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.
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Global Financial Crimes (GFC) coordinates day-to-day implementation of the Firm’s enterprise-wide financial crime prevention efforts. GFC includes several legal and compliance disciplines and has responsibility for governance, oversight and execution of the Firm’s Anti-Money Laundering (AML), Economic Sanctions, Anti-Tax Evasion, Anti-Corruption and Government and Political Activities Compliance programs. GFC also develops and/or assists in the development of appropriate policies and procedures, including those designed to assist the business units to know their clients and conduct appropriate due diligence and to prevent, detect and report potentially suspicious activity. GFC has dedicated coverage managers and teams of analysts who advise and counsel each business unit regarding its AML, economic sanctions and anti-corruption obligations and its particular clients and transactions.
Background on the Team
The Wealth Management (WM) GFC Advisory group focuses on the anti-money laundering obligations associated with the Firm’s Wealth Management business. The team is responsible for advising on the financial crime risk associated with client onboarding and due diligence executed for new clients and accounts.
This role reports ultimately to the Head of Bank and Wealth Management GFC Advisory. The role has several direct reports and has supervisory responsibilities over the WM GFC Advisory professionals assigned.
The WM GFC Advisory Manager will:
Team Management Activities:
Assist the Head of Bank and WM GFC Advisory in managing the team of Analysts responsible for advising on the financial crime risk associated with client onboarding and due diligence that is executed for new clients and accounts
Provide general supervisory support for WM GFC Advisory Analysts and serve as their first point of contact for daily questions and issues
Manage WM GFC Advisory Analysts’ workloads including tracking outstanding inquiries and working with the Analysts towards resolution of issues
Provide initial training to all new hires on WM GFC processes and risk analysis
Report current status of work items under review by WM GFC Advisory Analysts to the Head of Bank and WM GFC Advisory, and address any issues with the Analysts
Provide WM GFC Advisory Analysts with timely, constructive, and ongoing feedback regarding their respective work products and performance
Represent WM GFC on senior stakeholder forums
Liaise with first line AML teams, provide guidance, oversight and best practices
Client Onboarding, Know Your Customer (KYC) and EDD Responsibilities:
Provide guidance to branch office personnel with their adherence to USA PATRIOT Act and Office of Foreign Assets Control (OFAC) sanctions requirements
Assist in the compilation of monthly WM GFC related metrics for management reporting purposes
Lead and participate in team meetings led by the Head of Bank and WM GFC Advisory
Other GFC Activities
Assist the Head of Bank and WM GFC Advisory with oversight of regulatory exams and inquiries
Manage implementation of internal policies and make recommendations to improve policies and procedures to maximize departmental resources
Participate in targeted training conducted for Business Units
Skills required (essential)
Candidates must have:
4 year college degree with strong academic credentials
5 to 8 years of experience with Bank Secrecy Act (BSA)/Anti-Money Laundering Regulations within the financial services industry, or at a financial services regulator (e.g., Office of the Comptroller of the Currency, Federal Reserve Bank, Securities and Exchange Commission, Federal Deposit Insurance Corporation)
Strong knowledge of Client Onboarding, KYC and EDD
Strong knowledge of the USA PATRIOT Act, BSA and OFAC regulations
Strong understanding of financial markets and banking
Awareness of current laws, rules and regulations
Strong client-relations skills and ability to partner with clients to develop practical solutions that meet business needs while remaining compliant with applicable laws and regulations
Strong leadership qualities with the ability to manage both small and large teams while assessing and developing team skill sets and providing timely constructive feedback
Excellent interpersonal skills and ability to work effectively with colleagues across regions and Business Units
Strong written and verbal communications skills, attention to detail and effective time management skills
Ability to use various PC, MS Office and internet applications and tools to support AML processes
Ability to handle highly confidential information professionally and with appropriate discretion
Strong analytical thinking and critical reasoning skills
Ability to effectively handle a fast-paced environment and successfully meet established deadline requirements
Be self-motivated and must have the ability to work independently
Certification as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license – or certification within first 15 months of employment
Foreign language skills are a plus
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