Any intel/experiences on the Vasara project and the people that run it?
I may look to transfer over and wanted to know if it's a good team to join
7 replies (most recent on top)
@v9 the clean pnl project is almost entirely operational: making sure data gets labeled correctly and numbers flow correctly from point a to b. Extremely little actual math or utilization of PhD level skills.
High level means quality. There are strong quants and dev working on the platform.
DK is good - very nice guy, good communicator. PK is a psycho. there is a cult of personality on the team around PK, and whatever he says goes, no questions asked or you get fired. It’s one way to manage a team I suppose… The real heads of a project are the people who fund it — in this case they are the heads of cib markets. They still seem on board with the project and believe it connects with growth plans. But always be aware that the whole thing can end with a pen stroke if they want.
@cr why is it tedious and mindnumbing?
Also by “high level” do you mean by their rank, or they are talented?
Also - how’s the leadership running the show (namely I understand it’s run by dk and pk)?
Vasara is a sh-tshow. The very definition of overpromised and underdelivered.
Vasara is meant to be the next generation platform for pricing and risk management of the trading book. Like all projects at Wells Fargo that involve data, it’s been a slow going and arduous journey, but there are really some high level developers and quants working on it. At the current moment most work is devoted towards “clean pnl” (it turns out wells currently has no fu--ing idea how market risk impacts its end of day pnl. Vasara is meant to fix that) it’s pretty high visibility project which means good job security for next year or two. It’s also the most tedious mind numbing project ever….
@a1 Like most Wells Fargo initiatives
@a1 ah i see... do you think there's a risk they can the project? From what I understand, it started about 8 years ago
it is a project going nowhere.