Job Level: Vice PresidentTitle: Vice President, Client Regulatory Services , Change The Bank Team Department: SSBO Functional Area: Client Regulatory Services City Position is Located: BaltimoreCompany Profile: 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 cultureDepartment Profile: One of the largest divisions in the Firm, Operations is the first line of defence for Morgan Stanley’s financial and reputational well-being and essential in delivering value to our clients. Operations is responsible for correctly settling and recording millions of transactions per day, identifying and mitigating operational risk, developing strong client relationships and partnering with technology to realize the full potential of IT and Automation. Operations has a world-class team of innovative and dedicated professionals, with a unique vantage point in the Firm interacting with all parts of the business, front to back. The Operations Senior Management team are passionate about our people development and providing best in class employee opportunities through an inclusive, forward-looking environment defined by open communication, collaboration, learning, and proactive career managementSSBO : Shared Service and Banking Operations delivers industry leading operational solutions by aligning the right functions, people, processes and tools into ten core disciplines offering tailored client service levels that are efficient, controlled and compliant with regulation. Our core disciplines include: Asset Servicing, Cash Management, Client Data Management, Global Banking Services, Loans Servicing, Network Management, Payments (Wireless and Disbursements), Reconciliations, Settlements and Tax Operations.Team Profile: Client Regulatory Services (CRS) is an Operations group within Shared Services and Banking Operations (SSBO) that is responsible for adherence to client regulatory requirements during the life of the clients relationship with Morgan Stanley. This includes Anti-Money Laundering (AML) Client Reference Screening, Know Your Client (KYC), and other non-AML/KYC regulations such as MIFID, QIB, QFC, Dodd Frank, EMIR, HKPI, etc. The team is comprised of regulatory SMEs that provide support and regulatory control to global Business Units and stakeholders. The teams work on cross-functional projects in support of changed or new regulations, processes and controls that have an impact across the Firm coordinating with Legal, Compliance, Central Change and Technology. There are three Operational teams: – NCNB: The New Client New Business team is responsible for maintaining, reviewing, processing, and reporting on both AML and Non-AML regulatory programs; ensuring the data and documentation required is collected for new clients or existing clients extending their business relationship with Morgan into new products/jurisdictions. – Regulatory Refresh: The Regulatory Refresh team is responsible for completing the AML/KYC Periodic Reviews of our clients based on their jurisdictions and AML Risk to the firm. The KYC Services team is part of Regulatory refresh and is responsible for Client, Sales and NMR engagement; thereby assisting in effective completion of data & document refresh.- Client Screening Services: The Screening team performs Initial (Level 1) review & disposition of screening alerts across Sanctions, Negative News, PEP and Client Settlement Instructions. For high risk clients, the team completes Extended Due Diligence (EDD) public source reviews for new onboarding and refresh.And three supporting teams: – Controls and Quality: The Controls and Quality team works closely with CRS functions, Internal Risk, Audits, and Testing teams to implement a standardized approach towards the control agenda including operational procedures, RCSA, risk incident management, audits and testing issues and resolutions. The team is also responsible for performing process quality checks of completed CRS processes as an important part of the CRS Quality Assurance framework. – RIOA: The Regulatory Interpretation and Operational Advisory team works closely with Global Financial Crimes and Legal and Compliance to operationalize policy to ensure the team fulfills regulatory requirements. They are the first point of escalation for CRS on policy related questions in all regions.- CTB: The Change the Bank team works closely with Technology to implement new regulatory programs and system enhancements to improve our quality and streamline our workflows.- CRS have a global footprint with offices in Hong Kong, Bangalore, Tokyo, London, Baltimore and New York. Our mission is to serve our clients by delivering effective and efficient Regulatory Services at a high level of quality and control, while striving for continuous innovative improvements that will reduce the Firms total operating expenses.Background On the Role: This role will have 2 main responsibilities: Acting as the Product Owner of the Non-AML Regulation Team to drive the tool set and process to compile with numerous regulatory regimes including Dodd Frank, MIFID, EMIR, SFTR, QFC and LIBOR replacement.The other significant component of this role is that the person will be the Baltimore Site Lead for CRS across the teams that work there including New Client New Business KYC and Non AML (NCNB) team, Change the Bank (CTB) and Product Quality (PQ) team.Primary Responsibilities: The Product Owner (PO) is responsible for setting, prioritizing, and evaluating the work generated by a software Scrum team (squad) in order to ensure impeccable features and functionality of the product.The PO will work across the stakeholder community to define requirements and priorities using forums such as working groups and design sessions as may be appropriate.Day to Day Responsibilities: – Providing vision and direction to the Agile development team and stakeholders throughout the project and create requirements – Ensure that the squad always has an adequate amount of prior prepared tasks to work on- Plan and prioritize product feature backlog and development for the product- Define product vision, road-map and growth opportunities – Assess value, develop cases, and prioritize