OTC_Derivaties
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Hi all,
I'm just looking for some Career advice with regards to my current role and what to do. I will give you a brief overview of my background and current position.
In 2008 I graduated from Glasgow University with a 2.1 in Finance, at this time there was very little opportunity in Banking due to the liquidity crisis. However I did have some experience as I managed to work part-time with Lloyds TSB as a Lending Officer for 2 years whilst completing my studies. Then shortly after graduating I managed to get a role within Operations with Barclays Wealth in Glasgow. The role was pretty dry and management wasn't really clued up but it allowed me to get experience, I stayed at Barclays for 12 months and self studied in order to complete the IAQ (3 modules). After the 12 months I joined Bloomberg in London on their Global Data Training Programme.
I decided to take the role as I felt that even though the job might not be what i'm looking for at least i'd be in London and have terminal experience. I spent 3 months in NY and learnt the various functions for covering Fixed Income and Asset Backed Security products, obviously whilst working on products you pick up a fair amount of knowledge and I spent alot of my time communicating with traders and syndicate desks whilst fixing bond prices and bringing new deals to the market via various lead managers to ensure prices were available to the market at issue date. Nonetheless after about 15 months there was very little development and I decided that there wasn't anywhere within Bloomberg that I would have liked to have moved into as its either sales or news so I decided to try and get back into Banking.
During my search for roles within Banking I felt that a move back into Wealth Management would have suited me but this time in Front Office. I managed to secure a role as a Client Advisor Assistant (CAA) at UBS. This is a role that I knew existed as I spoke with the Barlcays equivalent during my time at the Bank, so I felt that the role could be interesting and managed to get an offer made which I accepted. I have now been working at UBS as a CAA for 18 months now and completed the IMC as part of my own self development.
My issue is that I feel like i've had enough of the role, their are far too many downside risks and not enough upside to make it beneficial. Effectively you are used somewhat scapegoat for anything that goes wrong. Daily activities can range anywhere from Opening a Company Account in Panama to buying ETF's for a client and going short on EUR all depending on where the market is and what the client wants. However if you f*ck anything up you get the bullet. I am quite happy to live with that risk if I was getting paid slightly better. I know the market is all over the place at the moment and the Bank itself is struggling but I just feel that the risk isn't worth the return...I really don't know what to do as at a max I feel that I can do the role for another 5 months before I become completely fed up of being treated like $hit, in the meantime to keep myself busy i've paid to sit level 1 of the CFA. I'd be really grateful for some advice on what to do because i'm aware that i've had a few jobs since leaving Uni so I just want to make sure that whatever I do its the right decision because I even contemplated moving over to the IB. Any advice would be appreciated.
I'm just looking for some Career advice with regards to my current role and what to do. I will give you a brief overview of my background and current position.
In 2008 I graduated from Glasgow University with a 2.1 in Finance, at this time there was very little opportunity in Banking due to the liquidity crisis. However I did have some experience as I managed to work part-time with Lloyds TSB as a Lending Officer for 2 years whilst completing my studies. Then shortly after graduating I managed to get a role within Operations with Barclays Wealth in Glasgow. The role was pretty dry and management wasn't really clued up but it allowed me to get experience, I stayed at Barclays for 12 months and self studied in order to complete the IAQ (3 modules). After the 12 months I joined Bloomberg in London on their Global Data Training Programme.
I decided to take the role as I felt that even though the job might not be what i'm looking for at least i'd be in London and have terminal experience. I spent 3 months in NY and learnt the various functions for covering Fixed Income and Asset Backed Security products, obviously whilst working on products you pick up a fair amount of knowledge and I spent alot of my time communicating with traders and syndicate desks whilst fixing bond prices and bringing new deals to the market via various lead managers to ensure prices were available to the market at issue date. Nonetheless after about 15 months there was very little development and I decided that there wasn't anywhere within Bloomberg that I would have liked to have moved into as its either sales or news so I decided to try and get back into Banking.
During my search for roles within Banking I felt that a move back into Wealth Management would have suited me but this time in Front Office. I managed to secure a role as a Client Advisor Assistant (CAA) at UBS. This is a role that I knew existed as I spoke with the Barlcays equivalent during my time at the Bank, so I felt that the role could be interesting and managed to get an offer made which I accepted. I have now been working at UBS as a CAA for 18 months now and completed the IMC as part of my own self development.
My issue is that I feel like i've had enough of the role, their are far too many downside risks and not enough upside to make it beneficial. Effectively you are used somewhat scapegoat for anything that goes wrong. Daily activities can range anywhere from Opening a Company Account in Panama to buying ETF's for a client and going short on EUR all depending on where the market is and what the client wants. However if you f*ck anything up you get the bullet. I am quite happy to live with that risk if I was getting paid slightly better. I know the market is all over the place at the moment and the Bank itself is struggling but I just feel that the risk isn't worth the return...I really don't know what to do as at a max I feel that I can do the role for another 5 months before I become completely fed up of being treated like $hit, in the meantime to keep myself busy i've paid to sit level 1 of the CFA. I'd be really grateful for some advice on what to do because i'm aware that i've had a few jobs since leaving Uni so I just want to make sure that whatever I do its the right decision because I even contemplated moving over to the IB. Any advice would be appreciated.
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