Model Risk (Risk Management) : Job Level - Associate

Morgan Stanley • New York, NY

3d • $100,000 - $140,000

About The Position

Morgan Stanley is a leading global financial services firm. Firm Risk Management (FRM) enables 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, operational, model and other risks. You will collaborate with colleagues across FRM and the Firm to protect the Firm's capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication, we are best able to bring our ideas to the table and improve the Firm. Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees. Firm Risk Management's unique franchise promotes: Flat, flexible and integrated global organization, Collaboration and teamwork, Credible, independent decision-making, Organizational influence, Creative and practical solutions, Meritocratic and diverse culture.

Requirements

• Masters (or equivalent) in Finance, Economics, Mathematics, or a related quantitative field is required.
• The ideal candidate has experience with understanding of credit risk or market risk gained at a financial institution is required.
• 2+ years of relevant working experience with validation, development or finance and change management function is required.
• The ability to effectively communicate with a wide range of stakeholders, both written and verbally is required.
• Ability to partner and work effectively both with team members and with colleagues across the wider organization.
• An interest in working in a fast-paced environment, often balancing multiple high priority deliverables with high attention to detail attitude is required.

Nice To Haves

• Knowledge of financial products and regulatory rules capital framework (SA-CCR, FRTB and Basel III rules) is a plus.
• Experience on Regulatory Capital with CCAR and other supervisory stress testing is a plus.
• Experience developing model testing for risk or capital models with IT implementation using Python, R or Alteryx and Excel VBA is a plus.

Responsibilities

• Conduct model validation for market risk and credit risk RWA (Risk Weighted Assets) models used under forecasting for CCAR and other regulatory stress testing guidelines by challenging model assumptions, mathematical formulation, and implementation.
• Conduct and develop independent testing ideas and framework to assess model accuracy and robustness under different scenarios and market conditions for the Models.
• Contribute to development and independently review existing monitoring and quantify model risks due to model limitations including developing compensating controls.
• Develop high-quality validation reports highlighting risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees Collaborate with Global MRM teams, Model Control Officers, Regulatory Capital Controllers, Finance and Risk Managers to manage model risk across the model lifecycle.
• Assist in cultivating and managing effective relationships with regulators by providing accurate and timely submissions.

Benefits

• Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world.
• In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level