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    Model Risk Management - London, United Kingdom - Morgan Stanley

    Morgan Stanley
    Morgan Stanley London, United Kingdom

    1 week ago

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    Description

    Job Description

    Job Number: Job Number:

    Posting Date Posting Date

    : Apr 21, 2024

    Primary Location Primary Location

    : Europe, Middle East, Africa-United Kingdom-United Kingdom-London

    Education Level : Master's Degree

    Job

    Employment Type : Full Time

    Job Level : Vice President

    Description

    Firm Risk Management (FRM) supports 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.

    This role resides within FRM's Model Risk Management Department which is dedicated to providing independent model risk control, review and validation of models used by Morgan Stanley. These include derivative pricing models utilized across product areas including interest rates, currencies, commodities, equities, credit, and securitized products. This is in addition to oversight of models used to monitor counterparty credit risk (XVA/IMM), credit risk (IRB), market risk (IMA), operational risk, capital and liquidity stress tests.

    Model Risk Management (MRM) professionals in New York, London, Budapest, Frankfurt, Mumbai and Tokyo work closely with business quantitative strategists, risk analytics and risk managers. The London team works collaboratively with members of Model Risk Management across all model areas globally.

    About Morgan Stanley

    Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.

    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. We 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.

    What will you be doing?

    · Lead Model Validation activities for the IMM model suite, including prioritization of the Book of Work for the team

    · Conduct independent testing to assess model accuracy and robustness under different scenarios and market conditions, including, where appropriate the evaluation of developer documentation and testing

    · Assess, quantify and communicate to stakeholders model risks due to model limitations and compensating controls

    · Develop and apply high-quality validation standards by conducting independent testing to assess model accuracy and robustness under different market conditions

    · Highlight risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees

    · Collaborate with Global MRM teams, Global Risk Analytics teams, Model Control Officers and Risk Managers to manage model risk across the model lifecycle

    · Participate in developing effective relationships with the internal/external auditors by providing accurate and timely submissions, including proactive participation in regulatory meetings

    · Create concise and effective presentations for senior management and regulator-ready materials

    Qualifications

    What we're looking for:

    · Masters or Ph.D. degree (or equivalent) in Finance, Mathematics, Physics, or a related quantitative field

    · The ideal candidate has strong experience with counterparty credit risk modelling framework gained at a financial institution, including experience facing regulatory requests

    · The ability to effectively communicate with a wide range of stakeholders (incl. senior management and internal/external auditors), both written and verbally

    · Proven experience in managing a small team of quants

    · Confidence to take ideas forward and to challenge others, where appropriate, with experience in management by influence, facilitating and gaining consensus

    · An interest in working in a fast-paced environment, often balancing multiple high priority deliverables

    Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.

    Equal opportunities statement:

    Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.

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