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.
The talent and passion of our people is critical to our continued success as a firm. Together, we share five core values rooted in integrity, excellence and strong team ethic:
Putting Clients First
Doing the Right Thing
Leading with Exceptional Ideas
Committing to Diversity and Inclusion
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.
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.
You will collaborate with colleagues across FRM and 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 we are best able to bring 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.
Firm Risk Management’s unique franchise promotes:
Flat, flexible and integrated global organization
Collaboration and teamwork
Credible, independent decision-making
Creative and practical solutions
Meritocratic and diverse culture
Background on the Position
Morgan Stanley’s Firm Risk Management department is looking for candidates to join our Model Development and Model Validation teams.
Research, develop, enhance and document risk models, methodologies and tools for regulatory and risk management purposes
Perform analysis including back-tests, stress tests, scenario and sensitivity analyses
Program, test and implement quantitative financial methods using tools such as Python, C++, VBA, R and SQL
Use advanced statistics, econometrics and mathematics skills such as probability theory, stochastic calculus, Monte Carlo simulation, numerical analysis, and time series analysis
Partner with Technology on model testing, implementation and production
Provide documentation and responses to regulators and internal validators, contributing to regulatory exams and projects
Provide independent review and validation of Firm models, for example equity derivative pricing and risk capital models using tools such as Python, C++, VBA, R and SQL
Collaborate with teams within the Firm to provide regular ongoing model performance assessments. Review analysis results with senior management and provide recommendations
Learn about the Firm’s governance framework for models used in all divisions
Write high-quality model review documentation that satisfies the requirements of Model Risk Management, Internal Audit and the Firm’s regulators (e.g. FRB, OCC, and PRA)
Strong technical skills in Python, C++, VBA, R and/or SQL
Understanding of complex financial products (derivatives, options, swaps, etc.), financial markets and key regulations
Outstanding communication skill; able to present complex issues verbally and in writing
Strong analytical thinking and problem solving skills
Flexible and collaborative
Masters or Doctoral students in a quantitative field (Statistics, Physics, Mathematics, Operations Research, etc.) are strongly preferred