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Chartered Accountancy Consultancy Insurance at the Heart of the City: Management Accountancy Pensions P.18 a Graduate Insight >> Tax Sign up... www.insidecareers.co.uk City & Finance careerchoice 2011/12 PROFESSIONS COVERED Actuaries Banking Chartered Accountancy Consultancy Insurance At the heart of the City: Management Accountancy Pensions p.18 A graduate insight >> Tax Interview tips: How to get that job offer >> p.74 For more information and 1000s of jobs visit www.insidecareers.co.uk No bull. Straight talking from KPMG. Graduate Programmes All degree disciplines We close for applications for our programmes in Audit, Tax and Consultancy once we are full. To secure a place at KPMG, be sure to apply early. To find out more, head straight to: www.kpmg.co.uk/insidecareers © 2011 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved. a UK limited liability partnership, is subsidiary of KPMG Europe LLP and member firm the network independent firms affiliated with International Cooperative, Swiss entity. © 2011 KPMG LLP, The KPMG name, logo and “cutting through complexity” are registered trademarks or of International. careerchoice City & Finance Visit our website Introduction Introduction 3 Actuaries Go Sectors Actuaries 6 Banking 12 Banking, Securities & Go Investments Chartered Accountancy 22 Consultancy 28 Insurance 34 Chartered Accountancy Go Management Accountancy 40 Pensions 46 Tax 52 Management Consultancy Go Career advice Researching your future industry 62 Insurance Go Finding your way to the ideal job 64 Get taken seriously, get qualified 67 Writing the perfect CV 70 Management Accountancy Go Interview tips: How to get that job offer 74 How to tackle assessment centres 77 Pensions Go Employer A-Z Employer A-Z 79 Chartered Tax Advisers Go Get connected... www.insidecareers.co.uk Subscribe to our job and events emails 2 Introduction Publication team Editor Anna Kirkham Editorial Assistant Laura McFarlane Barclays Capital Stoil Topalov 16 Design Ascend Creative Ltd Bandbox Design Cass Business School Sara Newman 64 Photography Simon Allen Phil Clarke-Hill Chris O’Donovan Centrica Riz Din 44 Print Cambrian Printers, Aberystwyth Financial Skills Partnership Sarah Thwaites 3 ISBN 978-1-86213-167-5 Financial Skills Partnership 35 Acknowledgments Inside Careers would like to thank all the companies, authors and anyone who has contributed to the Hymans Robertson Chris Lilley 8 magazine in any way. Special thanks go to the following institutes: KPMG Alex de Silva 56 Chartered Institute of Management Accountants Chartered Institute for Securities & Investment Lloyd’s of London Carys Lawton 38 Institute of Consulting Mattioli Woods Vikki Iddon 48 Management Consultancies Association The Actuarial Profession Mercer Fiona Stewart 50 The Association of Taxation Technicians Nomura Toni Osibodu 18 The Chartered Institute of Taxation The Chartered Insurance Institute Olympic Delivery Authority Jeremy Chapman 42 The Institute of Chartered Accountants in England & Wales Pure Taxation Rob Cottrell 53 The Pensions Management Institute PwC Haydn Rodgers 26 Copyright in individual articles © 2011 the authors, who have asserted their right to be identified as the author under s.7 of the Copyright, Designs and Patents Act 1988. The compilation © 2011 Cambridge Market Intelligence Ltd. All rights reserved. No part of this publication may be The Boston Consulting Group Yuri Romanenkov 32 reproduced, stored in a retrieval system or transmitted, in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior permission of the copyright owner. While every effort has been made to ensure its accuracy, no responsibility for loss occasioned to any The Write Stuff Peter Panayotou 70 person acting or refraining from action as a result of any material in this publication can be accepted by the publisher or authors. Towers Watson Alice Boreman 10 Publisher Cambridge Market Intelligence Ltd The Quadrangle 49 Atalanta Street London SW6 6TU T: 020 7565 7900 www.insidecareers.co.uk Inside Careers is an associate member of the Association of Graduate Recruiters CONTRIBUTORS SIGN UP.... www.insidecareers.co.uk/signup Back to contents page >> Introduction 3 Introduction There is much more to financial services than just juggling numbers. The financial professions are modern, fast moving and ever- changing, so if you are looking for a career that requires quick thinking and brings with it plenty of challenge and reward, then this sector will provide you with just that. Sarah Thwaites Sarah is responsible for drawing together FSP’s So why should you pursue a career in this work such as employer engagement, policy, careers, education, research, and developing sector? First and foremost is the fact that industry solutions to meet employers’ needs in a the sector is continuously recruiting and changing environment. looking for talent! The number of confirmed job offers in financial services in March 2011 alone increased by 16%. Employers also tend to recruit graduates from a wide array of move ahead regardless of age. As a result, the