Vice President Model Risk Management (Market Risk Models Coverage Head)
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 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
>Oversee the independent review and model validation activities for Market Risk Models (e.g., VaR, Stressed VaR, RNiV and FRTB) ensuring they are compliant with Model Risk Management policies and procedures, regulatory guidance, and industry leading practices.
>Managing the global Market Risk validation team within Model Risk Management, organizing schedules of deliverables, and meeting deliverable due dates, as well as escalating issues.
>Work with the Model Risk Manager to monitor the trend of Model Risk metrics & to raise any significant or thematic Model Risk Issues to the attention of senior management.
>Establish & maintain good relationships with stakeholders such as Risk Analytics, Market Risk Managers, Strategists and Finance and represent the Model Risk Management team regularly in forum involving those stakeholders.
>Co-ordinate interaction with to Internal, external Auditors as well as regulatory agencies across various Legal Entities and geographies.
Experience
>Masters/Doctorate degree in a quantitative discipline (such as Mathematics/Statistics/Physics/Computing Financial Engineering, Computational Finance, Mathematical Finance, or related fields)
>Familiarity with essential quantitative techniques used in financial models.
>Prior experience of working on Market Risk models in Model Risk Management or Risk Analytics is essential.
>Strong written and verbal communication skills. Must be comfortable leading meetings and making formal presentations.
>Ability to work independently, as well as collaboratively within a team of specialists and with internal stakeholders.
>Ability to effectively communicate up to senior management and to guide junior staff.
>Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative, and market-oriented knowledge and skills
>Quantitative programming skills (e.g., Python, R, MATLAB etc.) would be useful.
Expected base pay rates for the role will be between 110,000 and 190,000 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).