EMEA Enterprise Operational Risk and Control
Position Description
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.
Enterprise Operational Risk and Control (EORC) partners with the Business Units (Front Office and Infrastructure Divisions), which comprise the first line of defense for Operational Risk Management, to provide a standardised, centralised and controlled Operational Risk Management execution function.
EORC is responsible for designing and executing risk and control self assessments (RCSAs), facilitating risk incident capture, managing standardized process/risk/control taxonomies and managing the various tools used to capture operational risk information. EORC works closely with the Firm-wide Operational Risk Department (ORD) who are responsible for the overall framework, strategy and policy for Operational Risk management.
EORC is a global function based out of New York with regional teams in EMEA (London) and Asia (Hong Kong and Shanghai).
The EMEA team's objective is to execute programs in the EMEA region to help our EMEA stakeholders mitigate and manage Operational Risk by leveraging support and resources from global EORC and by partnering with our business unit stakeholders and ORD. The team is responsible for working directly with the Business Unit risk officers (coverage areas) in the EMEA region.
The role of the EORC EMEA coverage team is to:
• Provide advice/guidance and general execution support to coverage areas in order for them to fulfill their requirements of meeting the Operational Risk framework deliverables.
• Ensure the components of the Operational Risk Framework are executed in accordance to the firm's policies and procedures through on-going monitoring and review.
• Execute training and promote Operational Risk framework awareness within the coverage areas.
• Serve as escalation contacts in the region for quality, completeness and timeliness of various Operational Risk data.
• Gather requirements and provide support for toolsets used to manage operational risk.
• Interact with EORC global workstreams owners to represent coverage area feedback as well as provide an independent viewpoint based on coverage knowledge to further enhance the workstreams.
Key Responsibilities of this role are to:
• Support the team leads and coverage areas in execution of the various EORC workstreams in the region
• Lead and provide support with analysis and monitoring of quality of the various Operational Risk components focusing on EMEA inputs and impacts by leveraging the global EORC team where possible and supplementing support for the region. This includes:
o Review incident population on a regular basis to ensure quality and completeness of loss incidents as well as the timeliness of capture and subsequent sign off.
o Perform ad hoc quality assurance reviews of a sample of incidents to ensure compliance with policies.
o Review Business Unit, Control Group or Legal Entity risk incident procedures to ensure consistency with the Global Operational Risk Policy and procedures.
o Review external loss incidents and determine applicability across the regional coverage areas.
o Monitor RCSA for completeness in terms of the number of RCSAs, timeliness of completion and for comprehensiveness of risk coverage and that appropriate stakeholders have been involved in terms of self assessment.
o Help develop and produce summary / analytical reporting of the RCSA data across the various coverage areas.
o Monitor usage and application of risk taxonomies
o Monitor risk acceptances in accordance with defined timelines and approval requirements and capture of any issues/actions in the firm-wide tracking tools. Perform ad hoc quality assurance reviews of a sample of self identified risks to ensure risk acceptance/mitigation compliance.
o Using standardized reports generated by EORC, review the process, risk and control themes, trends, ratings as well as general compliance to policy and procedures.
Skills Required
The ideal candidate will have related experience at an investment banking institution or a background in management consulting with a track record of rapidly acclimating to a fast-paced and constantly changing environment while working under pressure.
Experience presenting reports to senior management, analysing operational risks.
MS Office proficiency: The candidate must have very strong Excel and PowerPoint skills and a strong capability in visual representation of information and data, and have experience in creating management reporting views in both Excel and PowerPoint.
Excellent oral and written communication skills and a proven ability to work in a fast-paced and high pressure environment. The ability to actively and proactively engage with key stakeholders.
Exceptional organisational skills, a high degree of attention to detail.
Analytical, creative, problem solving mindset. Flexibility is a key element as the role will require the ability to understand and react to changes in priorities.
Candidates should have an understanding of and strong focus on the control environment.
Risk management: Understanding of operational risk and associated regulations (e.g., Basel, SOX, etc.) and the associated application to a financial services business.
Skills Desired
Familiarity and experience with finance and the processes related to the marketing, selling and trading of securities, derivatives and/or commodities in the financial services industry is a strong plus, but is not essential.
The salary for this role is competitive.
Application closing date: 23rd August 2013
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential.
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