banks1:
Hello Jarus,
Thanks for the compliment. Its a him by the way...lol. my email is debanks2003 at yahoo (dot) com. Please send me an email within the hour and i'll reply with my resume using my business email. Many thanks

Dude, check your inbox. The email is waiting for you there.

It is a very good thing to be an achiever. Who says being sedulous does not pay?

I had a discussion with a quant chum a couple of hours ago and he said naija companies will fight fiercely for you. Maybe gidigbo or boxing or kung fu, I am not sure . He even believes that no one in naija has the kind of qualifications you have at your age. I am not sure if he is right or wrong, but just keep us posted about your experience.


hahaha

Enjoy-

T22

tanimola22:

Dude, check your inbox. The email is waiting for you there.

It is a very good thing to be an achiever. Who says being sedulous does not pay?

I had a discussion with a quant chum a couple of hours ago and he said naija companies will fight fiercely for you. Maybe gidigbo or boxing or kung fu, I am not sure . He even believes that no one in naija has the kind of qualifications you have at your age. I am not sure if he is right or wrong, but just keep us posted about your experience.


hahaha

Enjoy-

T22

Gidigbo ke, I am highly flattered by your friend's compliment but i am not sure if i am the only one at this level at my age...lol, there's got to be others like me who have always been studying since secondary school. Sure, as I get updates i would definately keep you posted.

Hi guys, brilliant contributions so far. I am First Class graduate of Quantity Surveying from a foremost Federal University in Nigeria and I am currently serving. I am interested in pursuing a career in Investment banking, precisely Project and Structured Finance. Please which firms/banks in Nigeria offers best practices in this field and how much is the start-up salary scale for graduate entry.
Thank you.

temitopeawoyemi: Hi guys, brilliant contributions so far. I am First Class graduate of Quantity Surveying from a foremost Federal University in Nigeria and I am currently serving. I am interested in pursuing a career in Investment banking, precisely Project and Structured Finance. Please which firms/banks in Nigeria offers best practices in this field and how much is the start-up salary scale for graduate entry.
Thank you.

Hi,

African Finance Corporation AFC does something along those lines. You may want to check http://www.africafc.org/pages/services.php.

Go through the links on the previous pages and apply to those companies that are currently recruiting. Some of them are RenCap, ARM and co.

T22.

Hi all. Wow u guys have bn grt! I've bn looking for a thread like dis cuz i have a problem. I recently graduated with a 2.2 4rm OAU and i'm waiting to serve dis July. I studied mathematics and 4 a long time i've been worried abt wat to do career wise. Investment banking really appeals to me. I intend 2 get a CIS qualification but b4 i do dat i want 2 knw if i stand a chance in stock broking. Or am i just kidding myself?

U-dee:
Hi all. Wow u guys have bn grt! I've bn looking for a thread like dis cuz i have a problem. I recently graduated with a 2.2 4rm OAU and i'm waiting to serve dis July. I studied mathematics and 4 a long time i've been worried abt wat to do career wise. Investment banking really appeals to me. I intend 2 get a CIS qualification but b4 i do dat i want 2 knw if i stand a chance in stock broking. Or am i just kidding myself?

As far as I know, brokerage firms will not reject people with a useful quantitative background. Have you been applying to these firms? How many rejections have you gotten so far?

tanimola22:

As far as I know, brokerage firms will not reject people with a useful quantitative background. Have you been applying to these firms? How many rejections have you gotten so far?

Actually I haven't started applying, our results weren't released till last month. Its just something i'm considering.

U-dee:
Actually I haven't started applying, our results weren't released till last month. Its just something i'm considering.

You can start by visiting brokerage firms and making friends with people there. Brokerage firms in naija don't do the usual graduate program. They rely on recommendations to employ new staff. One of the people you make friends with may just recommend you in the near future.

Don't dull yourself O. Don't wait until you get everything before you start approaching these people. By hook or by magomago, begin to approach them from tomorrow. Express your interest in the profession and your willingness to learn more and more.

Finally, start a relevant professional exam as soon as possible. You will be competing against people with flawless credentials for very few finance jobs. You too need a competitive edge, or don't you?

What is more, well that is all.

