Risk Process Validation Group (RPVG) - Associate

  • Competitive
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • Morgan Stanley
  • 24 May 18 2018-05-24

See job description for details

Company Profile

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.

Department Profile

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.

Risk Process Validation Group is an independent validation and verification function across the several areas of Firm Risk Management (FRM) – Credit Risk, Market Risk, Liquidity Risk and Operational Risk. The team is focused on assessing the integrity of processes within FRM, as they support Basel regulatory risk-based capital calculations, the Allowance for Credit Losses for Credit Risk and Market Risk, regulatory requirements for Comprehensive Capital Analysis & Review (CCAR), the Advanced Measure Approach (AMA) for Operational Risk and assessing ongoing compliance with the Global Operational Risk Management Policies. In addition, the team validates broader Liquidity Risk processes and controls. Validation activities include design (conceptual soundness) and operating effectiveness, including ongoing monitoring and outcomes analysis.

Primary Responsibilities

Morgan Stanley is seeking a dynamic and high performing Associate to complement the firm-wide Risk Process Validation Group (RPVG), specifically focusing on validation of processes supporting Basel-related Capital (Market Risk), Credit Capital (Credit Risk), AMA Framework (Operational Risk), Liquidity Risk and other controls owned and operated by Firm Risk Management (FRM) supporting the Capital Planning framework.

This opportunity includes working within a team of professionals to validate core FRM processes within Morgan Stanley, specifically processes supporting Credit, Market, Operational and Liquidity Risk. The candidate should have strong familiarity with process design and assessment of controls, the various Banking, Financial Holding Company and Basel regulations, as well as the ability and desire to work within a moderate sized team.

Core responsibilities will include:
• Perform independent validations of select Market Risk, Credit Risk, Operational Risk and Liquidity Risk, 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


Skills required (essential)

• Strong academic background, including an advanced degree or equivalent
• Experience with core banking, investment and trading products, regulations and typologies
• Strong risk, process and control validation/testing and/or assessment skills. A prior role within consulting or internal audit covering Credit, Market, Operational Risk or Liquidity Risk processes is preferred
• 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, analytical, risk management, and program management skills required

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents. *LI-CL1