Model Risk Control Specialist

Morgan Stanley•Baltimore, MD

3d•Onsite

About The Position

We're seeking someone to join our team as a Model Risk Control Specialist in Non-Financial Risk to strengthen the governance, monitoring, and documentation of Financial Crime Compliance models, partnering with model owners and stakeholders to enhance model performance and meet internal policy and regulatory expectations. 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. This is a Director level position within the NFR Data & Analytics team, which is responsible for designing and optimizing surveillance models, approaches, and tools using advanced analytical techniques, and ensuring these models support the detection of suspicious and/or illegal behaviors (e.g., money laundering, market manipulation, insider trading, unfair sales or trading practices, sanctions-related risks, and other financial crimes). Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

Requirements

Ability to build and maintain clear, audit-ready model documentation across the model lifecycle
Understanding of Financial Crime Compliance concepts and model use cases (e.g., AML/transaction monitoring, sanctions screening, trade surveillance)
Experience in ongoing model monitoring, performance analysis, and issue investigation (including root-cause analysis)
Experience partnering with quantitative/analytics teams to support testing, tuning, and optimization of models (including vendor-developed solutions)
Knowledge of model risk governance expectations and standards (e.g., SR 11-7 / OCC 2011-12) and experience supporting validation and exam requests
Ability to translate complex technical concepts into clear materials for non-technical stakeholders and senior management
Experience in producing metrics, management reporting, and tracking model changes through governance forums
Proficiency in data and analytical tools (e.g., SQL, Python, Excel)

Nice To Haves

familiarity with visualization tools (e.g., Power BI, Tableau)

Responsibilities

Draft and maintain comprehensive model documentation across the model lifecycle for Financial Crime Compliance models
Establish and execute ongoing model monitoring controls, partnering with quantitative analysts and subject matter experts
Support model tuning and optimization for Trade Surveillance, Transaction Monitoring, and Sanctions screening models, including ML/AI-enabled approaches where applicable
Oversee and challenge model testing performed by developers and vendors, including design of challenger models or compensating controls as needed
Perform and/or manage periodic assessments and above-/below-the-line testing to evaluate model performance and sustainability
Conduct research on emerging modeling approaches and regulatory expectations, performing gap analyses and recommending enhancements to existing controls
Lead root-cause analysis for model performance anomalies and drive remediation planning with stakeholders
Manage model governance processes, including model inventory updates, change tracking, and reporting to senior management, Model Risk Management, and Internal Audit

Benefits

Medical
Prescription Drug
Dental
Vision
Health Savings Account
Dependent Day Care Savings Account
Life Insurance
Disability and Other Insurance Plans
Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually)
10 Paid Holidays
401(k)
Short/Long Term Disability