Division: Risk Management Job Title: Credit Risk and Market Risk Capital – Executive Director
Location: London Job Level: Executive Director
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 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
The EMEA Risk Management Division is responsible for the independent identification, analysis, reporting and escalation of all market, credit and operational risk exposures arising from UK Group business activities, acting independently of business management and providing an effective challenge process.
As part of the Risk Division, the Portfolio Management, Stress & Capital function is responsible for computing, assessing, stressing and managing the portfolio of risk and related capital, as well as leading the Division's contribution to enterprise-wide programs dependent on risk or risk-based capital. Within the function, the Credit Risk & Market Risk Capital team contributes to the capital reporting process and a wide variety of capital-related projects and initiatives.
The Portfolio Management, Stress & Capital function is seeking an Executive Director to lead the Credit Risk and Market Risk capital team, with staff in London, Budapest and Mumbai. The role holder, based in London, will have oversight of Credit Risk and Market Risk capital reporting and analytical review process for those products and portfolios which the European legal entities have advanced model permissions (such as IMA, IMM, IRB) from the respective regulators. The role holder will have responsibility for the function's contribution to the other regulatory deliverables including Pillar 3, the internal capital adequacy assessment process (ICAAP) and recovery and resolution / solvent wind down. The role holder also oversees the team's contribution to a wide variety of business/strategic initiatives, new product and large trade evaluation.
The position requires an expert understanding of risk management fundamentals including banking and trading products, trading strategies, booking models, risk data and metrics, risk and capital models/methodologies, and risk systems. Also required is a strong understanding of current and evolving Basel regulatory Credit Risk, Counterparty Credit Risk, Market Risk and CVA Risk capital calculations and methodologies, as applied to a Tier 1 sales and trading institution. Candidates with strong a track record of experience and success in these areas are encouraged to apply.
Oversight of the Credit Risk, Counterparty Credit Risk, Market Risk and XVA Risk capital calculations, reporting and analytical review for the UK and European regulated entities
Lead and manage teams in London, Budapest and Mumbai responsible for delivering capital-related business-as-usual and strategic objectives of the Risk Management department
Oversee the delivery of insightful analysis and management information to support review and assurance of the regulatory capital position and provide clear, concise and precise responses to information requests from senior management and home/host regulatory authorities
Contribute to efficiencies and enhancements to deliver best-in-class advanced model regulatory capital reporting outcomes, including daily, monthly and quarterly reporting (COREP and Pillar 3), while maintaining robust process and control. This would include oversight of the design, development and implementation of tactical tools and strategic system changes
Critically review and evaluate the adequacy of the capital (i.e. ICAAP) held for Credit Risk, Counterparty Credit Risk, Market Risk and XVA Risks for the Firm's UK and European legal entities
Oversee the performance of self-assessments of the Firm's compliance with complex evolving prudential regulation, and contribute to the development of internal policies and procedures
Perform, and participate in, regulatory and capital analysis of new products and proposals initiated by the business units and the Firm, and provide recommendations to the business units and Risk senior management
Represent the function at risk and model governance forums, providing subject matter expertise and insights; and represent the Risk Management department at senior committees, providing effective review and challenge in support of the departments objectives
Lead, participate and contribute to the scoping, planning, delivery and embedding of large, complex, regulatory projects (e.g. Solvent Wind Down)
Foster strong relationships with stakeholders in the Business Units, Finance, Treasury and Operations
Strong written and verbal communication, and interpersonal skills, with demonstrated experience with cross-functional engagement (Finance, Treasury, Risk Analytics, Technology) and dealing with all levels of management
Strategic team leadership experience with staff from diverse academic and cultural backgrounds, with experience in building the capability and professional conduct of junior and mid-level risk management professionals
Expert understanding of current and evolving Basel regulatory Credit Risk, Counterparty Credit Risk, Market Risk and XVA Risk calculations and methodologies, as applied to a Tier 1 sales and trading institution, and their implementation
Strong understanding of risk management fundamentals including banking and traded products, trading strategies, booking models, risk data and metrics, risk and capital models/methodologies, and risk systems
Capability, experience and comfort in reviewing, interpreting and assessing the implications of complex (Basel) prudential regulation
Excellent organisational skills to meet challenging and ambitious objectives and manage competing priorities
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents. Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.
Internal Number: 5852020
About Morgan Stanley
eFinancialCareers is a career site specializing in financial services.