Fixed Income Division - Associate​/Vice President, Agency MBS CMO​/Derivatives Trading

Company Profile

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.

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.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and a strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

The Fixed Income Division is comprised of Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manage risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets. The Commodities Division is a market leader across a broad range of commodities markets, with expertise in areas including client risk management, financing solutions and investor products Sales & Trading.

From the largest global institutions to innovative new hedge funds, investors come to Morgan Stanley for sales, trading, and market‑making services in almost every type of financial instrument including stocks, bonds, derivatives, foreign exchange, and commodities. Our professionals provide liquidity and content to clients around the world, actively assessing and managing risk, trading securities, and planning and executing transactions in fast‑changing markets.

As the needs of our clients become increasingly complex, we often develop customized solutions.

Morgan Stanley’s Securitized Products Group (SPG) contains several Trading Businesses (Agency MBS, residential mortgage loans, RMBS, CMBS, CLOs, and other ABS), a lending arm that focuses on traditional Commercial Real Estate as well as Warehouse (FID Secured Lending “FSL”), and a CUSIP financing business. This is a complex and growing portfolio of businesses within Morgan Stanley that serve a wide range of clients to execute on their business strategies.

The SPG Trading team is looking for an experienced Associate to VP to join the Collateralized Mortgage Obligation (CMO) / Agency Derivatives (IO/IIO) desk

• Price, hedge, evaluate, manage book, and engage with clients as an MBS CMO/derivatives trader and market maker
• Assess relative value across agency specified pool, CMO and derivatives market
• Formulate, express and execute trade ideas within rates, vol and mortgages, in products including but not limited to: treasury futures and futures options, swaps and swaptions, mortgage TBAs and TBA options
• Interact with diverse client base to provide liquidity as a market maker and build firm relationships
• Assist desk with PnL reporting, compiling market color, indications, and weekly commentary
• Maintain frequent dialogue with teams internally including but not limited to: IT, strats, sales, trading desks, research, operations, and finance

• Strong quantitative, analytical and interpersonal skills
• Proactive worker with the ability to work as part of a close-knit team as well as independently
• High level of initiative, motivation,…