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Division: Firm Risk Management
Role: Credit Risk Management - Securitized Products Group (SPG)
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 Department. Credit Risk Management (CRM) evaluates credit risk transactions and approves rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; 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.

This is a multi-faceted role responsible for coverage of FID Secured Lending (FSL) transactions comprising of loan on loans secured by a variety of asset classes namely commercial real estate, residential mortgages, non-performing loans, middle market loans. The principal responsibilities include evaluation of new transactions and managing a portfolio of existing loans including annual and quarterly reviews.

Primary Responsibilities

• Assess new transactions, which includes an independent assessment and recommendation on the credit quality of proposed transactions, including their rating and alignment to the Firm's credit appetite
• Collaborate with origination teams on structuring and documentation for proposed transactions
• Prepare materials for Credit Senior management and the Firm's Credit Committee for discussion and approval of transactions
• Monitor existing portfolio of transactions, including periodic reporting of risk profiles, trends, industry developments, concentrations and conducting downside analysis
• Prepare timely and insightful annual and quarterly reviews, including the assessment of performance against underwritten base case projections and key credit metrics
• Review of due diligence and involvement in due diligence sessions including asset site visits and review of appraisals/valuations
• Review and verification of compliance certificates, debt covenants, and financial accounts and ensure adherence to credit and other relevant internal policies and practices

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

Experience

• Undergraduate degree or equivalent
• Experience in Warehouse lending including loans on residential mortgages, non-performing loans, corporate loans or commercial real estate lending
• Strong analytical and modelling skills, particularly with Excel
• The ability to effectively communicate with a wide range of stakeholders, both written and verbally
• An interest in working in a fast-paced environment, often balancing multiple high priority deliverables
• Ability to work independently in a self-directed way in a collaborative, team-oriented environment
• Background in credit risk management in securitized product or structured lending or corporate lending, or rating agency experience in securitization (preferred)