Vice President - Model Risk Governance
- New York, NY, USA
- Permanent, Full time
- Morgan Stanley USA
- 24 Apr 19
Vice President - Model Risk Governance
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 Team
Model Risk Management (MRM) is part of the Global Risk Management Department of Morgan Stanley and is responsible for the independent oversight of models used by Morgan Stanley. These include: derivative pricing (e.g. interest rates, currencies, and commodities), stress testing, fraud identification, liquidity, and machine learning models.
Model Risk Management professionals are primarily located in New York, London, and Budapest, and they work closely with Model Developer, Model Owner, and various persons across the three lines of defense. The team in each location works closely with other members of the Model Risk Management across all model areas globally.
Morgan Stanley is seeking a Vice President to join the Model Risk Governance Team within Model Risk Management. The VP will be responsible for:
· Collaborating with a wide range of senior stakeholders across the Firm on model risk governance
o Identifying and proposing enhancements to the model risk management standards
o Liaising with functional and business leaders to roll out key framework enhancements
· Managing the Firmwide model inventory attestation process
· Writing Firmwide model risk policies, and MRM's procedures
· Representing MRM at various governance forums
· Developing and deliver model risk management trainings to members of MRM and other departments
· Enhancing the Legal Entity Governance Framework
· 5+ years of experience, preferably within Financial Services
· A highly motivated, energetic and proactive individual who takes ownership of his/her tasks and projects
· Experience in management by influence, facilitating and gaining consensus
· Ability to develop strong working relationships
· Outstanding oral and written communication skills
· Exceptional organizational skills and a high degree of attention to detail
· Familiar with FRB's Supervisory Guidance on MRM SR 11-7 and 15-18