• C++ Programming for Financial Engineering
    Highly recommended by thousands of MFE students. Covers essential C++ topics with applications to financial engineering. Learn more Join!
    Python for Finance with Intro to Data Science
    Gain practical understanding of Python to read, understand, and write professional Python code for your first day on the job. Learn more Join!
    An Intuition-Based Options Primer for FE
    Ideal for entry level positions interviews and graduate studies, specializing in options trading arbitrage and options valuation models. Learn more Join!

Risk Management?

Some general warnings I feel anyone considering a job in market risk should know about working in market risk. When the trading desks are making tons of money, you will not be credited with generating that revenue stream. (Having that money sloshing around will of course make it easier for the bank to pay you, so you are always hoping the bank makes money anyway). Rather, you will probably just be looked at as something constantly blocking the way for the desks to continue printing money, as you'll always be taking your time looking at the risks of new trades before approving them, or telling traders they have to cut down on some of the risks they are running that they believe will make even more money. On the other hand, when the desks lose a bunch of money, you'll be on the short list of people to blame, because after all it was your job all along to assess the risks of the books. The management of the bank wants you to be around, but the front office would generally prefer you weren't. (At the end of the day, your function is to support the traders' revenue generation, so they look at you as another mouth to feed out of the PnL while you do something they're expected to do anyway.) Also mind what I've said about pay above - good by most standards, but not anywhere near sales/trading pay. The job is in return less stressful and you are less likely to be fired at any given moment, but if the bank starts hemorrhaging money you are under pressure and you're not untouchable. But, hey, that's life. I guess just bear those negatives in mind when considering a job in market risk along with the good things.

thanks, very lively