ble for identifying, collecting, and ensuring all documentation and information associated with higher risk client types has been received in good order. The CDD Operations Team is considered the first line of defense and supports the onboarding, client due diligence, and negative news processes for Morgan Stanley clients.
The CDD Operations AVP is a part of Wealth Management Operations and is responsible for overseeing processes related to the Client Due Diligence program. The AVP will support the execution and management of the Firm's CDD protocols for both new and existing customers. This includes managing programs and processes to support the examination of potential AML risk exposure for the Firm. In addition, the CDD Operations AVP will have responsibility overseeing processes related to these programs and processes
The CDD Operations Team AVP will manage the end-to-end CDD workflow of the operational functions of the CDD program focused on the collection of required information and or documentation for new and existing clients to effectively support the firm's KYC program including but not limited to:
- Manage the implementation of internal policies, provide periodic reporting to senior stakeholders, and make recommendations to improve procedures governing AML-related activities.
- Active pipeline management and engagement with Financial Advisors, Complex Management and Risk Officers to onboard new and existing International Banking & Lending client relationships.
- Lead key projects and initiatives related to increasing efficiencies and reducing operational risks in support of the firm's CDD program.
- Ability to delegate while providing appropriate guidance to the team to provide superior support across the organization.
- Partner with the Second Line of Defense Global Financial Crimes Compliance teams to monitor client relationships on an ongoing basis and ensuring compliance with regulatory expectations.
- Manage processes set up to complete Client Due Diligence for Wealth Management and US Banks clients including reviewing customer data and documentation to satisfy BSA/AML Compliance requirements.
- Provide oversight and supervisory support for CDD Operations Staff and serve as a point of contact for questions, issues, and escalations.
- Manage Internal and external examinations to test Operational support of the CDD Program
- Strong knowledge of control frameworks and the ability to design and evaluate effectiveness of controls embedded within business processes.
- Provide operational services in support of the growth of the WM and US Banks businesses.
- Partner with the Business Units, including Private Bankers, Lending Advisors, and Branch Risk Officers, to ensure appropriate client on-boarding due diligence processes are enacted while providing a positive client experience.
- Demonstrate a strong understanding of the compliance and regulatory frameworks that apply to financial institutions.
- Drafting and updating procedures and desktop guidance related to the client onboarding process.
- Managing data and trend analysis related to the source of wealth review process and providing reporting to relevant stakeholders.
- Providing supervisory support and training for CDD Operations Analysts through developing individual and team skills and providing timely constructive feedback.
- Serving as a point of contact for questions, issues and escalations related to the review of certain clients' source of wealth.
- Reviewing and responding to monthly quality control findings related to the source of wealth review process.
- Drafting and updating procedures and desktop guidance related to the client onboarding processes.
- Ensure the appropriate collection of required information and or documentation for new and existing clients to effectively support the firm's KYC program.
- Have 8+ years of relevant experience with BSA/AML Regulations within the financial services industry, or at a financial services regulator (e.g., FINRA, Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve Bank, etc.)
- Strong leadership qualities with the ability to manage teams and evidence a strong work ethic as well as a high degree of integrity.
- Have an undergraduate degree in Business, Finance, or related field.
- 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.
- Experience focused on examining potential clients' source of wealth during the client onboarding process.
- take initiative, analyze, summarize, and communicate effectively
- investigate, identify issues, impacts and trends to propose comprehensive solutions.
- multitask effectively and action matters promptly.
- work independently and in a team environment.
- handle highly confidential information with appropriate discretion.
- work in a high volume, fast paced environment; and
- work in a matrixed organization; leveraging resources across the organization to complete deliverables.
Additional Skills Desired:
- Expertise in managing programs focused on ensuring quality within AML programs.
- Experience with data and trend analysis related to the management of an AML program.
- Certified as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license is an advantage.
- Strong understanding of requisite Microsoft Office applications and ability to learn new internal systems quickly.
- Legal background / experience an advantage.
- Native or professional fluency in Spanish, Portuguese, Russian or Chinese is an advantage.
- Strong verbal and written communication skills.
- Good time management and attention to detail are critical to this position.
- Good analytical, research, organizational, and project management skills.
- Strong individual contributor with the ability to collaborate across teams.
- Expertise in examining potential clients' source of wealth during the client onboarding process.
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