Firm Risk Management

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.

Background on the Position

This role will reside within Firm Risk Management's Model Risk Management (FRM) team, which is responsible for the Firm's management of risks related to the implementation and use of models, covering all aspects of the Firm's businesses and implementing key regulatory requirements. This position requires strong technical, leadership, and organizational skills.

Primary Responsibilities

· 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 documentation that satisfies the firm’s internal model approval functions, audit requirements, and regulatory standards

· Represent Model Risk Management team in interactions with regulatory agencies, as needed

· Support the staffing-up of a local Wealth Management Decision Support models validation team in Baltimore

Firm Risk Management

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.

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 (FRM) team, which is responsible for the Firm's management of risks related to the implementation and use of Wealth Management Decision Support models. This position requires strong risk management mindset and excellent technical, leadership, and organizational skills.

Primary Responsibilities

· 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

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).

Job: *Model Risk

Title: Vice President, Model Risk (Risk Management)

Location: Maryland-Baltimore

Requisition ID: 3254109