Morgan Stanley
Wealth Management Risk Model Control Team – Governance Associate/AVP
Morgan Stanley, Purchase, New York, United States, 10577
Overview
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Wealth Management Risk Model Control Team – Governance Associate/AVP
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Morgan Stanley . Morgan Stanley is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. The Firm serves clients worldwide in more than 1,200 offices across 42 countries. The Wealth Management division offers products and services for individuals, businesses, and institutions, including brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement, and trust. Description Morgan Stanley Wealth Management Risk group oversees the risk and control framework within the Wealth Management business unit. The group collaborates with WM and Bank units as well as the Firm Risk Management group to implement control processes that protect the firm from operational, credit, investment, trading, reputational, and model risk. The position resides within WM Model Risk. The Model Control team manages the model inventory for all WM models and Bank models that impact Morgan Stanley Private Bank, National Association (MSPBNA), and Morgan Stanley Bank National Association (MSBNA) (collectively, the Banks). The team creates policy, procedures, governance structures, and participates in model certification and rollout. It tracks and reports progress on model-specific issues identified by regulators, internal audit, and independent model review, and works with model developers/owners and the Firm model review and governance teams. The team is also responsible for the governance and inventory of the division’s non-model Tools, which are quantitative methods and calculations whose outcomes are produced by deterministic rules or algorithms and can pose financial, regulatory, or reputational risk if errors go undetected. Responsibilities Conduct interviews with business partners to add to the inventory of the division’s Models and non-model Tools, including End-User Computing (EUC) and system-based items Manage inventory of Models/Tools through the Firm Tool database (Cluster Seven IMS) and the Firm Model database (MCS) Oversee model risk for Bank models, in compliance with the Firm Global Model Risk Management Policy Support the execution of the Model/Tool control frameworks, including periodic updates of procedures Lead training and create training materials for business partners Represent the team and prepare presentation materials for Model/Tool related committees and senior management Maintain various reporting dashboards as needed Assist with various attestation-related initiatives throughout the year Qualifications Strong organization and time-management skills, with the ability to transition between projects and tasks efficiently Ability to work independently, be self-motivated, and take ownership of projects Excellent verbal and written communication and interpersonal skills Advanced MS Office skills (Excel, PowerPoint, Word) Knowledge of Python, SQL or Microsoft Macro/VBA is a plus but not required Prior relevant risk management, operational or regulatory experience Education: BA or BS 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—guide our decisions each day. Morgan Stanley offers an environment where you are supported and empowered, with collaborative teams and diverse perspectives. We provide attractive and comprehensive employee benefits and opportunities for career growth. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Equal employment opportunity: Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet). 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 status, sexual orientation, national origin, citizenship, disability, marital or civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law. There is no implied commitment or obligation to provide employment after this posting.
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Join to apply for the
Wealth Management Risk Model Control Team – Governance Associate/AVP
role at
Morgan Stanley . Morgan Stanley is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. The Firm serves clients worldwide in more than 1,200 offices across 42 countries. The Wealth Management division offers products and services for individuals, businesses, and institutions, including brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement, and trust. Description Morgan Stanley Wealth Management Risk group oversees the risk and control framework within the Wealth Management business unit. The group collaborates with WM and Bank units as well as the Firm Risk Management group to implement control processes that protect the firm from operational, credit, investment, trading, reputational, and model risk. The position resides within WM Model Risk. The Model Control team manages the model inventory for all WM models and Bank models that impact Morgan Stanley Private Bank, National Association (MSPBNA), and Morgan Stanley Bank National Association (MSBNA) (collectively, the Banks). The team creates policy, procedures, governance structures, and participates in model certification and rollout. It tracks and reports progress on model-specific issues identified by regulators, internal audit, and independent model review, and works with model developers/owners and the Firm model review and governance teams. The team is also responsible for the governance and inventory of the division’s non-model Tools, which are quantitative methods and calculations whose outcomes are produced by deterministic rules or algorithms and can pose financial, regulatory, or reputational risk if errors go undetected. Responsibilities Conduct interviews with business partners to add to the inventory of the division’s Models and non-model Tools, including End-User Computing (EUC) and system-based items Manage inventory of Models/Tools through the Firm Tool database (Cluster Seven IMS) and the Firm Model database (MCS) Oversee model risk for Bank models, in compliance with the Firm Global Model Risk Management Policy Support the execution of the Model/Tool control frameworks, including periodic updates of procedures Lead training and create training materials for business partners Represent the team and prepare presentation materials for Model/Tool related committees and senior management Maintain various reporting dashboards as needed Assist with various attestation-related initiatives throughout the year Qualifications Strong organization and time-management skills, with the ability to transition between projects and tasks efficiently Ability to work independently, be self-motivated, and take ownership of projects Excellent verbal and written communication and interpersonal skills Advanced MS Office skills (Excel, PowerPoint, Word) Knowledge of Python, SQL or Microsoft Macro/VBA is a plus but not required Prior relevant risk management, operational or regulatory experience Education: BA or BS 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—guide our decisions each day. Morgan Stanley offers an environment where you are supported and empowered, with collaborative teams and diverse perspectives. We provide attractive and comprehensive employee benefits and opportunities for career growth. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Equal employment opportunity: Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet). 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 status, sexual orientation, national origin, citizenship, disability, marital or civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law. There is no implied commitment or obligation to provide employment after this posting.
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