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hateeque
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Posts: 21
Joined: October 7th, 2004, 2:43 pm

Desk Developer or Market Risk?

September 10th, 2007, 12:17 pm

Hi ... which one of the above is more likely to have you end up in a front office role in the future? what kind of progression is there for desk developers (excel / vba)? assuming you're starting from scratch in either, which is more fun in terms of analytical challenge?
 
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hateeque
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Posts: 21
Joined: October 7th, 2004, 2:43 pm

Desk Developer or Market Risk?

September 10th, 2007, 12:37 pm

apologies for not specifying the product/asset class....its credit derivatives for desk development and IR derivatives for market risk...any comments will b much appreciated!
 
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Wilfrid
Posts: 524
Joined: July 19th, 2007, 11:52 am

Desk Developer or Market Risk?

September 10th, 2007, 1:47 pm

Have you considered becoming an actor instead. It is awfully good fun, what?
I learned two things at drama school. First, that I couldn't act; second, that it didn't matter.
 
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DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Desk Developer or Market Risk?

September 10th, 2007, 8:23 pm

I'd need more info than this to say anything useful.The right role in wither can be great, the wrong role dreadful.Some risk is highly analytical and you will learn lots of about the business, and enjoy a decent career path.Some risk is baby sitting a set of crap risk reporting spreadsheets in a dark corner of a dull bank.Some Desk Developers are in effect trainee traders, and will have as much business knowledge shoved down their throat as they can handle.Others just debug sheets without anyone really explaining what they are for, and the only feedback you get is complaints about the time taken.If you held a gun to my head and say "choose", I'd pick the one closer to the money, ie desk developer.As a very broad guide, mid office jobs often specify they'd like a bit of front office experience far more often than front office ask for mid office.
 
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hateeque
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Posts: 21
Joined: October 7th, 2004, 2:43 pm

Desk Developer or Market Risk?

September 10th, 2007, 8:55 pm

Thanks!The role in risk is at a very junior level and thus involves reporting VaR numbers and stress-testing as the primary responsibilities for the initial 12-18 month period. Long-term wise it promises to hold a steep career path as it offers a broad expsoure to the product spectrum.Whereas the desk developer role involves coding primarily in VBA and to a lesser extent in C# for a credit derivatives (mainly CDS, CLNs, High Yields) desk. Its a very hands-on IT team with constant interaction with the desk. Can you also shed some light over both in terms of longer term job security please? Much appreciated!
Last edited by hateeque on September 9th, 2007, 10:00 pm, edited 1 time in total.
 
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DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Desk Developer or Market Risk?

September 12th, 2007, 2:47 pm

Up front, I have to say I don't do advice on job security for a given job.Security is far more determined by you, and what you do than choice of roles.A big factor I don't have for this, is any real grasp of where your talents lie...Although I can't model the risk too well, the return on the FO Dev job is probably higher.When you met the traders, did they seem approachable ?Importat factor, if they help you learn it is the far better job, if they don't you're a servant.
 
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DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Desk Developer or Market Risk?

September 12th, 2007, 2:48 pm

Up front, I have to say I don't do advice on job security for a given job.Security is far more determined by you, and what you do than choice of roles.A big factor I don't have for this, is any real grasp of where your talents lie...Although I can't model the risk too well, the return on the FO Dev job is probably higher.When you met the traders, did they seem approachable ?Importat factor, if they help you learn it is the far better job, if they don't you're a servant.
 
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Hinstings
Posts: 285
Joined: November 28th, 2005, 8:39 pm

Desk Developer or Market Risk?

February 20th, 2008, 5:51 pm

QuoteOriginally posted by: DCFCI'd need more info than this to say anything useful.The right role in wither can be great, the wrong role dreadful.Some risk is highly analytical and you will learn lots of about the business, and enjoy a decent career path.Some risk is baby sitting a set of crap risk reporting spreadsheets in a dark corner of a dull bank..I'm currently having an interview with a hedge fund for a risk analyst position. They asked a lot of C++ programming skills. But when I asked them about the job responsibility, there is no clear-cut answer. So what do you infer from the fact that a lot of C++ questions were asked?
 
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DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

Desk Developer or Market Risk?

February 20th, 2008, 7:19 pm

I'm currently having an interview with a hedge fund for a risk analyst position. They asked a lot of C++ programming skills. But when I asked them about the job responsibility, there is no clear-cut answerDoesn't sound so good, does it ?But HFs are by their nature less rigid about what you actually do, and the C++ questions may simply reflect the fact that they've found a lot of people lacking in C++ skills, or simplybecause that happened to be what they felt like asking.But combined with their vagueness, and apparent lack of questions directly relevant to risk, it's worth asking next time questions like who you will be working with, and who you would be reporting to.It may be that they want a quant developer to write risk management s/w, is that what you want to do ?
 
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Hinstings
Posts: 285
Joined: November 28th, 2005, 8:39 pm

Desk Developer or Market Risk?

February 20th, 2008, 7:24 pm

QuoteOriginally posted by: DCFCI'm currently having an interview with a hedge fund for a risk analyst position. They asked a lot of C++ programming skills. But when I asked them about the job responsibility, there is no clear-cut answerDoesn't sound so good, does it ?It may be that they want a quant developer to write risk management s/w, is that what you want to do ?That's the last thing that I will do unless I cannot find anything else.
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