Morgan Stanley

Associate - Credit Risk Data Control (Risk Management)

Posted On

June 25, 2024

Location

Mumbai, Maharashtra

Experience Level

Freshers/Experienced

Job Type

Permanent

Apply By

July 17, 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.

Background on the Team

Credit Risk Data Control plays a pivotal role within CRM. The team is responsible for ensuring that Credit Risk data is of high quality (e.g., timely, accurate and complete) and supports sound risk management decisions and meets regulatory expectations. In addition, the team is responsible for credit limit monitoring and reporting, providing change management support, and developing tools to assist in automation and representation of credit risk information to management.

Background on the Position
The Credit Risk Data Control team is currently seeking an Analyst/Associate level candidate based in Mumbai, India. This role is an exciting opportunity within to expand the Credit Risk Data Control team in Mumbai. The role will help to adhere CRM's data management processes to meet the Firm's Data Policy requirements and Regulatory expectations. The role will include significant collaboration with partners across the globe, particularly in New York, Budapest and London. The candidate selected for the role will need to have exception qualitative and quantitative analytical skills, attention to details, strong communication skills and organizational skills. Basic technical skills as working knowledge of databases and working with large datasets via SQL and VBA programming or other programming languages like python would be added advantage.

Primary Responsibilities
- Monitoring and validating counterparty credit risk exposures' daily moves for various credit exposure metrics calculated by Internal model method (IMM)
- Identify and remediate data quality issues for exposure numbers by proactively engaging with various stakeholders and product experts within and outside of Credit Risk Management (CRM)
- Evaluate trade booking structure and model calculation methods to validate exposure and perform remedial actions/adjustment to correct exposure numbers within tight deadlines
- Analyse trade, model data flows and other factors from- legal, collateral, market compositions, market data curves, etc. contributing to credit portfolio, to explain exposure and its underlying model changes
- Validate and improve integrity of data used in exposure reporting.
- Deep dive investigation on recurring issues to identify root cause and resolution
- Proactively engage with various stakeholders and product experts from various departments - Credit Officers, Risk Analytics, Trading Desks, Middle office, IT and other risk stripes in FRM for data remediation
- Support transaction testing requests from internal (e.g., Internal Audit) and external parties (various Regulators)
- Prepare data management performance reports and contribute to preparation of various regulatory reporting submissions

Secondary Responsibilities
- Contribute to the enhancement of CRM's data management processes to meet internal requirements and Regulatory expectations (such as those established by BCBS239, 14Q, FED/PRA reports)
- Identify areas which can be automated to bring more timeliness and efficiency.
- To get involved in change management initiatives and User acceptance testing (UAT)

Experience and skills desired:
- Strong knowledge with products that generate Counterparty Credit Risk: OTC derivatives (Rates, FX, Credit, Equities, Commodities), Securities Financing Transactions
- In-depth knowledge of credit exposure measures such as Current Exposure (CE), Potential Future exposure (PFE), Expected Effective Positive Exposure (EEPE), Loan Equivalent (LEQ)
- Bachelor's degree in finance, Computer Science, or Engineering related areas; CFA or FRM preferred
- Experience in Risk Management, Credit Risk Middle Office, or Finance area (For Analyst role - minimum 1 year experience, for Associate Role minimum 3 years' experience)
- Basic technical skills, including working knowledge of databases and comfort working with large datasets via SQL and VBA programming is a must; other programming languages like python would be a plus
- Familiarity with data visualization tools would be an advantage such as Power BI etc.
- Good analytical skills, Organizational skills, Self-motivator
- Strong written and verbal communication skills
- Ability to meet deadlines and deliver quality with keen attention to detail
- Willingness to collaborate with colleagues in other geographic locations

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise 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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