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I think I left it too late ...

Posted: September 17th, 2011, 9:01 am
by Alkmene
Having worked for 10+ years in always quanty roles but not always in banking, I am now in a position where I have done my time in the back office, with finance and a mathematical degree, both at M level. Mid to late 30ies is now too late for a trading role, is that right? I have experience with IR, loads of quant models, quite good at the usual stuff (martingale pricing, IR models, vol models etc) but not at FO quant level. Mostly supporting on structured trades quant issues.Anyone out there who thinks that I can still score a trading role? How would I go about it?Thanks and don't be too harsh; I am depressed already :-/Alk

I think I left it too late ...

Posted: September 17th, 2011, 8:43 pm
by QuantOrDie
What have you been doing in the BO? "Supporting on structured trades quant issues" seems vague. Were you doing risk? Regulatory? Tech? Ops? Risk is probably best to move to a trading role.However, you are probably too old, and it doesn't sound like you have much more relevant experience than a 2nd year analyst trader does. Not trying to be too harsh, just realistic. Why do you want to move to trading? Higher risk with lower reward, given where you're probably at right now.

I think I left it too late ...

Posted: September 17th, 2011, 9:56 pm
by Alkmene
QuoteOriginally posted by: QuantOrDieWhat have you been doing in the BO? "Supporting on structured trades quant issues" seems vague. Were you doing risk? Regulatory? Tech? Ops? Risk is probably best to move to a trading role.However, you are probably too old, and it doesn't sound like you have much more relevant experience than a 2nd year analyst trader does. Not trying to be too harsh, just realistic. Why do you want to move to trading? Higher risk with lower reward, given where you're probably at right now.Thanks for the reply.The terminology for what I am doing is vague but mainly doing back office quant support for product risk and product control. Example, to make it clear: BO high wing Vol surface interpolation/extrapolation schemes with arb free conditioning, Local vol testing for stoch vol models, full understanding of FO quant models for BO support, calibration of any kind of model to market, etc. I know that it is not the bog standard job but that's part of why I am asking on the forum.What is the relevant experience that one can get in the BO? I do observe that the floor guys do have quite limited understanding of building surfaces, ir models etc. I do appreciate that they are the customer and consumer, not necessarely the theoretical experts. But I do think that my constant theoretical AND practical dealing with those issues could be used as leverage?Anyway, pipe dream, I know.For why I want to do it? What else is there to do? BO quants have nowhere to go. Dead end. And I do know the BO very well. So I am not after any tips on BO.Higher risk less reward? I am at a stage where I can take risks at work as it won't influence my private life/accumulated wealth. I will never be an Fo quant, can't sing or paint, what else is there?Thanks for any other views,Alk

I think I left it too late ...

Posted: September 17th, 2011, 11:22 pm
by QuantOrDie
QuoteOriginally posted by: AlkmeneThe terminology for what I am doing is vague but mainly doing back office quant support for product risk and product control. Example, to make it clear: BO high wing Vol surface interpolation/extrapolation schemes with arb free conditioning, Local vol testing for stoch vol models, full understanding of FO quant models for BO support, calibration of any kind of model to market, etc. I know that it is not the bog standard job but that's part of why I am asking on the forum.OK, I understand what you do now.QuoteI will never be an Fo quantWhy not? Your background is much closer to FO quant than it is to trader.

I think I left it too late ...

Posted: September 18th, 2011, 10:44 am
by spv205
agree with qod that FOQuant is better fit. The other suggestion is model validation/exotic risk manager role. model val teams tend to be bigger, so you can be doing more management etc, go up the career ladder.Your only chance getting in to FO trading is really to start talking to traders at your bank ( you won't get hired elsewhere). offer to help out on reports etc.as qod said - are you sure you want to do it? Talking to exotics traders I know, in these times there is little new business and so its mainly just risk managing the unhedgeable- ie you are just waiting powerlessly for another extreme market move to lose you money.