Vice President - Quantitative Analytics Group (Model Risk Audit)

Morgan Stanley • New York, NY

7d • Hybrid

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. We are seeking a highly skilled and experienced individual to join our team as a Vice President responsible for providing audit coverage for the Quantitative Analytics Group (Model Risk Audit). The Internal Audit Division (IAD) drives attention and resources to vulnerabilities by providing an independent and well-informed view and impactful messages about the most important risks facing our Firm. This is accomplished by performing a range of assurance activities to independently assess the quality and effectiveness of Morgan Stanley’s system of internal control, including risk management and governance systems and processes. IAD serves as an objective and independent function within the Firm’s risk management framework to foster continual improvement of risk management processes. This is a Vice President level position within the Technical Specialist job family, which is responsible for providing extensive subject matter expertise and reinforcing the ability of business and technology audit teams to appropriately assess model risk and model risk management, and determine and execute coverage.

Requirements

• Advanced knowledge of Anti-Money Laundering, and Asset Liability Management (ALM) and Interest Rate Risk in the Banking Book (IRRBB)
• Experience in model development and validation and/or audit across ALM and IRRBB models
• Strong knowledge of regulatory expectations, model risk governance, and financial risk management practices
• Strong understanding of audit principles, methodology, tools and processes (e.g., risk assessments, planning, testing, reporting and continuous monitoring)
• Ability to articulate risk and impact clearly and succinctly to different audiences
• Effective change and project management techniques and ability to support teams in adapting new ways of working
• Ability to leverage and analyze data to inform focus and views on risk
• Ability to coach and mentor others and create an inclusive work environment for team
• Masters or PhD in Mathematics, Financial Engineering, Quantitative Finance or hard sciences (e.g., Physics)
• Excellent written and verbal communication skills and strong analytical and problem-solving skills
• Strong interpersonal skills to interact effectively with internal and external stakeholders
• At least 6 years' relevant experience would generally be expected to find the skills required for this role

Nice To Haves

• Relevant certifications (e.g., CIA, FRM, CRMA, etc.) preferred

Responsibilities

• Formulate and lead a wide range of assurance activities to assess model risks within coverage area and the state of controls in place to mitigate them
• Audit the model development and validation processes (e.g., review of conceptual soundness, diagnostic testing, implementation and ongoing monitoring) of valuation, risk, capital and liquidity models used for management of Asset Liability Management and Interest Rate Risk in the Banking Book
• Review and challenge work performed by issue owners to remediate internal and external issues related to model risk
• Proactively identify risk and emerging risk, and factor into model risk assessment and assurance coverage
• Articulate actionable insights to model developers and Model Risk Management regarding criticality and impact of model risks to the business in order to provide sound oversight and guidance on appropriate model usage and limitations
• Document all work performed in a concise and repeatable manner
• Effectively partner with colleagues and stakeholders globally to drive effective working relationships
• Align projects and initiatives with department and coverage area priorities, and oversee team's execution of deliverables in accordance with audit methodology and quality standards

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Ph.D. or professional degree