Locations: Baltimore, MD or New York, NY (Hybrid; 3 days in office required)Recruiting Contact Name: Durbin HunterRecruiting Contact Email: ****** Background on the PositionThe role will reside within Morgan Stanley's Operational Risk Department focusing on Fraud Coverage.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 Fraud Risk function works with all Business Units and other functional areas across the Firm, including the dedicated Fraud Operations function in the first line of defense, to support proactive identification, prevention and detection of Fraud risks. The role is dynamic and multi-faceted with high levels of exposure to senior management, and significant intra and cross-divisional activity. The team is currently based in Baltimore, London, and Mumbai, which the candidate will be responsible for managing to day-to-day to support cohesive, efficient, and consistent execution.Primary Responsibilities- Own and drive evolution of anti-fraud governance, strategy and framework- Maintain, enhance and implement required policies, procedures, methodology and standards- Manage the Fraud Risk Assessment Program and drive review of broader risk and control assessments which may also capture fraud-relevant processes, risks and controls- Oversee, challenge, report and support ongoing transparency of risk mitigation activities across internal and external Frauds the Firm may be exposed to- Manage ongoing monitoring activities including threat intelligence, fraud risk profiles, and incident reporting, lessons learned etc.Execute ad-hoc assessments and deep dives in partnership with first line Fraud Operations for evolving and emerging risks- Manage the team's book of work including planning, execution and reporting- Regular senior level communication with Senior Management, Committees and Boards, and Rgulators to discuss the framework, risk profile, incidents, remediation or other relevant matters- On-going communication with senior colleagues in various BUs, Fraud Operations, Fraud Technology and supporting functions- An undergraduate degree (B.A., B.S., or equivalent) required, masters degree / specialized training in operational risk management and/or fraud risk management desired- 10-15 years of financial services experience- Prior experience leading, managing or working in a fraud mitigation capacity, including fraud identification, assessment and mitigation- Knowledge of leading practices to combat Wealth Management, Banking and Digital payment fraud, including first party (client or money mule) and third party (account takeover, identity theft and synthetic ID) external fraud- Experience with leading controls around authentication, identity verification, transaction monitoring and anomaly detection- Knowledge of the latest fraud threats and schemes impacting financial services firms and our clients- Industry network and experience with vendors in the fraud risk management space a plus- Knowledge of risk mitigation related to institutional businesses, including both payment fraud and unauthorized trading- Familiarity with cyber and information security frameworks, payment processing systems, protocols and authentication desirable- Familiarity with relevant Banking, Financial Holding Company and securities regulations- Well-developed listening skills and a strong ability to communicate and engage at the senior management level both orally and in writing- Strong risk, process and control decomposition, assessment or validation skills advantageous - a prior role within consulting or internal audit covering risk processes is desirable- Ability to collaborate across multiple functional areas while maintaining suitable independence and effective challenge- Ability to multitask and manage team members on projects within a small-group environmentMorgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).Expected base pay rates for the role will be between $175,000 and $250,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
