What are the responsibilities and job description for the Residential Mortgage Credit Risk VP position at Morgan Stanley?
Description - External
Firm Risk Management (FRM) supports Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, model and other risks.
Background on the Position
The role will reside within Wealth Management Credit Risk Management, which evaluates and actively monitors the credit risk of a loan portfolio for Wealth Management clients. The team supports Morgan Stanley Home Loans business unit and operates within the firm's risk appetite.
This role is for a VP-level Credit Professional within the Residential Mortgage team. The core responsibility is active portfolio management, including assessing, tracking and escalating changes in the portfolio's risk profile and asset quality, as well as reviewing and challenging proposals from the First Line of Defense (e.g. limit changes, underwriting requirements changes, etc.). The role also includes providing senior management updates and preparing responses to internal and external audit requests.
Primary Responsibilities
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.
To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
Expected base pay rates for the role will be between $95,000 and $165,000 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 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.
Firm Risk Management (FRM) supports Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, model and other risks.
Background on the Position
The role will reside within Wealth Management Credit Risk Management, which evaluates and actively monitors the credit risk of a loan portfolio for Wealth Management clients. The team supports Morgan Stanley Home Loans business unit and operates within the firm's risk appetite.
This role is for a VP-level Credit Professional within the Residential Mortgage team. The core responsibility is active portfolio management, including assessing, tracking and escalating changes in the portfolio's risk profile and asset quality, as well as reviewing and challenging proposals from the First Line of Defense (e.g. limit changes, underwriting requirements changes, etc.). The role also includes providing senior management updates and preparing responses to internal and external audit requests.
Primary Responsibilities
- Responsible for active credit coverage of a residential mortgage lending portfolio
- Active monitoring and reporting of key performance indicators of mortgage loans including delinquency, forbearances and CECL impairment analysis.
- Impact assessments and resolution recommendations and portfolio oversight post a climate events
- Active monitoring and oversight of problem loan resolution, approvals of modification requests, forbearances and loans impacted by physical risk events
- Make timely recommendations regarding changes in regulatory loan classifications, CRM Watchlist, and Accounting Standard Updates and manage systemic reporting of outputs
- Lead or participate in ad-hoc projects / audits / regulatory exams / procedure, policy, and model reviews
- Preparation of BAU portfolio summaries as well as ad-hoc special topics covering assessment of trends and emerging risks for governance forums, FRM senior leadership
- Ensure data integrity of the portfolio reports by working with stakeholders in various departments including finance, FRM reporting, business unit analytics and technology
- Bachelor's degree in finance and accounting required, MBA is an asset
- Manage all requests within stated turn times while managing expectations through active communication with management and business risk & origination teams
- 5 years of experience in residential mortgage credit risk, portfolio surveillance, or related risk management for consumer/real estate lending (private bank, retail bank, or similar)
- Strong credit fundamentals and analytical skills, including experience evaluating loan performance drivers and borrower/property risk using loan servicing data, collateral characteristics, and portfolio stratifications
- Excellent written and verbal communication skills; experienced presenting emerging risks, trends, and recommendations to senior leadership
- Strong technical skills (Excel and PowerPoint required; experience with SQL or similar querying tools preferred) and comfort working with large datasets to produce repeatable, well-controlled reporting
- Demonstrated ability to manage competing priorities in a fast-paced environment, partner across functions (Finance, Risk Reporting, Technology, and business stakeholders), and mentor junior team members
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.
To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.
Expected base pay rates for the role will be between $95,000 and $165,000 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 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.
Salary : $95,000 - $165,000