Model Risk (Risk Management) : Job Level - Associate

Model Risk Management - Associate, Capital and Risk Weighted Assets

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:
1. Putting Clients First
2. Doing the Right Thing
3. Leading with Exceptional Ideas
4. Giving Back
5. 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 Primary Responsibilities
1. Conduct model validation for market risk and credit risk RWA (Risk Weighted Assets) models used under forecasting for CCAR and other regulatory stress testing guidelines by challenging model assumptions, mathematical formulation, and implementation.
2. Conduct and develop independent testing ideas and framework to assess model accuracy and robustness under different scenarios and market conditions for the Models.
3. Contribute to development and independently review existing monitoring and quantify model risks due to model limitations including developing compensating controls.
4. Develop high-quality validation reports highlighting risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees
Collaborate with Global MRM teams, Model Control Officers, Regulatory Capital Controllers, Finance and Risk Managers to manage model risk across the model lifecycle.
5. Assist in cultivating and managing effective relationships with regulators by providing accurate and timely submissions.
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Experience
-Masters (or equivalent) in Finance, Economics, Mathematics, or a related quantitative field is required.
-The ideal candidate has experience with understanding of credit risk or market risk gained at a financial institution is required.
-2+ years of relevant working experience with validation, development or finance and change management function is required.
-Knowledge of financial products and regulatory rules capital framework (SA-CCR, FRTB and Basel III rules) is a plus.
-Experience on Regulatory Capital with CCAR and other supervisory stress testing is a plus.
-The ability to effectively communicate with a wide range of stakeholders, both written and verbally is required.
-Ability to partner and work effectively both with team members and with colleagues across the wider organization.
-An interest in working in a fast-paced environment, often balancing multiple high priority deliverables with high attention to detail attitude is required.
-Experience developing model testing for risk or capital models with IT implementation using Python, R or Alteryx and Excel VBA is a plus.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 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 what's 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.

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Expected base pay rates for the role will be between $100,000 and $140,000 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 is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

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