Model Risk (Risk Management) : Job Level - Associate

Morgan Stanley • New York, NY

2d • $100,000 - $140,000

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 models and Pre-Position Net Revenue (PPNR) models for the Firm's Wealth Management products. This position requires strong risk management mindset, proven subject matter expertise in financial crime regulatory requirements and model validation, and excellent technical, leadership, and organizational skills.

Requirements

• 2+ years performing model validations, preferably of valuation models or PPNR models.
• Working knowledge of statistical techniques, quantitative finance.
• Proficiency in statistical software packages.
• Experience with modeling of customer behavior ; deposit or lending products, or treasury investment portfolio is a plus.
• Sound understanding of model SR 11-7/OCC 2011-12.
• Graduate degree in Finance, Mathematics, Physics, Statistics or similar quantitative field.
• Risk-oriented mindset including effective risk prioritization, critical and analytical questioning, and ability and willingness to speak up.
• Strong written and verbal communication skills.
• Critical thinking, problem solving, team-collaboration skills.
• Desire and ability work in a dynamic, fast-paced, high-pressure environment focusing on challenging tasks mixing fundamental, quantitative, and market-oriented knowledge and skills.

Nice To Haves

• Knowledge of machine learning techniques is a plus.

Responsibilities

• Perform independent model reviews compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, modeling methodology, assumptions, model limitations / weaknesses, and on-going monitoring for Firm's valuation models and PPNR models to support Wealth Management deposits (sweeps, savings) and lending products.
• Communicate model validation conclusions to Validation Head for WM Deposits and Lending models and relevant stakeholders and engage relevant 1LOD and 2LOD functions to adequately resolve identified model issues.
• Write comprehensive and high-quality review reports for models validated
• Support engagements with Internal Audit and regulators as required

What This Job Offers

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