The job market in risk management is heating up as more people try to break into an increasingly important area. Along with getting your risk cover letter up to scratch, your risk resume is your chance to secure an early edge over the competition. Here are some expert tips for creating the perfect risk management CV.
Relate your regulatory achievements in your risk resume
Careers in risk are increasingly driven by current and upcoming financial regulations, so demonstrate your regulatory achievements throughout your resume. “As there are more regulatory pressures across the risk market, you should clearly articulate any new developments and projects you have been involved in, such as IFRS9 or FRTB,” says Pratik Peshavaria, manager, risk, at Hays Financial Markets. “This will make your CV more attractive to banks seeking to develop their current risk frameworks to ensure they are meeting market standards.”
And your relations with regulators
Do you have any direct contact with regulatory authorities? If so, spell them out and explain how you successfully fostered them to the benefit of your bank. “Experience with regulators is a big plus and is looked upon favourably, especially in the current environment,” says Barbara Cochrane, a director at Profile Search & Selection.
Show off your internal connections in your risk resume
The risk function is now integral to the running of the entire bank, so risk jobs demand the ability to deal with colleagues across almost all departments. The reader of your risk management resume will want to see that you’re a good communicator and that you understand the needs of other divisions. Cochrane recommends listing the internal stakeholders you were in contact with at each job in order to show that you can build strong internal relationships.
Especially if they’re senior
Banks are keen to see senior management interaction on your CV – especially if the risk job on offer requires working with the front office. Include the precise rank (director, MD or department head, for example) of the senior stakeholders you’ve dealt with. “Also note your reporting line to show your own seniority – did you report to operations or to the chief risk officer? It shows where you stand in the bank,” says Cochrane.
Don’t forget your responsibilities on your risk CV
As in all jobs, your risk CV should be focused on what you’ve achieved in each role. However, given the varied and changing nature of risk management jobs, you still need to briefly describe your main responsibilities. Peshavaria explains: “The risk market has many layers that affect how banks operate, so being specific about your roles makes it easier for hiring managers to understand your day-to-day responsibilities, for example whether you were first, second or third line of defence.”
Be specific about your software skills
“Clearly state your proficiency with the various risk-based software systems and models used within the banking industry,” says Peshavaria. “This is because banks are now increasingly seeking candidates with specific system skills, to help them drive their risk models and meet new regulatory requirements.”
Don’t bury your qualifications
“Studying the FRM, CFA or a certification in operational risk, for example, will give you a competitive edge as the risk job market is competitive,” says Peshavaria. “But add your qualifications and certificates with your university degrees, not buried in your CV. If you put them somewhere else they may get lost,” says Cochrane.
The rules above cover all risk management jobs, but the following tips only apply to specific areas of expertise.
Credit risk: get detailed about your coverage
“Be specific about which countries and industries you have had exposure to, or set out the weighting of your portfolio if you cover more than one area,” advises Chris Jackson, a director at Pure Search & Selection.
Credit risk: include any Big Four experience
“Keep it brief but do go into any Big Four audit experience you might have,” says Cochrane. “Credit risk candidates may not think that audit is relevant, but audit is essentially risk and it shows that you have done risk training and have a risk mindset.”
Market risk: define your focus
“Product familiarity and your level of interaction with the business are two important pieces of information to include on your market risk resume,” says Jackson. “An important distinction to also make on your CV is the weighting between reporting-centric tasks and those which are about oversight, involving regular dialogue with traders around market-risk exposures and trading strategies. Both areas are in demand but its best to define if your role has a greater focus on reporting or oversight.”
Operational risk: be a policy changer
Banks are increasingly looking for operational risk candidates with broad experience across the entire risk function who have implemented wide-reaching policy changes to a business. “But if you say on your CV that you ‘implemented’ or ‘drove’ a particular risk framework or policy, remember that you’ll need to substantiate it later at the job interview,” says Jackson.
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