Quantitative Analyst - Model Risk Management

Are you interested in how mathematical models help the business? What could be the risks when we use these models in the financial industry? With this role you will gain insight into global model risk management.We offer:A supportive and vibrant multinational environmentAn endless amount of interesting, complex business challengesA chance to influence a talent agenda that impacts over 80K employeesA collegial atmosphere to deliver innovative solutions supported by a world-class teamContingent/Leased assignment working onsite at Morgan StanleyContract via 3rd party agencyYou will:Conduct model validation for Internal Liquidity Stress Testing models by challenging model assumptions, mathematical formulation, and implementationConduct independent testing to assess model accuracy and robustness under different scenarios and market conditionsAssess and quantify model risks due to model limitations and develop compensating controlsDevelop high-quality validation reports highlighting risks and limitations of models and communicate findings to stakeholders, senior managementProactively communicate with the global and regional treasury and liquidity risk teams on ongoing validation and any model issues that may come upCollaborate with Global MRM teams, Developers, Model Control Officers, and Risk Managers to manage model risk across the model lifecycleCultivate and manage effective relationships with regulators by providing accurate and timely submissionsYou have:Master’s or Ph.D. degree in Mathematics, Mathematical Finance, Physics, Engineering, Finance, Economics or a related quantitative field0-4 years of experience with financial modeling or model reviewGenuine and broad interest in financial markets and derivatives; internal drive to effectively challenge and improve models with a quantitative and practical mindsetClear thinking, good business sense and judgment, proactive and collaborative attitudeStrong interpersonal and communication skillsInterest or experience with programming in a high-level language such as Python is a plusTeam profile:The Model Risk Management group is part of the Global Firm Risk Management (FRM) department of Morgan Stanley, and it has global responsibility for the independent risk control, review and validation of models used by Morgan Stanley. These include models used for capital and liquidity stress tests, pricing models for derivatives in all asset classes, as well as models used for counterparty credit risk (CVA), market risk, credit risk, operational risk and wealth management products. In addition to traditional methodologies MRM also reviews AI and ML models and GenAI solutions. MRM professionals in New York, London, Budapest, Frankfurt, Mumbai and Tokyo work closely with business capital, risk analytics, risk managers and financial controllers. The Budapest team works closely with other members of the Model Risk Management group on model issues across all asset classes globally.About us:Morgan Stanley is a global financial services firm and a market leader in investment banking, securities, investment management and wealth management services. At Morgan Stanley Budapest, we are shaping the future of our global business and contributing to our local community. Our team works across numerous areas, including Technology, Mathematical Modelling, Finance, Risk Management and Data & Analytics from our new state-of-the-art offices near the Danube. You will be exposed to a truly international and multi-cultural environment that appreciates and respects individuality.