Vice President, Deposits Advisory

Socket.dev; Dallas (TX); On-site; USD 108,000 - 162,000; Full time

Job summary

Morgan Stanley is seeking a Deposits Advisory Officer in the U.S. Banks Non-Financial Risk to support the Deposits Compliance team and protect the firm against regulatory risk in its retail and brokered deposit products.

This VP level role will advise business units, develop policies, and oversee testing and training across platforms. The role requires extensive knowledge of OCC, CFPB, and Federal Reserve regulations, with a focus on Reg DD, Reg E, Reg CC and UDAAP, and will transition to a

Qualifications

• Bachelor's degree required; MBA or JD preferred.
• 8+ years of compliance and/or regulatory experience with knowledge of the financial services industry.
• Knowledge of banking regulations from OCC, CFPB, and Federal Reserve, with experience in key deposit regulations (Reg DD, Reg E, Reg CC, Reg D, UDAAP).

Responsibilities

• Provide compliance guidance and challenge to the Deposits businesses on banking rules and regulations.
• Monitor and implement updates for key deposit regulations.
• Support creation, maintenance, and revision of policies and procedures relating to banking rules and regulations.
• Conduct compliance risk assessments and contribute to the Annual Compliance Plan.
• Support compliance training for relevant employees.

Skills

Regulatory knowledge

Regulatory analysis

Communication skills

Organizational skills

Interpersonal skills

Education

Bachelor's degree

MBA or JD preferred

Tools

NACHA

Reg E/Reg DD/Reg CC familiarity

Job description

We're seeking someone to join our team as the Deposits Advisory Officer in the U.S. Banks Non-Financial Risk on our Deposits Compliance team to support the rapidly growing deposit products.

In the Legal & Compliance division, we assist the Firm in achieving its business objectives by facilitating and overseeing the Firm's management of legal, regulatory and franchise risk.

This is a Vice President level position within the U.S. Banks Consumer Banking & Lending Compliance Team, which is responsible for mitigating risks to the Banks related to its suite of brokered and retail deposit products across various platforms.

This is achieved through advice and guidance to business units, ongoing monitoring, development of policies, procedures and training, support of testing, complaints and core teams. Product types include, retail checking and savings, brokered sweeps, brokered ticketed savings and bespoke products.

Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

What you'll do in the role:

• Serve as Subject Matter Expert in providing compliance advice, guidance, and challenge to the Deposits businesses on the U.S. Banks with respect to banking rules and regulations;
• Serve as Subject Matter Expert in providing compliance advice and guidance related to product development and distribution initiatives identifying compliance risk;
• Monitor and implement updates for key deposit regulations;
• Support the creation, maintenance, and revision of existing and new policies and procedures relating to banking rules and regulations;
• Conduct targeted ongoing monitoring (Reg E, Reg DD, Reg CC, etc.) to identify regulatory violations and control breaks resulting in consumer harm;
• Work with business partners to perform tactical or strategic remediations to identified violations and breaks as necessary;
• Represent Bank Compliance in compliance matters across lines of defense
• Work with marketing partners to review marketing collateral against regulatory rules and UDAAP risk;
• Provide input to Compliance-related KRIs and dashboards
• Support the development of and conduct compliance trainings for relevant employees
• Conduct compliance risk assessments on the businesses covered and contribute to the development of the Annual Compliance Plan
• Support the Bank Compliance testing team with their reviews of regulations
• Analyze compliance requirements for New Product Approvals and coordinate with relevant stakeholders in ensuring controls are established to mitigate compliance risk

What you'll bring to the role:

• Bachelor's degree required; MBA or JD preferred
• CRCM preferred
• 8 or more years of compliance and/or regulatory experience with knowledge of the financial services industry, regulatory requirements, and experience in analyzing business risk and best practices
• Knowledge of banking regulations from OCC, CFPB, and Federal Reserve, and how they apply to bank products; with demonstrated experience in key deposit regulations, including Regulation DD (Truth in Savings Act), Regulation E (Electronic Fund Transfers), Regulation CC (Availability of Funds), Regulation D (Reserve Requirements), UDAAP (Unfair, Deceptive or Abusive Acts or Practices Act). Also knowledge of operational rules (e.g. NACHA) preferred.
• Ability to discuss and explain how regulations apply to certain products
• Highly organized and detail-oriented with strong analytical skills
• Organizational skills to manage multiple projects and ability to work independently in a fast-paced environment
• Be able to weigh risks with business development, coordinate amongst multiple teams and challenge partners when necessary
• Strong interpersonal and teamwork skills, as well as excellent oral and written communication skills
• Strong client-relations skills and ability to partner with clients to develop practical solutions that meet business needs while remaining compliant with applicable laws and regulations
• Able to perform analysis and problem identification, determine solutions and best execution and able to work under specific deadlines
• Excellent oral, written and analytical skills
• Strong work ethic and drive
• Strong sense of integrity and ethical leadership
• Strong team-orientation

Please note that the location listed for this role is temporary. The position’s work location will transition to 1445 Ross Ave, Dallas, TX 75202 at a future date.

In-Person interviews will be required for the role.

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 $108,000 and $162,000 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.