Associate, Model Risk (Risk Management)

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 New York team works collaboratively with members of Model Risk Management across all model areas globally. Primary Responsibilities
- Conduct model validation for pricing models by challenging model assumptions, mathematical formulation, and implementation
- 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
Experience
- 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 gained at a financial institution
- Relevant working experience of 3-6 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

of stakeholders, both written and verbally

- An interest in working in a fast-paced environment, often balancing multiple high priority deliverables

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 85 years. At our foundation are five core values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. 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.

We're committed to bringing passion and customer focus to the business.

Expected base pay rates for the role will be between $85,000 and $140,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).