Role: Associate, Risk Process Validation Group (RPVG)
Location: New York, NY
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Background on the Position
This role will reside within the Firm's Operational Risk Department. Operational Risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets). The Firm may incur operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading) and control groups (e.g., information technology and trade processing).
Primary Responsibilities
The Risk Process Validation Group (RPVG) is an independent validation and verification function across Firm Risk Management Credit Risk, Market Risk, Liquidity Risk and Operational Risk. The team is focused on assessing the integrity of processes and controls within FRM as they support Basel regulatory risk-based capital calculations, Credit Risk and Market Risk, regulatory requirements for Comprehensive Capital Analysis & Review (CCAR), the Advanced Measure Approach (AMA) for Operational Risk.
This opportunity includes working within a team of professionals to validate core FRM processes within Morgan Stanley, specifically processes supporting risk-based capital calculations for Credit Risk, Market Risk and Operational Risk, as well as FRM-owned Capital Planning processes.
Specific responsibilities include:
> Perform independent validations of select Risk processes, including interpretation of FRB and Basel relevant regulations and implementation thereof
> Support execution of governance, risk assessment, process review and validation, monitoring and reporting and technology strategy;
> Leverage testing observations to contribute to improving the team's validation methodology and execution capabilities
> Interface with key stakeholders, governing bodies and business partners to discuss the status of the validation work, results of test work, and quarterly reporting
> Partner with Model Validation and Regulatory Reporting teams to support a unified validation program end-to-end
> Engage with senior colleagues in the broader Firm Risk Division, and in the first line of defense including Firm Third Party Program Management, the business units, and support functions.
> Assess existing and emerging third party risks related to cyber, cloud computing, security and resiliency in a rapidly evolving threat environment.
Experience Required
> Three to seven years of financial services experience;
> Strong risk, process and control validation/testing and/or assessment skills;
> A prior role within consulting or internal audit covering risk processes is preferable;
> Strong technical understanding of the financial services regulatory environment, with a focus on Basel principles as it relates to Capital and Federal Reserve Capital Planning capital requirements and practices;
> Strong communication, analytic, risk management, and computing skills;
> Basic understanding of data lineage; advanced Excel knowledge; experience with writing or editing SQL, VBA and/or other data analytics and data visualization tools and systems (e.g Dataiku and/or Tableau; experience working with large data sets; knowledge of general IT controls; business analyst experience
> An undergraduate degree (B.A., B.S., or equivalent) required
Experience Preferred
> Experience with core banking, investment and trading products, regulations and typologies;
> A prior role within SOX/financial statement audit, consulting or internal audit covering risk process is preferable;
> Strong technical understanding of the financial services regulatory environment, with a focus on Basel principles as it relates to Capital and Federal Reserve Capital Planning capital requirements and practices
Morgan Stanley is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views.
Expected base pay rates for the role will be between 85000 and 140000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan 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).