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

Morgan Stanley • New York, NY

12d

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 model development and/or independent model validation, analytics, compliance or regulatory/internal audit function
• Experience in quality assurance, model risk controls, challenging the implementation of a model risk management framework
• Ability to influence and challenge the implementation of the MRM Governance Framework
• Pragmatic problem solver and forward thinker with strong analytical background and ability to assess model documentation against the MRM standards
• Ability to prioritize and manage multiple competing objectives with tight deadlines
• 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

• Experience with core model risk management regulation requirements (e.g., FRB SR 11-07, SR 15-18, PRA SS1/23)
• Relevant certifications or designations (e.g., CFA or FRM)

Responsibilities

• Assess the implementation of the existing model risk management framework, identify inconsistencies and agree on actions to resolve inconsistencies with relevant stakeholders for the 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 the 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 the coverage area.
• Review and challenge first line procedures (Models, Tools and End User Computing (EUCs)) and monthly model oversight committee materials for the coverage area.
• Interface with global regulators and Internal Audit and represent MRM Governance in first line governance forums for the coverage area.
• Roll out training on policy assurance expectations and raise self-identified issues in OpenPages when necessary

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees