US FIC Non-Market Risk NY Associate / VP Position recruitment

Position Category: Fixed Income Sales Trading

Position Title: US FIC Non-Market Risk NY Associate / VP Position

Job Level: Associate/Sr Associate

Location: USA - NY - New York

Education Required: Bachelors Degree

Position Description:
FIC Non-Market Risk Department
FIC Non-Market Risk Management is responsible for managing the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events for the Fixed Income, Commodities and Bank Resource Management divisions in Morgan Stanley's Institutional Securities Division. These responsibilities include determining operational risk strategy and setting related priorities within these sales and trading business units as well as in other key support functions such as Information Technology, Operations, Controllers, Internal Audit and Firm Operational Risk. The team is also responsible for the development of policies and procedures and creation, ownership or oversight of various risk controls and compliance processes such as monitoring of key risk metrics, new product approvals, allocation of operational risk capital, eTrading governance, implementation of supervisory oversight initiatives, and review of key operational risks with business and functional support management. The department also sponsors, initiates and/or leads various risk mitigation and remediation projects related to risk reporting for management oversight, systems design, regulatory reviews, risk control self-assessments, audits, core security initiatives and similar programs.
Summary
The Fixed Income and Commodities Non-Market Risk group is looking for a senior Associate or junior VP in NY as a generalist operational risk manager to support multiple daily responsibilities as well as project work within the group. Central to the role will be representing the FIC Non-Market Risk Department in all NY New Product Approval (NPA) quorum meetings and development of a division-wide client order management platform, policy and procedure. Significant opportunity exists to take on additional work in various high profile strategic process, data and infrastructure re-engineering initiatives required to meet regulatory requirements.
Responsibilities
• FIC Non-Market Risk forum member for Credit, Securitized Products, FX, Emerging Markets, Interest Rates, Commodities, Bank Resource Management and MS Bank NPA meetings in North America. Evaluation of non-market risks of new business proposals and the NPA meeting proceedings. Evaluation of risk analysis and remediation approaches across functional areas including understanding of controls proposed for inherent risks and resulting residual risk. Follow-up on open issues and conditional or unconditional approval sign-off.
• Ownership of NPA governance within the BU including data integrity of records and investigation, tracking, follow-up and sign-off on all Post Execution Reviews (PERs), Aged Unexecuted NPAs and NPAs Executed Before Approval.
• Responsible for FIC, BRM and Bank business requirements for NPA technology systems and tools used by the BU NPA risk managers. Includes working group participation, sign-off on business requirements and testing for NPA for technology developments on behalf of the BU.
• Driving the business requirements and project development of a division-wide order management system including setting policy and writing procedures for order taking and related governance.
• Leading, contributing to or collaborating on various divisional or firm-wide regulatory responses and/or projects related to strategic process, data and infrastructure re-engineering initiatives required for regulatory compliance.
• General day to day response to risk management situations needing immediate attention and follow-through such as investigating and helping resolve problems with operational risk incidents, compliance and regulatory matters, regulatory inquiries, technology outages, change management issues.

Skills Required:
Key Skills and Experience Requirements:
Ideal candidate will have broad knowledge of fixed income and commodities products, processes, and risks and prior experience with new product approval forums or quorums or risk management is an important prerequisite. Additionally the candidate must have exceptional organizational skills and a high degree of attention to detail, be technology conversant, and possess the business knowledge and practicality needed TO DELIVER on practical solutions to front office problems in the real world of trade-offs and limited resources.
Skills Required
• Business/Product Knowledge: A good understanding of finance and the processes related to the marketing, selling and trading of securities, derivatives and/or commodities in the financial services industry preferably in a global investment bank. Prior experience as a trader, risk manager, operating officer or senior operations manager a plus.
• Project Management/Risk Management: Prior work experience and demonstrated aptitude in both of these disciplines in a major global investment banking institution. Prior risk assessment and risk management experience with focus on trade entry, electronic trading, operations processing, exception management and technology change management.
• Communication: Excellent oral and written communication skills and a proven ability to work in a fast-paced and high pressure environment are essential as this role involves a high amount of interaction with business unit, technology, internal audit, controllers and operations management across FID, BRM and Commodities.
• Guardianship: Candidates should have an understanding of and strong focus on the control environment.
• Organizational Skills: Candidates should be able to coordinate several parallel objectives while responding to ad hoc requests. Flexibility is a key element as the role will require the ability to understand and react to changes in priorities. Comfort working with ambiguity, managing and resolving complex issues.
• Leadership: Candidates need to be able to demonstrate the ability to take ideas forward and to challenge others with integrity and maturity.
• Proficiency in MS Office and related applications (Word, Excel, PowerPoint, Project)
Skills Desired
• Management consulting with a track record of rapidly acclimating to a fast-paced and constantly changing environment working under pressure.
• Understanding of Operational Risk and associated regulations (e.g., Basel, SOX, etc.) and the associated application to a financial services business.
• Knowledge of the Morgan Stanley systems and infrastructure.