Job Description

Director / AVP (Model Risk)


Job Number: 3223973
POSTING DATE: Sep 14, 2022
PRIMARY LOCATION: Non-Japan Asia-India-India-Mumbai (MSA)
EDUCATION LEVEL: Bachelor's Degree
JOB: Model Risk
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Director

DESCRIPTION
Background on the Position Morgan Stanley's Model Risk Management (MRM) department resides within Morgan Stanley's Firm Risk Management Division. Morgan Stanley's global MRM team, spread across New York, London, Mumbai and Budapest, is broadly responsible for the risk management of all of the Firm's models involving model validation, risk assessment, and governance and act as an effective second line of defence within the Firm. Morgan Stanley is seeking a strong Quant candidate to be a member of the MRM Mumbai team, focused on the review, validation and risk assessment of quantitative models used in wealth management. These models will cover areas of AI based decision support models e.g. recommender systems, models related to electronic trading and portfolio construction models used in asset management. Primary Responsibilities
1 Provide independent review and validation 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 for models
2 Take initiatives and responsibility of end-to-end delivery of a stream of Model Risk Management related deliverables
3 Follow financial markets & business trends on a frequent basis to enhance the quality of Model Risk Management.
4 Write Model Risk Management findings in validation documents that could be used for presentations both internally (model developers, business unit managers) as well as externally (regulators).
5 Verbally communicate results and debate issues, challenges and methodologies with internal audiences including senior management
6 Represent Model Risk Management team in interactions with regulatory and audit agencies as required

QUALIFICATIONS
Qualifications Skills required (essential / preferred)
1 Masters or Doctorate degree in a quantitative discipline such as Statistics, Mathematics, Physics or Engineering
2 Experience in a Quant role in Model Risk and/or in Wealth Management, Investment Management, Trading and Asset Management
3 6+ years of relevant work experience in a Model Risk Quant role in a bank or financial institution
4 Good understanding of financial instruments and concepts of asset management
5 Knowledge of popular machine learning techniques
6 Proficient programmer in Python
7 Relevant professional certifications like CQF, CFA or progress made towards it are preferred
8 Strong written & verbal communication skills including debating issues and making formal presentations
9 Desire to work in a dynamic, team-oriented, fast-paced environment focusing on challenging tasks mixing fundamental, quantitative and market-oriented knowledge and skills.