stories, epics and themes to ensure work focuses on those with maximum value that are aligned with product strategy- Provide backlog management, iteration planning, and elaboration of the user stories- Work closely with Product Management to create and maintain a product backlog according to business value or ROI- Lead the planning product release plans and set expectation for delivery of new functionalities- Provide an active role in mitigating impediments impacting successful team completion of Release/Sprint Goals- Research and analyze market, the users, and the roadmap for the product- Follow our competitors and the industry – Keep abreast with Agile/Scrum best practices and new trends- Lead and provide coaching to the Baltimore CRS team members, as the site lead and local manager to the team – Fulfill supervisory requirements for the Morgan Stanley US Broker Dealer and US Banking entities- Lead audit and regulatory exam preparation and responses for internal and external regulatory audits in partnership with Shared Services and Banking Operations Risk and Client Regulatory Services Controls & Quality- Represent Client Regulatory Services in meetings with Regulators and external auditors as required
Required Experience: – 10+ years people and team management experience preferably of an Operations or Change Management function- 5+ years management experience in consulting for or directly with financial institutions in operations, change management, and/or technology- Experience in Agile Scrum Development as Product Owner or Scrum Master preferred- Understanding of the financial services regulatory environment, including but not limited to KYC, MIFID, EMIR, Dodd Frank and other regulations that impact traded markets and investment banking businesses- Understanding of client onboarding, KYC or Financial Crimes Compliance in a global financial institution- Understanding of capital markets products and services- Demonstrated success in delivering process improvement and innovation in an onboarding or regulatory compliance context- Experience managing internal and external audit relationships and responding to regulatory RFIs.- FINRA Series 7 or 99 desiredDesired Skills/Traits- Control and Risk Management Mindset- Strategic Thinker- Quick self-starter, proactive attitude with ability to work in a fast changing environment and with international locations – Organizational effectiveness establish relationships, work within an enterprise- Detailed orientated, strong organizational skills- Excellent analytical and problem solving skills- Strong verbal and written communications skills with an ability to express complex technical concepts in business terms and to report to management- Skill at managing stakeholder groups and balancing diplomacy and tact with assertiveness – Strong prioritization skills to balance key priorities and arrive at decisions to balance cost vs benefits- A strong customer centric approach – Works well in undefined situations- Intellectually curious, growth mindsetWhat we offer- International environment and future career opportunities within our division- Significant role in defining process quality metrics and outputs- Possibility to learn about the financial markets and global regulations – Participation in major, global projects related to regulatory changes which have been re-shaping the financial industry- Welcoming and inclusive environment, strong corporate values and work ethics- Extensive training offerings- Active social life, the possibility to join diverse employee networks Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise 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.
Required Experience: – 10+ years people and team management experience preferably of an Operations or Change Management function- 5+ years management experience in consulting for or directly with financial institutions in operations, change management, and/or technology- Experience in Agile Scrum Development as Product Owner or Scrum Master preferred- Understanding of the financial services regulatory environment, including but not limited to KYC, MIFID, EMIR, Dodd Frank and other regulations that impact traded markets and investment banking businesses- Understanding of client onboarding, KYC or Financial Crimes Compliance in a global financial institution- Understanding of capital markets products and services- Demonstrated success in delivering process improvement and innovation in an onboarding or regulatory compliance context- Experience managing internal and external audit relationships and responding to regulatory RFIs.- FINRA Series 7 or 99 desiredDesired Skills/Traits- Control and Risk Management Mindset- Strategic Thinker- Quick self-starter, proactive attitude with ability to work in a fast changing environment and with international locations – Organizational effectiveness establish relationships, work within an enterprise- Detailed orientated, strong organizational skills- Excellent analytical and problem solving skills- Strong verbal and written communications skills with an ability to express complex technical concepts in business terms and to report to management- Skill at managing stakeholder groups and balancing diplomacy and tact with assertiveness – Strong prioritization skills to balance key priorities and arrive at decisions to balance cost vs benefits- A strong customer centric approach – Works well in undefined situations- Intellectually curious, growth mindsetWhat we offer- International environment and future career opportunities within our division- Significant role in defining process quality metrics and outputs- Possibility to learn about the financial markets and global regulations – Participation in major, global projects related to regulatory changes which have been re-shaping the financial industry- Welcoming and inclusive environment, strong corporate values and work ethics- Extensive training offerings- Active social life, the possibility to join diverse employee networks Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise 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.
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