Associate - Credit Risk Portfolio Manager (Hedge Funds, Mutual Funds, & Private Equity Funds)
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
• Organizational influence
• Creative and practical solutions
• Meritocratic and diverse culture Credit Risk
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 and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions. Position Description
Credit Risk Management (CRM) is independent from, but closely aligned with, the business units it serves. CRM is seeking an Associate to join the Financial Institutions Credit team supporting the Capital Call Subscription Finance (CCSF) and Global Capital Markets (GCM) businesses. The open position is based in New York City, NY. Position Summary
• Responsible for the second-line risk management of CCSF facilities, which includes active participation in the underwriting process as well as recommending transactions for approval to senior credit officers. Underwriting process includes credit analysis, financial statement analysis, borrowing base analysis, legal doc analysis, facility structure analysis, etc.
• Conducting due diligence on new private equity GCM clients, including recommending appropriate collateral and covenant terms to senior credit professionals, as well as communicating trading terms and risk appetite to the Business Unit.
• Continuous monitoring of financial condition and performance of borrowers & counterparties within coverage responsibilities, including regularly reviewing covenant compliance, loan modifier, collateral threshold tracking, limits, and monitoring additional termination events.
• Assist in conducting due diligence on modifications, renewals, and annual reviews for existing obligors.
• Make approval or decline recommendations for loan amendments to credit approvers. Articulate recommendation in a clear, concise and informed manner.
• Accurately and efficiently review legal documents including LPAs, PPMs, organization documents, loan agreements, amendments and waivers, master agreements and credit support documents. As needed, communicate with internal and external legal counsel.
• In conjunction with the Business Unit, monitor private equity markets, keep abreast of major developments, changes in financial condition and identification of potential macro and micro issues related to individual borrowers, investors, the total CCSF portfolio and private equity industry.
• Provide guidance on procedures and make recommendations where appropriate.
• Participate in ad-hoc projects. Qualifications: Experience
• Bachelor's Degree required. Master's Degree or a CFA Charterholder is a plus.
• Minimum 3-5 years of lending and credit analysis experience within a commercial or investment bank. Skills
• Detail oriented with exceptional analytical skills.
• Comfort with capital call subscription facilities, trading terms negotiation, and/or private equity a plus.
• Significant accounting and finance knowledge.
• Proficiency with MS Excel. Advanced Excel modeling a plus.
• Possess excellent oral and written communication skills and presentation skills.
• Possess strong problem identification and solution techniques.
• Ability to meet deadlines and manage expectations.
• Strong ability to multi-task.
• Good collaboration skills in a team-oriented environment.