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Morgan Stanley is a global investment bank with a leading institutional sales and trading business, comprising Cash Equities, Equity Derivatives, Prime Brokerage and Electronic Trading. It also operates a Fixed Income business comprising Commodities, Macro Products (rates, FX) and Credit.
The Australian Sales & Trading business was established in 1997 and has grown organically to a position where it is #2 by ASX equities market share, with a leading prime brokerage and OTC derivatives capability. The successful applicant will primarily support the Australian business and will also be a regional sales and trading resource assisting with other matters across the region. The role is located in Sydney and reports to the Australian Country Head of Legal and to the Head of Sales and Trading Legal in Hong Kong.
· Day-to-day coverage of the Australian equities business, a major ASX and ASX24 market and clearing participant trading in equities, futures, options, stock loan, repo, OTC derivatives
· Day-to-day coverage of the fixed income business, which trades spot FX, OTC derivatives (rates and FX) and commodity derivatives with Australian institutions
· Advising the business and Compliance on Australian legal issues under the Corporations Act, ASIC and ASX rules and guidance and other legislation, including major shareholder disclosure rules, reporting rules and outsourcing
· Legal due diligence on new products and services including due diligence on fund jurisdictions and structures including offshore funds and Australian managed investment schemes; to include insolvency analysis, licensing and registration requirements, marketing and distribution regulations
· ASIC licensing analysis for Morgan Stanley's Australian entities and for US, EU and Asian entities dealing with Australian clients under class orders and exemptions
· Reviewing legal opinions in respect of netting and collateral enforceability under a range of product agreements including securities lending, repo, ISDA master agreements and credit support documentation, prime brokerage agreements and clearing agreements
· Advising Credit, Risk Management and Documentation on issues arising in connection with master agreement negotiations (ISDA, prime brokerage, securities lending, repo, clearing) including additional terms for particular counterparty types, taking security, perfection of collateral
· Assisting with ISDA negotiations with top tier institutional clients including major Australian superannuation funds
· Attending calls and meetings with clients to discuss issues of interest to clients including counterparty risk, regulatory developments and facilitate negotiation of client documentation
· Structuring complex equities, FX and rates transactions for private equity funds in connection with loan facilities, acquisitions and divestments
· Lead the Australian implementation of regulatory reforms including OTC reporting, clearing mandates and uncleared margin rules, reporting into the Firm's global governance structure for regulatory reform.*L1-GK2
Skills / background
· 7-12 years derivatives, equities and global markets experience gained in a global investment bank and/or leading law firm
· An expert technical legal skill set complemented by enhanced analytical and problem solving, project management, negotiation, influencing and people-focused skills
· Proven capacity to execute with focus in a constantly changing, dynamic and challenging global market
· Demonstrated success in building internal and external relationships - able to help win new business and build excellent partnerships with key institutional clients
· Skilled in working with front office and clients to understand requirements, identify opportunities and build world class products capable of supporting massive transaction volumes and notional values
· Commercial and pragmatic - able to see the bigger picture, with proven capacity to assess and manage multiple facets of risk including legal risk, reputational risk, operational risk and conduct risk