Associate - Market Risk Manager
- New York, NY, USA
- Permanent, Full time
- Morgan Stanley USA
- 22 Apr 19
Associate - Market Risk Manager
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.
The talent and passion of our people is critical to our continued success as a firm. Together, we share four core values rooted in integrity, excellence and strong team ethic:
1. Putting Clients First
2. Doing the Right Thing
3. Leading with Exceptional Ideas
4. Giving Back
Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.
Firm Risk Management
Firm Risk Management ("FRM") enables 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, operational, model and other risks.
Our mission is to serve as the follow roles:
· Independent agent to set consistent principles and disciplines for risk management
· Strategic advisor to Firm management for setting risk appetite and allocating capital
· Industry leader to influence and meet regulatory standards
You will collaborate with colleagues across FRM and the Firm to protect the Firm's capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication we are best able to bring our ideas to the table and improve the Firm.
Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.
Firm Risk Management's unique franchise promotes:
ü Flat, flexible and integrated global organization
ü Collaboration and teamwork
ü Credible, independent decision-making
ü Organizational influence
ü Creative and practical solutions
ü Meritocratic and diverse culture
Background on the Position
The role will reside within the Firm Risk Management's Market Risk Department ("MRD") which is responsible for the independent identification, measurement, monitoring, reporting, challenge, and escalation of market risk arising from the Firm's trading and non-trading activities. In particular, this role is part of the XVA Market Risk Management team. Product coverage includes multi-asset class risks across the Firm's Credit Valuation Adjustment ("CVA"), Funding Valuation Adjustment ("FVA"), CTDVA and other items related to mark-to-market risk on the Firm's counterparty portfolio.
· Identify, assesses, and monitor counterparty mark-to-market risks across the portfolio as well as implement processes to actively monitor these risks. Candidate will oversee the risk monitoring process accordingly
· Calibrate and enforce risk limits aligned with the Firm's risk appetite
· Engage in a ctive dialogue with business units, Risk Management colleagues, and other groups regarding business strategies, risk representation, and limit compliance
· Conduct d etailed risk analyses, highlighting both direct and indirect vulnerabilities in the portfolio
· Develop a suite of comprehensive stress tests to highlight key risks and projects to improve accuracy of XVA measurement
· Coordinate as necessary with other functional groups including Risk Analytics, Risk Reporting, Stress Testing, and Regulatory and Capital groups
· Work closely with Firm Risk Stress Testing teams to validate inputs, design appropriate scenarios, verify shock implementation, and communicate results
· Communicate results of analyses to relevant stakeholders; prepare and present briefings to senior management
· In-depth knowledge of fixed income products with preference for candidates with broader experience
· Quantitative orientation with strong technical intuition and ability to make judgments based on incomplete data
· Ability to synthesize complex problems and conceptualize and deliver appropriate solutions
· Strong technical skills, including high proficiency in Excel. Candidate should demonstrate database fluency and be comfortable working with large datasets
· The role involves working closely with several other areas including IT, Risk Infrastructure, Model Risk and the Business Unit, therefore the candidate must be able to develop strong working relationships and communicate clearly, both verbally and in writing
· High level of a ttention to detail, project management, and prioritization skills will be key in balancing daily deadlines with timely implementation of strategic projects
· XVA experience is beneficial but not a requirement
· Programming skills (e.g., VBA, SQL, etc.) are advantageous
· Minimum of 4 - 6 years in similar sector of the financial services industry (e.g., trading, risk, or finance/treasury at a large financial institution)
· Excellent academic background, preferably with an advanced degree (or equivalent) in economics, finance, math, or engineering