Model Risk Management (IRB), Vice President

Model Risk Management (IRB) Vice President
London
JR025999

This role resides within Firm Risk Managements Model Risk Management Department which provides independent model risk control review and validation of models used by Morgan Stanley. These include derivative pricing models utilized across product areas including interest rates currencies commodities equities credit and securitized products. This is in addition to oversight of models used to monitor counterparty credit risk (CVA/IMM) credit risk (IRB) market risk (IMA) operational risk capital and liquidity stress tests.

Model Risk Management (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 London team works collaboratively with members of Model Risk Management across all model areas globally.

Firm Risk Management (FRM) supports Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit market liquidity operational model and other risks.

About Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking securities investment management and wealth management services.

As a market leader the talent and passion of our people is critical to our success. Together we share a common set of values rooted in integrity excellence and strong team ethic. We can provide a superior foundation for building a professional career a place for people to learn to achieve and grow. A philosophy that balances personal lifestyles perspectives and needs is an important part of our culture.

What will you be doing
Conduct model validation for Internal-Risk-Based (IRB) models predominantly wholesale IRB by challenging model assumptions mathematical formulation and implementation
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
Develop high-quality validation reports highlighting risks and limitations of models and communicate findings to stakeholders senior management.
Collaborate with Global MRM teams Developers Model Control Officers Credit and Capital Teams and Risk Managers to manage model risk across the model lifecycle
Cultivate and manage effective relationships with regulators by providing accurate and timely submissions
Manage a team of reviewers and/or IRB-specific projects

What were looking for:
Masters or Ph.D. degree (or equivalent) in Finance Economics Mathematics Physics Engineering or a related quantitative field
In-depth knowledge of mathematical finance or Statistics and numerical techniques
Minimum of 5 years of relevant model risk management and/or quantitative modelling experience
Experience with IRB models wholesale retail and securitization gained at a financial institution (preferred)
Understanding and ideally working knowledge on Internal-Based Rating (IRB) models such as PD LGD EAD Stress testing IFRS9
Experience of developing risk models using Python and R

Skills that will help you in the role:
An interest in working in a fast-paced environment often balancing multiple high priority deliverables
The ability to communicate effectively with a wide range of stakeholders both written and verbally

Where will you be working
This role is based in 20 Bank Street London.

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 thats differentiated and weve 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 - arent just beliefs they guide the decisions we make every day to do whats best for our clients communities and more than 80000 employees in 1200 offices across 42 countries. At Morgan Stanley youll 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. Theres also ample opportunity to move about the business for those who show passion and grit in their work.

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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 opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds talents perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting developing and advancing individuals based on their skills and talents.