T22

Jarus: Banks,
You've got an impressive CV there. A friend, one year my junior in Ife, was just on CFA2(no ACCA, nothing else except Bsc Econs) when Vetiva snatched him from Merristem. Vetiva were impressed by just CFAn he's also smart though. He was just about settling down in Vetiva when Shell also literally poached him. He's now with Shell. He flunked his CFA3, but no longer in IB, so means less to him.

Another mate, though has more certs(ICAN, ACCA, CIS, CFA3, Bsc Accounting, Msc Ops Research Dundee or Edinburgh, can't recall) is doing well in Rencap.

So, you stand a great chance of doing wonders in Naija's IB industry as I can see you have the passion.

T22, pls give her my email add and let me see if I can get it across to my guys in Vetiva, Meristem and Rencap for onward passage to right quarters in their firms.

I skipped that. I suspect that mate of yours is 'king likes me'. He was actually at Edinburgh and did ops at MSc level. One of my mates also did ops but focused on management science, while your mate focused on risk. That my mate stayed back and now works for an energy trading firm in London, while your mate came back to naija almost immediately. Your mate has successfully made a mockery of all those professional certifications, except the CFA. I hope his pay at renaissance is proportional to his certifications because that dude truly has plenty certifications.

Meanwhile, renaissance has many high quality people. That place must not be bad, I guess.

T22

^^
You're very correct. It's small world, after all.

tanimola22:

You can start by visiting brokerage firms and making friends with people there. Brokerage firms in naija don't do the usual graduate program. They rely on recommendations to employ new staff. One of the people you make friends with may just recommend you in the near future.

Don't dull yourself O. Don't wait until you get everything before you start approaching these people. By hook or by magomago, begin to approach them from tomorrow. Express your interest in the profession and your willingness to learn more and more.

Finally, start a relevant professional exam as soon as possible. You will be competing against people with flawless credentials for very few finance jobs. You too need a competitive edge, or don't you?

What is more, well that is all.

T22

Thanks for your advice, trust me I'll be taking it. Turns out a friend of the family is an executive in a brokage firm, so I'll be starting from there

U-dee:

Thanks for your advice, trust me I'll be taking it. Turns out a friend of the family is an executive in a brokage firm, so I'll be starting from there

Good. All the best!

Hi all,

Appaz I've been the biggest last carrier in this line, my name is Tobi and I graduated from Unilag(not MAULAG pls...a lil humour) in 09, with a BSc in civil engineering, then I stumbled upon this degree MSc financial mathematics(for those who are familiar it's a path to be a 'quant')...since I've always loved mathematics and wasn't really into low lvel civil engr work I decided to opt for it. The problem is that I do not really know how applicable it would be in the nigerian market but with the CBN approving the derivatives markets last year and NASDAQ coming to reform our exchanges, do you feel this career choice is a wise one looking down the line for job prospects in our IBs in Nigeria?

tobbi1310: Hi all,

Appaz I've been the biggest last carrier in this line, my name is Tobi and I graduated from Unilag(not MAULAG pls...a lil humour) in 09, with a BSc in civil engineering, then I stumbled upon this degree MSc financial mathematics(for those who are familiar it's a path to be a 'quant')...since I've always loved mathematics and wasn't really into low lvel civil engr work I decided to opt for it. The problem is that I do not really know how applicable it would be in the nigerian market but with the CBN approving the derivatives markets last year and NASDAQ coming to reform our exchanges, do you feel this career choice is a wise one looking down the line for job prospects in our IBs in Nigeria?

If you already have the degree and wish to work in Nigeria, then come in as a normal stock/bond analyst but try not to forget your skills in quantitative finance. When the field starts blossoming, which I think will still take some time, then you can simply play your professional card and go to a place that fits your career aspirations the most.

IBs in Nigeria don't do what is taught in a typical quant finance class. People with degrees in accounting, finance, banking, economics, business admin and co can function well in every department at naija IBs. You don't need those very deep savvy skills to do well in ib in naija. Onyeama says he will introduce hedge funds to naija market. We are still waiting.

Finally, if you like quant finance (hope you know some stochastic processes, stochastic calculus, measure theory and probability, computer programming), then go for it. However, bear in mind that you may not work as a quant finance in naija due to the fact that our market is not yet developed in this area.

