Finance jobs – Save Western OH Mon, 13 Sep 2021 22:12:56 +0000 en-US hourly 1 Finance jobs – Save Western OH 32 32 The Covid stimulates the growth of banking and financial jobs Wed, 18 Aug 2021 22:07:33 +0000 The productivity of the banking and financial sector is in question, with ABS data showing that salaried jobs in finance in Australia have increased by 10.6% since the deployment of Covid in early 2020. This growth rate is only exceeded (and understandably) by health and public administration, while salaried jobs are declining in all other […]]]>

The productivity of the banking and financial sector is in question, with ABS data showing that salaried jobs in finance in Australia have increased by 10.6% since the deployment of Covid in early 2020.

This growth rate is only exceeded (and understandably) by health and public administration, while salaried jobs are declining in all other sectors.

Tom Gunson, Partner and Leader in Financial Services at PwC Australia, told Banking Day:

“The increase in the number of jobs in financial services since the onset of COVID-19 is largely due to the strengthening of their key teams in contact with customers (such as contact centers).

“This was the case in all financial services sectors, but the biggest impact was seen in the banking sector. These direct-to-customer teams received a significant increase in call / query volume not only when these support packages (e.g. loan deferrals) were initially offered – but also when they took late and that banks have checked with customers on their continued ability to repay their loans.

Secondary drivers of increased employment in the financial services sector “include their continued commitment to implement their long-term transformational strategies despite COVID, which has required them to continue to develop their capabilities in areas skills like data, digital and technology, ”Gunson said.

“It has also resulted in a potential change in the composition of the workforce (rather than the total size), such as an increase in the number of employees on the payroll (permanent staff) versus fewer roles in the payroll. subcontractors and the use of external consultants.

“The transaction activity has also created additional demand, on top of the substantive change programs that existed before COVID-19 and remain in flight.

“When organizations merge or are bought out, we should see efficiency gains manifest in the medium term and the demands for talent for integration efforts diminish.

“Some organizations outsource certain activities because the business continuity plans for the offshore activities do not prove to be solid and the operational risk is more manageable on land. Whether temporary or permanent depends on the organization and other contextual and strategic factors.

Another driver is the relocation of jobs previously undertaken mainly to India and the Philippines.

Jason Hall, local executive secretary of the Finance Sector Union in Adelaide, said the increase in paid jobs reflected the decision of a number of banks (notably, in his field, Westpac) that “bought some of this [processing] working ashore from offshore suppliers.

“But that’s also due to an increase in the size of the team, especially around COVID and the struggles,” Hall said.

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UK Export Finance: analysis of supported jobs 2020-21 Tue, 22 Jun 2021 07:00:00 +0000 UKEF provided a record level of financial support to UK exporters in 2020/21 – £ 12.3 billion in new loans, insurance and guarantees. Our analysis shows that: Our financial support in turn supported £ 11.3 billion of UK economic output (including amounts subsequently reinsured by other export credit agencies and private insurers) This has consequently […]]]>

UKEF provided a record level of financial support to UK exporters in 2020/21 – £ 12.3 billion in new loans, insurance and guarantees. Our analysis shows that:

  • Our financial support in turn supported £ 11.3 billion of UK economic output (including amounts subsequently reinsured by other export credit agencies and private insurers)
  • This has consequently supported up to 107,000 full-time equivalents in the UK (AND P) works.
  • Of the 107,000 jobs supported in 2020-2021, 58,000 were directly employed by exporters and 49,000 employed by their supply chain.

1. Modeling methodology supported by jobs

The methodology we use is based on the Input-Output analysis used by the Export-Import Bank of the United States and the Department for International Trade. We are using AND P effects, produced by the Office for National Statistics (ONS), who estimate how much AND P jobs are needed to produce £ 1million of output in each industry – that is, the ‘job intensity’ of production. we multiply AND P value effects of UK exports (matched by industry sector and adjusted for price inflation to align with recent AND P publication of effects) to estimate the number of AND P works UKEF supported. From the publication AND P effects and multipliers, we are also able to calculate both “direct” and “indirect” effects AND P effects, demonstrating the employment intensity of the industry we directly support and the employment intensity of the supply chain industries we support indirectly.

The breakdown by UKEF products and accounts given below is based on internal management information data for each company supported by UKEF. However, we note that our estimates of sustained employment do not directly relate to the value of guarantees, insurance and loans issued and effective. They also depend on the value of export contracts and the UK content of those contracts. In addition, the AND P the effect, or intensity of employment, can vary widely depending on the industry of the exporter.

2. Definitions

We present the results for the two direct jobs (employed by the UK exporter supported by UKEF directly) and indirect jobs (jobs supported throughout the supply chain), as well as UKEFproducts and accounts of (business segments). Full definition of UKEFThe products and accounts of s can be found in the annual report and accounts.

