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Tuesday, September 01, 2015

Ilk wanted

Corporations and professionals have noticed that the community here is considerably smarter and better-educated than most sites on the Internet. And, of course, SJW-free.

We would like to ask the Ilk for support in hiring for a few roles. The roles are located in London. Some of these are junior roles and aimed at university graduates; others are aimed at experienced staff in financial risk management/project delivery. The junior roles are for employees, the experienced ones can be both freelance contracting or direct employee roles; this is negotiable. Pay is competitive "at market".

If you are interested, please consider the following minimum skill-set and experience requirements (note different for junior versus experienced hires):

For the "graduate" roles:

You have an excellent academic track record from a good school. Your highest degree is a PhD or MSc (or equivalent level) with a written thesis in a numerate (STEM) subject. For your submission it is necessary that you have completed a thesis/final project; please include the thesis title in your CV.

Notice it is not necessary that the thesis has anything to do with finance; the institution wants to hire "simply the best in STEM". So if you're good for the mathematical bits, then the hiring institution will consider you for a trainee position and train you up in the finance stuff. You should however bring along a keen motivation to learn about financial risk management; in particular mathematical methods to model market risks, liquidity risks, credit risks. In addition, it would greatly help your chances of consideration if you had mastered some (or even all) of the following areas at university: PDE's, SDE's, numerical methods (such as Monte Carlo, trees, finite differences, finite elements), probability theory or statistical analysis, time series analysis, a smattering of computer languages (good ones are SQL, scripting languages such as Unix shell/Perl/Python, Java, C/#/++, data structures/mappings such as XML or FpML, but notice these are not developer roles). Obviously some pre-existing knowledge in mathematical finance will be helpful as well.

The hiring process for the junior roles will emphasise your academic track record, all the way back to GCSE/A levels/college degrees. List all your marks/grades on your CV, including the individual mark/grade of your thesis versus the overall mark/grade of your MSc/PhD.

Please do not send us your CV for the junior positions if:
    1. Your highest academic degree is a Bachelor or equivalent. The role will prove to be too challenging in that case. (Sorry Jonny Con!)
    2. Your master degree is an MBA, a Master in Finance, a degree in accounting or law, or similar. These roles are exclusively for STEM candidates. The financial services industry offers tons of roles for people with your qualifications profile; these roles are not such and therefore not for you.

For the "experienced" roles:

You have 3 or more years of experience in credit or market risk business analysis, financial risk management, risk modelling, and/or risk system project delivery. You understand the use of quantitative methods in finance, especially in market risk management, liquidity risk management, and/or credit risk management; and you can explain the effects of the models to your internal customers including senior management. You have previously produced typically required artefacts for each project stage (please list all such project documents in your CV!) including stakeholder sign-off.

Your academic degree ideally is in a STEM or related subject. Bachelor or equivalent is sufficient here; the strict minimum criteria from the "junior" section do not apply; the assumption is that your practical experience will have made more than up for less time at uni. If your degree is not STEM but your project track record evidences good experience with successful delivery of quantitative finance and/or risk measurement models, then please add a sentence or two of explanation to your CV.

Be aware that these are Risk roles; previous experience in Front Office, Operations, Finance, Compliance are all surely useful, but if you never have worked in Risk this will be an uphill struggle. Similarly be aware that these are roles for change business analysts with a strong affinity to quantitative risk modelling; but if you are from a pure operational/BAU analyst background without hands-on project delivery experience, this could be too challenging as well.

For either of the roles, please send your CV listing all relevant skills and professional experience to Vox.

Labels:

25 Comments:

Blogger Aeoli Pera September 01, 2015 12:18 PM  

Sounds like my kinda thing, but gimme a couple years for the Master's. Finally have the means to finish the Bachelor's this December (math, physics minor).

I suggest that an easier way to fish for applicants (here and elsewhere) is to proctor some actuarial exams and skim the top scores, rather than all this wharrgarble.

Anonymous Tom September 01, 2015 12:24 PM  

Ilkotism is brilliant, absolutely brilliant, both as a concept and a word.

I smiled at this post and got a bit of joy from it even though I'm not interested in the jobs in question in the slightest (not qualified either). I absolutely love the idea of sorting candidates by audience membership.

Anonymous Tom September 01, 2015 12:24 PM  

"Hmm, you like Star Trek the Next Generation but not the original series? NEXT!!!"

Blogger Student in Blue September 01, 2015 12:25 PM  

Ilkotism is brilliant, absolutely brilliant, both as a concept and a word.

It's been around for a while.

Anonymous Tom September 01, 2015 12:33 PM  

I get the feeling my "C" in the Women's Studies class I was forced to take might be counted as a positive...