T22

tanimola22:

If you already have the degree and wish to work in Nigeria, then come in as a normal stock/bond analyst but try not to forget your skills in quantitative finance. When the field starts blossoming, which I think will still take some time, then you can simply play your professional card and go to a place that fits your career aspirations the most.

IBs in Nigeria don't do what is taught in a typical quant finance class. People with degrees in accounting, finance, banking, economics, business admin and co can function well in every department at naija IBs. You don't need those very deep savvy skills to do well in ib in naija. Onyeama says he will introduce hedge funds to naija market. We are still waiting.

Finally, if you like quant finance (hope you know some stochastic processes, stochastic calculus, measure theory and probability, computer programming), then go for it. However, bear in mind that you may not work as a quant finance in naija due to the fact that our market is not yet developed in this area.

T22

Thanks T22, yea I have a back-up plan of doing a CFA, self studied for the level 1 last year and just fell short so I'm confident that if I take it again I should pass it. But it's the complex math (stochastic calculus and PDEs) that attracted me to this line. I've just finished a premasters diploma in mathematics and I'm meant to start the MSc in october. Was really hoping to move back to Nigeria after my MSc, but at this rate I might have to wait a while (grow confidence in the application of the skills but Lord knows I'm tired of not being in Lagos...but if it has to be done). I'm hoping to come to Nigeria for a brief spell from July to September, would like to gain some work experience as well, mehn finding job in the diaspora no easy at all especially in this field, competition is mental. I should make use of some of the links provided in this thread, if there's any extra assistance it would be much appreciated as well.

Thank you

tobbi1310: Hi all,

Thanks T22, yea I have a back-up plan of doing a CFA, self studied for the level 1 last year and just fell short so I'm confident that if I take it again I should pass it. But it's the complex math (stochastic calculus and PDEs) that attracted me to this line. I've just finished a premasters diploma in mathematics and I'm meant to start the MSc in october. Was really hoping to move back to Nigeria after my MSc, but at this rate I might have to wait a while (grow confidence in the application of the skills but Lord knows I'm tired of not being in Lagos...but if it has to be done). I'm hoping to come to Nigeria for a brief spell from July to September, would like to gain some work experience as well, mehn finding job in the diaspora no easy at all especially in this field, competition is mental. I should make use of some of the links provided in this thread, if there's any extra assistance it would be much appreciated as well.

Start with CFA. Pass all the 3 levels and you will have all the skills you need to perform at an acceptable level in the Nigerian financial sector.

Quant is generally a dying field thanks to the recession. Banks in the UK n US are no longer doing the complex and silly credit derivatives that nearly ran the whole world bankrupt.

The really cool stuff you will learn or do as a quant is in interest rate modelling and probably structuring credit products.

Nigeria is no way near ready for credit derivatives of the complexity of things like CDS . .

Also there is no point modelling interest rates since interest rates in nigeria are usually very stable.

So my friend. i don't wanna discourage you about the msc but it will be useless in nigeria now and for many years to come.

candylips:

Dude I have a similar profile as you

Interesting! Are you a quant in naija?

T22

tanimola22:

Interesting! Are you a quant in naija?

T22

I was editting my post when u replied

No am not doing quant work in Nigeria, but i was into quant development in the uk (worked in UBS,RBS and Morgan Stanley) .

Right now am just concentrating on chopping oyel money

candylips:

I was editting my post when u replied

No am not doing quant work in Nigeria, but i was into quant development in the uk (worked in UBS,RBS and Morgan Stanley) .

Right now am just concentrating on chopping oyel money

Way to go omo oba. oyel money, kosorogun, no rival!

T22

Hello all. Stumbled on and been through the thread and I must say I'm greatly impressed with all with the help that's been offered and all. I'd like to ask for a request. I'm a graduate of economics with a 2:1 and a masters degree holder of finance n investment from pretty good school in UK. I'd like to break into the investment banking sect. Any ideas where or whom I can meet up with possible aptitude test n recruitment. Iv tried sevral but nothings forthcoming. Iv been back home from my masters since sept and yet nothing at all. Pls I implore you help as I'm very well getting depressed and goin out of my mind. I'd really be glad with any sort of assistance. Thanks

