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.
MRM professionals in New York, London, Budapest, Frankfurt, Mumbai and Tokyo work closely with business quantitative strategists, risk analytics, risk managers and financial controllers. The New York team works collaboratively with members of Model Risk Management across all model areas globally.
- Manage and lead independent model review and validations, compliant with Model Risk Management policies and procedures, regulatory guidance, and industry leading practices, including evaluating model conceptual soundness, appropriateness of modeling methodology, quality of model inputs, model performance, model limitations, on-going monitoring of Wealth Management Decision Support models, and ad-hoc special model review analytical projects
- Work with a global team within Model Risk Management, organizing schedules of deliverables and meeting deliverable due dates, and escalating issues on assigned projects
- Write high-quality validation reports that satisfies the firm's internal model approval functions, audit requirements, and regulatory standards
- 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.
- Represent the Model Risk Management team in interactions with Internal Audit department and with regulatory agencies as required.
Experience Required
5 or more years of relevant working experience in building or reviewing financial planning, portfolio management and derivative pricing models
The follow experiences are a plus:
- Team management/leadership experience
- Hands-on experience of financial planning, portfolio management and derivative pricing models
- Hands-on experience in Artificial intelligence and machine learning modeling, data science, statistics or related quantitative analyses.
- 2nd line of defense model validation role or risk management role
Skills Required
- Masters or Doctorate degree in quantitative area
- Strong programming and data analysis skills (e.g., Python, R, etc.)
- Strong report writing skills, capable of producing high-quality report, detailed reports that clearly articulate model methodologies, effective challenges and comprehensive testing
- Strong written and verbal communication skills. Must be comfortable leading meetings and making formal presentations
- Risk management-oriented mindset including effective risk prioritization, critical and analytical questioning, and ability and willingness to speak up
- Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative and market-oriented knowledge and skills
Salary range for the position: $105,000 - $170,00/ Yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which also may include a discretionary bonus component. Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 20 Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings.
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).