Model Risk (Risk Management) : Job Level - Vice President

About this role

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. The Firm’s employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.   The talent and passion of our people is critical to our continued success as a firm. Together, we share four core values rooted in integrity, excellence and strong team ethic: Putting Clients First Doing the Right Thing Leading with Exceptional Ideas Giving Back Committing to Diversity and Inclusion   Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.   Firm Risk Management Firm Risk Management (FRM) enables 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.   You will collaborate with colleagues across FRM and the Firm to protect the Firm’s capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication, we are best able to bring our ideas to the table and improve the Firm.

Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees. Firm Risk Management’s unique franchise promotes:   • Flat, flexible and integrated global organization • Collaboration and teamwork • Credible, independent decision-making • Organizational influence • Creative and practical solutions • Meritocratic and diverse culture

Leading with Exceptional Ideas Giving Back Committing to Diversity and Inclusion   Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.   Firm Risk Management Firm Risk Management (FRM) enables 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.   You will collaborate with colleagues across FRM and the Firm to protect the Firm’s capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication, we are best able to bring our ideas to the table and improve the Firm. Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees. Firm Risk Management’s unique franchise promotes:   • Flat, flexible and integrated global organization • Collaboration and teamwork • Credible, independent decision-making • Organizational influence • Creative and practical solutions • Meritocratic and diverse culture

Background on the Position This role will reside within Firm Risk Management's Model Risk Management team, which has global responsibility for the independent control, review, and validation of models used across the Firm. In addition to traditional quantitative methodologies, MRM also reviews models based on artificial intelligence and machine learning, including Generative AI solutions. This role is responsible for the validation of commodities pricing models and tools. This position requires strong risk management mindset, proven subject matter expertise in commodities pricing models development and validation, and excellent technical, leadership, and organizational skills. MRM professionals are based in major financial centers worldwide, including New York, London, Budapest, Frankfurt, Mumbai, and Tokyo, and work closely with business units, capital and risk analytics teams, risk managers, and financial controllers. The New York team collaborates closely with colleagues across the global Model Risk Management organization on model related issues spanning all asset classes.

Primary Responsibilities -Understand the use and effectiveness of models and tools within the context of relevant Firm businesses and processes. Perform independent model and tool validation of complex, state of the art pricing models used by Morgan Stanley's Fixed Income businesses - particularly within Commodities Trading-for daily valuation and risk management of trading positions. -Evaluate whether model and tool documentation meets established firmwide standards and policy requirements, and whether model testing is sufficiently robust to assess model performance, limitations, and risks. -Assess conceptual soundness and fitness for purpose of models and tools, ensuring that key assumptions and limitations are clearly identified, well understood, and appropriately controlled. -Conduct independent quantitative testing and verify that ongoing model performance monitoring frameworks are adequate and consistently applied. -Proactively identify, assess, and escalate thematic and idiosyncratic model and tool risk themes. Engage with 1LOD and 2LOD stakeholders to develop effective solutions to manage model and tool risks including evolving the model risk management practices such as performance monitoring and change management -Communicate model and tool review conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial

Similar jobs

• Model Risk Management Lead, Machine Learning — Affirm · Remote
• Technology Risk Management - Control Officer; VP — MUFG · New York, NY
• Director Product Management - Risk Management — Centivo · Remote
• Business Risk Manager, Assistant Vice President — State Street · Irvine, California | Quincy, Massachusetts
• Risk Management - Executive Assistant — Morgan Stanley · New York, New York, United States
• Senior Manager, Risk Management — Nissan · Franklin, Tennessee - United States of America
• Senior Manager, Risk Management — Carrier · CAF77: CCS - CIB, 13995 Pasteur Boulevard, Palm Beach Gardens, FL, 33418 USA
• Product Manager, Risk Management — Hyperproof · Remote