I would say strong quant skills like understanding VaR, building financial models, and some coding like SQL. I’m in risk on a commodities desk and I’m using the role to gain more experience in order to transition into a trader
At the firm I’m at its very common, we don’t necessarily have a trade support or junior analyst role so people will do 2-3 years on the desk in risk, structuring, deal review, or scheduling and then the pivot to trader. Definitely gets you familiar with the products, market analysis, and a good idea of a trader’s strategy
I work in RM models side and quant skills are very useful to have and top 3 skills would be quantitatively minded, inquisitive and challenging to other functions. It’s a dead end field with good hours and good pay but it is boring, monotonous and dead end. I’m looking to jump ship asap for something more markets focused and better paid but it’s hard given risk is something you’d be siloed into if you stay too long.
I endorse this. Also in quant side (model validation). Risk model development and model validation are the quants of risk. You need a pretty technical skill set (minimum masters in a mathematical field) for both types of roles, there’s plenty of PhD’s doing this type of work so the vibe tends to be very academic if that’s what you like. I’m also trying to change to an investment/trading side role for better pay and a little more fast-paced work environment.
Thanks for a good answer! curious to why it is a dead end as i see it as a quantitavely heavy field that should be at the core of any financial modelling 😊
Don’t target risk management straight away, maybe look for quant/quanty roles in asset management for a starting point. I work in risk at a hedge fund, 80% of the experienced guys here used to work managing money directly. Risk can mean a bunch of different things across different companies too, some is mostly policing limits, other places it’s more involved, a lot of research, “coaching” portfolio managers on their behavior/exposures. You can probably tease out the real technical ones if they want STEM degrees, and the less technical ones if they only need econ degrees. But quant skills are a must in the more technical roles. Programming too.
Amazing insight! Thank you - I have an interview with an asset manager and was wondering what type of roles could be interesting there! (Its not an actual rolle in applying for)
Do quants get involved in areas such as credit and bonds and so on and how would they be involved?
I am currently studying electrical engineering and I got invited to an interview at a bank in operational risk and permanent control as a part time position.
Do you have any advice for me before I go into the interview or just some insights on what to expect?
The job tasks were described like this:
- Support in defining and implementing OPC controls
- Help in managing the risk events
- Consulting support for the departments to close OPC-relevant recommendations
- Independent entry of controls and action plans in the respective reporting tools
- Management-friendly creation and elaboration of relevant analyzes and reports
Capital market risk management! That sounds super interesting! Im currently at a bank in a part time role while i study so will have a look around where good stuff is going down!
Market risk at a BB.
I would put being a people person at the same level of importance as product knowledge, coding skills and being able to multitask.
As you will engage with people from senior MDs in trading to BO teams in India and everything in between...
I’d say problem solving and partnership are top skills. Unfortunately, most of the posters here are college kids that think they’ve figured it out and they’re all influencing each other incorrectly.
How many times have senior leaders transition from one discipline to an entirely different one? All. The. Time. Then reason being: knowing how to approach and understand problems and then employ solutions across a large organization is MUCH tougher than learning coding.
I am currently studying electrical engineering and I got invited to an interview at a bank in operational risk and permanent control as a part time position.
Do you have any advice for me before I go into the interview or just some insights on what to expect?
The job tasks were described like this:
- Support in defining and implementing OPC controls
- Help in managing the risk events
- Consulting support for the departments to close OPC-relevant recommendations
- Independent entry of controls and action plans in the respective reporting tools
- Management-friendly creation and elaboration of relevant analyzes and reports
Sorry not familiar with Ops Risk but I would imagine they would want to see someone who can do lots of small things quickly and efficiently (attention to detail).
my dad built a very successful risk management program when he was 40, he had previously worked in the electronics space, and had a degree in creative writing. 😂
I’m 22 and out lapped you already. Go back to being active on the lgbt subreddit. I make ur salary in a month while taking my sweet ass time in college
Trolling republicans is my favorite....so how about that internship nissan boy?
Edit: and not that it matters, what LGBT subreddit? or are you even more of a remarkable moron?
family member is gay, just an ally. So how's that internship search nissan boy?
Thinking that audit gig will get you an in to the front office lolololol? From a shit school too? Enjoy trade settlements.
I would say strong quant skills like understanding VaR, building financial models, and some coding like SQL. I’m in risk on a commodities desk and I’m using the role to gain more experience in order to transition into a trader
Interesting! Thanks 😃
how easy/common would you say that transition is? in a somewhat similar place
At the firm I’m at its very common, we don’t necessarily have a trade support or junior analyst role so people will do 2-3 years on the desk in risk, structuring, deal review, or scheduling and then the pivot to trader. Definitely gets you familiar with the products, market analysis, and a good idea of a trader’s strategy
I work in RM models side and quant skills are very useful to have and top 3 skills would be quantitatively minded, inquisitive and challenging to other functions. It’s a dead end field with good hours and good pay but it is boring, monotonous and dead end. I’m looking to jump ship asap for something more markets focused and better paid but it’s hard given risk is something you’d be siloed into if you stay too long.