It is important to note that we are not estimating the number of newly created jobs or jobs that would not have existed without UKEF. These estimates should be taken to relate to existing jobs in the UK (i.e. jobs supported by UKEF).

We focus on AND P jobs – which standardizes hours worked – to accommodate different work models. For example: a part-time employee working 20 hours per week can only count for 0.5 AND P, while full-time work is 40 hours.

3. Results

3.1 Total AND P supported jobs

Total AND P supported jobs 107,000
Of which Direct AND P works 58,000
Of which indirect AND P works 49,000

3.2 Jobs supported by account

Account 2 (guarantees and insurance) 29,000
Account 3 (guarantees and assurances issued on written instructions from ministers) 5,000
Account 5 (direct loan) 2,000
Account 6 (Temporary Covid Risk Framework) 71,000

3.3 Jobs supported by the product

Buyer credit guarantee 16,000
Assurance 1000
Support for bond working capital or exports 8,000
Direct loan 7,000
General working capital 76,000

* Note: All estimates have been rounded to the nearest thousand jobs and numbers may not be added due to rounding.

3.4 Main conclusions

About two-thirds of jobs UKEF supported in 2020-21 have been linked to our Account 6 activity, subscribed and recognized as part of our Temporary Covid Risk Framework (TCRF). The TCRF was agreed with HM Treasury and established in April 2020 to support UK exporters through COVID-19.

General working capital, largely through our new Export Development Guarantee product, accounted for the majority of jobs supported.

4. Key assumptions

We adapt British economic production to the ONSAND P effects by the industrial sector defined by the Standard Industrial Classification (CIS) codes. When an exporter has several CIS codes, we use the average AND P effects on all CIS codes.

The ONS‘latest estimates from AND P the effects refer to 2015. Therefore, we assume that the historical relationship between AND P jobs and production are maintained for 2020-2021.

Not all outputs are supported by UKEF will be exported – as with our new Export Development Guarantee – our estimates therefore relate to UK business economic output, not necessarily UK exports.

The value of UK economic output is based on estimates of UK content associated with contracts backed by UKEF.

Due to the nature of the guarantees which constitute the bulk of UKEF, we cannot estimate the value of British economic output spread over the actual “production period”. For example: a £ 100million construction or manufacturing export contract backed by UKEF in 2020-21 may take 3 years to complete. Our estimate of the jobs supported by this contract could in fact be spread over these 3 years, depending on when the contracted activity is carried out.

Our estimates reflect the maximum number of jobs supported by UKEFloans and guarantees from, because we do not know if all loans will be fully drawn (but at the same time, we cannot say that they will not be fully drawn).

5. Limits

Our methodology does not estimate what would have happened without UKEF support so that we cannot be sure that these AND P jobs would not have existed without, or were also “created”, due to UKEFfinancial support from.

The ONS‘estimates of AND P effects are derived from historical relationships and based on industry averages, which may not be representative for UKEF-supported businesses (for example due to differences in production labor intensity between exporting and non-exporting companies). This is also based on a static observation of the data – AND P the effects may change through exporting, as companies adapt their production methods to new markets.

The use of AND P in this analysis means that we cannot identify the number of people employed (actual jobs), because one of the AND P can represent a single person with several jobs, or a job distributed among several workers. As is inherent in the analysis of any large dataset, given data limitations and many assumptions, our results should be treated as indicative rather than precise estimates.

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Talented women left behind while “mediocre” men occupy the best positions in finance Wed, 16 Jun 2021 07:00:00 +0000 Talented women are left behind as ‘mediocre’ men rise to the top by ‘imitating empathy’ and playing internal politics in financial jobs, study finds By Francesca Washtell for the Daily Mail Posted: 4:50 p.m. EDT, June 16, 2021 | Update: 04:08 a.m. EDT, June 17, 2021 Finance is still a male-dominated profession that allows “mediocre” […]]]>

Talented women are left behind as ‘mediocre’ men rise to the top by ‘imitating empathy’ and playing internal politics in financial jobs, study finds

Finance is still a male-dominated profession that allows “mediocre” men to rise to the top, research shows.

One study indicates that male middle managers hold women back because they are more adept at internal politics and tend to simulate empathy when leading women, acknowledging that the trait was now seen as valuable.

As a result, talented women are being left behind by the city’s deeply rooted male culture, says the London School of Economics (LSE) and the non-profit group Women In Banking and Finance that carried out the research.

Debbie Crosbie, Managing Director of TSB Bank

Counter the trend: Natwest boss Alison Rose, left, and TSB Bank CEO Debbie Crosbie (right) are shining examples of women who have reached the top

Women feel that they have less room for failure than men and that they must constantly give their best to progress.

