What are the responsibilities and job description for the Executive Director & Senior Municipal Research Analyst position at Morgan Stanley?
Morgan Stanley Investment Management (“MSIM”), together with its investment advisory affiliates, has more than 1,100 investment professionals around the world and $1.6 trillion in assets under management or supervision as of December 31, 2021. Morgan Stanley Investment Management strives to provide strong long-term investment performance, outstanding service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
The Municipals Fixed Income Securities team is one of the largest municipal bond-focused teams in the industry with decades of experience. They strive to meet the income and return goals of investors by offering strategies spanning the entire yield curve and credit spectrum. The team offers ESG-driven strategies as well, driven by proprietary credit research in conjunction with Calvert. Their consistent, proven research process and relative-value trading approach has earned the team national recognition for its tax-exempt strategies.
The Executive Director will be responsible for analyzing US municipal fixed income securities, providing complex research, as well as fundamental and technical advice to Portfolio Managers and Traders. They will be responsible for analyzing and evaluating the creditworthiness of highly complex municipal, corporate and project finance credit issues using qualitative and quantitative skills. Additional responsibilities include providing recommendations on investments to Portfolio Managers by means of written evaluation, verbal presentation, and discussion and acting as a significant contributor to the Municipal team’s investment decision making process. This individual will be assigned market sectors on which to focus his/her continual surveillance, new investments, research, and communications.
What You’ll Do In The Role
What you’ll bring to the role
Expected base pay rates for the role will be between $200,000 and $300,000 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.
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.
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).
What You Can Expect From Morgan Stanley
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values — putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back — that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. 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.
We're committed to bringing passion and customer focus to the business.
$200,000 and $300,000
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).
The Municipals Fixed Income Securities team is one of the largest municipal bond-focused teams in the industry with decades of experience. They strive to meet the income and return goals of investors by offering strategies spanning the entire yield curve and credit spectrum. The team offers ESG-driven strategies as well, driven by proprietary credit research in conjunction with Calvert. Their consistent, proven research process and relative-value trading approach has earned the team national recognition for its tax-exempt strategies.
The Executive Director will be responsible for analyzing US municipal fixed income securities, providing complex research, as well as fundamental and technical advice to Portfolio Managers and Traders. They will be responsible for analyzing and evaluating the creditworthiness of highly complex municipal, corporate and project finance credit issues using qualitative and quantitative skills. Additional responsibilities include providing recommendations on investments to Portfolio Managers by means of written evaluation, verbal presentation, and discussion and acting as a significant contributor to the Municipal team’s investment decision making process. This individual will be assigned market sectors on which to focus his/her continual surveillance, new investments, research, and communications.
What You’ll Do In The Role
- Independently conduct research and analysis on individual municipal issuers that will focus on the credit worthiness and structure of particular securities.
- Collect, maintain, and analyze financial and statistical data and develop quantitative models to support fundamental research.
- Maintain extensive surveillance of assigned credits through evaluation of periodic financial reporting, monitoring various news sources, and communication with peer group professionals, external industry analysts, and management teams.
- Makes buy, sell, and hold recommendations and works with pricing service to ensure proper pricing of individual bonds.
- Potential to work on distressed/defaulted credits and work closely with legal counsel, investment bankers, bond trustees and other bondholders.
- Write credit surveillance reports and present analysis to colleagues. Recommend trade ideas based on relative value analysis.
- Works on projects relative to assigned sectors as appropriate.
- Train and mentor associate analysts
What you’ll bring to the role
- Bachelor’s degree required, Master’s degree and/or a CFA Designation is preferred.
- Minimum 10 years of relevant investment experience required, with a strong preference for hospital, corporate, project finance or P3 transportation experience.
- Seasoned analyst having delivered consistently strong performance.
- Superior understanding of securities analysis, valuation methods, qualitative and quantitative techniques.
- Excellent research knowledge, analysis and decision-making skills.
- Excellent verbal, written and interpersonal communication skills are essential.
- Ability to work well independently and as a member of a team, which includes the ability to be flexible and adaptable.
- Advanced PC computer skills, as well as industry software
Expected base pay rates for the role will be between $200,000 and $300,000 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.
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.
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).
What You Can Expect From Morgan Stanley
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values — putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back — that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. 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.
We're committed to bringing passion and customer focus to the business.
$200,000 and $300,000
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).
Salary : $200,000 - $300,000
