ISG Middle Office Risk Support (MORS) - 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 Operations division is both the first line of defense for protecting Morgan Stanley's financial and reputational well-being, and an essential partner contributing to the firm's growth. Facing off to all Morgan Stanley businesses and interacting with all other parts of the Firm, the Operations division supports a complex, multi-faceted portfolio of businesses in full compliance with regulatory guidelines and the directives of the Operating Committee and Board of Directors. Members of the Operations team have a unique vantage point as the division touches all parts of the business, front to back. One of the largest divisions in the firm, Operations has diverse responsibilities, including correctly settling and recording millions of transactions per day, identifying and mitigating all operational risks, developing strong client relationships and partnering with technology to realize the full potential of IT and e-solutions. Throughout, we continually strive to improve while actively supporting the development of new businesses, structures and markets.
The MORS team supports the Business Unit Risk Management function, which key responsibilities include:
- Daily monitoring and escalation of Counterparty & Credit Risk generated by the Equity &
Fixed Income Business;
- Correct application of Credit Policies to the trading activity.
- Crisis ad-hoc events management
- Market risk scenario & limits analysis and tracking;
- Non Market Risk Analysis and support.
Within these business critical mandates, the MORS team's directive covers daily processing functions, critical control responsibilities as well as in-depth counterparty risk monitoring, such as:
- Counterparty trade control: correct application of credit approval process and independent amount setting on a trade by trade basis
- Monitoring exposure to specific underliers/ countries, or exposure based on portfolio composition versus specific risk parameters (long or short volatility or delta)
- Monitoring counterparties' ratings, concentration risks, slides analysis
- Ad hoc Credit analysis and credit exposure calculation & analysis driven by market events
- Management of counterparty risk initiatives, such definition and implementation of solutions to enable automation of trade level upfront margin calculation
- Methodology development: development of parameter based calculations, competitive analysis
- Successful delivery of enhancements to platforms & system flows to streamline credit approvals and counterparty limit monitoring
The successful candidate will be working closely with the Business Unit Risk Management function and will be expected to build strong relationships with the Trading desks, Sales and Credit & Market Risk functions in order to maintain a controlled environment and deliver business goals for the Equity division in NA.
The candidate will also be expected to drive change, enhance existing controls and work with their team & IT to identify areas for automation / development.
The candidate will be responsible for the following:
- Ensure smooth & controlled running of daily activities protecting the firm's franchise
- Maintain a strong control framework and full ownership of the Key Risk Indicators.
- Define and drive the prioritization of the strategic agenda
- Build relationships with key business stakeholders understanding additional support
- Act as main escalation point to the Business Unit on counterparty and non-market risk related issues Qualifications:
- OTC Derivative products experience a plus
- Prior experience in Collateral, Credit or Market Risk a plus
- Strong analytical mindset & strong control focus with ability to initiate and drive projects
- Good communication & relationship building skills
- Bachelor's degree required
- Proven ability to manage a complex agenda, in partnership with senior stakeholders