Position: Head of Interest Rates Group
I work on the banking side of the BIS, which is a profit-oriented department within a non-profit-oriented institution. My team is responsible for pricing deposits and tradable instruments for our customers, and placing the proceeds to maximise return while hedging risks. It's similar to what treasuries do in commercial or investment banks. Credit and market risk limits are set externally, and my challenge is to optimise performance within those constraints.
When I joined the BIS from DWS, the asset management arm of Deutsche Bank, I really didn't know all that much about the organisation. I was mainly looking for a change from my working location of Luxembourg, where I'd been for seven years since leaving university. I could have gone to London, where there was a chance to make a lot of money, but friends who went there said they didn't have a good work/life balance and really couldn't enjoy life to the full.
The BIS in Basel is ideal for me: we all work hard, but we get time as well to enjoy life. Basel is a relatively small town. However, it's got a lot to offer for its size and the location is perfect for travelling and skiing. My life and career have evolved a lot since I moved here: I started in asset management in Basel, then moved into other areas of the business and spent two years in our Hong Kong office. That's one big advantage of the BIS: one can move around in the organisation. Another advantage is the access to senior management on a day-to-day basis.
It's also made a huge difference to my personal life: when I moved to Basel, I was single. Now I'm married with two children, and I met my wife right here! So in every sense, it's been a really positive move for me.
"I started in Basel and later spent two years in our Hong Kong office. That's one big advantage of the BIS: one can move around in the organisation."
Oliver Schmidt
Head of Interest Rates Group
