Model Risk (Risk Management) : Job Level - Associate

Morgan Stanley • New York, NY

4d • $100,000 - $140,000

About The Position

Morgan Stanley's Firm Risk Management (FRM) Division is an exciting and rapidly growing space. We support 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.

Requirements

• 3+ years' in relevant risk management experience including model risk management and risks analytics preferred
• Masters or Doctorate degree in a quantitative discipline such as Statistics, Mathematics, Physics, Computer Science or Engineering is preferred
• Working knowledge of statistical techniques, quantitative finance and programming is essential; good understanding of various complex financial instruments is preferred.
• Prior experience with developing or validating models is a plus.
• Expertise in PPNR Models.
• Prior experience with fixed income products (for example, securitized products, rates and corporate credit) is a plus.
• Prior experience with the treasury investment portfolio is a plus.
• Strong written and verbal communication, critical thinking, problem solving and team collaboration skills.
• Familiarity with coding languages (R and Python preferred).
• Familiarity with regulatory requirements e.g., Comprehensive Capital Analysis and review (CCAR), Internal capital adequacy assessment processes (ICAAP) and regulators such as Fed, Office of the Comptroller of the Currency (OCC), Property Reserve Analysis (PRA), European Banking Authority (EBA) is desired
• Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative, and market-oriented knowledge and skills preferred.

Responsibilities

• Perform independent review and model validation for the firm's Pre-Provision Net Revenue (PPNR) models, compliant with Model Risk Management policies and procedures, regulatory guidance, and industry leading practices.
• Develop challenger model methodologies for the official production models.
• Write comprehensive validation documentation for models validated.
• Effectively communicate model validation conclusions to senior management and relevant stakeholders.
• Represent Model Risk Management team in interactions with regulatory agencies.

What This Job Offers

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