CAIA's Career Center is an easy-to-use, comprehensive resource connecting job seekers with employers in the growing AI field. Use your knowledge and credibility to advance your career or build a talented team for your organization. Opportunities targeted to CAIA Charterholders are prioritized.
In order to search for jobs specifically for CAIA Charterholders or those pursuing the CAIA Charter please enter “CAIA” in the search panel.
This will enable you to search for CAIA specific roles globally.
Executive Director – Pricing Model Validation, Equities, Investment Management, or Securitized Products
Morgan Stanley USA
January 10, 2018
New York, New York
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.
The cornerstone of Morgan Stanley's risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley's capital base and franchise. Risk Management protects the firm from exposure to losses resulting from market volatilities and defaults by our lending and trading counterparties.
Background on the Position
Morgan Stanley is seeking a strong quantitative candidate to join its Model Validation group within Model Risk Management (MRM). The Model Risk Management (MRM) plays a pivotal role in the development and maintenance of an effective model risk management framework across the firm which has received heightened focus from senior management and our regulators. Currently, the Model Validation group has an opening for a highly motivated individual to review and validate cutting edge investment, wealth management, and securitized product models used by both front office and capital planning. This individual will work closely with the various groups within the firm, including but not limited to model owners in front office, risk managers, etc.
-Provide independent review and validation of wealth management and securitized product models. This requires extensive knowledge of statistics and data analysis. Good understanding of various numerical techniques commonly used for model implementation is also important. -Closely work with other teams within the firm to provide regular ongoing model performance assessments. Review analysis results with senior management and provide recommendations. -Write high-quality model review documentation that satisfies the firm's internal model approval functions, audit requirements, and the Firm's regulators (e.g., FRB, OCC, and PRA).
Skills required (essential)
-Advanced degree (PhD or MS) in a quantitative discipline (e.g., statistics, physics, math, computational finance) -Extensive knowledge of statistics and data analysis -Programming experience in Python and/or R -Team player with strong interpersonal and communication skills
-PhD degree in a quantitative discipline -Experience developing code in a production environment -Previous modelling or model validation experience in wealth management, financial planning, market risk, or securitized product pricing -Experience with classification techniques and models -Experience writing and editing model documentation or model review documents