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Model Risk - Equities Validation: Executive Director
Model Risk - Equities Validation: Executive DirectorMorgan Stanley • New York, NY, US
Model Risk - Equities Validation : Executive Director

Model Risk - Equities Validation : Executive Director

Morgan Stanley • New York, NY, US
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Morgan Stanley Firm Risk Management Position

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 (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 responsible for the Firm's management of model risks related to the implementation and use of valuation, risk, and stress testing models and tools. This position requires strong risk management mindset, proven subject matter expertise in financial crime regulatory requirements and model validation, and excellent technical, leadership, and organizational skills.

    Primary Responsibilities :

  • Lead a team of quantitative model reviewers to conduct initial and periodic reviews of exotic equity derivatives valuation models. Ensure the timely delivery of thorough review work in accordance with regulatory requirements and model risk management policies and procedures.
  • Identify, measure, communicate and decide on significant model risk issues in the coverage area. This includes model usage in the firm's books & records, risk management, downstream capital model inputs, P&L attribution, and stress loss calculations.
  • Partner with model owners and developers to better understand and address model limitations.
  • Review and identify any model usage gaps on new products, new business initiatives and new material exposures.
  • Drive changes together with risk managers through clear and collaborative decision making to enhance model risk governance.
  • Provide accurate information in compliance with regulatory requirements on both the existing model inventory and any changes to it.
  • Required Experience :

  • Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field.
  • The ideal candidate should have at least 10 years of strong experience in derivatives pricing models, gained in a quantitative development or validation role at a financial institution (and preferably, in an equity derivatives business).
  • Experience in advancing ideas and challenging complex mathematical models, where appropriate. The ideal candidate should be able to manage through influence, facilitating and gaining consensus.
  • Strong stakeholder management skills and team management experience. Experience managing quant teams and stakeholders in a global setting is a plus.
  • The ability to effectively communicate with a wide range of stakeholders, both in writing and verbally.
  • An interest in working in a fast-paced environment, often balancing multiple high priority deliverables.
  • 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.

    Expected base pay rates for the role will be between $165,000 and $275,000 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).

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    Validation Director • New York, NY, US

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