Model Development (Risk Management) - Associate

Morgan Stanley; City of London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A global financial services firm is seeking a Model Development (Risk Management) Associate to enhance credit risk models and ensure compliance with regulatory standards. Candidates should have an MSc or equivalent in a quantitative subject and strong analytical and programming skills, preferably in Python. This position offers a collaborative work environment and the opportunity to work on important global projects.

Benefits

Comprehensive employee benefits

Flexible working arrangements

Diversity and inclusion initiatives

Qualifications

• Rapidly adapt to evolving statistical techniques in risk modelling.
• Ability to balance multiple high priority deliverables.
• Independent and collaborative work skills.

Responsibilities

• Enhance PD models while ensuring regulatory compliance.
• Contribute to global models and performance monitoring.
• Review and challenge data assessments for model compliance.

Skills

Analytical ability

Programming skills (Python)

Understanding of statistical techniques in risk modelling

Communication skills

Knowledge of IRB regulations

Education

MSc or equivalent in a quantitative subject

Job description

Join to apply for the Model Development (Risk Management) - Associate role at Morgan Stanley

Overview

Firm Risk Management (FRM) supports 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 because of credit, market, liquidity, operational, model and other risks.

The role will reside within Firm Risk Management's Risk Analytics Department, specifically the Credit Risk Methodology Group. This team is responsible for development of credit risk models for estimation of ratings, and probability of default, primarily for use in Internal Ratings Based (IRB) capital calculations but also other downstream processes. The position is in the EMEA Credit Risk Methodology team, based in London, working closely within the global function in the US and other locations. The EMEA team, in addition to contributing to global workstreams and priorities, focuses on ensuring that specific regional/legal‑entity requirements, standards and practices are met.

Responsibilities

• Support enhancement of PD models, while ensuring compliance with different regulatory requirements (UK, EU) and internal standards.
• Collaborate in a global team environment to contribute to projects such as: Enhancement/development of global models; Benchmarking, testing and performance monitoring of models.
• Support line‑by‑line self‑assessment processes against relevant regulations such as CRR, EGIM for above models.
• Support review and challenge of the data and assessments provided by Credit, seek second‑line approval by demonstrating model conceptual soundness, and strong model performance, as well as ensure compliance with relevant global and regulatory standards for the models.

Qualifications

• MSc or equivalent in a quantitative subject.
• Understanding rapidly evolving landscape of statistical techniques used in risk modelling such as machine learning.
• Strong analytical ability and programming skills (Python).
• Knowledge of relevant IRB model class.
• Knowledge of relevant IRB regulations and requirements (UK and EU).
• The ability to effectively communicate with a wide range of stakeholders, both written and verbally.
• An interest in working in a fast‑paced environment, often balancing multiple high priority deliverables.
• The ability to work independently in a self‑directed way in a collaborative, team‑oriented environment.

What You Can Expect From Morgan Stanley

We are committed to maintaining the first‑class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values – putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back – aren’t just beliefs, they guide the decisions we make every day to do what’s best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work‑life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Certified Persons Regulatory Requirements

If this role is deemed a Certified role and may require the role holder to hold mandatory regulatory qualifications or the minimum qualifications to meet internal company benchmarks.

Flexible Work Statement

Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize 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.

Employment Details

• Seniority Level: Entry level
• Employment Type: Full‑time
• Job Function: General Business, Management, and Business Development