Vice President, Model Risk Audit

About 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 Internal Audit Division (IAD) provides an independent and well-informed view of the most important risks facing the Firm, assessing the quality and effectiveness of internal control, risk management, and governance systems.

The Role of a Vice President, Model Risk Audit

We are seeking a highly skilled and experienced individual to join our team as a Vice President responsible for providing audit coverage for the Quantitative Analytics Group, specifically focusing on Model Risk Audit. This position within the Technical Specialist job family requires extensive subject matter expertise to reinforce the ability of business and technology audit teams to appropriately assess model risk and model risk management, ensuring effective coverage.

What You'll Do In The Role

• Formulate and lead a wide range of assurance activities to assess model risks within coverage areas and the effectiveness of controls designed to mitigate them.
• Audit the model development and validation processes, including conceptual soundness review, diagnostic testing, implementation, and ongoing monitoring of valuation, risk, capital, and liquidity models.
• Focus on models used for management of Asset Liability Management (ALM) and Interest Rate Risk in the Banking Book (IRRBB).
• Review and challenge work performed by issue owners to remediate internal and external issues related to model risk.
• Proactively identify existing and emerging risks, incorporating them into model risk assessment and assurance coverage strategies.
• Articulate actionable insights to model developers and Model Risk Management, detailing the criticality and impact of model risks to the business, and providing sound oversight on appropriate model usage and limitations.
• Document all work performed in a concise and repeatable manner, adhering to audit standards.
• Effectively partner with colleagues and stakeholders globally to foster strong working relationships.
• Align projects and initiatives with department and coverage area priorities, overseeing team execution of deliverables in accordance with audit methodology and quality standards.

What You'll Bring To The Role

• Advanced knowledge of Anti-Money Laundering, and Asset Liability Management (ALM) and Interest Rate Risk in the Banking Book (IRRBB).
• Demonstrated experience in model development and validation and/or audit across ALM and IRRBB models.
• Strong knowledge of regulatory expectations, model risk governance, and financial risk management practices.
• Strong understanding of audit principles, methodology, tools, and processes (e.g., risk assessments, planning, testing, reporting, and continuous monitoring).
• Ability to articulate risk and impact clearly and succinctly to diverse audiences.
• Effective change and project management techniques, with the ability to support teams in adapting new ways of working.
• Proficiency in leveraging and analyzing data to inform risk focus and views.
• Ability to coach and mentor others, fostering an inclusive work environment.
• A Master's or PhD in Mathematics, Financial Engineering, Quantitative Finance, or a hard science (e.g., Physics).
• Excellent written and verbal communication skills, coupled with strong analytical and problem-solving abilities.
• Strong interpersonal skills to interact effectively with internal and external stakeholders.
• At least 6 years' relevant experience is generally expected for this role.
• Relevant certifications (e.g., CIA, FRM, CRMA) are preferred.

What You Can Expect From Morgan Stanley

At Morgan Stanley, you will raise, manage, and allocate capital for clients, helping them achieve their goals in a differentiated way. The firm's values—putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back—guide daily decisions. You'll work alongside top talent in a supportive and empowering environment, collaborating with diverse, creative thinkers. Morgan Stanley offers attractive and comprehensive employee benefits and perks, supporting employees throughout their work-life journey, with ample opportunities for internal mobility for those demonstrating passion and grit. Morgan Stanley is an equal opportunity employer committed to diversifying its workforce.

Key skills/competency

• Model Validation
• Risk Management
• Quantitative Analytics
• Internal Audit
• Financial Regulation
• ALM (Asset Liability Management)
• IRRBB (Interest Rate Risk in the Banking Book)
• Regulatory Compliance
• Stakeholder Engagement
• Financial Risk Governance