Industry Obstacle
Monday, November 30th, 2009So everybody knows I’m deep in the job hunt and sweating it out a bit.
I’m looking for the solution to my primary obstacle. I used to think it was the fact that I spent a year day trading before I’d started looking. But now I know that’s not really it (not that it greases the way so well.)
I’ve been working in the financial industry, usually as a contractor, since my contract at IBM expired in 1998. I’ve worked in Equities, Fixed Income front and middle office, and briefly at NYMEX (Commodities exchange.) So I’m fluent in the kinds of things that happen. I understand how these massive architectures work at a whiteboard level.
But as for deep business-level knowledge of individual issues and instruments? Nada. Sure, I know I worked on a system to trade CMOs, HELOCs, CMBS, CDOs, and on and on. But I couldn’t tell you what happened to the thing once the trade was in the back office. We just would receive confirmation/adjustment/cancellation information and post it to the gui again.
I’ve written a FIX protocol engine from scratch. But that’s a business neutral thing. I sure know how the message is formatted, how sequencing and recovery works. Why it’s reliable and why, before version 4.2 is was a technically vague spec that was subject to interpretation.
But the conversation types? How you respond to a request for allocation information on a large trade? Beats me, I’m the protocol guy. I make the thing the messages travel through, make sure the connection is reliable and manage the accounting to provide the business logic guys with queries and data as appropriate.
See, computers don’t know you’re working with financial data. And once you take away the smokescreen of the symbol names, neither really does the software. In fact, the only reason the programmer needs to know at all is to listen to what the system’s customers (the users) want, then abstract the behavior of those details out of the collected information to create maintainable, safe, runnable systems.
But having bounced all over the industry sub-groups the way I have leaves me in this strange position. I have the technical skills in spades for this stuff. I really do. But when someone says in the job rec they need an equity derivatives guy… that’s not me. If they need someone who understands how traunching works in commercial paper as opposed to a project loan… that’s not me either.
With exceptional frequency I do very well once I sit down in front of someone. If they need me to buy a Fabozzi book and know a bunch of new stuff by Monday, I can do pretty damn well. I soak up knowledge with exceptional rapidity.
But with the market the way it is, getting that initial interview seems a Sisyphean task.
Any ideas how to overcome that?

