What exactly does a hedge fund manager do?

What are the best ways to become a senior risk manager at a hedge fund?

• I read on the Internet that the best way was to be acquainted with a manger, but is it possible to become a senior risk manager by being promoted through the junior ranks?

• Answer:

  I think that the paths to becoming a senior risk manager are to start as a junior person in a risk management team and work your way up (or apply to another company that has a vacancy), being a portfolio manager or other senior person at the fund who clearly understands risk and works well with the rest of the company but is not generating profits directly / doesn't want to trade day-to-day, or someone who used to run an entire (smaller) fund joining a larger fund a risk manager.  Knowing the principal of a fund can help with getting an interview, but other than that, people who run large funds are smart enough to hire based on merit.