Career Center
New York, New York
New York, New York
Bloomington, Illinois
Posted: 17-Mar-23
Location: New York, New York
Type: Full Time
Categories:
Preferred Education:
Internal Number: 3233166
The Infrastructure Compliance Function is responsible for the second line oversight of infrastructure based regulatory processes supporting the Morgan Stanley businesses. The team also provides broader compliance support and advice to Morgan Stanley's infrastructure areas. This includes outsourcing and third-party vendor management.
This role will report to and work closely with the Americas Head of Outsourcing and Third-Party Compliance, who is be responsible for the design, execution and oversight of the compliance program related to Outsourcing and Third Party Vendor Management in the Americas. This role will also include some responsibility for assisting with the program outside the Americas.
KEY ROLE RESPONSIBILITIES
- Rules management
- Keeping up to date with relevant regulatory developments in the Americas, identifying upcoming changes in a timely manner, contributing to regulatory consultation responses, assisting in analysis of regulatory developments to interpret impact on third party program.
- Advisory support and guidance
- Providing analysis and guidance to stakeholders in the Americas on implementing and enhancing controls and governance frameworks around outsourcing and third-party relationships. This will include providing strategic direction as to program design and ensuring the program meets regulatory expectations and aligns with industry best practice
- Advising on proposals by business units to outsource functions.
- Cooperating with colleagues across the Outsourcing and Third-Party Compliance team globally to share knowledge and drive alignment of approach on similar issues where feasible
- Testing and monitoring
- Designing and implement testing and monitoring processes relevant to the third-party program
- Training
- Providing training to stakeholders on relevant topics
SKILLS REQUIRED
- Five + years' experience in a vendor management / outsourcing or related role at a US regulated entity.
- Understanding of relevant regulatory approach in USA and the Americas (with particular reference to Fed and OCC requirements and FINRA rules), with broad understanding of the global regulatory approach.
- Understanding of outsourcing and third party management in a financial services or related industry context, including in relation to the use of cloud-based services, contingent workers, and off-shore providers.
- Understanding of the business model and operational setup of a global financial institution
- Experience in identifying and interpreting changes to relevant laws or regulatory guidance, and communicating impact to stakeholders
- Experience in reviewing, developing and implementing policies and procedures, in collaboration with other stakeholders
- Experience in dealing with regulatory requests for information
- Ability to review and challenge proposals to ensure that there has been adequate consideration of regulatory requirements
- Ability to track and interpret industry trends
- Ability to work with global colleagues to develop and implement global standards and frameworks for governance and management of outsourcing
- Ability to build relationships of trust with members of the Legal and Compliance department and stakeholders from business units and support & control functions.
- Excellent presentation, drafting and interpersonal skills - ability to communicate clearly and concisely both in person and in writing.
- Excellent analytical, program management and numerical skills.
- Detail oriented and good memory skills.
- Ability to work independently and drive projects and initiatives
- Ability to remain focused under pressure.
- Ability to perform multiple tasks simultaneously.
- Confidence to use own initiative and apply judgment
- Enthusiasm and aspiration to continue to learn and develop.
Expected base pay rates for the role will be between 110000 and 190000 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.
