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E*TRADE from Morgan Stanley · 3 months ago

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

New York, New York, United States of America

Full-time

Onsite

Mid, Senior Level

$120K/yr - $200K/yr

5+ years exp

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The role involves leading a team to perform independent model reviews of mortgage pricing models, ensuring compliance with risk management policies and engaging with stakeholders to manage model-related risks.

BankingFinanceFinancial Services

Responsibilities

Lead a team of Reviewers and perform independent model reviews of the Resi Mortgage pricing models including Whole Loans and Securitized Products compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring

Communicate model validation conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial actions

Write comprehensive and high-quality review reports and oversee and train validation team members preparing such reports

Proactively identify and escalate thematic and idiosyncratic risk themes related to the models under the coverage area. Engage with relevant stakeholders in identifying effective approaches to managing such risks

Support high-profile, time-sensitive deliverables with limited supervision

Establish and sustain productive relationships with model stakeholders in 1LOD, 2LOD and 3LOD

Represent the Model Risk Management team in interactions with the business, model developers, the Internal Audit department and with regulatory agencies

Qualification

Model validationMortgage pricing modelsFinancial MathematicsStatistical softwareTeam leadershipCommunication skillsCritical thinkingProblem solving

Required

Five or more years in development or model validation of pricing models for Mortgage Resi products such as Resi Whole Loans, Agency, and non-agency products

Experience with Rates and Securitization pricing models

Expertise in Financial Mathematics such as Stochastic Calculus and Statistics

Proficiency in statistical software packages

Advanced degree in Finance, Mathematics, Physics, Engineering, Economics, or related quantitative fields

Experience engaging with regulators and internal audit

Strong written and verbal communication, including ability to influence and effect change

Critical thinking, problem solving, resourcefulness

Ability work in a dynamic, fast-paced, high-pressure environment

Experience with team leadership, people management, including remote teams