Model Risk (Risk Management) - Associate

We’re seeking someone to join our team as a Model Risk Specialist - Traded Risk, IMM Focus to the Model Risk Management team.

In the Firm Risk Management division, we advise businesses across the Firm on risk mitigation strategies, develop tools to analyse and monitor risks and lead key regulatory initiatives.

This role resides within FRM's Model Risk Management (MRM) Department which provides independent model risk control, review and validation of models used by Morgan Stanley. These include models used to monitor market risk (IMA), counterparty credit risk (XVA/IMM), credit risk (IRB), operational risk, capital and liquidity stress tests as well as valuation models. This specific role is providing coverage for the IMM modelling area. 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 members of the IMM coverage team work collaboratively with members of Model Risk Management across all model areas globally.

What you’ll do in the role:

• Conduct model validation for IMM models by challenging model assumptions, mathematical formulation, and implementation.
• Develop GenAI and Agentic AI solutions to automate model testing, streamline validation workflows, and enhance efficiency within Model Risk Management, with a strong interest in adapting to emerging AI technologies.
• 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.

What you’ll bring to the role:

• 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 or Counterparty Credit Risk models gained at a financial institution.
• Working experience of 5+ years, including relevant experience of 3+ 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 stakeholders, both written and verbally.
• An interest in working in a fast-paced environment, often balancing multiple high priority deliverables.

FRM is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views.

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - 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.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.