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Vice President - Model Risk Management Analysis and Reporting
Morgan Stanley
New York, NY, United States
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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 Position
The role will reside within the Firm Risk Management’s Model Risk Management (MRM) function which covers a broad array of areas including the Firm’s model risk governance framework, model validations, project management of regulatory initiatives, model risk analysis and reporting, and Firm-wide policies and procedures related to model risk processes.
Primary Responsibilities
• Generate reporting data files from various data sources, ensure data reconciliation, data quality, relevancy and accuracy of the output
• Produce model risk metrics/reports on a monthly basis for senior management meetings as well as to the Model Oversight Committee, Firm Risk Committee, and Board Risk Committee
• Support model risk governance in the preparation of the materials for the internal committees, management reporting and various ad hoc queries (internal audit, regulators etc.) and the execution of various reporting projects in compliance to policy, governance, and regulatory requirements
• Work closely with model validators to understand the results of model validation activities, model limitations and uncertainties and facilitate limitation closure verification process
• Collaborate with cross functional stakeholders to ensure that model risk is reported accurately, timely, and transparently
• Support execution of MRM projects/initiatives to drive effectiveness and efficiency such as design, development and maintenance of model risk reporting platform and dashboards for internal monitoring and senior management reporting purposes (streamline the existing reporting process and tools)
Qualifications
Skills Required
• Team-oriented, motivated, adaptable and flexible self-starter who is able to perform effectively on multiple projects under tight deadlines in a fast-paced, results driven environment
• Strong analytical thinking and problem solving abilities with extreme attention to detail and exceptional organizational skills supported by outstanding written and verbal communication skills
• Ability to generate support from a wide range of stakeholders and create a strong network among peers
• Intellectual curiosity and willingness to learn with a focus on information sharing
• Proficiency in MS Office and related applications (PowerPoint, Excel, Word); basic VBA and SQL skills
Skills Preferred
• Familiarity with financial modeling (e.g., probability theory, statistics, numerical analysis) and risk management
Experience
• Minimum 5 years of experience in consulting or complex financial institution with good understanding of the business, financial products and the market (Required)