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.
Department Profile
Firm Risk Management (FRM) supports 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, model and other risks.
Background on the Group
Morgan Stanley’s Risk Analytics department that resides within Firm Risk Management (FRM) performs quantitative analysis on the Firm’s Credit, Market, Operational, and Liquidity risk exposures. The department’s primary objective is to measure and project risks across the Firm to support executive decisions and protect the Firm. Risk Analytics has main presence in New York and London and attracts talent in Budapest and Mumbai.
Position Background and Responsibilities
Morgan Stanley recruits quantitative research associates for the Risk Analytics Department. The ideal candidate will be actively involved in market risk modeling and statistical analysis of Morgan Stanley’s portfolios for the Market Risk Department. The Market Risk Analytics group develops, maintains, and monitors the performance of market risk (VaR, Stressed VaR, IRC and CRM) and stress testing models for Morgan Stanley’s portfolio of assets, as required by the regulatory framework and the Firm’s risk management needs. Strong problem-solving abilities, solid writing, and oral presentation skills are desired. The candidate should be able to work in fast-paced environment and willing to learn and evolve along with the role.
Primary Responsibilities include, but are not limited to:
- Development, enhancement and maintenance of portfolio market risk models like IRC, CRM and DRC to ensure ongoing appropriateness and adaptations to new regulations
- Contribution to key regulatory deliverables and programs as well as analysis and interpretation of key regulatory requirements.
- Ensure robust implementation and timely completion of ongoing monitorings and evaluation of market risk models, review existing models to ensure they remain fit for purpose and make improvements where necessary.
- Take ownership of assigned deliverables and ensure timely, accurate and thorough analysis
- Document models and associated developmental analysis; present results to partners and stakeholders
Skills Required
- 4-7 years of work experience in Quantitative modeling, Risk Management, Algorithmic trading, Global markets, or any other quantitative/Data Science field.
- Deep understanding of quantitative risk including good knowledge of statistical modelleing, financial products and their risk representation.
- Excellent mathematical, analytical, problem solving and troubleshooting skills
- Strong programming skills and demonstrable experience in coding numerical methods and algorithms, data analysis and manipulation
- Advanced knowledge of at least one prototyping programming language (preferably Python) and preferably experience/knowledge of professional development concepts and technologies and modern development toolchain
- An interest in working in a fast-paced environment, often balancing multiple high priority deliverables.
Required Qualifications
- Postgraduate/ Advanced degree in Quantitative Finance, Mathematics, Econometrics, Engineering, or other Quantitative subjects.
Desirable Skills
- FRM, CFA, CQF certification is an advantage.