VP, Model Risk Management – Financial Crimes Models
Morgan Stanley
full-time
Posted on:
Location Type: Office
Location: Baltimore • Maryland • 🇺🇸 United States
Visit company websiteSalary
💰 $95,000 - $165,000 per year
Job Level
Lead
About the role
- Lead and perform independent model reviews compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring for Firm’s financial crimes models including customer risk ranking, transactions monitoring and sanctions screening models
- Understand the use and effectiveness of financial crimes models within the context of relevant Firm businesses
- Communicate model and tool validation conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial actions to effectively resolve identified model issues
- Proactively identify and escalate thematic and idiosyncratic risk themes related to the models and tools under the coverage area
- Support high-profile, time-sensitive deliverables with limited supervision
- Establish and sustain productive relationships with model stakeholders in 1LOD, 2LOD and 3LOD
- Represent the Model Risk Management team in interactions with Internal Audit department and with regulatory agencies as required
Requirements
- 10 or more years in validating Financial Crimes models
- Deep understanding of AML regulations and compliance requirements, and AML model risks
- Experience working with financial crimes models and tools including vendors solutions
- Knowledge of financial crimes monitoring processes for digital banking or trading is a plus
- Regulatory experience is a plus
- Experience with below the line threshold tuning, and data analysis including data quality assessment
- Proficiency in statistical software packages, data mining and machine learning techniques
- Knowledge of database management systems
- Experience engaging with regulators and internal audit on topics related to financial crimes models
Benefits
- Medical
- Prescription Drug
- Dental
- Vision
- Health Savings Account
- Dependent Day Care Savings Account
- Life Insurance
- Disability and Other Insurance Plans
- Paid Time Off (including Sick Leave consistent with state and local law, Parental Leave and 29 Vacation Days annually)
- 10 Paid Holidays
- 401(k)
- Short/Long Term Disability
- Other special perks reserved for our employees
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
model validationfinancial crimes modelsdata analysisstatistical softwaredata miningmachine learningdatabase management systemsthreshold tuningAML regulationscompliance requirements
Soft skills
communicationrelationship buildingproblem solvingindependent workstakeholder engagementrisk identificationescalationcollaborationtime managementproactive approach