Risk & Control Testing Senior Operations Specialist - Wealth Management Operations
Location:
Baltimore , Maryland
Posted:
September 20, 2017
Reference:
3087227
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.

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. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Operations is one of the largest divisions in the firm and has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, the Operations department continually seeks ways to improve while actively supporting the development of new businesses, structures and markets.

Wealth Management Operations
Global Wealth Management Operations provides brokerage, investment and financial services to hundreds of thousands of individual investors. We apply our expertise in serving institutional clients to create new opportunities for people to achieve their personal financial goals. Morgan Stanley has one of the largest retail brokerage networks, with numerous worldwide representatives and retail locations. Our services are tailored to each client's investment objectives, risk tolerance, and financial needs. Products include mutual funds, stocks, bonds, and alternative investments where appropriate, as well as banking, mortgages, insurance and annuities.

The Risk and Control Senior Operations Specialist is responsible for the documentation, measurement, analysis, and mitigation of operational risk. The specialist accomplishes this through a range of activities such as process and control documentation and testing; insuring supervisory procedures are in place; reviewing compliance with firm policies and regulatory expectations; analyzing key risk metrics; and documenting and executing remediation plans. The specialist will generally perform these risk and control framework responsibilities in collaboration with functional process owners in operational areas such as trade support, clearance and settlement, and corporate actions. Where appropriate, the Specialist will also be responsible for reviewing the testing standards developed and executed by Testing Specialists.

Primary Responsibilities: Testing and QA of RCSA controls
- Monitoring, assessment and testing of control activities performed by functional teams through a Risk and Control Self-Assessment (RCSA) discipline
- Participation in periodic internal audits through the entire exam life-cycle
- Periodic reviews and maintenance of control tools (e.g., system entitlements, desktop procedures, supervisory procedures and check-lists)
- Remediation of risk issues, audit findings, processing inefficiencies, etc.
- Definition, publication, and testing of internal policies impacting the risk and control framework
- Root cause analysis on risk incidents
- Fostering risk management skills through training and development of colleagues, both in the risk and control organization and the functional processing teams
- Leadership of Testing Specialists

Qualifications
- College degree (BS or BA) preferably in accounting, economics, finance, statistics or related disciplines
- Five to seven years minimum experience in financial services operations with at least two years in operational risk management- Hands-on experience with using quantitative (metrics) and qualitative tools (e.g., process narratives and flows, incident reports) to assess areas of risk and identify risk mitigation options
- Hands-on experience applying risk management precepts such as separation of duties, information security disciplines, and supervisory reviews
- Strong analytical skills, including root cause analysis
- Strong communication skills, both oral and written, including experience with business process documentation and preparing management reports using PowerPoint
- Collaboration and teamwork skills and experience, including strong interpersonal skills

A little about us:
Since its founding in 1935, Morgan Stanley and its people have helped redefine the meaning of financial services.

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