FRM Model Control Office Governance And Controls Specialist Director Firm Risk Management

Morgan Stanley

Governance & Reporting Specialist – Associate/ Director

Profile Description

We’re seeking someone to join our team as a [Associate/ Director] to [FRM Model Control Office – Governance and Reporting Specialist]

Firm Risk Management

In the Firm Risk Management division, we advise businesses across the Firm on risk mitigation strategies, develop tools to analyze and monitor risks and lead key regulatory initiatives.

Company Profile

Morgan Stanley is an industry leader in financial services, known for mobilizing capital to help governments, corporations, institutions, and individuals around the world achieve their financial goals.

Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

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.

Morgan Stanley Budapest is an integral part of the Firm’s global critical business functions including Technology, Finance, Risk, Institutional Securities and Wealth Management. Morgan Stanley has been rooted in the Budapest community since 2006 and is considered a leading employer among the area’s highly skilled talent.

Our innovative team delivers deep technical and mathematical expertise to support the Firm’s capabilities in quantitative analysis, data analysis, and risk management. We are relentless collaborators and creative thinkers, fueled by our diverse backgrounds and experiences. We believe in empowering individuals to advance their careers through exposure to innovation, hands-on collaboration and enriching learning and development opportunities.

Background on the Position

The role will reside within Firm Risk Managements (FRM) Risk COO function, in the Model Control Office (MCO) team. The FRM MCO team oversees the FRM model and tool risk governance, to align with model risk management principles instituted by regulatory authorities and adopted by the Firm.

The MCO team works closely with global teams across multiple risk and capital areas, and focuses on relevant policy, procedures, governance implementation and controls. MCO team is responsible for Model, Tool and EUC population identification, inventory management, development and review oversight, appropriate model and tool usage, attestations and risk assessments, and ensuring end-user computing (EUC) controls. The team monitors key risks during model and tool lifecycle, issues with EUC management, and conducts related reporting and escalation to key stakeholders across risk stripes. The team is also responsible for training developers & users, and influences inventory infrastructure.

The ideal candidate possesses banking/financial services/consulting experience. Familiarity with financial products, risk management, governance, and controls and any previous experience with project management and reporting is preferred.

What You’ll Do In The Role

Primary Responsibilities will include:

Credit Risk Model and Tool Governance

• Working closely with global Credit Risk and Analytics teams
• Credit Risk Model/Tool Identification, Pipeline Management, Inventorying
• Credit Risk Model/Tool Submissions, Review, Change Management
• Regulatory Approval tracking
• Model/Tool Issue Management and Usage
• Assisting with Regulatory & IAD requests
• Credit Risk Committees membership, oversight and reporting
• Developer and Owner action oversight, communication and troubleshooting
  
  

General Model and Tool Infrastructure, Controls, Training

• Infrastructure Management for Model and Tool inventory design
• Developing training material on Model/Tool lifecycle, and Inventory features for Developers and Users
• Policy Controls such as Semi-Annual Attestations, Annual Model & Tool Risk Assessments
• Assisting with strategic project management due to policy, regulatory or industry changes
  
  

Skills Required (essential)

What you’ll bring to the role:

• Experience in risk, data, governance, project management or consulting in financial services
• Ability to work independently and problem solve
• Detail oriented with exceptional organizational skills
• Ability to work effectively on multiple projects under tight deadlines
• Good working knowledge of MS Excel, PowerPoint, Word, and SharePoint
• Excellent verbal and written communication skills, with the ability to communicate with senior stakeholders
• Strong relationship building skills
• Self-motivator and team player who brings a "can-do" approach
  
  

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 whats 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 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.

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