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Morgan Stanley · 1 day ago

Model Risk (Risk Management) : Job Level - Associate

New York, NY

Full-time

Onsite

Entry Level

$100K/yr - $140K/yr

3+ years exp

Morgan Stanley's Firm Risk Management Division is an exciting and rapidly growing space. The role involves performing independent reviews and validations of the firm's stress testing models and providing effective challenges to model conceptual soundness.

Asset ManagementFinanceFinancial ServicesLending

Responsibilities

Perform independent review and model validation for the firm's stress testing models for CCAR and BAU stress testing, CECL/IFRS9 models for reserve

Provide effective challenge to the model conceptual soundness, perform independent tests, write comprehensive validation documentation for models validated

Develop challenger model methodologies for the official production models

Effectively communicate model validation conclusions to management - 3+ years' in relevant risk management experience including model risk management and risks analytics preferred

Working knowledge of statistical techniques, quantitative finance and programming is essential; good understanding wholesale lending and retail lending business is preferred

Prior experience with developing or validating models is a plus

Strong written and verbal communication, critical thinking, problem solving and team collaboration skills

Familiarity with coding languages (Python preferred)

Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative, and market-oriented knowledge and skills preferred

Qualification

Model validationStatistical techniquesQuantitative financePythonRisk management experienceCritical thinkingProblem solvingTeam collaborationWritten communicationVerbal communication

Required

Perform independent review and model validation for the firm's stress testing models for CCAR and BAU stress testing, CECL/IFRS9 models for reserve

Provide effective challenge to the model conceptual soundness, perform independent tests, write comprehensive validation documentation for models validated

Develop challenger model methodologies for the official production models

Effectively communicate model validation conclusions to management

Working knowledge of statistical techniques, quantitative finance and programming is essential

Strong written and verbal communication, critical thinking, problem solving and team collaboration skills

Preferred

3+ years' in relevant risk management experience including model risk management and risks analytics

Masters or Doctorate degree in a quantitative discipline such as Statistics, Mathematics, Physics, Computer Science or Engineering

Good understanding wholesale lending and retail lending business

Prior experience with developing or validating models

Familiarity with coding languages (Python)

Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative, and market-oriented knowledge and skills