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E*TRADE from Morgan Stanley · 1 month ago

FID, First-Line Credit Analyst - Derivatives Trading (Associate / Vice President)

New York, New York, United States of America

Full-time

Onsite

Mid Level

$160K/yr - $250K/yr

4+ years exp

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The role involves evaluating counterparty and transactional credit risks associated with derivatives trading, developing credit analyses, and presenting recommendations to senior stakeholders.

BankingFinanceFinancial Services

Responsibilities

Evaluate new counterparty risk associated with derivative transactions across corporate counterparties, PE funds, and securitization structures

Develop clear, balanced, and well-supported written credit analyses assessing counterparty fundamentals, transaction structure, collateral/CSAs, exposure dynamics, stress outcomes, and key risks

Present and defend transaction recommendations to senior leaders within the business and Firm Risk Management

Participate in transaction discussions with trading, structuring, capital markets origination and sales to ensure a shared view of credit appetite, structural mitigants, and commercial considerations

Act as a first-line partner to the trading desk—ensuring efficient information flow, early identification of credit issues, and collaborative problem-solving

Build strong working relationships with second-line Credit Risk Management, Legal, Trading, and Operations to support smooth execution of transactions

Support senior team members in due diligence discussions with counterparties for new relationships or complex structures

Maintain active oversight of assigned counterparty portfolio, including review of financial performance, industry trends, limit usage, and exposure changes

Identify emerging risks proactively and escalate as appropriate

Assist in preparing periodic portfolio reports summarizing ratings changes, excesses, and market impacts for senior management

Prepare concise yet thorough credit memoranda, exposure summaries, and transaction approvals for internal committees

Contribute to ad hoc presentations for business leadership, Firm committees, and regulatory inquiries

Review trade requests for exposure profiles, tenor, documentation considerations (ISDA/CSA), and structural elements

Qualification

Credit risk managementCredit analysisDerivatives tradingAnalytical skillsStakeholder engagementTransaction structuringInterpersonal skillsCommunication skillsIndependent work

Required

Bachelor's Degree required

4–8 years of relevant experience in one or more of the following: Credit rating agency (corporates, financial institutions, or structured products), Leverage / Acquisition Finance team, Secured lending team, Bank credit risk management team, Structuring or credit-intensive role within a bank's trading or capital markets division

Strong analytical ability and comfort working with complex information under time pressure

Demonstrated ability to develop coherent credit views and communicate them clearly—both in writing and in discussions with senior stakeholders

Familiarity with traded products, ISDAs/CSAs, and exposure concepts preferred

Ability to work independently in a fast-paced trading-floor environment while managing multiple deliverables

Strong interpersonal skills and a collaborative mindset to partner effectively with front-office teams