About the position
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. The Fixed Income Division is comprised of Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manage risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets. Morgan Stanley aligns its municipal investment banking, underwriting, sales, trading, lending, and M&A advisory in one integrated organizational group under the umbrella of the Municipal Securities Division. Municipal Securities is looking for an Associate, VP, or ED level candidate to expand its credit resources in response to growing business needs, to better serve our clients, and continue our best-in-class execution. In this role you will have high visibility externally and internally and will play an integral role in all key business functions of the division.
Responsibilities
- New issue investor marketing including but not limited to working with banking and syndicate to structure and/or opine on credit fundamentals, security packages, and relative value/credit comparables.
- Leading the new issue marketing process by working collaboratively with syndicate, sales, and banking to author or review credit sales memos.
- Proactively contacting investors to ensure review of new issues, explain deal parameters, and facilitate investor diligence.
- Manage roadshow engagement by hosting and arranging investor meetings with issuers and/or banking.
- Participating in new business proposals, pitches, and/or meetings presenting the latest investor analytics, credit/market/sector trends.
- Represent the Firm at relevant industry events.
- Support secondary market idea generation and investor dialogue through credit analysis and analytics and regular interaction with buy side credit analysts, traders, and portfolio managers.
- Portfolio management of existing and prospective trading inventory, client financing positions, and public side investment positions requiring regular reporting (MTM, credit monitoring, risk limits) to trading and business risk management.
- Relationship building and management with buy side credit analysts and internal stakeholders across the business and risk functions (market, credit, trading).
Requirements
- 5+ years of municipal credit experience with ability to be a generalist across the credit spectrum.
- Experience in healthcare, higher education, charter schools, project finance, affordable housing, land development, structured credit highly preferred.
- Candidates with experience in buyside investing, sell-side desk research, insurance, or lending function highly preferred.
- Proactive and dynamic attitude coupled with excellent communication and presentation as the role requires interaction and relationship building with a wide range of functions across banking, sales, trading, syndicate, issuers, investors, and internal stakeholders.
- Ability to multitask, manage, and prioritize different mandates across the primary responsibilities described above.
- Comfort with fast-paced, trading floor environment.
- General knowledge of the municipal market and interest in growing as a credit professional.
Benefits
- Expected base pay rates for the role will be between $150,000 and $200,000 for Associate, $225,000 and $250,000 per year for Vice President, and between $250,000 and $300,000 per year for Executive Director at the commencement of employment.
- Total compensation package may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
- Comprehensive employee benefits and perks in the industry.
- Commitment to diversity and inclusion.
