Finance 2019Edition COMPREHENSIVE CAREERS ADVICE AND JOBS FOR THE FINANCE SECTOR - Gradireland
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Finance
COMPREHENSIVE CAREERS ADVICE AND JOBS FOR THE FINANCE SECTOR
2019
Edition
• opportunities in Ireland, north and south
• sectors include accounting, banking, tax and
funds
• useful contacts
• graduate profiles
• the inside track on what employers want
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gradireland Finance 2019
Getting started in finance Areas of work Top employers in finance
2 Where are the jobs? 22 Where you can work 35 Top employers in finance
4 Sector snapshots Banking
6 What skills you will need 23 Investment banking People at work
8 What employers are looking for 24 Corporate banking 36 My career in finance
9 Finance internships 25 Private banking
10 Apprenticeships: an alternative 26 Fund administration and fund Employers
route management Aldi Stores (Ireland) Ltd OBC
11 Applying for a job in finance 28 Retail banking Bank of Ireland 40
12 In the hot seat 28 Insurance The Office of the Comptroller &
13 Dealing with assessment centres 29 Regulation & compliance Auditor General 41
14 Your career in finance checklist 29 Risk management EY 42, IBC
Accountancy and financial Glanbia Management Services Ltd
management 45
Professional development
30 Audit Hedgeserv Limited 46
15 Training and career development
31 Management accountancy KPMG 47
18 Your finance career planner
2018–2019 32 Financial accountancy PwC IFC, 48
33 Tax IBC = inside back cover, IFC = inside
20 Employer insights-how to start
front cover, OBC = outside back cover
your fintech career 34 Islamic finance
gradireland Finance is published by the Association of GTI Ireland, 14–16 Lord Edward Street, Dublin D02 YC63
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We would like to thank all third level careers services in
ISBN 978 1 912625 02 4 ISSN 2009-1575
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gradireland Finance 2019
2
Where are the jobs in finance?
Recently, there has been continued growth across both the Domestic and International markets in
the financial sector. The core growth sectors within this remain technology, pharmaceutical and
FMCG. What has been important for Ireland’s competitiveness has been relatively low but steady
inflation, which is key to continually attracting Foreign Direct Investment (FDI). However, Ireland is a
small and open economy, and can be buffeted badly by any international turmoil. The ongoing ‘Brexit’
uncertainty has caused a fresh wave of turbulence in some areas of the financial sector, which would
undoubtedly be hit severely by any changes in trade between Ireland and its largest trading partner,
the United Kingdom.
any graduates begin their related degrees, opportunities exist
M financial career through
the formalised graduate
scheme route. These programmes
for graduates across a range of
disciplines. Many, but not all, of the
major employers require a 2:1 degree.
are operated by many of the larger They are looking for graduates who
national and international firms. On have a genuine interest in the world
a graduate scheme you will learn the of business and graduates who are
business from the inside as a trainee commercially aware, in that they
and you’ll be exposed to various have some awareness of the Accountancy
different aspects of the firm in terms commercial benefits of the business An accountant with a strong track
of the various departments and how and how it operates. They also like record can expect exciting
they operate. applicants who have some sense of opportunities across most salary
which area they would like to work levels. The jobs market in this
What are employers looking for? in, as finance is so diverse that sector has been improving on a
While employers do target students generic applications stick out easily general level since 2011, and over
with finance, numerate or business as ones to reject. the last year there has been
strong upward trends in
recruitment. Signs for the coming
year are positive, with
Some of the core skills recruiters will be seeking to identify include:
accountancy and financial
• Analytical skills The ability to relate to clients and management providing the
• Numeracy skills colleagues is an important skill. Can highest percentage of graduate
• IT skills you clearly articulate in both the jobs according to the gradireland
• Foreign languages written and spoken word? Since the Graduate Salary & Recruitment
• Self-motivation finance sector is a truly global industry, Trends Survey, and with an
• Presentation and communication employers are also looking for foreign average starting salary in the
skills language skills, though not necessarily financial management sector in
always for travel related roles. excess of €30,000.
gradireland Finance 2019
3
Investment banking
This sector has seen a consistent
level of growth over the past year,
with graduate intakes increasing
by 15–20% annually. This is based
on Ireland being seen as an
attractive base for American and
European banking operations to
set up.
The funds sector continues to
grow in Dublin with continued
interest from foreign and direct
investment. Fund accounting, risk
& control, product management
and transfer agency are all
competitive areas for both clients
Practice, tax & audit and candidates. The number of
Ireland’s financial professional permanent opportunities on offer
services community has also has continued to increase over the
enjoyed recent growth. The last 12 months with employers
growth is primarily driven by firms offering competitive benefits
winning new work and an increase packages in order to attract top
in domestic business demand, talent.
which has steadily increased.
