A future in funds?

Guernsey’s funds sector is flying with billions of pounds under management in the island, so if you want to be strategic about your career in the finance industry, then the funds sector is a smart choice.

At the end of last year, the island had broken the £300bn barrier for the total value of the 856 funds under management here. The island has become a first port of call for investors who want to spread their risk with a broader selection of investment opportunities and lower fees.

Funds can come in nearly every combination of colour and style, but most investors want to choose a solid fund and then allow the experts to manage it for them. And that’s where you could come in, the market is strong with all indications pointing to future growth, so in terms of careers, this sector is hot.

Here at Firstcall Recruitment we have successfully placed hundreds of candidates into funds jobs, we know the industry and we are the authority on fund administration recruitment. All Guernsey funds are legally required to appoint a Guernsey based administrator, and this is a great starting position that promises plenty of variety in the day-to-day.

The main task of a fund administrator is to keep a record of the fund’s assets and expenses and draw up regular valuations and financial statements. Here’s a walk-through of some of the other key responsibilities:

  • Maintaining good client relationships
  • Assisting the fund manager and the fund team
  • Providing updated portfolio information to the fund’s valuer 
  • Checking the fund’s internal data to ensure accuracy
  • Supporting the transaction process, instructing third party advisors as part of the due diligence process
  • Corporate secretarial duties
  • Compliance duties
  • Keeping up statutory and other key records for all client entities
  • Completing the Guernsey Registry, GFSC and other similar annual and ad-hoc filings so that client entities remain in good standing.
  • Resolving and, if necessary, de-escalating issues and complaints in a timely manner in accordance with agreed procedures.

As always, personality, attitude and dedication are the candidate’s most important qualities, and ideal contenders will have strong communication skills and be comfortable liaising with a variety of different stakeholders. Other skills include good team working, basic IT knowledge, an eye for detail, an ability to work under pressure, an aptitude for numbers, and an excellent customer service ethic.

Candidates are expected to be efficient, with good organisational skills to juggle the various balls in the air. The role would particularly suit someone with a few years’ experience in the finance industry, especially someone who has worked in trust, pensions, property, banking, or finance administration. People from these sectors would have transferrable skills so they could switch without having to start all over again.

In terms of training there is plenty of on-the-job training and the Guernsey Institute runs accredited courses for those who want to fast-track their careers.

This sector has excellent salaries, clear career development paths, and dynamic workplaces where no day is the same.

Changing careers can be daunting, so it is liberating for candidates to realise that a refresh does not have to mean a drop in responsibility or salary.

See some of our latest fund roles here

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