Senior Consumer Compliance Specialist
Position Description
General Job Description:
Morgan Stanley seeks a Senior Compliance Coverage Specialist to help support the High Net Worth Banking/Lending Compliance Lead's oversight and administration of the following regulatory and fair lending compliance activities associated with the Morgan Stanley US Banks' lending products and services: (i) project fulfillment; (ii) monitoring and testing; (iii) advertising, marketing and training material reviews; (iv) fair lending activity coordination; and (iv) advice and guidance.
Job responsibilities:
• Review business requirement documents, functional requirement documents, and new products;
• Act as compliance representative on line of business product-related or process improvement projects;
• Perform regulatory compliance policy, procedure and control effectiveness test checks and targeted reviews;
• Review and approve advertising and marketing materials from a consumer and fair lending compliance perspective;
• Assist in compiling and assessing: (i) fair lending reports; (ii) research materials; (iii) peer institution investigative findings from regulators or through litigation; and (iv) fair lending-related consumer complaints utilized in the administration of the Morgan Stanley US Banks' Fair Lending Compliance Program;
• Prepare job-specific consumer and fair lending compliance case studies and examples to be used for training purposes;
• Help business lines draft and maintain product specific policies and procedures that properly address regulatory compliance; and
• Offer compliance related advice and guidance on line of business product related or process improvement projects and on ad-hoc basis, provide assistance on other special assignments or projects as-needed, and maintain reports for management.
Skills Required
Skills Required:
• Strong knowledge of compliance-related US banking laws and regulations, especially in the area of consumer compliance and fair lending;
• Exceptional reasoning and analytical skills
• Ability to offer solution-based guidance to lines of business;
• Ability to simplify complex compliance terms and conditions;
• Communicate effectively, orally and in writing;
• Ability to interact, negotiate effectively and foster partnership and collaboration with team members from Business, Compliance, Legal, and Operational Risk;
• Excellent organizational skills, attention to detail and time management, supported by a strong work ethic and drive toward excellence; and
• Ability to proactively research and stay current of the changing laws and regulations applicable to Bank coverage area(s).
Skills Desired
Experience:
• Bachelors degree required
• 5-10 years bank compliance experience, regulatory or compliance audit experience
• Experience with consumer banking products, securities based lending products, residential and commercial mortgage lending products, and various other collateralized loan types required
• CRCM or PMP professional designation a plus
• Experience in a variety of consumer compliance activities including CFPB, OCC, FDIC and Federal Reserve requirements a plus
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