HYBRID-Shared Services Compliance- Outsourcing and Third Party Compliance Advisory Coverage Officer Job at Morgan Stanley
HYBRID-Shared Services Compliance- Outsourcing and Third Party Compliance Advisory Coverage Officer
Job Number:
3208816
POSTING DATE: Nov 21, 2022
PRIMARY LOCATION: Americas-United States of America-New York-New York
OTHER LOCATIONS: Americas-United States of America-Maryland-Baltimore
EDUCATION LEVEL: Bachelor's Degree
JOB: Compliance
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Vice President
DESCRIPTION
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.
The talent and passion of our people is critical to our continued success as a firm. Together, we share core values rooted in integrity, excellence and strong team ethic. Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.
Professionals within Legal and Compliance provide a wide range of services to our business units. They might help to structure a complex and sensitive cross-border transaction; advise on a new product introduction; develop a training program or defuse an investor dispute. They preserve the firm's invaluable reputation for integrity and protect the Firm from sanctions 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.
The Infrastructure Compliance Function is responsible for the second line oversight of infrastructure based regulatory processes supporting the Morgan Stanley businesses. The team also provides broader compliance support and advice to Morgan Stanley's infrastructure areas. This includes outsourcing and third party vendor management.
This role will report to and work closely with the Americas Head of Outsourcing and Third Party Compliance, who is be responsible for the design, execution and oversight of the compliance program related to Outsourcing and Third Party Vendor Management in the Americas. This role will also include some responsibility for assisting with the program outside the Americas.
KEY ROLE RESPONSIBILITIES
The talent and passion of our people is critical to our continued success as a firm. Together, we share core values rooted in integrity, excellence and strong team ethic. Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.
Professionals within Legal and Compliance provide a wide range of services to our business units. They might help to structure a complex and sensitive cross-border transaction; advise on a new product introduction; develop a training program or defuse an investor dispute. They preserve the firm's invaluable reputation for integrity and protect the Firm from sanctions 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.
The Infrastructure Compliance Function is responsible for the second line oversight of infrastructure based regulatory processes supporting the Morgan Stanley businesses. The team also provides broader compliance support and advice to Morgan Stanley's infrastructure areas. This includes outsourcing and third party vendor management.
This role will report to and work closely with the Americas Head of Outsourcing and Third Party Compliance, who is be responsible for the design, execution and oversight of the compliance program related to Outsourcing and Third Party Vendor Management in the Americas. This role will also include some responsibility for assisting with the program outside the Americas.
KEY ROLE RESPONSIBILITIES
- Rules management
- Keeping up-to-date with relevant regulatory developments in the Americas, identifying upcoming changes in a timely manner, contributing to regulatory consultation responses, assisting in analysis of regulatory developments to interpret impact on third party program.
- Advisory support and guidance
- Providing analysis and guidance to stakeholders in the Americas on implementing and enhancing controls and governance frameworks around outsourcing and third-party relationships. This will include providing strategic direction as to program design and ensuring the program meets regulatory expectations and aligns with industry best practice
- Advising on proposals by business units to outsource functions.
- Cooperating with colleagues across the Outsourcing and Third Party Compliance team globally to share knowledge and drive alignment of approach on similar issues where feasible
- Testing and monitoring
- Designing and implement testing and monitoring processes relevant to the third-party program
- Training
- Providing training to stakeholders on relevant topics
Role will require in office attendance 3 days/week.
QUALIFICATIONS
SKILLS REQUIRED
- Five + years' experience in a vendor management / outsourcing or related role at a US regulated entity.
- Understanding of relevant regulatory approach in USA and the Americas (with particular reference to Fed and OCC requirements and FINRA rules), with broad understanding of the global regulatory approach.
- Understanding of outsourcing and third party management in a financial services or related industry context, including in relation to the use of cloud-based services, contingent workers, and off-shore providers.
- Understanding of the business model and operational setup of a global financial institution
- Experience in identifying and interpreting changes to relevant laws or regulatory guidance, and communicating impact to stakeholders
- Experience in reviewing, developing and implementing policies and procedures, in collaboration with other stakeholders
- Experience in dealing with regulatory requests for information
- Ability to review and challenge proposals to ensure that there has been adequate consideration of regulatory requirements
- Ability to track and interpret industry trends
- Ability to work with global colleagues to develop and implement global standards and frameworks for governance and management of outsourcing
- Ability to build relationships of trust with members of the Legal and Compliance department and stakeholders from business units and support & control functions.
- Excellent analytical, program management and numerical skills.
- Detail oriented and good memory skills.
- Ability to work independently and drive projects and initiatives
- Ability to remain focused under pressure.
- Ability to perform multiple tasks simultaneously.
- Confidence to use own initiative and apply judgment
- Enthusiasm and aspiration to continue to learn and develop.
Expected base pay rates for the role will be between 110000 and 190000 per year 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.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
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