Can anyone talk about the two?
I had one-year working experience in market risk on the banking side. I recently got my interests in investment risk at pension funds. Unfortunately, due to lack of experience in pension funds, I am never sure of the differences. I noticed that market risk (trading book) in banks and investment risk in pension funds share common job description (JD) keywords:
- portfolio risk reporting, compliance&limit monitoring;
- risk methodologies, analytics, research and modelling;
- liquidity, factor, counterparty, derivative and credit risks;
- proficiency in SQL, Python, MATLAB, VBA, SAS, C++ or equivalent;
I know that there are reporting&monitoring roles vs research&modelling&analytics roles, but
- what are differences between market making risks and portfolio management risks?
- risk management approaches noticeably different due to different asset class exposures, investment horizons?
- what are the exit opportunities as investment risk manager? e.g. market risk managers in banks possibly/maybe exit to traders.
- what are the pitfalls, if any, to avoid in the field of investment risk management in pension funds?
Hope to hear your opinions. Thanks.
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