Model Risk Management, Equity Derivatives Pricing Model Validation Specialist
Budapest, HungaryPosted Jul 17, 2026
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Single PositionView All JobsHybridModel Risk Management, Equity Derivatives Pricing Model Validation SpecialistBudapest, Budapest, Hungary No longer accepting applications.Employment TypeFull timeJob LevelProfessionalYou are required to review the Firm’s Mobility Guidelines on careerhub/ prior to submitting your application to ensure you understand and abide by your obligations under the Firm policy.JOB LEVELAnalyst (Professional)TIERNAWe are seeking professionals to join the Equities Derivative Pricing Model Validation team in the Budapest office, either at junior or at experienced level.Morgan Stanley’s 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 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:Perform model validation of complex and state-of-the-art pricing models used by the Equities Trading Business used for daily valuation and risk management of trading positionsAssess if the models are conceptually sound, fit for purpose, whether the model assumptions and limitations are identified and adequately controlledEnsure that model testing performed by model developers is appropriate and sufficient and the model documentation is adequatePerform independent model testing and ensure that adequate model performance monitoring is performedIdentify potential model-related risks and escalate to managementWork closely with model developers, market risk managers and valuation controllers to understand the models and the business context in which the models need to perform appropriately, and provide effective challenges to make sure models are fit for purposeSummarize the model validation process and outcome in writing in the model validation reportConduct on-demand analyses of model performance and model risksWork as part of a global team with colleagues based in London and New YorkWhat you'll bring to the role:MSc or PhD in a STEM area or FinanceStrong quantitative background, familiarity with stochastic calculus2-4 years of experience in a relevant area relating to derivative pricing modelsExperience in Equities pricing models is a plusGenuine and broad interest in financial marketsInternal drive to effectively challenge and improve models with a quantitative and practical mindsetClear thinking, good business sense and judgmentStrong interpersonal and communication skills, proactive and collaborative attitudeExperience in coding in a high-level language such as Python is a plus#LI-JL1 #LI-hybrid...