Risk Management and Internal Controls – Investment Solutions Products

Morgan Stanley; Purchase (NY); On-site; USD 85,000 - 140,000; Full time

Job summary

Morgan Stanley is seeking a Risk Management and Internal Controls professional within the Investment Solutions Business Risk Management team in Purchase, NY. The role partners with business units to ensure adherence to risk and control frameworks, with a focus on Private Markets and Alternative Investments.

Responsibilities include coordinating risk and control self-assessments, examinations, incident analysis, and implementing enhanced processes and controls across the organization.

Qualifications

• At least 5 years of relevant risk experience.
• Undergraduate degree in business, finance, accounting or related fields.
• Audit and RCSA experience preferred.
• Business process and operational controls experience preferred.
• Strong understanding of compliance and audit practices.
• Knowledge of IT security controls.

Responsibilities

• Support EquityZen migration by developing and implementing the control framework.
• Coordinate risk and control self-assessments with risk owners to ensure adequate coverage.
• Coordinate with auditors, compliance and RCSA teams for examinations and follow-up on open risks.
• Analyze risk incidents and assess impact; document in ReCap.
• Plan and perform internal reviews of procedures and controls to ensure effectiveness.
• Lead initiatives to enhance processes and controls to close gaps.
• Develop and communicate risk management issues and proposed solutions to BRM management.
• Assist in IT project risk management and coordinate with BUISO on security risks.
• Participate in review of vendor management, EUC and user entitlements as needed.

Skills

Risk management

Internal controls

RCSA

Audit

Compliance

MS Office

Education

Undergraduate degree in business/finance

Tools

Microsoft Excel

PowerPoint

Pivot tables

VLOOKUP

Job description

Morgan Stanley Wealth Management provides access to a wide range of wealth management products and services for individuals, businesses and institutions to deliver services and solutions that help build, preserve and manage wealth. These services include brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust.

Business Risk Management

The Investment Solutions Business Risk Management team is responsible for implementing the product risk and control framework supporting Traditional Investment Products, Insured Solutions, Alternative Investments and Private Markets. This requires close coordination with support partners such as the Product teams, Operations, Technology, Compliance and Legal to identify and assess operational risks and implement controls and processes.

Position Summary

Business Risk Management is seeking a candidate for Risk Management and Internal Controls. This position is responsible for partnering with the business units to ensure continued adherence to the risk and control framework and provide ongoing risk management support with a focus on Private Markets and Alternative Investments.

Primary Responsibilities Include

• EquityZen Migration – Assist in the migration of newly acquired Equity Zen business processes with a focus on developing and implementing of the control framework.
• RCSA Coordination – Assist in coordination with risk owners in the business to continue to enhance the risk and control self-assessment to ensure that risks and controls are documented around current supervisory processes and test the supervisory process to ensure coverage is adequate.
• Examination Management– Assist in coordination with internal/external auditors, compliance and central RCSA testing teams to ensure that the business is adequately prepared for all reviews. Track the status of open risks identified by internal/external audit, compliance and central RCSA testing teams and work with each action owners to identify the best resolution to remediate controls or mitigate risk.
• Risk Incident Monitoring – Assist in analyzing incidents and determine firm, advisor and/or client impact. Conduct a mini front-to-back analysis of incidents to determine if an enhancement is needed to a function/process/control and ensure that operational risk incidents are properly posted to and processed through the Risk Incident Tracking Application (ReCap).
• Risk Identification – Assist in planning and performing internal reviews of procedures and controls residing within various product and business areas to ensure that controls are adequately designed and are operating effectively in preparation for all audits, compliance exams, and regulatory inquiries.
• Risk Mitigation – Proactively engage appropriate stakeholders and partners to lead the implementation of enhanced processes and controls build-out for any identified control gaps or opportunities for enhancement.
• Management Reporting – Develop reporting and effectively and timely communicate risk management issues and internal control deficiencies to BRM Management with properly vetted and proposed solutions.
• IT Project and Risk Management – Manage certain aspects of the pipeline of IT projects for certification through partnering with management and various PMO groups and ensure that IT projects are appropriately assessed for risk ratings. Engage the Business Unit Information Security Officer (BUISO) team when information security risks are identified.
• Vendor Management, EUC, User Entitlements – Participate in review and monitoring of these areas to ensure compliance and timely response to inquiries and/or testing.

Qualifications

• At least 5 years of relevant risk experience.
• Undergraduate degree in business, finance, accounting or other related fields
• Audit and RCSA experience preferred
• Business Process and Operational control environment experience preferred
• Strong understanding of Compliance and Audit practices
• Knowledge of IT Security controls
• Demonstrate an understanding of the financial services industry, Investment Solutions products specifically alternative investments (private equity, hedge funds, exchange funds etc) and insurance products (annuities, insurance including property and insurance experience a plus
• Ability to take initiative, analyze, summarize, and communicate effectively orally and in writing
• Strong interpersonal skills - ability to work with various professionals and levels of management across departments
• Excellent organizational skills, ability to manage multiple tasks and meet assigned deadlines
• Ability to work independently and within teams, promote teamwork and demonstrate sound reasoning and judgment.
• Strong working knowledge of MS Office (Microsoft Word, Excel (including pivot tables, vlookups, etc.) 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.

Expected base pay rates for the role will be between $85,000 and $140,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

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.