Men had a lot more room to make mistakes or be average, the study found. Women also felt that bosses were much less likely to fight to keep them if offered another job.

And, in a blow to activists and the many equality campaigns, women still feel that maternity leave is holding back their careers. For black women, the research was of more concern: they believed they had to outperform white men and women.

This shows that the city still has a long way to go to improve opportunities for women, despite years of efforts to bring more women onto the FTSE 350 boards.

There are a few shining examples of those at the top, including Debbie Crosbie, Managing Director of TSB Bank, and Alison Rose, Patron Saint of Natwest.

The challenges women face in finance have also been highlighted by sexism and bullying scandals such as that at Lloyd’s Insurance Center in London in 2019.

One in ten workers said in a survey that they had witnessed sexual harassment at Lloyd’s in the past 12 months.

Grace Lordan, associate professor at LSE and founding director of The Inclusion Initiative, said women tended to be excluded or not given opportunities, while men tended to help people who were more like them.

She said the women interviewed thought he was “much more likely to be average men who ended up being gatekeepers to younger women who walked by.”

The Women on Boards UK campaign group revealed that less than half of the 260 small businesses on the London Stock Exchange have one-third of management positions held by women.


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This Toronto couple quit their finance jobs in New York City and returned home to start a grazing meat subscription service. Here is what happened Fri, 14 May 2021 07:00:00 +0000 This Toronto couple quit their finance jobs in New York City and returned home to start a grazing meat subscription service. Here is what happened]]>

This Toronto couple quit their finance jobs in New York City and returned home to start a grazing meat subscription service. Here is what happened

“The third lockdown was the perfect storm”: Why this restaurant decided to stop its take-out business and take a 28-day break

“I spent $ 40,000 to run my outdoor patio, and most went to the bathroom:” Toronto restaurateur reopens the day before returning to confinement

In October 2019, Charlie Iscoe and Laya Bail, originally from Toronto, quit their finance and marketing jobs in New York City. They bought plane tickets for a trip around the world, hoping to be inspired along the way. They made stops in South America, Australia, New Zealand, Japan and Europe, but did not come up with their new business idea until Covid forced them back to Canada. While living on a farm in Creemore, where Laya’s parents live, they started researching the meat industry and how they could logistically start a business supplying and delivering sustainable meat. In July 2020, they opened Sunday Farms to family and friends and has grown steadily through referrals and word of mouth ever since.

Charlie: As a business student at Ivey, finding a finance job in New York meant it all. So when I landed my first job at JP Morgan in New York in 2009, I thought I had made it. What I got instead were 100-hour work weeks and a social life that felt like a distant, sleep-deprived memory. Two years later, the investment world followed, where times were hardly better. Like so many of my Type A peers, I was experiencing what I later learned was the “deferred life plan”: work hard now, enjoy life later.

Laya: I have always been drawn to New York. My dad grew up in Brooklyn so I felt connected to the city. After graduating from McGill, I had my chance. I was accepted into a fashion marketing program at Parsons and moved into a dodgy apartment in Alphabet City. From there I made my way into the world of luxury fashion. At first my life looked a lot like The devil wears Prada, and I wasn’t Meryl Streep. But after a while, I went from being a cafe racer to being responsible for launching marketing campaigns for exciting global brands.

Laya and Charlie, visiting one of their partners, Riverside Farms in Millbank

Each Sunday Farms order comes in a reusable cooler bag like this one

Charlie: New York Torontonians have a way to find each other. I met Laya through a mutual friend and after a year of chasing her I convinced her to go to dinner with me. We immediately formed a bond around a good meal. Five years later, I offered a homemade osso buco. We talked about leaving it all behind and traveling the world before the responsibilities of parenthood set in, but those were just fantasies. Towards the end of 2019, I came home and told Laya that I had just finished my last day of work – I quit. At first she was in shock, but by morning we had pulled out a giant laminated map and started drawing lines across oceans and continents, figuring out where our journey might take us.

Laya: We favored countries known for their cuisine and natural beauty. This is how a four day trek through the Peruvian Andes became the first item on our list. There was no better way to disconnect than to be off the grid. What I remember most from this trip is the deep respect our local guides had for Mother Earth, which they called Pachamama. When it was time to eat, they explained what made each ingredient so special. Argentina was the next step, where the beef is like a religion. In New Zealand we grilled grass-fed lamb chops in the back of our campervan, and in Japan we started the day with wild fish caught a few hours before. At each stop, it was impossible to miss the incredible work and respect for quality agriculture that combine with good food.

