Totally two different direction for one goal

[geoffreyzhao]

Hi,

Have a career question in my mind for a long time.

I am working as a model validation manager for fixed income models in a bank, but, be honest, it is a job you would do on your own and not exposed to any big picture of the bank. We also got so many strong quant people in the team, and I am not sure the potential of this career path.

Just got a offer from totally different department (business planning and analysis) which directly working with CFO.

I would like to accumulate some experiences for my final buy-side portfolio manager position goal.

Any suggestion would be really appreciated! Thank you!

Forgive me if I post this in a wrong section.

 

[ZFL]

How long have you been working as a model validation manager? In my opinion, one can learn a lot by being a derivatives pricing model validator. Having a focus on FI/IR is good as well. Maybe you can keep learning portfolio management, portfolio construction as well as programming skills, talk to people, and wait for a better chance. If one is validating derivatives pricing models, yes he/she lacks a holistic portfolio view. This is a big drawback if one is not going the derivatives pricing quant/developer route.

I would suggest you switch to mrk risk modelling in a bank (in my bank, risk modelers are grouped by asset classes basically and have a focus, so maybe take FI/IR/credit for you), or credit/liquidity/market risk modelling team in an insurance comp so as to get some exposure to asset/liability exposure, or investment risk modelling at some funds. However, these have to be development positions, not validation... still, these are only stepping stones. I frankly have no idea about BP&A but a little search does not seem to impress me as a good stepping stone. Maybe others have something else to say~

Just my two cents buddy. A bit disclosure. I am more or less in the same boat as you, having been in validation for market risk then derivatives pricing just a bit over 1yr in total.

 

[binomial-torrent]

having been in validation for market risk then derivatives pricing just a bit over 1yr in total.

I think a lot of the forum members would be curious as to how you switched from validation to front-office derivative pricing, care to elaborate?

 

[ZFL]

I think a lot of the forum members would be curious as to how you switched from validation to front-office derivative pricing, care to elaborate?

There is confusion. But, unfortunately I'm still in the model validation group. 1yr validating market risk models, now validating derivatives pricing models. This is kinda.. sad..

 

[Onegin]

business planning and analysis sounds like more of a COO kind of career path. running an investment firm / bank is different than conducting the activities that make the bank / firm money. Upshot is that you can still have a very exciting / worthwhile career.

 

[IntoDarkness]

noticed that model validation tends to be a good fit for work/life balance focused females...

 

[geoffreyzhao]

There is confusion. But, unfortunately I'm still in the model validation group. 1yr validating market risk models, now validating derivatives pricing models. This is kinda.. sad..

Thanks for the reply! Same here as 1yr fixed income models and commodity models validation. It was interested at the beginning though.

 

[geoffreyzhao]

business planning and analysis sounds like more of a COO kind of career path. running an investment firm / bank is different than conducting the activities that make the bank / firm money. Upshot is that you can still have a very exciting / worthwhile career.

Thank you! I was not too sure if there was a way up by just doing models. Started working with models since grad school, and I have been thinking whether I should make a change before it is too late.

 

[Onegin]

Thank you! I was not too sure if there was a way up by just doing models. Started working with models since grad school, and I have been thinking whether I should make a change before it is too late.

it's only too late if you're dead. other than that, it's a matter of prioritization and delayed gratification.