Vice President, Climate Risk - Wealth Management (Risk Management) - Morgan Stanley
New York, NY
About the Job
Job Number:
3261237Posting Date
: Oct 30, 2024Primary Location
: Americas-United States of America-New York-New YorkJob
: Credit RiskDescription
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.
Department Profile
Credit Risk Management (CRM) evaluates credit risk transactions and approves, rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions.
Position Description
Morgan Stanley is seeking a candidate to join the Wealth Management Credit Analytics team to lead the development of climate risk methodologies to incorporate into risk management frameworks. The Wealth Management lending portfolio comprises wholesale and retail products, including commercial real estate, residential mortgage as well as securities backed lending products. The ideal candidate will demonstrate strong analytical skills, be a good team player, a self-starter with curiosity to learn and solve problems to enhance risk capabilities and communicate effectively in various forums.
Primary job responsibilities include:
- Lead the development of methodologies for incorporating climate risk into existing risk management framework, including measuring impact of different climate events and enhancing risk appetite, underwriting, portfolio management, reserves and stress loss projections
- Evaluate new and evolving tools to enhance monitoring and analyses of climate events and associated impact to lending portfolios
- Enhance risk appetite and establish KRIs to monitor impact of climate events and associate exposure and risk to lending portfolios
- Collaborate with Firm-wide stakeholders and stay connected with climate initiatives across the firm, and leverage best practices as appropriate
- Keep abreast with latest trends related to climate change - regulatory landscape, analytical tools and capabilities, academic research, etc. - with a lens to continually enhance climate risk framework
Qualifications
- Bachelors Degree required, Masters preferred in related field (e.g. climate science, economics, engineering, etc.)
- Experience in climate science either through academic qualifications or through work experience
- Minimum 7+ years relevant work experience
- Previous analytics and/ or credit risk management experience (preferred)
- Excellent verbal and written communication, with ability to communicate effectively with senior management and regulators
- Process management and prioritization skills with ability to multi-task in a dynamic environment
- Strong relationship building and stakeholder management skills
- Self-motivated and proactive attitude, with relentless attention to detail
- Strong problem solving and implementation skills
Expected base pay rates for the role will be between $120,000 and $200,000 year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
