The Financial Crimes Risk and Client Onboarding Associate

Job Number:
3258443

POSTING DATE: Aug 30, 2024

PRIMARY LOCATION: Europe, Middle East, Africa-United Kingdom-United Kingdom-Glasgow

JOB: Investment Banking

EMPLOYMENT TYPE: Full Time

JOB LEVEL: Associate

DESCRIPTION

Company Profile
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, and individuals from more than 1,200 offices in 43 countries.
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 ethics. Morgan Stanley can provide a superior foundation for building a professional career – a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
The Financial Crimes Risk and Client Onboarding (“FCRCO”) Team sits within the Firm’s business line. It is responsible for identifying, assessing, and escalating potential money laundering and reputational risk issues associated with higher risk client types. The FCRCO Team is considered the first line of defense and supports the onboarding and enhanced due diligence processes for Morgan Stanley.

• Execute the end-to-end Enhanced Due Diligence (“EDD”) workflow of the EDD program for New Client New Business (“NCNB”), focused on assessing AML risks related to new clients to effectively mitigate potential AML risk exposure in accordance with internal policies and procedures

• Review EDD Profile and documentation (including all screening results) to evaluate the relevant risk factors driving the higher customer risk rating and document analysis, including rationale to approve or decline customer and draft summary statement

• Review risk-relevant matters associated with prospective clients identified during Client Due Diligence (“CDD”) and EDD processes

• Assist in preparing periodic reporting for senior stakeholders

• Assist on other special projects, as needed

QUALIFICATIONS

Minimum 3-5 years relevant training experience in BSA/AML and OFAC requirements in financial or banking industry
Undergraduate degree in related field or an equivalent combination of training and experience

Sufficient knowledge of AML regulatory requirements and expectations (Domestic – UK and International - non-UK)
Strong research and analytical skills with attention to detail
Strong analytical skills to identify and assess relevant AML risks including all screening results
Strong writing skills to articulate customer’s EDD profile and analysis of AML risks imposed
Basic knowledge of business, products, operations, systems and organization
Basic knowledge of Microsoft Office tools (Word, Power Point, Excel, and Access)
Ability to handle highly confidential information with appropriate discretion

• Associates assisting with complex cases: Ability to leverage investigative or due diligence skills to work on complex files

• Certification as an Anti-Money Laundering Specialist by ACAMS or equivalent AML certification/license – or certification within first 15 months of employment

Take initiative, analyze, summarize, communicate effectively, and escalate issues to senior leadership appropriately
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
Work in a matrixed organization; leveraging resources across the organization to complete deliverables

Associates working on international files: Strong foreign language/translation skills in: Spanish, Portuguese, French, Mandarin, Cantonese, Arabic, Russian, Hindi, Urdu, Punjabi, Italian, or African languages