Morgan Stanley

Associate - Model Risk Quant (Risk Management)

Posted On

June 7, 2024

Location

Mumbai, Maharashtra

Experience Level

Freshers/Experienced

Job Type

Permanent

Apply By

July 3, 2024

Job Description

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.

Firm Risk Management

Firm Risk Management (FRM) supports 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, model and other risks.

Department Profile

The cornerstone of Morgan Stanley' s risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley' s capital base and franchise. Risk Management protects the firm from exposure to losses resulting from market volatilities and defaults by our lending and trading counterparties.

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 defense within the Firm.

Primary Responsibilities :

The primary responsibilities of the role include, but are not limited to the following:
- Provide independent review and validation compliant with MRM policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of model / tool methodology, model / tool limitations, data quality, and on-going monitoring of model / tool performance
- Take initiatives and responsibility of end-to-end delivery of a stream of Model and Tool Validation and related Risk Management deliverables
- Write Model and Tool Review findings in validation documents that could be used for presentations both internally (model and tool developers, business unit managers, Audit, various global Committees) as well as externally (Regulators)
- Verbally communicate results and debate issues, challenges and methodologies with internal audiences including senior management . Represent MRM team in interactions with regulatory and audit agencies as and when required
- Follow financial markets & business trends on a frequent basis to enhance the quality of Model and Tool Validation and related Risk Management deliverables.

Qualifications Skills required (essential / preferred)
- Masters or Doctorate degree in a quantitative discipline such as Statistics, Mathematics, Physics, Computer Science or Engineering is essential
- Experience in a Quant role in validation of Models / Tools, in developments of Models / Tools or in a technical role in Financial institutions e.g. Developer, is essential
- Strong written & verbal communication skills including debating different viewpoints and making formal presentations of complex topics to a wider audience is preferred
- 5+ years of relevant work experience in a Model / Tool Validation role in a bank or financial institution
- Proficient programmer in Python ; knowledge of other programming languages like R, Scala, MATLAB etc. is preferred
- Willingness to learn new and complex topics and adapt oneself (continuous learning) is preferred
- Working knowledge of statistical techniques, quantitative finance and programming is essential; good understanding of various complex financial instruments is preferred
- Knowledge of popular machine learning techniques is preferred
- Relevant professional certifications like CQF, CFA or progress made towards it are preferred

“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".

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