IAD Risk Capital Planning - VP

Morgan Stanley
New York, USA
22 Oct 2021
05 Nov 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Company 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 Firms employees serve clients worldwide including corporations governments and individuals from more than 1200 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 culture.

Internal Audit
Internal Audit is responsible for validating whether the firm operates in a controlled environment with appropriate risk-management processes. Auditors evaluate the adequacy and effectiveness of the firms internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firms compliance with internal guidelines set for risk management and risk monitoring as well as external rules and regulations governing the industry. The team reports directly to the Board Audit Committee and helps verify whether the firm meets all of its fiduciary responsibilities to shareholders while adhering to corporate-governance standards and legal and regulatory requirements.

Internal Audit is comprised of Business and Technology auditors. Business and Risk auditors focus on understanding the risks that the businesses face and the controls to mitigate those risks. Technology auditors focus on the application controls supporting the business processes including systems development application security and entitlements production management and technology governance. Both groups are responsible for understanding analyzing and testing the controls to protect the franchise.

Position Description
Morgan Stanley is seeking a Vice President who will work on Capital Planning audits with coverage including Risk Identification, Scenario Design, Stress Losses, and Independent Process Validation


Primary Responsibilities
Experience in financial services or Internal Audit with a preference for those with good understanding of financial products, risk management or Capital Planning experience
- Building and maintaining business relationships to assist in the development planning and/or performing of audits
.- Assesses inherent business risks and perform risk assessments at the audit entity and process level
- Prepares audit planning documentation, conducts walkthroughs, and assesses the internal control environment through control and substantive testing
- Evaluates the adequacy and the effectiveness of key controls and potential business concerns by analyzing available documentation and asking insightful questions to identify root causes and draw the appropriate conclusions
- Documents the results of work performed in the Department's automated workpaper system according to Departmental methodologies and documentation standards
- Assisting with the development of the Risk Assessment for Capital Planning and ensuring it remains current through performance of continuous monitoring.
- Ensuring execution of the audit plan within Departmental methodology policies and standards.
- Communicating the status of the audit plan results of test work.

Skills required (essential)
At a minimum, the successful candidate would be expected to demonstrate the below skills & experience:
- A four year college degree in a business discipline (e.g., Finance, Economics, Accounting).
- Eight to ten years of experience in either auditing capital markets/risk management or working in risk management in a bank or broker / dealer regulated environment or a consulting company.
- Strong control mindset and ability to identify key controls and processes as part of the audit planning cycle.
- The individual should be self-motivated, able to work independently, resolve challenging issues with innovative ideas, and demonstrates strong teamwork and communication skills.

Skills desired
- CPA, CIA, CFA and /or FRM qualifications a plus

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