financial services – Save Western OH http://savewesternoh.org/ Wed, 09 Mar 2022 01:36:15 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://savewesternoh.org/wp-content/uploads/2021/08/cropped-icon-32x32.png financial services – Save Western OH http://savewesternoh.org/ 32 32 The number of women in C-Suite Finance jobs is growing – but the view from below is less rosy https://savewesternoh.org/the-number-of-women-in-c-suite-finance-jobs-is-growing-but-the-view-from-below-is-less-rosy/ Tue, 08 Mar 2022 12:40:42 +0000 https://savewesternoh.org/the-number-of-women-in-c-suite-finance-jobs-is-growing-but-the-view-from-below-is-less-rosy/ The job prospects for women in finance over the next decade look promising to some, but far more uncertain to others. The share of women in leadership positions in the North American financial services industry is expected to increase from 21.1% to 28.3% from 2021 to 2030, according to a new Deloitte report that studied […]]]>

The job prospects for women in finance over the next decade look promising to some, but far more uncertain to others.

The share of women in leadership positions in the North American financial services industry is expected to increase from 21.1% to 28.3% from 2021 to 2030, according to a new Deloitte report that studied the percentage of women in various categories employment in the industry from 1998 to 2021. However, the figures for categories below the C-suite level are less encouraging: the percentage of women in leadership positions (c. generation” (i.e. all the others) could see a decline of 90 basis points.

Patty Danielecki, senior director and chief of staff at the Deloitte Center for Financial Services, said II that recent declines in non-C-suite levels stem from the fact that during the pandemic, fewer women chose to pursue careers in finance. “Now is the time to act,” she said, “because what we do now will influence what happens in the next decade.”

The lack of gender equity is particularly pronounced in the alternatives industry. According to the latest Preqin report, only 13% of leadership positions in alternative investing are held by women. This compares to 24% of such positions in the entire financial services industry.

In private equity firms, women make up one-fifth of the total workforce but only make up 14% of management positions. Similarly, only 10% of hedge fund portfolio managers and 19% of real estate fund managers are women, according to the Preqin report.

“Until women are better represented at the highest levels of the alternatives industry, progress will be slow,” said Jaclyn Bouchard, head of ESG solutions and corporate responsibility at Preqin. In fact, in the asset management industry as a whole, women are more likely than their male colleagues to leave their employer. According to the Citywire Alpha Female Report 2021, the turnover rate for female fund managers is 44%, compared to 31% for males.

Progress in gender equity also varies from region to region. For example, while the proportion of women employed in private equity firms has increased over the past three years in North America, Europe and Asia, the same figure has decreased by 60 basis points between 2020 and 2021. in other parts of the world, according to Préquin.

In Oceania, women are expected to hold 34% of leadership positions in the financial services sector by 2030, up from 25.2% in 2021, according to Deloitte. Elsewhere, progress is likely to be more muted: in Asia and Africa, the share of C-suite women will remain largely the same, while in South America the number is expected to fall from 11.6% to 7.7% .

“These geographic differences must be considered in the context of the economic, socio-cultural and regulatory environment,” said Orsolya Gal, senior investment analyst at BNP Paribas Asset Management. She added that larger-cap companies, which have a greater presence in developed regions, “tend to integrate diversity issues more easily than smaller companies.”

There are many strategies designed to increase the percentage of women in the financial services industry, including implementing comprehensive diversity, equity and inclusion programs. But DEI programs alone “will not be effective in attracting more women into leadership positions until they are tied to higher pay,” said Sloan Klein, career coach for industry executives. investment management and financial services.

Bouchard agrees, but says companies also need to incorporate other strategies, such as “casting a wider net when recruiting women into junior roles, developing metrics to track progress, and adding diversity metrics.” of gender in due diligence procedures”.

]]>
A quick fix for women looking for a job in finance https://savewesternoh.org/a-quick-fix-for-women-looking-for-a-job-in-finance/ Tue, 15 Feb 2022 18:46:00 +0000 https://savewesternoh.org/a-quick-fix-for-women-looking-for-a-job-in-finance/ If you are a woman applying for a job in banking and financial services, this should theoretically be your time. As we noted yesterday, most banks are making significant efforts to hire more women to meet ambitious diversity goals. In some banks (eg Lazard), it seems that more than 75% of people hired over the […]]]>

If you are a woman applying for a job in banking and financial services, this should theoretically be your time. As we noted yesterday, most banks are making significant efforts to hire more women to meet ambitious diversity goals. In some banks (eg Lazard), it seems that more than 75% of people hired over the next few years must be women if the objectives are to be achieved.

But what if women don’t play the game? As banks work hard to improve their diversity numbers, there are signs that women’s reluctance to apply for jobs could be holding them back.

Figures from eFinancialCareers show that women who search for jobs on this site apply for almost 20% less than men. Year-to-date, in 2022, men applied for 41% of the jobs they viewed; women only applied for 35%.

