I currently working as the Head of Asset and Liability management unit in one of the big multinational commercial banks, however I got an offer to go for another small regional bank .So the deal is the following: - I will get like almost double my current package - My new position will be as a senior market risk officer (I don’t have experience in market risk ) So the advice that seek ,should I accept this offer even if am not going to be responsible for that market risk department ,or should I let this new salary go in order to keep my current position .
why would someone get 2X the package working at a small regional as a risk officer vs. the head of ALCO at a multi national? that doesn’t add up. to be the head of ALCO, you got to have some pretty serious knowledge. most go after CEO or SVP positions after that.
im with frankarabia this doesnt add up. head of A+L management at a big multi bank should be bringing in some big bucks too and would I assume have many many years experience. Seems like AF is starting to attract some old talent on the board?
parac0da - - I would be careful with this move. Go for the move if you want the new opportunity and if you are confident that you could handle the position and the people around you.
parac0da - - to add to that, I had a similar experience. Just be clear to the company about your experience (or lack thereof) and your willingness to be a quick learner and ‘grow’ into the position after you accept the offer and start at the new company.
Well thanks guys for your honest feedback, just to be clear. I am just 28 years old. Although I am the head of the ALM ,I only have experience of 3 years in this position, the reason that I got this position is because of the fact that this unit was initiated in 2007 and I was the only guy working in that unit. As for the bank I am working at a subsidiary for that bank in the Middle East.
parac0da Wrote: ------------------------------------------------------- > Well thanks guys for your honest feedback, just to > be clear. I am just 28 years old. > Although I am the head of the ALM ,I only have > experience of 3 years in this position, the reason > that I got this position is because of the fact > that this unit was initiated in 2007 and I was the > only guy working in that unit. As for the bank I > am working at a subsidiary for that bank in the > Middle East. What is your firm (the subsidiary you work at) AUM?
It is a subsidiary of Societe Generale
If you are looking at an American regional bank, check the FDIC site for “Last Financial Information” and go to “Assets and Liabilities” or “Balance Sheet” and then scroll down to “Noncurrent Loans to Loans”. Look at their distressed loan mix and compare to other industry compeititors. Many regionals and smaller banks are on very unstable footing right now and your new job may disappear in a year if they are seized. I wouldnt rely on the stock price, as analysts dont necessarily know how to value banks if they dont understand the internal workings of a bank.
parac0da Wrote: ------------------------------------------------------- > It is a subsidiary of Societe Generale this explains the pay…
BizBanker Wrote: ------------------------------------------------------- > If you are looking at an American regional bank, > check the FDIC site for “Last Financial > Information” and go to “Assets and Liabilities” or > “Balance Sheet” and then scroll down to > “Noncurrent Loans to Loans”. Look at their > distressed loan mix and compare to other industry > compeititors. Many regionals and smaller banks are > on very unstable footing right now and your new > job may disappear in a year if they are seized. I > wouldnt rely on the stock price, as analysts dont > necessarily know how to value banks if they dont > understand the internal workings of a bank. BizBanker - what kind of banking do you do in your job currently?
justin88 Wrote: ------------------------------------------------------- > parac0da Wrote: > -------------------------------------------------- > ----- > > It is a subsidiary of Societe Generale > > this explains the pay… I think the justification is that i am already underpaid
justin88 Wrote: ------------------------------------------------------- > parac0da Wrote: > -------------------------------------------------- > ----- > > It is a subsidiary of Societe Generale > > this explains the pay… I think the justification is that i am already underpaid
BizBanker Wrote: ------------------------------------------------------- > If you are looking at an American regional bank, > check the FDIC site for “Last Financial > Information” and go to “Assets and Liabilities” or > “Balance Sheet” and then scroll down to > “Noncurrent Loans to Loans”. Look at their > distressed loan mix and compare to other industry > compeititors. Many regionals and smaller banks are > on very unstable footing right now and your new > job may disappear in a year if they are seized. I > wouldnt rely on the stock price, as analysts dont > necessarily know how to value banks if they dont > understand the internal workings of a bank. It is 5 year old bank in my country ,however with a loan/Deposit ratio of 50% and a large retail lending scale ,i dont think they have troubles.Any way last year was their first year with positive income and for Q1 of 2010 they are almost 100% up
Commercial for a regional bank. I combine my CFA studies with banking and help my regional SVP pick out weaker banks for enhanced marketing. Alot of good info is disclosed there and I can pick out the banks that are going down and mention them in conversations. “Oh you bank there? Are they still in business?” Haha.
Sorry , I know that i already got a feedback ,but i really have to decide by next Monday ,and am still not sure ,need more people to give me feedback