International Head of New Product Approval Department, Finance - Executive Director
- London, England, United Kingdom London England GB
- Permanent, Full time
- Morgan Stanley
- 21 Aug 18 2018-08-21
See job description for details
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.
The NPA department is part of the Finance Division.
The global NPA framework ensures that new or modified modifications to products are within risk appetite, aligned with strategy and present an effective use of resources.
New product approval governance manages the point of entry of new product risk into the firm
The NPA Department governs the process around the risk identification, review and approval of new product initiatives across all firm business lines globally to ensure that firm infrastructure and control groups confirm support and validate that risk is adequately managed. The Department reports on new product activity to business risk management organizations, firm infrastructure groups and firm senior management on a regular basis. In addition, the Department is responsible for reporting to enterprise level governance committees and interfaces with regulators as required.
The global NPA Department is located in primarily in New York, with coverage officers in London and Hong Kong. It is organised on a regional business coverage model. This role is at the Executive Director Level (ED), based in London, with responsibility for the EMEA and Asia regions, reporting functionally to the Global Head of the NPA Department, and regionally to the Head of EMEA ISG Finance.
The team performs the following functions:
• New product governance and advisory
• Representation to internal committees and regulatory interaction
• Data production, reporting
• Quality assurance
• NPA tool maintenance, system administration, training
• Formulate and oversee the implementation and maintenance of governance and risk / control strategies
• Implement and manage the new product framework for the EMEA and Asia businesses: deliver the framework consistently across businesses, ensuring that it is reflective of the Firm’s risk appetite, inclusive of regional regulatory requirements and of considerations relevant to all lines of defence
• Manage individual new product and business proposals, from initiation to approval
• Provide product governance reporting
• Act as senior advisory, oversight and escalation for new product related topics, as required
• Deliver high-quality and concise formal reporting to risk management, executive and board committees.
• Co-chair of the Product Governance Committee
• Management of audit and regulatory responses
• Contribute to continuous framework enhancement, to identify and include further risk and control considerations
• Participate in the design and delivery of the global NPA online approval/workflow and reporting tool
• Sales and Trading institutional knowledge (strong risk and control background, gained in a front line supporting role of Sales and Trading activities)
• Ability to use judgement and experience to handle complex requests in varying timescales; make judgments quickly and consistently
• Proven experience in managing or upgrading a multi-region function
• Ability to communicate effectively at all levels
• People management experience
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.