Associate, Third Party Risk Management

474 MS Services Group, Inc.; Dallas (TX); On-site; USD 90,000 - 130,000; Full time

Job summary

Morgan Stanley in Dallas seeks a Senior Risk professional to oversee Third Party and BDR risk within the Legal and Compliance's Non-Financial Risk (NFR) department. You will support risk assessments, reviews of incidents, and remediation plans while maintaining independent challenge and governance transparency.

Ideal candidates possess 5-7 years in financial services risk management, strong analytics, and experience in oversight, reporting, and collaboration across multiple lines of defense.

Qualifications

• Undergraduate degree in risk management or related field.
• 5-7 years' experience in financial services risk management.
• Understanding of third party and BDR regulations and frameworks.
• Program or project management skills with clear communication to senior management.
• Experience in oversight, regulatory exams or audits.
• Ability to collaborate globally while maintaining independence.
• Experience with risk reporting for governance and oversight.
• Strong analytical and multitasking capabilities under pressure.

Responsibilities

• Execute Second Line non-financial risk oversight for Third Party and BDR risks.
• Review risk assessments, control outcomes, incidents, remediation plans, and risk acceptances.
• Support governance activities for Third Party risks, including documentation and action tracking.
• Collaborate with first and second line to ensure proper identification, management, and escalation of risks.
• Contribute to targeted reviews and thematic analyses in risk oversight.
• Engage with senior colleagues across the Firm and control partners as appropriate.
• Document review conclusions and follow-up actions for auditability.

Skills

Risk analytics

Program/project management

Communication

Independent challenger

Education

Bachelor's degree

Tools

Microsoft Excel

Microsoft Word

PowerPoint

Job description

Background on the Position

The role will focus on Third Party and Business Disruption & Resilience (BDR) operational risk management and resides within Legal and Compliance's Non-Financial Risk (NFR) department, a Second Line of Defense (2LoD) function. Operational risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, or systems or from external events. The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing). The successful candidate will be responsible for supporting independent oversight, analysis, and challenge of Third Party and BDR risks and controls. The individual will play a key role in executing risk management oversight activities, including execution of risk assessments and regulatory compliance monitoring, creation of governance materials, and review of incidents and issues, remediation activity, and other matters requiring independent review and challenge.

Primary Responsibilities

• Execute Second Line non-financial risk oversight activities to support oversight and challenge of Third Party and BDR risk.
• Support independent review and challenge through execution of risk assessments as well as review of control outcomes, issues, incidents, remediation plans, and risk acceptances related to Third Party specialized risks.
• Assist with governance activities related to Third Party specialized risks, including preparation and review of materials, meeting documentation, action tracking, and escalation summaries.
• Collaborate with first line and second line colleagues to assess whether Third Party and BDR risks are appropriately identified, documented, managed, and escalated.
• Support targeted reviews and thematic analysis related to Third Party and BDR risk oversight.
• Engage with senior colleagues across the broader Firm, including first line of defense business units, support functions, and control partners, as appropriate.
• Maintain clear documentation of review conclusions, challenge points, and follow-up actions to support governance transparency and auditability.

• Undergraduate degree (i.e., B.A., B.S., or equivalent) is required, ideally in an area related to risk management. Advanced degree holders are also encouraged to apply.
• 5-7 years' experience in the financial services industry within risk management; exposure to sourcing / procurement, vendor risk management is preferable.
• Understanding of Third Party and BDR related regulations and industry frameworks, especially relating to operational risk management.
• Program or project management skills with a focus on effectively communicating complex analytical concepts to senior management.
• Experience working in an oversight function, executing regulatory exams and/or audits.
• Self-led with a demonstrated ability to collaborate globally across multiple functional areas while maintaining suitable independence and effective challenge.
• Experience with implementing and interpreting risk reporting for governance and oversight.
• Ability to work on challenging assignments in a dynamic environment, carry out quantitative and qualitative data analysis, synthesize information, distill relevant facts, and reach logical conclusions and communicate them effectively.
• Strong risk analytics experience and problem-solving skills with the ability to effectively manage several tasks concurrently and work in a high pressure environment to meet deadlines.
• Detail oriented mindset with strong organization skills with the ability to multitask and prioritize.
• Proficiency in Microsoft Word, Excel, and PowerPoint.

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 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents. Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences. For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo. At Morgan Stanley, we advise, originate, trade, manage and distribute capital for people, governments and institutions, always with a standard of excellence and guided by our core values. Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world. In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.