FRM Model Control Office – Governance and Controls Specialist, Director, Firm Risk Management
- Mumbai, Maharashtra
- Permanent
- Full-time
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 Management's (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
- 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
- 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