Stuck in Corporate Credit Risk
I joined Corporate Credit Risk 2 years ago given that I did not come from a finance background, and thought it could be good a way to get my foot on the door. But I now realize the more time I spend here the harder it gets to move to a more FO role. Any advice ?
Ah, the classic pivot dilemma! Based on the most helpful WSO content, it seems like you're not alone in this. Many have found themselves in a similar situation and have successfully made the transition. Here are a few steps you might consider:
Continue with your CFA: This is a great way to demonstrate your commitment to finance and your ability to handle complex financial concepts. It's highly respected in the industry and can open doors.
Network, network, network: Even if you can't meet the FO guys face-to-face, there are other ways to network. Consider reaching out via LinkedIn or through mutual connections. Also, don't underestimate the power of internal networking. Getting to know people in different departments can lead to opportunities you might not have considered.
Consider a move to the middle office: According to some WSO threads, a move to a middle office role like Market Risk could be a stepping stone to the front office. It's closer to the action and might give you the exposure you need to make the final leap to FO.
Keep learning and improving your skills: The more you can demonstrate your understanding of the FO role and its requirements, the better. This could be through additional study, taking on relevant projects at work, or even attending industry events and seminars.
Remember, it's not an easy path, but with determination and a strategic approach, it's definitely possible. Keep swinging from branch to branch, and you'll get there!
Sources: Move from back office to middle office to front office, London Advice on current situation and transition to IBD/S&T, The best of the back (or middle) office?
Need more details to provide any kind of advice.
What does "corporate credit risk" mean in your institution?
What kind of institution and size?
Have you not had this discussion with your manager during the last 2 years?
What skill set have you built up during that time?
Do you interact with any FO or MO folks now?
It s considered a MO role. Every lending transaction (mainly LBO financing) is done together with the FO (the origination team) and us in credit. So we cover the credit analysis of the counterpart and review the whole memo including the modell assumptions, which we challenge. The bank is a BB (think MS, JP, Citi, CS ecc). In terms of skillset, the job requires a more general understanding of each part but nothing too much in detail. Hope this helps
I came from counterparty credit risk at a corporate before moving into CB at a CIB bank. You can definitely transition over but the lateral market isn’t too hot at the moment. I would recommend getting your resume locked and loaded and jump at the lateral postings when they come up if you’re interested in CB.
CB = Commercial Banking?
Corporate
Quibusdam sint sint porro quo. Accusantium corporis illo illum qui molestiae sint quo dolores.
Minus doloremque perferendis quod quia dolorum harum sint. Magni cumque fugiat sed cum suscipit dolore quos. Sapiente corporis qui recusandae nisi minima. Qui reiciendis voluptates sequi id. Molestiae sequi voluptatum molestias quaerat nihil. Error ut dolores voluptatibus beatae quia. Non impedit facere non nemo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...