Tuesday, November 11, 2008

Morgan Stanley: Junior Loan Trader


Description Position Category: Fixed Income Sales & Trading

Position Title: Markets Group - Junior Whole Loan Trader

Job Level: Associate

Location: USA - NY - Purchase

Education Required: Bachelors Degree

Position Description:
Morgan Stanley is seeking a junior whole loan mortgage trader to join our Global Wealth Management, Capital Markets Division. The trader will be responsible for working with a senior trader and the mortgage origination platform to establish and execute a loan origination strategy and for managing and trading a mortgage whole loan trading book.

Candidates for this position must have at least 3 years experience in whole loan trading or portfolio management and possess excellent modeling skills.

Responsibilities include:
1.Producing and publishing a daily mortgage rate sheet
2.Hedge mortgage pipeline risk using treasuries, swaps and pass-through securities
3.Generate daily risk and hedge reports for related mortgage trading positions
4.Mark position in MAC daily
5.Work with collateral analysis group on delivery of product to agencies and/or 3rd parties
6.Monitor product mix and loans originated to ensure pricing seems appropriate
7.Establish relationships with 3rd party buyers of our products including agencies
8.Reconcile all breaks with operations
9.Determine / Analyze any system breaks
10.Work with Credit Team to be sure that all proposed new products are properly priced and risk managed appropriately
11.Work with Controllers/Value Review on mark-to-market positions

Skills Required:
1.3-5 years experience in whole loan trading
2.Bachelor’s degree
3.Series 7 and 63
4.Knowledge of Excel, Intex dealmaker, Bloomberg, Thompson and other market pricing and valuation tools
5.Knowledge of Morgan Stanley risk and analytics systems a plus

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