Sales & Trading - North America
An overview of this program’s objectives and how you can benefit We have opportunities for PhD/MFE graduates throughout the Sales & Trading division including Equity Derivatives, Securitized Products Group, Foreign Exchange, Interest Rates, Credit (including Credit Derivatives and Credit Products), Commodities, and Emerging Markets.
Using techniques such as stochastic calculus, the theory of differential equations, statistical optimization and implementation of numerical analysis, your role as full-time Quantitative Finance Associate in Sales & Trading could include: - Risk analysis of a trading desk's book of derivative trades
- Development and testing of trading strategies
- Structuring of new products
- Development and implementation of models for valuation and hedging of derivatives traded by Morgan Stanley
The Quantitative Finance Program in Sales & Trading
How the program works and the day-to-day experience you can expect After training, you will be assigned to a team under the direct guidance of experienced professionals who are among the best in their fields. They would typically give you as much responsibility as you can handle, in an environment that affords exciting opportunities to work with a wide variety of clients in different industries, helping them to make strategic decisions involving capital raising, research, or trading issues at the highest level.
Within the different business functions the following roles exist for Quantitative Finance Associates joining the program: Desk Strategists - are key participants, together with traders and sales people, in the revenue generating activities of our Sales and Trading Division. Desk Strategists sit on the trading desk, are the primary modelers for new products, and team with the traders in delivering innovative trade ideas using models to analyze risks and opportunities in trading books for complex derivatives. Responsibilities include creating models and strategies the desk will use to drive trading decisions, analyzing and managing the risk of the positions currently on the books, creating pricing and marking models and trader efficiency tools.
Quantitative Modelers - develop and implement the mathematical market models that are the foundation of the trading strategy, valuation and risk management models. Our quantitative modelers, utilizing large, and often incomplete and asynchronous financial time series data, perform empirical research on market dynamics. The firm relies upon the theoretical correctness and computational efficiency of the research and models for identifying revenue generating opportunities and for managing large risk positions.
Launching Your Career
The initial training that you receive on starting the program Training includes classroom-based, group, and one-on-one training sessions that familiarize you with the firm's data resources and analytical tools. Moreover, since you will be working alongside experienced professionals, you will benefit from on-the-job coaching as well. Training is not limited to the first weeks or months on the job but would be ongoing throughout your career at Morgan Stanley. We are committed to providing our people with the learning and development they need for success in this constantly changing business. The curriculum typically will cover: - Market knowledge training
- Product and technical training
- Professional development
Throughout the program, you would have significant exposure to management through information sessions and other organized events. You may also benefit from networking opportunities with peers and colleagues.
As part of your integration into Sales & Trading, you will be assigned a mentor who can help ease your transition to the corporate environment. The mentor provides career guidance, serves as a sounding board and helps connect you to the broader Morgan Stanley network.
Developing Your Career
What you can anticipate as you make progress and after completing the program Quantitative Finance Associates work across a range of product and sector desks. You can expect to take on significant responsibility as soon as you start. You may work directly with clients at a senior level, applying your analytical skills and subject-matter expertise in helping them to make strategic decisions involving capital raising, research, or trading issues.
Is Quantitative Finance Sales & Trading Right for You?
A checklist to help you decide if you have the skills and temperament for this area - You have an active interest in the financial markets and how they are influenced by external markets.
- Your analytical and quantitative skills enable you to rapidly assimilate and evaluate complex numerical information.
- You are insightful and creative in the way you test and interpret information.
- Your communication skills enable you to explain complex propositions in a simple and compelling manner.
- You are a team player who puts results ahead of individual recognition.
- You are able to create profitable trading opportunities for both Morgan Stanley and our clients.
Requirements - Personal and professional integrity
- A PhD/MFE with expertise in Mathematics, Financial Mathematics, Physics, Engineering,
- Quantitative Finance, or Computer Science
- Strong mathematical academic training
- Strong programming skills
- A deep interest in the financial markets
- The drive and desire to work in an intense team-oriented environment
How to Apply Applications can be submitted from September 1, 2009. They will be reviewed as they are received so we encourage candidates to apply early. Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html Deadlines We accept applications for the Quantitative Finance Associate program on an ongoing basis.
