Career Prospects for Risk Quants

[l_l_c_p]

Currently I am working as a model risk quant in a big bank after completing my Quant Finance degree from a 10-to-20 ranked (Quantnet ranking) program . I have been in this role for 5 years and responsible for validation, assessment, developmental testing, and documentation of all risk models.

Even though my job is quantitative in nature, but its more regulatory focused and involves testing and validation of models, writing reports and is not so intensive on coding either. So, from time to time, I feel insignificant and fear maybe I will lack some quantitative/coding skills in the long run and may get stereotyped with no prospect but to settle in quant risk with an average to above-average pay for days to come.

Instead, I would like to do more hands-on work or quant research, may be in a front office setup in a bank or hedge fund which are difficult to come by for a non-Phd and non-CS person like me but is very rewarding in every sense. So I plan to leverage my experience to try out quant development and analytics or software focused Machine Learning roles in pure-play tech industry that probably can provide a better ladder to break into front office roles.

I do not know where to start since I have no SDLC experience, what are my chances? Any suggestions, thoughts, or advices? All are welcome. :D. Sorry for the lengthy post.

 

[PepeQuant]

I feel you OP. Here is a great place to start:

LeetCode - The World's Leading Online Programming Learning Platform

Level up your coding skills and quickly land a job. This is the best place to expand your knowledge and get prepared for your next interview.

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Learn C++ – Skill up with our free tutorials

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Hope you get what you want! Enjoy the process.

 

[l_l_c_p]

I feel you OP. Here is a great place to start:

LeetCode - The World's Leading Online Programming Learning Platform

Level up your coding skills and quickly land a job. This is the best place to expand your knowledge and get prepared for your next interview.

leetcode.com

Learn C++ – Skill up with our free tutorials

www.learncpp.com

Hope you get what you want! Enjoy the process.

Thank you for the response and suggesting me the preparation sites. While I do understand that I can try out for SDE roles, but I also do not want to null my 5 years of experience and probably the quant finance degree. So was thinking of switching to a more appropriate role like Quant dev etc. Idk what are my chances, and prospects. I think its worth trying, and only time will tell how it unfolds. Thanks

 

[MLV]

Would you say that thinking only about "appropriate" roles, or not wanting to "null" your experience and degree meaningfully limiting your options? I mean, have you considered any roles that are unrelated to quant topics?

Similarly, I started in risk management feeling like I didn't add any value to my firm. Eventually, I decided to interview around for other quant-ish roles - I interviewed for a few roles than didn't really check all the boxes for me and when I finally got an offer from another bank, I said thanks but no thanks because I was just no certain about the move. After some introspection I realized I wanted to pursue a different role altogether, so I started to network with people across the industry. After a few months I landed a job in Investment Banking, and left behind the "quant" roles with little-to-no-regrets. I still think doing an MFE (and a master's in math) was the right path for me because it opened the door to getting into a big bank, and because studying mathematics really enhanced my reasoning - which has been very useful to me over the years.

Just my 2 cents.

 

[PepeQuant]

Thank you for the response and suggesting me the preparation sites. While I do understand that I can try out for SDE roles, but I also do not want to null my 5 years of experience and probably the quant finance degree. So was thinking of switching to a more appropriate role like Quant dev etc. Idk what are my chances, and prospects. I think its worth trying, and only time will tell how it unfolds. Thanks

Why would that nullify your 5 years of exp and quant finance degree? These are very relevant for FO quant roles lol.

 

[l_l_c_p]

Would you say that thinking only about "appropriate" roles, or not wanting to "null" your experience and degree meaningfully limiting your options? I mean, have you considered any roles that are unrelated to quant topics?

Similarly, I started in risk management feeling like I didn't add any value to my firm. Eventually, I decided to interview around for other quant-ish roles - I interviewed for a few roles than didn't really check all the boxes for me and when I finally got an offer from another bank, I said thanks but no thanks because I was just no certain about the move. After some introspection I realized I wanted to pursue a different role altogether, so I started to network with people across the industry. After a few months I landed a job in Investment Banking, and left behind the "quant" roles with little-to-no-regrets. I still think doing an MFE (and a master's in math) was the right path for me because it opened the door to getting into a big bank, and because studying mathematics really enhanced my reasoning - which has been very useful to me over the years.

Just my 2 cents.

I have not considered any roles that are not quant-ish but I get what you are referring to.

 

[l_l_c_p]

Why would that nullify your 5 years of exp and quant finance degree? These are very relevant for FO quant roles lol.

I thought you were referring to pure software engineering tech roles. Yes, for the FO roles my background would be useful. But for transitioning into FO there is some additional work to be done thats what I have learnt lately.