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

Morgan Stanley • New York, NY

4d • $120,000 - $200,000

About The Position

This role will reside within Firm Risk Management’s Model Risk Management team responsible for the Firm’s management of model risks related to the implementation and use of valuation and risk models. This position requires strong risk management mindset, proven subject matter expertise in model validation, and excellent technical, leadership, and organizational skills.

Requirements

• Five or more years in development or model validation of pricing models for Mortgage Resi products such as Resi Whole Loans, Agency, and non-agency products,
• Experience with Rates and Securitization pricing models,
• Expertise in Financial Mathematics such as Stochastic Calculus and Statistics,
• Proficiency in statistical software packages,
• Advanced degree in Finance, Mathematics, Physics, Engineering, Economics, or related quantitative fields,
• Experience engaging with regulators and internal audit,
• Strong written and verbal communication, including ability to influence and effect change,
• Critical thinking, problem solving, resourcefulness,
• Ability work in a dynamic, fast-paced, high-pressure environment,
• Experience with team leadership, people management, including remote teams.

Responsibilities

• Lead a team of Reviewers and perform independent model reviews of the Resi Mortgage pricing models including Whole Loans and Securitized Products compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring.
• Communicate model validation conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial actions.
• Write comprehensive and high-quality review reports and oversee and train validation team members preparing such reports,
• Proactively identify and escalate thematic and idiosyncratic risk themes related to the models under the coverage area. Engage with relevant stakeholders in identifying effective approaches to managing such risks,
• Support high-profile, time-sensitive deliverables with limited supervision,
• Establish and sustain productive relationships with model stakeholders in 1LOD, 2LOD and 3LOD.
• Represent the Model Risk Management team in interactions with the business, model developers, the Internal Audit department and with regulatory agencies.

What This Job Offers

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