I got the undergrad in Physics with a Math minor, and I was all set to go on to become a research scientist. But, various things showed me the true nature of scienstry, and I headed for the hills (and my wife) after graduating.

Anonymous Stickwick September 01, 2015 12:45 PM  

I think you will not have a hard time finding qualified applicants, because the academic and lab jobs in STEM are drying up severely. There are typically hundreds of applicants for every tenure-track job posted.

If for some reason you are not getting as many responses as you would like, I recommend posting an ad with the APS. There are lots of qualified physics PhDs who meet your criteria and are desperately looking for good jobs.

Anonymous EH September 01, 2015 1:15 PM  

They clearly haven't researched what indicators are predictive of performance. (Intelligence, conscientiousness) The indicators they are asking for are indirect (credentials) or even anti-predictive (conventional risk modelling experience), which is a good tell that they are typical financial industry types (arrogant morons).

I bet they even think that the Sharpe ratio is a good metric (which treats profit as risk).

Blogger Brad Andrews September 01, 2015 1:18 PM  

This is the first time I have seen grades mentioned in such positions. It sounds like that applies more to the entry level roles though.

The only thing that my mind wonders is how much information security risk is similar to financial risk. I have no desire to move to London at this point, so it is a mere intellectual question for me.

Anonymous cent September 01, 2015 1:28 PM  

infosec is all about managing risks, so it would be similar. I agree on London being less than desirable.

Anonymous physics geek September 01, 2015 1:42 PM  

Your highest degree is a PhD or MSc (or equivalent level)

Hmm. My advanced degree is an M.E. (master of engineering), which means 30 credit hours (10 classes) of graduate studies, which means no thesis was required. Would such a lack be considered disqualifying? I also have a bachelor's degree in physics. My current job involves creating and maintaining probabilistic risk models of nuclear power plants. I have no idea if any of this would be applicable to the positions listed above.

Anonymous BGS September 01, 2015 1:59 PM  

proctor some actuarial exams and skim the top scores,

My sister is an actuary and an SJW. She can tell you how long each cigarette takes off someone's life but thinks if a black boy was born in a rice paddy he would have the same 1 out of 50 odds of getting a perfect math SAT as Asian boys.

Anonymous BGS September 01, 2015 2:03 PM  

She is more like a Disingenuous White Liberal. She certainly doesn't live near Non Asian Minorities, has a white nanny for her 3 kids,& travels extra hours to go to an amusement park that has less NAMs than closer ones.

Blogger Feather Blade September 01, 2015 2:06 PM  

@5 "I get the feeling my "C" in the Women's Studies class I was forced to take might be counted as a positive..."

I don't know... C still means that you got a passing grade in the subject. Not a red flag per se, but still...

Anonymous Superhans September 01, 2015 2:52 PM  

proctor some actuarial exams and skim the top scores, rather than all this wharrgarble

Good idea, but quite specific to insurance risk. Other risk types are mentioned here. Also, actuarial degrees are not excluded.

There are lots of qualified physics PhDs who meet your criteria and are desperately looking for good jobs.

Bring them on Stickwick! I'm sure (most) English physics PhD's know very well their market value in London and are much less desperate.

They clearly haven't researched what indicators are predictive of performance. (Intelligence, conscientiousness)

Hahaha, if it only were that easy to vet paper CVs for intelligence! "Are you intelligent? Are you conscientious? Are you hard working and motivated? Please tick all boxes that apply, and be sure to answer honestly!"

I bet they even think that the Sharpe ratio is a good metric (which treats profit as risk)

You'd lose that bet.

infosec is all about managing risks, so it would be similar. I agree on London being less than desirable.

I'd disagree with both assertions. But I confess I'm on shaky ground here. For the former, I know infosec too little although I guess it is very distinct. For the the latter, this is is of course purely subjective.

M.E. (master of engineering), which means 30 credit hours (10 classes) of graduate studies, which means no thesis was required. Would such a lack be considered disqualifying? I also have a bachelor's degree in physics. My current job involves creating and maintaining probabilistic risk models of nuclear power plants.

No, it wouldn't disqualify. The evidence needed is the ability to apply the math models you have studied from textbooks in practical problems, by yourself and in a project-type setting. You do that already in your nuclear work. Shoot Vox an email message with more details if interested!

C still means that you got a passing grade in the subject.

In this context it appears the perfect grade, actually. Don't forget that everyone still has to survive the annual "trainings" in diversity and stuff, administered centrally by corporate HR; the functional departments are not being asked about sending their staff there, it's simply declared mandatory. It's laughably easy to pass of course, but it's mind numbingly dull and trite. But it passes.

OpenID corvinus333 September 01, 2015 3:36 PM  

I'm assuming they mean British Ilk (or European Ilk) wanted.