There is continued and specific
demand for skilled audit Retail banking
professionals of all levels among While this area has undergone a lot
the ‘Big 4’, ‘Top 20’ and SME’s. of streamlining in terms of staff
Firms are offering excellent dealing with customers, there
flexibility and progression as continues to be strong demand for
practices are growing, providing qualified candidates with the right
career progression for fresh skills. In previous years, there was a
entrants. big demand for arrears &
The market on the tax side has restructuring candidates. More
continued to experience growth recently, however, new business
where specific skills in demand underwriters and credit analysts are
include transfer pricing, global in demand. This is a positive
mobility, financial services tax and reflection on the current domestic
VAT experts. Similar to other areas demand for mortgages and lending.
of professional services, there has Permanent opportunities are also
been strong demand for tax starting to come about again
professionals across the board. The having been few and far between in
effect on salaries has been recent years. Qualified graduates,
noticeable with increases at most and job seekers in derivatives and
levels. Certain specialist skills such quantitative markets, continue to
as Transfer Pricing will attract a be in demand across the wider
premium in the market. financial services space.
gradireland Finance 2019
4
Sector snapshots
Most careers in finance are within three main sectors; banking and
investment, accountancy and financial management and financial
services. Let’s have a quick look at what each sector involves.
Banking and investment Accountancy and financial
The banking and investment sector management
makes money work as hard as Regardless of its size, every business
possible. With financial markets open requires an expert to manage its
24 hours a day and straddling finances and ensure that all the
different time zones, money is figures add up. Managing cash flow
borrowed, loaned and invested on a and monitoring profit and loss are key
constant basis. Like London, Dublin’s areas of work, and somebody will
financial working day bridges that of have to supply the crucial financial
the US and the Far East, making it a information that can influence
key finance centre. the strategic development of an
organisation.
The employers
Large global investment banks The employers
offering a full range of services; Large multinational organisations
specialist finance houses (smaller providing a huge range of
organisations that may specialise in a professional services and smaller
particular type of work); financial firms specialising in particular areas.
services organisations; and You could also work in commerce and
investment management firms. industry, or for the public sector.
The clients The clients
These businesses generally provide If you work for an accountancy or
high-level financial services to other professional services firm, the clients
companies – corporate or will be other businesses seeking
institutional clients. Such services can advice and expertise. Working within
include advice on mergers and industry, you would provide an
acquisitions, trading, capital raising internal service to your employer. And
and asset management. Other crucial finally, in the public sector, you could
functions (such as technology and work for the public good, ensuring
operations) work within the business that taxpayers’ money is managed
to support these services. properly.
The perks The perks
Fast-paced and challenging work; Work that’s at the heart of how
high salaries in many areas; early businesses are run, and the
responsibility; and a global work chance to gain an internationally
environment. recognised qualification.
gradireland Finance 2019
5
Financial services
Most individuals require day-to-day
financial management products, such as
bank accounts, credit cards, pensions,
loans and insurance – and some of these
are also needed by companies. Related
areas, such as reinsurance and
underwriting, also make up an
important part of this sector, while
financial regulators ensure a safe and fair
service for all.
The employers
Large financial services providers offering
services like retail banking; regulatory
bodies; insurance or reinsurance
companies; firms offering services such
as actuarial consulting or underwriting;
and companies specialising in other
areas that have diversified into financial
services (eg supermarkets).
The clients
Large financial services providers serve
individual customers and small
businesses, providing a range of day-to-
day financial services. Some types of
organisations, such as those offering
specialist services, offer advice or
financial services to other corporate
clients.
The perks
An expanding sector with a focus on
customer service, where you could gain
management responsibility early on
while maintaining a healthy work/life
balance.
gradireland Finance 2019
6
What skills you will need
See what skills you can brush up on to help kick-start your finance career on the right foot.
Understanding
An ability to grasp new concepts quickly – whether
assimilating new information or data, managing a
project, or meeting a new client – is essential for
finance graduates. If you come across something new,
you need to be able to ask the right questions and
follow the right leads during research.
Potential employers won’t judge your intellectual
skills by your academic grades alone, and recruiters
will want to see that you can apply your knowledge to
practical situations. Go into an interview knowing as
much as possible regarding what the job actually
entails. Recruiters don’t expect in-depth knowledge,
but a good grasp of the basics will help you and
impress them. Read the areas of work sections of this
guide for more information on specific areas of the
finance sector.
Those employed in the finance
sector are required to convey
complex information in a
professional and jargon-free
manner, so it’s vital that you
learn to tailor your
communication style. You will
also need to be able to work
with colleagues, often as Go into an interview knowing
part of a team, at all levels as much as possible regarding
of the business. what the job actually entails.
gradireland Finance 2019
7
Enthusiasm is also shown by conducting research –
you wouldn’t bother researching something and
keeping up to date with it if you weren’t genuinely
interested in and enthused by it. Mention an aspect of
the firm’s work that interests you and find a way to
link it to your own skills and experience.
Innovation Commercial awareness
Recruiters are on the hunt for freethinkers with fresh If you want a career in finance, it’s essential that you
ideas who are going to make an impact, and those possess knowledge of the specific business you wish
graduates who possess the ability to create or identify to work in, the sectors you would be working with, and
new opportunities to develop the business are sought commercial awareness of both your employer and
after. While many firms have been essentially using their competitors. If you’ve gained any sort of work
the same processes for years, those processes are experience through a casual job, you can use that
frequently tweaked to create improvements. Have you experience to demonstrate commercial awareness at
done something similar? For example, if your student interview. If you’ve stacked shelves in a supermarket,
society was planning on promoting itself via a stall at be able to identify the issues facing the supermarket
a student fair and you suggested giving out some industry, along with knowledge of who owns the
freebies to attract people to the stand, then went company you worked for and how it was structured. If
about sourcing suitable items, you would have you’ve worked in a pub, you could give your opinions
provided a basic innovation to improve society on the issues facing the drinks industry. Recruiters will
membership and increase awareness among students. be impressed by answers that demonstrate an
insider’s, rather than a customer’s, perspective.
