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E*TRADE from Morgan Stanley · 3 months ago

Anti-money Laundering Risk – Enhanced Due Diligence (AML Risk Assistant Vice President)

Purchase, New York, United States of America

Full-time

Onsite

Mid, Senior Level

$100K/yr - $135K/yr

5+ years exp

Morgan Stanley is a global financial services firm that provides comprehensive financial advice and services. The AML Risk Assistant Vice President will oversee due diligence and risk-relevant activities related to anti-money laundering, focusing on assessing clients' source of wealth and mitigating potential risks.

BankingFinanceFinancial Services

Responsibilities

The AML Risk AVP will be responsible for overseeing due diligence and risk-relevant activities related to AML

The AVP will assess Bank Secrecy Act (BSA), anti-money laundering, and reputational risk matters identified through the execution of the Firm’s protocols for both new and existing customers

This primarily includes reviewing, assessing and, where necessary, escalating certain clients’ source of wealth to examine potential ML risk exposure for the Firm

Source of wealth encompasses the business, employment, or other activities that have contributed to the total worth of an individual or entity

In addition, the AML Risk AVP will have ultimate responsibility for escalating risk issues related to these processes with a particular focus on reviewing certain new and existing clients’ source of wealth

Manage the end-to-end workflow of a program focused on assessing the source of wealth of new and existing clients to effectively mitigate potential ML risk exposure, including but not limited to:

Actively managing and leading processes supporting the Firm’s customer due diligence (CDD) and enhanced due diligence (EDD) program with a specific focus on source of wealth analysis and corroboration

Managing data and trend analysis related to the source of wealth review process and providing reporting to relevant stakeholders

Examining the source of wealth of certain new and existing Morgan Stanley clients

Serving as a point of contact for questions, issues and escalations related to the review of certain clients’ source of wealth

Reviewing and responding to monthly quality control findings related to the source of wealth review process

Providing supervisory support and training for AML Risk Analysts through developing individual and team skills and providing timely constructive feedback

Drafting and updating procedures and desktop guidance related to the client onboarding process

Leading key projects and initiatives related to assessing and mitigating the Firm’s exposure to money laundering and reputational risk-relevant activities

Partnering with business partners involved in the account opening process; and

Partnering with the Second Line of Defense Compliance teams to monitor client relationships on an ongoing basis

Qualification

BSA/AML RegulationsSource of Wealth AnalysisKnow Your CustomerCustomer Identification ProgramAML CertificationMS OfficeInterpersonal SkillsLeadership Qualities

Required

Have 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 a bachelor's degree in business, Finance, or other related field

Experience focused on examining potential clients' source of wealth during the client onboarding process

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

Working knowledge of MS Office

Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity

Ability to take initiative, analyze, summarize, and communicate effectively

Ability to investigate, identify issues, impacts and trends to propose comprehensive solutions

Ability to multitask effectively and action matters promptly

Ability to work independently and in a team environment

Ability to handle highly confidential information with appropriate discretion

Ability to work in a high volume, fast paced environment