Fixed Income Division - Analyst / Associate, Commodity Structurer

Morgan Stanley • New York, NY

6d • Hybrid

About The Position

Morgan Stanley's Fixed Income Division is seeking a Commodity Structurer for the Global Commodities Structuring Group, focusing on the North American Power and Gas (NAPG) desk. This role involves developing and managing complex transactions in the energy markets, working closely with origination and trading teams to provide risk management solutions and create PnL opportunities for a diverse client base. The position is based in Houston (preferred) or New York.

Requirements

• Bachelor's or Master's degree in finance/financial engineering, computer science, other engineering, mathematics, or another quantitative discipline.
• 1–3 years of relevant industry experience.
• Experience in the energy markets (natural gas or power preferred) or energy infrastructure project finance are a plus.
• Demonstrated interest in energy markets, particularly natural gas or power, through work experience, coursework, or independent study.
• Strong knowledge of Microsoft Excel and PowerPoint required.
• Strong analytical aptitude, communication, and attention-to-detail skills required.
• Coursework covering at least any one of the following topics required: corporate finance, financial accounting, probability & statistics, credit fundamentals.

Nice To Haves

• Advanced coursework in financial mathematics, option theory, is a plus, but not required.
• Programming experience (e.g., Python, C++, Scala, or other) is a plus, but not required.

Responsibilities

• Develop a deep understanding of market structure, fundamentals, and client solutions within NAPG markets.
• Work closely with power and gas origination and trading teams, managing risk and executing complex trades.
• Develop in-depth understanding of client motivations, pricing methodologies, market risk and credit risk management strategies, firm systems, and the transaction lifecycle for physical and financial gas deals.
• Perform pricing analysis and coordinate with strats, trading, and other relevant groups to help position the firm to win client mandates.
• Coordinate transaction execution process and act as a liaison between commodities and other client-facing teams such as IBD coverage, structured finance & lending and capital markets.
• Prepare client marketing materials as well as internal presentations for structured transaction review process.
• Perform ad hoc credit and market risk analysis in collaboration with internal risk review groups.
• Develop the booking plan and review deal confirmations in coordination with origination, trading, legal, operations, and credit teams prior to execution.
• Book trades upon execution and report PnL and risk to finance and risk control groups.
• Review current structured portfolios and update modeled parameters as required for live deals.
• Work with second-line teams to improve infrastructure, risk management, and operations.
• Act as a backup in the absence of team members.
• Work with middle office and back office on PnL and trade reconciliation, including investigating and resolving breaks.
• Work with IT to improve processes and systems, including automating recurring analysis and reporting.

Benefits

• Comprehensive employee benefits and perks in the industry.
• Opportunity to work alongside the best and the brightest.
• Supportive and empowering environment.
• Ample opportunity to move about the business.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level