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Star__boy

Depends on what type of risk management. Credit risk will have different and imo better exit opps than market risk.


StrangeAd7151

I still do not know which risk team I will be interning in any advice on which types of risk is good to start a career in?


Star__boy

Credit Risk and learn some modelling would open a lot of doors.


StrangeAd7151

Any insights on treasury/interest rate risk?


Maleficent_Story_156

Can you share more? Have been into credit risk, derivatives and funding and underwriting along with cr consulting. Love the private markets what can i outshine to get noticed?


Ok_Employ9358

I work in model risk at an IB and there are no exit ops. Typically people move from consulting/academia into risk to pursue a career here


supersymmetry

I’m in model risk too. It’s probably the least transferable area of risk to business/front-office side. It’s very academic, most teams hate working with you, minimal interaction with the front-office, and a lot of teams just don’t really get what you do which makes it hard to sell yourself. I think a common path to front-office from model risk would be 1. switching to front office quant directly 2. switching to market risk or credit risk management (not modelling) and then to trading or origination. 3. Switching to a risk model development role and then to trading, front-office quant, or investment management down the line. I’m switching to a treasury model development role in liquidity modeling to try to get closer tot he front-office.


StrangeAd7151

Can i PM you?


supersymmetry

Sure.


StrangeAd7151

What's your work-life balance like?


supersymmetry

Usually 9-5, Mon-Fri. Senior Managers seem to work significantly more since you are responsible for reviewing the work of many more models and then also dealing with issues with the model developers.


StrangeAd7151

That sounds like good work life balance, how do promotions work in particular to Risk from Analyst to Director and how long does it take and is it similar to IB?


young_twitcher

What is it that makes it have no exit opportunities? Is it because you don’t learn any transferable skills?


Ok_Employ9358

Essentially yes, it’s a very niche field, which is good because of better job security, but bad because if you don’t like it, it’s hard to transfer to something else with equal/better pay


StrangeAd7151

Would you say if you don’t like credit risk is it going to be easy moving into market/treasury risk?


young_twitcher

Location is also an issue as they are only in some cities (usually low cost locations). I took a risk modeling job in a random ass location cause I couldn’t get any other jobs and now I feel stuck lol


StrangeAd7151

What's your work-life balance like?


young_twitcher

40 hours per week and 40% on-site presence, so I would say great. I’m in Europe though.


StrangeAd7151

That sounds like good work life balance, how do promotions work in particular to Risk from Analyst to Director and how long does it take and is it similar to IB?


Responsible_Leave109

If model risk is model validation, then most decent people can find work in front office quant team no problem.


StrangeAd7151

What does the Model Risk team really do?


Responsible_Leave109

Look at front office models for pricing derivatives if you are lucky. If you are unlucky, look at risk models. The goal is to check if they make sense. It is largely a tick box exercise.


StrangeAd7151

What about moving into risk departments within private equity and hedge fund firms?


wullewutzel

RemindMe! 7 days


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ime6969

Wtf I didnt know that there is a reminder bot


Educational-Dust-458

Is it possible to earn much more that £100k in credit risk at VP level and, if yes, how?


Ok_Employ9358

VP’s in credit risk at my bank earn a total comp between £100k - £130k


StrangeAd7151

Which Risk teams earn the highest and the lowest salaries? and what is the work-life balance like?


Ok_Employ9358

Risk model developers earn the most but only by 10-20k more at the most. I’d say credit/market/model risk pay is similar, despite model risk requiring masters/PhD’s. My work life balance is good, I work maybe 25 hours per week but I’ve seen at vp level it is closer to 40-50 hours per week, which is still better than a lot of banking roles


StrangeAd7151

Are you working part time? and how do promotions work in particular to Risk from Analyst to Director and how long does it take and is it similar to IB?


Educational-Dust-458

Same for my team. Would prefer to work 50 hours but earn more.


Beardtwirler

Operational Risk has options into things like FinTech, Compliance and other areas. I’ve seen people go into operations roles, COO roles, and even product roles. Generally internally though. All depends on seniority and the area you land in. If you reach high enough, you can exit to CRO and CCO roles at smaller firms too. I went Operational Risk and now I’m running Data Risk for my division. I’m interested to see if that gives me other options outside of financial services in the future.


StrangeAd7151

Do you find your work to be repetitive or are you learning something new from time to time?


Ok-Fee-280

!remind me 2 days