Global Financial Crimes Model Risk

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.

You will collaborate with colleagues across FRM and the Firm to protect the Firm's 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 Management's 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

Background on the Position:

This role will reside within Firm Risk Management's Model Risk Management team responsible for the Firm's management of model risks related to the implementation and use of Fraud and Financial Crimes models and tools. This position requires strong risk management mindset, proven subject matter expertise in financial crime regulatory requirements and model validation, and excellent technical, leadership, and organizational skills.

Primary Responsibilities
Oversee and guide 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 Anti-Money Laundering (AML) models, sanctions screening, and fraud, compliance and surveillance.

Challenge the model validation team on model risk management practices for fraud and financial crimes models, and on subject matters essential to validating these models.

Understand the use and effectiveness of fraud financial crimes models and tools within the context of relevant Firm businesses

Communicate model and tool validation conclusions to relevant stakeholders and engage relevant 1LOD and 2LOD functions to adequately resolve identified model issues. Escalate delays in issues remediations, and broker the implementation of effective mitigating controls to manage model risks.

Review model and tool review reports and ensure high-quality content and conclusions, and oversee and train the validation team in writing such reports.

Proactively identify and escalate thematic and idiosyncratic model and tool risk themes. Engage with 1LOD and 2LOD stakeholders to develop effective solutions to manage fraud financial crimes model risks including evolving the model risk management practices such as performance monitoring and change management

Own and deliver on high-profile, time-sensitive deliverables with minimal 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 Experience Required
> 15 or more years in fraud and financial crimes models and/or relevant domain

> Deep understanding of AML regulations and compliance requirements, and AML model risks.

o Working knowledge of industry landscape of fraud and financial crimes modeling approaches including vendor models

o Experience working with model vendors to obtain sufficient information and analysis regarding proprietary models to perform model validations and manage model risks.

o Knowledge of fraud and financial crimes monitoring processes for digital banking or trading is a plus.

o Regulatory experience is a plus

> Knowledge of database management systems

> Experience engaging with regulators and internal audit on topics related to fraud and financial crimes models

Skills Required
> Masters degree in IT, Computer Science, Math, or Statistics. The following degrees or certifications, or experience are a plus:
o Financial crimes prevention, Criminal Justice, Forensic Accounting
o Certified Anti Money Laundering Specialist (CAMS) certification
o Certified Transactions Monitoring Associate (CTMA) certification
o Certified Fraud Examiner (CFE) certification
o Experience building or using fraud financial crimes models, and assisting in investigations

> Risk-oriented mindset including effective risk prioritization, critical and analytical questioning, and ability and willingness to speak up.

> Strong written and verbal communication skills. Must be comfortable leading meetings and engaging with senior leaders in the Firm.

> Ability work in a dynamic, fast-paced, high-pressure, environment

> Experience managing and leading a global team

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 85 years. At our foundation are five core values — putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back — that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. 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.

We're committed to bringing passion and customer focus to the business.

Salary range for the position: $155,000 - $240,000/ Yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. Morgan Stanley offers a full spectrum of benefits, including Medical, Prescription Drug, Dental, Vision, Health Savings Account, Dependent Day Care Savings Account, Life Insurance, Disability and Other Insurance Plans, Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and X Vacation Days annually), 10 Paid Holidays, 401(k), and Short/Long Term Disability, in addition to other special perks reserved for our employees. Please visit mybenefits.morganstanley.com to learn more about our benefit offerings.

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).