What you'll do in the role: Morgan Stanley & Co. LLC is seeking an Associate, Research in New York, New York to Create and maintain earnings, valuation and industry models. Perform reserve analysis, and actuarial valuation reports based on filings. Write research reports for initiations of coverage, analysis of data, earnings results, and industry news. Interact with institutional investors, respond to requests for models and data analysis. Analyze implications of news/industry developments to companies under coverage. Develop and maintain relationships with investor relations personnel and management of companies under coverage. Conduct industry diligence and primary research through surveys, expert conference calls, and various channel checks to evaluate industry trends. Assist internal sales and trading teams in the timely analysis of breaking news in the sector. Telecommuting permitted up to 1 day per week.
What you'll bring to the role:-Requires a Master's in Finance, Economics or a related field of study.
-Requires two (2) years of experience in the position offered or two (2) years as a Finance, Economics or a related field of study.
-Requires two (2) years of experience with the following skills:
- Working in life insurance industry and equity research covering the insurance and broader financial sectors.
- Applying Excel and building and maintaining financial models to forecast revenue, earnings, and cash flows.
- Valuation techniques such as comparable company analysis and sector-specific methods like sum-of-the-parts (SOTP) valuation.
- Working with GAAP accounting principles, including income statements, balance sheets, and cash flow statements.
- Conducting ratio analysis, vertical and horizontal analysis, and identifying accounting irregularities independently.
- Utilizing understanding of the life insurance industry, including life insurance policies, annuity products, related offerings, insurance statutory accounting principles and practices.
- Regulatory environments and competitive dynamics within the insurance sector.
- Working with financial tools such as Bloomberg, Capital IQ, and FactSet.
- Utilizing understanding of macroeconomic indicators and long-term investment trends.
- Staying current with market trends, emerging financial instruments, and technological advancements.
- Drafting equity research notes, client correspondence, and developing/presenting industry reports; and working with cross-functional teams.
Expected base pay rates for the role will be between $200,000 and $200,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
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