Third Party Risk Manager Jobs in Silver Spring, MD

Non-Financial Risk Organization Overview:
The second- line Non-Financial Risk NFR organization includes the Compliance, Global Financial Crimes, and Operational Risk departments and provides a single, comprehensive, and consistent second-line view of these non-financial risks. Non-Financial Risk encompasses risks which are not financial in nature, and could have a potential economic, reputational, regulatory, financial reporting, or client impact from (i) failed or inadequate processes, data, or controls; ii) infrastructure or environmental factors; or iii) intentional or inadvertent actions of employees or external parties. The second-line NFR organization partners with the first-line business units to advise, train, manage, report, identify, analyze, and escalate non-financial risks.
Team Overview:
The role is part of the Operational Risk Department (ORD) which is comprised of teams based in New York, Baltimore, London and Budapest and is responsible for the implementation and management of the operational risk framework across all business and infrastructure functions globally. Within ORD, coverage of our business and infrastructure divisions is achieved via division specific coverage (for example ISG, Operations) and also risk-specific coverage (for example Third Party).
Role Overview:
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.
Primary 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.
Qualifications:
> 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.
> Knowledge and experience in assessing Third Party resilience would be beneficial.
> 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.
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
At Morgan Stanley, we raise, manage and allocate capital for our clients - helping them reach their goals. We do it in a way that's differentiated - and we've done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.
To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
Salary range for the position: $95,000 and $165,000 per year. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which also may include a discretionary bonus component. Morgan Stanley offers a full spectrum of benefits, including 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), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings.
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).