Job Description
Analyst / Associate - QAG Audit (Internal Audit)
Job Number:
3237816
POSTING DATE: Jun 12, 2026
PRIMARY LOCATION: Non-Japan Asia-India-Maharashtra-Mumbai (MSA)
EDUCATION LEVEL: Master's Degree
JOB: Audit
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Senior Manager
DESCRIPTION
Job Description
Division: Internal Audit
Department: Risk Management (QAG) Audit - India
Region: Global
Job Level: Analyst/Associate / Director
Job Title: QAG Audit - Analyst
Location: Mumbai (Nirlon Knowledge Park)
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
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.
Morgan Stanley is seeking an auditor for its Internal Audit Department (IAD). IAD comprises Business, Risk and Technology Auditors; Subject Matter Experts (e.g., Risk, Data Analytics); and support functions that are responsible for ensuring the department adheres to professional, regulatory and Firm policies and procedures. IAD provides independent assurance on the quality and effectiveness of the Firm’s internal control, risk management, and governance systems and processes. It achieves this by identifying and assessing the operating risks of the Firm and evaluating the adequacy and effectiveness of the Firm’s system of internal control. The division provides opportunity to gain unique insight on the financial industry and its products and operations.
We’re looking for detail-oriented team players who have an interest in financial markets and want to gain insight into the firm’s operations and control processes.
The role will reside within the Internal Audit’s– Risk Management (Quantitative Analysis Group) audit team in Mumbai. The QAG team is responsible for
Secondary Reviews of Quantitative Models and Validations: Audit the model development and validation methods and procedures of the Market Risk Analytics Group, Operational Risk Analytics Group, Credit Capital and Rating Analytics, Institutional Securities Group and Model Risk Management on an annual basis. These audits cover the firm’s key capital, risk and pricing models, including Comprehensive Capital Analysis and Review (CCAR), FRTB, Value at Risk (VaR), Stressed VaR, Incremental Risk Charge, Comprehensive Risk Measure, Advanced Measurement Approach (AMA Operational Risk), Retail, Wholesale and Securitization Credit models and the full range of front office pricing models.
Liaise with model developers, and model validators of Market Risk, FRTB and CCAR/PPNR Models teams to provide oversight and guidance on model risk and appropriate usage, controls around model restrictions & limitations, and findings for ongoing performance assessment & testing
Keep up with the latest developments in coverage area in terms of regulatory expectations, risk management practices and industry standards, and emerging trends in the industry.
Excellence in statistics, econometrics, probability theory, stochastic processes, partial differential equations, and numerical analysis, monte carlo simulation, numerical methods, option pricing theory, Interest rate products, term structures, etc.
Hands on experience in review/development of Market Risk and CCAR/PPNR Model modelling, etc.
Closure Verification of Regulatory Findings: Verify work performed by the above-mentioned clients to remediate regulatory findings in the form of Matters Requiring Immediate Attention (MRIA), Matters Requiring Attention (MRA), Market Risk Rules (MRR) and Observations. This involves a review of methodology and testing performed, and, as necessary, additional testing by QAG role includes assisting the Internal Audit department’s ISG audit team in completing its annual audit plan, communicating to senior management and providing recommendations for improvements.
Primary Responsibilities (Day Job)
Carrying out detailed quantitative audit of Market Risk, Capital Charges, Pricing, Valuation model development and validation processes.
Provide support on financial derivatives, risk analytics in other Internal Audit engagements.
Documenting all work performed in a clear, concise, and re-performable manner; uploading all work papers and reports into the Internal Audit work paper system
Tracking and closing technical findings identified by US Federal Regulators or UK regulators (PRA) or resulting from model audits.
QUALIFICATIONS
Knowledge and Skills
Masters or PhD in Mathematics, Financial Engineering, Quantitative Finance etc. preferably with a first degree in Math, Engineering etc.
Knowledge of financial markets, financial mathematics and fluency in stochastic calculus, statistics and Monte Carlo methods.
Basic Knowledge of financial products (Equities, Fixed Income, Commodities)
Good written and verbal communication skills
Strong interpersonal skills in order to interact confidently within Internal Audit and with internal clients
Coverage
Monday to Friday from 12:00PM to +:00PM India time with flexibility on standard working hours for time sensitive matters.
