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	Your Opportunity as an Analyst in Risk Management

An overview of this program’s objectives and how you can benefit

The Market Risk Department (MRD) provides independent market risk oversight across the Firm. The goal of the two-year Analyst program is to develop talent for MRD and other risk management areas. Analysts in this program will have rotational assignments in different groups within MRD. These groups include (i) Portfolio Analysis and Reporting, (ii) Capital and Policy, (iii) Legal Entity Risk Management, and (iv) Research and Methodology. 

(i) Portfolio Analysis and Reporting: The group is responsible for aggregating, reporting and analyzing market risk across all businesses within Morgan Stanley, which include Institutional Securities, Asset Management, Global Wealth Management and Treasury. It also performs systematic and ad hoc scenario and stress testing across these businesses.

(ii) Capital and Policy: The group is responsible for the computation and analysis of risk-based market risk charges. It supports multiple regulators related to regulatory capital requirements. Additionally, the group defines principles and practices for sound market risk management within MRD and the firm as a whole.

(iii) Legal Entity Risk Management: The group performs risk management for key regulated legal entities, including the establishment of exposure limits, monitoring of risk taking and booking, and the improvement in risk representation and processes.

(iv) Research and Methodology: The group ensures that the VaR engine is functional and properly maintained. Specifically, the group updates time series used in VaR, analyzes risk representations and greeks from the businesses, and creates and implements new market risk methodologies.

The Analyst Program in Market Risk
How the program works and the day-to-day experience you can expect

The Program will involve the Analysts in all facets of market risk management. It provides exposure across various Morgan Stanley businesses, including sales and trading, asset management, real estate, and principal investing activities. The responsibilities of a first-year Analyst are diverse and will include but are not limited to:

• Reporting firmwide risk covering global activities, via reports and presentations
• Gaining an appreciation for risk management and governance processes
• Understanding and analyzing risk representation of various traded products and other investments
• Assisting in methodology and research related to market risk aggregation tools such as Value-at-Risk, stress testing, scenario analysis
• Understand issues surrounding regulatory and economic capital for market risk
• Represent MRD at cross-functional working groups; engage in extensive project work

The program generally lasts two years. Some Analysts may be invited to stay on as Associates. The Analysts are also encouraged to apply for positions in other related areas within Morgan Stanley, if appropriate, upon completion of the Program. Successful completion of the Analyst Program may also create external career opportunities. Alternatively, many departing Analysts choose to pursue graduate educational opportunities.

Launching Your Career
The initial training that you receive on starting the program

Formal training lasts approximately three weeks. The first two weeks include intensive accounting and finance study, training on Morgan Stanley systems, and in-depth training on other standard software. Further, there is one week of risk-specific training, in which senior Morgan Stanley professionals make interactive presentations about their departments and responsibilities and how those functional areas interface with Market Risk. Department members provide presentations on technical matters, and there is a wide range of presentations about practical use of systems, and "how to" sessions about writing reviews, loan approvals and spreading financial statements.

Developing Your Career
What you can anticipate as you make progress and after completing the program

Senior management takes a keen interest in your progress as an Analyst, and will look to you for fresh perspectives and new ideas. You will be encouraged to take on responsibility quickly with a view to developing your career. To help in this process, you will typically be assigned both a junior mentor and a senior mentor to act as your confidants and provide you with day-to-day advice.

Mobility is an important part of building a Morgan Stanley career, and Analysts are encouraged to rotate within the Investment Banking Division and Global Capital Markets, and across country, product and industry groups. Whether you pursue investment banking or a related financial field, the skills and experience you develop as an Analyst will give you a strong foundation for your career.

Additional training throughout the year may take the form of market and strategic updates, group overviews and case studies. We also support you in taking language classes and financial examinations, such as CFA and FSA qualifications, where necessary.

Is Market Risk Right for You?
A checklist to help you decide if you have the skills and temperament for this area

It is essential that candidates are able to perform the role effectively and efficiently due to daily deadlines and the sensitivity of information produced.  Knowledge of financial products is important, including an understanding of greek representations.  Strong proficiency with Excel and PowerPoint are required; programming skills with Matlab and VBA is desired; and working knowledge in databases and SQL are advantageous.

Candidates should demonstrate initiative, self-motivation and the ability to resolve issues independently.  Information processed in the department is highly confidential and therefore candidates should also demonstrate integrity. Ideal candidates will possess clarity of thought, attention to detail, and effective communication, both in writing and verbally. Risk analysis produced by MRD is used to brief senior management and needs to be both timely and accurate. It is essential that candidates can demonstrate their diligence as well as strong quantitative and investigative skills.

Requirements

• College graduate, preferably with a degree in a quantitative discipline such as economics,  finance, sciences or engineering
• GPA of 3.5 or above
• Higher degrees or other qualifications related to any of the above areas are advantageous

Selection Process

Following a successful initial interview, you may be invited to meet with a team of Market Risk professionals.

How to Apply

Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html

Deadlines

Please apply online by October 15, 2009 in order to be considered.