Communication Enthusiasm
Those employed in the finance sector are required to Enthusiastic and interested candidates who take the
convey complex information in a professional and initiative are the ones most likely to impress recruiters.
jargon-free manner, so it’s vital that you learn to tailor Candidates are more likely to stand out if they get in
your communication style. You will also need to be touch with recruiters and make themselves known.
able to work with colleagues, often as part of a team, Attending events and fairs, and meeting people from
at all levels of the business. Without good the firm you’re interested in, is a great way to
communication between members, good teamwork demonstrate your initiative. Enthusiasm is also shown
won’t thrive. by conducting research – you wouldn’t bother
You need to be able to express yourself concisely, researching something and keeping up to date with it
and you also need to be a good listener as well as if you weren’t genuinely interested in and enthused by
being good at asking questions. Recruiters will assess it. Mention an aspect of the firm’s work that interests
your communication skills through your application you and find a way to link it to your own skills and
form answers, how you go about answering their experience.
questions at the interview, and group work and
presentations at assessment centres.
gradireland Finance 2019
8
What employers are looking for
Employers don’t need to know that you want a job, they know that already. What they want to
know is why you are the right fit to work for them.
ur own research has shown are constantly refining them to Be commercially aware
O that employers find candidates
are not well prepared when it
comes to having a good knowledge of
improve how the business works. Can
you provide examples of when you
innovated or communicated a way to
This goes back to being prepared,
doing your research and knowing
what the company is about. It also
the work that the company does, and change something for the better, comes from having a commercial
why they would be the right fit to join perhaps in a student society or on a awareness of the basics of business.
the team. This can indicate a lack of sports team? Remember, in the This can also relate to your non-
interest in that specific job. But this is finance sector you need to be able to academic experience; your successful
something you can easily remedy by communicate complex information in part time job where you did such a
following the steps we outlined on a straightforward and clear manner, good job that the boss asked you to
pages 6–7. to both colleagues and clients. come back to work weekends. Or the
Employers are looking for Recruiters will be assessing how you time you successfully served as
candidates who have prepared for the do this through your CV or application treasurer for your football or hockey
interview process and have put form, how you relate to others at team. These are all examples of you
thought into their career plans. assessment centres and of course taking responsibility and delivering.
how you present yourself at interview.
Be prepared
Again, this is down to you having
done your research on the employer
to which you are applying. Ready-
made, bland, generic interview
answers or statements on paper are
very apparent to recruiters. As a
finance graduate, or a graduate who
wants to get into the finance sector,
you’ll be expected to learn quickly and
adapt to changing environments.
They won’t expect you to know in-
depth facts about the company, but
they will expect you to know what the
job would actually involve. Again, read
our areas of work overviews on page
22 and visit the finance career sector
pages on gradireland.com for more
information.
Communicate & innovate
Recruiters want graduate recruits
who can think for themselves. While
financial organisations are well
established in their processes, they
gradireland Finance 20199
Finance internships
An internship will help you gain experience, make contacts and stand out from other
applicants. It will also help you decide if an employer or line of work is suitable for you.
What exactly is an internship? network with other professionals may already have offered the
They’re a common feature of life now and like-minded ambitious students. internships to strong candidates
for students and graduates, but let’s While an internship doesn’t who applied earlier than you.
look at what an internship should, guarantee a job, it can raise your • Treat an application to an
and shouldn’t, involve. Internships chances significantly, and it’s not internship programme as if it were
essentially offer a structured unusual for employers in the finance for a permanent role. Tailor your
introduction to working life in a sector to take on a sizeable application to the firm and role in
particular sector and within a proportion of their interns question. Recruiters like applicants
particular organisation. Finance permanently or recruit them in who can explain why they are
internships are usually aimed at subsequent recruitment cycles. interested in a career in this sector.
students in their penultimate year of However, you might also discover • Think carefully about your skills
study and commonly run for eight to that this area of work, or particular and how they might be relevant to
ten weeks during the summer. Some organisation, isn’t right for you, and the role you’re applying for. If you
organisations offer shorter ‘taster’ it’s much better to discover this lack work experience, consider any
programmes, longer industrial during an internship than after skills you may have acquired
placements and earlier internships you’ve graduated and accepted a during extracurricular activities.
