AVP - Compliance Testing
POSTING DATE: Dec 16, 2022
PRIMARY LOCATION: Europe, Middle East, Africa-United Kingdom-United Kingdom-London
EDUCATION LEVEL: Bachelor's Degree
JOB: Compliance
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Director
The EMEA Legal and Compliance Department is charged with day-to-day oversight and coordination of the Firm’s compliance with core regulatory requirements covering all businesses including Institutional Sales and Trading (Fixed Income, Commodities, Equities), Investment Banking, Global Capital Markets, Research, and Investment Management across the EMEA region.
The team help deliver the Compliance Department’s Testing Plan, which provides independent assurance that the Firm is meeting its regulatory obligations and has controls in place to reasonably mitigate compliance risk. The purpose of Testing is to conduct independent, backward-looking, point-in-time assessments to provide assurance that compliance procedures, processes and controls are reasonably designed and working effectively.
The Testing programme covers the EMEA Sales & Trading businesses, Investment Banking, Global Capital Markets, Research, and Investment Management. The Testing Team also reviews projects and processes run by the Compliance Department.
About 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.
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. We 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.
What will you be doing?
As a member of the EMEA Compliance Testing Team, the candidate will have several areas of responsibility including, but not limited to, the following:
Contributing to the design and delivery of a portfolio of Compliance Tests across the business units covered by the EMEA Compliance Testing programme in line with the role and purpose of the Compliance Testing function. Focus is primarily on the key compliance risks, adopting a proportionate approach to scoping tests and completing testing efficiently to make the best use of available resources.
Planning / participating in walkthroughs / interviews with business employees responsible for the areas covered by Test reviews
Assessing and providing expertise in relation to scoping, sampling, documentation, and Quality Assurance of reviews.
Coordinating the investigation and escalation of potential issues and documentation of agreed actions plans.
Ensuring completion and detailed documentation of test work-papers, and drafting reports on tests completed
Managing closure verification of actions following review completion, including the assessment of evidence to support closure.
Preparing aspects of Compliance Testing Management Information on the outcomes and findings of completed testing.
Help enhance the Compliance testing programme as it evolves, liaising with the EMEA Compliance Coverage teams and relevant global teams, and contributing to global discussions on testing matters and sharing best practice.
Skills that will help you in the role:
The ideal candidate will have over 5 years Regulatory Compliance Testing/Monitoring/Assurance or Audit experience at a financial institution (preferably Investment Banking / Sales and trading experience)
Excellent communication skills – written and oral
Experience in interpreting regulatory risk, laws, or regulations
Excellent time management skills, attention to detail and ability to execute tasks within tight deadlines
Ability to facilitate meetings among stakeholders with diverse points of view
Good interpersonal skills and ability to work effectively with colleagues across regions and Business Units
Skills desired
Has the ability to effectively handle a fast-paced environment and successfully meet established deadline requirements
Ability to research and resolve issues independently while working across teams to acquire information
Be self-motivated and must have the ability to work independently
Knowledge of global markets / market regulations / investment banking functions
Industry qualifications - CISI / CIA or similar certification
Previous experience of Sales & Trading, Investment Banking, and/or Investment Management, whether though Compliance experience or working within the business or other controls functions.
Ability to identify the key compliance risks in the area subject to testing and to think creatively about how these risks might manifest in practice and how a test could seek to identify this
Good analytical and numerical skills, able to learn new concepts (for example reviewing trading data, looking for trends and exceptions)
Good interpersonal skills and the ability to build relationships with members of the Compliance Department and employees in the business units and control functions subject to testing, challenging information received, or decision made in a constructive way
Broad understanding of the FCA and PRA Handbooks and the approach of regulators in EMEA and globally, with particular focus on US regulators
Attention to detail and proactive. Confidence to use own initiative and apply judgment in an in-house context.
Flexible work statement:
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.
Internal Applicants:
Internal mobility can be a way to grow your career and realize your professional potential. Typically, you must be in your position for at least 18 months and performing satisfactorily before applying for another job at the Firm. Internal applicants can find out more regarding career navigation, mobility guidelines and policy on our employee portal by clicking here.
Equal opportunities statement:
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.
