Investment operations

Job roles: Investment operations administrator, Investment operations technician, Investment operations specialist

Millions of investment transactions are conducted within the UK financial services sector every day on behalf of institutional and retail clients, ranging from private individuals and small businesses to unit trusts, pension funds, charities, corporations and governments within the UK and overseas. Investment operations professionals are needed to work within the operational and administrative areas of businesses in the financial services sector that engage in investment management, investment consulting, trading and reporting activities.

Apprenticeships are available for three different roles within investment operations. These roles will sit within the operations areas of stockbrokers, investment managers, banks, financial advice and wealth management firms, and investment consulting and investment administration businesses.

Investment operations administrator – Level 2 (Intermediate)

A fully competent employee at this level will be capable of performing routine, non-complex tasks. Typical activities could include: reconciliation of investment records; data entry; investigating missing or inaccurate data; compliance and money laundering checks; researching information towards investigative activities and projects; and processing correspondence

This apprenticeship is an entry-level role for individuals with no prior work or industry experience. It is focused on acquiring an appropriate work ethic and fundamental skills and understandings to enable performance of tasks that carry minimal financial or operational risk exposure. Completion of this apprenticeship, will form the foundation of a career in the sector, including progression to the Level 3 apprenticeship where the qualifications available can lead to professional body membership.

The full apprenticeship standard is available at:
www.gov.uk/government/publications/apprenticeship...

Investment operations technician – Level 3 (Advanced)

The majority of work at this level would be non-complex but requires high standards of accuracy, proficiency and responsibility. Typical activities that may be carried out by a fully competent employee include: investment transaction matching, confirmation and settlement; portfolio valuation; portfolio cash reconciliation and management; corporate actions processing; preparation of internal and client investment reports; and processing significant changes to portfolios as instructed by clients or their authorised agents.

The apprenticeship will typically take 18–24 months to complete, but could be closer to 12 months if the employee has already completed the Level 2 apprenticeship. Apprentices will complete the Chartered Institute of Securities and Investment (CISI) – Investment Operations Certificate qualification.

The full apprenticeship standard is available at:
www.gov.uk/government/publications/apprenticeship...

Investment operations specialist – Level 4 (Higher Apprenticeship)

The complex financial instruments and products used for investment transactions require specialist skills to ensure that they are efficiently processed, registered, reported and valued within an organisation.

A competent investment operations specialist will be capable of performing complex and specialised activities, be fluent in the systems and processes of the organisation, will be aware of the wider risk implications of their role and the business, and may have training or supervisory responsibilities within their area of expertise.

Typical activities include:processing and settlement of derivatives or complex investments; calculation and management of initial and ongoing margin for derivatives positions; valuation of complex investment portfolios; preparation of investment performance reports for clients and investment managers; preparation of management reports for internal review; selection of investment funds for platforms accessed by retail customers, based on pre-defined criteria; and resolving complex issues within and across departments.

The apprenticeship typically take 18–24 months to complete. Apprentices will complete an appropriate qualification/examination from one of the industry’s professional bodies, as considered most relevant by their employer

The full apprenticeship standard is available at:
www.gov.uk/government/publications/apprenticeship...

For further information, please contact:

Chartered Institute of Securities and Investment – www.cisi.org

CFA Institute/CFA UK – www.cfauk.org

Qualification: Level 2 (Int), Level 3 (Adv), Level 4 (Higher)

Salary: salaries vary but a typical Level 4 apprentice working outside London could earn £13,000 plus benefits

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