Associate - Model Risk Management, Securitized Products and Wealth Management

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

Associate - Model Risk Management, Securitized Products and Wealth Management

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
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.
Our mission is to serve as the follow roles:
· Independent agent to set consistent principles and disciplines for risk management
· Strategic advisor to Firm management for setting risk appetite and allocating capital
· Industry leader to influence and meet regulatory standards
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:
ü Flat, flexible and integrated global organization
ü Collaboration and teamwork
ü Credible, independent decision-making
ü Organizational influence
ü Creative and practical solutions
ü Meritocratic and diverse culture
Background on the Position
Morgan Stanley is seeking a strong candidate to join its Model Validation group within Model Risk Management (MRM). The Model Risk Management (MRM) plays a pivotal role in the development and maintenance of an effective model risk management framework across the firm which has received heightened focus from senior management and our regulators. Currently, the Model Validation group has an opening for a highly motivated individual to provide support for the Bank Model Risk Officer in a variety of highly visible projects. This individual will work closely with the various groups within the firm, including but not limited to model owners in front office, risk managers, etc.

Primary Responsibilities
· Contribute to the identification, assessment, and monitoring of Bank Model Risk
· Assist with MRM's contributions to the Bank Risk Committee, the Bank Board Risk Committee, the Firm Model Oversight Committee, and other Working Groups and Committees by preparing presentations and tracking deliverables and follow up items
· Ensure that model validations account for bank-specific risks, where appropriate
· Work on ad hoc Bank Model Risk projects and analyses


Skills Desired
· Experience with CCAR/DFAST and capital planning
· Experience drafting C-level presentations
· Experience writing and editing model documentation or model review documents
· Knowledge of statistics and data analysis
Skills Required (Essential)
· Experience working in model risk, model control, or similar function
· Experience with bank products such as: residential mortgages, CRE, wholesale lending, and deposits
· Good organizational skills
· Microsoft Office (Excel, Word, Powerpoint)
· Team player with strong interpersonal and communication skills
· Bachelor's Degree (Minimum)