The Senior Institutional Risk Officer is responsible for a wide variety of supervisory, compliance, and risk functions related to the Institutional Infrastructure Solutions (IIS) Market. In conjunction with the Market Executive and other Institutional Risk Officers within the Market, the Senior Institutional Risk Officer has accountability in the Market for maintaining a consistent control environment through adherence of business ethics and practices and adherence to all applicable Federal, State and Local laws, Morgan Stanley Wealth Management policies, and other regulations. The Senior Institutional Risk Officer keeps the Market Executive and other senior business leaders informed of significant matters within the Market and must determine when the Market Executive, other Branch Managers within the Market and/or Head of Institutional Risk Officers should be directly involved.
Duties and Responsibilities:- Surveillance and Supervision
- Primary responsibility for all risk, supervisory, and compliance functions for the Market
- Communicates and facilitates any supervisory inquiry or process that requires escalation from the Market to the Head of Institutional Risk Officers
- Focuses on business ethics and regulatory and compliance practices
- Provides the coaching and guidance on policies and procedures in order to promote risk awareness and a compliant environment within the Market
- Ensures proper procedures are in place to ensure that approvals are handled appropriately and timely
- Manages the Institutional Risk Officers within the Market to ensure consistent supervisory practices
- Ensures procedures are in place for self-audits.
- Risk Management/Compliance/Legal
- Monitors and implements procedures to manage all facets of risk, including data security, across the Market
- Facilitates regular and consistent communication of Morgan Stanley Wealth Management policies and other regulations
- Liaises with the Legal and Compliance Division with customer complaints and litigation
- Together with the Market Executive and Institutional Risk Officers, ensures appropriate supervisory coverage is maintained at all times across the Market as required by Firm policy
- Oversees all responsibilities outlined in the Branch Supervisory Manual, as well as new policies to ensure the market has procedures in place
- Is responsible for the preparation for and response to audits, and ensures that any audit findings are appropriately responded to and remediated
- Works with Market Executive and Institutional Risk Officers to monitor people risk, and ensures appropriate action is taken
- Primary source for intelligence on risk in regard to clients and FAsActive involvement with margin and credit decisions
- AdministrativeWorks closely with Special Investigation Unit on any Human Resources issues as related to risk and compliance
- Together with the Institutional Risk Officers in the Market, facilitates the training of all personnel on Morgan Stanley Wealth Management compliance policies and procedures
- Runs or assists with various projects as needed
- Education and/or Experience
- Bachelor’s degree required or equivalent education or experience
- Previous industry experience
- Active Series 7, 8 (or 9 and 10), and 63, 65 (or 66)
Knowledge/Skills
Knowledge of SEC, FINRA and Firm Compliance Policies and Procedures
Effective written and verbal communication skills
Strong attention to detail
Ability to prioritize and resolve complex problems and escalate as necessary
Ability to identify issues and trends in order to anticipate change and provide recommended comprehensive solutions and remedies
Evidence of strong leadership capabilities or previous supervisory experience
Ability to organize and prioritize workflow and assignments in a deadline oriented environment
Ability to interact with Financial Advisors, senior business partners, and clients
Excellent judgment and the ability to be discreet in all matters
Strong work ethic
Direct reports
Institutional Risk Officers