Quant Finance is not all about credit derivatives, stochastic calculus, interest rate derivatives and the likes. Quant Finance takes a rather more mathematical perspective to Finance. It gives one an edge in a variety of areas in finance be it equity research, fixed income, private equity, hedge funds and whatever you can imagine that involves taking a more quantitative approach. I beg to disagree that it is a dying field. Quant Finance is seriously employed in risk management of any kind of instrument. Credit derivatives may have slowed down as a result of its abuse leading to the financial crisis especially by those who lack a comprehensive knowledge of the risks embedded in those complex structures. If you have a passion for quant finance (Financial Engineering), please go for it as quant finance has a variety of applications in finance including equity research, fixed income, private equity, hedge funds, etc. Risk Management (which is a part of quant finance) has become the in-thing and an emerging field that has come to stay. My advice is to pursue a masters in Financial Engineering and also enrol in the CFA program to improve your investment management skills, you will also need the FRM/PRM to enhance your risk management skills as risk management is the field to be at the moment if you have a quant background and are interested in risk management.

Utonne: Hello all. Stumbled on and been through the thread and I must say I'm greatly impressed with all with the help that's been offered and all. I'd like to ask for a request. I'm a graduate of economics with a 2:1 and a masters degree holder of finance n investment from pretty good school in UK. I'd like to break into the investment banking sect. Any ideas where or whom I can meet up with possible aptitude test n recruitment. Iv tried sevral but nothings forthcoming. Iv been back home from my masters since sept and yet nothing at all. Pls I implore you help as I'm very well getting depressed and goin out of my mind. I'd really be glad with any sort of assistance. Thanks

UK again!! 15k pounds Anyway, don't mind me, I can give helpful suggestions. Please don't be depressed...

Let's start with the first and second questions, have you written any test yet? Did you work in finance before your master's?

T22

RixExpat: Quant Finance is not all about credit derivatives, stochastic calculus, interest rate derivatives and the likes. Quant Finance takes a rather more mathematical perspective to Finance. It gives one an edge in a variety of areas in finance be it equity research, fixed income, private equity, hedge funds and whatever you can imagine that involves taking a more quantitative approach. I beg to disagree that it is a dying field. Quant Finance is seriously employed in risk management of any kind of instrument. Credit derivatives may have slowed down as a result of its abuse leading to the financial crisis especially by those who lack a comprehensive knowledge of the risks embedded in those complex structures. If you have a passion for quant finance (Financial Engineering), please go for it as quant finance has a variety of applications in finance including equity research, fixed income, private equity, hedge funds, etc. Risk Management (which is a part of quant finance) has become the in-thing and an emerging field that has come to stay. My advice is to pursue a masters in Financial Engineering and also enrol in the CFA program to improve your investment management skills, you will also need the FRM/PRM to enhance your risk management skills as risk management is the field to be at the moment if you have a quant background and are interested in risk management.

I am sure the OP would find your submission helpful. By the way, do they employ a thoroughly mathematical approach to risk management in naija? Because heads of risk management departments in naija are mostly accounting or banking and finance graduates.

T22

RixExpat: Quant Finance is not all about credit derivatives, stochastic calculus, interest rate derivatives and the likes. Quant Finance takes a rather more mathematical perspective to Finance. It gives one an edge in a variety of areas in finance be it equity research, fixed income, private equity, hedge funds and whatever you can imagine that involves taking a more quantitative approach.

When you take out interest rate modelling, credit default swaps and stochastic calculus. I bet you a graduate engineering kid can handle all the quantitative stuff you throw at him without breaking any sweet.

Also taking out all these things makes it less appealing because these are the areas you get to do the really cool sexy stuff

RixExpat: I beg to disagree that it is a dying field. Quant Finance is seriously employed in risk management of any kind of instrument. Credit derivatives may have slowed down as a result of its abuse leading to the financial crisis especially by those who lack a comprehensive knowledge of the risks embedded in those complex structures. If you have a passion for quant finance (Financial Engineering), please go for it as quant finance has a variety of applications in finance including equity research, fixed income, private equity, hedge funds, etc. Risk Management (which is a part of quant finance) has become the in-thing and an emerging field that has come to stay.

There is a difference btw working as a "Quant" and doing quantitative finance. "Quant" as a career is dying and paving the way to risk managers but obviously risk managers use quantitative techniques to measure risk .

