Your Opportunity as an Analyst in Credit Risk

After receiving both classroom and on-the-job training, we expect that Analysts will assume a critical role in the Credit Department. Training covers accounting, finance, broad-based financial analysis and firm-specific systems. Analysts learn to employ the skills fundamental to credit research (critical reading, writing, reasoning and communicating) to assess the creditworthiness of companies in various industries, and eventually present and defend their views to an internal committee for approval. The research process is intended to develop Analysts’ knowledge and understanding of a company’s business, its primary strengths and weaknesses pertaining to its overall financial performance, and its likelihood of growth, deterioration, default or bankruptcy.

Upon completion of training, Analysts join their teams full time; training at this point becomes on-the-job, working on evaluating new and existing clients relative to requests for loans, new trades or evaluation for a periodic formal credit review. While teams are organized by industry, there are certain teams that have significant support responsibilities for traded products, such as swaps, commodities and securitized products. The responsibilities of a first-year Analyst are diverse and include spreading financial statements, monitoring compliance with loan agreements, researching and writing formal credit reviews, reviewing firm-wide credit exposure, determining accurate credit exposure and developing special presentations for senior management.

Over time, Analysts can experience increased exposure to external clients, participating in due diligence visits. Analysts may have an increasing and more visible role at internal meetings with firmwide senior management, particularly in relation to approval of loans. As Analysts better understand traded products, they generally have direct interaction with salespeople, traders and bankers, as well as other risk-management professionals within Morgan Stanley. Exposure to the full scope of products offered by Morgan Stanley to its client base and to the professionals who manage those products is one of the most interesting aspects of the Analyst experience. Many Credit Analysts have redirected their careers after completing the program, having found a new outlet for their professional skills and interests.

The program generally lasts three years. Some Analysts may be invited to stay on as Associates. Successful completion of the Analyst Program may also create career opportunities within Morgan Stanley or externally. Alternatively, many departing Analysts choose to pursue graduate educational opportunities.

Formal training lasts approximately three weeks. The first two weeks include intensive accounting and finance study, training on Morgan Stanley systems, and in-depth training on other standard software. Further, there is one week of credit-specific training, in which senior Morgan Stanley professionals make interactive presentations about their departments and responsibilities and how those functional areas interface with Credit. Department members provide presentations on technical matters, and there is a wide range of presentations about practical use of systems, and “how to” sessions about writing reviews, loan approvals and spreading financial statements.

Senior management takes a keen interest in your progress as an Analyst, and will look to you for fresh perspectives and new ideas. You will be encouraged to take on responsibility quickly with a view to developing your career. To help in this process, you will typically be assigned both a junior mentor and a senior mentor to act as your confidants and provide you with day-to-day advice.

Mobility is an important part of building a Morgan Stanley career, and Analysts are encouraged to rotate within the Investment Banking Division and Global Capital Markets, and across country, product and industry groups. Whether you pursue investment banking or a related financial field, the skills and experience you develop as an Analyst will give you a strong foundation for your career.

Additional training throughout the year may take the form of market and strategic updates, group overviews and case studies. We also support you in taking language classes and financial examinations, such as CFA and FSA qualifications, where necessary.

At the end of your three-year program you may be invited to apply for promotion to Associate, further expanding your investment banking expertise and career potential within the firm.

• Superior written and verbal communication skills are critical.
• Quantitative orientation, with an interest and/or aptitude for analysis.
• Ability to manage dynamic priorities as well as work well under pressure.
• A background in finance and/or accounting is considered very helpful.
• Teamwork is essential in all aspects of the job.
• Inquisitive – our experience has shown that Analysts who are comfortable asking questions, demonstrating confidence and intellectual curiosity, have enjoyed greater success in Credit.

Requirements

• College graduate, preferably with an Accounting and/or Finance degree
• Strong GPA
• Work experience in the financial services industry is helpful.

Selection Process

Following a successful initial interview, you may be invited to meet with a team of Credit professionals.

How to Apply

Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html

Credit Risk interviews at select college campuses and has a resume-drop program at several other colleges and universities.

Deadlines

Formal recruiting occurs during the fall. We suggest interested applicants contact us no later than September 2007 to be considered during the process.