Internal Audit Manager - Institutional Securities Division

Description

Morgan Stanley

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 employees serve clients worldwide including corporations/ governments and individuals from more than 1200 offices in 43 countries.

The talent and passion of our people is critical to our continued success as a firm. Together we share four core values rooted in integrity/ excellence and strong team ethic:

• Putting Clients First
• Doing the Right Thing
• Leading with Exceptional Ideas
• Committing to Diversity and Inclusion
• Giving Back

Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn achieve and grow.

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 internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit assists in monitoring the firm compliance with internal guidelines set for risk management and risk monitoring as well as external rules and regulations governing the industry.

The department 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 and Technology auditors. Business 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.

Background on the Position

Internal Audit is hiring for its Institutional Equities Division (IED) coverage team in London. This role will form part of the global Institutional Securities Division (ISG) coverage team with colleagues in New York/ London/ Mumbai/ Hong Kong/Tokyo. Key aspects of the role will include partnering with the broader ISG coverage team to plan and execute global/ regional/ cross-divisional assurance activities as well as maintaining stakeholder relationships and point of contact with IED personnel in London.

The candidate would be required to perform the following tasks: identify key risks and controls/ design and conduct audit tests/ formulate audit issues/ assess severity of identified audit issues and identify areas for control improvements. The role will also require undertaking continuous monitoring of Equities Division related activities based in London such as reviewing KRIs and KPIs/ horizon scanning/ regulatory changes/ error tracking and trending/ continuous auditing etc.

Primary Responsibilities

Audit Assurance

• Participate in all phases of the audit including planning/ fieldwork/ reporting.
• Assist in audit assurance planning by identifying and evaluating key risks in scope for the given audit
• Plan and conduct walk-through meetings for processes in scope for an audit
• Identify significant controls during the walk-throughs and assesses adequacy of their design for key risk mitigation
• Assist in developing audit assurance activities for significant controls
• Execute audit assurance activities for significant controls and draw conclusions of controls effectiveness by analyzing available documentation and asking insightful questions to identify root causes for exceptions.
• Clearly document results and conclusions of audit assurance activities in line with the internal documentation standards.
• Assess severity of exception identified by audit assurance activities in line with the methodology
• Communicate audit exceptions to internal audit management providing severity assessment for audit finding
• Assist in negotiating finalization of audit findings with auditee management
• Drafting reportable audit findings for auditee’s management action plan and audit reports

Continuous Monitoring and Risk Assessment

• Participate in the periodic continuous monitoring of business activities. Analyze and document the risk assessments
• Maintain ongoing communication with business management to closure verify previously identified audit issues
• Participate in continuous monitoring and risk assessment of key business processes to drive risk-based assurance plan
• Assist with identification and evaluation of key risks within front to back processes
• Participate in strategic initiatives and projects to enhance audit approach and coverage
• Develop solid working relationship with stakeholder and clients and across the broader Internal Audit Department
• Track management’s remediation efforts including the design and implementation of recommended processes and controls to strengthen internal control frameworks

Qualifications

Soft Skills

• Strong verbal and written communication skills
• Ability to rapidly learn and apply Internal Audit methodology
• Ability to multi-task between several projects and complete audits/projects within required time frames and budgets
• Self-motivated team player with ability to work independently in a fast-paced environment
• Ability to resolve challenging issues with innovative ideas
• Keen attention to detail and strong analytical skills
• Outstanding work ethic and demonstrable ability to live the firm core values

Technical Skills

• Prior experience performing walkthroughs and risk assessments of the internal control environment/ performing controls and substantive testing/ documenting work performed and developing audit observations in accordance with internal quality assurance standards
• Good understanding of the financial services industry and related regulatory environment. Familiarity with banking and capital markets products particularly equities

Experience

• Masters/ Bachelors Degree. Required major in Accounting or Finance is preferred
• Accounting and /or auditing background with related experience either with a prior Internal Audit function or public accounting firm.
• ACCA/ CA/ CPA/ CFA or equivalent certification. Preferred
• Understanding of the internal audit processes e.g. risk assessments/ planning/ testing/ reporting and continuous monitoring preferred
• Exposure to front office / trading and sales functions and a deep understanding of the trading life cycle preferred

For further information, and to apply, please visit our website via the “Apply” button below.