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Question about Risk Management Job
Hello everybody,
I am a fresh graduate with a degree in economics and finance looking for credit/market risk analysis position. But after searching for weeks, I realized they don't usually take fresh grad as a start. I want to know is there any other job positions to take up first and learn the foundations of risk before breaking into the risk department in the future? Or any other ways to get into it. Hope you guys will be able to give some advices. Thank you very much. |
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Door want to do credit on the business side (front office) or on the risk mgt/quantitative side (middle office)?
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Your next best alternative is to go for risk positions in insurance, corporate finance in big co or boutique mgt consultancies. |
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Many of the roles however, in the context of a commercial bank, would be management or regulatory reporting, portfolio monitoring, policy, credit risk systems etc. which do not require a quant background. Often for these roles, banks are more open to hiring fresh grads. A possibility is to get hired into one of these roles and try for a transfer to a more quant role down the line, though I think some of these other more qualitative roles could be interesting in their own right... |
Hi, I have similar interest as well, just that I am more for credit risk. It appears they do hire ppl who were previously credit analysts for a few years. However, I've tried searching for firms hiring fresh graduates for credit analysts but none sadly. What are other roles (contract or not) are there that can eventually lead to credit risk roles? Thank you!
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actually companies will not hired fresh grad to do risk management job.
risk need to have experiences in relevant areas. there are still some risk position though but not those big MNC companies definitely. |
I was offered an interview by Maybank for this Credit Executive (Retail Credit) position. Want to ask if this job scope has got prospect to credit risk analyst in the future?
"You will be responsible for preparation for credit review and risk assessment analysis of various types of lending proposals for our clients. You will ensure credit quality and its compliance with credit policy and lending guidelines." |
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wait till they offer you this position then say la.. there many ppl out there want the job.. |
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TS: Not sure why this obsession to do risk management in a bank. Seeing that you don't even seem to know what a Credit Executive in retail banking does, it sounds like you have no idea about the banking industry in the first place.
You also never mention what your academic qualifications are except that you studied economics and finance, so I assume they are probably average at best. My advice to you is to cast your net wide and apply for as many jobs as you can. You are just wasting precious time by limiting your options that early and chances are it's only going to get tougher for you as most employers dislike people who cannot find a job too long. |
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You are late in the game already. If your degree is average honors from a local uni, start applying for BO and operations jobs in large numbers and maybe some of it will stick. If your degree is private type, then you are probably game over even for most BO jobs, the best you can hope for is general sales in consumer/corporate banking. That's the reality. Face it and don't further compound your unemployment by insisting on only applying for banking risk management jobs. |
what's the difference between a credit analyst in consumer or corporate banking and the risk analyst you guys are referring to?
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"I was offered an interview by Maybank for this Credit Executive (Retail Credit) position. Want to ask if this job scope has got prospect to credit risk analyst in the future?
"You will be responsible for preparation for credit review and risk assessment analysis of various types of lending proposals for our clients. You will ensure credit quality and its compliance with credit policy and lending guidelines." I'm on the S & T desk and it is pretty quiet today. All waiting for Yellen to speak the magic words. Anyway to answer your question, credit executive is just the guy who does credit review for new or existing bilateral/syndication. You will enjoy the job if you can write well and have a thing for looking at financial reports. |
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Hi Freshie,
What some folks here are speaking the truth albeit harsh words. You're a fresh grad without experiences and banks can't afford to hire you. Few reasons; too expensive, demand too much, lack of experience, cannot seat still and follow orders, challenging authorities etc. Start from commercial banking first, maybe sales role then internal hop or get out to other institutions, best is head-huntered! |
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Anyway I will heed your advices and continue to ask around to gain more insights, thanks a lot for your time. |
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This is pretty much a paper work driven administrative job. Every bank will have a standard list of documentation and checklist required depending on the type of lending products and loan amounts. The job is to solicit and document the required info and ensure compliance before giving the go ahead. Most cases are simple straight forward follow the rules, sometimes you get a few cases borderline or outside SOP then escalate to correct channel and wait for further instructions. From a certain POV you can call this risk management as well, but it's considered very low level and transactional sort of risk management. Think of your teller/relationship manager at your UOB branch, technically she is also a banker, but it's not the "right" kind that most people are referring to. |
Best Credit Repair Defense Mechanisms | Credit Control
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Firstly, I cannot afford an advice but may share my opinions. Only the respective banking HR function can provide advisory services. The world is cruel and we are elated that some forum members are willing to expose instead of sweet talking or mockery. Retail credit positions normally do TM on a remediation work but some folks prefer to call it operational aspects, which means the same thing. The typical mundane collection of documents (not limited to the above post), liaising with internal and cross-border rm etc., attending second tier meeting (instructions to be passed down after a long chain of workers) and more. No voice here just do it. And yes, you will report to the main "Retail Credit" team. What?! Yes, the ones who liaise with MAS etc. Your potential may be splilt up like going to risk modelling, quant stats or o advisory if you are deemed fit. A detour to MAS or likewise similar firms can secure better chances. A small speck of dust and wish you the best. There are simply so much more than 2-3 pages won't suffice. |
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What is the pay and progression that one can expect for such roles? Market risk reporting etc.
I assume a local uní fresh grad can get into bank with starting pay above 3.5k for such roles right? |
Hi, can you share with me how the interview goes?
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