Wealth Management Risk Model Control Team - Governance Associate/AVP

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 42 countries. Morgan Stanley Wealth Management provides a range of wealth management products and services for individuals, businesses, and institutions. These services include brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement, and trust.

Description

Morgan Stanley Wealth Management Risk group is responsible for overseeing the risk and control framework within the Wealth Management business unit. The group teams with WM and Bank business units as well as the Firm Risk Management group to implement control processes and procedures and protect the firm from exposure to various risks including operational, credit, investment, trading, reputational and model risk. The position will reside within WM Model Risk. The Model Control team oversees the model inventory for all WM models as well as Bank models that impact Morgan Stanley Private Bank, National Association ("MSPBNA"), Morgan Stanley Bank National Association ("MSBNA") (collectively, the "Banks"). The team is responsible for creating relevant policy, procedures and governance structures and participating in the certification and roll-out of models. In addition, the team is responsible for tracking and reporting progress on model specific issues identified by regulators, internal audit and through independent model review. The team works in close collaboration with model developers/owners and the Firm model review and governance teams. In addition, the team is responsible for the governance and inventory of the division's non-model Tools. Tools are quantitative methods and calculations that (1) are separate and distinct from models in that their outcomes are generated by deterministic rules or algorithms, and (2) can cause financial, regulatory, or reputational harm to the Firm as a result of undetected errors.

The applicant should be interested in risk and controls, as well as process oversight and management. Work history should demonstrate strong attention to details, execution and project management skills, and the ability to influence and coordinate within cross-functional teams.

Responsibilities

• Conduct interviews with business partners to add to the inventory of the division's Models and non-model Tools, both End-User Computing (EUC) and system-based

• Manage inventory of Models/Tools through the Firm Tool database (Cluster Seven IMS) and the Firm Model database (MCS)
• Oversee model risk for Bank models, in compliance with the Firm Global Model Risk Management Policy
• Support the execution of the Model/Tool control frameworks which include the periodical update of procedures

• Lead training and create training materials for business partners

• Represent the team and prepare presentation materials for Model/Tool related committees and senior management

• Maintain various reporting dashboards as needed
• Assist with various attestation-related initiatives throughout the year

• Strong organization and time-management skills, with the ability to swiftly transition between projects and tasks

• Ability to work independently, be self-motivated, and have accountability/ownership of projects

• Excellent communication (verbal and written) and interpersonal skills

• Advanced MS Office skills (Excel, PowerPoint, Word)

• Knowledge of Python, SQL or Microsoft Macro/VBA is a plus but not required

• Prior relevant risk management, operational or regulatory experience

• Education: BA or BS