Since men also view more than twice as many jobs on eFinancialCareers as women, the gap in application rates has a significant impact. If women want more jobs in finance, that implies they might deliberate less and apply more.

Kate Grussing, former head of EMEA strategy at JPMorgan who now acts as a mentor and headhunter for women in finance, says women tend to be more discerning when choosing jobs to apply for. “Women are more loyal to their current employers and tend to think they will only apply if they are 100% sure of what they are looking for. They don’t want to disrupt their current situation unless it is the good role.”

The implication is that if women want to become more prominent in the financial services job market, they need to be less hesitant to put themselves forward. However, Grussing says employers may also see women’s reluctance as a plus. “The good news is that if you’re a hiring manager and a woman has applied, she’s much more likely to be serious,” Grussing says. “Men are more likely to throw their hats in the ring for all sorts of roles.”

Contact: sbutcher@efinancialcareers.com first. WhatsApp/Signal/Telegram also available (Telegram: @SarahButcher)

Photo by Christina @ wocintechchat.com on Unsplash

Be patient if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans may be asleep or away from their desks, so your comment may take a while to appear. Eventually, it will – unless it’s offensive or defamatory (in which case it won’t.)

]]>
List of Top 10 Finance Companies in India https://savewesternoh.org/list-of-top-10-finance-companies-in-india/ Wed, 02 Feb 2022 15:50:00 +0000 https://savewesternoh.org/list-of-top-10-finance-companies-in-india/ Top 10 finance companies in India: Non-Banking Financial Companies (NBFCs) are institutions that facilitate financial and banking facilities without actually meeting the criteria of a bank. These institutions are regulated by the central bank and play a vital role in the economic growth of a country. Here is the list of top finance companies in […]]]>

Top 10 finance companies in India: Non-Banking Financial Companies (NBFCs) are institutions that facilitate financial and banking facilities without actually meeting the criteria of a bank. These institutions are regulated by the central bank and play a vital role in the economic growth of a country.

Here is the list of top finance companies in India.

1- Bajaj Finance Limited: Founded in 2007, Bajaj Finance Limited is a subsidiary of Bajaj Finserv Ltd. Its head office is in Pune. The company is involved in loans, general insurance, consumer credit, small and medium enterprises (SMEs), commercial loans and wealth management.

2- Tata Capital Financial Services Ltd: Tata Capital Limited is a financial and investment services provider in India. The Mumbai-based company offers consumer loans, wealth management, trade finance, infrastructure finance, among others. The company is a subsidiary of Tata Sons Limited and was established in 2007.

3- Aditya Birla Finance Ltd: Aditya Birla Finance Limited is part of Aditya Birla Financial Services. It was incorporated in 1991 and offers precise and personalized solutions ranging from corporate finance to commercial mortgage lending, and from capital markets to structured finance.

4-L & T Finance Limited: L&T Finance Limited was established in 1994 and is headquartered in Mumbai. It offers financing services to different sectors such as agriculture, trade, industry.

5- Muthoot Finance Ltd: It is India’s first NBFC institution and its history dates back to 1888. Muthoot Finance Ltd only lends against gold ornaments and offers foreign exchange services, money transfers, wealth management, travel and tourism services.

6- Mahindra & Mahindra Financial Services Limited: Established in January 1991 as Maxi Motors Financial Services Limited, Mahindra & Mahindra Financial Services Limited is a non-banking rural financial company headquartered in Mumbai. It is among the leading tractor lenders in India and offers gold advances, working capital advances and ventures among others.

7- HDB Financial Services: HDB Financial Services is operated by HDFC Bank and offers secured and unsecured financial loans. It operates through Lending Business and BPO Services segments and is considered one of the fastest growing financial companies in India.

8- Power Finance Corporation Limited: Founded in 1986, Power Finance Corporation Limited provides financial assistance to different power projects in the country and supports organizations involved in the generation, transmission and distribution of electricity.

9- Shriram Transport Finance Company Limited: Founded in 1979, the company specializes in general insurance, mutual funds, common property, brokerage and general protection. The Company focuses, among other things, on the financing of commercial and commercial vehicles.

10- Investment and financing company of Cholamandalam: Cholamandalam Investment and Finance Company started as an equipment finance company in 1978 as a financial services arm of Murugappa Group and snowballed into a financial services provider.

