Investment Management & Wealth Management Model Validation, Executive Director

Morgan Stanley; New York (NY); On-site; USD 165,000 - 275,000; Full time

Job summary

Morgan Stanley is seeking an Executive Director to lead Model Risk Management across Wealth Management and Investment Management. You will oversee validation of portfolio and fund construction models, risk analytics, and advisory platforms, guiding a global team with a strong focus on governance and credibility.

You will engage with model owners, technology, controls, and senior management, driving risk assessment, data quality emphasis, and vendor oversight.

Qualifications

• 8–10 years of experience building, using, or validating models in asset management or related quantitative roles.
• Strong experience with portfolio construction, risk management, and analytics.
• Ability to translate quantitative issues into clear business conclusions and present to senior stakeholders.

Responsibilities

• Lead a small global team executing independent reviews of Wealth Management and Investment Management models and tools, ensuring clear validation conclusions.
• Provide credible challenge on model design, business use, and risk across portfolio construction, risk analytics, and retirement planning.
• Engage with model owners, developers, product teams, and third-party vendors to understand design, testing evidence, limitations, and controls.
• Oversee review of vendor methodologies and outputs, including factor risk models and scenario analytics.
• Guide identification and remediation of model risk issues with clear mitigation actions.

Skills

Model validation

Quantitative programming

Stakeholder engagement

Communication skills

Education

Master's or Doctorate degree in Finance or related quantitative field

Tools

BlackRock Aladdin

MSCI Barra

GenAI tools

Job description

Model Risk Management - Investment Management & Wealth Management Model Validation, Executive Director

Background of the Position

This role will reside within Firm Risk Management's Model Risk Management team and will focus on independent validation and oversight of models and tools used across the overlap of Wealth Management and Investment Management. The primary coverage areas include portfolio and fund construction models, portfolio risk management models, investment advisory and wealth platform tools, goal-based planning models, retirement and asset allocation models, capital market assumption frameworks, risk analytics, and related vendor or third-party platforms.

The role requires a strong risk management mindset, practical understanding of market environment dynamics and asset management business risks, and the ability to provide credible challenge on model methodology, implementation, limitations, data quality, ongoing monitoring, and governance. The candidate will lead a small team across regions, guiding execution quality, prioritization, technical challenge, peer review, stakeholder engagement, and development of committee and management materials.

The successful candidate should be able to engage effectively with model owners, investment teams, technology, product, controls, vendors, internal audit, and senior management, while coaching team members to translate complex quantitative issues into clear, business-relevant conclusions.

Primary Responsibilities

• Lead a small global team executing independent reviews of Wealth Management and Investment Management models and tools, with accountability for execution quality, prioritization, peer review, stakeholder engagement, and clear validation conclusions.
• Provide credible challenge on model design and business use across portfolio and fund construction, portfolio risk management, optimization, Monte Carlo simulation, factor-based analytics, asset allocation, retirement planning, and client outcome metrics.
• Engage with model owners, developers, product teams, investment teams, technology partners, control functions, and third-party vendors to understand model design, testing evidence, limitations, risk mitigants, performance information, and platform controls.
• Oversee review and challenge of vendor-provided methodologies and outputs, including factor risk models, optimization engines, scenario analytics, portfolio risk decomposition, stress testing, performance attribution tools, and related platform capabilities.
• Guide identification, communication, and resolution of model risk issues, ensuring validation reports clearly articulate key risks, conclusions, remediation expectations, compensating controls, and business implications.
• Synthesize thematic and idiosyncratic model risk observations across the validation portfolio, including recurring risks related to model limitations, data quality, monitoring, vendor dependencies, platform integration, scenario design, and business-use alignment.
• Support new products, new business initiatives, model changes, platform enhancements, expanded model use cases, and emerging model types, including AI/ML models, GenAI-enabled tools, and agentic workflows.

Experienced Required

• Approximately 8-10 years of relevant experience building, using, or validating models in asset management, investment management, wealth management, advisory platforms, portfolio analytics, or related quantitative roles; prior second-line model validation experience is preferred.
• Strong experience with portfolio and fund construction, portfolio risk management, asset allocation, capital market assumptions, goal-based or retirement planning, investment risk analytics, and advisory tools.
• Experience with portfolio optimization and Monte Carlo simulation frameworks, including applications to constrained optimization, tracking error, risk budgeting, wealth projections, scenario analysis, downside risk, and probability-of-success metrics.
• Experience with factor models, asset class assumptions, covariance estimation, expected return assumptions, benchmark construction, portfolio constraints, model performance monitoring, and key asset management business risks.
• Experience engaging with vendors or third-party model providers, including obtaining methodology documentation, challenging proprietary approaches, assessing limitations, evaluating model performance and controls, and working with platforms such as BlackRock Aladdin, MSCI Barra, or similar tools.

Skills Required

• Master's or Doctorate degree, or equivalent experience, in Finance, Business Administration, Economics, Mathematics, Statistics, Computer Science, Engineering, Operations Research, Financial Engineering, or a related quantitative or technical business field.
• Ability to independently assess model conceptual soundness, implementation quality, data lineage, controls, monitoring, and use-case appropriateness, with a risk management-oriented mindset and willingness to speak up constructively.
• Strong written, verbal, and interpersonal communication skills, including comfort leading meetings, making formal presentations, producing committee materials, briefing senior stakeholders, and building credibility across investment, quantitative, technology, product, vendor, control, audit, and regional teams.
• Hands-on experience with quantitative programming and data analysis tools such as Python, R, MATLAB, SQL, or comparable languages is preferred; experience with GenAI agents or AI-enabled workflow tools is desirable; CFA, FRM, ML, or related quantitative or technology certifications are a plus.

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 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.

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 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.

Expected base pay rates for the role will be between $165,000 and $275,000 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).

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.