Vice President - Finance Model Control Officer
- New York, NY, USA
- Permanent, Full time
- Morgan Stanley USA
- 20 Oct 18
Vice President - Finance Model Control Officer
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.
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 Firm's books and records, and by contributing to firm-wide risk management and risk reduction. This division maintains relationships with Morgan Stanley's 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 Stanley's various businesses and its senior management team.
The Financial Control Group (FCG) is responsible for overseeing the accounting and financial and regulatory reporting for the Firm. FCG prepares external financial reports for public filings and regulators. For internal reporting FCG, along with Financial Planning and Analysis (FPA), summarizes, plans and forecasts the organization's financial position, including income statements, balance sheets, and analyses of future revenues, expenses and earnings. FCG is comprised of Business Unit Controllers, Infrastructure Controllers, Accounting, Regulatory and Reporting groups, and Valuation Review.
For internal reporting FCG, along with Financial Planning and Analysis (FPA), summarizes, plans and forecasts the organization's financial position, including income statements, balance sheets, and analyses of future revenues, expenses and earnings. FCG is comprised of Business Unit Controllers, Infrastructure Controllers, Accounting, Regulatory and Reporting groups, and Valuation Review.
Background on the Position:
The role will reside within the Finance Division, under the Finance Risk and Information Security and Control group (FinRISC) function. The Model Control Officer (MCO) oversees the model inventory for all Finance (excluding Treasury and Capital) models globally, relevant policy, procedures and governance processes as it pertains to model risk controls. In addition the team is responsible for tracking and reporting progress on model specific issues identified by regulators, internal audit and through independent model review.
This candidate will be exposed to model requirements across several U.S. and International regulatory requirements such as , including those that are used in CCAR/DFAST, Basel 2.5, Basel III, Advanced Approaches, Resolution and Recovery (RRP), CECIL, etc.
This dynamic position offers the candidate an exceptional opportunity to lead the enhancement of the existing Model Control framework within the Finance organization. This is a unique opportunity to work across all the Finance division globally, provides close interaction with both model developers and independent model reviewers as well as interaction across business and functional areas (departments) across the firm. This high exposure role will provide the candidate a fast pace work environment with the ability to influence the Finance Model Control Frameworks.
We are looking for a strong and seasoned Vice President. Prior risk management, governance, regulatory, CCAR/DFAST, model risk experience would be a strong plus. The applicant should be interested in process oversight and management, as well as possess the technical aptitude to perform in-depth quantitative analysis. Work history should demonstrate strong attention to detail, execution and project management skills, the ability to influence and coordinate within cross-functional teams and manage multiple projects.
Responsibilities will include:
- Manage the Finance Model Control framework for global Finance (excluding Treasury and Capital)
- Identify and maintain inventory of all models developed and used within Finance
- Monitor documentation status to ensure completion and manage broader model certification and exception process
- Support the execution of the model control frameworks for all Finance models including appropriate governance, documentation standards and policies and procedures
- Prepare presentation materials for model committees and applicable regulatory exams and requests, ensuring accuracy and timely delivery
- Lead the production of reporting for senior management related to Finance model risk
Skills Required (essential):
- Detail oriented with exceptional organizational skills
- Ability to work effectively on multiple projects under tight deadlines
- Advanced working knowledge of MS Excel, PowerPoint, Word, and SharePoint
- Superior analytical thinking and problem solving abilities
- Excellent verbal and written communication skills, with the ability to communicate with key stakeholders and Senior Management
- Intellectual curiosity with a focus on information sharing
- Leadership and strong relationship building skills
- Self-motivator and team player who brings a can-do approach *LI-ND1