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Morgan Stanley · 1 month ago

Model Risk Management Governance Oversight and Assurance (Risk Management) : Job Level - Vice President

New York, NY

Full-time

Onsite

Senior Level, Lead/Staff

$120K/yr - $205K/yr

10+ years exp

Morgan Stanley is a leading financial services firm, and they are seeking a Vice President for their Model Risk Management Governance Oversight and Assurance team. This role involves ensuring effective implementation of the model risk management framework, collaborating with various stakeholders, and enhancing governance standards across the organization.

Asset ManagementFinanceFinancial ServicesLending

Responsibilities

Assess the implementation of the existing model risk management framework, identify inconsistencies and agree on actions to resolve inconsistencies with relevant stakeholders for the coverage area

Determine and influence enhancements to the framework and drive roll out of framework enhancements in conjunction with first line leaders and senior model validators in the coverage area

Central point of contact for model risk governance matters for first line model control officers and model developers as well as second line model validators for the coverage area

Review and challenge first line procedures (Models, Tools and End User Computing (EUCs)) and monthly model oversight committee materials for the coverage area

Interface with global regulators and Internal Audit and represent MRM Governance in first line governance forums for the coverage area

Roll out training on policy assurance expectations and raise self-identified issues in OpenPages when necessary

Qualification

Model risk managementQuality assuranceRegulatory complianceAnalytical skillsMS Office proficiencyInterpersonal skillsProblem solvingTeam playerDetail orientedCommunication skills

Required

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 model development and/or independent model validation, analytics, compliance or regulatory/internal audit function

Experience in quality assurance, model risk controls, challenging the implementation of a model risk management framework

Experience with core model risk management regulation requirements (e.g., FRB SR 11-07, SR 15-18, PRA SS1/23)

Ability to influence and challenge the implementation of the MRM Governance Framework

Pragmatic problem solver and forward thinker with strong analytical background and ability to assess model documentation against the MRM standards

Ability to prioritize and manage multiple competing objectives with tight deadlines

Strong communicator (verbal and written communication) with good interpersonal skills

Ability to develop partnerships across functions and geographies

Detail oriented with exceptional organizational skills

Advance working knowledge of MS Word, PowerPoint, and Teams

Self-motivated and team player who brings a can-do approach