Background on the TeamRecognizing the increasing importance sound model risk practices, the Firm's Legal and Compliance Division (LCD) has established a centralized Model Risk Control (MRC) function within its Data & Analytics group in support of Morgan Stanley's ongoing commitment to comply with regulatory expectations surrounding model risk management. Among other functions, the LCD MRC team manages and oversees the LCD Model Risk Framework and supporting controls that have been implemented for models used in support of key LCD business processes, promoting consistency across business lines and regions in the day-to-day implementation of the program.Primary ResponsibilitiesThe LCD Sr. Model Risk Specialist is an individual contributor role that will perform the following:Model Risk Management ActivitiesDraft documentation surrounding the design of models within LCD and establish ongoing monitoring controls while collaborating with quantitative analysts and subject matter experts in efforts to develop, or enhance, modelsAssist in the development, maintenance, enhancement, and optimization of various models, including models used for customer risk ranking, transaction monitoring, and sanctions screening which may include machine learning or artificial intelligenceMaintain existing LCD models by executing, and/or overseeing, qualitative analyses associated with ongoing monitoring, periodic assessments, above-the-line testing, below-the-line testing, and tuningAssist with adding, editing and identifying new models, documenting model changes, and reconciling model inventory informationConduct internal and external research surrounding new trends in modeling approaches, perform gap analysis with existing model controls, provide proposals, and assist stakeholders in implementing proposed solutionsPerform root-cause analyses associated with potential anomalies detected in model performance or as part of below-the-line testingDocument, or oversee, the analyses, recommendations, and rationales for each activity related to the modelsReporting ResponsibilitiesAssist in the preparation of periodic and ad hoc metrics reports for senior management, MS Boards and regulators, including through the evaluation and enhancement of existing metrics and supporting processesTrack and report model changes and results of model tuning and optimization activities to LCD advisory heads, the Model Risk Management, and the Internal Audit groupsParticipate in Firm, LCD, and Compliance CommitteesOther ActivitiesParticipate in special projects impacting various areas within LCDMaintain awareness of current industry rules, regulations, and best practicesDraft and update policies and procedures, as needed #LI-SK1Skills Required (essential)Candidates must possess:A bachelors 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.5 - 7 years of professional experience within the banking industry or within project management broadlyKeen written, interpersonal communication, and presentation skills coupled with scrupulous work productOpenness to receiving and applying feedback on work product from peers and supervisor(s)Strong analytical thinking and critical reasoning skills, with the ability to be self-motivated and work independentlySkills DesiredThe Firm's ideal candidate will have:An understanding of Fed SR 11-7/ OCC Bulletin 2011-12 on Model Risk ManagementAn understanding of models, financial markets, and banking, including retail and/or broker-dealer product knowledgeMorgan 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).#LI-SK1
