Executive Director & Senior Risk Manager, Global Macro

Morgan Stanley; West Conshohocken (PA); On-site; USD 150,000 - 210,000; Full time

Job summary

Morgan Stanley Investment Management seeks a Senior Risk Manager for its AIP Hedge Fund team to support a multi-manager global macro hedge fund. The role focuses on risk identification, portfolio construction, and quantitative tooling to enhance risk-adjusted returns across the platform.

The ideal candidate will combine quantitative depth with practical markets experience and independent judgment, working with PMs, the CRO, and senior leadership to drive robust risk management and innovative

Qualifications

• Minimum of seven years of relevant experience in risk management or portfolio construction.
• Deep understanding of capital markets and portfolio risk.
• Strong knowledge of portfolio construction and risk models.

Responsibilities

• Identify and manage portfolio risks with VaR, market/factor, Greek and concentration risks.
• Advise PMs on construction, sizing, hedging and risk management to improve risk-adjusted returns.
• Analyze portfolio behavior across markets and stress scenarios.
• Evaluate performance and alpha attribution across asset classes and positions.
• Contribute to risk allocation, capital deployment and portfolio constraints.
• Develop optimization methodologies: alpha combination, risk-model integration, exposure management.
• Monitor market developments and communicate risks to PMs and leadership.
• Partner with trading to improve execution.
• Design Python-based analytics tools and automation for workflows.

Skills

Risk management

Portfolio construction

Python

Quant analysis

Hedge funds

Tools

Python

Job description

Morgan Stanley Investment Management (MSIM) is one of the largest global asset management organizations of any full-service securities firm, with more than 50 years of history, a presence in 26 countries, and a total of $2 trillion in assets under management as of June 30, 2026.

MSIM provides broad-based specialization across a range of asset classes in public and private markets. Our independent investment teams leverage Morgan Stanley's global resources to serve a diverse client base of governments, institutions, corporations, advisors and individuals worldwide. Our investment solutions include a broad range of alternatives, high-conviction active strategies, customization strategies, ESG expertise and tax management solutions. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im

The AIP Hedge Fund team, part of our Solutions & Multi-Assets capability, specializes in delivering a broad range of hedge fund portfolio solutions to a global client base. Their strategies include custom hedge fund portfolios; broadly-diversified, opportunistic and strategy-specific funds; and advisory services.

We are seeking a Senior Risk Manager to join the AIP Hedge Fund team responsible for supporting a multi-manager global macro hedge fund. The team partners directly with portfolio managers to optimize portfolio construction, manage risk, develop quantitative investment tools, and improve investment performance across the platform. This is a highly analytical and markets-oriented role at the intersection of risk management, portfolio construction, and investing .

As a senior member of the team, this individual will working closely with the Portfolio Manager, CRO, Business Development team, and individual portfolio managers across the platform, while also playing a significant role in managing and developing the fund's central trading and risk management infrastructure . The role is well suited to someone who combines strong quantitative skills with practical markets experience and investment judgment.

The ideal candidate is someone who thinks like an investor and portfolio manager rather than a traditional risk-control professional, while bringing the analytical discipline and independence required of a senior risk professional.

The successful candidate is intellectually curious, collaborative, and enjoys solving complex investment problems using data and quantitative methods. They are equally comfortable discussing a portfolio's market factor, Greek and concentration risks with a PM and building an empirical framework to test a portfolio-construction hypothesis.

The strongest candidates will combine quantitative depth, markets intuition, and practical investment judgment-and will be motivated by the opportunity to influence both individual PM portfolios and investment outcomes across the broader platform.

Responsibilities

• Work directly with PMs to identify and manage portfolio risks, including VaR, market/factor, event, Greek, thematic, concentration, liquidity, crowding, correlation, event, and other sources of systematic and idiosyncratic exposure.
• Advise PMs on portfolio construction, position sizing, hedging, diversification, and risk management, with the objective of improving portfolio robustness and risk-adjusted returns.
• Analyze portfolio behavior across different 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 the interaction of individual PM portfolios within the overall fund.
• 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 that improve portfolio analytics and investment workflows.

Qualifications

• Minimum of seven years of relevant experience , ideally spanning risk management, portfolio construction, trading or investing. Prior experience in a role involving direct investment or trading decisions is strongly preferred.
• 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 decompos