BNY Mellon Credit Risk Anlayst-first year they are having an analyst class-opinion?
So BNY Mellon decided they were going to hire first year analysts and have a formal 2-3 month credit training program. The title is "Credit Risk Analyst" and there will be between 10 and 30 kids in the class from my understanding you get significant responsibility in terms of meeting with the chief risk officer and speaking with treasurers and CFO's of major companies (of course after a year or so) so some client interaction is possible, since the teams are so small. You are also only dealing with f500 and f100 global companies and dealing with tens or possibly a hundred millions of dollars plus at a single transaction. There is also no credit council that decides if the credit gets approved just signatures required. The teams get split up into sector groups as well so there is a level of expertise that you may develop.
what do you guys think about using this two lateral to IB in a few years with the credit training? getting an MBA afterwards? the experience in general? BNY rep?
BNY is a great company. But they do things a lot differently then most of the other big banks. It doesnt have the glitz and glamour of some other banks, but what you learn and the work ethic you develop will pay its dividends down the line big time
Yea, position is in pittsburgh though. What is your opinion on lateraling to some ib spot or something in NYC after 6 months to a year after I have some experience? I just graduated and have been on a lot of interviews but the fact i have never worked in finance gets me every time.
anyone?
lol come on someone has to know something!
I just got an offer from BNY Mellon for the credit risk analyst training program. I'm from the Philadelphia area and was looking for something in either Philly or NYC, so I'm not thrilled about have to relocate to Pittsburgh. However, I've been doing some research and Pittsburgh seems like the pretty good place to give. It was just voted the most livable city in the US by a few different magazines and the cost of living is lower than the national average. Like you, I'm not sure that I want to work for the company for the long term. I also did not have any finance experience but they made me an offer and I just can't pass it up at this point. I've also heard that credit risk can be an excellent path into IB, which is where I ultimately would like to end up. I've accepted the position and I start March 1. My plan right now is to give it a shot, pass the 12 week training program and see what it's like when I'm brought in full time. If I don't like it after 9-12 months, I'll start applying other places and try to find something else. At the very least I'll have a respectable job with a decent starting salary and I'll be gaining experience that I can put on a resume and use as leverage for a better position elsewhere. It sounds like an awesome program and I've heard good things about it. You could do worse for a first job right out of college. Hope this helps.
Are they still hiring?
I'm not sure if they are or not. All I know is that I don't plan on working there very long. From everything I've read, promotions and salary increases are almost nonexistent. I'm just trying to get some experience and move on to something better.
Got it. Sounds like a great opportunity to learn about credit research though, might open doors for future opportunities in the credit space.
In your opinion, is it more towards risk or credit research? Thanks!
I believe this position is in Pittsburg only, couldn't find one for NY..
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