[size=1.6em]Vice President/Associate, Process and Data Validation

[size=1.6em]Job Number:[size=1.6em]: [size=1.6em]3030786
[size=1.2em]Posting Date[size=1.2em]: [size=1.2em]Jul 24, 2014
[size=1.2em]Primary Location[size=1.2em]: [size=1.2em]Americas-United States of America-New York-New York
[size=1.2em]Job[size=1.2em]: [size=1.2em]Credit Risk
[size=1.2em]Employment Type[size=1.2em]: [size=1.2em]Full Time
[size=1.2em]Job Level[size=1.2em]: [size=1.2em]Associate
[size=1.2em]Description

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Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for

building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

Risk Management

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.

Credit Risk

Credit Risk Management (CRM) evaluates credit risk transactions and approves, rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions.

This VP/ Associate position will give the right candidate a Managing Director’s perspective on the firm’s capital budgeting and allocation process.  

The Risk Management Validation team is responsible for analyzing, understanding, and verifying all data and processes supporting the regulatory risk-based capital estimates. We help senior management understand how reliable the capital numbers that come out of various capital engines are, and iteratively improve the processes of producing them.  Usually, this type of work goes to specialized consultants, but we think it’s too mission-critical and too cutting-edge to be outsourced.  We are looking for a candidate to cover credit risk capital.  This is an opportunity to add real value to the firm, by helping the firm improve its processes.  Along the way, you will learn how Basel guidance translates into regulatory policy; how policy becomes a specific process; and how that guidance boils down to a specific number.

Responsibilities

·         Work with Regulatory Policy to understand Basel requirements and evaluate the appropriateness of rules application to specific capital process

·         Work closely with subject matter experts within relevant groups; understand the current capital process and relevant dependencies.

·         Figure out the best way to verify process effectiveness, obtain relevant data and carry out the analysis.

·         Discuss the results with relevant groups, exercise sound judgments and draw independent conclusions.

·         Figure out the remediation plans with process owners and senior management  

·         Document and present validation results to senior management and regulators.

·         Coordinate with other firm-wide validation teams to understand how our processes fit into the overall flow data and checks.

Skills Required

·       Problem solver, big picture thinker who does not lose sight of details, passionate about learning, process building orientation, excellent communicator!

·         5+ years of working experience in financial industry

·         Can demonstrate excellent understanding of Credit or Market risk processes where the candidate has prior experience

·         Awareness of Basel rules and familiarity with some capital process is very helpful

·         Ability to construct SQL queries to perform data mining and analyses and to use advanced Excel functions and Pivot tables

·         Ability to work thoughtfully and independently and manage multiple projects.

·         Excellent follow through skills.

Skills Desired:

·         Experience of interacting with regulators, Master’s degree, CFA or FRM