Interest Rate Strat - Fixed Income - Associate / Vice President

Company Profile:

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.

Department Profile:

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 across a broad range of commodities markets, with expertise in areas including client risk management, financing solutions and investor products Sales & Trading.

From the largest global institutions to innovative new hedge funds, investors come to Morgan Stanley for sales, trading, and market-making services in almost every type of financial instruments including stocks, bonds, derivatives, foreign exchange, and commodities. Our professionals provide liquidity and content to clients around the world, actively assessing and managing risk, trading securities, and planning and executing transactions in the fast-changing markets. As the needs of our clients become increasingly complex, we often develop customized solutions.

Roles Overview:

US Swaps Strats team is seeking a highly skilled professional at Associate or VP level based to tackle quantitative and technology challenges within US. This role will be based in New York.

Responsibilities:

• The candidate will work closely with traders on day-to-day trading needs, including pricing, valuation, hedging, and risk management.
• Conduct research and enhance yield curve modelling to better reflect market dynamics and business objectives especially in short end interest rates.
• Ongoing optimization and modernization of trader tooling and market making process.
• Developing data driven analytics dashboard to identify commercial opportunities.
• Partnering with IT to co-ordinate buildout of next generation of intraday risk management and P&L systems.
• Participate to desk and firm wide quant efforts, including workflow improvements, funding/IM/notional efficiency optimization.
• Provide quantitative insights on PnL and risks for trading desk, including but not limited to scenario analysis, stress testing, sensitivity analysis.
• Developing and supporting trading desks pricing, risk management and P&L monitoring tools.
• Liaising with control functions on quantitative issues pertaining to their roles.

Roles Requirements:

• Education: Master’s or Ph.D. in a quantitative discipline (Mathematics, Physics, Computer Science, Engineering, or Financial Engineering).
• Programming Skills: Proficiency in C++, Scala, Python, KDB+/Q.
• Financial Knowledge: Solid understanding of liquid flow rates products.
• Mathematical Expertise: Strong foundation in calculus, linear algebra, statistics, and numerical methods for solving complex financial problems.
• Analytical Ability: Proven capability to grasp complex mathematical concepts and apply them effectively to real-world trading scenarios.

Preferred Experiences:

• Minimum 3 years in a desk/e-trading quant role within flow rates products, ideally in swaps.
• Knowledge of Fixed-Income Derivatives, including Curve building, Collateral, and Optimization.
• Strong statistical/econometric skills and ability to analyze large datasets using KDB+/Q.

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 90 years. 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.

Pay Transparency

Expected base pay rates for the role will be between $150,000 and $200,000 for Associate and between $160,000 and $250,000 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.