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, model and other risks.
Background on the Position
Morgan Stanley is seeking a VP to join the Firm Risk Management's Risk Analytics Group. Risk Analytics develops market risk, wholesale credit risk, counterparty credit risk and stress testing scenario analytics models providing quantitative analysis on the Firm's risk exposures. By developing mathematical and statistical models, Risk Analytics calculates the risks associated with specified sets of financial positions and day-to-day operations.
This role will reside within the Scenario Analytics (SA) team within the Scenario and Credit Stress Analytics (SCSA) department of Risk Analytics. The SA team is responsible for producing macroeconomic scenarios and forecasts used in Firm-wide capital planning, budgeting, and loss assessment. Additionally, the wider SCSA department is responsible for developing state-of-the-art credit stress testing models to support capital planning and risk management.
SCSA is seeking a senior quantitative modeler to support macroeconomic forecasting and scenario generation projects and deliverables in modeling, stress testing and climate risk space. The candidate needs to collaborate within the team and across a range of functional groups to timely fulfill the deliverables for various stress testing exercises.
Primary Responsibilities
Primary Responsibilities include, but are not limited to:
- Developing, analyzing, explaining, and documenting econometric models and macroeconomic forecasting results used for stress testing purposes.
- Participating in econometric modeling and macroeconomic forecasting tasks for BAU and regulatory stress testing needs (climate risk, capital planning, limit setting, budgeting and planning, accounting regimes).
- Organizing and analyzing macroeconomic and financial market data from various sources.
- Coding in R and Python to enhance variable forecast generation and process automation
- Liaising with risk managers and various business units across the firm to calibrate macroeconomic and financial market variable paths for various forecasting initiatives.
- Assisting in economic research, statistical modeling, machine learning and methodology development to enhance the scenario design framework.
- Communicating with stakeholders, internal audit, model validation, regulatory agencies and responding to their requests on a timely and accurate basis.
- Providing support to software tool development and testing and scenario design documentation. Qualifications
- Master's degree in a quantitative field such as Finance, Economics, Engineering, or Mathematics, or equivalent experience.
- 5-10 years of experience at a financial institution, audit firm, or consulting firm, preferably performing a similar function.
- Strong analytical thinking and problem-solving skills.
- Proficiency in using R and Python for statistical and econometric analysis.
- Ability to work independently and manage multiple projects simultaneously.
- Attention to detail, a self-motivated team player who thrives in a fast-paced, team-oriented environment.
- Excellent communication skills: ability to present complex and technical issues clearly, both verbally and in writing.
Desired Qualifications
- Knowledge of financial risk management and regulatory compliance.
- Prior risk management experience in the financial industry.
Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.
This role is hybrid and currently requires in office attendance 3 days/week. The in-office requirement is subject to change at any time.
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 $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).
