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Vice President - Lending Stress Testing (Credit Risk)
Morgan Stanley
New York, NY, United States
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Description
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 cornerstone of Morgan Stanley’s risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley’s capital base and franchise. Risk Management protects the firm from exposure to losses resulting from defaults by our lending and trading counterparties.
Background on the Position
Morgan Stanley seeks a professional with 5-7 years of previous risk management (or related experience, preferably focused on stress testing) as a VP for the Corporate Lending Stress Testing team within the Firm’s Credit Risk Management Department. The successful candidate will be part of a small multi-disciplinary team that encompasses extensive interaction with front office, model developers, operations, audit as well as other control groups.
Primary Responsibilities
• Oversee the execution of portfolio level stress tests, including CCAR/DFAST and Business-as-usual stress tests, on the Firm’s corporate lending portfolio
• Document stress testing processes, procedures and results
• Work closely with model developer, model audit and validation teams to identify and improve weaknesses in stress models
• Create and deliver presentations articulating results to senior management in a timely fashion
• Coordinate as necessary with other functional groups including operations, controllers, risk reporting, regulatory and capital groups
Qualifications
Skills Required (Essential)
Professional Skills
The risk analysis produced by the department is used to brief senior management and needs to be both timely and accurate. It is therefore essential that candidates are able to demonstrate diligence as well as strong quantitative and investigative skills. Attention to detail, project management and prioritization skills will also be key in balancing daily deadlines with timely implementation of strategic projects.
Functional Knowledge
• Experience in process management and documentation.
• Solid understanding of risk management concepts associated with stress testing, including CCAR is ideal.
• Strong proficiency with Word, PowerPoint, Excel VBA and SQL.
• Familiarity with R and Python preferred but not required.
Educational Background
Suitable candidates will have a degree in a quantitative discipline, such as economics, finance, sciences or engineering. Higher degrees or other qualifications, such as an FRM are desirable but not required.