Business Analyst-Model Risk

Company Profile
Morgan Stanley is a global financial services firm and a market leader in investment banking, securities, investment management and wealth management services. With offices in more than 43 countries, the people of Morgan Stanley provide our clients with the finest thinking, products and services to help them achieve even the most challenging goals. As a market leader, the talent and passion of our people is critical to our success. We embrace integrity, excellence, teamwork and giving back.

Department Profile
Professionals within the Legal and Compliance Division (LCD) provide a wide range of services to our business units. They might help to structure a complex and sensitive cross-border transaction; advise on a new product introduction; develop a training program or defuse an investor dispute. They preserve the firm's invaluable reputation for integrity and protect the firm from sanctions with policies and procedures that meet regulatory requirements around the world. They also strive to maintain cooperative relationships with governmental policymakers and the regulatory and self-regulatory agencies that govern the firm's businesses.
The Non-Financial Risk (NFR) Department forms the second line of defense for the management of the firm's non-financial risks, including Financial Crimes, market manipulation or abuse, and Operational risk. NFR Data & Analytics, a function in the Legal and Compliance Division, is responsible for designing and optimizing surveillance models, approaches, and tools using advanced analytical techniques like supervised and unsupervised machine learning, and evolving techniques like graph analytics. These surveillances and other tools help identify suspicious and/or illegal behaviors such as money laundering, market manipulation, insider trading, unfair sales or trading practices, and other financial crimes.

Primary Responsibilities

Model Documentation/Monitoring & Oversight
> Draft comprehensive documentation on the design of models within LCD.
> Establish ongoing monitoring controls, collaborating with quantitative analysts and subject matter experts to develop or enhance models.
> Assist in the tuning and optimization of various Financial Crime Compliance (FCC) models, including those used for Trade Surveillances, Transaction Monitoring, and Sanctions screening, potentially involving machine learning or artificial intelligence.
> Support model developers and vendors in performing thorough testing of the models, as well as designing challenger models or compensating controls to ensure optimal model performance.
> Maintain existing LCD models by executing or overseeing qualitative analyses related to ongoing monitoring, periodic assessments, above-the-line testing, below-the-line testing, and tuning.
> Conduct internal and external research on new trends in modeling approaches, perform gap analysis with existing model controls, provide proposals, and assist stakeholders in implementing proposed solutions.
> Perform root-cause analyses associated with potential anomalies detected in model performance.
> Document or oversee the documentation of analyses, recommendations, and rationales for each activity related to the models. Model Governance and Reporting responsibilities
> Manage and maintain the model risk governance framework for FCC models, ensuring adherence to internal Model Risk Management (MRM) policies and regulatory standards (e.g., OCC 2011-12, SR 11-7, PRA SS1/23).
> Assist in the preparation of periodic and ad hoc metrics reports for senior management, including through the evaluation and enhancement of existing metrics and supporting processes
> Track and report model changes and results of model tuning and optimization activities to LCD advisory heads, the Model Risk Management, and the Internal Audit groups
> Liaising with the MRM Group, the Internal Audit Department, Regulatory Bodies, and other stakeholders as needed during reviews, validations, and exams to fulf

Required Skills
> Bachelor's degree with strong academic credentials with a degree in business, economics, finance, management information systems, management, risk management, or related fields from a top tier university.
> At least 4 years’ relevant experience would generally be expected to find the skills required for this role, preferably in Financial Crime Compliance, Model Risk Management, Risk Control, or related domains within Financial Services
> Good understanding of AML, Sanctions, and/or Trade Surveillance models
> Excellent communication and presentation skills, with ability to convey complex technical concepts to non-technical stakeholders
> Strong analytical thinking and critical reasoning skills, with the ability to be self-motivated and work independently
Desired Skills
> An understanding of Fed SR 11-7/ OCC Bulletin 2011-12 on Model Risk Management or related domains in Financial Services
> Curious and eager to stay informed of regulatory developments impacting model risk and financial crime compliance (e.g., AML, Sanctions, Market Abuse etc.)
> An understanding of models, financial markets, and banking
> Proficiency in data analysis tools (e.g., SQL, Python, Excel) and visualization (e.g., Power BI, Tableau) is a plus.
> Experience in defining and owning product roadmaps and their delivery

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 89 years. 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. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. 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.

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).

Expected base pay rates for the role will be between $90,000.00 and $155,000.00 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.

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).