Location: New York,NY, USA
Placement and Duration The Institutional Equity Strats Summer Associate Program is an intensive 10-week program that provides Summer Associates the opportunity to work alongside full-time professionals on impactful, quantitative projects. Summer Associates will work within an assigned team for the entirety of the program. The multi-faceted program features senior strat speaker series, product area training, networking events, and community service. With individual coaching and continuous feedback, the program enables Summer Associates to experience and understand what a long-term career with the Firm entails. Training Program The Summer will kick off with a week-long introductory training program, which will provide an institutional contextualization to the work that Summer Associates will be doing through market-knowledge training, finance workshops, coding and product training. Following the training week, Summer Associates will continue to receive more individualized, on-the-job training as they join their assigned desks and begin their daily work and projects. Summer Associates will have a direct manager, as well as a program mentor, both of whom will act as invaluable resources throughout their time at Morgan Stanley. Responsibilities Morgan Stanley operates several teams which require experts in statistical analysis, applied mathematics, computer science and computational finance. These teams operate our leading trading platforms, market making operations and derivative structuring, pricing and risk management. The mathematical problems arising in these areas are subtle, complex and require a broad range of technical skills. As a Summer Associate, you will leverage the technical expertise you have been grooming in your academic studies and apply it to extremely applied problems. Many of the applied problems and processes that you will work on are still unsolved and are yet to be optimized. Institutional Equity Strats operates with a core focus on enabling sales and trading to innovate and scale business activities using cutting-edge technologies and world-class infrastructure. Primary responsibilities include creation of data and analytical decision-making tools, conducting analysis and presenting research ideas, developing supporting frameworks and workflows, and delivering valuation and risk management systems. Summer Associates sit within four groups of Institutional Equity Strats. You may be selected to interview with multiple teams: Derivatives: Multiple teams dedicated to Derivative businesses (Vanilla, Corporate, Exotic Derivatives, Quantitative Investment Strategies), Derivative Strats are responsible for implementing and supporting quantitative models used in pricing, risk management and trading activity optimization. Delta One: Dedicated to businesses covering cash products (i.e. common stock, funds, and related assets) with a core focus on enabling sales and trading to innovate and scale business activities using cutting-edge technologies and world-class infrastructure. Primary responsibilities include creation of data and analytical decision-making tools, conducting analysis and presenting research ideas, developing supporting frameworks and workflows, and delivering valuation and risk management systems. Automated Market Making: AMM strats work together with traders and developers to build a world-class automated options market-maker. Our success is dependent on sophisticated quantitative modelling on problems spanning from optimal execution to volatility estimation, whose time-scales spans from days to micro-seconds.Quantitative Research: The Quantitative Research (QR) group designs, builds and maintains the models which drive the equity trading engines at Morgan Stanley and our systems are used globally by both internal trading groups and clients of the firm. We utilize systematic, evidence-based approaches to understand how the markets work and put those ideas in action. The team spans the disciplines of finance, econometrics, statistics, mathematics, computer science and data science, with many team members versed in multiple areas. Qualifications/Skills/Requirements