Model Risk Management - Financial Crimes Models - VP at Morgan Stanley

New York, New York, United States -

Full Time

Start Date

Immediate

Expiry Date

18 Feb, 26

Salary

205000.0

Posted On

20 Nov, 25

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Model Risk Management, Financial Crimes Models, AML Regulations, Data Quality Assessment, Statistical Software, Data Mining, Machine Learning Techniques, Model Validation, Risk Management, Regulatory Engagement, Report Writing, Training, Critical Thinking, Analytical Skills, Communication, Stakeholder Engagement

Industry

Financial Services

Description

Lead and perform independent model reviews compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring for Firm's financial crimes models including customer risk ranking, transactions monitoring and sanctions screening models. o Understand the use and effectiveness of financial crimes models within the context of relevant Firm businesses. o Communicate model and tool validation conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial actions to effectively resolve identified model issues. Track progress against model issue remediation actions and take appropriate review actions to resolve. o Write comprehensive and high-quality review reports for models and tools validated, and oversee and train the model validation team in writing such reports. Proactively identify and escalate thematic and idiosyncratic risk themes related to the models and tools under the coverage area. Engage with relevant stakeholders in identifying effective approaches to managing such risks. Support high-profile, time-sensitive deliverables with limited supervision Establish and sustain productive relationships with model stakeholders in 1LOD, 2LOD and 3LOD Represent the Model Risk Management team in interactions with Internal Audit department and with regulatory agencies as required 10 or more years in validating Financial Crimes models Deep understanding of AML regulations and compliance requirements, and AML model risks. o Experience working with financial crimes models and tools including vendors solutions. o Knowledge of financial crimes monitoring processes for digital banking or trading is a plus. Experience with below the line threshold tuning, and data analysis including data quality assessment Proficiency in statistical software packages, data mining and machine learning techniques Experience engaging with regulators and internal audit on topics related to financial crimes models Masters degree in IT, Computer Science, Math, or Statistics. o Financial crimes prevention, Criminal Justice, Forensic Accounting o Certified Anti Money Laundering Specialist (CAMS) certification Ability work in a dynamic, fast-paced, high-pressure, environment 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. 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. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Expected base pay rates for the role will be between $120,000 and $205,000 year at the commencement of employment. 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. o Experience building or using financial crimes models, and conducting financial crimes investigations Risk-oriented mindset including effective risk prioritization, critical and analytical questioning, and ability and willingness to speak up.

Responsibilities

Lead and perform independent model reviews for the Firm's financial crimes models, ensuring compliance with policies and regulatory guidance. Communicate validation conclusions to stakeholders and develop remedial actions for identified model issues.