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A Day in the Life of a Managing Director Market Risk
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<blockquote data-quote="Andy Nguyen" data-source="post: 42021" data-attributes="member: 1"><p><em>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</em>.</p><p></p><p style="text-align: center">[ATTACH=full]7459[/ATTACH] </p><p></p><p><strong> 06:05</strong> - Wake up, shower, dress</p><p><strong>06:10</strong> - Briefly question career choice, think about sleeping in and applying for job at Wal-Mart</p><p><strong>06:11</strong> - Recall the great staff and intellectual stimulation job provides, recommit self to career</p><p><strong>06:30</strong> - Drive to train station</p><p><strong>06:43</strong> - Get on train to NYC</p><p><strong>07:30</strong> - Arrive NYC, cab to office</p><p><strong>07:40</strong> - Address staffing issue involving zealous junior employee irking bosses, leave message for HR</p><p><strong>07:50</strong> - Login, check email, get 1st double short cappucino @ Starbucks, grab two risk quants on the way down to catch up on SCAP</p><p><strong>08:00</strong> - Attend career development meeting for risk management junior folk where career planning is discussed</p><p><strong>08:30</strong> - Leave meeting early to discuss urgent regulatory issue</p><p><strong>08:40</strong> - Grab 4 senior quants and mortgage risk manager to discuss reg issue in more detail</p><p><strong>09:00</strong> - Finish assembling VaR data for another regulator, send to compliance</p><p><strong>09:15</strong> - 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.</p><p><strong>09:30</strong> - Have informal meeting with Fed staff to discuss Merchant Banking and SCAP</p><p><strong>09:45</strong> - Have informal meeting with OCC staff to discuss upcoming exams</p><p><strong>10:15</strong> - Catch up with mortgage risk manager on reg issue, go to other building to meet with global head of ops</p><p><strong>10:30</strong> - Meet with global head of ops to discuss upcoming reg exams</p><p><strong>11:15</strong> - Draft response to Internal Audit about various governance issues</p><p><strong>12:00</strong> - Lunch[/b] - grilled flatbread with pepperoni and olives, yum!</p><p><strong>12:15</strong> - Draft quick response to MQF students about comparing Fast Fourier seasonals to ARIMA-based seasonals</p><p><strong>12:20</strong> - Catch up with Internal Audit on governance</p><p><strong>12:30</strong>- Try out the Starbucks VIA Christmas blend. Slight bitter aftertaste, but provides necessary additional kick.</p><p><strong>13:00</strong> - Look longingly at iPad on Apple site, decide to wait for next version</p><p><strong>13:30</strong> - Discuss opening in model review team with head of group, call ex-student to ask him to come in and interview</p><p><strong>13:40</strong> - Call wife, express undying love, tell her I'll be home late (again)</p><p><strong>13:50</strong> - Informal catch up with head risk quant to discuss staffing</p><p><strong>13:55</strong> - Talk to HR on IT budget allocations</p><p><strong>14:00</strong> - Dualing mortgage risk meetings</p><p><strong>15:00</strong> - Informal meetings with Private Equity, Real Estate, and controllers, gradually working my way down the elevator bank</p><p><strong>15:20</strong> - Walk back to office</p><p><strong>15:30</strong> - Weekly catch up with risk chief admin: reg issues, limits, expenses</p><p><strong>16:00</strong> - Review private equity and real estate risk profile with head of market risk and risk staff</p><p><strong>17:00</strong> - Review treasury and global wealth management risk with head of market risk and risk staff</p><p><strong>17:45</strong> - Review global limits presentation for management committee with head of market risk</p><p><strong>18:15</strong> - Go to corporate gym, work out the kinks</p><p><strong>19:00</strong> - Review VaR, sign off, go home</p></blockquote><p></p>
[QUOTE="Andy Nguyen, post: 42021, member: 1"] [I]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[/I]. [CENTER][ATTACH=full]7459[/ATTACH] [/CENTER] [B] 06:05[/B] - Wake up, shower, dress [B]06:10[/B] - Briefly question career choice, think about sleeping in and applying for job at Wal-Mart [B]06:11[/B] - Recall the great staff and intellectual stimulation job provides, recommit self to career [B]06:30[/B] - Drive to train station [B]06:43[/B] - Get on train to NYC [B]07:30[/B] - Arrive NYC, cab to office [B]07:40[/B] - Address staffing issue involving zealous junior employee irking bosses, leave message for HR [B]07:50[/B] - Login, check email, get 1st double short cappucino @ Starbucks, grab two risk quants on the way down to catch up on SCAP [B]08:00[/B] - Attend career development meeting for risk management junior folk where career planning is discussed [B]08:30[/B] - Leave meeting early to discuss urgent regulatory issue [B]08:40[/B] - Grab 4 senior quants and mortgage risk manager to discuss reg issue in more detail [B]09:00[/B] - Finish assembling VaR data for another regulator, send to compliance [B]09:15[/B] - 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. [B]09:30[/B] - Have informal meeting with Fed staff to discuss Merchant Banking and SCAP [B]09:45[/B] - Have informal meeting with OCC staff to discuss upcoming exams [B]10:15[/B] - Catch up with mortgage risk manager on reg issue, go to other building to meet with global head of ops [B]10:30[/B] - Meet with global head of ops to discuss upcoming reg exams [B]11:15[/B] - Draft response to Internal Audit about various governance issues [B]12:00[/B] - Lunch[/b] - grilled flatbread with pepperoni and olives, yum! [B]12:15[/B] - Draft quick response to MQF students about comparing Fast Fourier seasonals to ARIMA-based seasonals [B]12:20[/B] - Catch up with Internal Audit on governance [B]12:30[/B]- Try out the Starbucks VIA Christmas blend. Slight bitter aftertaste, but provides necessary additional kick. [B]13:00[/B] - Look longingly at iPad on Apple site, decide to wait for next version [B]13:30[/B] - Discuss opening in model review team with head of group, call ex-student to ask him to come in and interview [B]13:40[/B] - Call wife, express undying love, tell her I'll be home late (again) [B]13:50[/B] - Informal catch up with head risk quant to discuss staffing [B]13:55[/B] - Talk to HR on IT budget allocations [B]14:00[/B] - Dualing mortgage risk meetings [B]15:00[/B] - Informal meetings with Private Equity, Real Estate, and controllers, gradually working my way down the elevator bank [B]15:20[/B] - Walk back to office [B]15:30[/B] - Weekly catch up with risk chief admin: reg issues, limits, expenses [B]16:00[/B] - Review private equity and real estate risk profile with head of market risk and risk staff [B]17:00[/B] - Review treasury and global wealth management risk with head of market risk and risk staff [B]17:45[/B] - Review global limits presentation for management committee with head of market risk [B]18:15[/B] - Go to corporate gym, work out the kinks [B]19:00[/B] - Review VaR, sign off, go home [/QUOTE]
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A Day in the Life of a Managing Director Market Risk
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