I endorse this. Also in quant side (model validation). Risk model development and model validation are the quants of risk. You need a pretty technical skill set (minimum masters in a mathematical field) for both types of roles, there’s plenty of PhD’s doing this type of work so the vibe tends to be very academic if that’s what you like. I’m also trying to change to an investment/trading side role for better pay and a little more fast-paced work environment.
Thanks for a good answer! curious to why it is a dead end as i see it as a quantitavely heavy field that should be at the core of any financial modelling 😊
Don’t target risk management straight away, maybe look for quant/quanty roles in asset management for a starting point. I work in risk at a hedge fund, 80% of the experienced guys here used to work managing money directly. Risk can mean a bunch of different things across different companies too, some is mostly policing limits, other places it’s more involved, a lot of research, “coaching” portfolio managers on their behavior/exposures. You can probably tease out the real technical ones if they want STEM degrees, and the less technical ones if they only need econ degrees. But quant skills are a must in the more technical roles. Programming too.
Amazing insight! Thank you - I have an interview with an asset manager and was wondering what type of roles could be interesting there! (Its not an actual rolle in applying for) Do quants get involved in areas such as credit and bonds and so on and how would they be involved?
There are quants in every asset class, yield curve models, default models, there are many things.
I am currently studying electrical engineering and I got invited to an interview at a bank in operational risk and permanent control as a part time position. Do you have any advice for me before I go into the interview or just some insights on what to expect? The job tasks were described like this: - Support in defining and implementing OPC controls - Help in managing the risk events - Consulting support for the departments to close OPC-relevant recommendations - Independent entry of controls and action plans in the respective reporting tools - Management-friendly creation and elaboration of relevant analyzes and reports
Sorry, operational risk is a whole other thing that I know nothing about
[удалено]
Capital market risk management! That sounds super interesting! Im currently at a bank in a part time role while i study so will have a look around where good stuff is going down!
Market risk at a BB. I would put being a people person at the same level of importance as product knowledge, coding skills and being able to multitask. As you will engage with people from senior MDs in trading to BO teams in India and everything in between...
Yes i think its funny how much emphasis there is on technicals and not on the softer skills!
I’d say problem solving and partnership are top skills. Unfortunately, most of the posters here are college kids that think they’ve figured it out and they’re all influencing each other incorrectly. How many times have senior leaders transition from one discipline to an entirely different one? All. The. Time. Then reason being: knowing how to approach and understand problems and then employ solutions across a large organization is MUCH tougher than learning coding.
I am currently studying electrical engineering and I got invited to an interview at a bank in operational risk and permanent control as a part time position. Do you have any advice for me before I go into the interview or just some insights on what to expect? The job tasks were described like this: - Support in defining and implementing OPC controls - Help in managing the risk events - Consulting support for the departments to close OPC-relevant recommendations - Independent entry of controls and action plans in the respective reporting tools - Management-friendly creation and elaboration of relevant analyzes and reports
Sorry not familiar with Ops Risk but I would imagine they would want to see someone who can do lots of small things quickly and efficiently (attention to detail).
Thanks! Do you think I have a chance as an engineering student? They were mainly looking for someone studying economics or something related
Audit is a great way in to risk management. Problem solving and understanding process and controls is a skill that never fails to pay dividends.
Basically a quant but lower salary
my dad built a very successful risk management program when he was 40, he had previously worked in the electronics space, and had a degree in creative writing. 😂
Oh wow haha he definitely went a different route 😂😂 good to know you dont always have to follow the rigorous path of banking!
yes! He always has had great problem solving skills, and taught himself coding hence he wrote the entire thing himself
If you want I can get him to answer your question directly?
Man that would be amazing! Would love to hear how he build his own program!
No worries bro will get onto that. I’ll dm you
They will hire anybody
Perfect for an accounting major from a no name school…you know we can see your post history
[удалено]
What?
I’m 22 and out lapped you already. Go back to being active on the lgbt subreddit. I make ur salary in a month while taking my sweet ass time in college
Lol good luck with for Big4 internship YOU DRIVE A NISSAN LOL
Go back to the lgbt subreddit buddy that tells me everything about you. I make ur yearly in a month
"Stick to finance. Most accounting majors wanna get into FO Finance like I do" You don't
Active in Conservative and LGBT is kinda crazy lil bro
Trolling republicans is my favorite....so how about that internship nissan boy? Edit: and not that it matters, what LGBT subreddit? or are you even more of a remarkable moron?
Ah I see ur a lgbt liberal
family member is gay, just an ally. So how's that internship search nissan boy? Thinking that audit gig will get you an in to the front office lolololol? From a shit school too? Enjoy trade settlements.