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CommodityQuant
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Posts: 57
Joined: July 5th, 2007, 6:16 am

Stress testing.

January 4th, 2017, 6:25 pm

[font=Verdana]I'm in the middle of a process for what seems a fairly standard quant dev job for a London bank.[/font][font=Courier New] [/font]
[color=#000000][font=Verdana, serif]Listed among the job requirements are "[/font][/color][color=#000000][font=Verdana, serif]Regulatory experience in CCAR/PRA stress testing or IFRS9 impairments."[/font][/color]

[color=#000000][color=#000000][font=Verdana, serif]I don't have this regulatory experience, and nothing on my CV/resume, or comments in previous interviews, would suggest that I do[/font][/color][/color]
[color=#000000][color=#000000][font=Verdana, serif]have this type of knowledge, but this hasn't been an obstacle so far. [/font][/color][/color]

[color=#000000][color=#000000][font=Verdana, serif]Is there any last-minute prep, I can and should do, in case this subject matter comes up?  I have found out what all these sets of initials stand [/font][/color][/color][color=#000000][font=Verdana, serif]for, but that's all I've done so far.[/font][/color]

[color=#000000][font=Verdana, serif]Many thanks for your advice and support.[/font][/color]

[color=#000000][font=Verdana, serif]CommodityQuant[/font][/color]
 
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outrun
Posts: 4573
Joined: January 1st, 1970, 12:00 am

Re: Stress testing.

January 4th, 2017, 6:57 pm

IMO you shouldn't take the job if you are going to be responsible for the reporting without anyone to guide you thought it. It's a large volume of text, often open for interpretation that requires time to get acquainted and comfortable with. I compare it to becoming a defense lawyer, you start out with reading the lawbooks. Regulatory reporting is also serious business, you can't make mistakes. The IFRS9 deadline start in 2018 and I guess that's why they are hiring (late) people to help them implement it (many banks do): they are probably looking for someone to solve their looming problems.