EMEA Risk Management Audit – Credit Risk Audit, Vice President

Job Description

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 employees serve clients worldwide including corporations/ governments/ individuals from more than 1200 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 and achieve and grow. A philosophy that balances personal lifestyles/ perspectives and needs is an important part of our culture.

Internal Audit

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 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 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/ technology governance. Both groups are responsible for understanding analyzing and testing the controls to protect the franchise.

Position Description

Morgan Stanley is seeking a Credit Audit VP to manage audits and audit team members within the Global Credit Risk Internal Audit coverage team as EMEA Credit Audit Coverage Manager. This audit professional will report to the EMEA Head of Risk Management Audit as well as the Global Head of Credit Risk/ Market Risk and Capital Management Audit. As part of this role the audit professional will be expected to develop and maintain effective relationships with key Credit Risk Department stakeholders located in EMEA as well as globally and directly manage team members with functional responsibilities. In addition responsibilities include managing and overseeing regional and where necessary global audit projects and team members during the execution of the annual plan. This individual will also attend selected Credit Risk governance committees and working groups and assist with the development of the annual audit plan/ recurring quarterly reports and applicable ad hoc Board and legal entity reports related to the Credit Risk Internal Audit.

Primary Responsibilities

The successful individual will oversee Credit Risk audit projects and team members which involves:

• Building and maintaining business relationships to assist in the development/ planning and/or performing of audits across the region focusing on all aspects of the core Credit Risk Management framework (including IRB and IMM model permissions though from a process perspective).
• Managing and overseeing the execution of audit coverage for Credit Risk Management including adequately scoping regional or global audits and reviews as well as related issue closure validation.
• Managing performance for members of the Credit Risk Audit team including their performance evaluations.
• Assisting with the development of the Risk Assessment for Credit Risk regionally and globally where appropriate and ensuring it remains current through performance of continuous monitoring.
• Ensuring execution of the audit plan within Departmental methodology/policies/ standards.
• Communicating the status of the audit plan and results of test work.
• Attending relevant regional committees/ working groups and other governance forums.

Qualifications

Skills required (essential)

At a minimum, the successful candidate would be expected to demonstrate the below skills & experience:

• A strong understanding of core credit risk management concepts and methodologies preferably having worked in risk management internal audit in a major bank/financial institution with trading activities or a second line Credit Risk group.
• Management skills both in terms of running audits (both across and within regions) and individual performance management.
• Ability to build and maintain credible relationships with senior management and stakeholders ideally in a Risk function and strong networking capabilities.
• Strong verbal and written communication skills with the proven ability to write clear and concise findings/ recommendations and reports.
• Strong analytical skills with proven ability to lead audits/reviews on technical concepts.
• Ability to effectively multi-task and manage multiple competing deliverables within tight timeframes without compromising on quality of output.
• Understanding of resource management including overseeing the team forecasts and ensuring audits within their portfolio are appropriately staffed at all times.
• University degree.

Skills desired

• CPA/ CIA/ CFA and /or FRM qualifications a plus
• Expertise in risk management related to capital management/ ICAAP/ stress testing.
• Experience in dealing with regulatory requirements or regulators would be viewed favorably (particularly UK and European regulators) and understanding their expectations in terms of documentation/ closure verification work and coverage of relevant regulatory requirements.
• Understanding of relevant regulatory requirements as they pertain to core credit risk concepts particularly as relate to IRB and IMM model permissions as well as an understanding of financial products (particularly traded products).

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