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Firm Risk Management
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

1. Conduct model validation for market risk and credit risk RWA (Risk Weighted Assets) models used under forecasting for CCAR, ICAAP, FRTB, Basel III and Basel III End Game rules and other regulatory stress testing guidelines by challenging model assumptions, mathematical formulation, and implementation of supervisory rules.
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. Independently develop and review existing monitoring and quantify model risks due to model limitations and thematic risks 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.

•        Strong technical / programming skills
• ·       Understanding how model risks impact the business, and business changes impact models
• ·       Strong communication skills with ability to articulate complex concepts appropriately to different audiences including senior management
• ·       Masters (or equivalent) in Finance, Economics, Mathematics, or a related quantitative field is required.
• ·       The ideal candidate has strong experience with understanding of regulatory rules for credit risk and market risk gained at a financial institution is required.
• ·       5+ years of relevant working experience with validation, development or finance and change management function with sound understanding of Model lifecycle and validation report is required.
• ·       Experience on Regulatory Capital with CCAR and other supervisory stress testing is a plus.
• ·       Knowledge of financial products and regulatory rules capital framework (SA-CCR, FRTB, Basel III and Basel III End Game) 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 attention to detail is required.

Expected base pay rates for the role will be between $110,000 and $190,000 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).