Valuation Review Group
Position 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.
This role is within the Valuation Review Group (VRG) which is part of the Financial Control Group. VRG is a high profile team within Morgan Stanley with a strong reputation for valuation control excellence and advanced product technical knowledge.
This role will be specifically within the European Interest Rate and Currency team of VRG and with significant support from more experienced team members will focus initially on our structured interest rates business. The type of products covered will include: swaps, options and exotics derivatives.
The team is responsible for all valuation issues in respect of their product areas, in particular, external price testing, valuation adjustment (reserving) methodologies, and reviews of both the valuation and modeling of significant new complex trades. The candidate will be specifically responsible for the following:
•Production and reporting of the monthly mark review to ensure positions are marked correctly in the firm's books and records. As many of the positions are illiquid, this requires working closely with the Model Risk quantitative team within VRG to develop innovative valuation techniques.
•Gain a full understanding of the products traded by the desk and their marking/valuation adjustment methodologies.
•Perform documented reviews of the modeling and parameter mark review methodologies of significant new transactions for presentation to management.
•Regular contact with Business Unit Controllers on a daily basis and in particular during the month end mark review process.
•Interaction with the Business Unit during the monthly mark review process.
•Project work as required on new systems and functionality enhancements.
•Working with senior managers to improve efficiency by challenging processes and procedures.
Skills Required
•Prior work experience within a Product Control or Valuations function preferred.
•Derivatives knowledge/experience highly beneficial.
•A qualified accountant or equivalent incl. CFA, MSc etc preferably with investment banking experience.
•Excellent academics including a good degree (or equivalent) in a highly numerate subject and good A level (or equivalent) results are required to be able to manage the product technical complexity of this area.
•The successful candidate will need drive, determination and have an ability to work under pressure and to tight monthly deadlines.
•They should also have self confidence, have good communication skills and be a strong team player as it is important to interact successfully with other team members, management, the Business Unit and Business Unit Controllers.
Skills Desired
As above
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