Model Risk Management

Archidamus

Member
I've made it into the final round of interviews for a model risk management position at a top IB. I have zero professional experience in the industry, so my thoughts are that getting a foot in the door is more important than my initial role. I am also thinking this is a good place to get my feet wet and learn the industry as well as what roles I would like to eventually move into. My question to you all is: whats more important, the company or the role, or a mix of both when it comes to starting your career?
 

Onegin

Active Member
C++ Student
Both are important. The company, and the role.

Not as important as your competency. Keep working on your capabilities, keep improving, and you will have your choice of company and roles.

Congrats on the opportunity, and don’t overthink it. From my experience, getting in to the industry was the most difficult/ hardest jump. I know back office guys who made it to front, but I don’t know anyone who made the hop from a different industry. Well, I guess you’d have to exclude high level government officials going to banks from the sample, but still. Out of people I know.
 

wizardofsoho

New Member
Both are important but honestly within banks now the standard deviation of overall bank name is minimal and pay is quite similar everywhere. If you goto a smaller bank you will just move up faster if you are good whereas if you are at a bigger bank movement is a bit more structured for non front office.
 

Archidamus

Member
From my experience, getting in to the industry was the most difficult/ hardest jump.
The low percentage of responses to job applications supports this, hence why I am thinking this is too good to pass on.

will u get to work on highly technical projects?
I will inquire about opportunities to work on highly technical projects during my interview, in a tactful way of course.

If you goto a smaller bank you will just move up faster if you are good whereas if you are at a bigger bank movement is a bit more structured for non front office.
I was applying to larger banks because they have more opportunities. I'll look into smaller banks if this doesn't pan out and do the required research. Thanks.
 

Wen Cheng

New Member
C++ Student
If you have offers from both model development role and model risk management role, you should take the model development role. A validation role will keep you in the academia setting (checking model assumptions, limitations etc.), without too much learning in real life model development and understanding what is really behind the scene of model development. let alone how the business actually runs and uses the model output. Even if model risk management is your real interest, start with model development if possible. Without model development experience, the recommendations and suggestions you make to model developers can be quite unrealistic.

With all that being said, if this is the only offer you have, take it and congrats!
 

Archidamus

Member
if this is the only offer you have, take it and congrats!
Thanks Wen, I would prefer model dev but model risk mgmt is the only option I have at the moment. If I get this role, and really work my tail off, I will be in a far better position than I am today for mobility into areas of interest.
 
Top