Associate - Credit Risk (Community Reinvestment Act/Affordable Housing Lending & Underwriting)
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.
The talent and passion of our people is critical to our continued success as a firm. Together, we share five core values rooted in integrity, excellence and strong team ethic:
1 .Putting Clients First
2. Doing the Right Thing
3. Leading with Exceptional Ideas
4. Giving Back
5. Committing to Diversity and Inclusion
Morgan Stanley is committed to helping its employees build meaningful careers and we strive to be a place for people to learn, achieve and grow.
Firm Risk Management
Firm Risk Management (FRM) enables Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, operational, model and other risks.
Our mission is to serve as the follow roles:
-Independent agent to set consistent principles and disciplines for risk management
-Strategic advisor to Firm management for setting risk appetite and allocating capital
-Industry leader to influence and meet regulatory standards
-You will collaborate with colleagues across FRM and the Firm to protect the Firm's capital base and franchise, advise businesses and clients on risk mitigating strategies, develop tools and methodologies to analyze and monitor risk, contribute to key regulatory initiatives and report on risk exposures and metrics to enable informed and strategic decision-making. Through thoughtful analysis and clear communication we are best able to bring our ideas to the table and improve the Firm.
Firm Risk Management values diversity and is committed to providing a supportive and inclusive workplace for all employees.
Firm Risk Management's unique franchise promotes:
-Flat, flexible and integrated global organization
-Collaboration and teamwork
-Credible, independent decision-making
-Creative and practical solutions
-Meritocratic and diverse culture
Morgan Stanley Credit Risk Management (CRM)
Credit Risk Management (CRM) evaluates credit risk transactions and approves, rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer, Chief Credit Officer and senior management. CRM also interacts with the business unit to ensure that credit risk assessments are factored into business decisions.
Background on the Position
Credit Risk Management is looking to hire an Associate to work with the manager of the Community Reinvestment Act (CRA) Credit coverage team. The CRA Credit team has coverage of the following products within the Community Development Finance (CDF) business unit: Affordable Housing loans, often associated with Low Income Housing Tax Credit (LIHTC) equity investments, Small Business Association (SBA) loans, Community Development Financial Institution (CDFI) loans, and Small Business Investment Corporation (SBIC) loans and investments.
The primary responsibilities of the role include:
-Conduct fundamental credit research and portfolio management for the CRA business unit
-Work with the CDF Unit to understand their business plan and develop a balanced risk approach to approving new transactions and monitoring existing loans and investments
-Collaborate with business unit on structuring and documenting proposed transactions as needed
-Assess, underwrite and document new loan and investment requests
-Review and make recommendations regarding modification and amendment requests
-Establish credit ratings for CRA loans
-Monitor the CRA limits and credit standards
-Conduct portfolio management and oversight of CRA loans
-Assist in maintaining the CRA credit policy and procedures
-Provide requested information and explain to Internal Audit and regulators, as needed
-Escalate to manager any loans or investments that warrant further discussion
-Present to Credit Senior Management for discussion and approval of large transactions
-Work with other credit risk teams to handle cross product analysis Qualifications:
-Interest in community development activity, small business, social impact, and/or affordable housing
-Some experience with public sector financing programs that support the CRA lending and investment products and understanding of the benefits of the public-private partnership
-Solid credit and analytical skills
-Ability to review and understand financial statements and calculate cash flow
-Strong written and verbal communication skills
-Ability to work under time pressure and manage multiple projects with limited supervision
-Able to multitask and adapt to shifting priorities as demanded
-Microsoft Excel and PowerPoint skills
-Bachelor's degree with a minimum of 3 - 4 years of work experience in financial/credit analysis
-Solid presentation and communication skills with excellent attention to detail
-Ability to work in a consensus building, team oriented environment
-Possess a positive and self-motivated mindset