IED, Prime Brokerage / Delta One Swaps, Pricing & Financing Analyst, Analyst-Associate
October 12, 2018
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Morgan Stanley's Prime Brokerage business provides global products and services to money managers who run some of the largest and most successful hedge funds. Morgan Stanley acts as a Prime Broker for asset managers / hedge funds to consolidate, finance, clear and report daily trade activity across multiple products. MS PB is the global leader in terms of market share, and a significant proportion of the business is made up of global clients who are serviced by the Asia PB and Equity Swaps desk.
Prime brokers have supported the hedge fund industry in a number of ways, namely:
Offering cash financing, synthetic exposure, securities lending, and custodial services.
Assisting with the hedge fund's capital raising activities.
Clearing and settling trades executed with the prime broker's own broker-dealer or other executing brokers
Providing technology which is available to support the hedge fund throughout the entire investment cycle – research, execution, risk management, settlement and clearance and advice on "best of breed" third party solutions.
Assisting in day to day management of the fund via the specialist Client Service group
Overview of the Role
The Pricing/Financing/Analytics team works on the Core Prime Brokerage / Delta One Swap Desk. The team is responsible for:
Collaborating with PB disciplines (Sales, CI, Client Service, and Risk) and Stock Loan in the evaluation, approval, and pricing of new business
Driving the creation of Client and Business metrics for PB management across both cash prime brokerage and equity swaps
Identifying trends in client revenue and recognizing commercial opportunities
Interfacing with clients on pricing, funding, liquidity, swaps, and market related questions
Partnering with other areas adjacent to PB including BRM, Treasury, and Risk with respect to the preparation and presentation of information to regulatory bodies
Strategic business initiatives, focused notably on P&L initiatives, balance sheet optimization and regulatory requirements
The candidate will be exposed to all areas that the team focuses on and will assume responsibility for both day-to-day management of business functions and gain responsibility for a number of longer-term strategic projects. The role will involve daily contact with senior business managers globally. Responsibilities of the role include:
Providing support to team members and management in the production of business and client metrics including: o Development, and maintenance of ongoing reporting of revenues, balances, and profitability o Ownership of key account metrics
Preparing regular and ad hoc analyses for the team and management in advance of meetings internally and externally
Coordinating with PB teams in the evaluation of client opportunities and client/book trends
Working closely with Strats/IT to develop and implement solutions in line with business needs
Liaising with FCG in the preparation of monthly business level analytics including product attribution and spread analysis
Qualifications and Skills Required
Knowledge of Prime brokerage, hedge funds, the industry and common hedge fund strategies preferred
Analytical mindset, good academic record, attention to detail and problem solving skills.
Strong business acumen to be able to recognize and interpret commercial opportunities.
Knowledge of a broad range of asset classes, preferably including some of the following: equities, fixed income, FX, listed and OTC derivatives (including cash-flows, valuations and margin treatment of listed futures and options), Government repos, asset swaps (credit, interest-rate and equity) and other equity-related securities.
Good organizational and time management skills plus the ability to multi-task and work under pressure.
Ability to quickly comprehend and filter complex information. This is often required within a short timeframe, as clients will generally look to you for input on a wide range of topics, some of which will be time-sensitive and may be confidential.
Excellent communication skills, confidence and the ability to clearly articulate complex situations often to senior client contacts and/or internal senior management.
Academic qualifications in Finance, Economics, Mathematics, Computer Science preferred
Internal Number: 4676126
About Morgan Stanley
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