Read also | Budget 2022-2023: List of major announcements related to the agricultural sector

]]>
Ponsonby Rd ​​death: Young driver convicted after hitting CFO Gregory John Spooner https://savewesternoh.org/ponsonby-rd-%e2%80%8b%e2%80%8bdeath-young-driver-convicted-after-hitting-cfo-gregory-john-spooner/ Mon, 31 Jan 2022 23:10:08 +0000 https://savewesternoh.org/ponsonby-rd-%e2%80%8b%e2%80%8bdeath-young-driver-convicted-after-hitting-cfo-gregory-john-spooner/ Gregory John Spooner, 37, died after being hit by a car on Ponsonby Rd ​​on May 31, 2020. Photo/NZME The tearful father of an Auckland finance director who was fatally hit by a car says the young driver, who ran a red light, showed no remorse. Robert Spooner and his family have made the difficult […]]]>

Gregory John Spooner, 37, died after being hit by a car on Ponsonby Rd ​​on May 31, 2020. Photo/NZME

The tearful father of an Auckland finance director who was fatally hit by a car says the young driver, who ran a red light, showed no remorse.

Robert Spooner and his family have made the difficult decision to remove 38-year-old Gregory John Spooner from life support after sustaining serious head injuries.

He was hit by a car which ran through a red light as it crossed a pedestrian crossing near the intersection of Ponsonby Rd ​​and Hopetoun St on the dark and rainy evening of May 31, 2020.

He died in hospital a week later on June 7.

“You have broken our hearts, you have hurt us deeply,” Robert Spooner said during the sentencing of Jack Fisher this morning at Auckland District Court.

“For the past 20 months, you have made no attempt to show us remorse.

“The only remorse you have is for yourself and no one else.”

But Judge Kirsten Lummis, who was also in tears, said Fisher was “not a bad person” and had “no doubt” his remorse was genuine.

“He’s not a bad person but he did a bad thing,” she said.

Fisher, 24, could be heard crying in the back of the courtroom.

He pleaded guilty to a charge of careless driving causing death. He was 22 years old at the time of the incident.

Fisher was sentenced today to 200 hours of community service and ordered to pay $13,000 in damages. Driving is also prohibited for 10 months.

Spooner’s father said he received a call from a surgeon at Auckland Hospital that not all parents wanted to receive – that his son was hit by a car at 7.15pm on May 31 and that he was hospitalized with a serious head injury.

“The next morning we went straight to hospital, we went to intensive care to see our beloved son lying unconscious in bandages and barely alive.

“It was clear it was extremely serious and it was clear they didn’t expect him to live.”

Spooner’s twin, Michael, lives in Melbourne and was unable to return home to say goodbye to his brother or attend the funeral. He attended the court hearing via audio-visual link.

The family are still waiting, more than 20 months later, to scatter Spooner’s ashes when his twin brother can finally return to New Zealand, the court heard.

Spooner is remembered for his many trips abroad, the way he spoke two languages, and his love of art and collecting New Zealand silverware and antiques.

He earned a law and business degree and was called to the bar. He was a chartered accountant and had an “incredible memory”, his father said.

“To society, Gregory is just a statistic, just another number. But to us…he was so much more,” Spooner’s mother Jean wrote in a victim impact statement read in court by a friend. of the family.

“How am I going to recover from losing a son unnecessarily? »

“Gregory was one of the good people in this world.”

His mother said she had appeared in court twice in her life – today and when her son was admitted to the bar.

A minute of silence was observed after the victim impact statements were read in court.

“It is quite evident that Gregory Spooner was an exceptional person and that he had managed to achieve a lot in his life and it is no surprise that we hear … that his friends and family have suffered an indescribable loss”, said Crown Attorney Jacob Barry.

Spooner started working for accountancy and consultancy firm Grant Thornton in Auckland in April after working in financial services for many years in London.

Russell Moore, national managing partner, said Spooner had made a big impact in his short time with the company at the time of his death.

“Even during the short time he worked with us, he made an extremely positive contribution to this role and developed great relationships with his colleagues. Gregory will be greatly missed; our thoughts are with his family and friends.” , Moore said.

Today defense barrister Andrew Speed ​​acknowledged the Spooner family’s ‘deep sense of loss’.

Speed ​​said driving conditions were difficult on the night of May 31 and that the driver’s lack of caution “was tragic”.

“It is his misconduct that brings him here today,” Judge Kirsten Lummis said.

She said her inability to stop at a red light was “nothing short of catastrophic”.

“The pain and sorrow you went through while [Spooner] was in intensive care was horrible,” Judge Lummis told his family in court.

“Covid has been cruel in adding to your grief, and has added to the pain of separated family at this time.

“I saw Mr. Fisher in court, I have no doubt the remorse is genuine.”

Judge Lummis said no alcohol or speed was involved in the accident.

This article originally said that Fisher felt he could not pursue restorative justice with the Spooner family because of the legal advice given to him. This statement was incorrect.

Subscribe to Premium
]]>
Sri Lankan financial firms raise 12.5 billion rupees of new capital https://savewesternoh.org/sri-lankan-financial-firms-raise-12-5-billion-rupees-of-new-capital/ Mon, 31 Jan 2022 08:00:00 +0000 https://savewesternoh.org/sri-lankan-financial-firms-raise-12-5-billion-rupees-of-new-capital/ ECONOMYNEXT – Nine financial firms in Sri Lanka have raised 12.6 billion rupees to shore up their capital and also offered consolidation plans, the central bank said. Sarvodaya Development Finance PLC, Dialog Finance PLC, Asia Asset Finance PLC, Lanka Credit and Business Finance PLC, People’s Merchant Finance PLC, Softlogic Finance PLC, Merchant Bank of Sri […]]]>

ECONOMYNEXT – Nine financial firms in Sri Lanka have raised 12.6 billion rupees to shore up their capital and also offered consolidation plans, the central bank said.

