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Careeer advise in credit risk management

Hi, I am on the odd side of 30 (35 to be precise) and currently into IT. I am interested in a career in Risk Management (Credit Risk). 1. Does it make sense to take a switch at such a late age 2. Will a masters in finance/statistics help land the credit risk jobs. The reason why I mention stats is because i have seen ppl with stats background entering the risk analytics area and eventually into risk management

Asked by mrahul2001

Posted in Switching Sectors and Credit

04 Nov 2008

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Answers (2)

  • Age should not be an issue. Timing may be - as businesses lines close and clients disappear, Credit Risk lay people off too. (I am answering assuming you mean in the wholesale markets). Regarding a qualification, getting such a Masters can only help, but the extent of that really depends what you want to do in Credit Risk. If you want to be a Credit Officer, then you need to understand fundamental analysis - balance sheets etc, and understand the transactions that clients do - a CFA might be a better way in. Maths and stats is, in general, more for the market risk side (although they are getting closer together as CR uses more models for counterparty exposure). Also Credit Risk functions tend to have a lot of IT/process issues and many people dealing with them - that may be a better route in.

    SeniorRiskController 07 Nov 2008

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  • well its better to have the IT job rather than the credit risk one as of now , since the finance job mkt is terrible , layoffs etc , competition frm laid off risk mgmt workers , A MBA in finance would def help and brighten your chances looking at the fact that you have IT skills as well as understand the concepts of Risk Mgmt but in this economy its hard to predict....whether it may or may not lead you to a job in Risk Mgmt even after an MBA...

    mkIT 15 Dec 2008

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