Morgan Stanley's Firm Risk Management (FRM) Division is an exciting and rapidly growing space. We support 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.
Responsibilities -
Lead and perform independent 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 of models used for the Firm's Investment Management business.
Communicate model validation conclusions to relevant stakeholders and work with stakeholders to develop appropriate remedial actions to resolved identified model issues. Track progress against model issue remediation actions and take appropriate review actions to resolve.
Write comprehensive and high-quality review reports for models validated and peer review reports written by members of the model validation team.
Identify and escalate thematic and idiosyncratic risk themes related to the models under the coverage area. Engage with relevant stakeholders in identifying effective approaches to managing such risks.
Analyze information and support conclusions on model determinations.
Analyze model risks associated with New Product requests and drive efforts to manage model risks related to new products.
Support the Model Risk Management team in interactions with Internal Audit department and with regulatory agencies, as required.
Produce model risk materials for committee and management meetings.
- 7 or more years in building, using or validating models in asset management / investment management businesses including portfolio/fund construction and portfolio risk management models.
- Working experience at an asset management institution including market environment dynamics.
- The follow experiences are a plus:
o understanding of asset management business risks including investment risk, credit risk, and liquidity risk
o familiarity with ESG fund construction and risk management
o prior 2nd line of defense model validation experience
- Masters or Doctorate degree in a technical business area such as Finance and Business Administration.
- Quantitative programming and data analysis skills
- Risk management-oriented mindset including effective risk prioritization, critical and analytical questioning, and ability and willingness to speak up.
- Strong written and verbal communication skills. Must be comfortable leading meetings and making formal presentations.
- Strong interpersonal relationship skills
- The following degrees or certifications are a plus:
o Chartered Financial Analyst (CFA)
o Financial Risk Manager (FRM)
- Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative and market-oriented knowledge and skills.
Expected base pay rates for the role will be between $120,000 and $200,000 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 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 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).