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EMEA Credit Stress Testing – Associate
Division: Risk Management Job Title: EMEA Credit Stress Testing
Location: London Job Level: Associate
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.
The cornerstone of Morgan Stanley's risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley's capital base and franchise. Risk Management protects the Firm from exposure to losses resulting from defaults by our lending and trading counterparties.
Credit Risk Management (CRM) evaluates credit risk transactions and approves rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions.
The role sits within the EMEA Credit Stress Testing & Portfolio Management Team, whose objective is to develop and maintain best practice credit stress testing capabilities and to assist Credit Risk Officers in analysing the results.
Key responsibilities include:
• Perform stress test calculations using internal credit risk exposure models for EMEA or MSI Group portfolios across asset classes, including
o OTC derivatives
o Securities Financing Transactions (SFT), including Prime Brokerage
o Loan products
• Validate stress test results ensuring accuracy by working closely with
o Credit Risk Analytics on understanding and challenging existing methodologies for the calculation of different risk metrics
o Credit Middle Office and Risk IT to identify and resolve data quality issues
• Close coordination with Credit Risk Officers and EMEA Portfolio Risk Team for in-depth quantitative and qualitative analysis of the stress test results
• Preparation of materials and presentation of credit stress testing results at risk committees Qualifications:
Skills required (essential)
• University degree in Quantitative Finance or another quantitative discipline, plus proven experience in Credit or Market Risk Management, Trading, Financial Modelling or related risk functions
• Strong analytical skills and familiarity with Counterparty Exposure management, including industry standard models used (e.g potential exposure, expected loss)
• Ability to work independently in a self-directed way to thrive in a collaborative, team oriented environment
• Detail-oriented with strong organisational skills, such as ability to prioritise, multi task and meet deadlines in fast paced environment
• Strong proficiency with SQL and Excel is required. In general, the candidate needs to be comfortable using many tools to obtain and understand risk information. Knowledge of Python would be beneficial.
• Strong communications skills, both verbal and written, including ability to summarise key messages
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential.
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.
Given the continued spread of COVID-19 (coronavirus), all interviews will be conducted by phone or virtual connection to protect our candidates and employees.