Morgan Stanley ("MS") is a global financial services firm that conducts its business through three principal business segments-Institutional Securities, Wealth Management (WM), and Asset Management. The AML Risk Associate is with Morgan Stanley Private Bank, National Association (the "Bank" or "MSPBNA") on the Bank's Operational and Regulatory Risk Team. The Bank provides deposit and lending products and services to serve the Private Banking needs of WM clients. The AML Risk Associate is responsible for First Line Unit functions supporting the Bank, including, but not limited to, Enhanced Due Diligence and Negative News Screening at client on-boarding and as part of continuous monitoring.
MSPBNA's Operational and Regulatory Risk Team has responsibility for the design and implementation of the Bank's Operational Risk and Regulatory Compliance programs in the Business Unit as the First Line of Defense. Responsibilities of the team include Anti-Money Laundering (AML) and Reputational Risk reviews associated with MSPBNA's client base, as well similar support to another US Banking entity, Morgan Stanley Bank, N.A. The AML Risk Associate will be responsible for providing support of First Line of Defense activities related to BSA/AML.
The AML Risk Associate will:
• Provide support of the Bank's BSA/AML Client Due Diligence (CDD), Enhanced Due Diligence (EDD), and Supplemental Due Diligence (SDD) processes for the First Line Unit
• Partner with the Business Unit, including Branch Risk Officers, to ensure appropriate client on-boarding due diligence processes are enacted while providing a positive client experience
• Assist in the coordination of the Bank's Periodic Review process to ensure continued knowledge of Bank's client base, expected and actual activities, and any material changes to client information
• Assist in the Negative News Screening (NNS) process for Retail Banking clients including conducting research of prospective and current clients
• Coordinate with the Second Line of Defense Bank AML Compliance and Wealth Management AML Compliance teams to monitor client relationships on an ongoing basis
• Actively identify, measure, control, and remediate AML and Operational Risk issues with partners in Bank AML Compliance and the Business Unit
• Assist in managing surveillance issues observed or highlighted by Bank AML Compliance partners and liaise with Business Units
• Provide periodic AML reporting to Bank Management and seek to provide enhancements and efficiencies in metrics reporting program
• Collaborate with the AML Compliance group to ensure BSA/AML programs operate effectively and continue to comply with regulations and changes in regulations
• Have an undergraduate degree in Business, Finance, or other related field
• Have 2 years of relevant experience in BSA/AML Compliance, Know Your Customer, and Customer Identification Program requirements
• Desire to be certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license
• Experience with US Banking regulations and knowledge of Securities Based Lending products is a plus
• Ability to work both independently and with team members, as well as providing support for multiple team managers, under tight deadlines
• Evidence strong interpersonal skills and ability to communicate effectively both verbally and in writing
• Be able to handle highly confidential information professionally and with appropriate discretion
• Series 24 license to perform reviews of PBG marketing materials is a plus\
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