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Company Profile
Morgan 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.
Department Profile
Internal Audit is responsible for validating whether the firm operates in a controlled environment with appropriate risk-management processes. Auditors evaluate the adequacy and effectiveness of the firm’s internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firm’s compliance with internal guidelines set for risk management and risk monitoring, as well as external rules and regulations governing the industry. The team reports directly to the Board Audit Committee and helps verify whether the firm meets all of its fiduciary responsibilities to shareholders, while adhering to corporate-governance standards and legal and regulatory requirements.
Internal Audit is comprised of Business, Risk and Technology auditors. Business and Risk auditors focus on understanding the risks that the businesses face and the controls to mitigate those risks. Technology auditors focus on the application controls supporting the business processes, including systems development, application security and entitlements, production management, and technology governance. Both groups are responsible for understanding, analyzing and testing the controls to protect the franchise. Internal Audit is seeking a Director to join the U.S. Banks Audit team.
The successful candidate will be responsible for providing support, oversight and execution of various assurance activities (i.e., audits, continuous monitoring, closure verification, etc.) supporting the U.S. Banks. The candidate should have a strong understanding of internal audit and control concepts and strong knowledge of banks regulations, and bank products across deposits & lending, and knowledge of the banks’ risk governance framework and related risks. Additionally, the candidate should have sound time management, organizational, project management, communication and interpersonal skills.
Primary Responsibilities
> Execute and help oversee an effective, comprehensive internal audit plan based on a comprehensive risk assessment process;
> Execute and help oversee and supports risk assessments of Bank processes including in the evaluation of risks impacting the Bank based on Firmwide inter-dependencies leveraged by the Bank;
> Help oversee and govern firmwide audit activities (audits, continuous monitoring, closure verification) performed by jointly accountable audit teams that impact the U.S. Banks.
> Support the development of quarterly Bank Audit Committee materials
> Support responses to regulatory requests impacting the U.S. Banks
> Execute certain audit activities of the US Banks’ governance functions showcasing strong audit skills and project;
> Identify and assess areas of critical and high risks, including evaluation of the U.S. Banks’ risk profiles and emerging risks, to evaluate the soundness of the Banks’ controls;
> Develop and maintain effective working relationships with business units and internally within IAD including business and functional support teams;
> Proactively participate in discussion with stakeholders on Bank topics/matters and provide valuable insights on risks impacting the Banks;
> Develop clear messaging of risks and controls to the Bank stakeholders, including Senior Management & Committees, Regulators, and Audit Committee;
> Foster focus on high quality assurance to ensure i) compliance with U.S. Bank specific policies, procedures, and processes based on applicable regulatory and industry guidance; ii) appropriateness for the size, complexity, and risk profile of the Bank; and iii) periodic changes to internal and external risk factors, and are consistently followed.
Skills Required
> 3-6+ years of experience in financial services, with a preference for those with experience of auditing Bank products and associated regulations
> College degree (or equivalent) required, CPA and/or Certified Internal Auditor (CIA) a plus
> Good understanding of risk and controls and governance requirements.
> Robust understanding of internal audit workpapers and the ability to identify risk and controls and develop and execute testing plans.
> Knowledgeable of consumer compliance regulations, including but not limited to Truth in Lending Act (TILA), Fair Credit Reporting Act (FCRA), Fair Lending, Flood Disaster Protection Act, and Community Reinvestment Act (CRA)
> Knowledgeable of key compliance requirements driven by various regulatory guidelines, including but not limited to Compliance Heightened Standards (12 CFR part 30 Appendix D), liquidity and capital requirements, and Safety and Soundness standards (12 CFR Sect. 37.8)
> Sound interpersonal skills with demonstrated ability to collaborate with and influence key stakeholders.
> Strong oral and written communication skills including ability to convey complex risks and issues for a board range of audiences clearly and concisely while actively building consensus
> Enthusiastic, self-motivated, strong interest in learning, effective under pressure and willing to take personal responsibility/accountability
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).
Expected base pay rates for the role will be between 75000 and 130000 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.
Posting Date
Aug 22, 2023
Primary Location
Americas-United States of America-New York-New York
Education Level
Bachelor’s Degree
Job
Audit
Employment Type
Full Time
Job Level
Director
