Generative AI, Model Risk Management Vice President

Generative AI, Model Risk Management Vice President

Morgan Stanley’s Model Risk Management team is seeking a team lead for our Budapest office. This role is pivotal in reviewing Generative AI (GenAI) use cases developed by various business units.

The Model Risk Management group is part of the Global Firm Risk Management (FRM) department of Morgan Stanley and it has global responsibility for the independent risk control, review and validation of models used by Morgan Stanley. These include pricing models for derivatives in all asset classes, as well as models used for counterparty credit risk (CVA), market risk, credit risk, operational risk, wealth management products, and capital and liquidity stress tests. In addition to traditional methodologies, MRM also reviews AI and ML models, and GenAI solutions. MRM professionals in New York, London, Budapest, Frankfurt, Mumbai and Tokyo work closely with business capital, risk analytics, risk managers and financial controllers.  The Budapest team works closely with other members of the Model Risk Management group on model issues across all asset classes globally.

Since 1935, Morgan Stanley is known as a global leader in financial services, always evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

What you’ll do in the role:

• Conduct and oversee the review for GenAI use cases across different functional areas and challenge aspects such as inputs, outputs, evaluations, usage, prompts, testing design and performances, and ongoing monitoring plan

• Manage a local team performing these reviews

• Cultivate and manage positive relationships with GenAI use case developers, Firmwide AI, Non-Financial Risk and other control functions

• Stay up to date on key developments in the rapidly emerging area of GenAI, including foundation models, evaluation frameworks and emerging governance

• Provide input to discussions with senior management and regulators

What you’ll bring to the role:

• MSc in STEM or Finance.

• 1-3 years of working experience in GenAI (LLMs and their applications), Machine Learning, Artificial Intelligence, or Natural Language Processing in either model development or model validation.

• 5+ years of work experience, 2+ years of management experience (not necessarily in an AI team)

• Genuine and broad interest in financial markets; internal drive to effectively challenge and improve models with a quantitative and practical mindset

• Strong interpersonal and communication skills

• Experience with programming in a high-level language such as Python is a plus

We offer:

• A competitive compensation and benefits package including eligibility for an annual bonus

• Flexible working arrangements (core hours and opportunity to work from home)

• Enriching challenges that provide opportunity for constant learning and advancement

• Professional development opportunities including access to Morgan Stanley’s world-class internal trainings

• A supportive and vibrant multinational environment, we accept individual differences and believe in teamwork 

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WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 89 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 every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

Certified Persons Regulatory Requirements:
If this role is deemed a Certified role and may require the role holder to hold mandatory regulatory qualifications or the minimum qualifications to meet internal company benchmarks.

Flexible work statement
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.

Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize 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.