PPl, Given the current situation of the world wht prosepcts u see for FRM(Financial Risk Manager) going forward …
The regulators will be stringent and most banks’ Risk Departments will fasten up their belts after the meltdown. Basel committee will seriously look at giving much more detailed guidelines and coverage to liquidity risk, which arguably has been given a much less attention (than required). If you are in your 20s and looking at a career in Risk, I’d say that you are in the right world at the right time.
Any chance for early 30s guys to switch from investments to risk side?
Geranimo-- i think there is definitely a good chance…the only prerequisite is to have the technical skills, ie, programming languages and thorough understanding of actuary jargon…i work at an insurance company and the risk department is the only one hiring… i have only been working for a short time, but i just learned some basic vba and jargon and i feel like i contribute a lot… when i graduated from undergrad in june, i had the choice between being a trading assistant or risk analyst…i jumped on the risk analyst train and they have been very helpful…the veteran employees are taking me under their wings and explaining the business very well…and i am not the only one… a guy just joined our company after dropping out of a math PhD program…he is 32… he is also getting paid pretty well considering his lack of experience, he worked mostly construction until he entered the PhD…he is making 65 in cincinnati, which is excellent for a first job…
anupamjain008 – Well i am currently workin in consumer credit risk at Citi … have a base degree in computer sciences and will be finishin ma evening MBA this december … Passed CFA level 1 exam this June and in ma mid 20’s. Though FRM doesnt directly apply to what i am currently doing but definitely does contribute a lil bit. But i guess doin FRM would make my transition to core risk a lot easier … Any suggestions …
alibawa Wrote: ------------------------------------------------------- > anupamjain008 – > Though FRM doesnt directly apply > to what i am currently doing but definitely does > contribute a lil bit. But i guess doin FRM would > make my transition to core risk a lot easier … > > > Any suggestions … FRM will give you a very solid understanding of the basics. Though you won’t become an *expert* in quantitative issues in risk, however you will be able to understand a lot more than you can now. There is a lot of ground to cover and working in risk might be helpful, though I have a feeling that you are working in a very specialized niche area within Risk Management and are not aware of broad aspects. If you wanna make a transition into core risk, from where I speak (India), almost all banks has FRM as an unofficial pre-requisite for entry in the department. So you know the value. Two suggestions here: 1. Inquire with your HR department about their FRM sponsorship policy. 2. Register for the exam ASAP. Trust me FRM is great bang on buck and with CFA L2 and FRM, you will be able to leverage a lot in Risk. And FRM is definitely doable after studying for 5 months. ps: JDV and others are better suited to answer your question.
Thanks alot… Well goin for level 2 in June and then straight for FRM in Nov would be a tuff ask…given i am already a lil saturated doin ma mba for 3+ years with ma job (CFA level 1 in btwn)… i guess a month or two of relaxation would be good… so i think i need to decide between level 2 and FRM… Thanks anyways
Lobaugma - Is the guy you work with the kid from GoodWill Hunting?
hahaha…i don’t think so…this guy is actually pretentious, so i am not sure how he worked with the other people… he belittles every local school only to find out someone in the department graduated from there…
how is prep so far?