Internal Audit Credit Review AVP
- Morgan Stanley
- London, UK
- Not disclosed
- 29 Mar 2023
- 30 Mar 2023
- Approved employers
- Approved employer
- Contract type
- Full time
- Experience level
Internal Audit Credit Review AVP
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.
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.
Background on the Position
Experienced credit risk professional with a good understanding of credit analysis for its Credit Review group. The person in the role will report to the Vice President Credit Review in London. The person selected will assist the Internal Audit department's Credit Review team in completing its annual audit plan, communicating to senior management and the Board Audit Committee those areas requiring control enhancements and providing recommendations for improvements. Credit Review function has a global responsibility to evaluate the quality of the firm's credit process and opine on the quality of the credit portfolio.
Credit Review covers all aspects of the firm's credit process, including but not limited to:
- Adequacy of and adherence to Credit policies and procedures
- Accuracy of internal credit rating
- Quality of underwriting and credit analysis
- On-going monitoring of credit exposures and portfolio management.
- Manage / coordinate all aspects of credit reviews including planning, fieldwork and reporting activities.
- Participate in credit reviews by documenting independent analyses for assigned credits.
- Monitor assigned credit portfolios to identify emerging risks / trends. Perform periodic risk assessments for assigned portfolios.
- Perform closure verification for internal issues as well as regulatory matters, as assigned.
- Liaise with regulators from the Federal Reserve and OCC, or PRA, as needed.
Skills required (essential)
- The Director will have a sound knowledge of credit analysis of all types of borrowers - large corporations, financial institutions, commercial real estate, securitizations, sovereigns, high net worth Individuals etc.
- Have sound credit skills, preferably having worked as a credit analyst in a major bank /financial institution or rating agency. Bank credit training is a plus.
- Have strong team-working skills to support the broader audit function by leveraging their knowledge to the best use of the Firm.
- Help the Vice President to build credible relationships with senior management in the Credit Risk Management function
- Have an understanding of the OCC, FED and EMEA regulatory guidelines on various credit related matters including but not limited to rating credit risk, counterparty credit risk, commercial real estate, leveraged lending, asset-based lending, allowance for loan loss reserves, Shared National Credit (SNC) process.
- Able to supervise and mentor junior staff, and review work papers to ensure they meet internal standards
- Able to complete audits within time budgets
- Able to properly assess potential findings for significance
- Have good writing skills, especially drafting audit reports with clear and concise findings and recommendations.
- Follow up actions quarterly with clients through to completion
- Bachelor's degree, MBA preferred.
- post-degree experience, primarily in large banks, or other financial institutions
For further information, and to apply, please visit our website via the “Apply” button below.