We're seeking someone to join our team as an Executive Director in Quantitative Analysis Group within Internal Audit team responsible for performing secondary reviews of Quantitative Modes and validations as well as performing other assurance activities.

The Internal Audit Division (IAD) drives attention and resources to vulnerabilities by providing an independent and well-informed view and impactful messages about the most important risks facing our Firm. This is accomplished by performing a range of assurance activities to independently assess the quality and effectiveness of Morgan Stanley's system of internal control, including risk management and governance systems and processes. IAD serves as an objective and independent function within the Firm's risk management framework to foster continual improvement of risk management processes. This is an Executive Director level position (P5) within the Technical Specialist job family.



What you'll do in the role
Functional

• Lead team members to conduct model audits, quantitative analyses, and validate model issues originating from internal or external sources.
• Comprehend and guide the team around the mathematics and statistical techniques used for evaluating risk associated with complex models, such as models of default, pricing, valuation, derivatives, interest rates, stress testing and counterparties.
• Design and lead execution of audit activities assessing governance and controls across the model lifecycle, including data, development, conceptual soundness, implementation, usage, and performance monitoring.
• Lead evaluation of second line model validation, oversight, and the effectiveness of the enterprise model risk framework.
• Convey increasingly complex risks and impact in a clear, concise and timely manner to senior stakeholders, including but not limited to the Board Audit Committee, Firm and U.S. Banks senior management and external stakeholders (e.g., FRB, OCC, and other regulators)
• Lead audit entrance, status, findings, and exit meetings with senior management, executive stakeholders, other audit teams, and auditees.
• Establish ongoing and continuous monitoring routines with key stakeholders based in NY, London and Mumbai to cover business activities and evolving risks
• Coordinate audit coverage with Global Audit Coverage Director (ACD) across Model Risk
• Take charge of communication of model audit conclusions with Quant Tech Leads, Managers, Directors, and Officers consistent with Internal Audit methodology, policies, and procedures.

Supervision

• Supervise audit scoping; testing and documentation of testing results in work papers including guiding teams on risk ranking of model issues
• Oversee the Model Risk Audit team in Mumbai in collaboration with Global ACD's
• Manage administrative responsibilities as local Head of Model Risk Audit team in Mumbai.
• Coach and support team in identifying the most appropriate inspection techniques based on the identified risks
• Enable the team to deliver high-quality work and navigate through peak work periods and deadlines
• Oversee resource utilization, monitoring and progress against targets
• Encourage and support employees in the adoption of new assurance tools and techniques including Gen AI
• Identify and leverage a range of relevant data sources to generate insights on risks and to facilitate discussions about the implications for the Firm What you'll bring to the role

Qualifications:

• Master's degree with at least 3 years of proven leadership experience of managing quant teams
• Strong written and oral presentation skills.
• Minimum 15 - 20 years' experience, preferably having worked in internal audit in a major bank/financial institution with trading activities.
• Experience with large, complex financial institutions, and/or Big 4 experience with internal/external audit is preferred.
• Experience using Generative AI to enhance productivity, analyse complex documents or code, or develop analytics and automation.
• Doctorate degree in quantitative finance, economics, statistics or a related quantitative field will be preferred but is not required.
• Work experience writing statistical and/or mathematical models programs to develop models and algorithms will be preferred. Programming languages may include-but are not limited to-Python, R, SQL, Java, etc.

Keys to Success in this Role:

• Ability to articulate complex risks in a clear and concise manner and guide team in their communication
• Ability to provide effective coaching, real-time feedback, and stretch and development opportunities to help team achieve success
• Ability to attract, retain and promote a team of high performers providing guidance, support and challenge as may be required.
• Ability to create a work environment that fosters trust, idea sharing, and inclusion among team members
• Ability to multitask (work on multiple projects concurrently) with effective time management.
• Ability to explain complex concepts clearly, and a collaborative mindset that supports team based audit delivery.
• Significant experience overseeing resource utilization and monitoring progress against deliverables
• Experience in dealing with regulators and understanding their expectations for documentation, closure verification work and coverage of relevant regulatory requirements
• Critical thinking and quantitative skills
• Willingness to proactively learn audit methodology, AI/ML techniques, model governance, and business.

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 https://www.morganstanley.com/about-us/global-offices​ into your browser.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background.  Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.