Jump to content
  • Luuk Jacobs
    Luuk Jacobs

    Sign in to follow this  

    Have your say: Investment Management, Fintech and the future of careers

    The survey is now closed - thanks to all who participated. Keep an eye out for the results on AlgoMe Community soon.

     

    With Investment Management being increasingly impacted by the growth of FinTech, the industry needs to better understand how people feel about these changes. 

     

    We would appreciate you completing our short survey, and sharing it with your friends and colleagues. We will publish the results in the community in the near future.

     

    • Share this    
    •  
    •  
    •  
    •  
    •  

      Share this  

     

     

    If you have any issues you can also complete the survey here

    • Like 1


    Sign in to follow this  

    Share this  

    Member Feedback



    Recommended Comments

    Andy Milner

    Posted

    Our survey is going to be closing soon, so if you haven't had the opportunity please spend a couple of minutes to make sure your voice is heard. Thank you!

    Share this comment


    Link to comment
    Share on other sites
    Share this  

    Become a member to read more and join the discussion

    Members can read and contribute to discussions

    Join us

    Register now for free access.

    Create your account

    Sign in

    Already a member? Sign in here.

    Sign In Now

  • Our picks

    • With the decorations up, the last order date for Amazon nigh and most of us looking forward to at least a few days break, it’s always a good time to take stock of what’s been achieved over the last 12 months.
       
      For AlgoMe this has been another exciting year.
       
      January started in style with the launch of the AlgoMe Careers mobile app – giving professionals the opportunity to find their next career opportunity on the move.
       
      Then in July we released our Industry Pulse Report – a check on what the industry was thinking about key topics such as Brexit, Pay Gap Reporting, MiFiD II and GDPR. Unfortunately it seems that the uncertainty that the industry was feeling due to Brexit is unlikely to have receded in the intervening period, but it’s good to see progress starting to be made in other areas such as gender and diversity.
       
      In September we launched AlgoMe Community – a place for the Investment / Asset Management industry to come together, providing professionals with ways to grow their knowledge, profile and network. We’d like to say a big thank you to all of the members that have joined and contributed and look forward to continuing growth in 2019.
       
      In November AlgoMe joined the Investment Association, becoming a Fintech member and working closely with Velocity, the Association’s new Fintech accelerator. This is a really exciting initiative and we’re looking forward to doing more with Velocity in the near future.
       
      We also launched our Mentoring matching service in November – designed to help AlgoMe Community members connect with the best individuals within the community to help them to reach their career goals using a simple but intelligent process. If you haven’t already signed up to be a mentor or a mentee, please do spend 5 minutes now and tick off a New Year’s Resolution early.
       
      As we go into the end of the year, we have also launched our survey on Investment Management, Fintech and the future of careers. The impact of Fintech on the industry is going to accelerate rapidly in 2019, but what has been less well documented is the impact on individuals, their careers and the skills they’ll need to succeed in a more digitised environment. We really value the input of our community members, so please spend a couple of minutes filling out the survey and we’ll make sure you’re the first to hear the results early next year.
       
      From me and the AlgoMe team, I wish you all a very happy holiday season and look forward to another year of exciting announcements and change in 2019.
       
      Rob
       
        • Like
      • 0 replies
    • I have always struggled to see a fair reason why employers should be allowed to ask about a potential hire’s current remuneration, other than to give them an advantage in pay negotiations.
      It’s something which can only exacerbate existing pay inequalities and  it’s abolishment can surely only be a positive thing.
      Here the Guardian argues specifically about its impact with regards to the gender pay gap:
      https://www.theguardian.com/commentisfree/2018/aug/23/gender-pay-gap-current-salary-question
      I believe this has already been outlawed in some US states?
      @Jonathan Max - would be interesting to hear the view from HR. 
      • 10 replies
    • The Investment Association recently gave the industry a boost when it announced the launch of Velocity, its FinTech accelerator.  Designed to identify, develop and accelerate best in class firms with innovative solutions, Velocity will champion and facilitate the wider adoption of technology across the industry.
       
      And AlgoMe will be involved in this too, which is why I’m excited to announce we are now a member organisation of the Investment Association as an official FinTech member and have been named a "company to watch" by Velocity.
       
      Challenging Times
      The Investment Management industry faces major challenges and opportunities from forces such as digital technology, pressure on fees and increased regulation, while at the same time there are widespread changes in the workforce and their expectations.
       
      To date, Investment Management has both been fairly insulated from the challenges posed by agile FinTech competitors, but also distant from the opportunities offered by the new technologies and ways of thinking that such companies bring.
       
      Bringing FinTech closer
      Velocity is a fantastic step towards accelerating the adoption of FinTech. It has received support and endorsements from both inside and outside the industry, including from the Chancellor of the Exchequer, Phillip Hammond, who was enthusiastic about the initiative at a recent City event.
       
