Questions on Risk Management

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Hi,

I am a current student studying Math and Econ. After I graduate from my current school, I will be studying Operations Research two more years. I have been pursuing the actuarial field, but I also want to break into the finance industry at the same time.

1) I have passed two actuarial exams (P and FM) and will take the third one (MFE) in March that deals with options pricing (Black-Scholes, Ito calculus, delta hedging, etc). Would those exams be helpful if I want to get an internship in the risk management division within an investment bank?

2) I have heard that the FRM exams would be beneficial for the risk management team. If I wanna get an internship in the risk management division within a bank, should I take the FRM Part 1 or CFA level 1? How is the difficult of the FRM Part 1 compared to the actuarial exams?

3) What kinds of skills/qualities are desirable for the risk management?

4) I am taking an advanced econometrics class next semester where I will be learning SAS and maybe R. The final project in that class is to build an econometric model. What kinds of topics within investment/risk management would be good for the econometric modeling experience?

5) Do you have any other advice for recruiting?

Thank you very much.

 

[Ken Abbott]

1. Stat skills are very useful.
2. FRM is useless without experience.
3. Time series, database skills, multivariate, regression.
4. PM me. I have coached many of these.
5. Know the regulatory environment,