What are the responsibilities and job description for the Fixed Income Trading Risk - First Line - Vice President position at Morgan Stanley?
Morgan Stanley's Institutional Securities Group (ISG) is a remarkably broad and diversified business. We provide institutions with almost every kind of financial product and service across the world's major markets. Whether you're interested in planning complex deals; trading on the moment-to-moment movements of the capital markets; analyzing the financial needs of a company or a wealthy family, Morgan Stanley is the place to be.
The Fixed Income Division (FID) is comprised of Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manages risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets. The Commodities Division is a market leader in energy, metals, and agricultural product trading worldwide whose professional’s trade in both physical and derivative commodity risk.
FID Trading Risk Management (“TRM”) is a First Line of Defense function which is responsible for overseeing FID’s market risk, including market risk resulting from FID’s trading activities. In addition, TRM oversees credit risk arising from extensions of credit to clients through various FID direct lending commitments and from relationship and event loan transactions undertaken by the Firm’s Global Capital Markets group. As part of the FID division, the TRM function identifies, assesses, and oversees the risk positions within Fixed Income and ensures risk positions are in line with risk appetite of the division and the firm. The TRM team is looking for a strategic and highly motivated professional to join.
Summary
The role of the function includes (but not limited to):
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.
Expected base pay rates for the role will be between $145,000 and $250,000 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'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 Fixed Income Division (FID) is comprised of Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manages risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets. The Commodities Division is a market leader in energy, metals, and agricultural product trading worldwide whose professional’s trade in both physical and derivative commodity risk.
FID Trading Risk Management (“TRM”) is a First Line of Defense function which is responsible for overseeing FID’s market risk, including market risk resulting from FID’s trading activities. In addition, TRM oversees credit risk arising from extensions of credit to clients through various FID direct lending commitments and from relationship and event loan transactions undertaken by the Firm’s Global Capital Markets group. As part of the FID division, the TRM function identifies, assesses, and oversees the risk positions within Fixed Income and ensures risk positions are in line with risk appetite of the division and the firm. The TRM team is looking for a strategic and highly motivated professional to join.
Summary
The role of the function includes (but not limited to):
- Monitoring of FID P&L and risk positions; escalating /informing FID Senior Management as appropriate.
- Monitoring risk in conjunction with various risk stripes within Firm Risk Management (“FRM”).
- Establishing FID level market risk limits and limit definitions and monitoring and enforcing FID owned limit excesses.
- Allocating and monitoring market risk limits and definitions set by Market Risk Management (“MRD”).
- Escalating market and credit (lending) limit excessions and approving limit changes.
- Tasks on a daily basis of the team include (but are not limited to)
- Close communication with trading desks and active monitoring of trading/risk activity and PnL events
- Follow financial markets and products, explain and analyze desk pnl and risk positions in details.
- Informing FID management of Risk and PnL performance.
- Liaison and collaboration with second line of defense (risk department) of the firm
- Working with Strats and IT functions to enhance risk representation and PnL attribution.
- Understand the relevant systems, risk measures, and controls utilized within AOR (including maintain relevant knowledge of IT systems).
- 5 years of relevant experience
- Ability to analyze risk positions and P&L performances
- Well-versed with financial markets and financial products.
- Central to the role will be analytical and numerical skills, financial knowledge and commercial acumen.
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.
Expected base pay rates for the role will be between $145,000 and $250,000 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'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 : $145,000 - $250,000
