Market Risk Controller

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

Market Risk Controller

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 Finance Division reports to the Chief Financial Officer and consists of some 3,000 employees worldwide. Finance protects the Morgan Stanley franchise by serving as guardian of the Firms books and records, and by contributing to firm wide risk management and risk reduction. This division maintains relationships with Morgan Stanleys various industry and government regulators, and also serves as the conduit of financial information to the outside investment community. Finance plays a critical role as advisor to Morgan Stanleys various businesses and its senior management team.

Responsibilities:
Global Corporate Controllers (GCC) provides Business Planning and Client Support, Impact and Scenario Analysis, Balance Sheet and Capital Reporting, and Market Risk/ Credit Risk Control. This role is in support of the Market Risk Control (MRC) function within GCC.

MRC is responsible for a series of controls designed to ensure the completeness and accuracy of the risk data used within Morgan Stanleys Market Risk Capital calculations (e.g. Value at Risk calculation) and for executing testing designed to help assess the ongoing validity of the firms Market Risk models. Given this broad remit, Market Risk Controllers work closely with a wide range of clients and stakeholders globally across Product Controllers, the Market Risk Department, Regulatory Controllers, Accounting policy and the Business Unit. This breadth of interaction provides an excellent and somewhat unique opportunity to learn about a range of businesses and products across the organization. Market Risk Controllers have a footprint in New York, Glasgow, Japan and Mumbai and comprises the following core functions:

- Fixed income and Equity risk control
- Covered Position (Banking/Trading) Governance and PMO (BTI)
- Regulatory Backtesting
- Regulatory Reporting i.e., Volcker Metrics

We are looking to hire an Associate to fill an opening that has recently developed and will focus on Regulatory Backtesting & Volcker Regulatory Reporting. Based on performance & skillset there will be opportunities to gain exposure across the other functions within the group. This is an exciting opportunity which will offer the successful candidate a unique insight into many of Morgan Stanleys key businesses, products and more widely the market risk regulatory framework. This is a demanding, fast paced role requiring interaction with various teams/functions/clients globally and will combine elements of BAU control and reporting as well as project work.

- Generate accurate & timely reports for senior clients on daily/weekly basis.
- Prepare and maintain weekly/monthly risk metrics
- Partner with IT and other groups to facilitate resolution of issues
- Interpret policies and advise clients on capital indicators.
- Ensuring that assigned projects are delivered on time and any issues escalated proactively.
- Work with wider team/other teams on new regulations / policies impacting firms regulatory requirements.
- Develop and maintain relationships with a range of clients/stakeholders including GPC, Regulatory Controllers, Business Unit, Risk Management, Operations.
- Develop an understanding of the various products and businesses for which we provide support.
- Partner with wider MRC team both locally and globally on cross silo initiatives/projects
- Maintain functional policies and procedures
- Appropriately escalate risk issues to local management
- Provide ad-hoc analytical support to clients

Qualifications:

- 2-3 years' experience in product control / Basel regulations / risk-based capital guidelines / project management and/or market risk reporting
- Good communication and analytical skills are essential. In particular the ability to effectively communicate with senior clients.
- Intermediate Excel (including pivots and formulae) and general MS Office skills desirable
- High level of guardianship the candidate should be very focused on guardianship and ensuring that exceptions are identified, resolved and escalated on a timely basis.
- Ability to make decisions under pressure and justify those decisions
- Ability to meet tight reporting deadlines, manage time and prioritize effectively
- High level of organizational skills
- Candidate must be able to work well within a local and global team environment.

Skills desired:
- An interest and awareness of financial markets and products
- Prior experience within Financial services, particularly with product controller, regulatory or related functions
- An awareness of the Market Risk regulatory framework (e.g. Basel framework)
- A degree in Finance/Accounting/ Mathematics/Engineering