Business Analyst-Model Risk

Position Overview

Morgan Stanley is a global financial services firm and market leader in investment banking, securities, investment management and wealth management services.
Working within the Legal and Compliance Division’s Non-Financial Risk (NFR) Department, you will join the NFR Data & Analytics team to support model documentation, monitoring, tuning and risk governance.
In this role you will collaborate with quantitative analysts, subject matter experts and other stakeholders to ensure that Financial Crime Compliance models meet rigorous internal and regulatory standards while supporting an environment rooted in integrity, excellence and teamwork.

Key Responsibilities

• Draft comprehensive documentation on the design of models within the Legal and Compliance Division.
• Establish ongoing monitoring controls in collaboration with quantitative analysts and subject matter experts to develop or enhance models.
• Assist in the tuning and optimization of various Financial Crime Compliance models for Trade Surveillance, Transaction Monitoring, and Sanctions screening, potentially involving machine learning or artificial intelligence.
• Support model developers and vendors in performing thorough testing and in designing challenger models or compensating controls to ensure optimal performance.
• Maintain existing models by overseeing qualitative analyses including ongoing monitoring, periodic assessments, and various testing methodologies.
• Conduct internal and external research on new modeling trends, perform gap analyses with current model controls, and assist stakeholders in implementing proposed solutions.
• Perform root-cause analyses associated with potential model performance anomalies.
• Document or oversee the documentation of analyses, recommendations, and rationales related to model activities.
• Manage and maintain the model risk governance framework for FCC models to ensure adherence to internal Model Risk Management policies and regulatory standards.
• Assist in preparing periodic and ad hoc metrics reports for senior management, evaluating and enhancing existing metrics and supporting processes.
• Track and report model changes and the results of tuning and optimization activities to appropriate advisory and audit groups.
• Liaise with the Model Risk Management group, Internal Audit, Regulatory Bodies and other stakeholders during reviews, validations, and examinations.

Required Qualifications

• Education: Bachelor’s degree with strong academic credentials in business, economics, finance, management information systems, risk management or a related field from a top-tier university.
• Experience Required: At least 4 years of relevant experience in Financial Crime Compliance, Model Risk Management, Risk Control or related domains within Financial Services.
• Good understanding of AML, Sanctions, and/or Trade Surveillance models.
• Excellent communication and presentation skills, with the ability to convey complex technical concepts to non-technical stakeholders.
• Strong analytical thinking and critical reasoning skills, with the ability to work independently and be self-motivated.

Preferred Qualifications

• Understanding of Fed SR 11-7/OCC Bulletin 2011-12 on Model Risk Management or related domains in Financial Services.
• Curiosity and eagerness to stay informed of regulatory developments impacting model risk and financial crime compliance (e.g., AML, Sanctions, Market Abuse).
• Understanding of models, financial markets, and banking.
• Proficiency in data analysis tools such as SQL, Python, Excel and visualization tools like Power BI or Tableau.
• Experience in defining and owning product roadmaps and ensuring timely delivery.

Benefits & Perks

• Salary: $90,000.00 - $155,000.00 per year
• Competitive total compensation package that may include commission earnings, incentive compensation, discretionary bonuses, and other benefit programs.
• Comprehensive employee benefits and perks in a diverse, inclusive and supportive work environment, with opportunities for mobility and career growth.