Counterparty Credit Underwriting - xVA, Fixed Income - VP/ED

Executive Director Or Vice President - XVA DeskMorgan Stanley is seeking an Executive Director or Vice President in New York to work on the counterparty risk underwriting within its XVA desk with a focus on uncollateralized derivatives globally. The XVA desk owns and manages the credit counterparty risk on derivative transactions in coordination with the second line departments (credit teams, legal, etc.). Commodity derivatives often involve significant exposure to counterparties for the bank: understanding and managing this underlying risk is essential to protect against potential losses from counterparty default.This is a front office role in the Fixed Income Division. Reporting will be locally and functionally to the team in NYC.Key Responsibilities:Assess, underwrite and "own" the counterparty credit risk associated with Fixed Income derivative transactionsEvaluate hedging transactions based on the counterparties' creditworthiness, financial strength (including through financial modelling and scenario analysis) and risk mitigantsIncorporate the directionality of underlying derivative exposure and consider idiosyncratic/ legal/political considerations and the unique characteristics of the structuresLeverage your experience with a wide range of transaction types and collaborate closely with the sales, structuring, credit and legal teams to assess credit risk implications and negotiate appropriate mitigantsUnderwriting GuidelinesHelp develop and maintain guidelines and policies specific to underwriting Fixed Income derivativesPortfolio ManagementMonitor counterparty credit risk exposures within the Fixed Income hedging portfolio. Identify emerging risks/themes and discuss potential risk mitigation strategiesStakeholder ManagementBuild and maintain strong relationships with internal stakeholders including the sales & trading desks, credit management teams, legal, compliance, and senior management, fostering collaboration and effective communicationQualifications:Bachelor's degree in Finance, Economics, Engineering or a related field; advanced degree (e.g., Master's, MBA) preferredExtensive experience (5+ years) in project finance, structuring, Fixed Income derivatives, counterparty risk management, credit underwriting, or related roles within a top-tier investment bank or financial institutionA background in commodities or project finance is a plusUnderstanding of project finance structures, commodity and credit markets, derivatives products, and risk management practices in generalAnalytical mindset with strong problem-solving skills and attention to detailEffective communication and presentation skills, with the ability to articulate complex concepts and recommendations to senior management and stakeholdersAbility to thrive in a collaborative, cross-functional environment and drive results through influence and effective stakeholder managementExpected base pay rates for the role will be between $160,000 and $250,000 per year at the commencement of employment for Vice President, and between $225,000 and $300,000 per year at the commencement of employment for Executive Director. 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.