Firm Risk Management Summer Analyst Programme

Placement and duration

The Firm Risk Management Division at Morgan Stanley seeks to identify, measure, monitor and control risks, and independently assess the effectiveness and consistency of risk management processes carried out by Risk Owners and across divisional risk stripes.

This is a 10-week Summer Internship beginning in June 2024 for penultimate year students. As part of the internship, you will gain in-depth exposure to a specific Non-Quantitative Risk Management Stripe such as Credit Risk, Liquidity Risk, Market Risk or Risk COO.

Training Programme

The internship begins with a Firmwide induction with peers from other divisions. This is followed by two days of classroom-based training covering overviews of connecting divisions, product and industry knowledge, personal effectiveness and technical training, as well as a team-building and networking activities.

You will then have a 3-day comprehensive hands-on introduction to Risk Management. In role, interns will receive considerable on-the-job training and opportunities to take on meaningful and challenging projects with real day-to-day impact. In addition to the formal experience, interns will be paired with a buddy, engage in a speaker series and work-shadowing opportunities.

Role and Responsibilities

You will be placed in one of the below Risk stripes and will work on projects, provide insights, and develop creative solutions that impact the department and Firm.

• Credit Risk Management (“CRM”) determines risk appetite, approves, and manages credit and counterparty risks on an industry, client, geography, and transaction basis. The 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

• Liquidity Risk Management Department (“LRD”) is responsible for the oversight of the Firm’s ability to survive adverse, idiosyncratic, and market-related liquidity shocks. LRD’s mandate includes liquidity risk assessment and identification, limit setting and enforcement, business strategy challenge, liquidity reserve model methodology oversight, and communication of liquidity risks to senior management and the Board

• Market Risk Management Division (“MRD”) is responsible for the independent identification, analysis, reporting and escalation of all market risk exposures arising from EMEA business activities, acting independently of business management, and providing an effective challenge process

• Risk COO: The Risk Chief Operating Office (“Risk COO”) department comprises of several teams that partner across risk areas to deliver strategic and regulatory-driven initiatives. Teams include Risk Capital, Stress Testing & Portfolio Risk, Risk Governance, Cross-Risk Projects, Risk COO and Risk Reporting teams

Qualifications and Skills

• You are an undergraduate student in your penultimate year of study and are on track to graduate in 2025 with at least a 2.1 honours degree or equivalent

• You are intellectually curious about risk management, financial products, markets, and regulations

• Show an ability to analyse and synthesize a variety of data to produce well-designed and meaningful summaries and reports

• Familiarity with Microsoft Excel, PowerPoint and Word and any programming/coding language

• Strong attention to detail and ability to provide information in usable formats

Application Process and Deadline

In order to be considered, candidates must apply by Sunday 26th November 2023 at 23:55 BST

Please note, we recruit on a rolling basis so completing your application as soon as possible is encouraged

To be successful to join the programme you will:

• Submit an online application with cover letter by the above deadline

• Complete the full recruitment process which includes online testing, 1st stage telephone interview and an assessment centre which will take place in person in our London offices