Wealth Management Risk Model Control Team Governance Associate / AVP

Morgan Stanley Wealth Management Risk Group

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 42 countries. Morgan Stanley Wealth Management provides a range of wealth management products and services for individuals, businesses, and institutions. These services include brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement, and trust.

Job Description

Morgan Stanley Wealth Management Risk group is responsible for overseeing the risk and control framework within the Wealth Management business unit. The group teams with WM and Bank business units as well as the Firm Risk Management group to implement control processes and procedures and protect the firm from exposure to various risks including operational, credit, investment, trading, reputational, and model risk. The position will reside within WM Model Risk. The Model Control team oversees the model inventory for all WM models as well as Bank models that impact Morgan Stanley Private Bank, National Association ("MSPBNA"), Morgan Stanley Bank National Association ("MSBNA") (collectively, the "Banks"). The team is responsible for creating relevant policy, procedures and governance structures and participating in the certification and roll-out of models. In addition, the team is responsible for tracking and reporting progress on model specific issues identified by regulators, internal audit and through independent model review. The team works in close collaboration with model developers / owners and the Firm model review and governance teams. In addition, the team is responsible for the governance and inventory of the division's non-model Tools. Tools are quantitative methods and calculations that are separate and distinct from models in that their outcomes are generated by deterministic rules or algorithms, and can cause financial, regulatory, or reputational harm to the Firm as a result of undetected errors.

The applicant should be interested in risk and controls, as well as process oversight and management. Work history should demonstrate strong attention to details, execution and project management skills, and the ability to influence and coordinate within cross-functional teams.

Responsibilities

• Conduct interviews with business partners to add to the inventory of the division's Models and non-model Tools, both End-User Computing (EUC) and system-based
• Manage inventory of Models / Tools through the Firm Tool database (Cluster Seven IMS) and the Firm Model database (MCS)
• Oversee model risk for Bank models, in compliance with the Firm Global Model Risk Management Policy
• Support the execution of the Model / Tool control frameworks which include the periodical update of procedures
• Lead training and create training materials for business partners
• Represent the team and prepare presentation materials for Model / Tool related committees and senior management
• Maintain various reporting dashboards as needed
• Assist with various attestation-related initiatives throughout the year

Qualifications

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 89 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. 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. There's also ample opportunity to move about the business for those who show passion and grit in their work.

Expected base pay rates for the role will be between $58,000 and $115,000 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).