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Market Risk at investment bank to actuarial work

K

karya

Member
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
 
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.
 
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.
 
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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.
 
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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.
 
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!
 
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