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Careers in Investment Operations

Careers in Investment Operations. Siân Lloyd MBA ASIP Chartered FCSI Senior Adviser Step into Financial Services, London: 27 th June 2012 www.cisi.org. Discussion Points. Overview of Investment Operations. Transaction Processing. Global Custody & Asset Servicing.

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Careers in Investment Operations

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  1. Careers in Investment Operations Siân Lloyd MBA ASIP Chartered FCSI Senior Adviser Step into Financial Services, London: 27th June 2012 www.cisi.org

  2. Discussion Points Overview of Investment Operations Transaction Processing Global Custody & Asset Servicing Investment Administration Global Custody Operational Risk Valuation and Performance Measurement Qualifications & Career Entry

  3. Investment Industry Basics The UK Investment Management Industry has over £4 trillion under management which is roughly split into: 2/3 institutional, pension fund & insurance mandates, and 1/3 retail assets (e.g. ISAs, unit trusts) & private wealth. Managers are expected to make the money grow! Efficient operational activities, robust and flexible reporting systems, and good risk management can make huge differences to performance, reputation and client retention Clients pay a small percentage fee for each service: investment management, custody, asset servicing and reporting, and trading. Operational activities may be conducted in: investment firms (often in a separate location); third party administrators; global custodian banks; broking firms; clearing houses; stock exchanges. Many are located outside London.

  4. Operational Activities Decision & Trade Execution Transaction Processing Global Custody & Asset Servicing Investment Administration Risk Management Data Management IT & Systems Management Pre & Post Trade Compliance Reconciliation, Reporting & Analysis

  5. Transaction Processing Decision & Trade Execution (investment manager or trader) Broker Investment Operations Clearing House Global Custodian (client’s bank) Matching & confirmation, implementing margin (if derivatives), settlement, registration of ownership, notification & reporting Risk Management Data Management Systems Management Pre & Post Trade Compliance Reconciliation, Reporting & Analysis

  6. Global Custody Global Custodian (client’s bank) Clearing Houses, Exchanges Investment Operations Clients Portfolio accounting; cash management; safe custody of assets; stock lending; corporate action & income processing; reporting to regulators, clients and investment management firms Risk Management Data Management Systems Management Pre & Post Trade Compliance Reconciliation, Reporting & Analysis

  7. Investment Operations Investment Operations Investment Managers Clients Global Custodian (client’s bank) Internal transaction processing; portfolio valuation & fund accounting; liquidity management; reconciliation with custodian’s records; performance measurement & analysis; daily internal reports; periodic regulatory & client reports Risk Management Data Management Systems Management Pre & Post Trade Compliance Reconciliation, Reporting & Analysis

  8. CISI Qualifications: Operations

  9. CISI QualificationsWhat do Operational Staff learn about? • Financial markets, instruments, products, systems • Overview of investment & economics theory • Role- ready knowledge of investment processes & risk management • Portfolio accounting and performance measurement • Where and how specific roles fit within the wider business • Industry rules and regulations • Clients: investment agreements and reporting requirements • Supervision and project management skills

  10. Careers in Investment OperationsWhat do I need? • Good A-levels and/or a degree in Maths, Business, Finance, IT, Accounting, Economics or another relevant related discipline • Professional, service- orientated attitude • Good reputation for “getting things done” (despite fluctuating workloads, conflicting priorities and tight deadlines) • Excellent communication skills • Appetite for analytical problem-solving • Adaptable team player • Interest in how systems, processes and people interact • Willingness to progress through widening experience, professional qualifications and other training (e.g. project management, soft skills)

  11. Careers in Investment OperationsWhere to start? • Some firms recruit graduates in Business, Finance, Accounting, Economics, IT or another relevant discipline • Others have apprenticeship schemes for school leavers • Work experience programmes – 2-3 month contracts that can lead to a permanent position • http://www.insidecareers.co.uk (Banking, Securities & Investment) • www.apprenticeships.co.uk • http://www.directions.org.uk/careers/ (work experience)

  12. Questions later on please! Sian Lloyd MBA ASIP Chartered FCSI Email: sian.lloyd@cisi.org.uk Phone: 44 (0) 207 645 0696

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