Vice President – KYC Policy Adherence (Investment Management Financial Crimes Risk)
Vice President – KYC Policy Adherence (Investment Management Financial Crimes Risk)
Apply locations 1585 Broadway- NY NY - 2000 Westchester Ave Boston MA 1 Post Ofc Sq time type Full time posted on Posted 2 Days Ago job requisition id JR000301
Morgan Stanley is a global financial services firm that conducts its business through three principal business segments - Institutional Securities, Wealth Management, and Investment Management. Morgan Stanley provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services.
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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow.
Department Profile:
The Investment Management (IM) Financial Crimes 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 IM Financial Crimes 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:
The KYC Policy Adherence VP is responsible for executing the firm’s first line Financial Crimes program for IM. The role is responsible for supporting the ongoing oversight of KYC activities for the 1st line Financial Crimes Risk program, identifying areas of opportunity for program enhancement, development of frameworks to drive operationalization of complex initiatives, and design of a robust control environment with a primary focus to continuously minimize impacts across the front, middle and back office while maximizing client experience / engagement. This position will work closely with Global Financial Crimes (GFC) stakeholders to ensure the business is compliant with all relevant Financial Crimes standards, policies, procedures and applicable laws and regulations.
The KYC Policy Adherence VP will:
* Advise on KYC Policy requirements / interpretation and act as a primary point of contact and escalation forum to IM stakeholders for all KYC related matters.
* Support internal and external stakeholders (e.g., Client Services teams, Operations) in the execution of KYC requirements for all IM clients to meet regulatory requirements and internal policies.
* Establish and manage relationships with senior stakeholders and cross-functional teams to drive alignment on KYC project goals, risk mitigation, and firm objectives.
* Collaborate with internal and external KYC teams to ensure consistent delivery of transformation initiatives while meeting evolving regulatory requirements.
* Support projects involving KYC programs, such as data management principles, workflow (execution risk), customer due diligence, enhanced due diligence ensuring adherence to standards set by global regulators and internal policies.
* Support in the development and implementation of robust end-to-end frameworks for program enhancement initiatives to drive compliance with AML/KYC Policy expectations and regulatory commitments.
* Partner with GFC and peers in other 1st line of defense teams to identify areas of opportunity to champion change and improve client experience.
* Manage identified Issues through defining strategic remediation and Action Plans, ensuring minimal business impact while maintaining timely delivery.
* Support oversight efforts in managing risk associated to client populations across lines of business to drive consistency in process management.
* Oversee the implementation of KYC governance structures with a focus on cataloguing critical risk, socializing mitigation efforts, and aligning with partners and senior stakeholders on short-term and long-term solutioning for complex concepts.
Required Experience and Skills:
* 8+ 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.)
* Have an undergraduate degree in Business, Finance, or other related fields.
* Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
* Implementation and execution of Financial Crimes Programs requirements
* Knowledge of Financial Crimes laws and regulations and familiarity with best practice first line procedures and processes
* Operate with confidence and comfort in high-paced and high-profile environments.
* Analyze, summarize and communicate effectively.
* Distill complex ideas and concepts into actionable items.
* Identify issues, investigate root causes and propose comprehensive solutions.
* Handle highly confidential information professionally and with appropriate discretion.
* Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus.
* Knowledge of Financial Crimes regulatory requirements and expectations
* Working knowledge of MS Office (Microsoft Excel/PowerPoint/Word/Access)
* Strong time management and planning skills
* Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
* Experience in supporting audit and regulatory inquiries and interactions.
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values — putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back — that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world.
We're committed to bringing passion and customer focus to the business.
Expected base pay rates for the role will be between $140,000 and $200,000 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).
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