Company Profile
Morgan Stanley (MS) is a global financial services firm that conducts its business through three principal business segments-Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services.
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 doing the right thing, putting clients first, leading with exceptional ideas and a commitment to diversity and inclusion. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, achieve, and grow.
Department Profile
The EDD Operations Team is embedded within the Firm’s Wealth Management Operations Group. It is responsible for identifying, collecting, and ensuring all documentation and information associated with higher risk client types has been received in good order. The EDD Operations Team is considered the first line of defense and supports the onboarding, client due diligence, and negative news processes for Morgan Stanley clients.
Responsibilities
The EDD Operations Associate is a part of Wealth Management Operations and is responsible for overseeing processes related to the Enhanced Due Diligence program. The Associate will support the execution of the Firm’s EDD protocols for both new and existing customers. This includes managing programs and processes to support the examination of potential AML risk exposure for the Firm.
The EDD Operations Team Associate Will
> Strong knowledge of control frameworks and the ability to design and evaluate effectiveness of controls embedded within business processes.
> Provide operational services in support of the growth of the WM and US Banks businesses.
> Partner with the Business Units, including Private Bankers, Lending Advisors, and Branch Risk Officers, to ensure appropriate client on-boarding due diligence processes are enacted while providing a positive client experience.
> Demonstrate a strong understanding of the compliance and regulatory frameworks that apply to financial institutions.
> Ensure the appropriate collection of required information and or documentation for new and existing clients to effectively support the firm’s KYC program.
> Examining the source of wealth of certain new and existing Morgan Stanley clients.
> Review documents and information to perform client due diligence reviews on higher risk customers.
> Exhibit an ability to balance multiple, changing priorities in a dynamic and fast-moving working environment.
> Partner with the US Banks, E*TRADE and WM Business Units to ensure appropriate adherence to client due diligence processes while providing a positive client experience.
> Demonstrate the ability complete incoming EDD case assignments while meeting deadlines.
> Drafting and updating procedures and desktop guidance related to the client onboarding processes.
Qualifications
Required Experience:
> Have 3 – 5 years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.)
> Have an undergraduate degree in Business, Finance, or related field.
> Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements.
> Strong interpersonal skills and ability to communicate effectively both verbally and in writing.
> Experience focused on examining potential clients’ source of wealth during the client onboarding process.
Ability To
> take initiative, analyze, summarize, and communicate effectively
> investigate, identify issues, impacts and trends to propose comprehensive solutions
> multitask effectively and action matters promptly
> work independently and in a team environment and take initiative
> handle highly confidential information with appropriate discretion.
> work in a high volume, fast paced environment; and
> work in a matrixed organization; leveraging resources across the organization to complete deliverables.
Additional Skills Desired
> Experience with data and trend analysis related to the management of an AML program.
> Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is an advantage.
> Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly.
> Legal background / experience an advantage.
> Native or professional fluency in Spanish, Portuguese, Russian or Chinese is an advantage.
> Strong verbal and written communication skills.
> Good time management and attention to detail are critical to this position.
> Good analytical, research, organizational, and project management skills.
> Strong individual contributor with the ability to collaborate across teams.
> Expertise in examining potential clients’ source of wealth during the client onboarding process.
“Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.”
Posting Date
Mar 19, 2024
Primary Location
Non-Japan Asia-India-Maharashtra-Mumbai (MSA)
Education Level
Bachelor’s Degree
Job
Other
Employment Type
Full Time
Job Level
Associate