Job Description
Job Number:3258693
Posting Date:Sep 6, 2024
Primary Location:Non-Japan Asia-Australia-Victoria-Melbourne
Job:Wealth Management
Employment Type: Full Time
Job Level: Senior Manager
About The Company Morgan Stanley is a global financial services firm and a market leader in investment banking, securities, investment management and wealth management services.
With offices in more than 42 countries, the people of Morgan Stanley provide our clients the finest thinking, product, and services to help them achieve even the most challenging goals.
Morgan Stanley Wealth Management provides holistic wealth services to clients investing in global and domestic equities, fixed income, derivatives, and broader wealth management services including financial planning, margin lending and managed fund investments.
Morgan Stanley Wealth Management Australia is a national business with offices located in Sydney, Melbourne, Adelaide, Perth, and Brisbane.
About The Team The Account Management Team (AMT) within the Morgan Stanley Australia Wealth Management business is currently responsible for the life cycle of client accounts encompassing Client Onboarding, Maintenance, Remediation and Regulation activities.
A new function, AML Risk Management will be established and this role is within this function, reporting to the Head of AML Risk Management in Hong Kong.
The role will be part of a team that implements AML risk controls for processes performed by AMT across the APAC region in Hong Kong, Singapore, and Australia.
This includes the review and risk sign-off of high-risk accounts (e.g., EDD) throughout the account life cycle.
Key Accountabilities Support the Head of AML Risk Management team to implement the team's mandate in Australia.Act as the risk approver (including, high risk accounts, EDD) throughout the account life cycle i.e., onboarding, periodic review, trigger events and account block.Identify and escalate accounts, transactions or client relationships with financial and tax crime risks and information to the Head of AML Risk Management and Head of AMT with proposed mitigating measures.Provide advice to the Head of AML Risk Management and Head of AMT on financial crime risk management matters.Potential to manage a small team.Coordinate with Global Financial Crimes (GFC) to ensure financial crime risk management controls are effectively designed and implemented in AMT processes and draft relevant procedures and checklists when necessary.Provide regular management information to Head of AML Risk Management, Head of AMT and GFC for their ongoing monitoring.Be cognizant to regulatory changes and provide guidance and training to AMT as needed to enhance risk controls for processes performed.Coordinate responses for monitoring activities carried out by regulators, GFC, external/internal audit and testing teams.Support MSWM Australia with implementing audit and compliance testing team action plans as required.Qualifications Native written and verbal proficiency in both English and Mandarin.Strong knowledge of the relevant financial crime legislation in Australia.
CAMS certification an advantage.Knowledge of account structures of various complexity, private wealth management regulatory requirements and best practices.Proven ability to anticipate and identify risks and implement effective mitigation measures.Demonstrated ability to collaborate across multiple functional areas while maintaining independence.Excellent verbal and written communication skills including the ability to deal with potentially contentious AML risk issues effectively and instruct/advise impacted teams.Ability to adapt and work efficiently in a fast-paced environment.High attention to detail and an analytical mindset.Self-motivated and enthusiastic.Education and/ or Experience Bachelor's degree required or equivalent education or experience.10+ years experience with at least 5 years in a role within the financial crime compliance function of a regulated financial services business in Hong Kong, Singapore or Australia and 2 years in a team lead/management role in the financial services industry.Compliance/AML onboarding knowledge or experience at another top-tier Private Bank ("PB") is an advantage. #J-18808-Ljbffr
