The Credit Risk Management department (CRM) provides independent oversight of the Firm’s credit risks, and acts as the guardian of the Firm’s capital. CRM evaluates credit risk transactions and approves, rejects or modifies them, considers the availability and appropriateness of arrangements for reducing risk (through netting, hedging, loan participations) or risk mitigation (guarantees, collateral, financial covenants). The department also assigns Internal Credit Ratings, establishes and manages credit risk limits in accordance with the risk tolerance established by the Board, and monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and to senior management. CRM also interacts with Business Units to ensure that credit risk assessments are factored into business decisions.
Analysts perform a critical role in CRM, employing the skills fundamental to credit research (critical reading, writing, reasoning and communicating) to assess the creditworthiness of companies in various industries. Analysts rate counterparty/borrower capacity to perform on obligations to Morgan Stanley and identify factors that could hinder payment ability and lead to default. In addition, analysts will develop the ability to quantify the risk in lending and derivative transactions and contribute to developing risk mitigating and monitoring tools.
The position is entry level, intended to provide analysts with a platform to develop the skills and professionalism required to be considered for promotion to Associate after approximately three years. Analysts have elected other career paths, including graduate school, joining different departments within Morgan Stanley and pursuing career options outside of the Firm and/or finance.
- Author credit memos and present views to CRM senior professionals for approval
- Perform detailed quantitative and qualitative credit analyses of Morgan Stanley’s lending and traded products counterparties
- Conduct company specific and industry level research, identify key factors impacting a company’s credit quality, prepare written summary of findings and recommendations, defend analysis to senior management and at Credit Committees
- Assist in the credit approval process by analyzing the risk in various loan or complex derivative transactions
- Monitor, manage and report exposures at a counterpart, product and portfolio level
- Strong accounting/finance education and skills as well as basic knowledge of loan and capital markets products
- Superior reading comprehension, written, and verbal communication skills;
- Ability to identify, analyze, condense, and articulate complicated ideas and findings clearly and succinctly
- Advanced Microsoft Office skills including WORD and EXCEL applications
- Fluency in English