Periodic evening calls with US and EMEA Internal Auditors and auditees
Job Number:
3237816
POSTING DATE: Jun 12, 2026
PRIMARY LOCATION: Non-Japan Asia-India-Maharashtra-Mumbai (MSA)
EDUCATION LEVEL: Master's Degree
JOB: Audit
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Senior Manager
DESCRIPTION
Job Description
Division: Internal Audit
Department: Risk Management (QAG) Audit - India
Region: Global
Job Level: Analyst/Associate / Director
Job Title: QAG Audit - Analyst
Location: Mumbai (Nirlon Knowledge Park)
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
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.
Morgan Stanley is seeking an auditor for its Internal Audit Department (IAD). IAD comprises Business, Risk and Technology Auditors; Subject Matter Experts (e.g., Risk, Data Analytics); and support functions that are responsible for ensuring the department adheres to professional, regulatory and Firm policies and procedures. IAD provides independent assurance on the quality and effectiveness of the Firm’s internal control, risk management, and governance systems and processes. It achieves this by identifying and assessing the operating risks of the Firm and evaluating the adequacy and effectiveness of the Firm’s system of internal control. The division provides opportunity to gain unique insight on the financial industry and its products and operations.
We’re looking for detail-oriented team players who have an interest in financial markets and want to gain insight into the firm’s operations and control processes.
The role will reside within the Internal Audit’s– Risk Management (Quantitative Analysis Group) audit team in Mumbai. The QAG team is responsible for
Secondary Reviews of Quantitative Models and Validations: Audit the model development and validation methods and procedures of the Market Risk Analytics Group, Operational Risk Analytics Group, Credit Capital and Rating Analytics, Institutional Securities Group and Model Risk Management on an annual basis. These audits cover the firm’s key capital, risk and pricing models, including Comprehensive Capital Analysis and Review (CCAR), FRTB, Value at Risk (VaR), Stressed VaR, Incremental Risk Charge, Comprehensive Risk Measure, Advanced Measurement Approach (AMA Operational Risk), Retail, Wholesale and Securitization Credit models and the full range of front office pricing models.
Liaise with model developers, and model validators of Market Risk, FRTB and CCAR/PPNR Models teams to provide oversight and guidance on model risk and appropriate usage, controls around model restrictions & limitations, and findings for ongoing performance assessment & testing
Keep up with the latest developments in coverage area in terms of regulatory expectations, risk management practices and industry standards, and emerging trends in the industry.
Excellence in statistics, econometrics, probability theory, stochastic processes, partial differential equations, and numerical analysis, monte carlo simulation, numerical methods, option pricing theory, Interest rate products, term structures, etc.
Hands on experience in review/development of Market Risk and CCAR/PPNR Model modelling, etc.
Closure Verification of Regulatory Findings: Verify work performed by the above-mentioned clients to remediate regulatory findings in the form of Matters Requiring Immediate Attention (MRIA), Matters Requiring Attention (MRA), Market Risk Rules (MRR) and Observations. This involves a review of methodology and testing performed, and, as necessary, additional testing by QAG role includes assisting the Internal Audit department’s ISG audit team in completing its annual audit plan, communicating to senior management and providing recommendations for improvements.
Primary Responsibilities (Day Job)
Carrying out detailed quantitative audit of Market Risk, Capital Charges, Pricing, Valuation model development and validation processes.
Provide support on financial derivatives, risk analytics in other Internal Audit engagements.
Documenting all work performed in a clear, concise, and re-performable manner; uploading all work papers and reports into the Internal Audit work paper system
Tracking and closing technical findings identified by US Federal Regulators or UK regulators (PRA) or resulting from model audits.
QUALIFICATIONS
Knowledge and Skills
Masters or PhD in Mathematics, Financial Engineering, Quantitative Finance etc. preferably with a first degree in Math, Engineering etc.
Knowledge of financial markets, financial mathematics and fluency in stochastic calculus, statistics and Monte Carlo methods.
Basic Knowledge of financial products (Equities, Fixed Income, Commodities)
Good written and verbal communication skills
Strong interpersonal skills in order to interact confidently within Internal Audit and with internal clients
Coverage
Monday to Friday from 12:00PM to +:00PM India time with flexibility on standard working hours for time sensitive matters.
Periodic evening calls with US and EMEA Internal Auditors and auditees
💡 Quick Summary
Seeking a career-building opportunity? The Analyst | Associate | QAG Audit |Internal Audit position is now open for candidates interested in the Accountant Jobs sector. This role in Mumbai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Accountant Jobs is a plus.
