Vice President - Quantitative Analytics Group (Model Risk Audit)
Region: Global
Location: New York, NY (Hybrid 4x per week in office)
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.
We are seeking a highly skilled and experienced individual to join our team as a Vice President responsible for providing audit coverage for the Quantitative Analytics Group (Model Risk Audit).
The Internal Audit Division (IAD) drives attention and resources to vulnerabilities by providing an independent and well-informed view and impactful messages about the most important risks facing our Firm. This is accomplished by performing a range of assurance activities to independently assess the quality and effectiveness of Morgan Stanley's system of internal control, including risk management and governance systems and processes. IAD serves as an objective and independent function within the Firm's risk management framework to foster continual improvement of risk management processes. This is a Vice President level position within the Technical Specialist job family, which is responsible for providing extensive subject matter expertise and reinforcing the ability of business and technology audit teams to appropriately assess model risk and model risk management, and determine and execute coverage.
What you'll do in the role:
- Formulate and lead a wide range of assurance activities to assess model risks within coverage area and the state of controls in place to mitigate them
- Audit the model development and validation processes (e.g., review of conceptual soundness, diagnostic testing, implementation and ongoing monitoring) of valuation, risk, capital and liquidity models used for management of Asset Liability Management and Interest Rate Risk in the Banking Book
- Review and challenge work performed by issue owners to remediate internal and external issues related to model risk - Proactively identify risk and emerging risk, and factor into model risk assessment and assurance coverage
- Articulate actionable insights to model developers and Model Risk Management regarding criticality and impact of model risks to the business in order to provide sound oversight and guidance on appropriate model usage and limitations
- Document all work performed in a concise and repeatable manner
- Effectively partner with colleagues and stakeholders globally to drive effective working relationships
- Align projects and initiatives with department and coverage area priorities, and oversee team's execution of deliverables in accordance with audit methodology and quality standards
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What you'll bring to the role:
- Advanced knowledge of Anti-Money Laundering, and Asset Liability Management (ALM) and Interest Rate Risk in the Banking Book (IRRBB)
- Experience in model development and validation and/or audit across ALM and IRRBB models
- Strong knowledge of regulatory expectations, model risk governance, and financial risk management practices
- Strong understanding of audit principles, methodology, tools and processes (e.g., risk assessments, planning, testing, reporting and continuous monitoring)
- Ability to articulate risk and impact clearly and succinctly to different audiences
- Effective change and project management techniques and ability to support teams in adapting new ways of working
- Ability to leverage and analyze data to inform focus and views on risk
- Ability to coach and mentor others and create an inclusive work environment for team
- Masters or PhD in Mathematics, Financial Engineering, Quantitative Finance or hard sciences (e.g., Physics)
- Excellent written and verbal communication skills and strong analytical and problem-solving skills
- Strong interpersonal skills to interact effectively with internal and external stakeholders
- At least 6 years' relevant experience would generally be expected to find the skills required for this role
- Relevant certifications (e.g., CIA, FRM, CRMA, etc.) preferred
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
At Morgan Stanley, we raise, manage and allocate capital for our clients - helping them reach their goals. We do it in a way that's differentiated - and we've done that for 90 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 $135,000 and $202,500 per 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)