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IED, Prime Brokerage / Delta One Swaps, Pricing & Financing Analyst, Analyst-Associate
Location: Non-Japan Asia-Hong Kong-Hong Kong-Hong Kong
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 747 offices in 42 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 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.
Morgan Stanley’s Prime Brokerage business provides global products and services to money managers who run some of the largest and most successful hedge funds. Morgan Stanley acts as a Prime Broker for asset managers / hedge funds to consolidate, finance, clear and report daily trade activity across multiple products. MS PB is the global leader in terms of market share, and a significant proportion of the business is made up of global clients who are serviced by the Asia PB and Equity Swaps desk.
Prime brokers have supported the hedge fund industry in a number of ways, namely:
• Offering cash financing, synthetic exposure, securities lending, and custodial services.
• Assisting with the hedge fund’s capital raising activities.
• Clearing and settling trades executed with the prime broker’s own broker-dealer or other executing brokers
• Providing technology which is available to support the hedge fund throughout the entire investment cycle – research, execution, risk management, settlement and clearance and advice on “best of breed” third party solutions.
• Assisting in day to day management of the fund via the specialist Client Service group
Overview of the Role
The Pricing/Financing/Analytics team works on the Core Prime Brokerage / Delta One Swap Desk. The team is responsible for:
• Collaborating with PB disciplines (Sales, CI, Client Service, and Risk) and Stock Loan in the evaluation, approval, and pricing of new business
• Driving the creation of Client and Business metrics for PB management across both cash prime brokerage and equity swaps
• Identifying trends in client revenue and recognizing commercial opportunities
• Interfacing with clients on pricing, funding, liquidity, swaps, and market related questions
• Partnering with other areas adjacent to PB including BRM, Treasury, and Risk with respect to the preparation and presentation of information to regulatory bodies
• Strategic business initiatives, focused notably on P&L initiatives, balance sheet optimization and regulatory requirements
The candidate will be exposed to all areas that the team focuses on and will assume responsibility for both day-to-day management of business functions and gain responsibility for a number of longer-term strategic projects. The role will involve daily contact with senior business managers globally. Responsibilities of the role include:
• Providing support to team members and management in the production of business and client metrics including:
o Development, and maintenance of ongoing reporting of revenues, balances, and profitability
o Ownership of key account metrics
• Preparing regular and ad hoc analyses for the team and management in advance of meetings internally and externally
• Coordinating with PB teams in the evaluation of client opportunities and client/book trends
• Working closely with Strats/IT to develop and implement solutions in line with business needs
• Liaising with FCG in the preparation of monthly business level analytics including product attribution and spread analysis
Qualifications and Skills Required
• Knowledge of Prime brokerage, hedge funds, the industry and common hedge fund strategies preferred
• Analytical mindset, good academic record, attention to detail and problem solving skills.
• Strong business acumen to be able to recognize and interpret commercial opportunities.
• Knowledge of a broad range of asset classes, preferably including some of the following: equities, fixed income, FX, listed and OTC derivatives (including cash-flows, valuations and margin treatment of listed futures and options), Government repos, asset swaps (credit, interest-rate and equity) and other equity-related securities.
• Good organizational and time management skills plus the ability to multi-task and work under pressure.
• Ability to quickly comprehend and filter complex information. This is often required within a short timeframe, as clients will generally look to you for input on a wide range of topics, some of which will be time-sensitive and may be confidential.
• Excellent communication skills, confidence and the ability to clearly articulate complex situations often to senior client contacts and/or internal senior management.
• Academic qualifications in Finance, Economics, Mathematics, Computer Science preferred