Associate, Trading

Morgan Stanley • New York, NY

2d • $200,000 - $200,000

About The Position

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.

Requirements

• 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

Responsibilities

• 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 This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees