VP, Third Party Risk Officer

Morgan Stanley•Baltimore, MD

About The Position

The role will focus on Third Party Risk and resides within the Legal and Compliance's Operational Risk Department (ORD), a Second Line of Defense (2LoD) function. Operational Risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks, or damage to physical assets). The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing). The successful candidate will be responsible for helping execute independent oversight, analysis, and monitoring of risks and controls and key risk metrics related to non-financial operational risks. The individual will play a critical strategic role in driving risk management oversight activities, which may include development of risk metrics and reporting, control execution, review of incidents and issues and general support of ongoing risk assessments.

Requirements

6-8 years' experience in the financial services industry within risk management; exposure to sourcing / procurement, vendor risk management is preferable.
Strong interpersonal skills and experience in working as part of a team to achieve strategic outcomes, especially under the period of transition and transformation of roles and responsibilities.
Relevant experience and knowledge in managing Third Party risk.
Strong analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment.
Ability to develop, foster and maintain effective working relationships with a variety of senior and junior colleagues and counterparties (local, regional, and global, and within and outside of ORD).
Capacity to prioritize in a fast moving, constantly changing environment to handle multiple tasks simultaneously and work under fast-paced working environment.
Excellent written and verbal communication skills.
Highly motivated self-starter able to work independently while collaborating and coordinating as part of a global program.

Nice To Haves

Knowledge and experience in assessing Third Party resilience would be beneficial.

Responsibilities

Implement, maintain, and enforce the Operational Risk Management Framework including policies and procedures, training, testing and monitoring, as required by or as appropriate in light of specific laws, regulations and policies governing their operations.
Leverage the Firm's Operational Risk Management Framework to identify and assess significant Third Party risks and ensure appropriate mitigation actions are undertaken. Monitor risk with a focus on third party.
Liaise with business leads, risk managers, and global colleagues to ensure the risks are managed within the Firm's risk tolerance.
As a key member of functional working groups and global committees, providing 2nd line oversight specific to Third Party, bring transparency to significant risks and enforce standards on inherent and residual risk ratings.
Partner with the 1st line, Third Party Risk Management and Functional Areas in proactive management of risks and delivery of change management / transformation initiatives.
Provide regular reporting and metrics to senior leadership and risk committees.
Support the Head of Third Party in developing and driving NFR strategic initiatives, and lead or assist production of Management Information as appropriate.

Benefits

Medical
Prescription Drug
Dental
Vision
Health Savings Account
Dependent Day Care Savings Account
Life Insurance
Disability and Other Insurance Plans
Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually)
10 Paid Holidays
401(k)
Short/Long Term Disability