Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management inclusive of E*TRADE, and Asset Management. Morgan Stanley’s network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion. 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 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 to grow.
Department Profile:
The Anti-Money Laundering Risk (AML Risk) team is embedded within the Firm’s business line. It is responsible for identifying, assessing and escalating potential money laundering and reputational risks associated with higher risk client types. The AML Risk team is considered to be in the First Line of Defense and supports the onboarding, client due diligence, enhanced due diligence and negative news screening processes for Morgan Stanley.
Responsibilities:
The AML Risk Associate – CAR will be responsible for executing risk-relevant activities related to AML. The AML Risk Associate – CAR will identify and assess potential Bank Secrecy Act (BSA), money laundering and reputational risk matters identified through the execution of the Firm’s CAR protocols for existing customers. The AML Risk Associate – CAR will have ultimate responsibility for the review, identification and, as appropriate, escalation of higher risk customer relationships.
The AML Risk Associate – CAR will:
Perform the First Line of Defense’s CAR process for existing clients, ensuring appropriate risk mitigationAnalyze transaction types and usage appropriate for the product(s) and/or service(s), as well as information collected during customer onboarding and the customer’s prior behavior (e.g., review of information included in the customer profile)Conduct reviews to determine whether the customer’s actual activity is reasonable and consistent with the customer’s expected activity given the nature and purpose of the customer’s account(s).Effectively communicate with branch and lines of business to obtain additional information and insight as neededDocument instances where actual activity is not in line with the expected activity (e.g., changes in transaction frequency/patterns, transactions to/from High Risk jurisdictions, etc.).Execute customer activity review escalation process to senior managementAppropriately assess risk exposure and provide recommendations for customers that fall outside of the Firm’s risk tolerance levelsActively identify, measure, control and remediate AML and reputational risk issues with partners in Global Financial Crimes Compliance and the Business UnitPartner with the WM and Bank Business Units, including International Wealth Management, Field Strategic Services, and WM Risk, to ensure appropriate adherence to BSA/AML requirements and Business Unit Risk Tolerance Actively manage pipeline and engagement with Financial Advisors, Complex Management and Risk Officers to manage WM and Bank client relationshipsPartner with the Second Line of Defense Global Financial Crimes Compliance teams, including US Investigations and Transaction Monitoring teams, to monitor client relationships on an ongoing basisAssist in executing key projects and initiatives related to assessing and mitigating exposure to money laundering and reputational risk-relevant activitiesPerform processes in accordance with internal policies, develop and monitor periodic AML reporting and metrics to senior stakeholders, and make recommendations to improve procedures governing AML-related activities#LI-P
Qualifications:
Have 2-4 years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Office of the Comptroller of the Currency, Federal Reserve Bank, Securities and Exchange Commission, etc.
Have an undergraduate degree in Business, Finance, or other related fieldWorking knowledge of MS Office suiteCertified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plusStrong knowledge of Know Your Customer, Customer Identification Program and Customer Due Diligence requirementsStrong interpersonal skills and ability to communicate effectively both verbally and in writingStrong work ethic with an ability to work both independently and with team members, under tight deadlines Ability to work in a high volume, fast paced environmentAbility to work in a matrixed organization; leveraging resources across the organization to complete deliverablesAbility to handle highly confidential information professionally and with appropriate discretion#LIMorgan 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).
Job: *Wealth Management
Title: Anti-Money Laundering Risk Associate - Customer Activity Review (CAR)
Location: Florida-Temple Terrace
Requisition ID: 3246110