In this article, one of Quantnet’s “anonymous Wall Street Senior Executives” describes a typical day in his life as a Managing Director in Market Risk at a bulge bracket investment bank. Share your story at Quantnet.
06:05 – Wake up, shower, dress
06:10 – Briefly question career choice, think about sleeping in and applying for job at Wal-Mart
06:11 – Recall the great staff and intellectual stimulation job provides, recommit self to career
06:30 – Drive to train station
06:43 – Get on train to NYC
07:30 – Arrive NYC, cab to office
07:40 – Address staffing issue, leave message for HR
07:50 – Login, check email, get 1st double short cappucino @ Starbucks, grab two risk quants on the way down to catch up on SCAP
08:00 – Attend career development meeting for risk management junior folk where career planning is discussed
08:30 – Leave meeting early to discuss urgent regulatory issue
08:40 – Grab 4 senior quants and mortgage risk manager to discuss reg issue in more detail
09:00 – Finish assembling VaR data for another regulator, send to compliance
09:15 – Second double short cappucino – this time with two guys who used to work for me (triple gingerbread latte and single vanilla latte, respectively). I pay (as usual), but in a sign of good karma, Starbucks cashier charges me for only the cheapest AND give me two boxes of Christmas Blend VIA packages. I’m a big hitter there.
09:30 – Have informal meeting with Fed staff to discuss Merchant Banking and SCAP
09:45 – Have informal meeting with OCC staff to discuss upcoming exams
10:15 – Catch up with mortgage risk manager on reg issue, go to other building to meet with global head of ops
10:30 – Meet with global head of ops to discuss upcoming reg exams
11:15 – Draft response to Internal Audit about various governance issues
12:00 – Lunch – grilled flatbread with pepperoni and olives, yum!
12:15 – Draft quick response to MQF students about comparing Fast Fourier seasonals to ARIMA-based seasonals
12:20 – Catch up with Internal Audit on governance
12:30 – Try out the Starbucks VIA Christmas blend. Slight bitter aftertaste, but provides necessary additional kick.
13:00 – Look longingly at iPad on Apple site, decide to wait for next version
13:30 – Discuss opening in model review team with head of group, call ex-student to ask him to come in and interview
13:40 – Call wife, express undying love, tell her I’ll be home late (again)
13:50 – Informal catch up with head risk quant to discuss staffing
13:55 – Talk to HR on IT budget allocations
14:00 – Dualing mortgage risk meetings
15:00 – Informal meetings with Private Equity, Real Estate, and controllers, gradually working my way down the elevator bank
15:20 – Walk back to office
15:30 – Weekly catch up with risk chief admin: reg issues, limits, expenses
16:00 – Review private equity and real estate risk profile with head of market risk and risk staff
17:00 – Review treasury and global wealth management risk with head of market risk and risk staff
17:45 – Review global limits presentation for management committee with head of market risk
18:15 – Go to corporate gym, work out the kinks
19:00 – Review VaR, sign off, go home
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