Logo of Huzzle

Home

Matches

Explore

Manage

Associate, Model Risk (Risk Management)

image

Morgan Stanley

28d ago

  • Job
    Full-time
    Mid & Senior Level
  • Data
    Banking & Finance
  • New York

AI generated summary

  • You need a Master's/Ph.D. in a quantitative field, 3-6 years in finance, knowledge of mathematical finance, experience with pricing models, and strong communication skills. Programming experience is a plus.
  • You will validate pricing models, test accuracy, assess model risks, communicate findings, collaborate with teams, and engage with regulators for timely submissions.

Requirements

  • Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field
  • In-depth knowledge of mathematical finance, derivative pricing, and numerical techniques
  • The ideal candidate has strong experience with valuation models gained at a financial institution
  • Relevant working experience of 3-6 years
  • Experience developing pricing and risk models using Python, R or C++ is a plus
  • The ability to effectively communicate with a wide range of stakeholders, both written and verbally
  • An interest in working in a fast-paced environment, often balancing multiple high priority deliverables

Responsibilities

  • Conduct model validation for pricing models by challenging model assumptions, mathematical formulation, and implementation
  • Conduct independent testing to assess model accuracy and robustness under different scenarios and market conditions
  • Assess and quantify model risks due to model limitations and develop compensating controls
  • Highlight risks and limitations of models and communicate findings to stakeholders, senior management, and governance committees
  • Collaborate with Global MRM teams, Model Control Officers, Valuation Control and Risk Managers to manage model risk across the model lifecycle
  • Assist in cultivating and managing effective relationships with regulators by providing accurate and timely submissions

FAQs

What is the primary responsibility of the Associate in Model Risk position?

The primary responsibility includes conducting model validation for pricing models, assessing model accuracy and robustness, quantifying model risks, highlighting risks and limitations, and collaborating with various teams to manage model risk across the model lifecycle.

What educational qualifications are required for this position?

A Masters or Ph.D. degree (or equivalent) in Finance, Economics, Mathematics, Physics, Engineering, or a related quantitative field is required.

How much relevant work experience is expected for the role?

Relevant working experience of 3-6 years is expected for this position.

What skills are beneficial for this role?

In-depth knowledge of mathematical finance, derivative pricing, and numerical techniques, along with experience developing pricing and risk models using Python, R, or C++, are beneficial for this role.

How does this position support communication with stakeholders?

The candidate should have the ability to effectively communicate findings with a wide range of stakeholders, both written and verbally.

What kind of work environment can candidates expect?

Candidates can expect a fast-paced environment that often requires balancing multiple high-priority deliverables.

Will there be opportunities for continuing education or development within the firm?

Yes, Morgan Stanley is committed to supporting the professional development and growth of its employees.

What is the expected salary range for this role?

The expected base pay rates for the role will be between $85,000 and $140,000 per year at the commencement of employment, but the final compensation will be individualized.

Does Morgan Stanley offer diverse employee benefits?

Yes, Morgan Stanley offers some of the most attractive and comprehensive employee benefits and perks in the industry.

Is Morgan Stanley committed to diversity and inclusion in its workforce?

Yes, Morgan Stanley is dedicated to building and maintaining a diverse workforce and ensuring equal employment opportunity without discrimination or harassment.

image

Morgan Stanley

Finance
Industry
10,001+
Employees
1935
Founded Year

Mission & Purpose

Morgan Stanley mobilizes capital to help governments, corporations, institutions and individuals around the world achieve their financial goals. For over 85 years, the firm’s reputation for using innovative thinking to solve complex problems has been well earned and rarely matched. A consistent industry leader throughout decades of dramatic change in modern finance, Morgan Stanley will continue to break new ground in advising, serving and providing new opportunities for its clients. Morgan Stanley is committed to maintaining the first-class service and high standard of excellence that have always defined the firm. At its foundation are five core values — put clients first, do the right thing, lead with exceptional ideas, commit to diversity and inclusion, and give back — that guide its more than 70,000+ employees across 41 countries.