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.
Operational Risk Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent and comprehensive program for managing operational risk, both within each area and across the firm globally. Operational risk is the risk of financial loss or other potential damage to the firm’s reputation due to inadequate or failed internal processes, people, systems, or from external events. This group designs, implements and monitors the company-wide operational risk program.
Morgan Stanley is seeking a Risk professional for its NA Operational Risk Department (ORD) within Firm Risk Management to assist with maintenance and development of the Firm’s Scenario Analysis program for the principal US legal entities ex Banks. This position will be based in New York (1221 Avenue of Americas). The NY ORD team will work closely with ORD colleagues globally. It is divided into the following core functions:
· Risk Management & Coverage.
· Capital Framework, Reporting & Analytics.
· Assessments, Framework and Data.
Our Scenario Analysis program is a key component of capital estimation, risk assessment and risk management. The key components of the program are:
· Pre Workshop Preparation.
· Scenario Analysis Training.
· Briefing packet preparation.
· Independent analysis of risk exposures.
· Workshop execution.
· Post Workshop.
· Documenting and presenting outcomes for responsible management.
· Consolidation of results for OR modeling.
Specific responsibilities include:
· Assist in the facilitation and execution of Scenario Analysis workshops.
· Prepare pre and post Scenario Analysis documentation.
· Carry out deep dives into material operational risk events and analysis of thematic operational risks for Scenario Analysis use.
· Assist in the enhancement of the Scenario Analysis program to meet regulatory requirements and to inform effective risk management, including systems testing.
· Enhance/build solid relationships with key Scenario Analysis stakeholders.
· Development of Stress Testing and Reverse Stress Testing Scenarios
· Assist in various regulatory projects such as CCAR.
Skills Required (Essential)
· Strong people skills. Ability to work well and influence others across first, second and third line defense.
· Strong facilitation skills. Confidence to lead workshop and influence with senior business and control group representation
· Strong organization skills with the ability to multitask and prioritize; ability to work under pressure and to tight deadlines.
· Flexibility – willingness to work on associated initiatives to deliver the OR framework.
· Ideal work experience in operational risk/control based roles.
· Strong understanding of the top operational risks of an investment bank
· Understanding of operational risk regulation, highly desirable, but not essential.
· Ability to work in a small team environment, building and maintain a network of contacts.
· Knowledge of operational risk modeling and AMA frameworks an advantage, but not essential.
· Bachelor’s degree or equivalent, ideally in a quantitative discipline, Finance, Economics or similar.