Firm Risk Management (FRM) supports Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, model and other risks.
Background on the Position
The position will reside within FRM's Electronic Trading Risk team in NY. The role will cover electronic trading across all asset classes including cash, derivatives, equity and fixed income products. The eTrading team within FRM oversees potential risks that electronic trading introduces, primarily across the Market and Operational Risk spectrum. The successful candidate will leverage their subject matter expertise to contribute to the NY and Global team's objectives.
Primary Responsibilities
Review and analysis of algorithms, including controls and testing methods, as part of 2nd Line of Defense oversight of algorithmic trading.
Oversight of trading limits and controls to ensure the business is taking risk consistent with the Firm's strategy
Implementation of the governance and controls policy for FRM eTrading including assisting in the development of new controls where appropriate
Provide senior management with an independent view of the Firm's Electronic Trading Risks in relation to information and technology practices. Assess the effectiveness of relevant eTrading control environment
Support senior management governance and risk committees with Electronic Trading updates.
Liaise and work with control and process owners in providing Operational Risk Coverage
Provide challenge and guidance to 1st line of defense assessments of their electronic trading risks and controls self-assessment (eRCSA)
Review technology and security risk issues as well as internal and external incidents in order to help inform the 2nd line of defense independent view of the eTrading and overall technology and security risk posture of the Firm and its underlying legal entities
Develop and review metrics and escalation reports to monitor risk and control effectiveness, issues and trends
Work directly with a diverse set of stakeholders including: Sales and Trading, Business Control Units, Desk Strategists, Compliance, Internal Audit, Technology, and Regulatory relations.
Maintain active dialogue with trading desks, risk management colleagues, and other support groups regarding electronic trading and hedging strategies, risk representation, and limit compliance
Communicate key risks to senior management on a regular basis, including creation of presentations articulating key risks and portfolio changes. Escalate emerging or developing risks as the technological landscape evolves
Experience
An excellent academic background, including an advanced degree in a quantitative discipline, such as economics, finance, sciences or engineering. Additional qualifications, such as an FRM, would also be looked upon favorably
3+ years of experience in a role with direct exposure to electronic trading (Trading, Trading System Support, Risk Management, Technology, Compliance etc.); 10 years + of relevant industry experience
Experience with electronic trading technologies and concepts, e.g. algo development, market micro-structure, regulatory rules, and market data
Solid understanding of electronic trading and the electronic trading environment, including applicable electronic trading regulations
Proactive, with ability to work independently in a self-directed way in a collaborative, global team-oriented environment
Excellent communication skills for written, graphical and verbal presentation; ability to produce concise and effective presentations
An interest in working in a fast-paced environment, often balancing multiple high priority deliverables across different time zones
Ability to maintain strong working relationships while providing appropriate challenge and oversight
Strong knowledge of financial products. Business analysis, program/project management, involvement in governance is preferred
Proficiency with a variety of IT applications as well as a good understanding of programming is advantageous is preferred
Experience with Software Development Lifecycle (SDLC), testing and QA is very desirable
Expected base pay rates for the role will be between $110,000 and $190,000 year at the commencement of employment. 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's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
