Associate – Market Risk Capital Group

Job Number: 3175367

POSTING DATE: May 14, 2021

PRIMARY LOCATION: Americas-United States of America-New York-New York

EDUCATION LEVEL: Bachelor’s Degree

JOB: Central Functions

EMPLOYMENT TYPE: Full Time

JOB LEVEL: Associate

DESCRIPTION

Morgan Stanley

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 five core values rooted in integrity, excellence and strong team ethic:

1. Doing the Right Thing

2. Putting Clients First

3. Leading with Exceptional Ideas

4. Committing to Diversity and Inclusion

5. 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:

• Flat, flexible and integrated global organization
• Collaboration and teamwork
• Credible, independent decision-making
• Organizational influence
• Creative and practical solutions
• Meritocratic and diverse culture

Position Description

Morgan Stanley seeks a professional with previous experience in a multi-disciplined risk management function as an Associate in the Risk Department. The Risk Department provides independent risk oversight across the Firm’s trading and lending activities.

Based in New York, this role is in the market risk capital team within the Risk Based Capital group. The role involves a diverse range of risk management responsibilities and provides exposure across the business units as well with other control groups inside Morgan Stanley. We seek candidates with a strong desire to learn and the ability to excel in a relatively small multidisciplinary team.

Primary job responsibilities include:

• Calculate the firm’s market risk capital. Strong knowledge of current market risk capital framework, including, VaR, Stressed VaR, IRC, CRM and Standardized Calculations, as well as CVA Capital Framework is a key requirement
• Perform analysis on the proposed Fundamental Review of Trading Book (FRTB)
• Perform market risk RWA projections under CCAR and other stress testing projects
• Identify and analyze market risk across all business areas and asset classes
• Daily analysis and commentary on VaR, Basel 3 measures and outputs
• Work with external groups to present changes in capital and Risk Weighted Assets
• Develop tools to better understand and communicate risk concentrations and drivers of risk and capital
• Create and deliver presentations designed to articulate key risks to senior management
• Engage and build relationships with colleagues across the firm to identify and develop an understanding of risk issues that could affect the firm
• Engage and lead in extensive project work

ORGANIZATION

Functional Knowledge

It is essential that the candidate can perform the role effectively and efficiently due to daily deadlines and sensitivity of the numbers produced. Knowledge of financial products is essential, including an understanding of risk Greek representations. A solid understanding of risk management concepts such as VaR, stress testing and scenario analysis is required. A strong understanding of regulatory capital frameworks, such as Basel 3 and the Fundamental Review of the Trading Book, is required.

Strong proficiency with PowerPoint and Excel is required; VBA, R or other programming skills as well as a working knowledge of databases and SQL is advantageous; more generally, the candidate needs to be very comfortable using a variety of IT applications.

Educational Background

Suitable candidates will have an excellent academic background, including a degree in a quantitative discipline, such as economics, finance, sciences or engineering. Higher degrees or other qualifications, such as an FRM, would also be looked at favorably.

Professional Skills

The risk analysis produced by the department is used to brief senior management and needs to be both timely and accurate. It is therefore essential that candidates are able to demonstrate diligence as well as strong quantitative and investigative skills.

The role involves working closely with several other areas, therefore the candidate must be able to develop strong working relationships and be capable of communicating clearly; both verbal and written communications. As the candidate will be working with many different constituents, prior managerial experience would be a plus.