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E*TRADE from Morgan Stanley · 4 days ago

Model Risk (Risk Management) : Job Level - Executive Director

New York, New York, United States of America

Full-time

Onsite

Senior Level, Lead/Staff

$165K/yr - $275K/yr

10+ years exp

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, and wealth management services. They are seeking an Executive Director for Model Risk within their Firm Risk Management team, responsible for managing model risks related to valuation, risk, and stress testing models. The role involves leading a team, assessing risks, and driving changes in model risk governance.

BankingFinanceFinancial Services

Responsibilities

Lead a team of quantitative experts to assess risks and conduct reviews of exotic equity derivatives valuation models. Ensure the timely delivery of thorough review work in accordance with model risk management policies and procedures, as well as regulatory guidance

Identify, measure, communicate and decide on significant model risk issues in the coverage area. This includes model usage in the firm's books & records, risk management, downstream capital model inputs, P&L attribution, and stress loss calculations

Partner with model owners and developers to better understand and address model limitations

Review and identify any model usage gaps on new products, new business initiatives and new material exposures

Drive changes through clear and collaborative decision making to enhance model risk governance

Provide accurate information on both the existing model inventory and any changes to it

Qualification

Model validationDerivatives pricing modelsQuantitative analysisStakeholder managementTeam managementIndependent thinkingCommunication skillsFast-paced environment

Required

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

At least 10 years of strong experience in derivatives pricing models, gained in a quantitative model development or validation role at a financial institution (and preferably, in an equity derivatives business)

Experience in advancing ideas and challenging complex mathematical models, where appropriate

Strong stakeholder management skills and team management experience

Experience managing quant teams and stakeholders in a global setting is a plus

The ability to effectively and clearly communicate with a wide range of stakeholders, both in writing and verbally

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