Morgan Stanley Hiring for Vice President – Regulatory Reporting Quality Assurance at Mumbai, India Full Time

We are looking to hire a Vice President in the Finance Risk and Assurance (FinRiA), specifically into the Regulatory Reporting Quality Assurance team (RRQA). The FinRiA group is represented in our New York, Glasgow, London, Tokyo and Hong Kong offices performing an oversight, governance and execution role in relation to the Finance SOT division in support of the Firms operational risk programs and objectives. The group interacts across all areas of Finance, Firm Operational Risk Department, the Front Office, Internal Audit as well as Operations, providing accurate risk reporting across Finance whilst furthering the risk management culture and infrastructure.

The RRQA team works collaboratively across New York, Glasgow and Mumbai on a validation programme to support the continuously expanding regulatory reporting environment impacting the Morgan Stanley Finance Division.The Regulatory Reporting Quality Assurance Group (RRQA) is an independent second-line-of-defense group, responsible for validating processes upstream/downstream of Firm Risk Management (FRM) for Capital, Credit, Market, Operational and Liquidity Risk. RRQA is also responsible for validating processes supporting regulatory reporting submissions to various US and regional regulators as determined through its annual scoping and prioritization activities. RRQAs objectives include, but are not limited to, validating the regulatory reporting control environment which includes in-scope controls, data due diligence, governance and oversight, models/capital planning tools (tools), methodology and processes from transaction capture through sourcing and consolidation (i.e., completeness, accuracy and timeliness).

The RRQA Vice President will drive the Regulatory reporting validations and quality assurance endeavours on a global basis, collaborating with global team & stakeholders. The review includes, but are not limited to, validating the regulatory reporting control environment which includes in-scope controls, data due diligence, governance and oversight from senior management & Board, models/capital planning tools consumed in the regulatory reporting, regulatory rules & methodology conformance, and processes testing from transaction capture through sourcing and to regulatory submission. Products subject to review may include derivatives, secured financing transactions, loans, securitizations, debt and equity.

Key responsibilities:
Take ownership of the validations, planning the approach for the validation, deciding the areas of testing based on risk-based evaluations and provide adequate oversight, direction and guidance to the team. Also, monitoring, tracking, and reporting the progress of the validations to Senior Management.
Be a subject-matter expert in regulatory reporting framework and ensure that the team has reasonably understanding of the regulatory expectations before starting the review and keep abreast of the changes in the regulatory instructions/ expectations for all relevant regions.
Leading and driving the walkthroughs with global stakeholders, understanding the process, conducting independent risk-assessments, identifying the risk-mitigating controls and their design adequacy and operating efficacy assessment around the regulatory reporting control environment.
Highlight your seniors, any areas requiring judgements, analyse the complexities of the mentioned area and provide potential solutions based on the analysis and professional judgement.
Understanding and documenting the life-cycle of the regulatory reporting & submission process, driving the substantive testing, including the data due diligence through the data flow and processing through multitude of trade booking systems, aggregation systems and their hand-offs from the trade capture to the regulatory systems.
Driving the substantive testing around the attributes/parameters consumed in arriving at the exposure and risk-weighted assets, for credit risk, market risk, liquidity risk and operational risk reported in the respective regulatory reports.
Analysing identified issues in the upstream and downstream processes or systems for their impact on capital and regulatory risk reporting, as well as escalating the issues and finding an appropriate remediation, after consulting with the stakeholders.
Ensure the comprehensiveness and consistency of the validation documentation and identifying areas to bring efficiencies by identifying opportunities to use automation/ analytics and enhancement of the process and incorporating previous experience and reviews.
Working with review leads in drafting recommendations and liaising with the business units and stakeholders for communicating the identified issues in the validations; arriving at appropriate course of actions, in consultation with stakeholders for remediating the risks, findings and gaps identified during the validation process.
Identification of strengths and development areas of the team; harnessing their strengths and expertise, providing feedbacks and guidance for developments areas
Cultivating relationships across the Finance organization with key constituency groups, such as Regulatory Reporting, Product Controllers, Operations, Treasury, Technology, Credit Risk, and Market Risk.
Managing, grooming, and developing the team in delivering top-class validations and utmost diligence in the conduct of the validations.

Skills Required:
Qualified Chartered Accountant or MBA or Company Secretary or graduation/masters in law.
Ability to organize and present data in a meaningful way, including analysing and summarizing detailed information from various sources.
Strong written, communication, and presentation skills, including the ability to liaise with and influence senior subject matter experts
Strong quantitative and qualitative analytical skills
Self-starter with ability to multi-task, adapt, and work well under pressure
Ability to work within a team and to collaborate with peers and leadership to create effective solutions to validation issues
Ability to create, drive and manage detailed project plans, including managing interdependencies and expectations.
Advanced Excel, Word, and PowerPoint skills
Sense of ownership and accountability for work
Possesses strong project management and interpersonal skills, makes sound decisions, exhibiting initiative and intuitive thinking

Skills Desired:
10 to 12 years experience, preferable in assurance and banking regulatory reporting space.
Understanding of Financial Services or the Banking Industry.
Understanding of Credit Risk, Market Risk, Liquidity Risk and Operational Risk
Understanding of global and regional regulatory regimes and reporting such as Basel frameworks, capital adequacy assessment processes, recovery and resolution planning and others.

Job: *Finance

Title: Vice President – Regulatory Reporting Quality Assurance

Location: Non-Japan Asia-India-Maharashtra-Mumbai (MSA)

Requisition ID: 3197546