Market Risk COO – Vice President
- New York, NY, USA
- Permanent, Full time
- Morgan Stanley USA
- 21 Apr 19
Market Risk COO – Vice President
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
· S trategic 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
The role will reside within the Firm Risk Management's Market Risk Chief Operating Office (COO) team, based in New York. The Market Risk Department (MRD) provides independent risk management oversight across trading and investment activities conducted by the Firm. Market Risk COO is a key component of the MRD, responsible for management of regulatory deliverables, and monitoring execution of MRD strategic initiatives. The Function is a central point of contact for a wide range of stakeholders.
This role involves a diverse range of risk management responsibilities, including the execution of key MRD control initiatives such as independent substantive end to end sample testing for Comprehensive Capital Analysis and Review ("CCAR"), and pursuit of improvements in overall MRD control environment; as well as presentation of risk information to a variety of audiences. Collaboration with various teams across the Risk Department, including Risk Managers, Stress Testing, Capital, Risk Technology, and other control groups is a key feature of the role.
To be successful, candidates will possess relevant experience, a strong desire to learn, and the ability to produce detailed and accurate risk analyses for senior management and regulators, often under tight timelines. It is essential that candidates are able to demonstrate diligence as well as strong process orientation and investigative skills.
· Substantive end to end testing for a sample of transactions, position, and attributes reported in CCAR Schedule F
· Identify areas for improvement in MRD control process such as the Risk Control Self Assessments, Board Effectiveness etc.
· E stablish governance and tools to enhance reporting processes for control improvements
· Engage Risk Coverage, Middle Office, Front Office and Finance to identify and resolve risk issues impacting MRD
· Create and deliver presentations to articulate key risks to senior management
· Lead projects, coordinate ad-hoc analysis, and serve as a key point of contact across market risk stakeholders
· Self-motivated, adaptable, strong attention to detail and desire to assume extended responsibility
· Willingness to question established processes and ability to provide vision to improve and build processes
· Strong interpersonal skills with the ability to establish effective relationships with the risk managers and external groups
· Strong oral and written communication skills to prepare and present risk information to a variety of audiences
· Ability to manage multiple projects and deliverables simultaneously, consistently meeting deadlines
· Strong proficiency with PowerPoint, Excel, etc.
· Minimum of 5 years of experience in financial services, including exposure to risk management is required
· Prior managerial experience is preferred