Vice President - Client Onboarding Lead, Account Management Team, Australia Wealth Management
Location: Sydney, Australia
Type: Full Time
Internal Number: 20430042
About The Company and Team
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.
The Account Management Team (AMT) within the Morgan Stanley Australia Wealth Management business is responsible for the life cycle of client accounts encompassing Client Onboarding, Maintenance, Remediation and Regulatory activities.
About The Role
Reporting to the Head of Australia AMT, the Client Onboarding Lead will run the Client Onboarding stream within AMT. The role will be part of a team who support both local and overseas teams relating to the onboarding and ongoing maintenance of client accounts, client documentation and data integrity. The ideal candidate would have experience working in Compliance / AML onboarding High Risk clients or has onboarding experience in a similar role within the wealth management sector.
Duties and Responsibilities ??? Perform supervisory review and sign off on onboarding requests, including checking of high-risk components ??? Responsible for ensuring onboarding requests meet required quality standards via checking of requests, establishment of quality control framework, and conducting training with AMT Australia team members to address and improve quality results ??? Act as SME to Front Office and other stakeholders on onboarding related matters, including but not limited to CIP/KYC documentation, SoW profiles, AML related issues, and other onboarding documents ??? Improve overall client experience by minimizing error / rejection rates and reducing overall turnround time for account opening review ??? Supervise and lead the client onboarding team including hiring, training, and monitoring performance & development ??? Act as key contact for onboarding related escalations, and provide proactive solutions and/or answer complex queries from stakeholders ??? Prepare monthly Management Information (MI) reporting/ statistics, and monitor team performance to ensure measurable targets are attained ??? Identify and escalate any high-risk issues to GFC/Compliance/ Risk for further review and discussion; work collaboratively with the relevant teams for resolution ??? Continuous active engagement with Front Office to share and educate KYC and AML related guidance/learning points, with the objective to improve the standard and quality of KYC and client due diligence ??? Ensure account opening documentation and relevant approval records are retained properly in internal database and monitor the receipt of any outstanding documentation within required timeframe. ??? Represent AMT in key Run-the-Bank and Change-the-Bank projects, including system enhancements, regulatory related remediations, and other ad-hoc regulatory compliance exercises such as investigation and response preparation for regulatory inspection
EDUCATION, EXPERIENCE, KNOWLEDGE AND SKILLS
Key Competencies/ Skills ??? Knowledge and experience related to customer onboarding and current AML/KYC regulations (Locally and Globally) ??? High attention to detail and an analytical mindset. Confident analysing data from multiple systems to conduct checking and assess inherent risks ??? Ability to anticipate and identify AML risks and determine effective mitigation at both process and account level ??? Expert knowledge of CIP requirements, account structures of various complexity (inc PHC, Trust, Charity, Superannuation Fund), KYC documentation, private wealth management regulatory requirements and best practices ??? Knowledge in Source of Wealth / Source of Funds is a must ??? Excellent verbal and written communication skills ??? Self-motivated and enthusiastic
Education and/or Experience: ??? Previous experiences in client onboarding/ AML / Compliance within private banking or a top-tier bank with exposures to complex entity structures ??? Bachelor's degree or equivalent education or experience ??? 8 + years plus relevant working experience in the financial services industry ??? Strong people management skills ??? Ability to network effectively with staff or external parties and maintain effective working relationship ??? Effective organizational skills; ability to work under pressure and prioritize tasks effectively ??? Excellent verbal and written English communication skills ??? Developed interpersonal, negotiation and relationship management skills, including dispute resolution and relationship building; ability to communicate at all levels
Equal Opportunity Statement
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, gender, gender identity or expression, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy (including unlawful discrimination on the basis of a legally protected pregnancy/maternity leave), veteran status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce