Anti-Money Laundering And Sanctions Risk Officer

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, and individuals from more than 1,200 offices in 42 countries.

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 integrity, excellence, and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Division Profile

Wealth Management and U.S. Banks Risk is responsible for identifying, measuring, and managing the current and emerging risks of the WM and U.S. Banks division and, in coordination with WM’s and U.S. Banks’ Business Control Units and Second Line Risk Management and Compliance, implementing control processes and procedures to mitigate risk consistent with WM’s and U.S. Banks’ risk appetite and governance framework

Position Summary

The First Line Wealth Management Team is looking for an innovative, driven individual to join its Leadership Team as an Anti-Money Laundering (AML) and Sanctions Risk Officer for the First Line AML & Sanctions Risk Office. This position will support the delivery of strategic direction, risk identification, monitoring and oversight on AML & Sanctions risk matters. This individual will be responsible for supporting the implementation and maintenance of the AML & Sanctions Program requirements for the First Line Wealth Management and U.S. Banks organization.

Because of the broad nature of the role, it will require a candidate who has a proven track record of supporting and working with a senior management team, as well as with multiple functions within an organization.

The role will report to the First Line Head of AML & Sanctions Risk for Wealth Management and U.S. Banks.

The AML & Sanctions Risk Office is responsible for leading, managing and executing the firm’s first line AML & Sanctions program for WM and U.S. Banks.

The role will be responsible for setting the strategic direction of the AML and Sanctions program and performing governance and oversight responsibilities. She / he will work closely with the business, the second- and third-line stakeholders to ensure the business is compliant with all relevant AML and Sanctions standards, policies, procedures and applicable laws and regulations. The role will provide subject matter expertise guidance and training to the first line, as well as monitor and report on AML and Sanctions-related activities for the first line.

In Addition, Other Key Responsibilities Include

• Monitor and report on first line AML and Sanctions-related activities
• Management of investigations, reputational, AML & Sanctions franchise risk matters and reviews
• Develop and implement the firm’s AML & Sanctions policies, guidance and procedures for the first line
• Performing first line AML & Sanctions risk assessments to assist with the prioritization of program activities and the identification of control enhancement opportunities.
• Collaborate closely with critical internal stakeholders including Senior Business Leaders, Second Line, Technology and Internal Audit
• Oversee and decision matters (including transactional and activities) that may pose AML or Sanctions risk to the first line
• Strategy / Analysis and Organizational Buildout: Drive strategy / strategic initiatives and analysis to develop a cohesive and holistic strategy across Wealth Management and U.S. Banks teams; Support organizational design and buildout of first line Financial Crimes framework, program and team
• End-to-end business supporting, include subject matter expertise advice and recommendation on AML & Sanctions matters, standards and policies
• Coordinate with Business stakeholders and leaders to validate and evolve multi-year strategy and plans against that strategy
• Lead AML & Sanctions risks initiatives that arise for the first line in the WM and U.S. Banks businesses
• Implement preventative detective controls and testing
• Ensure first line compliance with all relevant AML and Sanctions regulations, standards, and policies
• Maintain the first line current on changes in AML & Sanctions regulations and policies and update the respective firm’s programs for first line accordingly
• Support in Regulatory responses and Remediation efforts, including Regulatory, Senior Management and Board level presentations and readiness
• Interfacing with leadership team and communicating pertinent information across the Department &
• Build and manage a team of AML & Sanctions first line professionals
• Provide advice, guidance and training to the business on AML & Sanctions Risk-related matters and related procedures. Particular focus on interpreting and applying AML & Sanctions laws and regulations in answering queries and providing subject matter expertise to the Business.

Required Skills

• Handle highly confidential information with appropriate discretion
• Experience in all aspects of strategy, planning, execution, and delivery
• 7-10+ 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.)
• Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity
• Demonstrate prior experience and expertise with large scale organizational buildouts, remediations, high profile matters to senior management, Board and regulators
• Expertise in international AML and economic sanctions laws and regulations and familiarity with best practice first line procedures and processes.
• Confidence and comfort operating in high-paced and high-profile environments
• Expertise in implementing and executing on AML & Sanctions Program requirements
• Ability to direct and drive senior stakeholders towards a common goal and high EQ

Preferred Skills

• Experience in supporting audit and regulatory inquiries and interactions with Board, senior management, consultants
• Financial Industry WM or U.S. Banks experience
• Certification as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license - or certification within first 15 months of employment
• Working knowledge of privacy management tools and solutions
• Passionate about privacy and the protection of customers’ personal information
• Relevant professional certifications such as CPA, Series 7, 24, etc.
• First Line Risk & Controls, Compliance or Audit experience
• Advanced degree in relevant field of study

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).

Expected base pay rates for the role will be between $100,000 and $180,000 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.

Posting Date

Apr 15, 2023

Primary Location

Americas-United States of America-New York-New York

Education Level

Bachelor's Degree

Job

Wealth Management

Employment Type

Full Time

Job Level

Vice President