Switching from Operations to Finance

I'm looking for advice on how to jump from an operational side of banking to a more finance-related side of banking.

For some background, I had been working as an analyst for the 'strategy' side of my CB. This basically meant that we keep track of key indicators (think if we had to get X$ this month from our loan payments but instead we got Y$), do research and special projects to find what is going on and then suggest action plans to tackle problems. Thing is we can only make operational decisions i.e. I can tell employees what to do but I can't actually make any money change hands. Neither can my superiors.

I've done well during COVID and finally got a promotion to a key hierarchical position. Thing is that in this hierarchy I could basically double my income by just changing to a finance-related position. I also think that changing departments in the next 2 years would be way easier than jumping to the next hierarchy so I've made my decision. For the next 2 years I need to push as hard as I can to get into finance.

Right now I'm thinking of doing the FRM. I know of some VPs in the asset management side of our bank who are certified FRMs. In terms of numbers there are way more CFAs but I think that the FRM pairs better with my educational background (BSc in Mathematics). However this is my naive plan as an outsider. The areas I'm targetting are

As they would all result in a significant pay bump. Hopefully I can get some advice from people in these areas regarding an efficient plan and my odds given my background.

 

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