Internal Audit Associate – Wealth Management

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 ethic. 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.

Department Profile

Internal Audit is responsible for validating whether the Firm operates in a controlled environment with appropriate risk management processes. Auditors evaluate the adequacy and effectiveness of the Firm’s internal controls using a risk based methodology developed from professional auditing standards. Internal Audit assists in monitoring the Firm’s compliance with internal guidelines set for risk management and risk monitoring, as well as external rules and regulations governing the industry. The team reports directly to the Board Audit Committee and helps verify whether the Firm meets all of its fiduciary responsibilities to shareholders, while adhering to corporate-governance standards and legal and regulatory requirements.

Internal Audit comprises Business, Risk and Technology auditors. Business and Risk auditors focus on understanding the risks that the businesses face and the controls to mitigate those risks. Technology auditors focus on the application controls supporting business processes, including systems development, application security and entitlements, production management, and technology governance. Both groups are responsible for understanding, analyzing and testing the controls to protect the franchise.

Primary Responsibilities

Morgan Stanley is seeking an auditor for its Wealth Management audit team covering WM Operations area performed in New York. The person in the role will assist the Internal Audit department’s Wealth Management audit team in completing its annual assurance activities, communicating to senior management and providing recommendations for improvements. Audited functions include all operations processes performed to support the WM Operations area.

Responsibilities Include

• Evaluation of inherent risk categories and performing risk assessments at an entity and at a process level
• Assist in the preparation of audit planning memoranda
• Identify and evaluate key risks and contributing to establishing audit scope
• Participate in walkthrough meetings and discussions with the purpose of developing audit test programs and identifying control issues
• Execute audit assurance activities in line with audit test programs and within timelines and budgets
• Appropriately assess potential findings for significance
• Assist in drafting audit reports including writing clear and concise findings and recommendations
• Communicate audit findings to the Internal Audit lead auditor and client management and assist with finalizing of issues with senior client management
• Tracking implementation of recommended processes designed to strengthen internal controls
• Developing solid working relationship with clients.

Skills Required

• Experience in internal or external audit or risk management, ideally in banking / wealth management / financial services
• Experience identifying risks and controls and recommending improvements
• Experience of auditing operations activities advantageous
• University degree (or equivalent)
• Part/Qualified Accountant holding a professional accounting or auditing qualification (ACA, ACCA etc.) preferable but not essential
• Knowledge of basic wealth management products including branch front to back processes, including operations functions beneficial
• Strong analytical skills. Able to process information quickly
• Motivated and a self-starter
• Good interpersonal and communication skills with ability to confidently manage senior stakeholders

Expected base pay rates for the role will be between 70000and 105000 at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Posting Date

Dec 28, 2022

Primary Location

Americas-United States of America-New York-New York

Education Level

Bachelor’s Degree

Job

Audit

Employment Type

Full Time

Job Level

Associate