Senior Associate, Risk & Control Assessment
Job Description
We’re seeking someone to join our team as a Senior Associate to the Non-Financial Risk Assessment (NFRA) team which is responsible for designing, implementing, and maintaining the Firm's framework for identifying, assessing, and managing non-financial risks. We ensure robust controls are in place to mitigate risks and protect the firm's reputation and clients. The team partners closely with business units, technology, and risk functions to drive a culture of risk awareness and continuous improvement.
The NFRA team ensures robust controls are in place to protect the firm's reputation and clients by partnering closely with business units, technology, and risk functions to drive a culture of risk awareness. In the Legal & Compliance division, we assist the Firm in achieving its business objectives by facilitating and overseeing the Firm’s management of legal, regulatory and franchise risk.
Why This Role Stands Out
Real impact: Your work directly improves how risk is managed across a global organization
International exposure: Collaborate with colleagues across EMEA and beyond
Strong career growth: Gain visibility with senior stakeholders and expand your skillset quickly
Modern, dynamic environment: Work in a collaborative, inclusive, and fast-paced culture
Budapest location: Be part of a growing strategic hub within Morgan Stanley
Since 1935, Morgan Stanley has been a global leader in financial services, and this Associate position within Business Audit is key to inspecting controls across front, middle, and back-office functions.
What you will do in the role:
Make Risk Meaningful
Drive key NFRA activities and partner with teams across the business to ensure strong risk management practices
Own NFRA program management, including stakeholder engagement, communication of expectations, and delivery timelines
Collaborate & Influence
Work closely with stakeholders across business, technology, data and analytics, and risk functions to influence change across the NFRA program
Support high-profile regulatory and audit engagements (e.g., ECB, PRA, FRB)
Present insights and recommendations to senior stakeholders
Use Data to Drive Change
Turn complex datasets into clear, actionable insights
Contribute to improving risk tools, reporting, and automation
Be a Change Driver
Identify opportunities to enhance NFRA processes, reporting, and technology
Promote a culture of continuous improvement and risk awareness
What you will bring to the role:
We’re looking for a motivated, forward-thinking professional who thrives in an international environment:
4+ years of experience in financial services, consulting, or Big 4
Solid understanding of risk & control frameworks (e.g., RCSA)
Knowledge of regulatory risk areas (Operational, Compliance, Financial Crime is a plus)
Strong analytical and program management skills (Excel, data analysis)
Excellent communication skills – able to simplify complex topics
A proactive, can-do attitude with the ability to work both independently and as part of a global team
#LI-KP1
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.
To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
Certified Persons Regulatory Requirements:
If this role is deemed a Certified role and may require the role holder to hold mandatory regulatory qualifications or the minimum qualifications to meet internal company benchmarks.
Flexible work statement
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.
Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.
Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.
For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.