Business Analyst-Model Risk

Position Overview

Morgan Stanley is a global financial services firm known for its leadership in investment banking, securities, investment management and wealth management. The role is based within the Legal and Compliance Division’s Non-Financial Risk Department, specifically in the Data & Analytics function. You will be responsible for model documentation, monitoring, oversight, and governance for Financial Crime Compliance (FCC) models. This role involves collaborating with quantitative analysts, subject matter experts and regulatory stakeholders. The position offers a competitive Compensation package with base pay between $90,000.00 and $155,000.00 per year along with additional incentives.

Key Responsibilities

• Draft comprehensive documentation on the design of models within the Legal and Compliance Division.
• Establish ongoing monitoring controls by collaborating with quantitative analysts and subject matter experts to develop or enhance models.
• Assist in tuning and optimizing various FCC models used for Trade Surveillance, Transaction Monitoring, and Sanctions screening, potentially using machine learning or artificial intelligence.
• Support model developers and vendors through thorough testing, including designing challenger models or compensating controls to ensure optimal performance.
• Maintain existing models by executing or overseeing qualitative analyses related to ongoing monitoring, periodic assessments, and detailed testing.
• Conduct internal and external research on emerging modeling trends, perform gap analyses with existing models and assist stakeholders in implementing recommendations.
• Perform root-cause analyses on detected anomalies in model performance.
• Document and oversee the documentation of analyses, recommendations, and rationales related to model activities.
• Manage and maintain the model risk governance framework for FCC models in compliance with internal Model Risk Management (MRM) policies and regulatory standards.
• Assist in preparing periodic and ad hoc metrics reports for senior management.
• Track and report model changes and tuning outcomes to advisory heads, MRM, and Internal Audit.
• Liaise with the MRM Group, Internal Audit, Regulatory Bodies, and other stakeholders during reviews, validations, and examinations.

Required Qualifications

• Bachelor’s degree in business, economics, finance, management information systems, risk management, or a related field from a top tier university.
• At least 4 years’ relevant experience in Financial Crime Compliance, Model Risk Management, Risk Control, or similar domains.
• Solid 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, critical reasoning skills and the ability to work independently.

Preferred Qualifications

• Understanding of Fed SR 11-7 / OCC Bulletin 2011-12 on Model Risk Management or similar domains within Financial Services.
• Eagerness to remain informed on regulatory developments impacting model risk and financial crime compliance (e.g., AML, Sanctions, Market Abuse).
• Familiarity with financial markets, banking, and modeling techniques.
• 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 delivering results.

Benefits & Perks

• Comprehensive Compensation package including base pay, commission, incentive compensation, discretionary bonuses, and other benefit programs.
• Attractive employee benefits and perks.
• A diverse, inclusive, and supportive work environment.
• Opportunities for career advancement and global exposure.