Risk management traditionally has been a conservative middle office function.

tanimola22:

I am sure the OP would find your submission helpful. By the way, do they employ a thoroughly mathematical approach to risk management in naija? Because heads of risk management departments in naija are mostly accounting or banking and finance graduates.

T22

Guy am sure they have some software running some sort of monte-carlo simulations to determine their Value at Risk.

Even though some of those guys are finance graduate, they would have done FRM or PRMIA so they would understand the techniques . . . no big deal.

The only complexity i see in risk management comes when you have credit or equity derivatives in your portfolio and you wanna calculate VaR. Now you will need to do stocastic calculus to model your Interest rates and your options, do probablity to calculate default probablity for your CDS and also try to figure out some of the variables in your black scholes equation

But nigeria has none of these stuff so risk management will be so easy to do even an accounting graduate wouldnt have a problem

Thanks so much Tanimola. Yeah iv written Ren cap test but to no avail. Wrote Gtb as well and I was 3 marks away from the cut off at the 2nd test. Just wrote FCMB. Did a 2nd test n awaiting response. As for any financial institutions... Not at all. Iv submitted my cv online but nothing at all.
Yes I have work experience. Prior to my masters I worked in Intercontinetal bank during my service n was retained. Worked for about 2years. I really am getting depressed about it all.

Utonne: Thanks so much Tanimola. Yeah iv written Ren cap test but to no avail. Wrote Gtb as well and I was 3 marks away from the cut off at the 2nd test. Just wrote FCMB. Did a 2nd test n awaiting response. As for any financial institutions... Not at all. Iv submitted my cv online but nothing at all.
Yes I have work experience. Prior to my masters I worked in Intercontinetal bank during my service n was retained. Worked for about 2years. I really am getting depressed about it all.

Ahan, you are trying now. You are making progress, at least in my view. Could you friend me so that we can start communicating from there? I want to suggest you some customized stuff.

Thanks,
T22.

candylips:

Guy am sure they have some software running some sort of monte-carlo simulations to determine their Value at Risk.

Even though some of those guys are finance graduate, they would have done FRM or PRMIA so they would understand the techniques . . . no big deal.

The only complexity i see in risk management comes when you have credit or equity derivatives in your portfolio and you wanna calculate VaR. Now you will need to do stocastic calculus to model your Interest rates and your options, do probablity to calculate default probablity for your CDS and also try to figure out some of the variables in your black scholes equation

But nigeria has none of these stuff so risk management will be so easy to do even an accounting graduate wouldnt have a problem

Okay, that should somewhat trivialize the process for them. Luckily we don't have derivatives in naija, so anybody can do the work.

T22

candylips:

When you take out interest rate modelling, credit default swaps and stochastic calculus. I bet you a graduate engineering kid can handle all the quantitative stuff you throw at him without breaking any sweet.

Also taking out all these things makes it less appealing because these are the areas you get to do the really cool sexy stuff




There is a difference btw working as a "Quant" and doing quantitative finance. "Quant" as a career is dying and paving the way to risk managers but obviously risk managers use quantitative techniques to measure risk .

Risk management traditionally has been a conservative middle office function.

It still remains middle office, at least as far as I know.

T22

tanimola22:

Ahan, you are trying now. You are making progress, at least in my view. Could you friend me so that we can start communicating from there? I want to suggest you some customized stuff.

Thanks,
T22.

Thanks a lot. I'll do just that. Can I please get your email address. Would that be easoer or better. Thanks. So much... I appreciate

Utonne:

Thanks a lot. I'll do just that. Can I please get your email address. Would that be easoer or better. Thanks. So much... I appreciate

Okay, just put at yahoo dot com beside my username and then message me.

T22

Thanx RixExpat candylips and T22, okay now this has been enlightening, since i'm already on this part i'd see it through to the end, financial risk, financial engineering and advanced methods in derivatives pricing are some of the modules i plan to take over the course of the year, thats apart from fin math, c++ and all that, so i feel at the end i would be prepared for any situation i find myself in. I definitely intend on completing the CFA after i'm done with the masters(it is KEY), don't want to have too much on my table at a point in time, as i keep hearing people stay steady failing the exam. Never heard of the FRM or PRMIA, seems the exams keep piling up, but if it has to be done...