Financial Crimes Risk Office - Associate

Morgan Stanley is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services. 

As a market leader, the talent and passion of our people is critical to our success.  Together, we share a common set of values rooted in doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion.  Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow. 

Department Profile: 

The WM and U.S. Banks Financial Crimes Risk Team is embedded within the Firm’s business line.  It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The WM and U.S. Banks Financial Crimes Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley.

Responsibilities:

The Financial Crimes Risk Officer Associate is responsible for assisting in the execution of the firm’s first line Financial Crimes program for WM and U.S. Banks. The role will be responsible for assisting in the execution of the strategic direction of the Financial Crimes programs, performing oversight responsibilities and escalating potential gaps and risks. This position will work closely with the business, the second- and third-line stakeholders to ensure the business is compliant with all relevant Financial Crimes standards, policies, procedures and applicable laws and regulations. 

The Financial Crimes Risk Officer Associate will:

• Support the implementation of the firm’s Financial Crimes program requirements and controls, developing guidance and procedures for the first line
• Provide with advisory, guidance and training to the first line, including reviewing and escalating risk appetite exceptions
• Ensure first line compliance with all relevant Financial Crimes regulations, standards, and policies
• Assist in the execution of Financial Crimes risks initiatives that arise for the first line in the WM and U.S. Banks businesses
• Assist in the identification of control enhancement opportunities and implementation of preventative detective controls and testing
• Assist in the remediation of control gaps and deficiencies identified from Annual Risk Assessments and resolution of investigations as recommended by second line
• Develop metrics and relevant trend analyses on Financial Crimes-related activities for the first line
• Identify, escalate and assist in the management of latent & emerging risk, execution of heightened risk and high-risk portfolio reviews.

Required Experience

• Have 3+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.).
• Have a bachelor’s degree in business, Finance, or other, related field.
• Strong knowledge of Know Your Customer (KYC), Customer Identification Program (CIP), and Customer Due Diligence (CDD) requirements.
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
• Ability to evidence a strong work ethic and maintain a high degree of integrity. 

Ability to:

• Analyze, summarize and communicate effectively
• Operate with confidence and comfort in high-paced and high-profile environments with minimum supervision
• Multitask effectively and execute actions promptly
• Identify issues, investigate root causes and escalate promptly
• Handle highly confidential information professionally and with appropriate discretion

Additional Skills Desired:

• Working knowledge of MS Office.
• Experience with data and trend analysis related to the management of a financial crimes risk program.
• Expertise in managing programs focused on ensuring quality within AML programs.
• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus. 

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 year