Wealth Management Risk - Associate/AVP

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 42 countries.

Morgan Stanley Wealth Management provides a range of wealth management products and services for individuals, businesses, and institutions. These services include brokerage and investment advisory, financial and wealth planning, credit and lending, cash management, annuities and insurance, stock plan administration and institutional consulting.

Department Profile

Morgan Stanley Wealth Management Risk group is responsible for overseeing the risk and control framework within the Wealth Management business unit. The group teams up with the various business units as well as the Firm’s second line risk teams to protect the Firm from exposure to various risks including operational, credit, investment, trading, model risk, and emerging risks from Generative AI adoption.

Description of the Position

The position will reside within WM Model Control team. The Model Control team oversees the model inventory for all WM models as well as Bank models that impact Morgan Stanley Private Bank, National Association (“MSPBNA”), Morgan Stanley Bank National Association (“MSBNA”) (collectively, the “Banks”). In addition, the team is responsible for the governance and oversight of the division’s GenAI application and usages. This role supports the testing, documentation, and certification of vendor models (third-party models purchased by Morgan Stanley), as well as risk assessment and review of Generative AI (GenAI) use cases within Wealth Management. This role is critical for ensuring model and GenAI usage are in compliance with Firm’s policies and regulatory requirements.

Primary Responsibilities

The key responsibilities of this role are

• Assist in documentation and certification of vendor models. Work with vendors and business to understand the model’s methodology. Design and execute testing plans in collaboration with vendors, business partners, and the Model Risk Management team.
• Analyze test results, identify potential issues and communicate findings to stakeholders
• Develop ongoing monitoring plan perform ongoing monitoring for certified models.
• Support testing, evaluation and documentation of vendor service GenAI use cases
• Address questions and remediate issues identified during model certification and GenAI use case review

• Conduct risk assessment on GenAI use cases to ensure compliance with firm policies and regulatory expectations
• Provide guidance to business on GenAI testing framework and monitoring process
• Develop and maintain documentation and reporting for GenAI use case lifecycle management, including validation, monitoring, and issue escalation

Qualification

• Bachelor’s degree in Mathematics, Finance, Statistics, Computer Science, or a related quantitative field. Advanced degree (e.g., MS) preferred
• 2+ years of experience in a financial institution, consulting firm, or relevant analytical function
• Strong understanding of statistical modeling and quantitative analysis. Familiarity in GenAI technologies and use case development.
• Experience in risk management, ideally including hands-on exposure to GenAI risk assessment, control, or oversight
• Excellent technical writing and verbal communication skills
• Strong attention to details, execution and project management skills; ability to influence and coordinate within cross-functional teams
• Proficiency in MS Excel, PowerPoint, Word, and SharePoint. Programming skills (e.g., Python, R) are a plus
• Self-starter and strong problem-solving skills

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 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 into your browser.

Expected base pay rates for the role will be between $58,000 and $115,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).