Quant Research and Model Risk - Vice President

at  Morgan Stanley

Quant Research and Model Risk - Vice President
Job Number:

3257229
POSTING DATE: Aug 8, 2024
PRIMARY LOCATION: Americas-United States of America-New York-New York
OTHER LOCATIONS: Americas-United States of America-Massachusetts-Boston
JOB: Asset/Investment Management
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Vice President

DESCRIPTION

Morgan Stanley Investment Management (MSIM) is one of the largest global asset management organizations of any full-service securities firm, with more than 40 years of history, a presence in 24 countries, and a total of $1.5 trillion in assets under management as of March 31, 2024. MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
Quantitative Research and Model Risk team is part of the first line BU risk management and analysis team that is responsible for developing leading quantitative solutions to support risk management of the funds and business as whole, and centrally support model risk management for the business. The team has strong partnerships with Investment Teams, Firm model risk, Valuation, Technology and Trading.
We are looking for an experienced model governance specialist who has fluid understanding of the markets, investment management, model development, model controls and risks related to the implementation and use of models to join our team.
This position requires strong technical, leadership, and organizational skills.
We are a very diverse team supporting the business in effective management of model risks in investment process.
Key Responsibilities
Support and shape model governance initiatives and strategy setting for model risk management
Represent the Quantitative Research and Model Review (QRMR) team as the IM model control function across MSIM and at firm level on model risk management discussions
Be the primary representative of the business at firm level discussions on systems and infrastructure initiatives
Ensure model documentation is in line with regulatory guidance and Model Risk Management policies pertaining to OCC 2011-12, SR 11-7, PRA SS 1/23 and other related standards and regulations
Work collaboratively with model owners and developers as the advisory function across business units on model documentation and to ensure models are developed and maintained in accordance with firm policies and procedures
Support the model limitation process through recommending appropriate enhancements.
Assume a key role in developing frameworks for model risk assessments, model change control and ongoing model performance monitoring
Work closely with 2nd line Model Risk Management team to ensure appropriate approach for model risk assessment is being applied and ensure timely closure of key deliverables on model risk management
Analyze, assess and document IM models and their performance
Perform model review including analysis of adequacy of testing and propose model testing strategies as required for Investment Management (IM) models, such as portfolio construction, research, risk, valuation, AI and advanced statistical models
Represent QRMR in external/regulatory and internal/audit requests and exams with regards to model governance and controls
Primary curator and support for the IM Model Control Committee and other model control related updates for different committees

QUALIFICATIONS

Qualifications
5 years or more of relevant experience in the financial services industry with experience in model development/review.
Preferable a Master’s degree or higher in a quantitative discipline (such as Mathematics, Statistics, Engineering, Computer Science, Computational Finance, Mathematical Finance, or related fields)
Fluid understanding of financial markets, economics, product valuation and portfolio management concepts
Understanding of model strengths and weaknesses, blind spots and risks related to the implementation and usage
Experience in leading conversations with firmwide risk Committees as well as with model risk management function is preferable.
Experience with model development in at least one of these fields is required: risk models, pricing models, machine learning, algo trading, investment strategy or business decision support
Familiarity with essential quantitative techniques used in financial models.
Experience in presenting to senior stakeholders in committee and forums.
Familiarity in vendor risk systems such as RiskMetrics, BlackRock Aladdin, MSCI/Barra, Yield Book, SunGard APT is a plus
Programming skills in statistical packages such as R, Python or Matlab and familiarity with SQL database systems such as Sybase, MS SQL, etc.

Please refer the Job description for details