Financial Services
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COVID-19 Is Teaching Accounting to Get ‘Comfortable With the Uncomfortable’
Read the rest of this entry »In the post-pandemic world, life at successful accounting firms will be very different from what it was just last year.
Partners will be more mentor than boss, engaging with staff in a more personal way than ever before. There will be a new emphasis on leadership and development. The consultative part of accounting will be center stage, as clients look for guidance and help in rebuilding their business. Technology adoption …
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Bank Finds Autism Spectrum Hires Make Great Technologists
Read the rest of this entry »In the five years since starting its Autism at Work program, global investment bank JP Morgan Chase has discovered there’s almost no job someone on the spectrum can’t do.
An autism spectrum candidate was interviewed for a developer job that required Java. It turned out it was a language he didn’t know, said Anthony Pacilio, the global head of the bank’s autism program.
“We interviewed him on a Friday and …
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Companies Are Finding Virtual Recruiting to Be More Efficient
Read the rest of this entry »It takes a little getting used to, but companies are finding that recruiting executives remotely offers more than enough benefits to make up for the lack of in-person meetings.
“There are many ways where the virtual recruitment is more efficient than what we did before,” said Jacqueline Welch, chief human resources officer and chief diversity officer at mortgage-finance giant Freddie Mac.
She told The Wall Street Journal that Freddie …
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Investment Banks May Start Hiring in Q3
Read the rest of this entry »Investment banks are having a strong year.
After taking belt-tightening steps last year and announcing cost reduction plans this year, the coronavirus pandemic and subsequent business shutdowns worried the industry that more draconian action might be coming.
That prospect now is much less likely. Most investment banks had a strong 1st quarter and are on track for an equally good Q2.
Reporting on positive financial news from three of the …
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Bank Uses Lockdown to Train New Managers, Refresh Others
Read the rest of this entry »Just days before the UK announced a coronavirus lockdown, Lloyds Banking Group launched a training program for new line managers.
Even for seasoned managers, moving to an entirely virtual world while working remotely for the first time posed exceptional challenges. For new managers, it could have caused training to fall completely off the priority list.
Fortunately for the global firm, much of the program was online, and with the flexibility …
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Banks, Asset Managers Begin Hiring Again
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Amidst a volatile stock market that's seen more ups and downs -- more ups than downs in the last few weeks -- than a roller coaster, more than a few banks did so well in the first quarter some have resumed hiring while their employees are beginning to anticipate year-end bonuses.
"As the pandemic persists, there are signs that banks are biting the bullet and going ahead with interviewing and …
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Security a Concern For Accountants Working Remotely
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As the coronavirus continues to spread, a growing number of companies are telling employees to work from home.
While it is one way to avoid exposure to the virus, remote work presents a unique set of problems for companies unprepared to conduct business entirely or even partially over the internet. Besides the potential for overtaxing in-house systems and inadequate connectivity at home, cybersecurity concerns present an even greater concern. With …
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How to Build a Resume For a Career In Banking
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Across the nation, accounting, finance and business majors are locking in this summer’s internships. Some were lucky enough to accept offers in the fall. Most are doing that now.
There’s one group, however, that is looking ahead to summer 2021. Those are the undergrads intent on a career in investment banking, where internship recruiting by many of the largest banks and firms starts earlier than almost any other industry sector. …
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Banks Struggle to Contain Expenses In Face of Wage Growth
Read the rest of this entry »Squeezed by low interest, constrained by competition from raising prices and facing shareholder pressure to improve returns, the banking industry is struggling to control costs while labor shortages and public sentiment is pushing for higher wages.
American Banker says the $56.7 billion banks spent on salary and benefits in Q3 last year was 18.4% higher than in 2014.
Those expenses are expected to rise even more this year, as industry …
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Are Boomers Banking's Next Gen Customers?
Read the rest of this entry »With Gen Z -- that generation born after the mid-1990s -- beginning to earn their first paychecks, the establishment banking industry is rushing to sign them up and capture their loyalty before they decide to go with a fintech startup.
"Financial marketers must reach out to this generation right now or their window of opportunity may slam shut forever," cautions The Financial Brand's Executive Editor Steve Cocheo.
The dire warning …
