Model Risk (Risk Management) : Job Level - Associate

Model Risk Management - Associate, Capital and Risk Weighted Assets Morgan Stanley 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: 1\. Putting Clients First 2\. Doing the Right Thing 3\. Leading with Exceptional Ideas 4\. Giving Back 5\. 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 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 Primary Responsibilities 1\. Conduct model validation for market risk and credit risk RWA (Risk Weighted Assets) models used under forecasting for CCAR and other regulatory stress testing guidelines by challenging model assumptions, mathematical formulation, and implementation. 2\. Conduct and develop independent testing ideas and framework to assess model accuracy and robustness under different scenarios and market conditions for the Models. 3\. Contribute to development and independently review existing monitoring and quantify model risks due to model limitations including developing compensating controls. 4\. Develop high-quality validation reports highlighting risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees Collaborate with Global MRM teams, Model Control Officers, Regulatory Capital Controllers, Finance and Risk Managers to manage model risk across the model lifecycle. 5\. Assist in cultivating and managing effective relationships with regulators by providing accurate and timely submissions. ? Experience -Masters (or equivalent) in Finance, Economics, Mathematics, or a related quantitative field is required. -The ideal candidate has experience with understanding of credit risk or market risk gained at a financial institution is required. -2+ years of relevant working experience with validation, development or finance and change management function is required. -Knowledge of financial products and regulatory rules capital framework (SA-CCR, FRTB and Basel III rules) is a plus. -Experience on Regulatory Capital with CCAR and other supervisory stress testing is a plus. -The ability to effectively communicate with a wide range of stakeholders, both written and verbally is required. -Ability to partner and work effectively both with team members and...