Market Risk, Algorithmic Trading Risk Manager - Vice President
December 25, 2017
London, United Kingdom
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.
The EMEA Risk Management Division is responsible for the independent identification, analysis, reporting and escalation of all market, credit and operational risk exposures arising from UK Group business activities, acting independently of business management and providing an effective challenge process.
As part of the EMEA Risk Management Division, the Market Risk Department identifies, measures, monitors, advises, challenges and controls market risks generated by the UK Group market-making and banking activities, acting independently of business management and providing an effective challenge process. The Market Risk Department comprises of various functions including Risk Managers, Stress Testing, Legal Entity Portfolio, Projects and Middle Office (data management).
Morgan Stanley is seeking a professional with experience in a multi-disciplined risk management function to serve as a Vice President in the Market Risk Department in London. The role will cover algorithmic trading across all asset classes and will be reporting directly to the Head of Market Risk eTrading. We seek candidates with a strong desire to learn and the ability to work well as both an individual and as a member of the larger regional and global team.
Core Responsibilities Include:
Review and analysis of algorithms, including controls and testing methods, as part of 2nd Line of Defense oversight of algorithmic validation.
Work with Model Risk Management department certifying algorithms by ensuring controls, performance and testing meets required benchmarks.
Design, development and maintenance of any application and reporting tools that are necessary to evidence the governance of algorithmic validation
Implementation of the governance and controls policy for MRD including assisting in the development of new controls where appropriate.
Review the risks associated with the trade flow through the multi-layered Trade Plant including manual and automated order generation, algorithm and router performance and conduct real-time market risk analysis using tools such as portfolio Greeks, stress testing, liquidity analysis, and Basel capital measures such as VaR, Stressed VaR, IRC, and CRM.
Oversight of trading limits and controls to ensure the business is taking risk consistent with the Firm's strategy (including review of intraday limit framework and limit utilizations).
Work directly with a diverse set of stakeholders including: Sales and Trading Business Units, Quantitative Strategists, Business Unit Risk Management, Compliance, Technology and Operations.
Coordinate as necessary with other functional groups including front office quantitative strategists, business unit risk management, information technology, regulatory and capital groups and maintain active dialogue with trading desks, risk management colleagues, and other support groups regarding trading and hedging strategies, risk representation, and limit compliance.
Communicate key risks to senior management on a regular basis, including creation of presentations articulating key risks. Escalate emerging or developing risks as the technological landscape evolves.
Skills required (essential)
Direct exposure to electronic trading (Trading Systems Support, Technology, QA, Operations, etc.)
Experience with electronic trading technologies and concepts as well as experience in algorithm development, including FIX messaging, market micro-structure, regulatory rules, and market data.
Experience with Software Development Lifecyle (SDLC), testing and QA very desirable.
Strong knowledge of financial products is essential. Business analysis, program/project management, involvement in governance strongly preferred.
Proficiency with a variety of IT applications as well as a good understanding of programming is advantageous.
Knowledge of mathematical finance and statistical methods.
An excellent academic background, including an advanced degree in a quantitative discipline, such as economics, finance, sciences or engineering. Additional qualifications, such as an FRM, would also be looked upon favourably.
Proactive with the ability to work as both part of a close-knit team and independently.
Strong analytical background.
Excellent communication skills for written, graphical and verbal presentation.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.*LI-CL1