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:

1. Putting Clients First
2. Doing the Right Thing
3. Leading with Exceptional Ideas
4. Giving Back
5. 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
• Organizational influence
• 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.

Model Development:

• 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

Model Validation:

• 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)