Morgan Stanley

Vice President Operational Risk U.S. Banks (Wealth Management)

Posted On

Dec. 13, 2024

Location

Mumbai, Maharashtra

Experience Level

Freshers/Experienced

Job Type

Permanent

Apply By

Jan. 29, 2025

Job Description

Morgan Stanley is an industry leader in financial services, known for mobilizing capital to help governments, corporations, institutions, and individuals around the world achieve their financial goals.

At Morgan Stanley India, we support the Firm's global businesses, with critical presence across Institutional Securities, Wealth Management, and Investment management, as well as in the Firm's infrastructure functions of Technology, Operations, Finance, Risk Management, Legal and Corporate & Enterprise Services. Morgan Stanley has been rooted in India since 1993, with campuses in both Mumbai and Bengaluru. We empower our multi-faceted and talented teams to advance their careers and make a global impact on the business. For those who show passion and grit in their work, there's ample opportunity to move across the businesses.

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.

Division Profile:

Morgan Stanley Bank, N. A. (MSBNA) and Morgan Stanley Private Bank, National Association (MSPBNA) are national banks and indirect, wholly owned subsidiaries of Morgan Stanley. They are chartered by the Office of the Comptroller of the Currency (OCC). MSBNA is headquartered in Salt Lake City, Utah and has representative offices in New York; MSPBNA is headquartered in New York.

MSPBNA offers deposit and lending products, including mortgages, principally to clients of Morgan Stanley Wealth Management. Primarily a wholesale commercial bank, MSBNA offers consumer securities-based lending, commercial lending services, and traded and deposit products.

Background on the Position

The role will reside within the Wealth Management - US Banks Team in Mumbai.
The Wealth Management - US Banks Business Risk is the 1LOD risk management team responsible for the management of the non-financial risk the US Banks. We seek a Vice President (VP) to join the First Line of Defense Business Risk team in Mumbai to lead all the functions within Business Risk spread across various NFR risk such as Privacy Risk, Conduct Risk, Testing and Validations, and Operational risk.?
Responsibilities:
> Manage a large team of 30+ FTEs across various Business Risk functions
> Manage team's personal development, oversee production, oversee deliverables are on time and at high level of quality, and provide timely feedback
> Manage escalations, and show a strong inclination towards problem solving and innovation
> Contribute to production and recognize proper delegation, setting of department goals, work on efficiency projects to increase production and create efficient workflows and processes
> Collect and analyze operational details from different silos of the US Banks, validate and reconcile the data elements and data sets from different sources.
> Design, develop and maintain management presentations, presentations for regulators stakeholders.
> Be the ambassador for digital transformation of the division, applying data techniques.
> Ensures quality service within SLAs to internal clients (i.e., Service Managers and Segment Managers).
> Draft and maintain procedure and audit documents.
> Collaborate with stakeholders across different US Banks functions to achieve goal of successful setting up of a Centralised Reporting & Analytics Team
> Ensure staff receive appropriate training & development, assist in developing training plans & provide coaching where necessary.
> Promote a culture of high performance and continuous improvement.

Experience Required
> Bachelor's Degree with over 10+ years of experience leading Non-Financial Risk team in Risk management, Finance, Legal/compliance, or Audit is highly preferred.
> Extensive experience in managing, leading and developing a large team in a global organization.
> Familiarity with operational and business risk management is highly preferred.
> Project Management experience to handle critical automation project and initiatives for process enhancements
> Pro-active and possess strong problem-solving mindset
> Detail oriented, with exceptional risk management and analytical skills
> Experience at a global organization handling multiple priorities and different time zones
> Possess excellent oral and written communication skills
> Good collaboration skills in a team-oriented environment

Skills Required
> Proficient with Microsoft Office products and reporting tools, i.e., Advanced Excel, Tableau or PowerBI, will be a plus
> Ready to accept challenge with an ability to assess issues from multiple angles.
> Highly motivated and comfortable in a fast-paced and evolving environment which includes ongoing learning and training opportunities.
> Must be an excellent communicator (both oral and written communication) with outstanding listening skills.

EOE M/F/D/V Committed to Diversity

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.

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