Thread by @SAH16928046

How can I start a career in #risk management in the financial services industry?
@GARP_Risk @PRMIA @RIMSorg @actuarynews @SOActuaries @CQFInstitute @CFAinstitute

I believe they are many degrees that can be a good value for money, provided you know where you would like to work in the long run.

In the developing world markets, employers still don't appreciate highly technical education in risk, actuarial sciences, financial engineering, quantitative economics, machine learning, etc.

For them, an #MBA is a be-all and an end-all troubleshooter.

I don't know much about the banking and financial market, in your country, but, I guess as financial products become more and more complex, the industry would require the services of Innovative Quants(with specialization in engineering or physics or computing ...

or the newly expounded subject of much curiosity that happens to be Analytics/Data Science and ML), #Actuaries, Quantitative Risk Managers, and Applied Mathematicians such as Financial Engineers.

Anyway, you should opt for a degree that teaches coding, provides a trading room asset simulation environment with access to #Reuters or #Bloomberg data terminals or any other platform.

It will be helpful if you can gain hands-on experience in operating Tensor flow, #Tableau, #Hadoop, #AZURE, #SPARK and other data science programming platforms.

Additional training in managing complex data sets using statistical and machine learning models is very useful.

#SQL coding is also very useful, especially when you are trying to undertake data retrieval based processes.

A sound risk management degree should balance technological training in basic IT / MIS Risk systems, computing languages, especially teach programming in R or any other DS supportive code writing, educate in the area of risk data systems engineering and cloud computing,

AI Artificial Intelligence-based Deep learning models used in #Risk and Financial Engineering, and blend all of that with academic theory used in quantitative economics, finance, actuarial sciences, financial engineering, and #insurance risk management.

Also, a risk degree should provide some training using #SAS.

Furthermore, it is important to learn a fourth-generation programming language such as #Python or the C Family, etc.

So choose wisely based on what I have written above.

Hence, it's better to do a degree in the following fields to foster career development in risk management or a closely related subject that requires analytical skillsets =>
1.PREDICTIVE ANALYTICS
2. BUSINESS ANALYTICS
3. FINANCIAL / RISK ANALYTICS
4. AI
5. MACHINE LEARNING

6. COMPUTATIONAL MATHEMATICAL FINANCE( FOR E.G. UCL UNIVERSITY COLLEGE LONDON PROGRAM)

7. MATHEMATICAL FINANCE WITH TRAINING IN MATLAB BASED PROGRAMMING OR CODE WRITING

9. ACTUARIAL SCIENCES ( FOR E.G. THE CITY UNIVERSITY LONDON) for the numerate student.

10. QUANTITATIVE RISK MANAGEMENT WHICH TEACHES PROGRAMMING WITH ML / DATA SCIENCE APPLICATIONS IN FINANCE AND / OR RISK.

I believe King's College, UCL, #LSE or other Lead Schools of UOL might be offering such a specialized degree.

11. Also, #Oxford University has #Mathematical #Finance and other related degree programs, that appear both updated in terms of theory, and academically intensive (not too sure if they teach data science or machine learning, but, you may check their website for further details.)

12. Also, have a look at the University of Groningen in the Netherlands and other Dutch Universities that offer similar or complementary degree programs.

Good Luck where ever you might end up!

I wish you success in your professional career.

The above question was put to me on @Quora by a student interested in doing a degree in Risk Management in the UK or nearby.
Hence, my reply is subject to a geographical constraint,& lots more can be said about the other global universities which are offering some novice programs

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