Vice President/ Affiliate Third Party Risk Management /Operational Risk/

Job Description - Vice President, Affiliate Third Party Risk Management (Operational Risk) (3256814)Job Number: 3256814Posting Date: Aug 2, 2024Primary Location: Americas-United States of America-Maryland-BaltimoreOther Locations: Americas-United States of America-Georgia-AlpharettaEducation Level: Bachelor's DegreeJob: OtherEmployment Type: Full TimeJob Level: Vice PresidentFirm OverviewMorgan 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.Legal and Compliance Division OverviewThe professionals in the Legal and Compliance Division (LCD) provide a wide range of services to our business units. LCD is comprised of the Legal, Regulatory Relations, and Non-Financial Risk departments which preserve the firm's invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that are designed to meet regulatory requirements around the world. We also strive to maintain cooperative relationships with governmental policy makers and the regulatory and self-regulatory agencies that govern the firm's businesses.Background on the PositionThe role will reside within NFR's Operational Risk Department focusing on Third Party Risk Management, with a particular focus on affiliated third parties.Operational Risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets). The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing).There is a need to drive evolution and transparency of the underlying Affiliate Third Party Risk Management framework, support and recommend industry leading best practices and technologies and introduce new controls and processes to strengthen the existing framework. The individual will play a critical strategic role in driving risk management oversight activities, which may include development of risk metrics and reporting, deep dives and analyses, and ongoing supplier risk assessments. The individual will also support adoption of these risk management activities within the Firm's framework, standards, methodology, while driving day-to-day oversight of these risks across the US Banks'.Primary Responsibilities Focus on governance and oversight to identify, assess, mitigate, and report aggregate portfolio-level exposure and risks of the US Banks affiliated third parties and sub-contractors.Support US Banks' ORD in relevant third-party governance, steering, and working group committees and ensure that risk and control-related activities follow Regulatory requirements and expectations.Support transparency and maturity of the Affiliate Management program through effective challenge of the overarching Third Party Risk Management Framework.Participate and lead ongoing risk assessments pertaining to the affiliate third party portfolio in support of risk identification and mitigation opportunities.Assess existing and emerging third party risks (e.g., cloud computing, information security, cyber and resiliency) in a rapidly evolving threat environment.Execute Operational Risk activities within the Bank's ORD framework to demonstrate effective challenge of supplier risk profiles and drive the appropriate level of governance and risk management within the Bank's tolerance.Maintain and/or oversee relevant policies and procedures related to US Banks ORD Affiliate Third Party Risk Management processes.Qualifications Required ExperienceAn undergraduate degree (i.e., B.A., B.S., or equivalent) is required.Five to ten years of relevant Financial Services program management experience; exposure to sourcing / procurement, vendor risk management preferable.Comparable experience in vendor risk management within other highly regulated non-Financial Services industries will also be considered, for example aviation, insurance, automotive, government, healthcare, manufacturing, etc.Logical thinking, ability to analyze complex sets of data and convert to meaningful risk information and reporting.Strong analytical and problem-solving skills with the ability to effectively manage several projects/tasks concurrently.Program management skills with a focus on effectively communicating complex analytical concepts to senior management.Demonstrated ability to collaborate across multiple functional areas while maintaining suitable independence and effective challenge.Proficiency in Microsoft Word, Excel, Access, and PowerPoint.Familiarity with visualization tools (e.g., Tableau) and vendor risk management tools (e.g., Archer, Process Unity, ServiceNow, etc.) is preferable.Preferred ExperienceFamiliarity with relevant Banking, Financial Holding Company, and securities regulations.Expected base pay rates for the role in Baltimore and Alpharetta will be between $105,000 and $170,000 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).#J-18808-LjbffrOriginal job Vice President/ Affiliate Third Party Risk Management /Operational Risk/ posted on GrabJobs ©. To flag any issues with this job please use the Report Job button on GrabJobs.