What is a hedge fund "asset servicing operation"

SlanGoFoil2011

Does anyone know what a hedge fund "asset servicing operation".

What do they actually do and what does it mean.

SBWife

Back office

Make sure trades are accounted for properly, fund valuations, fund return figures, probably some compliance, maybe some risk management.

SlanGoFoil2011

is working in the asset servicing operation a good idea for as change of career or is it glorified admin?

ie. is the money for this type of work good.

LightningBolt

Very limited career progression to be honest. Starting salaries in most administrators tend to be much better compared to practice salaries. You'll basically be doing fund administration as SBWife outlined.

SlanGoFoil2011

what do you mean compared to practice salaries.


What type of salary would you expect

LightningBolt

SlanGoFoil2011 wrote: »

what do you mean compared to practice salaries.


What type of salary would you expect

Have you any idea what you're getting yourself into? Surely you at least know if you want to do accounting you can either do it through industry (i.e. financial services, manufacturing/retail companies) or practice (i.e. Big 4, Top 10, small accountancy firms).

Starting pay in industry is usually higher. No idea of the rates for industry. It's industry specific and depends on the size of the company along with what sort of study benefits they give you.

SlanGoFoil2011

No idea what i am getting in to, which is why i am asking

greenketchup

LightningBolt wrote: »

Very limited career progression to be honest. Starting salaries in most administrators tend to be much better compared to practice salaries. You'll basically be doing fund administration as SBWife outlined.

I don't agree with the limited career progression, like anything if you show iniative and work at the opportunities are there. In the right company, you can really rise, i'm speaking from experience, international opportunites and home grown (although this has slowed due to market conditions). The funds industry is huge, it doesn't suit everyone, some people are suited to practice granted, but the industry is big in Ireland.

Salaries are usually better that practice (initially anyway) and they rise as you move up the ladder and with your experience.

LightningBolt

greenketchup wrote: »

I don't agree with the limited career progression, like anything if you show iniative and work at the opportunities are there. In the right company, you can really rise, i'm speaking from experience, international opportunites and home grown (although this has slowed due to market conditions). The funds industry is huge, it doesn't suit everyone, some people are suited to practice granted, but the industry is big in Ireland.

Salaries are usually better that practice (initially anyway) and they rise as you move up the ladder and with your experience.

If you're doing fund accounting your chances of career progression outside of fund accounting will be far less in other fields compared to someone who has come from a big four background. I'm in no way doubting the capabilities of those doing fund accounting but if you're going for a job against someone from big four background the person with big four background will get the interview ahead of you. In terms of internal promotions I'm sure it's different.

greenketchup

LightningBolt wrote: »

If you're doing fund accounting your chances of career progression outside of fund accounting will be far less in other fields compared to someone who has come from a big four background. I'm in no way doubting the capabilities of those doing fund accounting but if you're going for a job against someone from big four background the person with big four background will get the interview ahead of you. In terms of internal promotions I'm sure it's different.

Agreed, funds are very specific, and a big 4 background will open a lot of doors, but like any good career move you need to have an idea of where you want to go before you go there. Big 4 will give you options

SlanGoFoil2011

This the the Diploma course I was thinking of doing

http://www.fsicareerstart.ie/qualifications-offered/diploma-in-financial-services

with Option 3. Part B.

What do you think