Wealth Management / Segment Risk - Assistant Vice President

Employer
Morgan Stanley
Location
New York, USA
Salary
Competitive
Posted
Oct 04, 2022
Closes
Oct 18, 2022
Ref
17179140
Job Function
Wealth Management
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. Morgan Stanley Wealth Management (MSWM) has over $2 trillion under management and is one of the world's largest networks of Financial Advisors.

Morgan Stanley Family Office (MSFO) is a business unit dedicated to Ultra-UHNW clients with total net worth in excess of $150 million. The MSFO advises on the entirety of these client's investment portfolios (whether held at MSWM or another custodian), offers specialized and unique investment opportunities and provides bespoke family office services.

Segment Risk is a group within National Business Risk that covers Wealth Management's specialized business units and is responsible for both supporting strategic risk initiatives and projects, as well as covering day-to-day field risk issues. The MSFO represents a primary area of coverage for Segment Risk along with the following segments (among others):

  • Custom Solutions OCIO
  • Family Office Resources (FOR) / Family Office Services (FOS)
  • Wealth Strategies Group (WSG)
  • Private Wealth Management (PWM)
  • International Wealth Management (IWM)
  • MS @ Work/Executive Financial Services
The position will primarily support the MSFO, with a focus on further developing and implementing the risk and control framework for this channel. This position will have day-to-day responsibility for investment risk supervision, execution and enhancement of investment risk controls, as well as the continued development of the FOS non-investment services business offering, a joint venture between the MSFO and PWM. For example, the role will focus on risks and controls related to investment due diligence, investment committees, investment and non-investment fee reasonableness, and the activities of select clients of a Senior PWM team and the FOS business offering. The role will also support the presentation of periodic MSFO Business Reviews.

PRIMARY RESPONSIBILITIES:
  • Provide day-to-day field risk coverage for the MSFO and FOS business offering
  • Implement control environment for FOS non-investment services, including bill payment, expense management reporting, custom consolidated performance reporting and FOR
  • Supervise the oversight of assets held by clients away from Morgan Stanley on which due diligence must be performed
  • Develop, implement and maintain periodic risk reports tailored to the specialized family office platform (metrics/analysis on assets held away, fees, non-investment services and associated control effectiveness)
  • Serve as a supporting risk officer in the development of specialized offerings to the firm's Ultra-UHNW family office clients
  • Support the periodic reporting to senior risk management personnel on the implementation and efficacy of the family office risk controls


Qualifications:

  • Bachelor's degree and a minimum 5 years of industry experience in wealth management or investment products
  • Prior experience working in a compliance, legal or risk management function
  • Familiarity with investment due diligence and SEC & FINRA marketing and advertising rules preferred
  • Ability to identify and evaluate risks as well as present practical solutions to address and/or mitigate such risks
  • Strong collaboration skills across both the corporate and field structures
  • Self-starter with a strong sense of ownership, accountability, and work ethic
  • Excellent written and oral communication skills
  • Strong organizational, analytical, and problem solving skills
  • Strong Microsoft Excel, PowerPoint and Word skills
  • Security Registration license Series 7 is required
  • Security Registration license Series 9/10 or 24 is required within 180 days

This role requires that all successful applicants be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccinations within 3 days of commencement of employment.
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