Model Risk (Risk Management) : Job Level - Executive Director

Morgan Stanley • New York, NY

4d • $165,000 - $275,000

About The Position

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. The talent and passion of our people is critical to our continued success as a firm. Together, we share four core values rooted in integrity, excellence and strong team ethic: - Putting Clients First - Doing the Right Thing - Leading with Exceptional Ideas - Giving Back - Committing to Diversity and Inclusion Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow. Firm Risk Management (FRM) enables 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. You will collaborate with colleagues across FRM and the Firm to protect the Firm's capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication, we are best able to bring our ideas to the table and improve the Firm. Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees. Firm Risk Management's unique franchise promotes: - Flat, flexible and integrated global organization - Collaboration and teamwork - Credible, independent decision-making - Organizational influence - Creative and practical solutions - Meritocratic and diverse culture Background on 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, risk, and stress testing models and tools. This position requires strong risk management mindset, proven subject matter expertise in model validation, and excellent technical, leadership, and organizational skills.

Requirements

• Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field.
• The ideal candidate should have at least 10 years of strong experience in derivatives pricing models, gained in a quantitative model development or validation role at a financial institution (and preferably, in an equity derivatives business).
• Experience in advancing ideas and challenging complex mathematical models, where appropriate. The ideal candidate should be an independent thinker able to manage through influence, facilitating and gaining consensus.
• Strong stakeholder management skills and team management experience. Experience managing quant teams and stakeholders in a global setting is a plus.
• The ability to effectively and clearly communicate with a wide range of stakeholders, both in writing and verbally.
• An interest in working in a fast-paced environment, often balancing multiple high-priority deliverables.

Responsibilities

• Lead a team of quantitative experts to assess risks and conduct reviews of exotic equity derivatives valuation models. Ensure the timely delivery of thorough review work in accordance with model risk management policies and procedures, as well as regulatory guidance.
• Identify, measure, communicate and decide on significant model risk issues in the coverage area. This includes model usage in the firm's books & records, risk management, downstream capital model inputs, P&L attribution, and stress loss calculations.
• Partner with model owners and developers to better understand and address model limitations.
• Review and identify any model usage gaps on new products, new business initiatives and new material exposures.
• Drive changes through clear and collaborative decision making to enhance model risk governance.
• Provide accurate information on both the existing model inventory and any changes to it.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: Ph.D. or professional degree
• Number of Employees: 5,001-10,000 employees