Internal Audit – Investment Banking and Global Capital Markets

Full Job Description

Internal Audit – Investment Banking and Global Capital Markets

Job Number:


POSTING DATE: Sep 27, 2021

PRIMARY LOCATION: Americas-United States of America-New York-New York

JOB: Audit


JOB LEVEL: Executive Director




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 (IA) 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 is comprised of 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 the 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.

Position Description

Morgan Stanley is seeking an Executive Director for its Institutional Securities Group’s (ISG) Internal Audit team, with coverage primarily centered on the Global Capital Markets (GCM), and Investment Banking Division (IBD), Research businesses (collectively referred to as “Division”) in New York. The person in the role will manage the Internal Audit department’s Division team and be responsible for accessing risk, developing and executing its assurance plan activities, and providing cogent informative messages related to the division’s control environment to senior management, regulators and the board of directors. The role requires a control minded change agent who readily embraces new ideas, takes the initiative, acts in agile manner, and seeks to make a meaningful and positive impact on the division’s control environment. The individual should have strong knowledge of the division’s products and the regulations around them.


Position Description


Primary Responsibilities

The Auditor’s responsibilities include but are not limited to:

Leads the IBD and GCM IA teams and provides oversight of IA’s IBD and GCM assurance activities

Leverages business knowledge to evaluate risks and provide perspectives, constructive insights and credible challenge to the IBD and GCM business / strategic plans and control environments

Leads comprehensive front-to-back risk assessments and drives collaborative support from the support teams

Develops and maintains productive and informative relationships with IBD and GCM Senior Management including business / product owners and support teams

Leads and ensures timely and cohesive messaging to senior management and the board on areas of risks and state of internal controls

Oversees IA’s evaluation of IBD and GCM management’s implementation of remediation actions regarding audit and regulatory findings with the objective of strengthening internal controls

Leads talent management of the (IED, FID, IBD/GCM) audit teams and ensures appropriateness of staffing, expertise and resources required to effectively carry out IA’s role and responsibilities

Ensures IA’s compliance with sound internal auditing standards

Skills required

15+ years of experience in financial services is essential, with a preference for those with experience of auditing Investment Banking and Global Capital Markets products and associated regulations

College degree (or equivalent) required, CPA, CIA or international equivalent audit qualification preferred

Excellent leadership and strong organizational skills including experiences managing large teams, collaborating across teams and fostering meaningful and effective working relationships

Strong oral and written communication skills including ability to convey complex risks and issues for a broad range of audiences clearly and concisely while actively building consensus

Risk and control mindset with ability to develop new ideas, take initiative, and seek to make a meaningful and positive impact on the Bank’s control environment

In-depth understanding of institutional – sales & trading, financial instruments including cash & derivatives products, and other banking products and services, complex reserves, and risk management strategies

Able to identify and synthesis issues, analyze trends and identify areas of further assessment

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