VP-Head of Core Compliance
Position Description
Morgan Stanley is a global financial services leader with three core businesses - Institutional Securities, Asset Management, and Global Wealth Management. Global Wealth Management is offered by Morgan Stanley, which has one of the world's largest network of Financial Advisors and current total assets of 1.7 trillion as of April 21, 2011. Morgan Stanley has expanded its suite of world-class banking and lending products for Morgan Stanley Financial Advisors and their clients. In addition to our comprehensive financial services, which include brokerage, investment advisor, financial and wealth planning, annuities, insurance and retirement, Morgan Stanley has enhanced its lending, trust and cash management capabilities. By combining our lending financial services business with private banking products built specifically to service the needs of Financial Advisors and their clients, we can tailor banking and lending solutions to meet client needs.
Morgan Stanley seeks a key Mortgage Division Compliance Officer under Morgan Stanley Private Bank, National Association, MSPBNA, to oversee all compliance activities and matters of the residential mortgage lending originations and servicing entities of Morgan Stanley's U.S. Banks (collectively "the Companies"). Emphasis will be on regulatory advice relating to the residential mortgage origination and servicing operations and oversight of third-party service provider.
The Bank Group Compliance Administrative Officer is responsible for supporting the efficient functioning of Bank Group Compliance which covers the U.S. Banks of Morgan Stanley ("U.S. Banks") including:
-Direct the development, implementation, and dissemination of compliance policies, procedures, manuals and bulletins for the U.S. Banks.
-Direct the development, implementation and on-going maintenance of the Annual Compliance Programs for the U.S. Banks including coordinating the Bank Compliance risk assessments.
-Direct the development, implementation and dissemination of compliance training for all employees of the U.S. Banks.
-Assist with the coordination of examination/internal audit materials from respective business units of the U.S. Banks pursuant to regulatory examination/internal audit requests.
-Manage the work of four compliance staff, assign specific duties, and ensure adherence to quality standards and deadlines.
-Oversee and monitor all aspects of the Annual Compliance Plans (ACP) for the U.S. Banks, including modifications to existing plan, tracking remediation plans to completion and ensuring the appropriate level of sustainability testing is conducted prior to closure.
-Provide ongoing project management oversight, tracking and Compliance support. Serve as the quarterback on all ongoing projects, ensuring Compliance representation is adequate and proper reporting to BGC team is thorough.
-Maintain all Bank Group Compliance SLA's and Task Orders, making sure reviews are done quarterly between the Customer Service Managers and the Suppliers, and ensuring the annual reviews are done in a timely manner and all costs associated with each are properly determined and allocated.
-Monitor all Compliance related issues in RADAR, ensuring timely completion and closure of all Compliance identified items, or items assigned to Compliance for remediation.
-Coordinate BGC's role in New Product Approvals, ensuring timely completion of checklists, sign off and/or escalation of issues.
-Development and maintenance of appropriate BGC, management and Board level reporting on all activities of the department.
-Maintain oversight and tracking of all risk assessments assigned to BGC or in which we are asked to provide significant levels of input (e.g. Operational Risk RCSA's, FHC Governance Risk Assessments, etc).
-Ensure policies and processes across the U.S. Banks are consistent, where possible.
Skills Required
-Strong leadership and managerial skills
- Exceptional reasoning and analytical skills
- Exceptional ability to explain complex topics and issues, and to deliver prompt, clear answers that business can act upon with confidence.
- Strong client-relations skills and ability to partner with clients to develop practical solutions
-Ability to educate and inform clients about the legal framework affecting their business activities so that clients are better equipped to take those factors into account in developing programs.
-Ability to lead special projects and initiatives.
-Excellent organizational skills to be able to manage a large workload using paralegal and other staff.
-Strong work ethic and drive.
-Strong team-orientation
-Able to handle confidential information professionally and with appropriate discretion.
-Outstanding written and verbal communication skills, including negotiating and drafting skills.
-Ability to effectively present information in one-on-one and group situations to customers, clients, and other employees for the organization.
-Ability to develop strong and constructive relationships with regulators and to lead responses (fully and promptly) to reg inquiries/exams.
Experience:
-Bachelor's degree (B.A.).
-MBA from accredited business school or Law Degree (J.D.) from ABA-accredited law school will be considered a positive.
-Member of the bar of one or more states or CRM certification is preferred, but not required.
-At least 10 years experience in mortgage banking, consumer finance or retail banking lending, compliance or legal department.
-Experience managing other compliance professionals and/or attorneys and performing other department administration functions.
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