Fixed Income Division – Associate/Vice President, xVA Trading (New York)
About The Position
The Fixed Income Division’s xVA Trading Desk is seeking an Associate- or Vice President-level Trader. The xVA business prices and risk-manages counterparty, funding, and collateral risks associated with OTC derivatives for Morgan Stanley’s Fixed Income Division. Desk coverage includes Rates, FX, Credit, and Commodities OTC derivatives. The role involves evaluating and pricing credit and funding risks and collateral optionality, risk-managing the existing derivatives portfolio through trade execution and hedge optimization, and communicating frequently with sales and trading desks about general counterparty issues. The position also manages day-to-day trading-book matters, including P&L review and sign-off, trade bookings, and new-trade fees, and provides functional groups with feedback on derivative risks arising from ISDA terms.
Requirements
- Bachelor’s or master’s degree in a quantitative field such as mathematics, engineering, or science.
- Good understanding of fixed-income products, including rates, bonds, FX, and CDS.
- Ability to perform in a fast-paced environment, make quick decisions, and prioritize as required.
- Strong quantitative, analytical, and problem-solving skills.
- Team player who is enthusiastic and willing to learn.
Responsibilities
- Evaluate new transactions and price xVA for those trades.
- Risk-manage trading-book positions, understand risk measures, and ensure risk limits are adhered to.
- Execute transactions to hedge xVA risks in accordance with desk procedures.
- Manage day-to-day trading-book issues, including P&L review and sign-off, trade bookings, and new-trade fees.
- Provide feedback to functional groups about derivative risks arising from ISDA terms.
- Communicate frequently with sales and trading desks about general counterparty issues.
- Optimize portfolio hedges and risk-manage the existing derivatives portfolio.
Benefits
- Morgan Stanley-sponsored benefit programs and employee perks; details are not specified.
- Potential commission earnings, incentive compensation, discretionary bonuses, and other short- and long-term incentive packages, depending on the position.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
