Strategist – Capital Pricing, Structuring & Strategy (FRS)

JOB LEVEL: Associate / Senior Associate (Professional)

TIER: NA

Strategist – Capital Pricing, Structuring & Strategy

Financial Resources & Strategy (FRS)

Location: Mumbai (onsite/hybrid)

Experience: ~2–5 years

Education: Bachelor's or Master's in a quantitative discipline – Engineering, Mathematics, Statistics, Physics, Economics or Financial Engineering. IIT / BITS / ISI or equivalent, or a CFA / FRM, is a plus.

About FRS

The Financial Resources and Strategy (FRS) team optimizes the Firm’s financial resources and develops strategic initiatives to support growth and resilience, working directly with the heads of the Firm’s Institutional Securities businesses and partnering with Corporate Treasury, Finance and Risk. The team is also responsible for pricing resource-intensive transactions – in particular uncollateralized corporate derivatives and structured financing. The Mumbai team supports the global group headquartered in New York. FRS is organized into four sub-teams:

• Capital – Manages the Firm’s capital structure and regulatory capital compliance.
• Funding – Optimizes the sources and costs of financing across markets.
• Liquidity – Maintains liquidity buffers and strategies to meet obligations under stress.
• Margin – Optimizes margin and resource allocation across trading and client activity.

About the Role

A hybrid role at the intersection of quantitative strats work and front-office commercial decision-making. You will price capital- and funding-intensive transactions alongside sales, structuring and GCM, and build the models, analytics and tooling that make that pricing scalable and repeatable. You will develop deep expertise in how capital, funding and liquidity regimes translate into the economics of a trade – a scarce skill set with broad onward paths across FRS, Strats and the trading businesses.

What You Will Do / Responsibilities

Pricing, structuring and business engagement

• Price capital- and funding-intensive transactions, with a focus on corporate derivatives and structured financing.
• Work with sales, structuring and GCM to structure trades optimally – thinking through client requests, carry profiles and cash flows – to make the pricing work.
• Advise business heads on the impact of regulatory and internal resource hurdles, and on optimizing the product footprint to maximize returns.
• Support SFT / GSIB / NSFR optimization; track overborrow, funding inefficiencies and margin concentration, and partner with desks, ops and strats to drive fixes to closure.

Modelling, analytics and tooling

• Build tools that automate valuation and risk metrics for repos, stock loans and total return swaps, and for the swaps and options used in pricing capital hurdles.
• Own pricing, reporting and analytical frameworks end to end, including dashboards that track and forecast capital, margin, funding and liquidity metrics for traders and business operators.
• Build a working knowledge of capital, funding and liquidity rules and models, and translate them into analysis the business can act on.
• Partner with technology to deliver robust, scalable, production-ready solutions, and keep communication with GCM, Controllers, Corporate Treasury, Finance, Risk and regional counterparts tight and decision-oriented.

Skills Required

• Experience: 2–5 years at an investment bank or similar institution, in a role requiring both programming skills and an understanding of financial products.
• Technical: Python (Pandas, NumPy) and strong Excel; clean, maintainable code and reproducible workflows rather than one-off scripts.
• Quantitative: Solid financial mathematics – discounting, curves, derivative valuation and risk sensitivities.
• Products: Derivatives, plus working knowledge of repo / stock loan / SFT, CCP margin, and collateral and liquidity drivers.
• Capital regimes: Familiarity with RWA, CCAR, GSIB, NSFR and LCR, and with balance sheet and funding models.
• Communication: Ability to summarize complex problems and detailed analysis with clarity and brevity, in writing and in person, for busy stakeholders.
• Mindset: Ownership and a bias for action; frames ambiguous problems, proposes options with trade-offs, and follows through. Integrity in handling confidential information.

Nice to Have

• q / KDB+, Git, Scala or Java, Power BI or Tableau, or exposure to Data Fabric and other firm data platforms.
• Exposure to XVA or capital and funding valuation adjustments, or to derivative pricing libraries.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years.  Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices​ into your browser.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background.  Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.