Risk Management to Portfolio Management?
I have an offer from a Top 10 asset manager in their Infra PE arm in the Private Market Risk group.
My end ambition would be to become a portfolio manager. Obviously risk is a good asset to have for a PM, but this role is more focused on investment risk (I.e. country & market assessments, stress testing, investment policies)
Is it possible to work in this area, get an FRM or CAIA, and then move into portfolio management? Or is moving in this area going to keep me in mid/back office for the rest of my career?
This depends on the firm. If the portfolio manager is supposed to have a large say in existing and new investment decisions (not necessarily from a risk perspective, but from an investment philosophy (soft/qualitative) perspective) the chances are low. However, I have seen firms where investment decisions are primarily done by investment committees or seniors and the PM is simply there to voice his opinion regarding investment capacity and risk measures and monitor ongoing investments. In such a case a switch from risk to portfolio manager is possible.
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