Morgan Stanley
Model Risk (Risk Management) - Associate
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Model Risk Specialist - Traded Risk, IMM Focus
We’re seeking someone to join our team as a Model Risk Specialist - Traded Risk, IMM Focus to the Model Risk Management team.
Firm Risk Management
In the Firm Risk Management division, we advise businesses across the Firm on risk mitigation strategies, develop tools to analyse and monitor risks, and lead key regulatory initiatives.
Background on the Position
This role resides within FRM's Model Risk Management (MRM) Department, which provides independent model risk control, review, and validation of models used by Morgan Stanley. These include models used to monitor market risk (IMA), counterparty credit risk (XVA/IMM), credit risk (IRB), operational risk, capital and liquidity stress tests, as well as valuation models. This specific role is providing coverage for the IMM modelling area.
MRM professionals in New York, London, Budapest, Frankfurt, Mumbai, and Tokyo work closely with business quantitative strategists, risk analytics, risk managers, and financial controllers. The members of the IMM coverage team work collaboratively with members of Model Risk Management across all model areas globally.
Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.
What you'll do in the role:
- Conduct model validation for IMM models by challenging model assumptions, mathematical formulation, and implementation
- Develop GenAI and Agentic AI solutions to automate model testing, streamline validation workflows, and enhance efficiency within Model Risk Management, with a strong interest in adapting to emerging AI technologies
- Conduct independent testing to assess model accuracy and robustness under different scenarios and market conditions
- Assess and quantify model risks due to model limitations and develop compensating controls
- Highlight risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees
- Collaborate with Global MRM teams, Model Control Officers, Valuation Control, and Risk Managers to manage model risk across the model lifecycle
- Assist in cultivating and managing effective relationships with regulators by providing accurate and timely submissions
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What you'll bring to the role:
- Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field
- In-depth knowledge of mathematical finance, derivative pricing, and numerical techniques
- The ideal candidate has strong experience with valuation models or Counterparty Credit Risk models gained at a financial institution
- Working experience of 5+ years, including relevant experience of 3+ years’
- Experience developing pricing and risk models using Python, R, or C++ is a plus
- The ability to effectively communicate with a wide range of stakeholders, both written and verbally
- An interest in working in a fast-paced environment, often balancing multiple high priority deliverables
FRM is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views.
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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.
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To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
Certified Persons Regulatory Requirements:
If this role is deemed a Certified role and may require the role holder to hold mandatory regulatory qualifications or the minimum qualifications to meet internal company benchmarks.
Flexible work statement
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.
Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.
Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.
For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo
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