Was looking to get some info on IB corporate credit risk positions (divided by industry groups ie. TMT) compared to doing traditional LevFin or DCM debt facing roles. I know it varies by firm but are the skills still relevant for buy side roles? (Credit memos, underwriting/portfolio management of leveraged companies, being involved on the credit side of deals). Would being in the workout/distressed credit risk group be beneficial for RX/buy side exits? (Being on the creditor side). Any insight on corporate credit risk at BB's and exit ops would be greatly appreciated!
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I’ll weigh in as best I can. I’ll be honest, I think the internal bank risk skillset is largely about enforcing compliance with the banks rules and regulations which are largely a result of federal regulation. The senior risk officers are sharp and have a deep understanding of risk assessment but I think it’s a different skillset than being on the side of direct negotiation and marketing of a credit.
I have deep respect for the risk side and it can be a career, but I don’t think it beats front office in the actual creation and defending of underwriting, modeling, or deal execution.