Job Description

Vice President - Operational Risk & Controls (Wealth Management)

Job Number:

3263528


POSTING DATE: Dec 11, 2024
PRIMARY LOCATION: Non-Japan Asia-India-Maharashtra-Mumbai
EDUCATION LEVEL: Bachelor's Degree
JOB: Wealth Management
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Vice President

DESCRIPTION


Morgan Stanley is an industry leader in financial services, known for mobilizing capital to help governments, corporations, institutions, and individuals around the world achieve their financial goals.




At Morgan Stanley India, we support the Firm's global businesses, with critical presence across Institutional Securities, Wealth Management, and Investment management, as well as in the Firm's infrastructure functions of Technology, Operations, Finance, Risk Management, Legal and Corporate & Enterprise Services. Morgan Stanley has been rooted in India since 1993, with campuses in both Mumbai and Bengaluru. We empower our multi-faceted and talented teams to advance their careers and make a global impact on the business. For those who show passion and grit in their work, there's ample opportunity to move across the businesses.




Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.




Division Profile:




Operational Risk and Control unit functions as a trusted partner to the Wealth Management business and control partners (Legal, Second Line Risk, Compliance, HR, Finance, Platforms, Operations) to help develop and execute on the strategic priorities of WM Risk as well as the business while ensuring ongoing operational efficiency and risk mitigation.



Background on the Position



The role will reside within the Wealth Management - Operational Risk & Control function in Mumbai, responsible for the management of the non-financial risk, Issue reporting and control testing. We seek a Vice President (VP) to join the First Line of Defense Bank Validation team in Mumbai responsible for supervising and executing the internal controls testing program covering Morgan Stanley Bank, NA. This position will assist in oversight of the team responsible for the evaluation of the adequacy and effectiveness of Bank specific internal controls, to include remediation of control deficiencies.




Responsibilities:

> Manage a large team of 20+ FTEs responsible for executing Bank validation activities.


> Manage team's personal development, oversee production, oversee deliverables are on time and at high level of quality, and provide timely feedback

> Manage escalations, and show a strong inclination towards problem solving and innovation

> Contribute to production and recognize proper delegation, setting of department goals, work on efficiency projects to increase production and create efficient workflows and processes.

> Participate in annual validation scoping exercise and present final scope and test plan to senior management.


> Supervise and review the preparation of workpapers, schedules, and summaries documenting testing of key controls identified by Bank management.

> Vet issues and observations with management and ensure appropriate documentation and escalation

> Verify remediation of control deficiencies in line with Bank and Program guidance


> Track and report key project milestones and metrics to onshore management.


> Identify and implement enhancements to the Bank Validation Program as function matures

> Support ad-hoc Bank management initiatives in collaboration with second and third lines of defense


> Ensure staff receive appropriate training & development, assist in developing training plans & provide coaching where necessary

> Promote a culture of inclusivity, high performance and continuous improvement.


QUALIFICATIONS


Experience Required

Bachelor's degree in accounting, Finance, Economics, or related field is required.

12+ years of experience in public accounting, internal audit or similar risk / testing function, minimum of five years in financial services Extensive experience in managing, leading and developing a large team in a global organization.

Project Management experience to handle critical automation project and initiatives for process enhancements.

Pro-active and possess strong problem-solving mindset.

Detail oriented, with exceptional risk management and analytical skills.

Experience at a global organization handling multiple priorities and different time zones.

Possess excellent oral and written communication skills

Good collaboration skills in a team-oriented environment

Skills Required


CPA (CA), CIA or CISA designation strongly preferred.
Proficient with Microsoft Office products and reporting tools
Highly motivated and comfortable in a fast-paced and evolving environment which includes ongoing learning and training opportunities.
Must be an excellent communicator (both oral and written communication) with outstanding listening skills

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.