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Model Risk Management - Financial Crimes Models - VP

Model Risk Management - Financial Crimes Models - VP

Morgan StanleyBaltimore, MD, United States
4 days ago
Job type
  • Full-time
Job description

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services.

The Talent And Passion Of Our People Is Critical To Our Continued Success As a Firm. Together, We Share Four Core Values Rooted In Integrity, Excellence And Strong Team Ethic

  • Putting Clients First
  • Doing the Right Thing
  • Leading with Exceptional Ideas
  • Giving Back
  • Committing to Diversity and Inclusion

Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.

Firm Risk Management 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.

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 Financial Crimes models and tools.

Primary Responsibilities

  • Lead and perform independent model reviews compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices.
  • Understand the use and effectiveness of financial crimes models within the context of relevant Firm businesses.
  • Communicate model and tool validation conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial actions to effectively resolve identified model issues.
  • Write comprehensive and high-quality review reports for models and tools validated, and oversee and train the model validation team in writing such reports.
  • Proactively identify and escalate thematic and idiosyncratic risk themes related to the models and tools under the coverage area.
  • 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

  • 10 or more years in validating Financial Crimes models
  • Deep understanding of AML regulations and compliance requirements, and AML model risks.
  • Experience working with financial crimes models and tools including vendors solutions.
  • Knowledge of financial crimes monitoring processes for digital banking or trading is a plus.
  • Regulatory experience is a plus
  • Experience with below the line threshold tuning, and data analysis including data quality assessment
  • Proficiency in statistical software packages, data mining and machine learning techniques
  • Knowledge of database management systems
  • Experience engaging with regulators and internal audit on topics related to financial crimes models
  • Skills Required

  • Masters degree in IT, Computer Science, Math, or Statistics.
  • Certified Anti Money Laundering Specialist (CAMS) certification
  • Certified Transactions Monitoring Associate (CTMA) certification
  • Experience building or using financial crimes models, and conducting financial crimes 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.
  • Ability work in a dynamic, fast-paced, high-pressure, environment
  • Experience with team leadership
  • Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M / F / Disability / Vet).

    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.

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    Model • Baltimore, MD, United States

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