Model Risk Specialist – Traded Risk, IMM Focus

Model Risk Specialist – Traded Risk, IMM Focus

Firm Risk Management 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, operational, model and other risks.

This role resides within FRM's Model Risk Management (MRM) Department which is dedicated to providing independent model risk control, review and validation of models used by Morgan Stanley. These include models used to monitor market risk (IMA), counter party credit risk (XVA/IMM), credit risk (IRB), operational risk, capital and liquidity stress tests as well as valuation models. This specific role is providing coverage for the IMM modeling area.

MRM professionals in New York, London, Budapest, Frankfurt, Mumbai and Tokyo work closely with business quantitative strategists, risk analytics, risk managers and financial controllers. The members of the IMM coverage team work collaboratively with members of Model Risk Management across all model areas globally.

Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

What you'll do in the role:

• Conduct model validation for IMM models by challenging model assumptions, mathematical formulation, and implementation
• Develop GenAI and Agentic AI solutions to automate model testing, streamline validation workflows, and enhance efficiency within Model Risk Management, with a strong interest in adapting to emerging AI technologies
• Conduct independent testing to assess model accuracy and robustness under different scenarios and market conditions
• Assess and quantify model risks due to model limitations and develop compensating controls
• Highlight risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees
• Collaborate with Global MRM teams, Model Control Officers, Valuation Control and Risk Managers to manage model risk across the model lifecycle
• Assist in cultivating and managing effective relationships with regulators by providing accurate and timely submissions

What you'll bring to the role:

• Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field
• In-depth knowledge of mathematical finance, derivative pricing, and numerical techniques
• The ideal candidate has strong experience with valuation models or Counter party Credit Risk models gained at a financial institution
• Working experience of 5+ years, including relevant experience of 3+ years
• Experience developing pricing and risk models using Python, R or C++ is a plus
• The ability to effectively communicate with a wide range of stakeholders, both written and verbally
• An interest in working in a fast-paced environment, often balancing multiple high priority deliverables

FRM is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views.