      To drive change and innovation, the industry needs to connect across different disciplines and areas of expertise, driving new ways of thinking and fostering cultural change.
       
      Without the benefit of emerging FinTechs and their external expertise, it will be hard for incumbents to harness the benefits of emerging technologies such as Straight Through deal Processing (STP), Distributed Ledger Technology (DLT), and Artificial Intelligence (AI) in areas such as risk and compliance, securities trading and investment decision making.
       
      Our Mission
      AlgoMe's mission is to connect the Investment Management industry and empower professionals to manage their careers. Our new product, AlgoMe Community, is placed to become the hub for the discussion between FinTechs and the companies and professionals in the wider Investment Management ecosystem.
       
      Join AlgoMe Community today
       
      AlgoMe Community - community.algome.com
        • Like
      • 0 replies
  • Categories

  • Related Content

    • Luuk Jacobs
      By Luuk Jacobs
      The FCA published last week it's Research Agenda for 2019 (2019 fca-research-agenda.pdf). Their focus will be on
      household finance and consumer behaviour
      household finance and consumer behaviour securities markets: microstructure, integrity and stability competition, innovation, and firm behaviour and culture technology, big data, and artificial intelligence regulatory efficiency and effectiveness  
      The 3rd objective seems to bring the discussion previously focussed on pricing in general to the more sophisticated pricing which increasingly uses technology and big data to set prices, and often use predictive analytics to personalise prices. 
       
      The 4th objective aims to better understand how the developments in technology, big data, and artificial intelligence are shifting market economics, the resulting benefits and harms and implications for regulation.
       
      All this with the aim to ensure that their regulatory interventions achieve their objectives of making efficient use of their and industry’s resources. From an external perspective, they want to achieve a regulatory regime that promotes and supports effective financial markets while minimising their costs to society.
       
      I am looking forward to their research outcomes and the future regulations that is designed on the back of it
    • Luuk Jacobs
      By Luuk Jacobs
      We partnered with Imperial College Business School for a panel discussion about the Impacts of FinTech to careers in Investment Management. We were keen to marry up the collective experience of the panel, and their insights and views, with the audience. Equally we wanted to get a feel for what the next generation of Investment Management professionals should set in their sights.  
        
      Based on the findings from our soon to be published report The Disrupted Career - FinTech, Investment Management and future careers, we created a truly interactive debate as we put the questions we used in our survey to our audience, enabling to give real-time feedback via the AlgoMe Community mobile app. 
        
      The panel consisted of Rob Carter, CEO, AlgoMe and Ruben Lara, Chief Data Officer, Standard Life Aberdeen, and Henrik Grunditz, Co-Founder & Chief Revenue Officer, Hivemind, a FinTech that is helping companies create value from complex data sets. The Moderator was Anne-Louise Burnett, Centre Manager, Imperial College Business School Centre for Global Finance & Technology. 
       

       
       
      The key questions that were discussed were: 
       
      Do I understand typical career paths in Investment Management? 
       
      The combined experience of our panel is both lengthy and varied. For example, moving from working within an investment company, joining a consulting company and also joining other industries where core skills are transferable (eg. within data science), indicated that careers are fluid and certainly not predefined. The key trend however was all the panel members, throughout their careers. kept developing and adding to their skillsets. 
       
      Are career paths less well defined due to the changes happening in the industry? 
       
      There was a general view that indeed career paths are now less well defined than before, and technology and general innovation were changing these paths as existing positions in the industry will likely be displaced by other new ones. The new careers demand an understanding of data and how they can be leveraged to create efficiency, greater understanding of clients, investments and decision making. As the technology impact is just starting to hit the Investment Management industry, career paths will be impacted in the next 10 years to a great extent, beyond what we imagine today. Some research indicates that 90% of today’s jobs will not exist in 10-15 years.  
       
      What skills will be the most important to develop careers in Investment Management? 
       
      As already mentioned, skills linked to data science will be important. Along with this, the ability to interpret what it presents, to further support risk management, controls, understanding of clients and trends in the market as well as supporting (investment) decision making. These skills will be in demand for both junior and senior positions and given the technology developments ahead of us will likely change and become more complex. 
       
      What will, and what can, you do to progress your career? 
       
      The panel indicated that if they were looking at their 20-year younger self, they would not have seen themselves in the positions they are today. Nevertheless, a key ‘red line’ through their careers was the development of their main professional interest and continuously developing the associated skills, be it business management, data and analytics, or information systems engineering. All equally being influenced by the need of these aforementioned hard technology skills. 
       
      Rob Carter stressed the value of having mentors throughout your career, people that can guide you and hold a mirror up for you. Hendrik Grunditz mentioned the benefits of networking, staying in touch with people and create a reputation of being nice, delivering constant high quality and be committed. Ruben Lara added to this the need for the softer skills and ability to influence, manage stakeholders and communication. 
       