Sarvodaya Development Finance PLC, Dialog Finance PLC, Asia Asset Finance PLC, Lanka Credit and Business Finance PLC, People’s Merchant Finance PLC, Softlogic Finance PLC, Merchant Bank of Sri Lanka & Finance PLC, UB Finance Co Ltd and Richard Pieris Finance Ltd raised 12.5 billion rupees.

12 other companies are being consolidated.

The full statement is reproduced below:

Accelerated Non-Banking Financial Institutions Consolidation Master Plan

Under the Master Plan for the Consolidation of Non-Banking Financial Institutions (the Master Plan) implemented by the Central Bank of Sri Lanka (CBSL), the following 9 companies have already introduced new capital of Rs 12.56 billion to meet regulatory capital requirements: Sarvodaya Development Finance PLC, Dialog Finance PLC, Asia Asset Finance PLC, Lanka Credit and Business Finance PLC, People’s Merchant Finance PLC, Softlogic Finance PLC, Merchant Bank of Sri Lanka & Finance PLC, UB Finance Co Ltd and Richard Pieris Finance Ltd.

In addition, 12 companies submitted their acquisition/consolidation plans to CBSL and obtained the relevant preliminary approvals as follows:

1. Assetline Leasing Co Ltd – acquisition of Kanrich Finance Ltd’s finance business license and settlement of its deposits.

2. LB Finance PLC – acquisition and subsequent merger of Multi Finance PLC.

3. SMB Leasing PLC – acquisition of Swarnamahal Financial Services PLC’s finance business license and settlement of its deposits.

4. Commercial Leasing & Finance PLC – acquisition and subsequent merger of Sinhaputhra Finance PLC.

5. HNB Finance PLC – acquisition and subsequent merger of Prime Finance PLC.

6. LOLC Finance PLC – merger of Commercial Leasing & Finance PLC.

As a result of the above developments, the non-banking financial institutions sector has seen significant improvement in compliance with regulatory capital requirements and recorded the lowest levels of non-compliance in recent times.

]]>
CFO job with AUSTRALIAN NATIONAL UNIVERSITY (ANU) https://savewesternoh.org/cfo-job-with-australian-national-university-anu/ Thu, 27 Jan 2022 04:50:32 +0000 https://savewesternoh.org/cfo-job-with-australian-national-university-anu/ Classification: Senior Manager 1 Salary: $118,003 – $123,640 per year plus 17% superannuation Term: Continuous, full time Job description and selection criteria: 211201_FINAL PD_Finance Manager SM1.pdf Closing Date: February 13, 2022 Fantastic next-level opportunity to develop your finance career Use your excellent finance, service and team leadership skills to make a difference Flexible, friendly and […]]]>

Classification: Senior Manager 1
Salary: $118,003 – $123,640 per year plus 17% superannuation
Term: Continuous, full time
Job description and selection criteria: 211201_FINAL PD_Finance Manager SM1.pdf
Closing Date: February 13, 2022

  • Fantastic next-level opportunity to develop your finance career
  • Use your excellent finance, service and team leadership skills to make a difference
  • Flexible, friendly and supportive team environment
  • Excellent compensation and benefits packages, including 17% pension contributions; Christmas to New Year leave in addition to annual leave; salary sacrificing options for cars, parking, childcare and more

ANU College of Health and Medicine (CHM) staff are committed to solving problems through big picture and applied scientific research, and improving health outcomes for people everywhere . These inspiring ambitions are realized through our 3 schools – the John Curtin School of Medical Research; the National Center for Epidemiology and Population Health; and the School of Medicine, Psychology and Health Leadership – who work together to deliver world-class research and education across the full spectrum of medicine and health-related fields, and a partnership with industry. health at local, national and international levels.

About the role

The Finance Team is a professionally oriented management accounting unit located within the Professional Services hub of the College that provides high quality professional and administrative services to support core academic activities of research and education through the College. The Director of Finance reports to the Executive Director of the College and is responsible for managing the general finances of the College. The finance team is made up of up to six finance professionals who provide direct support to researchers in the management of grants and support their clients in the ongoing management of operating budgets. Your role would be to provide that same support and expertise to researchers, principals and the College executive.

About you

Our ideal candidate will be a highly motivated finance professional who wants to play an important role in providing high quality financial services across the College.