Charlie:In March 2020, the Covid made its way to Europe, where we were at the time. With borders closing quickly everywhere, we ran to New York City, which was quickly becoming the epicenter of the pandemic. We quickly loaded everything into a U-Haul and left New York rudely. Holding back my tears, I told Laya I loved her, then drove 11 straight hours to her parents’ farm near Creemore. Our trip around the world was over and we had no idea what was to come.

Nathan Kuepfer of Riverside Farm, with his three sons. The two older boys are already doing their fair share of the work around the farm

Like collecting eggs, for example

Laya:I loved our life in New York City and leaving has broken my heart. Worse, we had gone on a journey in search of answers. Now that our trip was over, we didn’t feel any closer to finding them. We decided to take Covid out on the farm and think about what to do next. After a few weeks of working in the garden and eating dirt, we were amazed to realize that the same passionate farming that we spent months hunting across the world had literally been in our garden from the start.

Charlie:With no jobs and nothing but time, we began to read about our food system. The more we learned, the more we discovered the negative impacts of factory farming, which remain well hidden by the misleading words used to sell meat. We also learned that Canada is one of the few developed countries to still allow the use of harmful chemicals in agriculture, despite their known negative effects on our health. On a more positive note, we have started to understand the important role of regenerative agriculture in reversing climate change.

Laya:Fortunately, Charlie’s older brother Alex was already a few steps ahead of us. Alex was a father and, like so many parents, wanted to make sure he was feeding his children the most nutritious foods possible. Unable to easily find nutritious meat, he decided to go straight to the source, visiting many local farms until he found a handful that were properly raising their animals. He even had their 100% grass-fed beef lab tested against the beef he bought from his local butcher, which further confirmed his beliefs.

#pork goals

Armando the alpaca keeps the sheep in line

Charlie:Thanks to Alex, we found a solution to our problem of sourcing sustainably farmed meat. As we reconnected with our friends in Toronto, we realized how many of them were facing the same problem and wanted to be part of our solution. It was then that everything started to click. My brother already had a great relationship with local farmers, we had interested customers, and Laya had a background in marketing. Most importantly, we knew our client because we were our client. Sitting around the kitchen table of Laya’s parents,Sunday Farms was born.

Laya:Starting a business was new to us. It didn’t help that my parents’ farm was in an internet dead zone. I would not recommend starting an online business using dial-up speeds. On the other hand, one of the perks of our way of life was our new roommates. My mom is an amazing artist and quickly developed a positive attitude in response to my lack of digital design skills. After experimenting with different media, we landed on some paper cutouts for our website icons and brought some leaves from the garden to use for the color swatches. My dad, who wasn’t even on Instagram, was appointed as Resident Content Manager, and most of the meals got cold before we finished documenting them. It’s a real family business!

Charlie:As Laya learned how to set up a website, I rushed to attract more farming partners. My first call was blunt, with the farmer telling me that there was no money in grass-fed beef and our business was doomed. Good start! We continued and after a few weeks we had organized our first round of farm visits. As we passed many carriages in our car, we felt more and more out of place. But although we come from different worlds, we all spoke the same language and we saw ourselves as partners in a collective mission. Farmers always liked to have fun with us city dwellers. One of them asked me to help him collect some eggs – pretty easy, I thought. Upon reaching the chicken coop, I immediately received a sharp peck and panicked, pulled my hand away, slicing it on a metal grate. Laya, the farmer and his seven year old son burst out laughing – I guess we found out who the real chicken was that day.

Charlie and Laya (and Molly) with some lambs
It’s not all fun and games … but it looks pretty fun

Laya:Charlie wasn’t the only one receiving lessons from the local cattle. I’ve learned that chickens have very sharp claws and they don’t like to be held, as evidenced by a fairly large hole in one of my shirts. Despite some minor injuries – it was especially our pride that suffered – we found our partners and our first shipment arrived a few weeks later. At that time, I had instructions for accessing a working website. It was chaotic to say the least, but in just three months we were live. The site wasn’t perfect but the product was great, and we just needed people to try it out. One of the first things we did was set up a referral program, and soon we had second and third degree referrals who remain loyal customers.

Charlie:People always say that you wear a lot of hats to start a business. It’s true, but I would say it’s more like you’re wearing a lot of gloves. With no one to delegate to, you are not only responsible for the vision of the company: you are also an order picker, product sorter, delivery driver and everything in between. The irony is that I still work 80 hours a week, but those hours are much more meaningful than any financial job I’ve had. Our work and our passion are now inextricably linked – great food connected us to Laya and me from our first date – and we are constantly energized by our growing and loyal clientele. With every positive review or email from a satisfied customer, we are reminded that there are other people like us. People who are fed up with our broken food system and looking to live healthier lives by connecting to the food they put on their table.

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