Senior Executive at Morgan Stanley
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Morgan Stanley - Analyst/Associate - Credit Stress & Internal Ratings - Based Model Monitoring (1-8 yrs)
Analyst/Associate - Credit Stress and Internal Ratings - Based Model Monitoring
About 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. 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. 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:
- Putting Clients First
- Doing the Right Thing
- Leading with Exceptional Ideas
- Giving Back
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. FRM's mission is to serve the following roles:
- Be an independent agent to set consistent principles and disciplines for risk management
- Be a strategic advisor to Firm management for setting risk appetite and allocating capital
- Be an industry leader to influence and meet regulatory standards
Firm Risk Management promotes:
- Flat, flexible and integrated global organization
- Collaboration and teamwork
- Credible, independent decision-making
- Organizational influence
- Creative and practical solutions
- Meritocratic and diverse culture
FRM collaborates with teams across 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, FRM brings 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.
Morgan Stanley's Risk Analytics department that resides within Firm Risk Management (FRM) performs quantitative analysis on the Firm's Credit, Market, Operational, and Liquidity risk exposures. The department's primary objective is to measure and project risks across the Firm to support executive decisions and protect the Firm. Risk Analytics operates in Morgan Stanley's offices in Budapest, London, Mumbai and New York.
The Open Position
Risk Analytics has an opening for an analyst/associate-level person to support the model development teams. The successful candidate will work extensively with credit risk models involving IRB approaches, CCAR and CECL. The successful candidate will have strong analytical skills, an excellent work ethic and a high degree of interest in both quantitative and non-quantitative aspects of financial risk management.
- Quickly develop a deep understanding of Morgan Stanley's credit risk analytics models
- Determine key metrics that indicate how credit risk analytics models are performing
- Produce and automate model monitoring reports for a broad range of credit models
- Implement changes to model monitoring reports as market conditions and model updates warrant such changes
- Collaborate with Model Owners and Model Developers to conduct ad hoc analyses to identify causes for model underperformance
- Determine and communicate key developments in model performance to senior stakeholders and the credit oversight committee
- Partner with teams across Risk Analytics, technology, model risk management, credit risk officers and other teams throughout FRM and the Firm
- Bachelors and/or masters degree
- Firm knowledge of basic statistics. More-advanced statistical training would be helpful, but not required.
- 1+ years of relevant experience
- Experience with R, SQL and/or Python. Extensive development experience is not necessary, but the candidate should be comfortable working with code and data.
- Proficiency with Microsoft Office (primarily PowerPoint, Word and Excel)
- Strong presentation and communication abilities
- Ability to work with cross-functional and cross-cultural teams in different countries
- Prior work experience in the financial sector and/or financial risk management
- Prior work experience with credit markets and products
- Prior work experience in a bank credit-related department. Examples include credit trading, origination/underwriting, leveraged finance, CVA.
- Knowledge of financial institutions regulatory frameworks. Examples include CCAR, Dodd-Frank and Basel.
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