UK
Tag: Risk Manager
Late Lunchtime Links: Which UK banks to work for, which to avoid; UBS reverts to a tried and tested risk manager who was there when it lost lots of money in 2008
The Bank of England released a lengthy financial stability report this morning. Among other things, it calls on UK banks to ‘limit distributions’ (AKA bonuses) this year if, “earnings are insufficient to build capital levels.” It also advises that banks stop focusing on ROE, stop focusing on ROA and start focusing on leverage ratios, which [...]
And how much would the risk people at UBS have been earning?
Following on from our contemplation of Kweku’s compensation (around 370k?), it seems apposite to look at the compensation of the other players in the sorry affair: the risk managers. They were not earning nearly as much. We don’t know precisely how much UBS wafts in the direction of its risk professionals, but salary surveys and [...]
Risk managers need to choose American banks if they want authority, Europeans if they want a deep understanding of the issues
If you’re a risk manager working for a bank in Europe, the chances are that your day-to-day responsibilities differ from your counterparts in the US. But a general need to improve risk capabilities is changing the types of people firms are looking to recruit. In a broad-ranging report into banks’ post-crisis confidence levels, McKinsey suggests [...]
GUEST COMMENT: Why I’m giving up my financial services career aged 35
This year, I’ve decided: I’m stopping. And it’s not just another empty New Year’s resolution. My decision is final. No, I’m not retiring – unfortunately. However, after more than 10 years working on the buyside, I’m throwing in the towel. I’m leaving for a hotter continent to launch my own business, thousands of miles from [...]
Qualifications which are NEITHER the CFA nor the MBA, but could nevertheless boost your career
Here on eFinancialCareers, we write a lot about the CFA and the MBA. There is a reason for this: both are popular among financial services professionals looking to get ahead, and an MBA from a top business school may actually have the desired effect. However, there are innumerable other financial services-relevant qualifications out there. Not [...]
A risk manager is setting up his own hedge fund; this is not normal
Risk managers everywhere will be feeling encouraged by the fact that Gregg Weinstein, a former Goldman Sachs partner, is setting up his own hedge fund. Gregg (not to be confused with Boaz) had been a Goldman partner since 2002. In his most recent incarnation he was global head of risk management for Goldman Sachs Asset [...]
How to create an amazing CV if you work in market risk
The profile of the market risk professional has seldom been higher, and after teetering on the precipice of a boom for over a year, it seems the mooted recruitment is finally happening. “It’s been a buoyant couple of months for market risk professionals across a wide range of asset classes,” says Priya Mariannie, consultant, banking [...]
So what if that risk manager has Asperger’s?
Nassim Taleb, of Black Swan fame, appears to have got into trouble for implying that people with Asperger’s Syndrome shouldn’t be employed as risk managers. In Fooled By Randomness, Taleb suggests that people with the syndrome suffer from a kind of future blindness which inhibits their ability to judge risk properly. Taleb appears to have [...]
The risk recruitment myth
The theory is that with banks being forced to run a tighter ship, the expertise of risk managers has never been so much in demand. But is this really true? “While you might think that the role of risk manager has been elevated, in fact the opposite is the case,” says Christopher Whalen, managing director [...]
What, exactly, is wrong with my CV (5)?
After 20+ years of full time employment (largely with rating agencies), the start-up agency I was working for was suddenly closed in Jan. 2008. Since then, I have gotten some contract work but offers are getting less frequent now. I believe some of the CV issues I have are 1) too much time worked at [...]
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