[Hybrid] Executive Director, Wealth Management Coverage Officer (Operational Risk Department)

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and Wealth Management 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 integrity, excellence, and strong team ethic.
Legal and Compliance Division Overview
The professionals in the Legal and Compliance Division LCD provide a wide range of services to our business units. LCD is made up of the Legal, Regulatory Relations, and Non-Financial Risk departments which preserve the firm's invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that are designed to meet regulatory requirements around the world. We also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firm's businesse
Background on the Position
The role will reside within NFR's Operational Risk Department, focused on 2nd Line Wealth Management Risk.
Operational Risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets). The Firm may incur Operational Risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing).
The successful candidate will be responsible for developing and enhancing ORD's capabilities to oversee the Operational Risks associated with the provision of Wealth Management and banking product services through WM's almost 16,000 Financial Advisors located in over 600 locations. A key enabler for success will be the ability to establish strong relationships across the organization, while maintaining a healthy challenge with the business teams. A credible understanding of financial products and Wealth Management services is essential to engage in constructive discussions about potential risk exposures. Knowledge of SEC and FINRA rules governing the business is required to interpret the appropriateness of policies, controls, and surveillance metrics. Experience with surveillance tools and data analytics to extract risk insights is required to develop 2nd line risk monitoring and management tools and reports.
Specific Function
- Lead the Independent Risk Management oversight and coverage for areas that support the Wealth Management business, including WM Operations, Finance, and HR. ED will ensure implementation of Op Risk Framework elements and drive accountability model across business and support areas.
- Partner with Wealth Management business units and WM support areas to proactively identify, assess, challenge and drive mitigation of Operational Risks and ensure consideration of evolving regulatory expectations.
- Partner with the broader non-financial risk teams including ORD, Compliance, and Global Financial Crimes colleagues to provide integrated 2nd line oversight of risks impacting WM business.
- Lead 2nd line Deep Dive reviews and challenge 1st line Lessons Learned reviews.
- Ensure establishment of the appropriate metrics and analytical tools to support 2nd line oversight of Wealth Management's Operational Risks, including monitoring, escalation and decision making.
- Participate in relevant WM Risk Committees and working groups.
- Provide ad-hoc, monthly, and quarterly risk reporting.
Qualifications:
- 10+ years' experience in relevant Wealth Management or Operations risk role
- Deep knowledge of the trade life cycle and specific Operations functions including, but not limited to trade confirmations, settlement, corporate actions, and other post trade events. Familiarity with Morgan Stanley systems and processes is a plu
- Detailed knowledge of Operational Risk management frameworks, including loss data processes, risk and control self-assessments, and scenario analyse
- Knowledge of SEC and FINRA rules governing Wealth Management busine
- Experience in dealing with SEC, FINRA, Federal Reserve and OCC examination
- Writing concise risk management reports for executive management and board
- Strong verbal and written communication skills with confidence to challenge business where appropriate
- Bachelor's degree required; MBA or other finance related graduate degree or certification preferred
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).
For New York, expected base pay rates for the role will be between $160,000 and $250,000 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.