Job Description
Job Number:
3257966
Posting Date:
Sep 6, 2024
Primary Location:
Americas-United States of America-Maryland-Baltimore
Education Level: Bachelor's Degree
Job:
Finance
Employment Type: Full Time
Job Level: Director
Description
About Us:
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, and wealth management services. Morgan Stanley provides a superior foundation for building a professional career - a place for people to learn, achieve, and grow.
This is not a senior leadership position. Ideal candidate will have 5-7 years of experience.
Team Profile:
The Finance Division reports to the Chief Financial Officer and consists of some 3,000 employees worldwide. Finance protects the Morgan Stanley franchise by serving as guardian of the Firm's books and records, and by contributing to firm-wide risk management and risk reduction. This division maintains relationships with Morgan Stanley's various industry and government regulators and also serves as the conduit of financial information to the outside investment community.
The role will reside in the Institutional Securities Finance Group. It is a global team with representation in Glasgow, New York, Baltimore, Budapest, London, and Tokyo. The core functions of the group are Profit and Loss calculations for Business Resource Management, Back testing, and providing guidance and implementing controls to determine suitability of treating activity under credit risk or market risk based on the covered position rules (Banking / Trading).
Back testing is a regulatory requirement as part of the firm's Value at Risk (VaR) based capital approach. The process involves analysis and reporting on a comparison between the firm's economic trading P&L versus the firm's VaR measure. Key clients include the Market Risk Department (MRD) and Regulatory controllers.
Banking/trading is a control/governance process designed to ensure that firm activity is classified correctly for capital purposes. MRC provides oversight on whether activity has been classified correctly and is also pivotal in ongoing compliance with the Basel covered position rules across various jurisdictions. Key clients include MRD, Business Unit, Regulatory Controllers, and the Credit Risk Department.
We offer:
Work in the Finance department of one of the world's top-tier Financial Institutions and gain first-hand insight into our business.
A desirable compensation and benefits package including eligibility for an annual bonus.
Professional development opportunities including access to Morgan Stanley's world-class internal training.
Enriching challenges that provide opportunity for constant learning and advancement.
A supportive and vibrant diverse environment; we are inclusive of individual backgrounds and leverage them to foster our work environment and culture.
You will:
As part of the Market Risk Control organization, the successful candidate will be involved in supporting the ongoing compliance with existing processes and reporting, and in assessing/developing new processes to meet future Regulatory requirements.
Detailed responsibilities include but are not limited to:
Support the delivery of time-sensitive internal and external reports and queries from senior management, auditors, and regulators.
Develop an understanding of the regulatory requirements of VaR Backtesting, and be able to explain how the Firm evidences compliance.
Support the strategic development of Firm systems, partnering with IT teams to explain, prioritize, test, and implement new business requirements (in particular, involving change-the-bank 'Fundamental Review of the Trading Book / Basel III endgame' initiatives).
Challenge processes and procedures to enhance controls and streamline efficiencies.
Assist with the preparation of governance materials and support the maintenance and development of documentation to the standard that can be shared with regulators.
Partner with the wider MRC team both locally and globally on cross-silo initiatives/projects.
Develop and maintain relationships with a range of clients/stakeholders including Product Control, Risk Management, and Regulatory Policy teams.
Qualifications:
You have:
Work experience within large financial services firms or other directly relevant experience (commensurate with role being applied for). An awareness in Financial Markets/products and the Basel Regulatory environment.
Close attention to detail and highly numerate. Strong commitment to developing their own skills. Strong verbal and written communication skills.
Excellent Microsoft Office skills (Excel, Teams, PowerPoint, PowerBi) and be proficient in data mining and investigating complex issues to extract key themes and discover root causes.
The flexibility required to work in a dynamic environment under tight deadlines taking accountability and ownership for multiple deliverables.
High level of guardianship - ensuring that exceptions are identified, resolved, and escalated on a timely basis.
Track record of proactively driving projects forward and working closely with IT development teams to deliver change.
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