To be successful in the role, it is essential that you demonstrate that you:

  • are a confident, positive communicator with proven excellent customer service that delivers solution-based results
  • have relevant financial qualifications coupled with working knowledge and experience of contemporary financial principles and practices
  • enjoy supporting your team and can demonstrate excellent team building skills with a strong commitment to continuous improvement
  • have high-level analytical and problem-solving skills with a proven ability to interpret and apply financial policies and procedures
  • are highly organized with great attention to detail and can skillfully prioritize competing deadlines

If you have a passion for financial services, working in a collaborative team environment and satisfying your customers, we would love to hear from you.

For more information, please contact Donelle ClaudianosDirector General of the CHM at T: (02) 6125 3887 or E: donelle.claudianos@anu.edu.au.

ANU values ​​diversity and inclusion and is committed to providing equal employment opportunities to those of all backgrounds and identities. For more information on staff equity at ANU, visit https://services.anu.edu.au/human-resources/respect-inclusion

applicant information

To apply for this position, make sure to upload the following documents:

  • A statement addressing the selection criteria.
  • An up-to-date Curriculum Vitae (CV) that includes the names and contact information of at least three references (preferably including a current or previous supervisor). If your CV does not include referees, you can complete them online when prompted in the application form.
  • Other documents, if necessary.

Applications that do not meet the selection criteria may not be considered for the position.

Please note: The successful candidate must have the right to live and work in this country and will be required to undergo a background check during the recruitment process. A job offer is conditional on satisfactory results.

]]>
8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance https://savewesternoh.org/8th-national-e-summit-on-non-bank-financial-companies-and-infrastructure-finance/ Tue, 21 Dec 2021 08:00:00 +0000 https://savewesternoh.org/8th-national-e-summit-on-non-bank-financial-companies-and-infrastructure-finance/ 8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance The 8th National Electronic Summit on Non-Banking Financial Companies and Infrastructure Financing will be organized by ASSOCHAM on December 23, 2021 in virtual mode. Non-Banking Financial Companies (NBFCs) play a crucial role in the economy as they provide credit to Micro, Small and Medium Enterprises […]]]>
8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance

The 8th National Electronic Summit on Non-Banking Financial Companies and Infrastructure Financing will be organized by ASSOCHAM on December 23, 2021 in virtual mode. Non-Banking Financial Companies (NBFCs) play a crucial role in the economy as they provide credit to Micro, Small and Medium Enterprises (MSMEs).

Why participate?

  • NBFCs also provide credit to consumers and others in the unorganized sector in an organized and systematic manner. As specialized financial institutions, they have unique assessment methods and better coordination and collection mechanism to deal with customers, unlike banks.

  • Infrastructure is a catalyst for growth and the way forward for infrastructure finance in India looks promising despite the macroeconomic headwinds. India’s ambition to maintain its relatively high growth depends on one important factor: infrastructure. Several alternatives and avenues of long-term financing are explored in addition to traditional sources.

  • Keeping these imperatives in mind, the Department of Banking and Financial Services of ASSOCHAM is organizing the 8th National Summit of Non-Banking Financial Companies & Infrastructure Financing of ASSOCHAM “Transforming the financial lending landscape”.

  • The result of this effort will be an increase in confidence, affordability and accessibility in the financial lending industry and market. The main guests of the event are Shri Jayant Sinha; Honorable Member, Parliament and Chairman, Parliamentary Standing Committee on Finance and Special Speech will be delivered by Shri S Raman, CMD, Small Industries Development Bank of India, Shri Ajit Pai; Distinguished Expert in Economics and Finance, NITI Aayog, Shri Ashok Soni; Executive Director, Pension Funds Regulatory and Development Authority

For further details, please contact:

Event name:8th National E-Summit on Non-Bank Financial Companies and Infrastructure Finance
Website: https://www.assocham.org/
Dated: December 21, 2021

ASSOCHAM

Address: 4th Floor, YMCA Cultural Center and Library,
01, Jai Singh Road, New Delhi – 110001
Mobile:
08447365357
E-mail: Kushagra.joshi@assocham.com

Registration link:
https://bit.ly/3e5tt8k

]]>
Crypto Lawmakers and CEOs Agree House Finance Service Committee Hearing ‘Productive and Useful’ https://savewesternoh.org/crypto-lawmakers-and-ceos-agree-house-finance-service-committee-hearing-productive-and-useful/ Thu, 09 Dec 2021 17:00:24 +0000 https://savewesternoh.org/crypto-lawmakers-and-ceos-agree-house-finance-service-committee-hearing-productive-and-useful/ [ad_1] Most of the committee members came prepared and ready to learn more about cryptocurrencies and stablecoins, while the crypto witnesses represented the industry very well. Yesterday, the cryptocurrency CEOs of six blockchain-based companies testified before the House Committee on Financial Services, and the most surprising result was how engaged and civil everyone was. It […]]]>


[ad_1]

Most of the committee members came prepared and ready to learn more about cryptocurrencies and stablecoins, while the crypto witnesses represented the industry very well.

