Model Risk - Governance - (Risk Management) : Job Level - Vice President
Model Risk Management Governance
Morgan Stanley's Model Risk Management (MRM) department resides within FRM. The MRM Governance Team sets model risk management standards for the Firm globally through policies, policy supplements, procedures, and templates related to models and Tools. In addition, the team performs policy assurance to ensure standards are being applied consistently across the model lifecycle.
This position offers the candidate a unique opportunity to ensure effective and consistent implementation of the model risk management framework covering a set of functional areas, with close interactions with first line model control officers and model developers as well as second line model validators.
Primary Responsibilities
- Assess the implementation of the existing model risk management framework, identify inconsistencies and agree actions to resolve inconsistencies with relevant stakeholders for coverage area.
- Determine and influence enhancements to the framework and drive roll out of framework enhancements in conjunction with first line leaders and senior model validators in coverage area.
- Central point of contact for model risk governance matters for first line model control officers and model developers as well as second line model validators for coverage area.
- Review and challenge first line procedures (Models, Tools and End User Computing (EUCs)) and monthly model oversight committee materials for coverage area.
- Interface with global regulators and Internal Audit and represent MRM Governance in first line governance forums for coverage area. Experience
- Bachelor's or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
- 10+ years of experience from financial institution, consulting firm or in risk management, preferably in an analytical, compliance or regulatory function.
- Experience in implementing a model risk management framework
- Experience with core model risk management regulation requirements (e.g., FRB SR 11-07, SR 15-18, PRA SS1/23)
- (Preferred) Previous experience in model governance, model development and/or independent model validation/review
- (Preferred) Relevant certifications or designations (e.g., CFA or FRM)
Skills
- Ability to influence and execute the vision for MRM Governance globally
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- Pragmatic problem solver and forward thinker
- Ability to prioritize and manage multiple competing objectives
- Strong communicator (verbal and written communication) with good interpersonal skills
- Ability to develop partnerships across functions and geographies
- Detail oriented with exceptional organizational skills
- Advance working knowledge of MS Word, PowerPoint, and Teams
- Self-motivated and team player who brings a can-do approach
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.
To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
Expected base pay rates for the role will be between $120,000 and $205,000 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.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
Perks and Benefits
Health and Wellness
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Short-Term Disability
- Long-Term Disability
- Fitness Subsidies
- On-Site Gym
- Pet Insurance
- Mental Health Benefits
- FSA
- Virtual Fitness Classes
- HSA
Parental Benefits
- Fertility Benefits
- Adoption Assistance Program
- Family Support Resources
- Return-to-Work Program
- Birth Parent or Maternity Leave
- Non-Birth Parent or Paternity Leave
- Adoption Leave
Work Flexibility
- Hybrid Work Opportunities
Office Life and Perks
- Commuter Benefits Program
- Company Outings
- On-Site Cafeteria
- Holiday Events
Vacation and Time Off
- Paid Vacation
- Paid Holidays
- Leave of Absence
- Volunteer Time Off
- Personal/Sick Days
Financial and Retirement
- 401(K) With Company Matching
- Stock Purchase Program
- Performance Bonus
- Relocation Assistance
- Financial Counseling
Professional Development
- Tuition Reimbursement
- Promote From Within
- Mentor Program
- Access to Online Courses
- Lunch and Learns
- Work Visa Sponsorship
- Leadership Training Program
- Associate or Rotational Training Program
- Internship Program
Diversity and Inclusion
- Diversity, Equity, and Inclusion Program
- Employee Resource Groups (ERG)