Counterparty Credit Underwriting - xVA, Fixed Income - VP/ED

Morgan Stanley • New York, NY

1d • $160,000 - $250,000

About The Position

Morgan Stanley is seeking an Executive Director or Vice President in New York to work on the counterparty risk underwriting within its XVA desk with a focus on uncollateralized derivatives globally. The XVA desk owns and manages the credit counterparty risk on derivative transactions in coordination with the second line departments (credit teams, legal, etc.). Commodity derivatives often involve significant exposure to counterparties for the bank: understanding and managing this underlying risk is essential to protect against potential losses from counterparty default.
This is a front office role in the Fixed Income Division. Reporting will be locally and functionally to the team in NYC.

Requirements

• Bachelor's degree in Finance, Economics, Engineering or a related field; advanced degree (e.g., Master's, MBA) preferred
• Extensive experience (5+ years) in project finance, structuring, Fixed Income derivatives, counterparty risk management, credit underwriting, or related roles within a top-tier investment bank or financial institution
• Understanding of project finance structures, commodity and credit markets, derivatives products, and risk management practices in general
• Analytical mindset with strong problem-solving skills and attention to detail
• Effective communication and presentation skills, with the ability to articulate complex concepts and recommendations to senior management and stakeholders
• Ability to thrive in a collaborative, cross-functional environment and drive results through influence and effective stakeholder management

Nice To Haves

• A background in commodities or project finance is a plus

Responsibilities

• Assess, underwrite and “own” the counterparty credit risk associated with Fixed Income derivative transactions
• Evaluate hedging transactions based on the counterparties' creditworthiness, financial strength (including through financial modelling and scenario analysis) and risk mitigants
• Incorporate the directionality of underlying derivative exposure and consider idiosyncratic/ legal/political considerations and the unique characteristics of the structures
• Leverage your experience with a wide range of transaction types and collaborate closely with the sales, structuring, credit and legal teams to assess credit risk implications and negotiate appropriate mitigants
• Help develop and maintain guidelines and policies specific to underwriting Fixed Income derivatives
• Monitor counterparty credit risk exposures within the Fixed Income hedging portfolio. Identify emerging risks/themes and discuss potential risk mitigation strategies
• Build and maintain strong relationships with internal stakeholders including the sales & trading desks, credit management teams, legal, compliance, and senior management, fostering collaboration and effective communication

What This Job Offers

• Job Type: Full-time
• Career Level: Director