Counterparty Credit Underwriting - xVA, Fixed Income - VP/ED
Morgan Stanley, New York, NY, United States
Executive Director Or Vice President, XVA Desk
Morgan Stanley is seeking an Executive Director or Vice President in New York to work on the counterparty risk underwriting within its XVA desk with a focus on uncollateralized derivatives globally. The XVA desk owns and manages the credit counterparty risk on derivative transactions in coordination with the second line departments (credit teams, legal, etc.). Commodity derivatives often involve significant exposure to counterparties for the bank: understanding and managing this underlying risk is essential to protect against potential losses from counterparty default. This is a front office role in the Fixed Income Division. Reporting will be locally and functionally to the team in NYC. Key Responsibilities: Due Diligence & Credit Risk Underwriting Assess, underwrite and "own" the counterparty credit risk associated with Fixed Income derivative transactions Evaluate hedging transactions based on the counterparties' creditworthiness, financial strength (including through financial modelling and scenario analysis) and risk mitigants Incorporate the directionality of underlying derivative exposure and consider idiosyncratic/ legal/political considerations and the unique characteristics of the structures Leverage your experience with a wide range of transaction types and collaborate closely with the sales, structuring, credit and legal teams to assess credit risk implications and negotiate appropriate mitigants Underwriting Guidelines Help develop and maintain guidelines and policies specific to underwriting Fixed Income derivatives Portfolio Management Monitor counterparty credit risk exposures within the Fixed Income hedging portfolio. Identify emerging risks/themes and discuss potential risk mitigation strategies Stakeholder Management Build and maintain strong relationships with internal stakeholders including the sales & trading desks, credit management teams, legal, compliance, and senior management, fostering collaboration and effective communication Qualifications: Bachelor's degree in Finance, Economics, Engineering or a related field; advanced degree (e.g., Master's, MBA) preferred Extensive experience (5+ years) in project finance, structuring, Fixed Income derivatives, counterparty risk management, credit underwriting, or related roles within a top-tier investment bank or financial institution A background in commodities or project finance is a plus Understanding of project finance structures, commodity and credit markets, derivatives products, and risk management practices in general Analytical mindset with strong problem-solving skills and attention to detail Effective communication and presentation skills, with the ability to articulate complex concepts and recommendations to senior management and stakeholders Ability to thrive in a collaborative, cross-functional environment and drive results through influence and effective stakeholder management Expected base pay rates for the role will be between $160,000 and $250,000 per year at the commencement of employment for Vice President, and between $225,000 and $250,000 per year at the commencement of employment for Executive Director. 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).
Morgan Stanley is seeking an Executive Director or Vice President in New York to work on the counterparty risk underwriting within its XVA desk with a focus on uncollateralized derivatives globally. The XVA desk owns and manages the credit counterparty risk on derivative transactions in coordination with the second line departments (credit teams, legal, etc.). Commodity derivatives often involve significant exposure to counterparties for the bank: understanding and managing this underlying risk is essential to protect against potential losses from counterparty default. This is a front office role in the Fixed Income Division. Reporting will be locally and functionally to the team in NYC. Key Responsibilities: Due Diligence & Credit Risk Underwriting Assess, underwrite and "own" the counterparty credit risk associated with Fixed Income derivative transactions Evaluate hedging transactions based on the counterparties' creditworthiness, financial strength (including through financial modelling and scenario analysis) and risk mitigants Incorporate the directionality of underlying derivative exposure and consider idiosyncratic/ legal/political considerations and the unique characteristics of the structures Leverage your experience with a wide range of transaction types and collaborate closely with the sales, structuring, credit and legal teams to assess credit risk implications and negotiate appropriate mitigants Underwriting Guidelines Help develop and maintain guidelines and policies specific to underwriting Fixed Income derivatives Portfolio Management Monitor counterparty credit risk exposures within the Fixed Income hedging portfolio. Identify emerging risks/themes and discuss potential risk mitigation strategies Stakeholder Management Build and maintain strong relationships with internal stakeholders including the sales & trading desks, credit management teams, legal, compliance, and senior management, fostering collaboration and effective communication Qualifications: Bachelor's degree in Finance, Economics, Engineering or a related field; advanced degree (e.g., Master's, MBA) preferred Extensive experience (5+ years) in project finance, structuring, Fixed Income derivatives, counterparty risk management, credit underwriting, or related roles within a top-tier investment bank or financial institution A background in commodities or project finance is a plus Understanding of project finance structures, commodity and credit markets, derivatives products, and risk management practices in general Analytical mindset with strong problem-solving skills and attention to detail Effective communication and presentation skills, with the ability to articulate complex concepts and recommendations to senior management and stakeholders Ability to thrive in a collaborative, cross-functional environment and drive results through influence and effective stakeholder management Expected base pay rates for the role will be between $160,000 and $250,000 per year at the commencement of employment for Vice President, and between $225,000 and $250,000 per year at the commencement of employment for Executive Director. 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).