Residential Mortgage Credit Risk VP
About The Position
Firm Risk Management (FRM) supports 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, model and other risks. Background on the Position The role will reside within Wealth Management Credit Risk Management, which evaluates and actively monitors the credit risk of a loan portfolio for Wealth Management clients. The team supports Morgan Stanley Home Loans business unit and operates within the firm's risk appetite. This role is for a VP-level Credit Professional within the Residential Mortgage team. The core responsibility is active portfolio management, including assessing, tracking and escalating changes in the portfolio's risk profile and asset quality, as well as reviewing and challenging proposals from the First Line of Defense (e.g. limit changes, underwriting requirements changes, etc.). The role also includes providing senior management updates and preparing responses to internal and external audit requests.
Requirements
- Bachelor's degree in finance and accounting required, MBA is an asset
- 5+ years of experience in residential mortgage credit risk, portfolio surveillance, or related risk management for consumer/real estate lending (private bank, retail bank, or similar)
- Strong credit fundamentals and analytical skills, including experience evaluating loan performance drivers and borrower/property risk using loan servicing data, collateral characteristics, and portfolio stratifications
- Excellent written and verbal communication skills; experienced presenting emerging risks, trends, and recommendations to senior leadership
- Strong technical skills (Excel and PowerPoint required; experience with SQL or similar querying tools preferred) and comfort working with large datasets to produce repeatable, well-controlled reporting
- Demonstrated ability to manage competing priorities in a fast-paced environment, partner across functions (Finance, Risk Reporting, Technology, and business stakeholders), and mentor junior team members
Responsibilities
- Responsible for active credit coverage of a residential mortgage lending portfolio
- Active monitoring and reporting of key performance indicators of mortgage loans including delinquency, forbearances and CECL impairment analysis.
- Impact assessments and resolution recommendations and portfolio oversight post a climate events
- Active monitoring and oversight of problem loan resolution, approvals of modification requests, forbearances and loans impacted by physical risk events
- Make timely recommendations regarding changes in regulatory loan classifications, CRM Watchlist, and Accounting Standard Updates and manage systemic reporting of outputs
- Lead or participate in ad-hoc projects / audits / regulatory exams / procedure, policy, and model reviews
- Preparation of BAU portfolio summaries as well as ad-hoc special topics covering assessment of trends and emerging risks for governance forums, FRM senior leadership
- Ensure data integrity of the portfolio reports by working with stakeholders in various departments including finance, FRM reporting, business unit analytics and technology
- Manage all requests within stated turn times while managing expectations through active communication with management and business risk & origination teams
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
5,001-10,000 employees