(especially investment banks). As an permanent offer. • Be prepared for questions about
intern, you should be treated as a the job role and the area of
member of the established team, How to find the right internship finance the organisation operates
and the work you’re presented with Before submitting your application, in. Keep up to date with what’s
should be meaningful. Interns are it’s important to spend time going on in the business and
usually offered an initial training exploring the different divisions and finance world by reading relevant
programme, but you’ll also be career opportunities that exist press and keeping up to date with
expected to participate rather than within a firm, as you will usually be developments.
observe from day one. An initial expected to apply to a specific
training programme is usually business area. Attending company How to make the most of an
offered, but you’ll be expected to get presentations, speaking to students internship
to work on your first day. You will who have completed internships and You’ll be working in a professional
most likely be given a small project reading organisations’ websites will environment, so dress appropriately
to work on, for example some help you gain an understanding of and be punctual. Your employer may
analysis work, some IT testing or the business areas, while giving you not always comment if you are late,
researching a market. a feel for the culture of the but they will make note of it. Display
organisation. enthusiasm and maintain a positive
What’s in it for you? attitude, even if the tasks you’re
An internship offers you the chance How to prepare for applications and given aren’t the most exciting, but
to test your skills in live situations, interviews never assume you know more than
explore your career options and gain • Apply early! Many focussed the organisation’s full-time
an insight into the organisation. It’s a students will apply long before the employees. Ask questions and if you
great opportunity to find out about deadline (usually January), so if make a mistake, be sure to learn
different areas of business, and to you leave it too late, recruiters from it.
gradireland Finance 201910
Apprenticeships: an alternative route
Sandra Harvey Graham of the Insurance Institute of Ireland writes on why the recently expanded
apprenticeship schemes represent an excellent opportunity for both jobseekers and industry.
he difficulty for many programme is delivered through a compliant to work in any area of
T employers is that graduates are
coming out of university lacking
key workplace skills necessary to hit
combination of online study with IT
Sligo and The Insurance Institute, and
on-the-job learning through an
general insurance – personal,
commercial or private medical.
the ground running. For graduates, it’s insurance employer. The degree Who should apply?
more than disheartening to come out portion of the programme is fully • School leavers who want to earn a
of college after four years and face the funded through the Apprenticeship level 8 degree without going down
‘at least 2 years’ experience’ criteria Council and apprentices are also paid the university route.
on every job spec – even for some a salary by their employer. • Third level students who are
entry level roles. Aside from highly As an apprentice you’ll develop questioning the relevancy of their
competitive graduate programmes or technical insurance knowledge along current college course can
unpaid internships, many graduates with transferable workplace skills and undertake an apprenticeship
are faced with few options other than competencies. Once you graduate, without having to incur any extra
to take a job unrelated to their you’ll be business-ready and cost of starting a brand new course.
qualification. This is where extremely employable in a range of • Graduates who want to further
apprenticeships come in. sectors. Your employer will support their education in the insurance
you in your on-the-job learning, with and financial services sector, while
What’s an apprenticeship? regular one to one personal gaining valuable workplace
Apprenticeships are work-based development sessions with an experience through a structured
training programmes that combine industry supervisor and mentor. programme.
academic teaching with valuable on-
the-job experiential learning; Roles When will I start?
combining technical and soft skills to A huge variety of roles are available in The next programme will begin in
create the perfect employee for the insurance industry including September next year, with employers
beginning their recruitment drives in
organisations. In July 2015 the claims, risk management,
mid-June.
government announced the underwriting, broking and loss
expansion of the current national adjusting. As an apprentice, you’ll work How do I apply?
apprenticeship scheme to extend in one of the three core industry areas Companies will recruit apprentices
beyond trades and into professional – underwriting, claims or direct client through their own processes, however
industries, such as insurance. advice. The nature of the programme The Insurance Institute will post
The Insurance Practitioner means that you will learn about all details of who’s recruiting on their
Apprenticeship is a three-year areas of the business and you’ll website iii.ie/apprenticeships. More
programme, where apprentices are complete projects and case studies to information is available via
recruited into an insurance reinforce learning in the workplace. www.apprenticeshipcouncil.ie.
organisation while working towards a You will also earn the insurance
level 8 degree – the BA in Insurance industry’s benchmark professional Sandra Harvey Graham is Apprenticeship
Programme Manager with the Insurance
Practice, awarded by IT Sligo. This is qualification the Professional Diploma
Institute of Ireland.
the first apprenticeship in Ireland to in Insurance, which means that by the
offer a level 8 honours degree. The end of your three years, you’ll be
gradireland Finance 201911
Applying for a job in finance
Finance is a diverse and process driven industry, so it’s vital you know exactly who you are applying to,
what the role is, and how to apply for it.
Finding where the jobs are prefer to work in – a large firm with Many large finance companies are
While the finance sector advertises great facilities, structured quite high profile, so useful
many positions, they all attract a high programmes and lots of peers; or a information is bound to be available
number of applicants. Prior to small firm, with possibly more scope online.
applying for finance jobs, study the for individuality? Also, if acquiring a Increasingly, companies are
industry and familiarise yourself with professional qualification while switching to online application forms
what its key employers are looking for working is a requirement, you need to instead of the traditional CV and cover
in applicants. The employer hubs at ensure the employer can support you letter. However, if you have a good CV,
gradireland.com/employers is a great in this regard. you can apply much of the same
source of information, as is the Inside information to an online form, so it’s
Buzz feature (gradireland.com/ Applying for the job still important to have a good CV to
gradireland-inside-buzz), which Finance sector firms operate their hand as the basis for applications, no
provides you with an insider’s view recruitment processes in a very matter what the application method is.
