Associate, Trading

Company Profile:

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment, 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.

In the Fixed Income division, we work in fast-paced and constantly changing global markets to assess and manage risk, trade securities, manage relationships with clients, and structure and execute innovative transactions.

What you’ll do in the role:

Morgan Stanley & Co. LLC is seeking an Associate, Trading in New York, New York to price, hedge, evaluate, manage book, and engage clients as a municipal bond trader and market maker. Assess relative value across macro markets (USD rates and volatility) as well as within municipal and credit markets. Formulate, express, and execute trade ideas within rates, volatility, and municipal bonds. Interact with diverse client base to provide liquidity as a market maker and build firm relationships. Assist desk with profit and loss reporting, compiling market color, indications, and quantitative analysis. Maintain frequent dialogue with internal IT, Strategists, Sales Forces, Trading Desks, Research, Operations, and Finance teams.

What you’ll bring to the role:

-Requires a Master’s degree in Mathematics of Finance, Economics, or a related field of study

-Requires two (2) years of experience in the position offered or two (2) years as an Associate, Analyst, or a closely related occupation

-Requires two (2) years of experience with the following skills:

• monitoring, managing, and reporting individual trade and portfolio risks including interest rate, credit spread, and option Greeks
• performing risk-neutral valuation under various numeraires
• key-rate duration risk metrics across curves and credit hazard processes
• CCAR, Basel III stress testing, CVA, VaR calculations, Volcker compliance analysis, and managerial risk reporting

-Requires one (1) year of experience with the following skills:

• structuring bilateral transactions with derivative products including total return swaps, interest rate swaps, options, foreign exchange swaps, and callable swaps
• modeling financing vehicles using stochastic modeling techniques, Monte Carlo simulation, and market-based factors
• volatility analysis
• pricing variable rate products using time series techniques and adjusting for reset conventions, liquidity premiums, and seasonality factors
• optimizing funding cash positions with interest rate relations, funding mechanisms, no-arbitrage, and forward pricing methodologies
• Foreign Exchange risks
• programing languages including Scala, kdb+Q, Python, JavaScript, and HTML
• prepare marketing material, research, and data analysis findings for institutional investors and borrower related clients

Expected base pay rates for the role will be between $200,000 and $200,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. 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. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

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Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).