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Division: Risk Management
Role: Credit Risk — Country Risk
Level: Associate
Location: London


Firm Risk Management
Firm Risk Management (FRM) supports Morgan Stanley to achieve its business goals by partnering with business units across the Firm to realize efficient risk-adjusted returns, acting as a strategic advisor to the Board and protecting the Firm from exposure to losses as a result of credit, market, liquidity, operational, model and other risks.

Background on the Position
The role will reside within Firm Risk Management's Credit Risk Management (CRM) Department. Credit Risk Management (CRM) determines risk appetite, approves and manages credit and counterparty risks on an industry, client, geography and transaction basis. CRM team assigns Internal Credit Ratings to our client base; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions.


Primary Responsibilities

• Sovereign/country risk analysis: Analysing EMEA sovereigns, both emerging and developed, in order to assign internal ratings as well as assessing broader country risk for the purpose of setting country limits. The individual will also collaborate with colleagues in other regions to ensure excellence and consistency in the ratings approach.
• Limit setting/monitoring: Setting internal country limits for countries across the EMEA region and monitoring limits for compliance. Contributing to the team's continuous development and deepening of the overall country risk management framework, including via liaising with colleagues in Credit (within which Country Risk sits) and other areas of Firm Risk Management, principally Market and Liquidity Risk.
• Trade approvals: collaborating with colleagues on a trade by trade basis to determine risk appetite and potential risk mitigants for sovereign counterparts as well as for transactions in countries with constrained risk appetite.
• Communicating country risk analysis: Analysing complex country risk developments and articulating views in a concise and succinct way within Risk and beyond, often under time pressure.

FRM is committed to creating and providing opportunities that enable our workforce to reflect diverse backgrounds and views.

Experience

• Experience in, and understanding of, macroeconomic and political analysis and profound interest in subject matter
• Ability to anticipate events and derive significance for real economy and markets
• The ability to effectively communicate with a wide range of stakeholders, both written and verbally
• Ability to work independently in a self-directed way in a collaborative, team-oriented environment Experience of limit setting, trade approvals and financial products would be a benefit