Internal Audit Operational Risk Senior Manager
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.
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.
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, Risk, Compliance, Finance and Technology audit groups. Business, Risk, Compliance and Finance 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. All groups are responsible for understanding, analyzing and testing the controls to protect the franchise.
Background on the Audit Group
Risk Audit group comprises multiple teams covering each of the risk categories (Market, Credit, Operational and Models). A key aspect of the Risk Audit group coverage is to plan, co-ordinate and execute year-round audit work, working effectively with other Internal Audit staff in Business Unit, Finance and Technology audit groups.
Background on the Position
Morgan Stanley is seeking an experienced audit professional to support all aspects of audit execution, focused on Operational Risk from a Risk Management Audit perspective. Areas of focus include all aspects of the core Operational Risk Management Framework (e.g. Scenario Analysis, Operational Risk Events, Risk and Control Self Assessments and Top Operational risks). This role has a reporting line to the Audit Coverage Manager for Operational Risk Audit (EMEA) in the Risk audit group.
The individual in this role will be responsible for:
- Contributing to the activity of Continuous Monitoring by analyzing Operational Risk Incidents, attending meetings with the relevant stakeholders, reporting any concern on controls gaps or heightened risk in a concise and effective manner.
- Contributing to Operational Risk related audit reviews from planning through reporting, within established budgets and delivery dates, preparing workpapers that meet internal standards.
- For the Audits joined as Auditor In charge ensure the Audit progresses in compliance to the defined milestones and Internal Methodology.
- Completing the closure Verification of audit issues and regulatory findings in accordance with the internal methodology and by producing workpapers that meet internal standards.
- Build credible relationships and interact with Senior Management within the Firm and across divisions where relevant.
- A University degree in a business discipline (e.g. finance/ economics/ accounting).
- Five or more years of experience in financial services with good experience and a strong understanding of financial Products and overall risk management processes and controls.
- Experience auditing Operational Risk and an ability to challenge design and operating effectiveness of internal controls.
- Strong control mindset is a must.
- A reasonable understanding of the regulatory environment.
- A good understanding of internal audit processes including identifying and evaluating key risks, setting the audit scope, developing audit testing and managing staff assignments.
- A team player who supports the broader audit function by leveraging their knowledge to the best use of the Firm.
- Strong analytical, interpersonal, communication and writing skills.
- CQF, CPA, CFA, CIA and /or FRM qualifications are desirable.
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