Business Analyst-Model Risk

Morgan Stanley•Baltimore, MD

2d•$90,000 - $155,000

About The Position

Morgan Stanley is a global financial services firm and a market leader in investment banking, securities, investment management and wealth management services. With offices in more than 43 countries, the people of Morgan Stanley provide our clients with the finest thinking, products and services to help them achieve even the most challenging goals. As a market leader, the talent and passion of our people is critical to our success. We embrace integrity, excellence, teamwork and giving back. Professionals within the Legal and Compliance Division (LCD) provide a wide range of services to our business units. They might help to structure a complex and sensitive cross-border transaction; advise on a new product introduction; develop a training program or defuse an investor dispute. They preserve the firm's invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that meet regulatory requirements around the world. They also strive to maintain cooperative relationships with governmental policymakers and the regulatory and self-regulatory agencies that govern the firm's businesses. The Non-Financial Risk (NFR) Department forms the second line of defense for the management of the firm's non-financial risks, including Financial Crimes, market manipulation or abuse, and Operational risk. NFR Data & Analytics, a function in the Legal and Compliance Division, is responsible for designing and optimizing surveillance models, approaches, and tools using advanced analytical techniques like supervised and unsupervised machine learning, and evolving techniques like graph analytics. These surveillances and other tools help identify suspicious and/or illegal behaviors such as money laundering, market manipulation, insider trading, unfair sales or trading practices, and other financial crimes.

Requirements

Bachelor's degree with strong academic credentials with a degree in business, economics, finance, management information systems, management, risk management, or related fields from a top tier university.
At least 4 years' relevant experience would generally be expected to find the skills required for this role, preferably in Financial Crime Compliance, Model Risk Management, Risk Control, or related domains within Financial Services
Good understanding of AML, Sanctions, and/or Trade Surveillance models
Excellent communication and presentation skills, with ability to convey complex technical concepts to non-technical stakeholders
Strong analytical thinking and critical reasoning skills, with the ability to be self-motivated and work independently

Nice To Haves

An understanding of Fed SR 11-7/ OCC Bulletin 2011-12 on Model Risk Management or related domains in Financial Services
Curious and eager to stay informed of regulatory developments impacting model risk and financial crime compliance (e.g., AML, Sanctions, Market Abuse etc.)
An understanding of models, financial markets, and banking
Proficiency in data analysis tools (e.g., SQL, Python, Excel) and visualization (e.g., Power BI, Tableau) is a plus.
Experience in defining and owning product roadmaps and their delivery

Responsibilities

Draft comprehensive documentation on the design of models within LCD.
Establish ongoing monitoring controls, collaborating with quantitative analysts and subject matter experts to develop or enhance models.
Assist in the tuning and optimization of various Financial Crime Compliance (FCC) models, including those used for Trade Surveillances, Transaction Monitoring, and Sanctions screening, potentially involving machine learning or artificial intelligence.
Support model developers and vendors in performing thorough testing of the models, as well as designing challenger models or compensating controls to ensure optimal model performance.
Maintain existing LCD models by executing or overseeing qualitative analyses related to ongoing monitoring, periodic assessments, above-the-line testing, below-the-line testing, and tuning.
Conduct internal and external research on new trends in modeling approaches, perform gap analysis with existing model controls, provide proposals, and assist stakeholders in implementing proposed solutions.
Perform root-cause analyses associated with potential anomalies detected in model performance.
Document or oversee the documentation of analyses, recommendations, and rationales for each activity related to the models.
Manage and maintain the model risk governance framework for FCC models, ensuring adherence to internal Model Risk Management (MRM) policies and regulatory standards (e.g., OCC 2011-12, SR 11-7, PRA SS1/23).
Assist in the preparation of periodic and ad hoc metrics reports for senior management, including through the evaluation and enhancement of existing metrics and supporting processes
Track and report model changes and results of model tuning and optimization activities to LCD advisory heads, the Model Risk Management, and the Internal Audit groups
Liaising with the MRM Group, the Internal Audit Department, Regulatory Bodies, and other stakeholders as needed during reviews, validations, and exams to fulf