Wealth Management Risk Bank Model Control Team - Associate/AVP WM & Bank Tool Governance

Morgan Stanley•Purchase, NY

50d•$58,000 - $115,000

About The Position

Morgan Stanley Wealth Management Risk group is responsible for overseeing the risk and control framework within the Wealth Management business unit. The group teams with WM and Bank business units as well as the Firm Risk Management group to implement control processes and procedures and protect the firm from exposure to various risks including operational, credit, investment, trading, reputational and model risk. The position will reside within WM Model Risk. The Model Control team oversees the model inventory for all WM models as well as Bank models that impact Morgan Stanley Private Bank, National Association ("MSPBNA"), Morgan Stanley Bank National Association ("MSBNA") (collectively, the "Banks"). In addition, the team is responsible for the governance and inventory of the division's non-model Tools. Tools are quantitative methods and calculations that (1) are separate and distinct from models in that their outcomes are generated by deterministic rules or algorithms, and (2) can cause financial, regulatory, or reputational harm to the Firm as a result of undetected errors given their use for Financial or Regulatory Reporting, Capital Planning, Limit Management, Client Reporting, Pricing or any other critical business function. These tools might be implemented in End User Computing software (EUCs) or in broader firm platforms. The applicant should be interested in risk and controls, as well as process oversight and management. Work history should demonstrate strong attention to details, execution and project management skills, and the ability to influence and coordinate within cross-functional teams.

Requirements

Strong organization and time-management skills, with the ability to swiftly transition between projects and tasks
Ability to work independently, be self-motivated, and have accountability/ownership of projects
Excellent communication (verbal and written) and interpersonal skills
Advanced MS Office skills (Excel, PowerPoint, Word)
Prior relevant risk management, operational or regulatory experience
Education: BA or BS

Nice To Haves

Knowledge of Python, SQL or Microsoft Macro/VBA is a plus

Responsibilities

Conduct interviews with business partners to add to the inventory of the division's non-model Tools, both EUC and System based.
Manage inventory of Tools through the Firm Tool database (Cluster Seven IMS).
Lead training and create training materials for business partners
Represent the team and prepare presentation materials for Tool related committees and senior management
Present project status to Senior Management and Model Risk Committees
Maintain various reporting dashboards as needed

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