Address
Form of work
SalaryDivision: Internal Audit Department: Quant Analysis Group (QAG) Audit - India Region: Global Job Level: Vice President (10-12 Years Experience) Location:Mumbai (Nirlon Knowledge Park) Morgan Stanley is seeking an auditor for its Internal Audit Department (IAD). IAD comprises Business, Risk and Technology Auditors; Subject Matter Experts (e.g., Risk, Data Analytics); and support functions that are responsible for ensuring the department adheres to professional, regulatory, and Firm policies and procedures. IAD provides independent assurance on the quality and effectiveness of the Firms internal control, risk management, and governance systems and processes. It achieves this by identifying and assessing the operating risks of the Firm and evaluating the adequacy and effectiveness of the Firms system of internal control. The division provides opportunity to gain unique insight on the financial industry and its products and operations. Were looking for detail-oriented team players who have an interest in financial markets and want to gain insight into the firms operations and control processes. The role will reside within the Internal Audits Model Risk Management (Quantitative Analysis Group) audit team in Mumbai. The QAG team is responsible for Secondary Reviews of Quantitative Models and Validations: Audit the model development, validation methods and procedures of Credit models (Rating, LGD and EAD): analyse conceptual soundness of complex credit risk models and methodologies; assess model behaviour and suitability of credit risk models to business/product type. Liaise with model developers, Model Risk Management, and business control teams to provide oversight and guidance on model risk and appropriate usage, controls around model restrictions & limitations, and findings for ongoing performance assessment & testing. Keep up with the latest developments in coverage area in terms of products, markets, models, risk management practices and industry standards, and emerging trends in the industry and regulatory landscape. Understanding of econometrics, time series models, probability theory, statistics, and stochastic processes to identify the correctness of model methodology. Proven track record of developing or validating credit risk or capital models is required given the level of details and responsibility needed for the position. Closure Verification of Regulatory Findings: Verify work performed by the Desk and Model risk management to remediate regulatory findings in the form of Matters Requiring Immediate Attention (MRIA), Matters Requiring Attention (MRA), Market Risk Rules (MRR) and Observations. This involves a review of methodology and testing performed, and, as necessary, additional testing by QAG. Along with above, the qualified person will also be performing people management role, as with time the role will expand to manging team members in India. Primary Responsibilities: Carrying out detailed quantitative audit of Credit risk and capital models and Market Risk model development and validation processes. Provide support to risk analytics and model risk validation team in other Internal Audit engagements. Documenting all work performed in a clear, concise, and re-performable manner; uploading all work papers and reports into the Internal Audit work paper system. Tracking and closing technical findings identified by US Federal Regulators or UK regulators (PRA) or resulting from model audits.