      We believe the Investment Management professional career is about to change direction, and for some this will be a radical change. It seems everyone is in agreement and there are very exciting times ahead, especially for those with a passion for technology and change. 
       
    • Luuk Jacobs
      By Luuk Jacobs
      With the role out of 5G started by EE in various UK cities, the mobile internet is promising to get much faster and being able to match the fixed line broadband. But it is not just a story of speed as this next generation mobile broadband network will equally spark the development and launch of new apps: from keeping track of vehicles and equipment around the country, to running complex networks of factory robots and autonomous systems capable of communicating with each other, or with a cloud-based control system in near real-time.
      So what does this mean in practise ? Think of healthcare and an ambulance will vie able to more reliable and sophisticated communicate with the hospital and send over medical data of the patient where every second counts. Autonomous driving will become more of a reality with the exchange between car and many other data.
      Phil Baulch, BT's CIO of corporate and public sector, says that, with the increasing availability of distributed edge computing systems where every device on the network is also a node in a compute cluster, "you can start to connect a city, you can start to connect everything in the home together. You can start to connect the supply chain to the factory to the distribution chain to the robotics in a house." 
      Around this hype of speed and improved connectivity, I would like to add some caution as in my experience the much hyped move from 3G to 4G has been underwhelming and often I still find my self with only 3G, even in London. Equally with the interconnection of whole cities, what does that do to security and confidentiality of data. Do we really want to give away all our personal data for the "greater" good. We like to think that in the internet of things everything is for free, but the short history has learnt that we pay a dear price for the data we (unconsciously) provide.
    • Julia Kirkland
      By Julia Kirkland
      Guest blog from Julia Kirkland, Senior Partner at FSTP
      If you don’t know already, which of course you do, the Markets in Financial Instruments Directive (MiFID) is EU legislation which first came into effect in 2007. It was created to regulate firms providing services to their clients which are linked to ‘financial instruments’, these being shares, bonds, units in collective investment schemes and derivatives. In addition, it covers the venues where those ‘financial instruments’ are traded.
       
      Fast forward 10 years or so and we have an updated version – MiFID II. This includes the revised MiFID and a new Markets in Financial Instruments Regulation (MiFIR). January 3, 2018 is the day MiFID II must be implemented across Europe.
       
      Now we’re on the cusp of this deadline, the thorny and sensitive topic of Knowledge and Competence (K&C) is bubbling up as a major concern across the industry.  We’ve spoken with numerous firms in both the Asset Management and Wealth Management sectors and they have one thing in common; they’re all grappling with the assessment of competence of information providers.
       
      Who is in scope? 
      In Asset Management, this may cover a wide range of roles from sales teams, client services, broker servicing staff to Portfolio Managers (the really sensitive aspect of K&C). Managers may struggle with the fact they must tell a Portfolio Manager of 20 years plus who hasn’t got a formal qualification, they need to be assessed as competent and in a very short timeframe too.
       
      In Wealth, the scope may cover desk assistants, team secretaries and portfolio assistants who may all be in direct contact with clients, giving them information about prices, valuations, charges and providing generic market or sector views. Additionally, research teams who might attend meetings with clients to provide market, sector or stock views on a non-advised basis may fall under this too. Most of the firms we are speaking to are including research teams. Most of the above staff members have never been included in formal K&C Schemes before but this has changed.
       
      What happens in 2018?
      As it stands, information providers not assessed by January 3 will need to be supervised in their activities and oversight of any client interaction must be in place. If you’re not prepared, January 2018 is fast approaching and maybe it’s time to look outside your company for third party support and assistance.
       
      Our guest blogger Julia Kirkland, is Senior Partner, FSTP
      FSTP is a training solution provider with expertise in MiFID II and the company also runs workshops to cover Wealth and Asset Management to meet the ESMA requirements and provides advanced K&C assessments for more seasoned, professional staff.
    • Andy Milner
      By Andy Milner
      Fintech Week is a series of conferences, exhibitions, workshops, hackathons, meetups and parties. Each day is focused on a different topic. The main conference/exhibition takes place in the heart of London.
       
      London Fintech Week 2019
      WWW.FINTECHWEEK.COM London Fintech Week is a multi-event series that includes a conference, exhibition, hackathon, workshops and meetups. The event has been growing strong for 6 years and attracts top decision makers, investors...  
Debug info for admin:
appcms
modulepages
controllerpage
topics/forum ID62
page ID
PHP user agentCCBot/2.0 (https://commoncrawl.org/faq/)
×

We use cookies to give you the best possible experience. If you continue, we’ll assume you are happy with this. For further information, see our Privacy Policy.