Executive Director - Risk Process Validation Group (Firm Risk Management)
Job Number: 3259122
Posting Date: Sep 23, 2024
Primary Location: Non-Japan Asia-India-India-Mumbai (MSA)
Education Level: Bachelor's Degree
Job: Model Risk
Employment Type: Full Time
Job Level: Executive Director
Description
Company Profile:
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.
Firm Risk Management:
Firm Risk Management (FRM) supports 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, model and other risks.
Background on the Position:
Morgan Stanley’s Model Risk Management (MRM) department resides within Morgan Stanley’s Firm Risk Management Division. The Risk Process Validation Group (RPVG) is an independent validation function within MRM. RPVG is responsible for independently assessing select controls and processes related to Market, Credit, Liquidity, Capital and Data Risk that support selected:
- Risk owned regulatory capital and stress testing calculations;
- Risk owned regulatory schedules;
- Risk owned internal reports;
- Risk framework processes (e.g., Credit, Market, Liquidity Risks).
Primary Responsibilities
- Lead the team to perform independent validations of select FRM processes and controls, including those relating to regulatory and Basel requirements;
- Maintain the RPVG Validation Inventory; design the validation program, annual plan and reassess the risk-based prioritization approach;
- Manage and supervise the execution of reviews (e.g., planning, documenting, reporting) and continuous monitoring activities (e.g., risk assessments);
- Provide review and challenge to all phases of the individual validations; own issue assessment and socialization, finalize validation memo, and review and sign off the validation documentation;
- Present validation plans, issues and observations to senior management and relevant management committees;
- Evolve and enhance the team’s validation methodology and execution capabilities;
- Manage the interface with key stakeholders, governing bodies, and business partners to review status of validation work, results of test work, and quarterly reporting;
- Partner with other independent validation teams, e.g., Model Risk Management, Regulatory Reporting Quality Assurance (RRQA), to support a unified validation program end-to-end;
- Drive the process automation and advanced data analytics initiatives to enhance validation efficiency;
- Manage, coach and develop local teams.
Qualifications
Experience:
• Bachelor’s or higher degree in Finance, Economics, Computer Science, Mathematics, Engineering or other business or risk management related areas
• 12+ years of experience from internal audit, risk management or consultancy covering processes and control validation across risk stripes (e.g., Credit, Market, Liquidity, Capital and Data Risk);
• Experience in process and control validation, data visualization or process automation;
• Proven ability to successfully lead and manage teams and collaborate with global teams;
• Excellent ability to develop partnerships across functions and geographies;
• Strong risk, process, and control validation/testing, and assessment skills;
• Strong communicator with good interpersonal skills with ability to influence broadly across the organization;
• Ability to influence and execute the vision for RPVG globally;
• Pragmatic problem solver and forward thinker;
• Ability to prioritize and manage multiple competing objectives.
Skills:
• Strong understanding banking regulatory environment, including familiarity with Bank of International Settlements (BIS) principles (e.g., Basel III, BCBS 239, FRTB) and FRB Capital Planning requirements and practices (e.g., CCAR, DFAST);
• Experience with core banking, investment and trading products, and banking regulations (e.g., FRB SR 11-07, SR 12-17, SR 14-08, SR 15-18, PRA SS1/23);
• Understanding of data lineage and database schema; experience working with large data sets, data warehouse, or data lake; knowledge of IT general controls; business analyst experience;
• Knowledge and experience with data analytics and data visualization tools and systems (e.g., PowerBI, Alteryx, Dataiku, QlikView, Tableau); experience with writing or editing SQL, VBA , Python and/or other programming languages; advanced Excel knowledge;
• Knowledge and experience with robotic process automation (RPA) (preferred);
• Relevant certifications or designations (e.g., CFA or FRM) (preferred).
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents.
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