City: London
Education Level: Bachelor’s Degree
Business Unit: Institutional Equity Sales and Trading
The 12-month Sales & Trading Industrial Placement Internship Program is aimed at undergraduates who are completing a four-year degree with a year out in industry as a requirement for their degree. The one-year internship, which is based in London and begins in June, offers you the opportunity to learn about a variety of product areas, while providing a clear understanding of how Sales & Trading operates as a whole. Following an initial period of training and induction, you will be assigned to a particular team where you will spend the remainder of your placement. Interns are treated as full-time members of the team and work alongside experienced professionals at all levels.
Training Program
All new Industrial Placement Interns participate in an orientation program covering the Firm’s businesses, the transition from an academic setting to a corporate environment and the chance to establish a network throughout the Firm globally. Interns then attend divisional training where they learn the core skills required to be successful on the job. The curriculum focuses on the Sales & Trading business and the various products, processes and systems required to be successful in the role. In addition, all Interns learn and network with peers, mentors and managers through group projects and other organised events.
Responsibilities
Opportunities exist within the following teams:
Client Coverage: This team acts as the primary point of contact for our Prime Brokerage hedge fund clients. As well as overseeing the account activity across multiple asset classes and mitigating risk, account managers in client coverage really get to know their clients’ businesses so they can build long-term relationships and ensure the Firm is well-positioned to capitalise on future growth.
Morgan Stanley Electronic Trading (MSET): Offers global electronic access and execution across cash equities, options and futures. MSET manages relationships with a wide range of clients including hedge funds & Asset Managers, offering a broad suite of trading solutions and execution consultancy to help clients achieve their trading objectives.
COO/ Client Business Analytics: Business management and support across Morgan Stanley’s Equities businesses. Working with a broad range of teams throughout the firm to curate reporting and KPIs for the respective management teams; and working on business plan and strategy presentations.
Prime Brokerage Distribution: Work alongside our Sales, Capital Introductions and Business Consulting teams to service Morgan Stanley’s Hedge Fund clients – both new start-up fund launches as well as existing funds. This involves assisting the PB sales team with the mandate pitch process. For successful mandates you will then support both Cap Intro and Consulting teams; the former works with clients to devise and execute on capital raising strategies and the latter provides the fund with best practices consulting and business development advice.
Risk Management – Non-Financial Risk: Partner with desks, global counterparts and functional areas to roll out new business initiatives in a risk managed way. The team also pro-actively identify potential risk issues, challenge the process and partner with stakeholders to remediate. This includes actively managing non-financial risk issues from identification through to strategic remediation and implementation of robust control solutions.
Risk Management – Counterparty Risk: Work alongside key stakeholders across Sales, Trading and Credit to review client portfolios and determine leverage levels, performing risk analysis for global multi-asset class portfolios to assess market and liquidity risks, across Prime Brokerage and Clearing. The team also contribute to articulating Morgan Stanley’s risk management approach and performing due diligence with clients, understanding strategy, leverage etc. The team also focuses on working with Technology teams to further enhance risk metrics and systems across Equity Prime Brokerage and Listed Derivative/ Clearing business.
Electronic Trading Risk Management (ETRM): The team manages daily risks relating to trading and execution. The team has primary responsibility for the electronic trading plant and the controls that govern it. Typical tasks include limit management, best execution monitoring, trader controls and governance of trading algorithms. Through partnership with the Trading Desks, Operations, Technology and Compliance, the ETRM team ensures orderly execution of client and firm trading activity.
Flow: Primarily focused on single name synthetic equity flow in European, Middle Eastern and African markets. The product and solutions we offer are tailored to suit our client’s strategies and requirements.
Structured Products: Morgan Stanley offers synthetic derivative products to both institutions and hedge funds, allowing them to access markets with ease and simplicity. We also create bespoke structured solutions to meet client demand.
Derivatives Client Relationship Management: Working with Morgan Stanley Sales teams and their clients to enhance client experiences front to back. The team also focuses on coordinating all new business opportunities across Structured Notes, OTC Derivatives and Convertible bonds.
Stock Loan (Securities Lending): The desk facilitates short selling in European and EMEA markets. Both sales and trading work together to offer the most liquidity and information as possible to clients.
*Salary is competitive with excellent benefits.
Qualifications/ Skills/ Requirements
• You are an undergraduate studying for a degree in which a year in industry is part of your structured course syllabus.
• You possess strong analytical, problem-solving, communication and interpersonal skills.
• You analyse and interpret complex information quickly and accurately.
• Study in a financial discipline is not essential, although you should have a strong aptitude for numbers.
Application Deadline
The deadline for application for this position is Sunday 24th November 2024. Please note, we recruit on a rolling basis so application is encouraged as soon as possible.
It is essential to provide accurate details in the application forms, including an up-to-date CV and cover letter as we cannot guarantee you will be able to edit this after submitting your application. In the case that you are permitted to edit your application, it will cause significant delays to your candidacy.