Skip to main content

This job has expired

You will need to login before you can apply for a job.

Executive Director - Operational Risk Audit Coverage U.S. Banks

Employer
Morgan Stanley
Location
New York, USA
Salary
Competitive
Closing date
Jul 12, 2022

View more

Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
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 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 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 firm?s internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firm's 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.
#LI-LA1

Qualifications:

Position Description

Morgan Stanley is seeking an Executive Director to lead the operational risk audit coverage for the U.S. Bank legal entities.

This audit professional will report to the Audit Coverage Director of the Global Operational Risk audit team. As part of this role, the professional will be expected to develop and maintain effective relationships with Operational Risk Department (ORD) stakeholders covering the U.S. Banks and will directly oversee team members with primary responsibilities for auditing ORD.

Primary Responsibilities

The successful individual will oversee the Operational Risk audit portfolio for the U.S. Banks, which involves:

  • Building and maintaining senior business relationships to assist in the development, planning and/or performing of audits focusing on all aspects of the core Operational Risk Management framework (e.g. Operational Risk Incidents, Scenario Analysis, RCSA, Top Operational Risks etc.). This will include relationships with the Head of Operational Risk Management for the U.S Banks and direct reports.
  • Driving the audit coverage for second line Operational Risk Management for the U.S Banks from end to end, and ensuring that management focus areas (eg, cybersecurity, e-trading, etc.) and relevant OCC regulatory requirements are adequately scoped into audits and reviews.
  • Oversee the performance for team members covering second line operational risk audits for the U.S. Banks, including their semi-annual performance evaluations.
  • Developing the Risk Assessment for Operational Risk for the U.S Banks, and ensuring it remains current through performance of continuous monitoring.
  • Ensuring execution of the audit plan within Departmental methodology, policies and standards.
  • Communicating with senior management and external stakeholders
  • (including regulators) to discuss status of the audit plan, results of test work, and preparation and discussion of Board Audit Committee quarterly reporting.
  • Representing Risk Management Internal Audit on relevant senior-level committees and other governance forums.


Skills required (essential)

At a minimum, the successful candidate would be expected to demonstrate the below skills & experience:

  • 15+ years' experience, with in-depth, technical understanding of core operational risk management concepts and methodologies, preferably having worked in risk management internal audit in a major bank/financial institution with trading activities.
  • In-depth understanding of relevant regulatory requirements as they pertain to core operational concepts and associated emerging risks (e.g. cyber, electronic trading), as well as deep understanding of financial products generally.
  • Management skills, both in terms of running audits (both across and within regions) and individual performance management.
  • Ability to build and maintain credible relationships with senior management, ideally in a Risk function, and strong networking capabilities.
  • Strong verbal and written communication skills, with the proven ability to write clear and concise findings, recommendations and reports.
  • Strong analytical skills, with proven ability to lead audits/reviews on technical concepts.
  • Ability to effectively multi-task and manage multiple competing deliverables within tight timeframes without compromising on quality of output.
  • Strong understanding of audit resource management, including overseeing the team?s forecasts and ensuring audits within their portfolio are appropriately staffed at all times.
  • Experience in dealing with regulators and understanding their expectations in terms of documentation, closure verification work and coverage of relevant regulatory requirements.
  • 4 year college degree

Skills desired

  • CPA, CIA, CFA and /or FRM qualifications a plus
  • Expertise in risk management related to cybersecurity, e-trading, vendor risk or generally trading-related risk would be beneficial.
#LI-LA1

Sign in to create job alerts

Sign in or create an account to start creating job alerts and receive personalised job recommendations straight to your inbox.

Create alert