Vice President - Counterparty Credit Stress Testing (Credit Risk Management)

Employer
Morgan Stanley
Location
New York, USA
Salary
Competitive
Posted
Jan 06, 2021
Closes
Jan 21, 2021
Ref
9690591
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Morgan Stanley
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.

The talent and passion of our people is critical to our continued success as a firm. Together, we share five core values rooted in integrity, excellence and strong team ethic:
1. Doing the Right Thing
2. Putting Clients First
3. Leading with Exceptional Ideas
4. Committing to Diversity and Inclusion
5. Giving Back

Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.

Firm Risk Management
Firm Risk Management (FRM) enables 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, operational, model and other risks.

Our mission is to serve as the follow roles:
• Independent agent to set consistent principles and disciplines for risk management
• Strategic advisor to Firm management for setting risk appetite and allocating capital
• Industry leader to influence and meet regulatory standards

You will collaborate with colleagues across FRM and the Firm to protect the Firm's capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication we are best able to bring our ideas to the table and improve the Firm.

Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.

Firm Risk Management's unique franchise promotes:
• Flat, flexible and integrated global organization
• Collaboration and teamwork
• Credible, independent decision-making
• Organizational influence
• Creative and practical solutions
• Meritocratic and diverse culture

Department Profile
Firm Risk Management (FRM) enables 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, operational, model and other risks. The firm's Credit Risk Management Department (CRM) within FRM protects the firm from exposure to losses resulting from defaults by our lending and trading counterparties.

Background on the Team
The Counterparty Stress Testing team plays a key role within the Credit Risk Management Department. The team spans the entire counterparty portfolio (i.e. all products and counterparty types) and is responsible for executing various internal and external scenario analyses on a recurring and ad-hoc basis. The insights from these analyses are used to inform risk management decisions and the efficient allocation of financial resources. The team also plays a key role in FRM's Risk Identification and Scenario Design processes.

Background on the Position
The Vice President, based in New York, will play a leadership role within the Counterparty Risk Stress Testing team within Credit Risk Management. Specific responsibilities include:
• Oversee the Risk Identification process for Counterparty Credit Risk

• Perform analyses highlighting vulnerabilities in the portfolio to inform Scenario Design

• Lead execution and coordination of regulatory and internal scenario analyses

• Participate in development and execution of ad-hoc stress testing exercises

• Help to further drive adoption of stress testing into BAU risk management frameworks

• Create and deliver presentations articulating stress testing results to various governance forums and to senior management

• Deliver improvements to the stress testing infrastructure by working closely with Risk Analytics, IT and Market Risk

Qualifications:

Skills Required
• 7+ years of experience in Risk Management at a large financial institution; direct experience in Counterparty Stress Testing strongly preferred

• Bachelor's degree in Finance, Computer Science, or Engineering related; CFA and/or FRM or PRM preferred

• Solid technical skills, including Excel and comfort working with large datasets via SQL

• Detailed knowledge of products that generate Counterparty Credit Risk: OTC derivatives (Rates, FX, Credit, Equities, Commodities) & Securities Financing Transactions

• Excellent organization skills and keen attention to detail is a must-have

• Demonstrated ability to deliver in a dynamic work environment under tight deadlines

• Strong verbal and written communication skills, including delivering effective presentations

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