Location: Baltimore,MD, USA
We're seeking someone to join our team as a Third Party Risk Director to be responsible for supporting the ongoing development, implementation and management of the Firms third party risk management program. This role involves assessing and monitoring risks posed by third party vendors, suppliers, partners and inter affiliates to ensure compliance with internal policies, regulatory requirements and relevant industry standards.
In the Corporate Services division, we provide solutions that enable Morgan Stanley's workforce, across our global workplace locations, to effectively and efficiently work in the service of our clients. This is a Director position within Third Party Risk Management, which specializes in identifying, analyzing, and managing risks presented to a company as a result of working with external parties / vendors.
Morgan Stanley is an industry leader in financial services, known for mobilizing capital to help governments, corporations, institutions and individuals around the world achieve their financial goals.
Interested in joining a team that's eager to create, innovate and make an impact on the world? Read on...
What you'll do in the role:
* Support Morgan Stanley's Business Units in identifying and managing Third Party risks in accordance with the Firm's TPRM framework, coordinating with other functional and regional TPPM teams as required
* Monitor and assess Business Units' adherence to policies, standards, and procedures
* Review proposed new, and changes to existing, outsourced services and partner with Business Units to ensure required procedures are followed standards are met
* Track, investigate and report on Third Party incidents and events which impact or pose a risk to Morgan Stanley, coordinating with global TPPM teams and impacted Business Units
* Identify and escalate risks and issues for resolution, escalating to the Regional and Global Head as appropriate, and work with the Businesses and Support Functions to investigate, manage and mitigate
* Provide support to the TPPM teams response to any upcoming changes and challenges in the EMEA regional regulatory landscape
* Ensure that due diligence and risk assessments are performed for all third party services as well as impacted jurisdictions
* Monitor and reporting on program metrics that measure against agreed upon SLAs, including monthly scorecards and performing trend analysis
* Provide timely delivery of required reporting and responses to Audit, Compliance and regulatory requests related to the Program and the Firm's third party services and outsourcing data
* Performing a QA role in support of our adherence to the Program requirements
* Maintain relevant procedures and documentation for the Program
* Training and awareness support for Business Units and other relevant stakeholders
* Assist in developing policies and programs related to third-party risk management, ensuring they reflect best practices and regulatory expectations.
What you'll bring to the role:
* At least 5 years in third party management or equivalent experience
* Experience in Global Banking or Financial Services organizations, preferably in roles relating to Internal control and risk management
* Strong risk management and analytical capabilities along with the ability to translate data analysis into actions and results for Senior Management
* Excellent English writing skills with ability to flex messaging to audience is required
* Strong project management skills, including ability to coordinate with cross-functional teams across the globe with varied backgrounds and skills
* Excellent communication skills and proven ability to effectively interact with team members, Business Units, and peers, earning their trust and establishing credibility
* Strong understanding of multi-jurisdictional regulatory requirements for managing Third Party and outsourcing risk in Financial Services organizations
* Experience in developing and maintaining process and procedural documentation
* Bachelor's degree or equivalent combination of training and experience
* Strong proficiency in Microsoft Excel
* Ability to work in a global team environment, building and maintaining a network of contacts and coordinating with a large number of stakeholders
What you can expect from Morgan Stanley:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values: putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you will find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry.
At Morgan Stanley Baltimore, we support the Firm's global Technology, Operations, Risk Management, Legal and Compliance, Internal Audit and Finance divisions. Morgan Stanley has been rooted in the Baltimore community since 2003. Our talented and diverse team is one of the largest in the U.S. outside of our New York headquarters and home to industry leading cybersecurity innovation with multiple patents and awards. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. There's ample opportunity to move across the businesses for those who show passion and grit in their work.
Expected base pay rates for the role will be between $75,000 and $115,000 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.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).