Stuck in the Middle: Would taking a risk job risk ruining my career?

In recent weeks, I have been approached by one of the big four banks about the prospect of moving into the risk side of its business.

I will freely admit that I have not actually worked in risk before, although my more recent experience does lend itself to a career in this division. That being said, my previous role overseas had a much greater emphasis on the client - it was more or less a front-office position. And to be completely honest, I've always intended to get back into a client-facing banking role.

The problem, however, is that credit markets remain tight, counterparty risk remains high, and front-office positions have taken a hit accordingly. These types of jobs are just not that easy to get in Australia these days, particularly when you're still trying to rebuild your contact base after half a decade abroad.

So in the meantime I am toiling away as an analyst, doing what needs to be done to get through the after-effects of the GFC.

Nevertheless, we all have ambitions. So when a major bank asks me to apply for a very well paying risk position, it throws my plans (hopes?) into disarray.

Worth the risk?

There is little doubt that banks are now placing more emphasis on risk, and this is not just apparent in the greater number of opportunities out there, but also in the improving pay packets. Indeed, it seems risk employees are no longer shunned within the banks like they used to be.

However, I sit here writing today wondering if the old banking adage "once in risk, always in risk" still applies. I know it can be difficult to move out of risk once there, or at least that's how it used to be.

This may be because of typecasting or personality types, or a perceived lack of business-generation and client-management abilities amongst the risk ranks. But regardless of the 'why', I do have good friends who have worked in risk and have been pigeonholed thereafter.

So is moving into risk for more money and better job security (compared with my current contract work), worth the, errr, risk of being stuck in that sector evermore?

Look, I could be wrong about this - times have changed after all. However, my suspicion is that if I took a risk job, my dreams of ever obtaining another front office-role would be dashed.

That being said, perhaps the banks are looking to invest heavily in their risk teams and the rewards that come with this will still give me career flexibility if I want a front-office job in the future.

Either way, the whole process is food for thought, and any decision will not be lightly made.

What would you do in my position? Let me know below.