Prepare CV for a Credit Risk job
Understand the CV preparation process for a Credit Risk job in <10 mins
In the competitive landscape of risk analytics, a well-crafted CV and strategic interview preparation can be your ticket to success. A well-crafted and articulated CV significantly increases the chances for your CV to get shortlisted. If you’re exploring jobs in credit risk, market risk or liquidity risk sectors, these tips and pointers will help you stand out in the crowd.
There are certain keywords and skill sets which recruiters and hiring managers look for in the CVs and LinkedIn profiles of potential candidates.
In this article, we will look at some general CV tips and job description-specific skills which should be mentioned in the CV and backed by the relevant learning and work experience.
General CV tips
- One Master CV: Prepare a master CV with all the projects, online courses and certifications. Add a brief summary for each project which covers 3 points: i) project overview, ii) your role and iii) impact created.
- Formatting and Design tips: The font type should be Calibri or Cambria and font size should be 11 points. Avoid any unnecessary margins, paddings and line spacings. Also, do not make it colorful. It is ideal to keep it Black and White.
- Individual CVs: Create individual CVs for each profile such as Credit Risk, Market Risk, Liquidity Risk and Data Analytics roles. All the individual CVs should be 1 page each with a word count of approximately 550 words. There can be some overlap between projects due to the nature of the projects for a particular profile.
- Fill gaps: To fill gaps in your CV, use online courses such as: Regression Models using Python/R, Machine Learning Python/R, Financial Modelling using Python/R.
- Relevant Skills: Instead of basic skills such as experience on MS products (Excel, Word, PowerPoint), mention more relevant skills such as: Python, R, SAS, SQL, C/ C++. You can use your familiarity with a particular technical skills such as Python Basics, Python Intermediate, Python Advanced, etc.
- Sharing CV: Always share the pdf version with recruiters to ensure convenience and safety.
Job Description Specific CV tips
- Review Job Description: Thoroughly review the JD and identify the keywords from it which are relevant to Credit Risk.
- Tailor Credit Risk CV: Modify your Credit Risk CV based on the requirements mentioned in the JD. Make your CV aligned with the JD. It should reflect that you possess the right skills for the job and you are interested in the role.
- Quantitative Skillsets: An understanding of the fundamentals of Probability and Statistics is expected from the candidate. If you have done any courses related to Probability, Statistics, Econometrics, Quantitative Finance, etc you can mention these in the CV under a bullet item Coursework.
- Technical Skills: For a candidate who is just starting out his/her career, a basic proficiency in at least one programming language in expected in most of the roles. Mention technical skillsets in your CV such as Python, R, SAS, etc with familiarity (basic/level/advanced). Some level of familiarity with programming is expected at even mid-level and executive roles in most of the firms.
- Modeling Skill Sets: If you are applying for a profile related to Credit Risk, your CV should reflect your modeling skill sets such as Loss Modeling, PD and LGD Modeling, Scorecard Modeling, etc.
- Regulatory Knowledge: For a role with >3 years experience (approx), a candidate is expected to be familiar with at least one or more regulatory guidelines for loss provisions calculation, such as CECL, ALLL, IFRS 9 and US GAAP.
- Portfolios knowledge: A candidate with >3 years experience, Mortgage, Auto, Credit Cards, etc, Basel I, II and III Overview and SR 11/7 guidelines.
- Interpersonal and Soft Skills: As you progress further in your career, your interpersonal and soft skills play a determinant role in your professional growth both inside and outside the organization. So, if you are planning to switch to a new role, you must have strong interpersonal and soft skills. While having a relevant experience such as an MBA degree in your CV highlights this aspect, this can be demonstrated in other aspects such as having crisp and clear interaction during your interview.
- Leadership Skills: If you are applying for a senior role (> 5yrs), you must demonstrate leadership experience based on your CV. This experience can be related to a leadership role played by you during training program, hiring drive, innovation projects or can be subtly placed while mentioning your work experience where you can highlight about the team size led, value delivered and the overall impact created by yourself.
Next Steps
As next steps, prepare a list of firms and profiles which are hiring for that particular profile. Start reaching out to the hiring managers and explain to them about your background and why your profile is a fit for the role for which they are hiring. Once your CV is shortlisted, you need to start preparing for the interview. The steps to prepare for interview are given in the next article.
Few Final Words: In my experience, transitioning from a job is just a phase and part of the journey, both personal and professional. Before 30s, it is not very difficult to switch and we are always excited about new roles, new people and new places. However, things become difficult after 30s as our personal and professional responsibilities increase and we want stability and control in our lives. So, it is extremely important to make long-term plans for ourselves before applying for any role and accordingly prepare ourselves for it, both mentally and emotionally.
