RecordMove

Credit risk analyst to foreign exchange trader

A credit risk analyst already meets 29% of what the foreign exchange trader role asks for. The move turns on 8 required skills not yet in the profile.

Fig. 1 · Skill transfer ESCO v1.2.1 · directional

From credit risk analyst

Distant match

To foreign exchange trader

6 You already bring

8 Still to learn

29 Skills in the target role2

Learning distance Substantial retraining

65.8/ 100

adjacentmoderatesubstantialcareer change

1 How much of what a foreign exchange trader is expected to do is already part of a credit risk analyst’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the foreign exchange trader role is recorded as needing, required and optional together. What these numbers mean.

Why

Why this move works

A foreign exchange trader role treats 5 of its required skills as things a credit risk analyst already does. You would walk in with these on day one.

analyse financial risk
analyse market financial trends
economics
financial jurisdiction
manage financial risk

What stands in the way is 8 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.

Table 2

Table 2 · What you already bring

Of the 6 skills that carry over, these are the ones fewest other occupations ask for. A foreign exchange trader role needs them, and most people applying for one will not have them already. This is the part of a credit risk analyst background worth leading with.

Skill the target role also needs Area

already held financial jurisdiction business, administration and law
already held economics social sciences, journalism and information
already held analyse market financial trends information skills
already held analyse financial risk information skills
already held manage financial risk information skills
already held international commercial transactions rules business, administration and law

All 6 carried skills, including the 5 the foreign exchange trader role treats as required.

Table 3

Table 3 · What you may need to learn

The 23 missing skills fall into 5 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.

Skill to pick up Tier

01 business, administration and law 3 required, 6 supplementary

still to learn commercial law required
still to learn foreign valuta required
still to learn financial markets required

optional, not held accounting optional
optional, not held banking activities optional
optional, not held financial products optional
optional, not held international trade optional
optional, not held securities optional
optional, not held stock market optional

02 information skills 3 required, 4 supplementary

still to learn analyse economic trends required
still to learn forecast economic trends required
still to learn perform financial risk management in international trade required

optional, not held maintain records of financial transactions optional
optional, not held monitor stock market optional
optional, not held perform stock valuation optional
optional, not held trace financial transactions optional

03 communication, collaboration and creativity 1 required, 2 supplementary

still to learn trade foreign currencies required

optional, not held advise on financial matters optional
optional, not held trade securities optional

04 management skills 1 required, 1 supplementary

still to learn handle financial transactions required

optional, not held operate financial instruments optional

05 natural sciences, mathematics and statistics 2 supplementary

optional, not held actuarial science optional
optional, not held statistics optional

Table 4

Table 4 · Where to start

The 3 entries a foreign exchange trader role is least likely to hire without. The ordering is computed from the skill data, not from what pays.

Each entry opens a course search for that skill. Career Overlap earns nothing from these links.

Appendix

Appendix · The rest of the record

All 6 skills that carry over

Skill Type

already held analyse financial risk skill
already held analyse market financial trends skill
already held economics knowledge
already held financial jurisdiction knowledge
already held manage financial risk skill
already held international commercial transactions rules knowledge

15 supplementary skills, helpful but not required

Skill to pick up Tier

optional, not held actuarial science optional
optional, not held accounting optional
optional, not held advise on financial matters optional
optional, not held banking activities optional
optional, not held financial products optional
optional, not held international trade optional
optional, not held maintain records of financial transactions optional
optional, not held monitor stock market optional
optional, not held operate financial instruments optional
optional, not held perform stock valuation optional
optional, not held securities optional
optional, not held statistics optional
optional, not held stock market optional
optional, not held trace financial transactions optional
optional, not held trade securities optional

34 held skills the foreign exchange trader role does not ask for

Skill Type

not needed by the target role Monte Carlo simulation knowledge
not needed by the target role advise on risk management skill
not needed by the target role analyse the credit history of potential customers skill
not needed by the target role apply credit risk policy skill
not needed by the target role apply credit stress testing methodologies skill
not needed by the target role apply information security policies skill
not needed by the target role apply statistical analysis techniques skill
not needed by the target role assess risk factors skill
not needed by the target role assessment of risks and threats knowledge
not needed by the target role carry out statistical forecasts skill
not needed by the target role create risk maps skill
not needed by the target role create risk reports skill
not needed by the target role create solutions to problems skill
not needed by the target role debt collection techniques knowledge
not needed by the target role deliver visual presentation of data skill
not needed by the target role enforce customer's debt repayment skill
not needed by the target role financial analysis knowledge
not needed by the target role financial forecasting knowledge
not needed by the target role financial management knowledge
not needed by the target role have computer literacy skill
not needed by the target role information confidentiality knowledge
not needed by the target role inspect data skill
not needed by the target role manage currency exchange risk mitigation techniques skill
not needed by the target role negotiate sales contracts skill
not needed by the target role perform data analysis skill
not needed by the target role prevent fraudulent activities skill
not needed by the target role produce statistical financial records skill
not needed by the target role risk identification knowledge
not needed by the target role risk management knowledge
not needed by the target role risk transfer knowledge
not needed by the target role show diplomacy skill
not needed by the target role speak different languages skill
not needed by the target role teamwork principles knowledge
not needed by the target role write work-related reports skill

11 gaps that are knowledge rather than practice

Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.

Skill to pick up Tier

still to learn commercial law required
still to learn foreign valuta required
still to learn financial markets required
optional, not held actuarial science optional
optional, not held accounting optional
optional, not held banking activities optional
optional, not held financial products optional
optional, not held international trade optional
optional, not held securities optional
optional, not held statistics optional
optional, not held stock market optional

Index

Other moves recorded from credit risk analyst

Full index of moves from credit risk analyst

FAQ

Common questions about this move

Can a credit risk analyst become a foreign exchange trader?

Yes, and it is a substantial move. A credit risk analyst already covers 29% of what a foreign exchange trader is expected to do: 6 skills carry over, 5 of which the foreign exchange trader role treats as required.

What skills does a credit risk analyst need to become a foreign exchange trader?

8 required skills are missing, plus 15 optional ones. They fall into 5 areas of the ESCO skill hierarchy, led by business, administration and law. The single most important is commercial law.

How hard is the move from credit risk analyst to foreign exchange trader?

Its learning distance is 65.8 out of 100, which is the substantial band. That accounts for both how much is missing and how specialised those skills are.

Note

How this record was compiled

Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.