Market Risk at investment bank to actuarial work

[karya]

Hi,

I currently work at an investment bank within Market Risk in London and I'm looking to change careers. I'm considering doing the actuarial exams, and possibly getting a role on the investment/risk side as that would fit well with my work experience.

One of the reason for the change is that career progression/development where I am seems to be very limited at least for me, and I think this is the case in most banking/finance roles which dont require a professional qualification. The work tends to be repetitive and not that challenging while promotions tend to go to those who are more outgoing/shout the loudest, which doesn't really suit my personality.

I believe I get a number of exemptions as I have done the CFA exams. Additionally I have Msc. in Finance and Economics from LSE which may/may not help.

One concern I have is that I'm 33 now so maybe a little to old to start down this path.

I was just seeking any advice on how easy it would be for me to transition and land a job. Also, what kind of pay would I expect and where should I start looking. Any other advice/opinion would be much appreciated

 

[Hobbs]

One concern I have is that I'm 33 now so maybe a little to old to start down this path.

Yeah. Might as well just give up and start stocking up on adult diapers at this point.

The studying will be hard work if you have lots of kids and other hangers-on underfoot.

 

[waddle]

Why?

Market risk role sounds like a perfectly actuarial type role. Especially with the CFA I'm sure you would be as good at the job as an actuary so there is no incentive for you to get a FIFA unless you have something very specific in mind, other than market risk, that you really want to do and sacrifice good part of your life sitting exams.
I suggest you try talking to the actuarial recruiter who might be able to identify what you want and what you can do.

 

[vikky]

Hi..My two pennies..If u are a CFA u would get a number of exemptions...CT 1 2 3 7 8 and ST0 ..out of 15 you are already 6 down...out of 9 remaining 3 are courses..so u have 6 to write and clear...go for it..am sure any investments team out there would love to have u on board...I dont think age is a problem..
Cheers
PS-D only downside..salaries are probably not as lucrative as Investment Banking.

 

[karya]

Thanks a lot for the responses.

I'm going to contact a few recruiters to see what kind of roles are out there, and where I could possibly start off.

 

[ajhardy]

Karya,

I used to work in investment banking, switched to actuarial at 35 with two kids and in one year am on track to pass 6 exams (at least the last 3 just sat all went well so that's what I'm expecting).

I have 2 exemptions (from my degree at LSE as well!) so I should have the full CTs. I'm also part way through the Chartered Alternative Investments Analyst exam which gives you a ST0 pass.

I tried talking to recruiters before I applied to actuarial recruiters and none of them could give me any advice on getting into the profession as most firms do their own entry-level recruitment. In the end that was the route I took and am now on the graduate scheme!

The pay will be a major thing coming from IB, but the hours are probably at most two-thirds of what you are used to. Everyone in my office is out by 5:30pm latest!