disciplines because they take into account the sector is particularly attractive for ambitious skill set you bring as a person just as much as young people. your academic pedigree. It seems a lifetime ago that I came into the The sector also offers a breadth of opportunities Financial Services sector and to be honest, like through the diverse choice of roles available so so many at the time, I really fell into it rather you’re sure to find something to suit, excite and than planned my career. Unlike me, you have challenge you! Some of which you can explore the opportunity to find out about the breadth in this magazine. of opportunities that the sector can offer you. Many of the roles in financial services are not Secondly, a role within financial professions well known even though they can be both will arm you with invaluable transferable skills rewarding and stimulating. Read the profiles – such as teamwork, project management, included within these pages to gain an insight handling pressure, problem solving and into what these sectors have to offer and help written/verbal communication – which are you make that vital decision of which career highly valued by employers and will make path you should take. you more valuable and marketable whatever career you decide to pursue. You will also have Whatever your degree subject, there will opportunities to work with and be mentored always be opportunities available to you by internationally experienced and dynamic because employers look for a wider, non individuals who are experts in their fields. academic skill set and experience which include soft skills like team work, confidence Most would be quick to highlight earning and presentation skills. Our sector has potential as a benefit of working in the sometimes suffered from an image problem industry and rightly so. Graduates’ starting and has been accused of being boring and salaries are very attractive. The financial male dominated. This is not true! The city is services sector has some of the highest, most making great strides to make itself accessible alluring packages available. People who enjoy to a rich and diverse talent pool in order travelling and experiencing new cultures will to remain a competitive and leading global also be attracted by the international nature of player. Things are changing and you too could the industry which offers lots of opportunities be a part of this exciting new world. to travel and work with international companies, organisations and clients all over In addition to the information Inside the world. Careers can provide you, the Financial Skills Partnership have created an online gateway Responsibility and promotion in this sector can dedicated to helping graduates into the also come very fast. The sector tends to place financial professions. more emphasis on performance than seniority of employees, therefore high performers can www.fiancialskillspartnerhsip.org.uk/directions SIGN UP.... www.insidecareers.co.uk/signup Back to contents page >> FOCUSON 5 Actuaries 6 Banking 12 Chartered Accountancy 22 Consultancy 28 Insurance 34 Management Accountancy 40 Pensions 46 Tax 52 6 Actuaries Actuaries Snapshot Actuaries apply financial and statistical theories to solve real business problems. These business problems typically involve analysing the past to determine future financial events, especially when the amount of a future payment, or the timing of when it is paid, is uncertain. Actuaries are experts in the field of financial and statistical analysis, most widely associated with pension schemes and insurance, and renowned for their mathematical prowess. Traditionally you will find actuaries working within consultancy, investment, insurance and pensions. They are also increasingly moving into other areas of the financial sector such as risk management, banking and capital project management. SIGN UP.... www.insidecareers.co.uk/signup Back to contents page >> Actuaries 7 Actuaries analyse past and present data to solve And the rewards? real business problems. A lot of actuaries’ work Being an expert in such a complex area brings Dealing with risk Actuaries is about risk management: assessing how likely great rewards. Actuaries’ pay and conditions an event may be and the costs associated with compare well with other leading professions. it. To make things more challenging, actuaries really need to understand how businesses The rewards of being an actuary are far more operate, they need to keep up to date with than financial. It is a stimulating job that legislative changes, long-term demographic challenges you to think at all times and offers trends and have general commercial and you the opportunity to make a positive impact economic awareness. on the organisations and their employees. Career paths Expert domains An actuary’s early training has a split focus on The traditional areas in which actuaries operate passing the professional exams and building are: consultancy, investment, life and general practical experience. Once qualified many insurance and pensions.
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