Yesterday, the cryptocurrency CEOs of six blockchain-based companies testified before the House Committee on Financial Services, and the most surprising result was how engaged and civil everyone was. It was almost as if the Capitol Cafe only served Happy Meals all day. There was virtually no bipartisan bickering or political stance. Policymakers asked thoughtful questions with meaningful follow-ups while CEOs’ FinTech panel of experts responded frankly and thoroughly.

All speakers declared having benefited from the hearing

Despite being over four and a half hours long – trust me, I watched it all – each speaker praised committee chair Maxine Waters (D-CA) for putting together such a “productive and useful” session. The CEOs of Circle, FTX, Paxos, Steller, Coinbase and Bitfury were all in attendance, with the CEO of Tether the only one absent according to Representative Sherman.

The discussion covered the spectrum of crypto topics

A wide range of topics were discussed, including: environmental sustainability; customer protection; regulatory oversight; crypto competition from other countries; risks / benefits of stable coins; threats to the dollar’s status as a global reserve currency; ransomware; Security; traceability of transactions; criminal use of cryptocurrencies, and more.

Stablecoin regulation has surfaced several times

Another key topic of discussion that came up at different times was what legislation Congress should consider regarding stablecoins. “Having daily attestations and periodic third-party audits to confirm that stable coins are guaranteed 1: 1 with regulatory oversight of this process is by far the most important coin,” said Sam Bankman-Fried, CEO of the FTX crypto exchange.

This response was immediately followed by statements from the CEOs of the only stablecoin companies present with their thoughts on stablecoin regulation. “Clarity on disclosure and reporting requirements, and on reserve and liquidity requirements – making it a focused set of laws – could be extremely valuable in building confidence in the market, market participants, and authorizing currencies. digital dollars flourish on the Internet, ”said Jeremy Allaire, CEO of Circle.

Paxos CEO Chad Cascarilla added, “I think it’s crucial for us to have a clear regulatory plan in place that creates parity between all of these different products. I think it’s really simple if you have a primary regulator, if you have clear reserves you make sure to back them up with cash or cash equivalents which creates a level playing field for all backing stablecoins. to the dollar, and then they will be really stable. “

Congress still in discovery mode concerning crypto

While the next steps are unclear, Representative Sherman said in passing that another round of hearings is planned that will target “academics and others” who will be less crypto-friendly. It should be noted that while several committee members expressed concerns and skepticism about the benefits of cryptos – largely because they admittedly didn’t understand the technology – the only real crypto cranky in the audience was the representing Sherman. “The advocates of crypto represent the powers of our society. The powers of our society on Wall Street and Washington have spent millions and are trying to make billions or trillions in the crypto world.”

Well, maybe the Capitol Cafe just ran out of Happy Meals when Sherman lined up for lunch.

[ad_2]

]]>
The $ 400,000 + finance jobs that are almost impossible to fill https://savewesternoh.org/the-400000-finance-jobs-that-are-almost-impossible-to-fill/ Wed, 17 Nov 2021 15:12:03 +0000 https://savewesternoh.org/the-400000-finance-jobs-that-are-almost-impossible-to-fill/ [ad_1] If there’s one thing that came out of this week’s Digital Asset Summit in London, it’s that crypto businesses around the world are growing rapidly. If there is any other, it is because finding the right people is not easy at all. Crypto and decentralized finance jobs and products are as disparate as traditional […]]]>


[ad_1]

If there’s one thing that came out of this week’s Digital Asset Summit in London, it’s that crypto businesses around the world are growing rapidly. If there is any other, it is because finding the right people is not easy at all.

Crypto and decentralized finance jobs and products are as disparate as traditional financial services jobs and products: there are trading jobs, customer-facing jobs, product management jobs, data jobs and, most importantly, engineering jobs. There are DeFi companies focused on custody and payments and DeFi companies focused on accessories trade, market making or brokerage premium. As the former Global Head of Credit Assessment at Barclays who turned crypto pioneer, Oliver von Landsberg-Sadie stressed that everything that exists in the “TradFi” world must ultimately be reflected in the DeFi world. “Spot trading was TradFi’s first mirror,” said von Landsberg-Sadie. “Then we had the evolution of derivatives, which are flourishing in the DeFi space.” In October came the first ETF linked to bitcoin.

DeFi has its big players, like Coinbase, which employs nearly 3,000 people. It also has a range of small businesses, such as Von Landsberg-Sadie’s BCB Group, which provides transaction and payment banking services to the crypto industry. All of them are growing exponentially; all say they are hiring.

“When I joined this company 2.5 years ago, there were 35 people”, explains Cameron Dickie, EMEA sales manager at crypto broker B2C2. “We are now at 120, and this growth path will continue.” Coinbase hired 600 people in the last quarter. Small businesses like CrypPro and Capital dexterity are doubling in size. On its own, BCB wants to double or triple the size of its engineering team in the coming year. In 2021, crypto investment bank Galaxy Digital increased its workforce by 130% to 510 people.

