Fund courses??

pedroj

I hope to start a career within the Irish Funds Industry(Fund Administrator/accountant etc). I currently hold a degree in Business Studies and am studying both the ACCA CAT exams and the Specialist Certificate in Investment Funds.

I just wish to ask is there any other courses you would suggest to increase my chances of obtaining a job within the sector? I am considering either the QFA or CFA, would either of these courses be of benefit? thanks in advance.

what2do

The funds industry in Ire is currently being hit with a number of redundancies, with the dropping value of funds impacting revenues received. Perhaps I'm being a little negative however before making a commitment to this industry you should probably do some research as to how its future looks.

pedroj

Thanks 4 reply what2do. Well I know that 99% of firms involved in funds in Ireland currently on a job freeze through friends, but I do believe this is the same with almost every industry at the moment until the initial shock of the world wide recession levels out, having done research in October I do know that the industry was on good footing and planning to increase by 8% this year despite the recession initial shock, mainly as Ireland one of the few fund centers in Europe along with Luxemburg. Yet i do understand most of the banking/finance sector either reducing or freezing job numbers. I believe Funds Admin based on set fee generally not on the funds value so dont think would be huge impact, more the bankruptcy of companies n decline in overall wealth means everyone more price sensitive. (Could be wrong)

However most of the recruiting at the moment seems to be for senior positions so need get foot in door and not sure how I will do this apart from increasing technical skills and knowledge and emailing places about internships/voluntary role


Thats why im doin the course mentioned as well as Microsoft Office specialist course. Just wondering is there any other courses people would advise which look good to potential employers which I can do now?? thanks again

ixus

No need for CFA or QFA.

Basic accounting/numeracy skills and good with excel should more than do you if it's just a foot in the door you're looing to get.

I wouldn't put any moremoney into courses for this role, the specialist cert would be decent.

AARRRGH

I know a couple of guys who work as fund accountants. Couple of things -

1. Lots of them are being made redundant. It is a very precarious industry at the moment. This has nothing to do with the economic slowdown - the redundancies/office closures were announded well over a year ago.
2. They all hate their job. It is basically a glorified administrator position, which any mongo could do. One of my friends didn't even go to college - he just pretended he did! He says it's simple, and I would not consider him the smartest person in the world... Previous to his fund accountancy job he was a labourer.

pedroj

well i just know its good area get foot in door and develop...as you said aaargh its wasnt hard get entry level role in past few years...after year or 2 hope to move up to management position which I heard is far more interesting as I heard the same off friends who work in fund accounting (boring, very repetitive job until you move up to management/supervisor level). Def want job in finance but the retail banks have all cancelled their grad programmes and are on job freezes.

That plus heard most fund companies will support accounting exams which I hope will open up more doors for me in 2-3 years . Think just need experience but catch 22 is almost all fund companies wont take you on without experience at mo... but how do you get that experience to start off with thats why hoping might be considered atleast if cv n courses look good enough

Was thinkin QFA be good banking retail roles if/when they sart hiring again...andwouldnt look bad for fund sector either..def decided finance job...just not sure best chance and route... thanks 4 advice so far.

AARRRGH

Foot in the door - I agree 100%.

pedroj

that plus accountin exams paid for...ok wages (average bout 28,000 starting off going by mates) n few years financial services experience can use to move to other areas (capital markets/investment/retail banking etc )... think thats worth it for year or 2 of boredom as think should open up other doors

IsThatSo?

pedroj wrote: »

Was thinkin QFA be good banking retail roles if/when they sart hiring again...

Don't do QFA until you are IN retail banking. When you get the qualification you may be able to apply for the cost of it back from your employer (always a good thing) and it will also look good to be studying and showing interest for your annual performance review etc etc etc.

Besides, your other qualifications are more than enough to get you a role in retail banking, probably one that will bore you to tears if you go branch route...................if you really want to go branch route start ringing around and getting the contact details of local HR Managers and send in your CV to be held locally. No point sending it into the big head offices.

pedroj

hmm good idea Isthatso?..had interview for Temp job in BOI in November but think runined it by saying I wanted get job show my abilities and skills to firm as was hoping to get on the BOI Grad programme at time thought was good idea show my commitment to firm even after temp job was over..then they cancelled the Grad Programme... so didnt get job :rolleyes:

Just think if do QFA now will give me better chance, esp if competing other applicants maybe with experience in banking, and be able hit ground running (esp wen i heard lottemp staff let go last few months and ill be competing against all of them for jobs

...then as you said isthatso? show my interest by doing specilalist certificate in wealth management or higher dip in Financial services was thinkin