from a host of companies. Also, look structured fashion. Large
through the employer profiles at the accountancy firms operate what is Finance applications: a step-by-step
back of this guide, where you’ll find known as the ‘milk round’ in October guide
lots of information on finance related of each year, arranging presentations The standard process for applying for
careers. Researching the background, in third level institutions to brief financial positions is as follows:
culture and recruitment process of graduates on the firm, what Online application forms: These
each company is vital. Read more in opportunities exist and what their forms cover all the information that
our Areas of work section on page 22. recruitment processes are. This you should include in your CV. They
provides an excellent opportunity if can often include a personality based
Background and culture you’re interested in the relevant questionnaire or a numerical
• What does the organisation do, and companies. Talk to your careers reasoning test.
where is it located? service about the necessary First round interviews: These are
• Who are the company’s clients and preparations required for these initial screening interviews, held either
competitors? opportunities, as they can be highly at the company’s premises or in local
• Any notable or newsworthy competitive. hotels or colleges.
achievements recently? Ahead of preparing your Assessment centres: Increasingly
• What type of culture does the application, make sure you know: popular, these last from a few hours in
organisation promote? • What degree subjects the duration to up to two days. Some of
• Does the company have specific employer is looking for and the tests at assessment centres
core values, and do they match your whether you match their include group exercises, case studies,
own values? requirements. in-tray exercises and psychometric
• Does the company match your • What’s the recruitment process? tests. Complete the gradireland
career ambitions, and would you be Assessment centres? Several Careers Report for an insight into some
happy working there? interviews? Or a combination of of the questions asked at assessment
Is the size of the organisation an both? centres. Taking part in the gradireland
important factor? What type of • Also, do some research on the National Student Challenge will
corporate environment would you experiences of other applicants. provide you with great practice.
gradireland Finance 201912
In the hot seat
The situations you may encounter
in a finance sector interview and
how to respond.
n the day of the interview
O dress smartly and sharply;
don’t take unnecessary risks
when it comes to your clothing. Bring
freshly printed copies of your CV on
plain white paper; they will already
have received them, but always have
some spare copies just in case. Don’t
be late. In fact be early, at least 10–15
minutes. This will give you some time
to be received for the interview and
to sit down and compose your
thoughts. If you’re unfamiliar with
the interview location, don’t wait
until the day of the interview to find dealt with ‘real world’ situations. One relevant to the role. Recruiters will
it; do a ‘dry-run’ the day before and very common question is the dreaded: also question you on your strengths
allow time for traffic and delays. and weaknesses and may ask how
If you’re going for a face-to-face Tell us about yourself? you would be described by other
interview with a financial Although this might seem cryptic, it’s people? They may also ask where you
organisation, such as a retail bank, the broad nature of this question would see yourself in five years or ask
actuarial consultancy or an insurance that actually makes it an opportunity experience based questions such as:
company, you will likely already have for the candidate to set the tone of ‘Tell us about a time when you had to
successfully navigated a first-round the interview. The ‘tell us about lead a team?’ For questions like this,
telephone interview. These initial yourself’ question is in many ways an remember the STAR technique
interviews aim to gauge your: invitation for you to emphasise why (Situation, Task, Actions, Results).
• Interest in the financial sector you want the job. It’s not an When you are asked opinion
• Your understanding of what the invitation for a detailed personal based questions about the sector you
job involves history, or a summary of your will obviously need to have done
• Your skills and abilities, both in hobbies, likes and dislikes. Instead, research on the company and the
terms of analytical skills and answer clearly, concisely and sector, but whatever your level of
business awareness enthusiastically. Tell the recruiter why information, don’t try and pretend
• Your knowledge of the company you are the right person for the job. you know more than you do, as you’ll
and the job and whether you But don’t rehearse your answer too be swiftly found out. Also, don’t say
would be a good fit? much. Remember, it’s important that what you think the recruiter wants to
Interviewers will be interested in the employer likes you, and it won’t hear. If they ask opinion based
what you say about yourself and how help if your answer comes across as questions, be prepared to give
you have applied your skills to your pre-rehearsed or forced. opinions for answers and be prepared
experiences. They will also be Other questions will likely touch to explain how you formed your
interested in hearing about how you on your work experience and how it is opinions.
gradireland Finance 201913
Dealing with assessment centres
Now a common reality for many graduate jobseekers, particularly those in finance, so let’s
find out what’s involved.
n assessment centre, which Remember that your body language in which to get to know you.
A typically lasts one or two days,
brings together a group of
candidates who undertake a series of
can make a huge difference to your
presentation. Smiling will ease the
tension in your face, and make your
Personality tests give them an idea of
who you are, so be honest, and
remember there are no right or
exercises and assessments. audience more comfortable. wrong answers. A relaxed state will
The tests provide an opportunity Ability tests assess both general make the experience much more
to demonstrate that you possess the and specific intelligence. General enjoyable for you and give your
personal and technical skills for the ability tests ask you to use complex assessors a more confident
job. Every organisation will design its information, in the form of words, impression of you.
own specific assessment centre. If numbers and diagrams, to solve The other candidates are rarely in
you identified its selection criteria for problems using logical or lateral direct competition with you. You’re
your first interview, keep them in thinking. Ability tests are most likely being assessed against the
mind throughout your time at the to be numerical or verbal reasoning employer’s criteria, not against each
centre. Every test, exercise and tests, specific to the role you have other. The assessors want to see that
interview will match you against applied for. you can work in a team. Alternate
these criteria. Aptitude tests assess your ability between taking charge and taking a
to learn something new. Employees back seat to show you can both take
What the tasks involve are increasingly expected to adapt initiative and follow orders.
