N O R T H E R N T R U S T Limerick Institute of Technology Careers Evening 28 th February 2012 Bryan Sheedy Officer Northern Trust Limerick Antoinette O Donovan Ireland Recruiter 2009 Northern Trust Corporation
What is a Fund? A collective investment scheme to invest money alongside other investors in order to benefit from the advantages of working as part of a group. Advantages include an ability to: Hire an Investment manager, which should offer better returns and/or risk management Benefit from economies of scale - cost sharing etc Diversify more than would be feasible for individual investors. 2
Fund Industry Core Services Fund establishment and structuring Fund listing Fund administration Custodian and Trustee Transfer agency Company secretarial Tax, Audit and Legal 3
Why chose a career in the Irish Funds industry? Ireland is recognised as a Centre of Excellence in the provision of accounting and administrative services to investment funds. The Irish Funds Industry employs more than 11,000 professionals directly Assets under admin in Ireland was 1.88 trillion at the end of 2011 Ireland is home to 47 world class fund service providers The NAV of all Irish domiciled funds reached an all time high of 1trillion in Nov 2011 up 40% on Nov 2010 4
My Story 3 years in Limerick Institute of Technology studying for A.C.C.A. examinations 1 year in Athlone Institute of Technology Spent 11 years working for Audit firms in Limerick Joined Northern Trust in September 2008, as a Team Leader in the Private Equity Department Completed Professional Certificate in Invest Fund Services In process of doing the Diploma 5
Private Equity Attributes Not traded or published on stock exchange A private investment. Not available to the general public (some are by invitation-only) Long-term commitment: 10 years Management firm (general partner) involved in management of companies it funds and invests May specialise or diversify across industries or geography True valuation is unknown until portfolio company is exited Lightly regulated and relatively non-transparent 6
Private Equity Core Services Fund establishment and structuring Capital Drawdown Investment execution Funding accounting Investor Reporting Distribution Regulatory reporting/compliance 7
A Unique Business Focus Founded in 1889, Northern Trust is a market leader of asset servicing and asset management solutions for institutions and private clients around the globe. Corporate & Institutional Services (C&IS) worldwide institutional investors Assets under custody US $4.2 trillion Asset Servicing Asset Management Personal Financial Services (PFS) U.S. and European private clients As of 12/31/2011 (updated quarterly) Source: Northern Trust A highly focused business model supporting two client bases across a single operating platform 8
Northern Trust s Global Presence Chicago (Corporate Headquarters) Abu Dhabi Guernsey London Toronto Amsterdam Jersey Luxembourg New York Dublin Limerick Stockholm A Network of Offices in 18 States Bangalore Beijing Hong Kong Melbourne Singapore Tokyo 18 global locations 13,000 staff worldwide Services in 94 markets Clients in 40 countries 9
Ireland Local expertise, global reach. One of the first established fund servicing companies in Ireland. We service over 126 client groups representing over 646 funds US$184.2 billion in assets under administration Offices in Dublin and Limerick Over 600 staff Best Administrator Over $30bn AuA Funds of Hedge Funds European Service Provider Awards HFM Week (March 2010 and May 2009 - general category) European Client Relationship Manager of the Year ICFA European Awards, (November 2009) Fund Administration Excellence Award KPMG s Irish Financial Services Excellence Awards (May 2008 to date) 10 Departments include: Fund Accounting Financial Reporting Client Accounting Private Equity Pricing Property Global custody Transfer Agency Operational Risk Founding member of Irish Funds Industry Association Ranked as Ireland s fourth largest fund administrator and custodian by total net assets and second largest custodian by sub-funds in the 2010/2011 Lipper Ireland Fund Encyclopaedia
The Limerick Success Story Local View In March 2007 following an extensive search Northern Trust setup an office in Limerick.. Limerick was chosen for its central mid-west regional location and its excellent road, rail and air transport infrastructure that ensures the city is well-connected to other major locations within and outside of Ireland. Northern Trust is a 30 minute drive from Shannon Airport which provides flights from all over the world. Limerick Dublin Colbert Train Station in Limerick provides train services from all over the country. Our staff in Limerick travel from 7 counties to work at Northern Trust, namely Tipperary, Clare, Cork, Galway, Offaly, Kerry & Limerick. 11
Tips for Candidates CV Stand out from the crowd tailor your CV, invest time and prepare your CV Research -Know what you are applying for Include all relevant educational information including results, projects, memberships etc Include all relevant employment history What clients have you worked with? Include turnover Size Client interaction Have you trained/supervised more junior members of staff? Include key achievements Have the basics right layout, punctuality, grammar Know when to call a potential employer 12 Giving you the freedom to focus on what really matters
Tips for Candidates-Before the Interview 13 Be Prepared It is often the simple and most obvious things, which can make the difference between securing or losing your ideal job offer. Logistics A positive attitude is essential Research the company in as much detail as you can. Annual Reports Company Culture Values Employers Expectations What does the company do? What its products and services are? What is its growth potential for the future? Who are their main competitors? How are they viewed in the market place? There are a number of research applications providing this information. Among the most helpful are: The company's annual reports Kompass The Stock Exchange Research Handbook The Internet/Company websites Ensure that you are up to speed with the facts and figures of your present/former employer. Giving you the freedom to focus on what really matters
Tips for Candidates Interview 2 main reasons why people do not get offers 14 Giving you the freedom to focus on what really matters
Tips for Candidates Interview 1. Company doesn t think the person has the ability or skills to do the job 2. Company doesn t think the person wants the job How do you tackle those 2 issues? Ability?: Develop confidence in the client in your abilities to do the job Do you want the job?: Show enthusiasm for the job and the company 15 Giving you the freedom to focus on what really matters
Tips for Graduates Confidence How do I give the client confidence in my abilities to do the job? Match your experience to the job spec tell me about yourself? try and match your experience to 3 key points on the job spec Be assertive without being aggressive Give Examples for every answer you give never give yes or no answers Use Alternatives Weaknesses 16 Giving you the freedom to focus on what really matters
Tips for Graduates Enthusiasm How do I come across as enthusiastic in the interview? First impressions Dress-code always dress smart for an interview but be comfortable Timing be on time, but don t be too early Eye contact and smiling make sure you maintain eye contact and that you smile in the interview Be aware of your Body language Interact with the client - ask questions End on a positive 17 Giving you the freedom to focus on what really matters
Typical Employer Questions Any Questions 18 Giving you the freedom to focus on what really matters