Morgan Stanley

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

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 financial crime regulatory requirements and model validation, and excellent technical, leadership, and organizational skills.

Primary Responsibilities:

Lead and perform independent model reviews compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring for Firms pricing, validation, risk, and capital planning models and tools.
Understand the use and effectiveness of models and tools within the context of relevant Firm businesses and processes.
Communicate model and tool validation conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial actions to effectively resolve identified model and tool issues. Track progress against model and tool issue remediation actions and take appropriate review actions to resolve.
Write comprehensive and high-quality review reports for models and tools validated, and oversee and train validation team(s) in writing such reports.
Proactively identify and escalate thematic and idiosyncratic risk themes related to the models and tools under the coverage area. Engage with relevant stakeholders in identifying effective approaches to managing such risks.
Support high-profile, time-sensitive deliverables with limited supervision
Establish and sustain productive relationships with model stakeholders in 1LOD, 2LOD and 3LOD
Represent the Model Risk Management team in interactions with Internal Audit department and with regulatory agencies as required

Required Experience:

10 or more years in validating pricing, valuation, risk, capital planning, or stress testing models
Proficiency in statistical software packages, data mining and machine learning techniques
Familiarity with regulatory requirements e.g., Comprehensive Capital Analysis and review (CCAR), Internal capital adequacy assessment processes (ICAAP) and regulators such as Fed, Office of the Comptroller of the Currency (OCC), Property Reserve Analysis (PRA), European Banking Authority (EBA) is desired
Experience engaging with regulators and internal audit
Expertise/specialization in modeling or model validation in one or more of following areas are differentiators:
- Mortgage products
- Deposit products (e.g., checking, savings, sweep, CD)
- Fixed income products (e.g., securitized products, rates and corporate credit
- Commodity and energy products
- Climate risK
Advanced degree in Finance, Mathematics, Engineering, Data Analytics, or related technical fields
Risk-oriented mindset including effective risk prioritization, critical and analytical questioning, and ability and willingness to speak up.
strong written and verbal communication, including ability to influence and effect change
Critical thinking, problem solving, resourcefulness
Ability work in a dynamic, fast-paced, high-pressure environment
Handling multiple high priority deliverables
Experience with team leadership, people management, including remote teams

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do whats best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Expected base pay rates for the role will be between $165,000 and $275,000 year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanleys goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).