Career Direction - Model Validation

[meadow]

I've recently been assigned a position in Model Validation. What skills will this experience develop and where can I go moving forward? I have a Bachelors degree and don't intend (at the moment) on getting any higher level degrees. Will this job be challenging?

Thanks!

 

[Ken Abbott]

In model validation you are likely to see many different kinds of models, including pricing models, risk models , revenue models, and stress models. There is a lot of demand for model validators.

 

[Dexpert]

I currently work in a model val role and have a bachelors' degree like yourself ( a bit more experience though) . It is fairly interesting, you will start on more "simpler" models and will be gradually moved to more complex models depending on your asset class, in beginning your programming skills will be more handy but gradually you will have to start reading about Stochastic and Vector calculus. You can make your mind about the masters degree in a few years time if you find that this is not your cup of tea. Prepare to be challenged by PhDs for more senior roles who will not only know the math but some more

Rates, Counterparty Credit Risk roles are more in demand, Structured Credit is making a slow come back but any experience in CCR can be leveraged for future Structured Credit Roles so you can plan your progression with this in mind. I gather that Structured Equity is fairly quantitative and is a fast growing field hopefully some senior members can add more details on that front.

Get hold of Numerical Recipes its a must have book regardless of which desk you work with.