Career progression for risk management related position

Anyone from these two areas?

It seems to be a pretty niche risk management area and normally FIs hire only experienced people to fill the positions. Do their annual income go above 100k?

Originally Posted by Unregistered

Anyone from these two areas?

It seems to be a pretty niche risk management area and normally FIs hire only experienced people to fill the positions. Do their annual income go above 100k?

Business Continuity Planning is not usually not considered part of risk management department in a bank, probably part of estate and facility management department. For foreign banks, probably at most 2-3 people are in BCP. Pay is not as high as risk management.

Operational risk is quite niche, and usually op risk people used to work in many years in operations, support or audit in the bank, it is not very technical role but requires strong organisational skills, and able to build strong partnership with all level of people in the bank. Paywise has been going up due to shortage of such staff. VP can reach 180k/year

Originally Posted by Unregistered

Business Continuity Planning is not usually not considered part of risk management department in a bank, probably part of estate and facility management department. For foreign banks, probably at most 2-3 people are in BCP. Pay is not as high as risk management.

Operational risk is quite niche, and usually op risk people used to work in many years in operations, support or audit in the bank, it is not very technical role but requires strong organisational skills, and able to build strong partnership with all level of people in the bank. Paywise has been going up due to shortage of such staff. VP can reach 180k/year

Hmm... so based on what you know, how do someone get into operational risk (entry level)?

The thing is banks are always looking for experienced people to fill up these positions but if there are no entry level positions available, where do all these experienced people come from?

Originally Posted by Unregistered

My numbers are very much for foreign banks. You can go and check with head hunters if you dont believe. IB now are not like pre IFC days. Cost cutting pressure are all over the place and banks are resorting to do offshoring to cheaper location like bangalore and manila. For local banks, there are nothing to risk manage, products are linear and it is more towards regulatory reporting rather than asking traders to cut position. I have been to both local and foreign. It is crap in local banks especially the management. Their JD is always misleading and their system cant even do a proper pricing let alone displaying delta,gamma and vega risk. The best part is that they cant even relate pnl movement with respect to risk change. What a joke!

Ditto ! Well said

Anyone know the salary range to mkt risk mgr? Typically avp/vp range.

Originally Posted by Unregistered

Anyone know the salary range to mkt risk mgr? Typically avp/vp range.

Ard 200-240k base for vp in foreign bank + 6-9 month bonus
130k for avp

Originally Posted by Unregistered

Ard 200-240k base for vp in foreign bank + 6-9 month bonus
130k for avp

This salary range is only for top tier banks, just go and read

And how much would the risk people at UBS have beenearning? | Job news & advice | eFinancialCareers

Anyone knows what's the starting salary for market risk analyst with no exp (fresh grad) in bulge bracket banks and mid-tier banks?

Thx in advance

Originally Posted by Unregistered

Anyone knows what's the starting salary for market risk analyst with no exp (fresh grad) in bulge bracket banks and mid-tier banks?

Thx in advance

Starting Associate position should be 4.8k for local banks and 8k for top investment banks, any bank in between should be around 5-7k.

Originally Posted by Unregistered

Starting Associate position should be 4.8k for local banks and 8k for top investment banks, any bank in between should be around 5-7k.

Many graduates don't even make 8k ever.