Jump to content
  • Eva Keogan
    Eva Keogan

    Sign in to follow this  

    The 21st Century Financial Services career

      Time to read: 4min

    Asset Management is undergoing such a radical upheaval that the norms of yesteryear are long gone. A new paradigm is needed for success in this still burgeoning, though challenging Financial Services environment.

     

    Asset Management has historically been a sector with very low attrition and slow career progression. Senior management has tended to be in post for a considerable time. In the wider Financial Services industry, people are wanting to more proactively manage their careers and move from institution to institution in a shorter period of time. The ‘new career’ is not a life-long commitment to one particular firm or career route, and this is slightly out of kilter with the standard form within Asset Management.

     

    This is a big challenge for individuals. Line managers are still looking at how many different roles a candidate has had over the last ten years or so. They see three as a big issue, when in reality, that is not an issue in other sectors – moving around often results in candidates who have more diverse exposure to different topics and desired areas of expertise, and a better ability to learn and adapt. This characteristic plays directly into the ‘diversity of thought’ aspect of new external candidates, which is a direct benefit. On the other side, companies are now also having to adapt to the reality that knowledge is now more at risk of walking away.

     

    In terms of enabling these new career paths for Financial Services professionals, the onus is on the individual to ensure that they are up-to-date with knowledge and Continuous Professional Development (CPD).

     

    So how does this translate to any kind of career mobility or ‘gig economy’ evolution in Asset Management and its ecosystem?

    The ‘rumour market’ for new roles is highly fragmented. The candidate has to be in touch with a lot of head-hunters and recruiters to access the broad number of companies for which their talents and skill-sets may currently be in demand; the hunt becomes almost a job in itself.

     

    Traditional recruitment agencies are generally focused on specific industry sectors and not cross-fertilisation of external industry sector candidates. The established players do not tend to consider accumulated skills, or even aspirations to broaden a candidate’s career horizon, beyond that of their retrospective CV.  As a result, a valuable talent pool may be lost to the wider Financial Services sector due to recruitment agency’s inability to handle or manage the demands for ‘diversity of thought’ into sectors such as Asset Management. The candidate becomes more frustrated too.

     

    Job seekers using generic platforms such as LinkedIn, recruitment and head-hunting agencies are crying out for a smarter and relevant way to market their skillset to potential employers. The only way forward is to disrupt the status quo and innovate; this is where AlgoMe comes in. It’s a solution for industry players and outsiders who have valuable transferable skillsets, as well as the organisations who seek them.

     

    AlgoMe provides tools to tailor job searches and appointments to match specific needs and skillsets to potential employers using algorithms and smart technology. Additionally, it provides the access to mentoring and learning support on the platform too, creating a unique and new way for people to manage their careers now and in the future.

     

    New regulations such as MiFID II; agile management systems such as DevOps and SaaS; and changes in investment and distribution strategies (e.g. team-based investing) will transform Asset Management. It will move from a passive sector into a new burgeoning crucible of activity.

     

    The diversity of personnel set to enter the sector will create a paradigm shift in attitudes as well as systems and processes. This will make it a highly-attractive area for professionals to consider in their planned career moves around the Financial Services sector and possibly beyond. Making these life-changing transformations more successful is the remit of new smart tools such as those offered by AlgoMe, which is at the forefront of this paradigm shift making the search for a successful career move a lot easier than ever before.



    Sign in to follow this  

    • Share this    
    Share this  

    Member Feedback



    Recommended Comments

    Be the first to comment.

    Become a member to read more and join the discussion

    Members can read and contribute to discussions

    Apply

    Register now for free access.

    Create your account

    Sign in

    Already a member? Sign in here.

    Sign In Now

  • Related Content

    • AlgoMe
      By AlgoMe
      Navigating Chaos: Compliance Agility in a Dynamic Regulatory Environment
      CLAUSEMATCH.COM ClauseMatch Quarterly RegTech events  
    • AlgoMe
      By AlgoMe
      The Investment Association, and its FinTech innovation and accelerator hub, invite you to the last TechTalk of 2019 to explore RegTech's latest challenges and innovative solutions for the investment management industry.
       
      https://www.theia.org/events-training/event?eventtemplate=253-techtalk-regtech-in-investment-management&event=512
    • AlgoMe
      By AlgoMe
      Biological ecosystems are complex, interconnected, and require a holistic contextual awareness of the intricacy in interconnectedness as an integrated whole, rather than a dissociated collection of systems and parts. Change in one area has cascading effects that impact the entire ecosystem.

      This interconnectedness and demand for 360° contextual awareness apply to the world of compliance in context of regulatory change management. Organisations need to see the intricate interrelationships of regulatory change and its impact on policies, objectives, risks, and boundaries of the organisation.

      Join us for an evening of discussion, networking and entertainment as Michael helps us explore how to define strategy and process for regulatory change management that is driven by intelligent information and technology.
       
      Navigating Chaos: Compliance Agility in a Dynamic Regulatory Environment
      CLAUSEMATCH.COM ClauseMatch Quarterly RegTech events  
       
    • Andy Milner
      By Andy Milner
      Much has been written about the benefits of a diverse and inclusive working environment, in terms of improving productivity, increasing staff retention and harnessing the advantages that come with cognitive diversity.
       
      However, the Investment Management Industry still suffers from a perception as one of the more old fashioned and less inclusive parts of the City - despite recent advances such as an increasing involvement in Pride.
       
      As with any minority group, it’s important to listen to the real-world experiences of LGBT+ professionals to gain a better understanding of the issues they face, and the establishment of InterInvest, a LGBT+ network for Investment Management, has been a significant step is bringing this community together.
       
      The risk of any such network is that it becomes an echo chamber where good ideas are generated but fail to penetrate outside of.
       
      Earlier in October InterInvest took a step towards moving the conversation into the wider industry, by holding the first of their “Employee Lifecycle Forum” events, aimed at bringing recruiters, HR managers and others into the room.
       
      By not only discussing the state of LGBT+ diversity in the industry (thanks to a presentation by Matt Cameron from LGBT Great), but by using the time to bring mixed groups together to brainstorm ideas, the event felt like it had a real possibility of kick starting changes in the industry.
       
      Here’s to bringing more people in on the discussion.
    • Andy Milner
      By Andy Milner
      An interesting takeaway from a recent report suggests that instead of a "glass ceiling" it could be a "broken rung" at the first step of the management ladder that is more responsible for holding back gender diversity.
       
       

       
      Well worth a read:
       
      Women in the Workplace 2019: The State of Women in Corporate America
      LEANIN.ORG More women are rising to senior leadership. But to get to gender, companies need to focus their efforts at the first step up to manager—the "broken rung."  
Debug
Debug info:
You may be asked to provide the below information to an AlgoMe administrator if you are facing any problems with the app:
appcms
modulepages
controllerpage
topics/forum ID36
page ID
PHP user agentCCBot/2.0 (https://commoncrawl.org/faq/)
ThemeAlgoMe v2.1.5
Mobile appNO
Member ID
×

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.