An overview of this program’s objectives and how you can benefit We have opportunities for PhD/MFE graduates throughout the Sales & Trading division including Equity Derivatives, Foreign Exchange, Interest Rates, Credit (including Credit Derivatives and Credit Products), Commodities, and Emerging Markets. Using techniques such as stochastic calculus, the theory of differential equations, statistical optimization and implementation of numerical analysis, your role as Quantitative Finance Summer Associate in Sales & Trading could include: - Risk analysis of a trading desk's book of derivative trades
- Development and testing of trading strategies
- Structuring of new products
- Development and implementation of models for valuation and hedging of derivatives traded by Morgan Stanley
The Quantitative Finance Internship Program in Sales & Trading
How the program works and the day-to-day experience you can expect
The intensive ten-week summer Quantitative Finance Internship Program is designed to help you explore opportunities in Sales & Trading. You would be assigned to a specific team where you would work closely with accomplished professionals on a series of substantive projects. You would also have the chance to learn about the activities of other teams throughout Sales & Trading.
Throughout the program, you would typically benefit from individual coaching and continuous feedback, enabling you to maximize your opportunities and make an informed decision about a long-term career with the firm.
Within the different business functions the following roles exist for Quantitative Finance Associates joining the program:
Desk Strategists - are key participants, together with traders and sales people, in the revenue generating activities of our Sales and Trading Division. Desk Strategists sit on the trading desk, are the primary modelers for new products, and team with the traders in delivering innovative trade ideas using models to analyze risks and opportunities in trading books for complex derivatives. Responsibilities include creating models and strategies the desk will use to drive trading decisions, analyzing and managing the risk of the positions currently on the books, creating pricing and marking models and trader efficiency tools.
Quantitative Modelers - develop and implement the mathematical market models that are the foundation of the trading strategy, valuation and risk management models. Our quantitative modelers, utilizing large, and often incomplete and asynchronous financial time series data, perform empirical research on market dynamics. The firm relies upon the theoretical correctness and computational efficiency of the research and models for identifying revenue generating opportunities and for managing large risk positions.
Launching Your Career
The initial training that you receive on starting the program The ten-week Sales & Trading Summer Quantitative Finance Program will provide you with a unique insight into life on a trading floor. The program features: - Market knowledge training
- Desk placement projects within equity & fixed income products
- Management presentations
- Workshops
- Networking events
- Regular review meetings
After initial training you will be staffed on at least two individual projects and one group project during the internship across both equity and fixed income products. Throughout the Internship Program, you would have significant exposure to management through information sessions and other organized events. You may also benefit from networking opportunities with peers and colleagues. As part of your integration into Sales & Trading, you will be assigned a mentor who can help ease your transition to the corporate environment. The mentor provides career guidance, serves as a sounding board, and helps connect you to the broader Morgan Stanley network. Successful Summer PhD Associates may receive a full-time offer of a role as an Associate at the end of the summer.
Is Quantitative Finance Sales & Trading Right for You?
A checklist to help you decide if you have the skills and temperament for this area - You have an active interest in the financial markets and how they are influenced by external markets.
- Your analytical and quantitative skills enable you to rapidly assimilate and evaluate complex numerical information.
- You are insightful and creative in the way you test and interpret information.
- Your communication skills enable you to explain complex propositions in a simple and compelling manner.
- You are a team player who puts results ahead of individual recognition.
- You are able to create profitable trading opportunities for both Morgan Stanley and our clients.
Requirements - Personal and professional integrity
- A PhD/MFE with expertise in Mathematics, Financial Mathematics, Physics, Engineering,
- Quantitative Finance, or Computer Science
- Strong mathematical academic training
- Strong programming skills
- A deep interest in the financial markets
- The drive and desire to work in an intense team-oriented environment
Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html
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