Associate – Scenario Analytics

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

The cornerstone of Morgan Stanley’s risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley’s capital base and franchise. Risk Management protects the firm from exposure to losses resulting from defaults by our lending and trading counterparties.

Background on the Group

Morgan Stanley's Risk Analytics department that resides within Firm Risk Management (FRM) performs quantitative analysis on the Firm's Credit, Market, Operational, and Liquidity risk exposures. The department’s primary objective is to measure and project risks across the Firm to support executive decisions and protect the Firm. Risk Analytics has main presence in New York and London, also attracts talent in Budapest and Mumbai.

The Scenario Analytics team is a part of the Risk Analytics division. It is a methodology team responsible for scenario design and macroeconomic forecasting for budgeting, and internal and regulatory stress testing exercises (e.g., CCAR and DFAST) conducted by the firm.

Job Description

Risk Analytics has an opening for an associate-level person to work on model development. The successful candidate will work extensively with credit risk models involving CCAR, CECL and climate scenario analysis. The successful candidate will have strong analytical skills, an excellent work ethic and a high degree of interest in both quantitative and non-quantitative aspects of financial risk management. An ideal candidate would –

• Quickly develop a deep understanding of Morgan Stanley’s credit risk analytics models.
• Participate in research, development, and implementation of credit risk models
• Perform econometric analyses to support methodology development
• Support backtesting, stress testing, scenario analyses and sensitivity studies
• Analyze model changes and perform data analyses for various purposes including model improvement.
• Partner with teams across Risk Analytics, technology, model risk management, credit risk officers and other teams throughout FRM and the Firm.
• Create new scenario design capabilities to translate emerging climate risk to economic scenarios

Skills Required 

• Up to 5 years of work experience in quantitative modeling, Risk Management, algorithmic trading, global markets or any other quantitative/Data Science field.
• The candidate needs to be familiar with statistical techniques viz. Regressions Analysis, Hypothesis testing et al.
• Strong quantitative and analytical skills and ability to work with diverse cultures in a global team.
• Basic knowledge of financial markets and macroeconomics
• Knowledge and hands-on experience in one of the programming languages R, Python, MATLAB, SQL, C# or C++ is strongly preferred.
• Excellent communication skills (Oral and written). Ability to communicate and present logically, precisely and in simple manner, complex and technical issues.
• Attention to detail and ability to work under pressure and cope with a fast moving environment.

Required Qualifications

•  Bachelor’s/master’s degrees in finance, mathematics, physics, econometrics, engineering or other quantitative subjects.
• Candidates should have a strong theoretical foundation in mathematics, quantitative finance and derivatives.
• Knowledge and hands-on experience in programming languages
• Experience in integrating climate risk factors in quantitative risk models

Desirable Skillsets  

• Experience in climate risk modeling
• PRM/FRM, CFA, CQF, SCR certification is an advantage.
• Quantitative modeling experience in Finance/ Data Science
• Understanding of financial institutions regulatory frameworks. Examples include CECL, CCAR, Dodd-Frank and Basel
• Knowledge of risk mitigation practices and experience with Basel II/III/IV rules will be considered advantageous.
• Experience in AI, ML, NLP, Big Data Analytics, Tableau is an advantage

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.

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.