OpenID thenoisyrogue September 01, 2015 3:46 PM  

An interesting development. My father's firm takes it one step further. They are now refusing to interview anyone with a degree obtained in the last 5 years unless it is a critical requirement for the work that needs to be done. His attitude is that universities are indoctrination camps and you can teach people most things on the job. Why try to teach them as well as ween them off their SJW thinkings? They look for critical life experience and social skills. And the all too rare ability to like, you know, actually turn up on time.

Blogger Student in Blue September 01, 2015 4:36 PM  

And the all too rare ability to like, you know, actually turn up on time.

The war is fought by those who show up...

Blogger Aeoli Pera September 01, 2015 4:38 PM  

She is more like a Disingenuous White Liberal. She certainly doesn't live near Non Asian Minorities, has a white nanny for her 3 kids,& travels extra hours to go to an amusement park that has less NAMs than closer ones.

Both smart and conscientious. I don't see any problems here.

Good idea, but quite specific to insurance risk. Other risk types are mentioned here. Also, actuarial degrees are not excluded.

I only glanced at the UK version, but in America the first exam is calculus 1-4 and calc-based probability. Required financial knowledge is bare minimum and could be picked up by STEMs with prior warning and a couple hours' reading. Any weirdo who knows ODEs but not PDEs can pick it up no sweat (negligible differences in rote techniques learned to pass the class), and if we're being honest they'll be doing that part with a computer anyhow.

Blogger Aeoli Pera September 01, 2015 4:41 PM  

You could also skim scores from other STEM equivalents if SOA Exam P is still too specific: Fundamentals of Engineering, Math or Physics GRE, etc.

Blogger Eraser September 01, 2015 4:44 PM  

@6: I think you will not have a hard time finding qualified applicants, because the academic and lab jobs in STEM are drying up severely. There are typically hundreds of applicants for every tenure-track job posted.

Yes. I was about to comment about the submitter intending to hire "simply the best in STEM" while neglecting to mention why the best in STEM might want to work for him. I'm not trying to be snarky here, it is just that this claim appears often enough in job ads for new graduates (one common variant is "we're looking to hire top talent") that one might wonder where the bottom 90% of graduates are supposed to work, if at all. That, and anyone who has spent time in a corporate environment will be rightly suspicious of claims that they only hire the very best.

But the truth is, the academic job market is so bad, with no improvement in sight, that those graduates who are mostly research or theory-oriented might be glad they can get a well-paying job at all.



Blogger James Dixon September 01, 2015 9:05 PM  

Vox, while none of these have been up my alley, I'd like to thank you for doing this. It's a very useful and important service.

As for my status, I had my third job interview of the past two weeks today. Still unemployed, but at least people are talking to me.

Anonymous BGS September 01, 2015 9:20 PM  

Both smart and conscientious. I don't see any problems here.

The problem is not what she is doing, but that she believes blacks just get arrested for being black & 3rd world immigrants just want to come here for a better life on taxpayers expense. My sister and her husband don't believe in guns for protecting themselves and they are only an hour away from significant black crime.

Anonymous physphilmusic September 01, 2015 11:15 PM  

I was about to comment about the submitter intending to hire "simply the best in STEM" while neglecting to mention why the best in STEM might want to work for him.

The literal best in STEM, by that which I mean the top 10% of all PhDs that graduate from math, engineering, physics, and computer science programs in the US, will never find a dearth of opportunities open to them. They will either become faculty members, where their salaries might not be very high but they get to become a personal commander of a small army of researchers investigating any abstract topic that crosses their fancy, or work in major, high-paying companies like Google or the top Wall Street financial firms. So if you literally want the best in STEM, you have to make a convincing case why these extremely smart people should stop investigating supersymmetry and cosmology and quantum computing in order to switch to predicting stocks and financial derivatives. Is it insanely high pay? Is it fame and glory? Yes, there are a lot of qualified PhDs who will respond to this opportunity and are willing to work for anything, but these will likely be the 20th-80th percentile of scientists. Of course for many people who are not scientists themselves, they will be unable to distinguish these people from the true cream of the crop in STEM, but perhaps these people are already competent and smart enough for their purposes.

Anonymous Tom B September 02, 2015 3:10 PM  

Keeping an eye out for something suitable for a MA in Religious Studies/BA in Philosophy with mad research skills, exposure to high level archeological instruction and media experience. Just sayin'...

Anonymous Luke September 03, 2015 5:29 PM  

If anyone needs an M.S.-level Geologist, I'm very available. (Have ACT 32/SAT 1350/Geology GRE Subject test 82nd percentile, from before the 1st two of those tests were made easier back in the 1990s.) Had a Series 6 license (from an oil commodities trading brokerage) at one point.

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