Descrption:
Firm Risk Management
Morgan Stanley’s Firm Risk Management (FRM) Division is an exciting and rapidly growing space. We support 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.
Background on Position
The role will reside within the Firm Risk Management’s Risk Analytics area. Risk Analytics develops market risk analytics, credit risk analytics, operational risk analytics and scenario analytics models providing quantitative analysis on the Firm’s risk exposures. By developing mathematical and statistical models, Risk Analytics calculates the risks associated with specified sets of financial positions and day-to-day operations.
Morgan Stanley is seeking a strong analyst/associate level candidate passionate about quantitative risk management to join its Operational Risk Analytics Group. The team has an opening for a highly motivated individual to develop operational risk models related to stress testing, capital adequacy and the internal operational risk management. This individual will work closely with various stakeholders within the Operational Risk Department on addressing regulatory requirements, identifying operational risk drivers, and supporting business units’ operational improvement.
Primary Responsibilities
– Develop and maintain the stress testing methodology to satisfy various regulatory requirements (CCAR/ICAAP). This requires thorough statistical analysis of financial data, such as regression and time series analyses, and a good understanding of the various macroeconomic or market factors that impact the evaluation of operational risk.
– Support internal risk management by deriving actionable strategies from operational data and metrics.
– Write high-quality model documentation compliant with the firm’s internal model governance policy, audit requirements, and the industry regulation (e.g., FRB, OCC, ECB and PRA).
– Closely work with the Operational Risk Department (ORD) to provide regular ongoing model performance assessments, perform regular production runs, review analysis results with senior management and provide recommendations.
– Support ORD on their dashboard building and any other automation efforts.
Qualifications:
Experience
– Bachelor’s degree in a quantitative discipline (e.g., statistics, economics, finance, physics, engineering, mathematics)
– Statistical skills such as simulation, regression, and time series analysis
– Familiarity with statistical packages (e.g., MATLAB, R or Python)
– Team player with strong interpersonal and communication skills
– Master or PhD degree in a quantitative discipline (preferred)
– Familiarity with machine learning, natural language processing and artificial intelligence (preferred)
– Hands-on experience with operational risk management (preferred)
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Morgan Stanley’s goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
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, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
Expected base pay rates for the role will be between $85,000 USD and $140,000 USD per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.