The Field Compliance group focuses on Compliance-related functions that support the Wealth Management Field. It is comprised of the Regional Compliance, Field Compliance Review, Private Wealth Management/International Wealth Management, and Field Strategic Services teams.
The candidate will join Morgan Stanley Wealth Management's Compliance Department as a member of the Field Compliance Department. In this role, the candidate will serve as a senior member of the Field Compliance Department as well as the Regional Wealth Management business team. The candidate will have direct oversight of the Region utilizing data from the Legal and Compliance Division, including Surveillance, Conduct risk, Testing, Audit, Litigation, Field Risk management, and HR, assisting in the identification of activity that may be indicative of unusual conduct, trading patterns, potential gaps in supervision, or possible violations of law, regulations, or internal policies and procedures.
The successful candidate will be responsible for the following:
- Providing Compliance guidance and advice to Regional Management and Complex management on Firm and regulatory policies and procedures; - Collaborating with Regional Management on all high-risk matters identified within the Region (e.g., sales practice issues, conduct matters, outside business activities, and recruits); - Serving as the escalation point for Wealth Management Compliance teams on high-risk activities within the Region; - Assisting the Region and Complex teams as well as other areas of the Legal and Compliance Division in coordination and escalation of matters; - Assisting with the development or enhancement of Firm policies and procedures, processes, reports, etc., to identify hidden risks or non-conforming issues; - Conducting targeted employee and Complex training virtually or in-person on key Compliance issues; - Providing trends and analysis reports on Compliance-related data for Regional Management and Complex Management teams on a regular basis
- A strong understanding of SEC and FINRA regulations, with a particular focus on sales practice and suitability concerns involving retail products in brokerage and advisory accounts - Extensive knowledge of Futures, Annuities, Structured Investments, Alternative Investments, Exchange-Trades Products, Fixed Income, Equities, Options, Unit Investment Trusts and Mutual Funds - A thorough understanding of conflicts of interest and business practices typically associated with a broker-dealer (e.g. gifts, non-cash compensation, outside business activities, trading, etc.) - The ideal candidate will be proactive, have strong verbal and written communications skills and the ability to prioritize and handle multiple tasks in a fast-paced environment - Ability to analyze data and identify and escalate key trends, patterns, and root causes - Evidence of strong leadership capabilities or previous supervisory experience - Relevant Wealth Management Business experience - Ability to work within a team and act independently - Proven ability to interact with Financial Advisors and branch staff in a mature, productive manner - Excellent judgment and the ability to be discreet in all matters - Ability to challenge the business if there is regulatory or reputational risk - Bachelor's Degree required - Minimum 5 years work experience in a Senior Compliance or Risk role - FINRA Series 7 and principal licenses 9/10 or 24 preferred
Expected base pay rates for the role will be between $160,000 and $250,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
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