Know Your Client Officer, Edd - Vp

Company Profile

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 43 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.

Department Profile

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 risk issues associated with higher risk client types. The AML Risk Team is considered the first line of defense and supports the onboarding, enhanced due diligence, and negative news processes for Morgan Stanley.

Primary Responsibilities

• Maintain active pipeline with Financial Advisors, Complex Management and Risk Officers to onboard new and existing client relationships
• Manage data and trend analysis related to the AML Risk process and prepare periodic reporting for senior stakeholders
• Manage timely remediation of regulatory, audit, or QA/QC findings
• Partner with Business Units and the Second Line of Defense Global Financial Crimes Compliance teams to periodically review client relationships
• Partner with the Second Line of Defense Global Financial Crimes Compliance teams to monitor client relationships.
• Draft and update AML Risk procedures and desktop guidance related to the EDD execution process.
• Provide supervisory support and training for AML Risk EDD Reviewers and Managers through developing individual and team skills and providing timely constructive feedback.
• Manage the end-to-end EDD workflow of a program focused on assessing AML risks related to new and existing clients to effectively mitigate potential AML risk exposure including international clients and their respective jurisdictions.
• Collaborate with Complex Risk Managers and Risk Officers to onboard higher risk new and existing WM/IWM clients
• Provide supervisory support and training for AML Risk Analysts and AVPs through developing individual and team skills and providing timely constructive feedback.
• Oversee activities provided by AML Risk, AML Risk’s Dedicated Complex Support and Escalated Processing.
• Manage the implementation of internal EDD policies, procedures and MS KYC Standards and consistent with regulatory requirements and expectations for executing EDD controls
• Collaborate with Change Management Office and manage projects and initiatives related to assessing and mitigating the Firm’s exposure to money laundering and reputational risk-relevant activities.

Qualifications

Experience Required:

• Minimum undergraduate degree, in related field or equivalent combination of experience in financial or banking industry, MBA or Legal degree preferred
• 7+ 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.).

Skills Required

• Expert research skills with attention to detail
• VPs in E*TRADE: Experience with or knowledge of E*TRADE client types
• Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity
• Strong managerial, communications, analytical, organizational, project management and planning skills
• Basic knowledge of MS Office (Microsoft Excel/PowerPoint/Word/Access) Experience with data and trend analysis related to the management of an AML program
• VPs assisting with complex cases: Ability to leverage investigative or due diligence skills to work on complex files
• Experience in AML/CFT and/or Legal/Regulatory Compliance
• Expert knowledge of AML regulatory requirements and expectations (Domestic - US and International - non-US), MS AML Risk policies and procedures, and KYC standards to be able to act as Business Unit’s expert advisory function
• Strong knowledge of business products, operations, systems and organization
• Strong managerial, communications, analytical, organizational, project management and planning skills
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
• VPs in PWM: Experience working with ultra-high net worth clients

Ability To

• Work independently and in a team environment
• Take initiative, analyze, summarize, and communicate effectively
• Multitask effectively and action matters promptly
• Handle highly confidential information with appropriate discretion
• Work in a matrixed organization, leveraging resources across the organization to complete deliverables
• Work in a high volume, fast paced environment
• Investigate, identify issues, impacts and trends to propose comprehensive solutions.

Additional Skills Desired

• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license (is a plus)
• Expertise in managing programs focused on ensuring quality within AML programs.
• VPs working on international files: Strong foreign language/translation skills in: Spanish, Portuguese, French, Mandarin, Cantonese, Arabic, Russian, Hindi, Urdu, Punjabi, Italian, or African languages.

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.

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).

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

Vice President