Anti-money Laundering Risk Associate – Enhanced Due Diligence (“AML Risk Associate, International – EDD”)

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management and Asset Management. Morgan Stanley’s network includes approximately 15,000 Financial Advisors with total client assets of over $1.5 trillion. Morgan Stanley provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement and trust 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. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, to achieve and grow.

Department Profile

The Anti-Money Laundering Risk (AML Risk) team is embedded within the Firm’s business line. It is responsible for identifying, assessing and escalating potential money laundering and reputational risks associated with higher risk client types. The AML Risk team is considered to be in the First Line of defense and supports the onboarding, client due diligence, enhanced due diligence and negative news processes for Morgan Stanley.

Responsibilities

The AML Risk EDD Associate will be responsible for executing risk-relevant activities related to AML, specifically to support the international business, primarily in Russian, Asian or Latin American Regions. The AML Risk EDD Associate will assess Bank Secrecy Act (BSA), money laundering and reputational risk matters identified through the execution of the Firm’s EDD protocols for both new and existing customers. In addition, the AML Risk EDD Associate will have ultimate responsibility for the escalation of issues or risks related to these processes.

The AML Risk EDD Team Associate Will

• Review documents and information to perform enhanced due diligence reviews on higher risk customers
• Assist in executing key projects and initiatives related to assessing and mitigating the Firm’s exposure to money laundering and reputational risk-relevant activities
• Perform risk-relevant matters associated with prospective clients identified by the First Line Unit during Client Due Diligence (CDD) and EDD processes to ensure continued knowledge of the existing client base and any material changes to client information
• Actively identify, measure, control and remediate AML and reputational risk issues with partners in Global Financial Crimes, Compliance and the Business Units
• Perform processes in accordance with internal policies, develop and monitor periodic AML reporting to senior stakeholders, and make recommendations to improve procedures governing AML-related activities
• Partner with the US Banks, E*TRADE and WM Business Units to ensure appropriate adherence to client due diligence processes while providing a positive client experience
• Partner with the Second Line of Defense Compliance teams to monitor client relationships on an ongoing basis
• Active pipeline management and engagement with Financial Advisors, Complex Management and Risk Officers to manage client relationships
• Collaborate with Global Financial Crimes to ensure the BSA/AML program operates effectively and continues to comply with regulatory requirements and expectations
• Partner with the Business Units, including U.S. Banks, E*TRADE, International Wealth Management, Field Strategic Services, and WM Risk, to ensure appropriate adherence to BSA/AML requirements and Business Unit Risk Tolerance

Required Experience

• Have 1-4 years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Office of the Comptroller of the Currency, Federal Reserve Bank, Securities and Exchange Commission, etc.)
• Native or professional fluency in Spanish, Portuguese, Russian or Chinese is required
• Have an undergraduate degree in Business, Finance, or other related field or a minimum 5 years of relevant work experience
• Working knowledge of MS Office
• Strong knowledge of Know Your Customer, Customer Identification Program and CDD requirements
• Strong interpersonal skills and ability to communicate effectively both verbally and in writing
• Strong work ethic with an ability to work both independently and with team members, under tight deadlines
• Ability to work in a high volume, fast paced environment
• Ability to work in a matrixed organization; leveraging resources across the organization to complete deliverables
• Ability to handle highly confidential information professionally and with appropriate discretion

Skills Desired

• Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is a plus

Morgan 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).

Posting Date

Feb 17, 2023

Primary Location

Americas-United States of America-Maryland-Baltimore

Education Level

Bachelor's Degree

Job

Wealth Management

Employment Type

Full Time

Job Level

Associate