The expansion of the “native crypto” space has not gone unnoticed by traditional financial players, some of whom noticed it a while ago, others pay little attention to it now. Thomas Uhm, in Jeanne Street ‘The Global Crypto Institutional Sales & Trading team, said they started building the crypto team at the e-commerce company four years ago. Bank of America did not initiate crypto research in October 2021.

As DeFi jobs explode, everyone wants candidates with existing DeFi experience and the first players in the space are finally seeing their career decisions justified. Jonathan Cheesman, former FX salesman at Barclays, Goldman Sachs and HSBC, said when he left TradFi for DeFi for the first time in 2018, he was forced to retrace his steps in order to “feed the family”. In May 2021, Cheesman joined the FTX crypto exchange to sell its services to institutions and act as “a bridge between native to traditional finance and crypto.” The times have changed.

The catalyst for change has been the pandemic, Cheesman said – and most notably the “extreme politics” and “wartime” response of governments to the pandemic. “It really lit the fuse,” he said. “Satoshi wrote on white paper – he developed bitcoin because he believed that the monetary response to the financial crisis was so important that banks would never be able to withdraw the monetary response they provided. Satoshi predicted that another round of stimulus was inevitable in the next crisis. This crisis as a whole, Cheesman said. It was then that “the institutional beneficiaries finally said yes”.

As institutional money moves through the crypto space, the native expectation of crypto is that the volatility of established tokens like bitcoin, ether, or SQL will decrease, creating a virtuous circle in which the involvement of institutions in decentralized finance will only increase. “Over the next two to three years, banks will completely change their stance on crypto, and that will cause a huge shift,” predicted David Olsson, Global Head of Institutional Distribution at BlockFi and Former Trader at Caxton and Merrill Lynch. At the moment, the DeFi system is both fragmented and relatively illiquid, Olsson said, but the more institutions get involved, the more volatility will be mitigated and anomalies in the market will disappear.. Boris Bohrer-Bilowitzki, Director of Revenue at Copper, which also provides top-notch custody and brokerage services for digital assets (there are a few), compared the current state of market developments from cryptography to the stock markets of the early years of the last century. – Most of the investors were individuals, but then the institutional money came in.

If the forecasts are correct, the demand for decentralized financial expertise is about to explode. Specialty market makers and accessory traders are already saying they are already forced to offer great packages to attract people. – Dexterity said he pays like Jane Street, and Jane Street is known to pay even its most junior traders $ 400,000 + all inclusive. Galaxy Digital’s 510 employees shared $ 182 million this year, an average of $ 357,000 each.

It’s hard to hire in crypto, but there is no shortage of potential candidates. It’s the people with prior cryptography experience and exceptional math and coding skills that are the real problem. The ideal recruits often already sit at rival crypto firms, making roles difficult to fill and bidding wars are common. But for now, it is still possible to move away from traditional finance. Dickie at B2BC says he gets a steady stream of five to ten resumes a week from traders and salespeople in banks who want to take the plunge, and he’s ready to hire them. “Jobs in crypto sales will only grow,” he predicts. “It is still a cottage industry compared to traditional finance, but the talent drain is only going one way.”

Contact: sbutcher@efinancialcareers.com first. Whatsapp / Signal / Telegram also available (Telegram: @SarahButcher)

Please indulge us if you leave a comment at the bottom of this article: all of our comments are human-moderated. Sometimes these humans may be asleep or away from their desks, which may take some time for your comment to appear. Ultimately, it will – unless it’s offensive or defamatory (in which case it won’t.)

photo by remark thank you to Unsplash

[ad_2]

]]>
Finance companies need to strengthen the financial literacy of their clients https://savewesternoh.org/finance-companies-need-to-strengthen-the-financial-literacy-of-their-clients/ Wed, 17 Nov 2021 05:00:39 +0000 https://savewesternoh.org/finance-companies-need-to-strengthen-the-financial-literacy-of-their-clients/ [ad_1] Financial illiteracy is by no means a new problem. But the Covid-19 pandemic has exacerbated and exposed vulnerabilities and inequalities within our society, including the large gap between those who know how to manage their finances and those who struggle to do so. If no collective action is taken by the public and private […]]]>


[ad_1]

Financial illiteracy is by no means a new problem. But the Covid-19 pandemic has exacerbated and exposed vulnerabilities and inequalities within our society, including the large gap between those who know how to manage their finances and those who struggle to do so.

If no collective action is taken by the public and private sectors to bridge these gaps, we will see even more widespread systemic inequalities in Britain and elsewhere.

The pandemic has revealed a harsh truth to many; that access to financial education and the security it offers around the world has been precarious for many years.

