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VP, Risk Process Validation (Risk Management)

AT Morgan Stanley
Morgan Stanley

VP, Risk Process Validation (Risk Management)

New York, NY

Firm Risk Management

Morgan Stanley's Firm Risk Management (FRM) Division is an exciting and rapidly growing space. We support 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.

Responsibilities -

- Lead the team to perform independent validations of selected FRM processes and controls, including those relating to regulatory and Basel requirements
- Maintain the RPVG Validation Inventory; design the validation program, annual plan and reassess the risk-based prioritization approach

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- Manage and supervise the validations (e.g., planning, documenting, reporting) and continuous monitoring activities (e.g., risk assessments)
- Provide review and challenge to all phases of the individual validations; own issue assessment and socialization, finalize validation memo, review and sign off the validation documentation
- Present validation plans, issues and observations to senior management and relevant management committees
- Evolve and enhance the team's validation methodology and execution capabilities
- Engage with key stakeholders, governing bodies, and business partners to review status of validation work, results of test work, and quarterly reporting
- Partner with other independent validation teams within., Model Risk Management as well as with Regulatory Reporting Quality Assurance (RRQA) to support a unified end-to-end validation program
- Drive the process automation and advanced data analytics initiatives to enhance validation efficiency
- Manage, coach and develop local team members

- Bachelor's or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
- 10+ years of experience from consulting, risk management, or internal audit covering processes and controls across risk stripes (e.g., Credit, Market, Liquidity, Capital and Data Risk)
- Experience in process and data validation, and/or data visualization and process automation
- Strong understanding of the banking regulatory environment, including familiarity with Bank of International Settlements (BIS) principles (e.g., Basel III, BCBS 239, FRTB), capital planning requirements and practices from FRB (e.g., CCAR, DFAST), OCC, ECB, and PRA
- Experience with core banking, investment and trading products, and banking regulations (e.g., FRB SR 11-07, SR 12-17, SR 14-08, SR 15-18, PRA SS1/23)
- Understanding of data lineage and database schema; experience working with large data sets, data warehouse, or data lake; knowledge of IT general controls and/or business analyst experience
- (Preferred) Knowledge and experience with data analytics and data visualization tools and systems (e.g., PowerBI, Alteryx, Dataiku, QlikView, Tableau); experience with writing or editing SQL, Python and/or other programming languages; advanced Excel knowledge
- (Preferred) Knowledge of and experience in robotic process automation (RPA)
- (Preferred) Relevant certifications or designations (e.g., CFA or FRM)
- Ability to successfully lead and manage teams and collaborate with global teams
- Ability to develop partnerships across functions and geographies
- Strong risk, process and control validation/testing, analytical and assessment skills
- Strong communicator with good interpersonal skills
- Ability to influence and execute the vision for RPVG globally
- Pragmatic problem solver and forward thinker
- Ability to prioritize and manage multiple competing objectives.

Expected base pay rates for the role will be between $120,000 and $200,000 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).

Client-provided location(s): New York, NY, USA
Job ID: Morgan-549781666898
Employment Type: Other

Perks and Benefits

  • Health and Wellness

    • Health Insurance
    • Dental Insurance
    • Vision Insurance
    • Life Insurance
    • Short-Term Disability
    • Long-Term Disability
    • Fitness Subsidies
    • On-Site Gym
    • Pet Insurance
    • Mental Health Benefits
    • FSA
    • Virtual Fitness Classes
    • HSA
  • Parental Benefits

    • Fertility Benefits
    • Adoption Assistance Program
    • Family Support Resources
    • Return-to-Work Program
    • Birth Parent or Maternity Leave
    • Non-Birth Parent or Paternity Leave
    • Adoption Leave
  • Work Flexibility

    • Hybrid Work Opportunities
  • Office Life and Perks

    • Commuter Benefits Program
    • Company Outings
    • On-Site Cafeteria
    • Holiday Events
  • Vacation and Time Off

    • Paid Vacation
    • Paid Holidays
    • Leave of Absence
    • Volunteer Time Off
    • Personal/Sick Days
  • Financial and Retirement

    • 401(K) With Company Matching
    • Stock Purchase Program
    • Performance Bonus
    • Relocation Assistance
    • Financial Counseling
  • Professional Development

    • Tuition Reimbursement
    • Promote From Within
    • Mentor Program
    • Access to Online Courses
    • Lunch and Learns
    • Work Visa Sponsorship
    • Leadership Training Program
    • Associate or Rotational Training Program
    • Internship Program
  • Diversity and Inclusion

    • Diversity, Equity, and Inclusion Program
    • Employee Resource Groups (ERG)