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Model Validator (Data Analyst) Intern

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Morgan Stanley is a global financial services firm and a market leader in investment banking, securities,
investment management and wealth management services. With more than 1,300 offices in 43 countries, the people of Morgan Stanley are dedicated to providing our clients the finest thinking, products and services to help them achieve even the most challenging goals.
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.

We are currently looking for a
Model Validator (Data Analyst) to fulfil an:
Intern position for our Budapest Office

Start date: March/April

Contract: 20/30/40 hours (flexible)

Risk Management
The cornerstone of Morgan Stanley’s risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley’s capital base and franchise. Risk Management protects the Firm from exposure to losses resulting from defaults by our lending and trading counterparties.

Operational Risk Department
Operational risk refers to the risk of financial or other loss, or potential damage to a firm’s reputation,
resulting from inadequate or failed internal processes, people, systems, or from external events (e.g.,
fraud, legal and compliance risks or damage to physical assets). The Firm incurs operational risk across
the full scope of its business activities, including revenue-generating activities (e.g., sales and trading),
infrastructure groups and control functions (e.g., information technology and trade processing).

The Firm has developed an Operational Risk Management framework to identify and assess significant
operational risks and ensure appropriate mitigation actions are undertaken. The framework is deployed
across business units, infrastructure groups and control functions globally. The framework is based on a

“Three Lines of Defense” model:
– 1st Line: Business Units/Infrastructure Groups own their operational risk and are responsible for its
management;
– 2nd Line: Independent Risk Management and control functions provide independent governance and
oversight of operation risk management across the Firm and partner with business units and  infrastructure groups to anticipate, mitigate and report on operational risk;
– 3rd Line: Internal Audit provides independent assessment and validation.
Operational Risk Department (“ORD”) operates as part of the Second Line of Defense.

Position (Team) Description

Morgan Stanley is seeking a dynamic and high performing intern to learn and help grow the Financial Crimes Model Validation (“FCMV”) team, which is tasked with validating models including but not limited to anti-money laundering transaction monitoring, customer risk ranking, and sanctions screening. This group functions within ORD. Recognizing the importance of meeting heightened regulatory scrutiny and enhanced rigor in the firm’s AML efforts, FCMV was created in 2015 to oversee the review of Financial Crimes models. This opportunity involves joining a small team of professionals to learn and help test, identify, and mitigate Financial Crimes model risk.

Responsibilities

  • Learn and help to perform independent review (replicating independently) of client transaction
    monitoring, risk ranking, and sanctions screening models, etc. across the firm’s lines of business
    and five pillars aligned with OCC guidance:

    • Governance
    • Conceptual Soundness
    • Data, Systems, and Processes
    • Ongoing and Effective Challenge
    • Outcomes Analysis and Reporting
  • Design and perform statistical analysis of risk ranking, inputs/outputs monitoring and threshold tuning processes using independent tools/skills
  • Leverage testing observations to contribute to improving FCMV’s review methodology on AML/Other surveillance models
  • Develop and maintain model review documentation
  • Help develop challenger models to demonstrate effective challenge of assumptions
  • On-going communication with team management to discuss the status of model review work and test work results

Skills Required

  • Ongoing studies in an analytical/quantitative discipline (i.e., Economics, Finance, Engineering, Data Science, IT, Applied Mathematics, Data Engineering, etc.)
  • SQL fluent
  • R, Matlab, Python or any statistical language knowledge
  • Basic knowledge of Excel
  • Good command of English
  • Related projects or subjects achieved during education is a plus

Application
If you are interested in the above opportunity, please apply here by submitting your English CV.
Please indicate in your CV which position you are interested in.