Model Risk (Risk Management) : Job Level - Executive Director

Morgan Stanley • New York, NY

4d • $165,000 - $275,000

About The Position

Lead a team of quantitative experts to assess risks and conduct reviews of exotic equity derivatives valuation models. Ensure the timely delivery of thorough review work in accordance with model risk management policies and procedures, as well as regulatory guidance. - Identify, measure, communicate and decide on significant model risk issues in the coverage area. This includes model usage in the firm's books & records, risk management, downstream capital model inputs, P&L; attribution, and stress loss calculations. - Partner with model owners and developers to better understand and address model limitations. - Review and identify any model usage gaps on new products, new business initiatives and new material exposures. - Drive changes through clear and collaborative decision making to enhance model risk governance. - Provide accurate information on both the existing model inventory and any changes to it. - Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field. - The ideal candidate should have at least 10 years of strong experience in derivatives pricing models, gained in a quantitative model development or validation role at a financial institution (and preferably, in an equity derivatives business). - Experience in advancing ideas and challenging complex mathematical models, where appropriate. The ideal candidate should be an independent thinker able to manage through influence, facilitating and gaining consensus. - Strong stakeholder management skills and team management experience. Experience managing quant teams and stakeholders in a global setting is a plus. - The ability to effectively and clearly communicate with a wide range of stakeholders, both in writing and verbally. - An interest in working in a fast-paced environment, often balancing multiple high-priority deliverables. 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. 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. Expected base pay rates for the role will be between $165,000 and $275,000 year at the commencement of employment. 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, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Requirements

• Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field.
• The ideal candidate should have at least 10 years of strong experience in derivatives pricing models, gained in a quantitative model development or validation role at a financial institution (and preferably, in an equity derivatives business).
• Experience in advancing ideas and challenging complex mathematical models, where appropriate.
• The ideal candidate should be an independent thinker able to manage through influence, facilitating and gaining consensus.
• Strong stakeholder management skills and team management experience.
• The ability to effectively and clearly communicate with a wide range of stakeholders, both in writing and verbally.
• An interest in working in a fast-paced environment, often balancing multiple high-priority deliverables.

Nice To Haves

• Experience managing quant teams and stakeholders in a global setting is a plus.

Responsibilities

• Lead a team of quantitative experts to assess risks and conduct reviews of exotic equity derivatives valuation models.
• Ensure the timely delivery of thorough review work in accordance with model risk management policies and procedures, as well as regulatory guidance.
• Identify, measure, communicate and decide on significant model risk issues in the coverage area.
• Partner with model owners and developers to better understand and address model limitations.
• Review and identify any model usage gaps on new products, new business initiatives and new material exposures.
• Drive changes through clear and collaborative decision making to enhance model risk governance.
• Provide accurate information on both the existing model inventory and any changes to it.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: Ph.D. or professional degree
• Number of Employees: 5,001-10,000 employees