Institutional Equity Division - Associate, ETF Quant Strategist (New York)

Company Overview:

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 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.

Department Profile

From global institutions to hedge funds, investors come to Morgan Stanley for sales, trading, and market-making services in almost every type of financial instrument in all the world’s financial markets. Morgan Stanley professionals use our network and technology to provide liquidity and sophisticated analysis, to manage risk and execute reliably in the fast-changing markets.

Morgan Stanley’s Institutional Equity Division (IED) is a world leader in the origination, distribution and trading of equity, equity-linked and equity-derivative securities. Our broad and deep client relationships, market-leading platform and intellectual insights enable us to be a world-class service provider to our clients for their financing, market access and portfolio management needs.

Global Markets Group is the offshoring arm of Morgan Stanley’s Sales & Trading businesses in India. It covers functions across IED ranging from those associated with sales, trading, analytics, strats to risk management.

Primary Responsibilities

Morgan Stanley's Institutional Equity Division is looking for a junior strategist/quantitative analyst for its ETF market making strat team. Strategists are key participants, together with traders and salespeople, in the revenue-generating activities of our Sales & Trading Division. Strategists are the primary quant modelers for new products, and team with the traders to deliver innovative ideas using models to analyse risks and opportunities in the complex ETF market.

ETF market making strats are responsible for implementing and supporting both the data and ETF pricing models used in ETF trading. They also look after systematic market making processes, maintaining and conducting research on ways to improve various aspects of managing the systematic market making book, including but not limited to cost models, RFQ charging models, portfolio optimization, etc. They are also heavily involved in the idea generation, research, and backtest of trading strategies in the space of ETF and other macro products.

• Develop clean, well‑designed, and reusable code to backtest trading strategies

• Build tools to enhance the management of systematic market making book

• Generate visualization of research and backtest results to support real-time decision making of the ETF trading desk

• Work on sophisticated models to help traders accurately assess ETF risk and values

• Collaborate closely with the ETF trading desk to support daily data and analytics needs

What you’ll bring to the role:

• An advanced degree in a quantitative subject such as Engineering, Applied Mathematics, Physics, Software Engineering is mandatory

• Strong quantitative skills; knowledge of ETF/macro products and financing rate is a plus

• Proficiency in probability, statistics, linear regression and other core modeling methods. Familiarity with machine learning models and convex optimization is a strong plus

• Strong programming skills in an object oriented language (Java, Python, or C++)

• Drive and the ability to thrive in a fast‑paced, team‑oriented environment

• Effective written and verbal communication skills in English

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

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Expected base pay rates for the role will be between $150,000 - $200,000per year for Associate at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

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