GUEST COMMENT: Seven tips to get your CV in shape for a role in the funds industry
There's no shortage of generic advice on how to structure your CV, but while these provide some good tips formatting and structure, there's lack of real information on how to sell your skills for particular sectors.
Every CV, of course, should be targeted at specific job roles or sectors and fund accounting in Ireland is no exception. However, even within this, it's important to note that the day-to-day activities fund accountants or fund administrators within various firms will differ greatly depending on the location, size and type of firm.
There are some mistakes a lot of candidates in the funds industry make, some specific to the industry and others more general. These include a CV longer than two pages, day to day duties that come straight from the job description, no mention of achievements, a lack of explanation of the type and size of funds managed and unexplained gaps, to name but a few.
However, here are seven things we want to see in candidates' CVs when they apply for a role in the funds industry.
1) Make it personal
Yes, a CV is a formal and professional document, but it's also the one (and sometimes only) opportunity you have sell yourself to a potential employer. It is essential to bear in mind that this is the chance stand out from your peers or colleagues and so your previous experience, achievements and qualifications must be personal to you, not a list of what you think an employer wants to hear.
2) Tell us about your company and your role within it
In Ireland there are a healthy mix of boutique fund houses, mid-sized operations and the larger firms with hundreds of employees. In order for us to understand your role within that organisation, we need you to tell us what your department is responsible for, how big your team is and what how your job fits within the structure of that division.
In some firms the fund accounting process will be functionalised and employees may be an expert in one or two specific parts of the process. Some smaller firms have a centralised function and therefore employees will often have knowledge of the fund lifecycle from beginning to end. It is important that you highlight the type of experience you have and how deep your expertise is.
3) Be specific about your product knowledge
It's possible to switch to different types of fund accounting product types, but very often the type of fund you work on helps illustrate your skill-set; whether that's mutual, hedge fund, fund of fund or private equity.
However, we also want to see more granular information; what was the frequency of the fund calculations: daily, weekly or monthly and what was their quantity? Are you responsible for managing funds for a key or large client? What type of customers do you work with; investment managers, hedge funds or larger institutions? All of this information needs to be listed (concisely) before you start explaining to the duties of your job.
4) Time to list the duties
Of course it's important to list your daily activities and responsibilities, but try and follow two rules: keep it brief and in bullet point format, no more than two lines per point and, if you've worked in similar roles within different companies, be sure to point out how the jobs differ, rather than simply regurgitating the same job description.
5) Really emphasise what you have achieved
One of the consequences of the financial crisis is that the funds industry shifted from one where job-hopping was frequent to a sector where most candidates have now spend 3-5 years in the same role.
In these circumstances, it's likely that your responsibilities will have increased and your job title changed. You need to outline this progression; include supervisory experience, exposure to checking and correcting junior team members' work, information about specific projects and client interaction. This is a change to really sell yourself but, again, keep it brief so you can elaborate at interview stage.
6) Don't be afraid to point out your IT skills
A number of firms are actively increasing efficiencies in the area of fund accounting and processes are become more automated. With an increase in the number of mergers and acquisitions also taking place, experience in working with a variety of platforms is a strong advantage. It is also good to highlight experience of testing new systems and working with a project team in the development of systems.
7) Highlight your qualifications, not just your education
Your degree is, of course, important. However, if you should also include any details of relevant professional qualifications and any further training you've undertaken. This will help to highlight your interest in particular topics as well as your ambition to succeed.
Eimear Walsh is senior consultant, financial services at Brightwater recruitment in Dublin