Associate – Credit Risk and CCAR Process Validation
- New York, NY, USA
- Permanent, Full time
- Morgan Stanley USA
- 16 Jan 18 2018-01-16
Associate – Credit Risk and CCAR Process Validation
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.
Morgan Stanley is seeking a dynamic and high performing Associate to complement the firm-wide Risk Process Validation Group (RPVG), specifically focusing on Credit Risk and CCAR Validation.
Risk Infrastructure and Process Validation (RIPV) strategically delivers cross-risk infrastructure initiatives to Firm Risk Management by effectively creating synergies across the division.
SIDM provides solutions to risk-related business needs by leveraging its holistic portfolio of cross-risk infrastructure, projects and data management capabilities. In addition to the project teams, SIDM is responsible for Credit, Market and Liquidity Middle Office functions. The Middle Office manages delivery of complete, accurate and timely data to its internal stakeholders by monitoring, validating, remediating and escalating data quality issues that impact risk and capital reporting across all relevant risk domains.
The Risk Data Aggregation and Risk Reporting PMO is responsible for implementing a Continuous Monitoring process to ensure compliance with the Basel Committee on Banking Supervision (BCBS) 239 Principles.
RPVG is an independent process verification function within FRM focused on reviewing in-scope processes across Credit, Market, Liquidity and Operational Risk. Verification activities are performed to independently assess the adequacy and operating effectiveness of select processes owned and operated within FRM.
Background on the Team
Risk Process Validation Group is an independent validation and verification function across Firm Risk Management (FRM) - 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, 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. Verification activities are performed to independently assess the adequacy and operating effectiveness of select processes owned and operated within Risk.
This opportunity includes working within a team of professionals to validate core FRM processes, specifically processes supporting Credit Risk, including CCAR. The candidate should have strong familiarity with process design and assessment, the various Banking, Financial Holding Company and Basel regulations and the ability and desire to work within a moderate sized team.
· 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
· Two to four years of financial services experience
· 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 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;
· Advanced Excel knowledge; experience with analyzing, writing or editing SQL and/or VBA; experience working with large data sets including deconstructing data sets and/or their associated queries; knowledge of general IT controls; business analyst experience;
· An undergraduate degree (B.A., B.S., or equivalent) required