Model Risk (Risk Management) : Job Level - Vice President
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. WHAT YOU CAN EXPECT FROM MORGAN STANLEY: We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.
Requirements
- 10+ years of relevant risk management experience, including model risk and risk analytics.
- Master's or Doctorate in a quantitative discipline (Economics, Statistics, Mathematics, Physics, Computer Science, or Engineering)
- Knowledgeable in macroeconomics and markets. Familiar with wholesale and retail lending business.
- Working knowledge of statistical techniques, quantitative finance, and programming is required; understanding of various complex financial instruments is beneficial.
- Written and verbal communication skills, along with critical thinking, problem solving, and the ability to collaborate within a team, are necessary.
Nice To Haves
- Previous experience on reserve models including CECL and IFRS9 preferred.
- Familiarity with coding languages, particularly Python, is preferred.
- Previous experience on stress loss modeling, PD, LGD, EAD modeling is helpful.
- Knowledge of regulatory requirements (e.g., CCAR, ICAAP) and familiarity with regulators such as Fed, OCC, PRA, and EBA is preferred.
- Interest in a fast-paced, collaborative setting with challenging tasks that blend fundamental, quantitative, and market skills is desirable.
Responsibilities
- Conduct independent model reviews and validations according to Model Risk Management policies, regulatory requirements, and industry best practices
- Prepare clear validation documentation for each model
- Communicate validation findings to senior management and stakeholders
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Industry
Securities, Commodity Contracts, and Other Financial Investments and Related Activities
Number of Employees
5,001-10,000 employees
