Executive Director & Senior Risk Manager, Global Macro

Morgan Stanley • West Conshohocken, PA

4d • $225,000 - $300,000

About The Position

Morgan Stanley Investment Management’s AIP Hedge Fund team is seeking a Senior Risk Manager to support a multi-manager global macro hedge fund. The team works directly with portfolio managers to optimize portfolio construction, manage risk, develop quantitative investment tools, and improve investment performance. This analytical, markets-oriented role sits at the intersection of risk management, portfolio construction, and investing.

As a senior member of the team, the role works closely with the Portfolio Manager, CRO, Business Development team, and portfolio managers across the platform. It also plays a significant role in managing and developing the fund’s central trading and risk management infrastructure. The role calls for strong quantitative skills, practical markets experience, and investment judgment, with an investor- and portfolio-manager-oriented approach supported by analytical discipline and independence.

The successful candidate will apply data and quantitative methods to complex investment problems, communicate portfolio risks and opportunities, and contribute to investment decisions affecting individual PM portfolios and the broader platform.

Requirements

• At least seven years of relevant experience, ideally spanning risk management, portfolio construction, trading, or investing.
• Deep understanding of capital markets and portfolio risk, ideally developed through direct experience working with or managing portfolios.
• Strong knowledge of portfolio construction and optimization, risk models, risk decomposition, position sizing, hedging, portfolio constraints, and market impact modeling.
• Strong quantitative and statistical skills, with the ability to translate analysis into practical investment decisions.
• Proficiency in Python and SQL, experience working with large financial datasets, and experience developing analytical or research tools.
• Strong intuition for how portfolios behave in real markets, including liquidity, positioning, crowding, catalysts, market structure, and changing correlations.
• Excellent communication skills and the ability to explain sophisticated quantitative and risk concepts clearly to portfolio managers and senior investment professionals.
• Ability to operate effectively in a fast-moving investment environment, independently identify important problems, and move between detailed quantitative research and higher-level portfolio judgment.

Nice To Haves

• Prior experience in a role involving direct investment or trading decisions is strongly preferred.
• Experience in investing, trading, portfolio management, or another role involving direct responsibility for investment decisions and outcomes is strongly preferred.

Responsibilities

• Work directly with PMs to identify and manage portfolio risks, including VaR, market and factor, event, Greek, thematic, concentration, liquidity, crowding, correlation, and other systematic and idiosyncratic exposures.
• Advise PMs on portfolio construction, position sizing, hedging, diversification, and risk management to improve portfolio robustness and risk-adjusted returns.
• Analyze portfolio behavior across market environments and stress scenarios, distinguishing intended investment exposures from unintended or inefficient risks.
• Evaluate portfolio performance and sources of alpha, including attribution across asset classes, products, Greeks, themes, and individual positions; identify persistent strengths, weaknesses, and opportunities to improve portfolio construction.
• Contribute to platform-level decisions regarding risk allocation, capital deployment, portfolio constraints, and interactions among individual PM portfolios.
• Develop and enhance portfolio construction and optimization methodologies, including alpha combination, risk-model integration, exposure management, turnover and transaction-cost controls, and portfolio constraints.
• Monitor market developments and proactively communicate portfolio risks, opportunities, and positioning implications to portfolio managers and senior leadership.
• Partner with trading to improve execution and implementation efficiency.
• Design and develop Python-based analytical tools, research infrastructure, and automation to improve portfolio analytics and investment workflows.
• Help manage and develop the fund’s central trading and risk management infrastructure.

Benefits

• Comprehensive employee benefits and perks.
• Compensation may include commission earnings, incentive compensation, discretionary bonuses, and other short- and long-term incentive packages.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed