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Form of workDepartment Profile
Internal Audit is responsible for validating whether the firm operates in a controlled environment with appropriate risk management processes. Auditors evaluate the adequacy and effectiveness of the firms internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firms compliance with internal guidelines set for risk management and risk monitoring as well as external rules and regulations governing the industry.
The department reports directly to the Board Audit Committee and helps verify whether the firm meets all of its fiduciary responsibilities to shareholders while adhering to corporate governance standards and legal and regulatory requirements. Internal Audit is comprised of Business and Technology auditors. Business auditors focus on understanding the risks that the businesses face and the controls to mitigate those risks. Technology auditors focus on the application controls supporting the business processes including systems development/ application security and entitlements/ production management/ and technology governance. Both groups are responsible for understanding/ analyzing and testing the controls to protect the franchise.
Background on the Position:
Morgan Stanley is seeking an Associate to join its Core Finance Internal Audit Division, in a business auditor capacity. The role will reside within the Internal Audits Finance audit team which is a team dedicated to providing coverage of Core-Finance and Regulatory Reporting. The person in the role will assist the Finance audit team in completing its annual audit plan. Audited functions include accounting policy/ regulatory reporting/ capital planning/ financial accounting/records/ valuations/ corporate reporting/ product controllers and SOX processes.
Primary Responsibilities
- Participate in all phases of the audit/ including planning/ fieldwork and reporting
- Maintain ongoing communication with business management to follow-up on previously identified audit issues
- Participate in continuous monitoring meetings and documentation of risk assessments of key business processes to drive risk based assurance plan
- Develop solid working relationship with clients and across the broader Internal Audit Department.
QUALIFICATIONS
Skills Required
1. Strong verbal and written communication skills
2. Solid technical knowledge of internal controls and audit practices
3. Solid technical knowledge of accounting standards and experience in researching GAAP and/or other regulatory standards
4. Demonstrated ability to multi-task between several projects and complete audits/projects within required time frames and budgets
5. Keen attention to detail and demonstrated strong analytical skills
Experience
1. Three to five years of industry-related experience
2. Experience of the internal audit processes (e.g. risk assessments/ planning/ testing/ reporting and continuous monitoring) (Required)
3. Accounting and auditing background with an Internal Audit function or public accounting firm;
4. CPA or equivalent license highly preferred
5. Experience with regulatory reporting policies and regulations including regulatory reporting forms and instructions (e.g. FR Y-14M/Q/A FR Y-9C etc.)
6. Experience with capital markets and/or securities industry regulations
7. Knowledge of financial statement processes and accounting requirements
8. Experience of leading global teams in terms of managing and coordinating audit engagements/ supervising walkthroughs and testing/ communicating with stakeholders within and outside of Internal Audit etc.
Expected base pay rates for the role will be between 70000 and 105000 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.
