Model Risk (Risk Management) : Job Level - Associate

Primary Responsibilities

• Conduct model validation for market risk and credit risk RWA (Risk Weighted Assets) models used under forecasting for CCAR and other regulatory stress testing guidelines.
• Challenging model assumptions, mathematical formulation, and implementation.
• Develop independent testing ideas and framework to assess model accuracy and robustness under different scenarios and market conditions for the Models.
• Contribute to development and independently review existing monitoring and quantify model risks due to model limitations including developing compensating controls.
• Develop high-quality validation reports highlighting risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees.
• Collaborate with Global MRM teams, Model Control Officers, Regulatory Capital Controllers, Finance and Risk Managers to manage model risk across the model lifecycle.
• Assist in cultivating and managing effective relationships with regulators by providing accurate and timely submissions.

Requirements

• Masters (or equivalent) in Finance, Economics, Mathematics, or a related quantitative field is required.
• Experience with understanding of credit risk or market risk gained at a financial institution is required.
• 2+ years of relevant working experience with validation, development or finance and change management function is required.
• Knowledge of financial products and regulatory rules capital framework (SA-CCR, FRTB and Basel III rules) is a plus.
• Experience on Regulatory Capital with CCAR and other supervisory stress testing is a plus.
• The ability to effectively communicate with a wide range of stakeholders, both written and verbally is required.
• The ability to partner and work effectively both with team members and with colleagues across the wider organization is required.
• An interest in working in a fast-paced environment, often balancing multiple high priority deliverables with high attention to detail attitude is required.
• Experience developing model testing for risk or capital models with IT implementation using Python, R or Alteryx and Excel VBA is a plus.

Qualifications

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.

Skills

Understanding of credit risk or market risk gained at a financial institution.

Benefits

Base pay rates for the role will be between $100,000 and $140,000 year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Pay

Base pay rates for the role will be between $100,000 and $140,000 year at the commencement of employment.

Schedule

Not specified.