Anti-Money Laundering Risk Associate – Enhanced Due Diligence (“Aml Risk Associate - Edd”)

The Anti-Money Laundering Risk (AML Risk) team is embedded within the Firm’s business line. It is responsible for identifying, assessing and escalating potential money laundering and reputational risks associated with higher risk client types. The AML Risk team is considered to be in the First Line of defense and supports the onboarding, client due diligence, enhanced due diligence and negative news processes for Morgan Stanley.

Responsibilities

The AML Risk EDD Associate will be responsible for executing risk-relevant activities related to AML. The AML Risk EDD Associate will assess Bank Secrecy Act (BSA), money laundering and reputational risk matters identified through the execution of the Firm’s EDD protocols and will have ultimate responsibility for the escalation of issues or risks related to these processes. Additionally, this role is expected to periodically support ad-hoc projects and initiatives, including remediation lookbacks and/or root-cause analysis and solutions implementation.

The AML Risk EDD Team Associate Will

• Actively identify, measure, control and remediate AML and reputational risk issues with partners in Global Financial Crimes, Compliance, and the Business Units
• Develop broad knowledge of the EDD review operations end-to-end cycle and provide subject matter guidance to project teams
• Act as key support for ad-hoc remediation projects and initiatives related to assessing and mitigating the Firm’s exposure to money laundering and reputational risk-relevant activities.
• Collaborate with Global Financial Crimes to ensure the BSA/AML program operates effectively and continues to comply with regulatory requirements and expectations
• Active pipeline management and engagement with Financial Advisors, Complex Management and Risk Officers to manage client relationships
• Review documents and information to perform enhanced due diligence reviews on higher risk customers
• Perform processes in accordance with internal policies, develop and monitor periodic AML reporting to senior stakeholders, and make recommendations to improve procedures governing AML-related activities
• Ensure timely feedback loop on identified gaps or issues to stakeholders involved in EDD operations

Required Experience

• Have 4+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Office of the Comptroller of the Currency, Federal Reserve Bank, Securities and Exchange Commission, etc.)
• Strong work ethic with an ability to work both independently and with team members, under tight deadlines
• Ability to work in a high volume, fast paced environment
• Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements
• Ability to handle highly confidential information professionally and with appropriate discretion
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing
• Have an undergraduate degree in Business, Finance, or other related field or a minimum 5 years of relevant work experience

Skills Desired

• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus
• Working knowledge of MS Office

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 70000 and 100000 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 19, 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

Associate