Model Risk (Risk Management) : Job Level - Analyst

Morgan Stanley•New York, NY

2d•$75,000 - $95,000

About The Position

Firm Risk Management (FRM) supports Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, model and other risks. US Model Risk Management Morgan Stanley's Model Risk Management (MRM) function resides within Firm Risk Management. The US Model Risk Management team supports US Banks model risk governance by partnering with Model Control Officers, independent model validators, and governance and reporting teams. The team contributes to the development and application of policy supplements, prepares risk assessment and performance materials, analyzes model risk and performance data, and presents findings to senior management and risk committees. These activities directly inform risk oversight and decision making within the US Banks. This role offers the opportunity to support the Model Risk Management framework across business and functional areas within the US Banks, with close interaction with MRM Governance, Model Control Officers, model developers, and independent model validators.

Requirements

Bachelor's or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
0 - 2 years of experience from financial institution, consulting firm or in risk management, preferably in an analytical, compliance or regulatory function.
Strong analytical and problem-solving skills
Detail oriented with exceptional organizational skills
Ability to work effectively on multiple projects under tight deadlines
Advanced working knowledge of MS Word, PowerPoint, and Teams
Excellent verbal and written communication skills, with the ability to communicate with key stakeholders
Intellectual curiosity with a focus on information sharing
Self-motivated and team player who brings a can-do approach

Nice To Haves

Knowledge of model development or risk management through industry experience or academic background in related fields
Previous experience in model governance or reporting
Relevant certifications or designations (e.g., CFA or FRM)

Responsibilities

Support the coordination and compilation of monthly US Banks Model Risk Oversight Committee materials, including agenda coordination, charter maintenance, collection of stakeholder inputs, confirmation of quorum for voting members, and preparation of meeting minutes.
Contribute to the identification, assessment, and ongoing monitoring of model risk for the US Banks, including tracking model inventory changes, limitations, and remediation activities.
Support the identification of model risk issues across functional areas impacting the Banks, highlight US Banks related matters originating from the Firm Model Oversight Committee, and articulate key US Banks related model risks to be communicated to senior management and Risk Committees.
Support Model Risk Management contributions to governance forums, including the US Banks Risk Committee, US Banks Board Risk Committee, Wealth Management Risk Committee, and related working groups, by preparing certain presentation materials, maintaining trackers, and monitoring/submitting deliverables and follow up actions.
Support Model Performance Review Working Group meetings, including collection of periodic model performance monitoring results into MRM performance monitoring dashboard, supporting documentation, and ongoing performance monitoring of models.
Partner with US Banks Model Control Officers, MRM validation leads, and MRM Reporting teams on model inventory matters, emerging model risk issues, and committee reporting for senior management.
Engage with MRM Governance to support the maintenance of US Banks supplements to the Global Model Risk Management Policy.
Support the monthly submission of US Banks' Key Risk Metrics (KRIs) to the Banks Enterprise Risk Management team by liaising with model developers, Model Control Officers, and MRM Reporting teams; support the development and ongoing maintenance of KRIs and related metrics.
Coordinate meeting materials for quarterly regulatory engagements, ensuring accuracy, completeness, and consistency.
Produce quarterly status reporting on issues within the Banks' MRM framework, including escalation of significant issues as appropriate; engage with management to determine escalation timing and audience.
Coordinate the quarterly review and challenge of model risk assessments conducted by US Banks Business Units, in coordination with model reviewers.
Support the quarterly computation of concentration risk associated with model risk errors.
Support the compilation of model risk input and feedback to the Banks' short form and long form strategic plans, ensuring alignment with risk appetite and regulatory expectations