I’m about to be a senior in high school and I was deciding what school route should I take to become a CRO in Wall Street.
Becoming a CRO is very oddly specific. First you need to figure out what part of financial services interests you as a career (fixed income equities trading is a lot different than investment banking which is a lot different than wealth management, etc), or if you even want to go into financial services.
what is a CRO?
wikipedia:
Chief research officer, a corporate executive title
Chief restructuring officer, a corporate executive title
Chief revenue officer, a corporate executive title
Chief risk officer, a corporate executive title
Chief risk officer is what i meant
There’s a specific math major on Finance and Risk management
Probably also good to take some accounting classes (maybe even Ross minor) to learn about liabilities on asset management on a balance sheet.
Risk can be so many different things.
Some CROs were lawyers before, which makes sense since businesses need to adhere to certain compliances.
Other CROs have worked in information security too since there business computers and servers get exploited and hacked all the time.
And then other CROs have been actuaries before you always need insurance as backup plan.
There’s another math major in actuarial science
https://lsa.umich.edu/math/undergraduates/major-and-minor-programs/actuarial-mathematics.html
Just be aware that the Math department has the highest requirements out of any LSA major.
It’s about 40 credits or 10 courses, but that number doesn’t even include the prerequirements such as Calc 1, 2, 3, and Linear Algebra, Econ 101, Econ 102, and EECS 183. Not to mention, the math department literally has the harshest grading curves out of any academic department.
addendum to
In real life, companies break some regulations (eg. tax evasion and emitting toxic pollution to save $$) because the profits they earn outweigh the fines they need to pay along with potential public relations backlash and/or investors pulling out.
You just need to get into Ross. From what I heard they will do the rest.
“Some CROs were lawyers before, which makes sense since businesses need to adhere to certain compliances.
Other CROs have worked in information security too since there business computers and servers get exploited and hacked all the time.
And then other CROs have been actuaries before you always need insurance as backup plan.”
In practice, wall street CROs are generally none of these…
It depends. Risk management can be quantitative, measuring your assets’ VAR for Reg compliance and internal policy. Credit risk is usually its own thing or with the securities risk group. (IT risk is generally within a CIO remit.)
The compliance type risks such as AML can also fall under a CRO or the Cheif Legal Officer. Depends on the size of firm. Some large companies have one for each division.
To answer your title question: take the 4 or 5 train downtown.
From central campus, take Washtenaw Avenue to US-23 South, Just south of Toledo, take Interstate 80/90-Ohio Turnpike East. Follow signs for Interstate 80 East across Pennsylvania and New Jersey. At Hackensack, merge onto Interstate 95 North. Cross the George Washington Bridge. Take Henry Hudson Parkway/NY Route 9A South. Route 9A becomes West St. Make a left on Chambers St. Make a right on Broadway. Wall Street will be on your left.
You’re welcome.
@bclintonk =))