Model Oversight Associate at Morgan Stanley in Budapest

Job description

We’re seeking someone to join our team as a Model Oversight Associate. 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. 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. 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) or internally developed models by Financial Advisors, 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. What you’ll do in the role : Work with vendors and business to understand the model’s methodology. Design and execute testing plans in collaboration with vendors, business partners, and the Firmwide Model Risk Management team. Document models and relevant testing results. Analyze test results, identify potential issues and communicate findings to stakeholders Develop ongoing monitoring plan & perform ongoing monitoring for certified/approved models. Support testing, evaluation and documentation of vendor service or internal GenAI use cases and Agents Address questions and remediate issues identified during model certification and GenAI use case/Agent reviews 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 What you’ll bring to the role: Bachelor’s degree in Mathematics, Physics, Finance, Statistics, Econometrics, Computer Science, or a related quantitative field. Advanced degree (e.g., MSc) is preferred 2+ years of experience in a financial institution, consulting firm, or relevant analytical function Strong understanding of statistical modeling and quantitative analysis. Familiarity with 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 #LI-NB1 #BPDBA 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 ev