How to get a job in financial risk management area?

[Liming]

Hello all guys,

I think it would be great if you all can share your valuable experiences and thoughts about how to get a job in financial risk management area. :cheese: I guess many if not most of you are already working on this front or areas very close to it, such as trading, but I have relatively no professional experiences in this area, although my CV can be improved a lot by my recently passed FRM Full '09. So seeking a job in this area is the next big challenge for me after I've conquered the exam, given that my background is not exactly finance and risk - focused:

1) Bachelor - Computer Studies (2nd upper, a UK university)
2) Master - International Business (learned about economics, statistics and financial markets among all other modules)
3) Current position - data management officer in a custodian bank (related to financial markets/products but not analytical or quantitative in nature and even very far away from trading and risk side)

I know although I've passed the exam and the current hiring activity in the job market for risk management is on a upward trend, it's gonna be tough for me to start my career in risk management, unlike most of you guys here. So I would really appreciate it if you can kindly share.

By the way, I'm working in Singapore right now.

Thanks :lol:

Liming
07/01/10

 

[spenserzhou]

I think you have a great chance to have a position in market risk control or bookrunning for trading, at least in Europe. Dont know how the criterium is like in Singapore.

I can give you some advise in the interview for risk department: 1) know the whole interest rate curve models: one factor, arbitrage model, HJM, and Libor market model, know their flaws and their advantages 2) know some of the popular products well, construction, their risk (FRM material is very good at this point!!!!!) 3) know VAR modelling and believe Basel II will be certainly a great plus. Dont think they really expect you to know that.......you are great at programming, I think. That's already a HUGE plus.

 

[Liming]

Hi Spenserzhou,

Thanks a lot for sharing. I will certainly follow your advice if I really get an interview one day! However, after my thorough analysis of my own situation, I think I have one big (might be the only ) disadvantage over other potential job seekers, that I lack really relevant professional experiences. I'm not sure how the job market for risk management segment is doing now, such as how fierce the competition among job seekers is, and the number of FRM people, especially the number of risk pepole with relevant working experiences that will have an edge. I think my only hope lies in the possibility that the demand for risk profession is increasing fast enough so as to outstrip the supply of risk job seekers, thereby forcing employers to lower their requirements on work experiences.

Liming
07/Jan/10

 

[spenserzhou]

Hi Liming - I am not quite sure about the quality of job seekers in risk area. However, my feeling is. a lot of risk guys with a little bit experience go to front office, e.g. trading, structuring, or do risks for hedge fonds in investmen committee. Hence they would not be a threat to you. I am actually looking for trading jobs. I only have some feeling in job seeking in that area. Hope it could help. Think at last in last year, they only want experienced ppl in europe. And they do need you to fulfill all the criterien they listed. You can take that as worst scenario. As european bank is very convservative and they were hitten very hard by the financial crise. I mean really VERY. and job market is getting better as per head hunter.....

 

[Valentin]

Hi Liming,

I just read through your question and concerns. It's now about an year since you passed FRM Full. I'm in a very similar situation, also in Singapore. But I don't even work in a bank. I'm yet to sit for the exams.

Would you kindly share with us how things developed for you since then? I sincerely hope that you have succeeded.

Regards,
Valentin.