I am currently working for a BB supporting traders and would like to do something more market-oriented in my next role (maybe quantitative research / risk modelling ). I have a quantitative educational background but do not have much quant experience other than an internship in a HF shop. I was wondering how to start to make a transition of career. what kind of company should I look to talk to given my experience? Any advice will be appreciated.
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My initial reaction (and two cents) is to talk to your current firm about the switch.
Speak with mgmt. If they value you as an asset they'll help you, or atleast try to help you.
Your best bet is internally, although as you'd imagine many people try to make this move. Networking is your best bet.
Start studying for Level 1 TODAY. I decided to take L1 this week last year and passed. You're not too late but you'll have to get after it from the get go and May will be a brutal month.
I'm in a similar situation to you. I started at a BB in product controls and moved to a smaller firm for the broader scope of the work and the better possibility of an internal transition. It will not hurt to ask around internally but don't be reckless about it because you never want to give off the impression that you hate what you do-- but you will not move if you do not ask.
I'm advocating the CFA exam for several reasons. Obviously it's well respected. But also it SHOWS that you're motivated and can be a real asset in your job search. You may not wow anyone just by signing up for Level 1 and talking about it as you network, but your search from the BO to the FO (I guess risk is more MO) likely won't be short. It's not too late to start the process that over time will greatly increase your chances. The CFA charter is also a great compliment to either research or risk.
Thanks for the advice @slick_j. I think we are in a very similar situation. Can I ask how do you like you new position at a smaller firm? As you mentioned the reason I am hesitated to ask around in my company is just to avoid the impression that I dislike what I am doing now.
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