Andrew Skipper is a financial accountant at Fidelity. We’ve asked him a few questions about his career and he’s agreed to answer a few more from readers. If you’re a student who wants to know more about working in asset management or accounting, post your question below. Andrew will be answering selected questions between Monday 14 July and Friday 18 July.
Where and what did you study?
I completed my master's in accounting & finance at Aston Business School in 2007. Now I’m studying for a professional accountancy qualification with the ACCA (Association of Chartered Certified Accountants).
When did you join Fidelity?
September 2007.
What does your role as a financial accountant involve?
At the moment, I’m the accountant for our Irish business – looking after regulatory reporting issues, liaising with the auditors, preparing our year-end financial statements and producing monthly performance reports. On the graduate scheme here, we get rotated around different areas of finance, such as treasury, group reporting, fund accounting or business finance. So I’ll have had exposure to back, middle and front office roles by the time my training is finished; then I can focus on what I enjoy most and where my skills are best suited.
Why did you decide to go into financial services?
I’m originally an environmental biology graduate and had actually worked in science for three years before doing my master's. I realised I enjoyed the financial side of things and wanted to get a good business grounding first. The financial markets interested me, so I went along to a presentation that Fidelity held at my university. After talking to people from the company and hearing about their experience first-hand, I decided that the investment management sector was for me.
How did you come to be in your current role?
I applied through the website and was invited to an assessment centre after an initial telephone interview and some online tests. The assessment day involved various exercises to demonstrate communication and teamwork skills. It’s an important part of the process and really puts you to the test.
What skills are required to do well?
You need to have a fairly investigative mind and enjoy analysis of numbers, identifying and explaining any movement in figures. It takes confidence to be able to interpret and present your findings to senior management, as they make decisions based on the information you provide for them – so it’s crucial that they trust your judgement. That means communication skills are key. There’s also a lot of inter-departmental liaison: you rely on other people getting figures and information sent through accurately and on time, therefore you need to have a strong working relationship with those people.
What tips have you learned that you could pass on to undergraduates thinking about getting into financial services?
Know the financial sector inside out – only by understanding the challenges faced by potential employers can you relate to your interviewers; it also helps you to ask informed questions.
Also, take responsibility for your own career path – things won’t just fall into your lap. Financial services is highly competitive; the greater exposure you can proactively gain, the better equipped you’ll be to get ahead.
Finally, if you’re taking professional qualifications, you need total commitment. When you’re working full-time – especially at busy reporting periods – it takes discipline to open your textbooks when you get home after a hard day’s work.
What was the hardest thing you were asked to do in an interview?
Add your comment »So how do you find your relationship with the other grad(s) on the accountancy graduate programme? Is there a social aspect to work?
Add your comment »What tips can you give to graduates who are finding it hard to break into the industry, especially in the current financial climate? What can one do in order to stand out from the crowd?
Add your comment »Economics graduate: Getting into the industry at the moment is more difficult, as some companies are recruiting fewer people than they have in the past few years. Being able to show a commitment to working in the industry over a period of time is probably the best way to get ahead. Completing courses such as the IMC and IAQ are likely to stand out on your CV to an employer, as my MSc has certainly stood me in good stead. These require a financial commitment and something like a MSc would be extremely expensive, so the IMC/IAQ are perhaps more viable, but all pay dividends in the long run.
Add your comment »Norah: Being asked to state what your biggest weakness is was always a difficult one, as there is a danger you can end up shooting yourself in the foot. I always used examples that I considered were positive from the point of view of the company, but could be considered a weakness from your own point of view e.g. Over-analysing situations - the company would be likely to benefit from this, but you might end up driving yourself mad!
Add your comment »Alexander: When you first start at the company its very helpful to have somebody who is new, and in the same situation as yourself, but once you have integrated into the company, unless you are working closely together you find yourself having very little contact with them. There is certainly a social aspect to work, as all the grads on the various different schemes started together and you end up becoming friends very quickly and always find time for a few drinks now and again.
Add your comment »I am a recent graduate in International Relations and Economics and my long term goal is to work in asset management field. However, I'm sure that one needs an experience to get into it. What can you suggest me to do or to start with?
Add your comment »Andrew, I graduated last year and I am currently on a management grad scheme in an energy company. I am looking for a career change in asset management. Do I have any chances to be hired after finishing the grad scheme or is it out of question due to preference to fresh grads? Thanks
Add your comment »Hi Andrew. I worked as an Economist for two years after my undergrad and I'm now on course to finish an MSc in Finance and Economics with a distinction this September. The MSc has given me a good grounding in basic finance and econometric theory, although I still have no accountancy knowledge. Being an insider in the industry, where do you feel someone with my background would fit best? Also, can you tell us a little bit about what your typical day involves? (e.g. when you get in and leave, how much time you spend talking to people as opposed to working on your own on a PC, how many people work in your team, etc). Thanks in advance.
Add your comment »I am currently planning on getting a trainee place on a non Big 4 company where I will hope to complete an ACA within 3 years. I am wondering within Fidelity take on ACA's out of the Big 4 or if they just mainly concentrate on the Big Four. Additionally, what positions would an ACA individual be hired in?
Add your comment »