Fixed Income Division – Associate/Vice President, xVA Trading (New York)

16 MS & Co., LLC; New York (NY); On-site; USD 150,000 - 250,000; Full time

Job summary

Morgan Stanley in New York seeks an Associate or Vice President-level xVA Trader to price and risk-manage credit, funding, and collateral risks on OTC derivatives within the Fixed Income Division.

The role involves evaluating new transactions, pricing xVA, and hedging activities, while coordinating with Sales and Trading on counterparty issues in a fast-paced environment.

Qualifications

• Bachelor or Master degree in a quantitative field such as Math, Engineering or Science
• Good understanding of Fixed Income Products (Rates, Bonds, FX, CDS…)
• Strong quantitative and analytical skills; team player and eager to learn

Responsibilities

• Evaluate and price credit and funding, and collateral optionality.
• Risk-manage trading book positions and hedge as needed; review P&L and trade bookings.
• Communicate with Sales and Trading desks on counterparty issues and pricing.
• Execute hedging transactions for xVA per desk procedures and manage day-to-day trading issues

Skills

Quantitative field

Fixed income knowledge

Analytical & problem-solving

Team player / willing to learn

Education

Bachelor or Masters in a quantitative field

Job description

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries. As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

The Fixed Income Division is comprised of Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manage risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets.

The Commodities Division is a market leader in energy, metals, and agricultural product trading worldwide whose professional’s trade in both physical and derivative commodity risk.

The xVA Trading Desk is looking for an Associate or Vice President level Trader.

The xVA business is responsible for pricing and risk managing counterparty, funding and collateral risks associated with OTC derivatives for Morgan Stanley’s Fixed Income Division. The desk coverage includes Rates, FX, Credit and Commodities OTC derivatives.

Job Description

This role includes evaluating and pricing of credit and funding as well as collateral optionality; risk-managing the existing derivative portfolio by executing trades and optimizing portfolio hedges as well as frequent communication with the sales and trading desks for general counterparty issues. Evaluate new transactions & price xVA for those trades. Risk manage trading book positions, understand risk measures, and ensure risk limits are adhered to. Execute transactions for hedging of xVA risks in accordance with desk procedures. Manage day-to-day issues of trading book; P&L review and sign-off, trade bookings, new trade fees etc. Provide feedback to functional groups related to derivative risks arising from ISDA terms.

Qualifications

• Bachelor or Masters in a quantitative field such as Math, Engineering or Science.
• Good understanding of Fixed Income Products (Rates, Bonds, FX, CDS…). Able to perform in a high paced environment, make fast decisions and prioritize as required.
• Strong quantitative, analytical, and problem-solving skills. Team player, enthusiastic and willing to learn.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Expected base pay rates for the role will be between $150,000 and $200,000 per year at the commencement of employment for Associate and between $160,000 and $250,000 at the commencement of employment for Vice President. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents. Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences. For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.

At Morgan Stanley, we advise, originate, trade, manage and distribute capital for people, governments and institutions, always with a standard of excellence and guided by our core values. Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world. In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.