Model Risk Management Framework : Job Level - Vice President
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. Model Risk Management Governance Morgan Stanley's Model Risk Management (MRM) department resides within FRM. The MRM Governance Team sets model risk management standards for the Firm globally through policies, policy supplements, procedures, and templates related to models and Tools. This position offers the candidate a unique opportunity to drive enhancements to the existing Model Risk Management framework across the model lifecycle globally across the firm, with close interactions with Model Control Officers, model developers and model validators.
Requirements
- Bachelor's or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
- 10+ years of experience from financial institution, consulting firm or in risk management, preferably in model governance, model development and/or independent model validation, analytics, compliance or regulatory/internal audit function.
- Experience in designing and implementing a model risk management framework through policy and procedure writing
- Experience with core model risk management regulation requirements (i.e., FRB SR 11-07, SR 15-18, PRA SS1/23)
- Ability to influence and execute the vision for MRM Governance globally
- Pragmatic problem solver and forward thinker
- Ability to prioritize and manage multiple competing objectives with tight deadlines
- Strong communicator (verbal and written communication) with good interpersonal skills and the ability to influence various stakeholders on topics
- Ability to develop partnerships across functions and geographies
- Detail oriented with exceptional organizational skills
- Advance working knowledge of MS Word, PowerPoint, and Teams
- Self-motivated and team player who brings a "can-do" approach
Nice To Haves
- (Preferred) Relevant certifications or designations (e.g., CFA or FRM)
Responsibilities
- Maintain and update Model Risk Management Framework through policy, policy supplements, procedures and templates enhancements for models and Tools
- Partner with a wide range of stakeholders across the Firm on model risk governance and framework initiatives including training
- Liaise with functional and business leaders to roll out model risk management framework enhancements
- Work on requirements for the model inventory or system enhancements to align with the framework enhancements
- Manage Model Risk Governance Committee and other forums
- Interface with global regulators and Internal Audit
- Manage, coach and develop team members
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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
