Associate- Scenario Design Model Validation
Andrea Batra
******
Firm Risk Management
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, operational, model and other risks.
Background on the Position
This role will reside within Firm Risk Management's Model Risk Management team, which is responsible for the Firm's management of risks related to the implementation and use of models, covering all aspects of the Firm's businesses and implementing key regulatory requirements. This position requires strong technical, leadership, and organizational skills.
Primary Responsibilities
>Perform independent review and model validation activities compliant with Model Risk Management policies and procedures, regulatory guidance, and industry leading practices
>Develop challenger model methodologies for the official production models
>Write comprehensive validation documentation for models validated
>Effectively communicate model validation conclusions to senior management and relevant stakeholders
>Represent Model Risk Management team in interactions with regulatory agencies
Experience
>Masters degree preferred; Strong written and verbal communication, critical thinking, problem solving and team collaboration skills
>Familiarity with coding languages (R and Python preferred)
>Prior experience with developing or validating models is a plus
>Familiarity with machine-learning models is desired
>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
>Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative, and market-oriented knowledge and skills preferred
>Familiarity with commodity and energy market, or modeling climate risk and working with climate data is a plus
>Passionate about the intersection of finance and sustainability, with an understanding of relevant themes including, but not limited to, climate change and transition finance
Expected base pay rates for the role will be between 85,000 and 140,000 per 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 Stanley's 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 base 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 the law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).