In February 2020 – before the pandemic took hold in the UK – the country’s Financial Conduct Authority found that 57% of adults polled in a survey felt nervous, overwhelmed or stressed when talking to financial service providers, or struggled to find appropriate funding. products or services. Some 37 percent found it difficult to rate financial products or found it difficult to shop.

June Felix, Global Managing Director, IG Group: “People need the right tools to be able to understand the opportunities and risks to manage their money and make their money work for them”

Several factors have contributed to this disturbing trend. They include the upheavals in the financing of pensions, following the switch from defined benefit (DB) pension plans to defined contribution (DC) plans.

These are made worse by changes in spending habits, as people move away from cash in favor of short and long term credit products. Meanwhile, the number of savings and investment choices continues to increase, with options ranging from the simplest to the most complex.

Simply put, as the individual’s demands for making critical financial decisions have increased (and show no signs of stopping), supportive financial education to inform that decision-making has not followed suit. rhythm.

As a leader in the financial services industry, I have seen these changes occur as the global financial environment transforms at breakneck speed, underpinned by the rapid acceleration in the use of technology.

For millennials and millennials, retirement will seem like a distant prospect, but the truth is, many are unprepared for it. Planning for retirement has completely shifted from the responsibility of employers and governments to that of the individual.

According to the Pensions Policy Institute, a leading retirement research organization, DB plan closures have resulted in a decrease in the number of private sector employees covered by DB plans. The number of active members covered by defined benefit plans increased from 3.5 million in 2006 to around 1 million in 2020.

Closing these DB plans in favor of defined contribution plans places the responsibility for long-term investment planning on those who are not currently prepared to manage these long-tail risks.

FT campaign on financial literacy and inclusion

The FT invites readers to join the FT FLIC campaign to promote financial literacy in the UK and globally

As the way we work evolves, people are increasingly exposed to ‘lack of retirement savings opportunities’, with jobs in the odd-job economy and zero-hour contracts generally not offering. no retirement benefits. Likewise, most people now change jobs several times in their lifetime – a trend that does not create natural opportunities to save regularly for retirement.

As the responsibility for retirement planning has shifted largely to individuals, a prolonged environment of low interest rates has simultaneously eroded people’s savings. This prompted them to take a more active look at their finances as a whole.

While investors today have more choices than ever before, driven largely by globalization and technological advancements, people need the right tools to be able to understand the opportunities and risks to manage their money and put their money to work. money for them.

Private and public sector organizations must act.

The Chinese have an old saying for the crisis: be aware of the danger but recognize the opportunity. As I contemplate the world we live in today, this truth makes sense to me when I consider my education and the responsibility I have as a leader in financial services. Although statistics show the lack of widespread financial literacy, there is an excellent opportunity for the public and private sectors to help raise levels of collective financial literacy.

Support for improving financial literacy requires a dual approach. First, companies that offer financial products must also provide transparent educational materials to help clients make more informed financial decisions.

The journey to competent financial literacy should be presented as an essential element of customer service and embedded in the culture of the company. Whatever products or services are offered, companies need to think about how those offers will be received in the market and who will use them.

FT Cop

Financial literacy education provides young people with the foundation for future prosperity and can help economically disadvantaged people escape poverty. Join the FT Flic campaign to promote financial literacy in the UK and globally

Donate to the Financial Literacy and Inclusion Campaign Here

In addition, organizations must integrate financial literacy into their ESG (environment, social and governance) strategy. Resources should be allocated to independent programs that support financial literacy at all stages of life, from youth to adulthood.

My passion for education, influenced by my childhood as a Chinese American, was a catalyst for me to personally become a founding donor of the Financial Times Financial Literacy Inclusion Campaign.

Working at a publicly traded company, my colleagues and I discussed how to evolve our ESG strategy to address social issues, with the aim of increasing resources for independent and education-focused programs.

As an example, IG Group has an existing partnership with Teach For All, an international non-profit organization that seeks to improve grassroots education. Here in the UK, we also partner with Teach First, providing the organization with funds and access to our people and their knowledge of the financial markets. These programs are just the start, as we evolve to directly support more financial literacy programs in the months to come.

At the same time, we have created a variety of online educational resources for our clientele ranging from technical education to macro market analysis for people at different stages of their investing knowledge.

We also take steps to ensure they have a level of understanding of financial products before using the more sophisticated products on our platform. It should be recognized that some products carry more risk than others. The crucial issue is to ensure that potential investors are properly informed before they begin their foray into online trading.

We recognize the need to be collaborative. The private sector must work together and strengthen the efforts of public sector organizations to advance financial literacy.

Not all products on the market will suit everyone. However, enabling people to make choices based on a solid foundation of education will make a huge difference in improving the overall financial health, not only of individuals but of society as a whole.

Technological innovation and the investment landscape will continue to evolve at a rapid pace. Giving people the knowledge they need to take advantage of these changes has the potential to be transformational.

June Felix is ​​Global Managing Director of the IG Group

[ad_2]

]]>