We're seeking someone to join our team as a Senior Model Specialist in Non-Financial Risk to establish strong model governance and promote consistency.
In the Legal & Compliance division, we assist the Firm in achieving its business objectives by facilitating and overseeing the Firm's management of legal, regulatory, operational and franchise risk. This is a Vice President level position within the NFR Data & Analytics, a function in the Legal and Compliance Division that is responsible for designing and optimizing surveillance models, approaches, and tools using advanced analytical techniques like supervised and unsupervised machine learning, and evolving techniques like graph analytics.
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:
> Draft documentation on design of models, establish ongoing monitoring controls in collaborating with quantitative analysts and provide subject matter expertise on model risk to develop, or enhance, models
> Maintain existing models by executing qualitative analyses associated with ongoing monitoring, periodic assessments, and tuning
> Assist with adding, editing and identifying new models, documenting model changes, and reconciling model inventory information
> Perform root-cause analyses associated with potential anomalies detected in model performance or as part of below-the-line testing
> Document, or oversee, the analyses, recommendations, and rationales for each activity related to the models
> Assist in the preparation of periodic and ad hoc reports for senior management, and regulators
> Track and report model changes and results of model tuning and optimization activities to LCD advisory heads, the Model Risk Management, and the Internal Audit groups
> Draft and update policies and procedures, as needed
What you'll bring to the role:?
At least 8 years' relevant experience would generally be expected to find the skills required for this role
> Bachelor's degree in a related field.
> Expertise in model risk management, particularly model governance, including a strong understanding of Fed SR 11-7/ OCC Bulletin 2011-12 on Model Risk Management
> Understanding of model development, maintenance, and remediation, including for Artificial Intelligence and Machine Learning models
> Strong written, interpersonal communication, and presentation skills
> Understanding of financial crimes and compliance models as well as financial markets and banking in general.
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-officesinto your browser.
Expected base pay rates for the role will be between $120,000 and $205,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