Group exercises can include quickly to changes in the workplace, Be yourself. Or rather, be your best
discussion groups, role-playing a so prove your ability to develop new self. Remember though, if you have to
specific brief, leadership tasks and skills quickly. try make major personality changes
job-related scenarios designed to test During the recruitment process, to fit in with an organisation, it’s
your ability to handle the type of employers have a limited time-frame probably not for you.
tasks specific to the area you have
applied for. While promoting your
own cause, remember that you must
help the group to complete the task.
You may be required to give a
presentation, usually to a mixed
group of candidates and assessors.
Structure is important, as it will keep
your mind focussed and will help the
audience keep track. Use whatever
form of notes you feel comfortable
with, but avoid using a script. Don’t
hit your audience with too much
information. You may only have five
minutes, which is only enough time
to present four big ideas or messages.
gradireland Finance 201914
Your career in finance checklist
Before you submit your job or internship application, use the following checklist to make
sure you are giving yourself the best possible chance.
Prepare well
4 Know what the employer wants. Make sure you check the skills,
experience and minimum degree results required.
4 Check the small print. Ensure you’re within the timeframe to apply and
you’re giving the employer what they are asking for.
4 Know whom you want to work for. Don’t send a load of generic
applications; it is a complete waste of time. Make a shortlist of companies
you think you would like to work for and then do proper research into
exactly whom they are and exactly what do they do before putting your
application together.
Ace the interview
4 Know what the format is. If it’s an interview, know if it’s a panel interview or
another type. If it’s an assessment centre, carefully read any information sent
to you.
4 Know your own application. Reread your application or CV and be familiar with
the key skills which have got you this far.
4 Manage the nerves. You have done well, and caught the interviewer’s
attention; now you need to finish the job by remaining calm and cool.
Employers expect some nerves, it’s natural, but don’t let nervousness undo all
your good work so far.
4 Be friendly, be polite: Smile, ask questions, ensure the interview is a
conversation, not an interrogation. It’s much better for the employer and you.
Apply properly
4 Don’t rush! Give yourself plenty of time to put your CV and cover letter together
or to fill out the online application form.
4 Match your application to the job spec. Ensure you’re tailoring what you write to
the requirements of the job.
4 Show what you’ve done. While enthusiasm for the job will be valued by the
employer, experience based examples of where you showed your skills are what
can set you apart. Think of any volunteering or society based work you’ve done
and use it.
4 No room for typos. If you’re filling in an online application form, type the longer
answers into a Word document and proofread them first. Make sure you get
someone else to read your cover letter or CV and cover letter. An error ridden
application will land you straight in the discard pile.
gradireland Finance 201915
Training and career development
There are many ways of expanding your knowledge and developing your career in finance,
including completing professional qualifications and postgraduate study.
n undeniable advantage of a finance career is
A the abundance of opportunities to develop
your knowledge. On top of the ongoing training
and progress reviews you receive when you join your
first employer, in most areas of finance you can gain a
professional qualification. Furthermore, you can
undertake postgraduate study in a finance-related
area at any point in your career – and your employer
may even fund it.
Professional qualifications
Professional qualifications award professional status,
such as chartership, which is an internationally
recognised mark of quality and professionalism.
Employers usually encourage their employees to
become qualified because it signals to clients and the
industry that their workforce is top-notch.
Professional qualifications are conferred by
professional associations. There is an association for
virtually every financial specialism you can think of.
Some sectors in which you can study for a professional
qualification are accountancy, actuarial work, banking
and insurance. In certain sectors you are encouraged to
become qualified, in others, it is expected.
In some sectors, eg accountancy, there are a
number of professional qualifications for you to
choose from and your employer will help select the
one most suitable. Qualification processes can vary but
you will need to complete examinations. You will have
to carry out your full-time job as you study.
While you shouldn’t underestimate how tough this
can be, your employer and professional association will
support you. Most employers are well aware of the
demands of juggling full-time work with study and
many give study leave – some even put you in touch
with a recently qualified mentor as well. Often
employers will cover the costs of your study. Many
professional associations provide web resources and
online communities for their graduate members.
gradireland Finance 201916
Professional associations do a lot sound financial advice. Fully qualified
more than just give you letters after members of Chartered Accountants
your name, however. They represent Ireland earn the designation ACA
your interests at national and (Associate Chartered Accountant).
international levels and keep you After 10 years membership, members
updated on sector developments and are invited to apply for fellowship of
new legislation. Especially useful for their Institute and earn the
graduates is the access they give to designation FCA (Fellow Chartered
other members’ contact details – a Accountant).
great networking tool. See overleaf www.charteredaccountants.ie
for the contact details of the main
professional associations. Institute of Certified Public
Accountants (CPA)
Professional bodies The Institute of Certified Public
More information from Some of the major professional bodies Accountants in Ireland (CPA Ireland) is
gradireland: which provide training, qualification one of the main Irish accountancy
• Visit gradireland.com/careers- and representation include: bodies with 5,000 members and
advice/job-descriptions to find students. The CPA designation is the
out more about what’s involved Association of Chartered Certified most commonly used designation
in your area of interest within Accountants (ACCA) worldwide for professional
finance.
