A Day in the Life of a Managing Director Market Risk

In this article, one of Quantnet’s Wall Street Senior Executives describes a typical day in his life as a Managing Director in Market Risk at a bulge bracket investment bank.


06:05 - Wake up, shower, dress
06:10 - Briefly question career choice, think about sleeping in and applying for job at Wal-Mart
06:11 - Recall the great staff and intellectual stimulation job provides, recommit self to career
06:30 - Drive to train station
06:43 - Get on train to NYC
07:30 - Arrive NYC, cab to office
07:40 - Address staffing issue involving zealous junior employee irking bosses, leave message for HR
07:50 - Login, check email, get 1st double short cappucino @ Starbucks, grab two risk quants on the way down to catch up on SCAP
08:00 - Attend career development meeting for risk management junior folk where career planning is discussed
08:30 - Leave meeting early to discuss urgent regulatory issue
08:40 - Grab 4 senior quants and mortgage risk manager to discuss reg issue in more detail
09:00 - Finish assembling VaR data for another regulator, send to compliance
09:15 - Second double short cappucino - this time with two guys who used to work for me (triple gingerbread latte and single vanilla latte, respectively). I pay (as usual), but in a sign of good karma, Starbucks cashier charges me for only the cheapest AND give me two boxes of Christmas Blend VIA packages. I'm a big hitter there.
09:30 - Have informal meeting with Fed staff to discuss Merchant Banking and SCAP
09:45 - Have informal meeting with OCC staff to discuss upcoming exams
10:15 - Catch up with mortgage risk manager on reg issue, go to other building to meet with global head of ops
10:30 - Meet with global head of ops to discuss upcoming reg exams
11:15 - Draft response to Internal Audit about various governance issues
12:00 - Lunch[/b] - grilled flatbread with pepperoni and olives, yum!
12:15 - Draft quick response to MQF students about comparing Fast Fourier seasonals to ARIMA-based seasonals
12:20 - Catch up with Internal Audit on governance
12:30- Try out the Starbucks VIA Christmas blend. Slight bitter aftertaste, but provides necessary additional kick.
13:00 - Look longingly at iPad on Apple site, decide to wait for next version
13:30 - Discuss opening in model review team with head of group, call ex-student to ask him to come in and interview
13:40 - Call wife, express undying love, tell her I'll be home late (again)
13:50 - Informal catch up with head risk quant to discuss staffing
13:55 - Talk to HR on IT budget allocations
14:00 - Dualing mortgage risk meetings
15:00 - Informal meetings with Private Equity, Real Estate, and controllers, gradually working my way down the elevator bank
15:20 - Walk back to office
15:30 - Weekly catch up with risk chief admin: reg issues, limits, expenses
16:00 - Review private equity and real estate risk profile with head of market risk and risk staff
17:00 - Review treasury and global wealth management risk with head of market risk and risk staff
17:45 - Review global limits presentation for management committee with head of market risk
18:15 - Go to corporate gym, work out the kinks
19:00 - Review VaR, sign off, go home
This is great. I like how many are embracing this new idea of "A Day in the life of..."
I really wish some one from investment management side of spectrum also contributes (portfolio managers, investment strategists etc)...

Also, if there is high enough a demand, I will send you "A day in the life of a job hunter"? ;) well, of course after I found a (or the) job....
I strongly agree with Ken. Although I'm only 25, the strong ambitious man I used to be no longer exist. Facing reality of job market makes people change...
Finally someone who exercises.
Not happy with the waking up time and the numerous cups of coffee.
This is not a field for easy going guys.