Executive Director, Research
Morgan Stanley & Co., LLC seeks an Executive Director, Research in New York, New York
Responsible for credit strategy analysis for Latin American sovereigns. Service external and internal accounts through research reports, bespoke analysis, client calls, and meetings. Cover portfolio allocation strategy including relative value across countries and at bond level. Produce spread forecasts for the benchmark. Develop specific trade ideas that have attractive risk-reward over a 1-3 month horizon. Propose and manage in-depth country reports that collaborate with the economists. Develop and maintain analytical models to determine relative value among different securities and markets. Run client meetings with senior portfolio managers. Host bi-annual meetings between investors and IMF officials. Qualifications:
Requires a Bachelor's degree in Mathematics, Finance, or related field of study and seven (7) years of experience in the position offered or seven (7) years of experience as an Executive Director, Vice President, or related occupation in the financial services field. Requires five (5) years of experience with: Bond analytics, including calculating interest sensitivity and implied default probability; modeling the future debt path of the sovereign, including calculating sensitivities to moves in financing costs, currency rates, and primary budget balance; debt restructuring legal analysis, including bond indentures and prospectus as well as collective action clauses. Requires three (3) years of experience with: Credit default swap analysis, including calculating the probability of default from the market pricing of Credit Default Swap (CDS); International Swaps and Derivatives Association (ISDA) CDS regulations, including how these definitions define credit events and the functionality of auctions; and evaluating the balance of payments, including the impact of variables of FX, commodity prices, and portfolio flows. Requires two (2) years of experience with: Bond analytics, including adding capitalization structures; debt models incorporating annual costs broken down by debt category; Latin American political history, including the impact on foreign policy, budget decisions, and the willingness to pay debt.
Qualified Applicants :
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