The ACCA is the world’s leading body accountants and the Institute’s
• Also make sure you visit
gradireland.com/get-started so
for professional accountants, with qualification enjoys wide
you can watch videos to see over 110 years of experience, and international recognition. Visit
exactly what's involved in a innovation in the accounting www.cpaireland.ie
range of financial areas, from profession. Visit their website
tax, to accountancy, insurance, www.acca.ie to see what they have to Irish Tax Institute
fintech and audit. offer students, and why students The Irish Tax Institute is the leading
choose ACCA. They even have some representative and educational body
free online courses to get you started. for Ireland’s AITI Chartered Tax
Advisers (CTA) and is the only
Go online The Chartered Institute of professional body exclusively
Management Accountants (CIMA) dedicated to tax. Its members provide
• Find out what different
CIMA is the world’s largest and tax expertise to thousands of
professional bodies have to say
for themselves and search for
leading professional body of businesses, multinationals and
employers offering support management accountants. They have individuals in Ireland and
towards professional status on more than 229,000 members and internationally. The Institute is the
gradireland.com. students in 176 countries. CIMA work leading provider of tax qualifications
at the heart of business in industry, in Ireland, www.taxinstitute.ie
commerce and not for profit
organisations. Visit Insurance Institute of Ireland
www.cimaglobal.com for more The Insurance Institute designs and
information. delivers qualifications, training,
executive education and Continuing
Chartered Accountants Ireland (CAI) Professional Development (CPD)
The CAI is Ireland’s largest and fastest through a cost effective, fully
growing accountancy body. Chartered supported framework to members of
Accountants Ireland works with the general insurance industry in
governments and businesses to raise Ireland. The institute has over 17,500
awareness of the importance of members. www.iii.ie
gradireland Finance 201917
Other useful organisations Professional specialisms available at your Careers Service. It is
• Accounting Technicians Ireland There are a number of different routes important to match courses with your
(www.accountingtechniciansireland that postgraduate students can career goals to ensure they will
.ie) explore to augment their skill set, provide the core competencies
• Chartered Institute of Internal depending on their experience and the required for you to fulfil your future
Auditors (www.iia.org.uk) career path they are seeking. Apart ambitions. If you’re unsure whether
• Pensions Management Institute from the traditional path of masters further study will enhance your career
(www.pensions-pmi.org.uk) and PhD programmes, finance prospects, there’s no harm in seeking
• Irish Institute of Pensions employees are now pursuing the opinions of HR professionals at the
Management (www.iipm.ie) qualifications more specialised to their organisations you would like to work
• Chartered Institute of Public sector, such as the Chartered Financial in.
Finance & Accountancy Analyst (CFA), which is geared towards While postgraduate study can help
(www.cipfa.org.uk) graduates working in capital markets, your career prospects, you need to
• The Society of Actuaries in Ireland and the Association of Chartered make sure that it is worth your time
(www.actuaries.ie) Certified Accountants (ACCA) for those and money.
more focused on back office finance or A final tip: don’t use postgraduate
Postgraduate study fund administration. study as a stopgap or to give yourself
The most common types of more time. Further study is an
postgraduate degree in finance and MBAs investment in yourself that needs to
business are taught courses, and Many finance professionals prefer to be planned carefully.
these range from postgraduate return to study once they have
certificates and diplomas (lasting a acquired some experience in the Institutions and departments
few months) to masters degrees, industry. Postgraduate study expands that offer postgraduate courses
PhDs and professional qualifications your knowledge about certain aspects in finance include
(that may take a number of years). of finance, which can help you gain a • Trinity College Dublin, School of
promotion or enable you to transfer Business www.tcd.ie/business
Conversion courses into another area of finance. A • UCD Michael Smurfit Graduate
Students undertake postgraduate qualification that often facilitates your Business School
study in finance for a variety of progression in this way is the Master of www.smurfitschool.ie
reasons. Some graduates choose the Business Administration (MBA). • Dublin City University Business
postgraduate route before applying Designed to develop managerial skills, School www.dcu.ie/dcubs
for finance positions in an attempt to the MBA can usually be taken full-time • Dublin Institute of Technology,
gain an advantage when applying. over 12 months or part-time over a College of Business www.dit.ie/
There are specific courses designed two-year period. Institutions that offer colleges/collegeofbusiness
for this purpose, many of which are MBAs include Dublin City University, • University College Cork, College of
suitable for graduates from non- UCD Michael Smurfit School of Business and Law www.ucc.ie/en/
finance backgrounds. The Higher Business, National University of Ireland buslaw
Diploma in Accounting and Corporate Galway – Cairnes Graduate School, • National University of Ireland
Finance at University College Cork University College Cork, Queen’s Galway – J.E. Cairnes School of
and the Postgraduate Diploma in University Management School, Belfast Business and Economics
Accounting at Dublin Institute of and the Ulster Business School, Ulster www.cairnes.nuigalway.ie
Technology, to cite two examples, are University and Kemmy Business School • Queen’s University Management
both intensive, one-year conversion at University of Limerick. School, Belfast www.qub.ac.uk/mgt
courses specifically designed for non- • University of Ulster, Ulster Business
finance graduates wishing to pursue Postgraduate study and you School, Coleraine
careers in accounting. Courses such If you’re considering postgraduate www.business.ulster.ac.uk
as these are often self-funded. study, take a look at the postgraduate • University of Limerick, Kemmy
section of the gradireland Directory, Business School www.ul.ie/
published annually in autumn and business
gradireland Finance 201918
Autumn
• Penultimate-year students should apply
now for 2019 summer internships. Many
of these deadlines end before Christmas,
Your finance with the rest closing in January.
