Model Risk - Process Validation: Analyst

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:

• Putting Clients First
• Doing the Right Thing
• Leading with Exceptional Ideas
• Giving Back
• 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

Background on the Position: 

This role will reside within Firm Risk Management’s Model Risk Management team responsible for the Firm’s management of model risks related to the implementation and use of valuation, risk, and stress testing models and tools.  This position requires strong risk management mindset, proven subject matter expertise in financial crime regulatory requirements and model validation, and excellent technical, leadership, and organizational skills. 

Risk Process Validation Group

• Morgan Stanley’s Model Risk Management (MRM) department resides within FRM. The Risk Process Validation Group (RPVG) is an independent validation function within MRM. RPVG is responsible for independently assessing selected controls and processes related to Market, Credit, Liquidity, Capital and Data Risk.

Primary Responsibilities:

• Support the independent validations of select FRM processes and controls, including those relating to regulatory and Basel requirements
• Support execution of reviews (e.g., planning, documenting, reporting) and continuous monitoring activities (e.g., risk assessments)
• Support the interaction with stakeholders and business partners to perform walkthroughs, discuss testing questions and potential findings
• Track remedial actions and perform issue closure verification
• Partner with other independent validation teams, e.g., Model Risk Management, Regulatory Reporting Quality Assurance (RRQA), to support a unified validation program end-to-end

Required Experience:

• Bachelor's or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
• Knowledge of risk management and processes and controls across risk stripes (e.g., Credit, Market, Liquidity, Capital and Data Risk)
• Basic understanding of banking regulatory environment, including familiarity with Bank of International Settlements (BIS) principles (e.g., Basel III, BCBS 239, FRTB), Capital Planning requirements and practices (e.g., CCAR, DFAST) and banking regulations (e.g., FRB SR 11-07, SR 12-17, SR 14-08, SR 15-18, PRA SS1/23)
• Knowledge of core banking, investment and trading products

Preferred Experience:

• Understanding of data lineage and database schema; experience working with large data sets; knowledge and experience with data analytics and data visualization tools and systems (e.g., PowerBI, Alteryx, Dataiku, QlikView, Tableau); experience with writing or editing SQL, Python and/or other programming languages; advanced Excel knowledge
• Knowledge of and experience in robotic process automation (RPA)
• Relevant certifications or designations (e.g., CFA or FRM)
• A commitment to teamwork
• Quick learner
• Strong analytical and problem solving skills
• Detail oriented with exceptional organizational skills
• Ability to work effectively on multiple projects under tight deadlines
• Advanced working knowledge of MS Word, PowerPoint, and Teams
• Strong verbal and written communication skills, with the ability to communicate with key stakeholders
• Intellectual curiosity with a focus on information sharing
• Self-motivator and team player who brings a can-do approch

FRM is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 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.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices​ into your browser.

Expected base pay rates for the role will be between $75,000 and $95,000 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).