Associate, Climate Risk (Risk Management)

at  Morgan Stanley

Associate, Climate Risk (Risk Management)
Job Number:

3260747
POSTING DATE: Oct 29, 2024
PRIMARY LOCATION: Americas-United States of America-New York-New York
EDUCATION LEVEL: Bachelor’s Degree
JOB: Credit Risk
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Associate

DESCRIPTION

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 Firms 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.

Our mission is to serve as the follow roles:

• Independent agent to set consistent principles and disciplines for risk management
• Strategic advisor to Firm management for setting risk appetite and allocating capital
• Industry leader to influence and meet regulatory standards

You will collaborate with colleagues across FRM and the Firm to protect the Firms 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 Managements 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

Company Profile
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.
As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Department Profile
Credit Risk Management (CRM) evaluates credit risk transactions and approves, rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions.
Position Description
Morgan Stanley is seeking a candidate to join the Wealth Management Credit Analytics team to lead the development of climate risk methodologies to incorporate into risk management frameworks. The Wealth Management lending portfolio comprises wholesale and retail products, including commercial real estate, residential mortgage as well as securities backed lending products. The ideal candidate will demonstrate strong analytical skills, be a good team player, a self-starter with curiosity to learn and solve problems to enhance risk capabilities and communicate effectively in various forums.

Primary job responsibilities include:

• Lead the development of methodologies for incorporating climate risk into existing risk management framework, including measuring impact of different climate events and enhancing risk appetite, underwriting, portfolio management, reserves and stress loss projections
• Evaluate new and evolving tools to enhance monitoring and analyses of climate events and associated impact to lending portfolios
• Enhance risk appetite and establish KRIs to monitor impact of climate events and associate exposure and risk to lending portfolios
• Collaborate with Firm-wide stakeholders and stay connected with climate initiatives across the firm, and leverage best practices as appropriate
• Keep abreast with latest trends related to climate change – regulatory landscape, analytical tools and capabilities, academic research, etc. – with a lens to continually enhance climate risk framework

QUALIFICATIONS

Skills Required

• Bachelors Degree required, Masters preferred in related field (e.g. climate science, economics, engineering, etc.)
• Experience in climate science either through academic qualifications or through work experience
• Minimum 3+ years relevant work experience
• Previous analytics and/ or credit risk management experience (preferred)
• Excellent verbal and written communication, with ability to communicate effectively with senior management and regulators
• Process management and prioritization skills with ability to multi-task in a dynamic environment
• Strong relationship building and stakeholder management skills
• Self-motivated and proactive attitude, with relentless attention to detail
• Strong problem solving and implementation skills

Expected base pay rates for the role will be between $85,000 and $140,000 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.
This role is hybrid and currently requires in office attendance 3 days/week. The in office requirement is subject to change at any time.
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 base 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 the law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet)

Our mission is to serve as the follow roles:

• Independent agent to set consistent principles and disciplines for risk management
• Strategic advisor to Firm management for setting risk appetite and allocating capital
• Industry leader to influence and meet regulatory standard

Primary job responsibilities include:

• Lead the development of methodologies for incorporating climate risk into existing risk management framework, including measuring impact of different climate events and enhancing risk appetite, underwriting, portfolio management, reserves and stress loss projections
• Evaluate new and evolving tools to enhance monitoring and analyses of climate events and associated impact to lending portfolios
• Enhance risk appetite and establish KRIs to monitor impact of climate events and associate exposure and risk to lending portfolios
• Collaborate with Firm-wide stakeholders and stay connected with climate initiatives across the firm, and leverage best practices as appropriate
• Keep abreast with latest trends related to climate change – regulatory landscape, analytical tools and capabilities, academic research, etc. – with a lens to continually enhance climate risk framewor