• Stay focussed on your academic work. A
career planner 2.1 is the minimum qualification that
most banking and investment employers
will accept.
2018–2019 • Develop transferable skills by joining a
university club or society.
• Make contact with someone employed
in the type of finance role you’re after
and see what advice they can give you.
2018 Your university’s alumni database should
be of help.
Non-finalists
Final-year students
• Apply for 2019 jobs now. Most graduate
investment banking and banking
schemes begin receiving applications in
August, with deadlines in November,
though some may close earlier, so don’t
get caught out. Remember that
application windows may close when a
certain number of applications have
been received, so don’t delay with yours.
• Visit the gradireland.com employer hubs
for advice on the hiring processes of
specific employers.
Autumn
gradireland Finance 201919
Winter Spring Summer
• First year students, or those • Make the most of any insight • Whether through an
in the second year of a four- days or spring programmes internship, travelling,
year degree, should apply you attend. Use the volunteering or working a
now for short programmes opportunity to network and part-time job, you’re bound
(e.g. spring insight ask questions to help you to pick up some skills over
programmes), which are decide which firms you want the summer, so keep a
designed by recruiters to give to work for. record of anything you can
attendees a head-start • If you’re without a summer call on when filling out
towards full graduate internship, ask your tutors if application forms.
schemes later on. Most the university offers any • Give your best attempt at
deadlines for such schemes relevant paid work. turning your internship
end in January. • Research to determine if into a full-time job offer
• If you’re in your penultimate your potential employer (see the article on page 9
2019
year and failed to land a looks favourably on any for tips). If you’re not in an
summer internship, look into specific modules, and apply internship, look for
other finance-related work accordingly for the next year. experience anywhere you
experience. Don’t be afraid to You can often find this can find it, even if it’s just a
ask family and friends for any information on the few days spent in a
contacts that might be able company’s website or by finance-related company.
to help you out. contacting their graduate
recruitment team.
• At this point, interviews
and assessment centres
will be underway. Visit
the gradireland.com
employer hubs and read
the information on • If you’ve secured a job for
pages 12 and 13 of this September, well done.
guide for advice on how • If you haven’t landed Enjoy your summer!
best to prepare and a job for September • If not, your university’s
make it through this and aren’t willing to career resources can still
process. wait another year to be accessed after you
• Ensure you have access reapply, see if any complete your studies.
to job-hunting graduate schemes Visit gradireland.com to
resources over the are still accepting see which graduate
Christmas holiday. applications. schemes are still open.
Winter Spring Summer
gradireland Finance 201920
What’s vital is enthusiasm, raw-talent
and an exceptional work-ethic
Adrian Toner, Chief Operations What tips would you have for pharma, manufacturing, and energy
Officer with Fintech firm First graduates seeking a career in the institutions. A commitment to
Fintech sector in terms of the continued professional
Derivatives, talks to gradireland
opportunities that are available? development runs core to the
about the booming growth of A FinTech “revolution” is occurring company’s values. First Derivatives
the sector, the opportunities for throughout the world at this has a unique graduate training
moment. The merger of financial programme lasting 24 months
graduates and how to make the
services with communications during which time each graduate
best start to your career. technology promises to reshape will learn new skills, technologies
finance through innovative and innovative concepts from
technological solutions in such seasoned professionals working
areas as online and mobile within the International Fintech
payments, big data, alternative arena.
finance and financial Our Training programme attracts
management. For graduates students (both domestic and
coming out of university today, international) from a variety of
they are surrounded by so many degree backgrounds e.g. Computer
fantastic opportunities in the Science, Financial Mathematics,
Fintech space – from small start- Law, Engineering, Business
up organisations through to large Management, Accounting and
Corporates. My advice would be to others.
review all options and make a list If a career working with leading
of what’s important to you at this edge technology is of interest,
stage in your career – be it working Fintech offers a unique opportunity
in a small or large organisation, to enter the ‘Big Data’ world. This
working in areas of innovation or may be as a Data Scientist, where
with seasoned professionals from the emphasis is on problem solving
whom you can learn, creating a using a combination of analytics,
foundation from which you can imagination and business
advance your technical or understanding. Alternatively
professional career or even your graduates can learn some of the
preference to travel internationally other vendor technologies that are
or to work at home. Each widely used within the global
organisation will offer different Fintech industry, skillsets which are
avenues and it is important to do in hot demand globally.
your research in order to gauge If financial consulting is deemed
which are the best options for you. a more attractive route we combine
capital markets training with
Could you give us an overview of regulatory and basic technical
what First Derivatives (FD) do and training to ensure our junior
what sort of graduate Financial engineers are well
opportunities are available? equipped to work in leading banks
FD is a global technology provider and hedge funds globally. If
working with some of the world’s worldwide travel, fast paced
largest finance, technology, retail, learning and a professional career is
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