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. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence, and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

We are seeking someone to join our team as a Director in the Quantitative Analytics Group (QAG) within Internal Audit, which provides an independent model audit control service for most of the firm’s pricing and regulatory market, operational and credit risk models. The successful candidate would be responsible for executing and leading assurance activities related to model risk with a specific focus on the UK and PRA requirements in EMEA.

Department Profile

The Internal Audit Division (IAD) drives attention and resources to vulnerabilities by providing an independent and well-informed view and impactful messages about the most important risks facing our Firm. This is accomplished by performing a range of assurance activities to independently assess the quality and effectiveness of Morgan Stanley’s system of internal control, including risk management and governance systems and processes. IAD serves as an objective and independent function within the Firm’s risk management framework to foster continual improvement of risk management processes. This is a Director level role within the Technical Specialist job family, which is responsible for providing extensive subject matter expertise and reinforcing the ability of business and technology audit teams to appropriately assess risk and determine and execute coverage.

Company Profile

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.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence, and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

What You’ll Do in the Role:

• Help identify risk and impact to coverage area to prioritize key model risk areas relevant for the UK and German legal entities (e.g., IMM, IRB, Climate risk, FRTB, etc.).
• Execute and lead aspects of assurance activities (e.g., audits, continuous monitoring, closure verification) to assess risk and formulate a view on the control environment.
• Facilitate conversations with stakeholders (e.g., model developers and validators) on risks, their impact and how well they are managed in a clear, timely and structured manner.
• Assist in managing multiple deliverables in line with team priorities
• Solicit and provide feedback and participate in formal and on-the-job training to further develop self and peers.
• Execute detailed quantitative audits of pricing and risk models – including reviews of conceptual soundness, model validation reports, model monitoring and model change procedures.
• Document work in a clear, concise, and re-performable manner.
• Track and close technical findings resulting from model audits.

What You’ll Bring to the Role:

• At least 4 years' relevant experience in financial services would generally be expected to find the skills required for this role.
• Advanced degree in a quantitative discipline and/or relevant certification (e.g., CIA, FRM, CQF, CFA, PRMIA) preferred.
• Experience with compiled or interpretive development languages (e.g., C/C++, C#, VBA, JAVA).
• Programming skills in at least one high level modelling language (e.g., MatLab, Mathematica, FinCad, S+, R).
• Understanding of financial markets, financial mathematics, industry best practice risk modelling methodologies financial products across various asset classes, and key regulations relevant to coverage area.
• Strong understanding of audit principles, methodology, tools and processes (e.g., risk assessments, planning, testing, reporting and continuous monitoring)
• Ability to identify and analyse multiple data sources to inform point of view
• Ability to ask meaningful questions, understand various viewpoints and adapt messaging accordingly.
• A commitment to practicing inclusive behaviours.
• Strong interpersonal skills to interact confidently with key stakeholders (e.g., Internal Audit, Model Risk management and risk model developers).
• Ability to effectively challenge the quantitative methodologies.

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 - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

Certified Persons Regulatory Requirements:

If this role is deemed a Certified role and may require the role holder to hold mandatory regulatory qualifications or the minimum qualifications to meet internal company benchmarks.

Flexible work statement

Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.