Model Risk - Governance - (Risk Management) : Job Level - Vice President

Morgan Stanley•New York, NY

55d•$120,000 - $205,000

About The Position

Morgan Stanley's Model Risk Management (MRM) department resides within FRM. The MRM Governance Team sets model risk management standards for the Firm globally through policies, policy supplements, procedures, and templates related to models and Tools. In addition, the team performs policy assurance to ensure standards are being applied consistently across the model lifecycle. This position offers the candidate a unique opportunity to ensure effective and consistent implementation of the model risk management framework covering a set of functional areas, with close interactions with first line model control officers and model developers as well as second line model validators.

Requirements

Bachelor's or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
10+ years of experience from financial institution, consulting firm or in risk management, preferably in an analytical, compliance or regulatory function.
Experience in implementing a model risk management framework
Experience with core model risk management regulation requirements (e.g., FRB SR 11-07, SR 15-18, PRA SS1/23)
Ability to influence and execute the vision for MRM Governance globally
Pragmatic problem solver and forward thinker
Ability to prioritize and manage multiple competing objectives
Strong communicator (verbal and written communication) with good interpersonal skills
Ability to develop partnerships across functions and geographies
Detail oriented with exceptional organizational skills
Advance working knowledge of MS Word, PowerPoint, and Teams
Self-motivated and team player who brings a can-do approach

Nice To Haves

(Preferred) Previous experience in model governance, model development and/or independent model validation/review
(Preferred) Relevant certifications or designations (e.g., CFA or FRM)

Responsibilities

Assess the implementation of the existing model risk management framework, identify inconsistencies and agree actions to resolve inconsistencies with relevant stakeholders for coverage area.
Determine and influence enhancements to the framework and drive roll out of framework enhancements in conjunction with first line leaders and senior model validators in coverage area.
Central point of contact for model risk governance matters for first line model control officers and model developers as well as second line model validators for coverage area.
Review and challenge first line procedures (Models, Tools and End User Computing (EUCs)) and monthly model oversight committee materials for coverage area.
Interface with global regulators and Internal Audit and represent MRM Governance in first line governance forums for coverage area.

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