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Form of workMorgan Stanley Services Group, Inc. seeks a Vice President, Legal and Compliance in New York, New York Liaise with Model Risk Management and model owners on model governance, including model inventory, validation, and remediation of identified model limitations. Draft and review documentation surrounding the design of models within and establish ongoing monitoring controls while collaborating with quantitative analysts and subject matter experts in efforts to develop, or enhance, models.
Assist in the development, maintenance, enhancement, and optimization of various models, including models used for customer risk ranking, transaction monitoring, and sanctions screening which may include machine learning or artificial intelligence. Maintain existing models by executing, and/or overseeing, qualitative analyses associated with ongoing monitoring, periodic assessments, above-the-line testing, below- the-line testing, and tuning. Conduct internal and external research surrounding new trends in modeling approaches, perform gap analysis with existing model controls, provide proposals, and assist stakeholders in implementing proposed solutions.
Perform root-cause analyses associated with potential anomalies detected in model performance. Oversee the Model Risk Framework and supporting controls that have been implemented for models used in support of key business processes, promoting consistency across business lines and regions in the day-to-day implementation of the program. Prepare periodic and ad hoc metrics reports for senior management and regulators, including through the evaluation and enhancement of existing metrics and supporting processes.
Track and report model changes and results of model tuning and optimization activities to advisory heads, the Model Risk Management, and the Internal Audit groups. Participate in Firm, Division, and Compliance Committees. Salary: Expected base pay rates for the role will be between $278,000.00 and $278,000.00 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. Requirements: Requires a Bachelor's in Engineering (any), Risk Management, or a related field of study and five (5) years of experience in the position offered or five (5) years as a VP Independent Model Review, or similar occupation. Requires five (5) years of experience with: Applying financial crime compliance concepts, including anti-money laundering, sanctions, and trade surveillance concepts; Validating financial crime compliance models; Applying econometrics and statistical techniques for model risk management; Applying model risk management regulatory guidelines published by federal regulators; Interacting with external regulators including the Federal Reserve Bank (FRB) and Office of the Comptroller of Currency (OCC); and Interacting with internal stakeholders, including Internal Audit.
Qualified Applicants: To apply, visit us at https://ms.taleo.net/careersection/2/jobsearch.ftl?lang=en Scroll down and enter 3237635 as the "Job Number" and click "Search jobs." No calls please. EOE
