2026 Legal and Compliance Internship Program - Operational Risk (Budapest)

In the Legal & Compliance division, we protect the Firm’s business by identifying risks and designing programs and policies that guide internal teams on ways to address or mitigate those outcomes.

Join the Non-Financial Risk (NFR) team within Legal & Compliance and gain hands-on experience across Operational Risk Control Testing and Framework activities. You will support both assurance work and strategic risk analysis, providing a broad view of how operational risk is managed across the Firm.

Since 1935, Morgan Stanley is known as a global leader in financial services, continuously evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

Legal and Compliance Internship Program - Operational Risk

Are you interested in operational risk topics like control testing and risk framework development and many more? In an investment bank like Morgan Stanley, risk management is at the cornerstone of all our activities. This position supports the Budapest team by providing analytical, decision-making, and presentation support and will give you an insight in how banks manage their risk for regulatory and business purposes.

We offer a supportive and vibrant multinational environment in an inspiring international team, where you can experience a collaborative culture and continuous development opportunities. You can participate in the Firm’s networking events and you will have the opportunity to extend your internship, or you may take a full-time offer upon graduation.

Roles and Responsibilities:

Support execution of operational risk control testing, including walkthroughs, testing activities, and documentation in OpenPages

• Assist in test workpapers, evidence review, and issue documentation
• Contribute to risk identification and framework activities, including:
• Risk inventory updates and taxonomy mapping
• Analysis of risk drivers, incidents, capital and stress testing
• Support annual planning and risk assessment processes
• Prepare summaries, analysis, and reporting materials
• Collaborate with global stakeholders and participate in team trainings

Requirements:

• Ongoing BSc (or above) studies preferably in a quantitative field such as Finance, Economics, Business or related field
• Strong analytical skills and attention to detail
• Good knowledge of Excel and PowerPoint
• Fluent English
• Proactive, organized, and team-oriented mindset

If you are interested in the above opportunity, please apply here by submitting your English CV.
Applications are reviewed on a rolling basis. We encourage you to apply as soon as you are ready.

What you can expect from Morgan Stanley

We have a track record of innovation and passion for unlocking new opportunities, we help our clients raise, manage and allocate capital. We do this by offering a wide range of investment banking, securities, wealth management and asset management services. All that we do at Morgan Stanley is driven by our five core values: do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion, and give back. These aren’t just beliefs, they guide the decisions we make every day, ensuring we do what's best for our clients, communities and more than 80,000 employees around the world. And at the core of our success are the people who drive it - relentless collaborators and creative thinkers who are fuelled by diverse thinking and experiences. Wherever you are in our 1,200 global offices, you’ll have the opportunity to work alongside the best and the brightest in an environment where you are empowered to achieve your full potential. 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. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.