Risk Management, Model Risk Management, Vice President
London
JR010293
Morgan Stanley's Model Risk Management (MRM) department resides within FRM. Model Risk is the risk of adverse consequences resulting from decisions based on incorrect or misused models. Model Risk Management is a Model Validation function that is responsible for independently reviewing models are compliant with standards (internal, SR 11-7, PRA SS 1/23, etc.)
This position offers the candidate a unique opportunity to engage in and drive MRM related governance, regulatory, reporting and COO activities for EMEA, with close interactions across numerous stakeholders within Business and Control functions, reporting directly to the Global Head of MRM (who is located in London).
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?
- Partner with a wide range of stakeholders across EMEA on model risk governance and framework initiatives and roll out key model risk management framework enhancements to remediate issues that have been identified
- Manage process of regulatory exams/requests and supervisory meetings related to MRM in EMEA, including review and challenge of content and preparation of regulatory reporting materials
- Influence and engage with appropriate stakeholders in the design of regulatory and/or Internal Audit remediation plans related to MRM in EMEA
- Support the preparation of MRM related materials and KRIs for EMEA specific legal entities and committees
- Work closely with the EMEA Risk CAO team to ensure EMEA MRM compliance with relevant regional and global Outsourcing requirements
- Coordinate, review & challenge EMEA MRM inputs to department-wide processes including, but not limited to: RSCA/Non-Financial Risk Assessments, Business Continuity Plans, remediation plans for Operational Risk Incidents, quarterly updates to EMEA FRM Business Plans
What We’re Looking For
- Bachelor's or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
- 10+ years of experience from financial institution, consulting firm or in risk management, preferably in an analytical, compliance or regulatory function
- Experience with/understanding of core model risk management regulations (specifically FRB SR 11-7 and PRA SS1/23) and related governance requirements
- Confidence and ability to take ideas forward and to challenge others, where appropriate, with experience in management by influence, facilitating and gaining consensus
- Pragmatic problem solver and forward thinker
- Ability to prioritise and manage multiple competing deliverables
- Excellent verbal and written communication skills
- Strong communicator with good interpersonal skills
- Ability to develop partnerships across functions and geographies
- Detail oriented with exceptional organizational skills
- Advanced working knowledge of MS Word, PowerPoint, Excel and Teams
- Self-motivator and team player who brings a can-do approach
Skills That Will Help You In The Role
- Previous experience in model development and/or independent model validation/review (preferred)
- Relevant certifications or designations e.g. CFA/FRM/PMP (preferred)
- Previous experience in a COO/CAO function, especially in relation to operational risk-type processes, outsourcing and other Risk-related governance processes (preferred)
Where will you be working?
This role is based in 20 Bank Street, London.
What You Can Expect From Morgan Stanley
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 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.
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 t his 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.
