Job Description
Vice President, Operational Risk - Private-side Business Coverage Officer
Coverage responsibilities include Global Capital Markets, Investment Banking and Investment Management
Legal and Compliance Division
The lawyers, compliance, financial crimes and operational risk professionals of Morgan Stanley's Legal & Compliance Division (LCD) provide a wide range of services to our business units. They preserve the Firm's invaluable reputation for integrity and protect the Firm with policies and procedures that meet regulatory requirements around the world. They also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the Firm's businesses.
Background on the Position
The role will reside within the Legal and Compliance Division's Operational Risk Department. 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., transactional error, fraud, cyber-attack, etc.) impacting the full scope of its business activities, including revenue-generating activities and infrastructure groups.
The Firm has a robust Operational Risk Management Framework designed to identify and assess significant operational risks and ensure appropriate mitigation actions are undertaken. The Framework is deployed across Business Units, Infrastructure Groups and Control Functions globally. The Framework is based upon a Three Lines of Defense model within which ORD operates as Second Line of Defense, providing independent oversight and challenge to the management of operational risk across the Firm. Given the nature and breadth of Operational Risk, operational risks are managed at multiple levels e.g., Firmwide, as well as Regional, Business Unit, Infrastructure Group, Control Function and Legal Entity.
Position Description
We are looking to attract a senior recruit to the Asia Operational Risk Coverage team, with coverage responsibilities for private-side businesses, including Global Capital Markets, Investment Banking, and Investment Management. The role will be based in Hong Kong or Singapore, reporting to the Head of Asia Operational Risk.
Primary Responsibilities
The Asia Operational Risk Coverage team is responsible for working with business and infrastructure units to identify, analyze, assess, and challenge operational risks associated with the processes and controls relevant to each business and supporting infrastructure. Coverage Officers are responsible for driving and implementing the Operational Risk Framework.
Specific responsibilities include:
> Enhance / build solid client relationships with key individuals relevant to private-side businesses
> Develop in-depth understanding of the businesses and their operational risks
> Assist the divisions in highlighting their Key Operational Risks and management of risk levels against designated risk tolerance limits at a divisional and Firm level
> Carry out deep dives into material operational risk events (internal and external) and analyses of thematic and emerging operational risks
> Advise on process and control design as well as remediation
> Play an active role in the review and approval of new products and new activities originating from private-side businesses
> Assist in the enhancement of the Operational Risk programme and embedding of the framework and standards
> Assist in reporting to Boards and Committees Qualifications and Skills Required
> Candidate should have a minimum of 7 years of relevant working experience, having worked directly in Sales & Trading functions or a supporting infrastructure unit;
> Good understanding of banking regulation, especially relating to operational risk management is highly desirable;
> Prior experience in risk management, or other risk/control-based roles is preferred;
> Proven ability to anticipate and identify risks and effective mitigants;
> Strong organizational skills with the ability to multitask and prioritize; ability to work under pressure and against tight deadlines;
> An open-mind and flexibility to work on changing priorities in a fast-paced environment ;
> Confidence to take ideas forward and to challenge the 1st line;
> Excellent communication skills, both verbal and written; ability to produce concise and effective presentations;
> Ability to work in a team environment, build and maintain a network of stakeholders throughout the firm;
> Experience in dealing with regulators an advantage, but not essential ;
> Bachelor's degree or equivalent, ideally in a quantitative discipline, Finance, Economics or similar;
> Strong English communication skills necessary. Fluency in Cantonese/Mandarin will be an advantage;
> Proficiency with Excel, Power BI and PowerPoint (Advanced)
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.
To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
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.
22977281