Associate - Model Risk Management

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Morgan Stanley USA
  • 14 Oct 18

Associate - Model Risk Management

Company Profile
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.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Department Profile
The cornerstone of Morgan Stanley's risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley's capital base and franchise. Risk Management protects the firm from exposure to a variety risks including market, operational, credit, liquidity and model risks. Model Risk Management 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.

Primary Responsibilities

  • Develop independent assessment and risk management of capital planning models used in Treasury CCAR and RRP processes, including PPNR models.
  • Provide business and analytic assessment for true model risk management including on-going monitoring of model risk relative to changing market and credit conditions. Must follow financial markets and business trends on a frequent basis.
  • Write model risk management findings in technical documents that will be presented both internally (model developers, business unit managers) as well as regulators including FRB and OCC as part of CCAR/DFAST.
  • Verbally communicate results and debate issues, challenges and methodologies with internal audiences including senior management.
  • Present results to regulators.


Qualifications:

Skills Required (essential)
  • Masters or Doctorate degree in a technical or finance-related area such as Finance, Financial Engineering, Computational Finance, Mathematical Finance, Math/Statistics, Computer Science, Physics or related fields.
  • Exposure to and experience in financial markets, products and businesses.
  • 0-2 years of work experience in a bank or buy-side institution.
  • Familiarity with essential quantitative techniques used in financial and econometric models.
  • Strong written and verbal communication skills. Must be comfortable leading meetings and making formal presentations.
  • Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative and market-oriented knowledge and skills.