Positivity and Interview Success

By Martin Finch 

Martin is an experienced accountant with expertise in reporting in  UK GAAP and IFRS. Martin also has significant systems experience having implemented SAP at his current employer.   Prior to his current role he worked in public practice on a varied portfolio of clients ranging from PLCs to not for profit and charitable organisations.

To succeed at your next interview, it's essential that you learn from the experience of previous interviews but don’t dwell too much on the disappointment.  If you focus too much on your failure, the next time you're back in the pressure situation of an interview, it'll be all too easy to remember what went wrong last time. If you worry about something going wrong, the negative thought process will increase the probability of something actually going wrong. This leads to perpetuation and reinforcement of negative beliefs.  In order to be successful you need a positive belief system, which means fostering a positive outlook.

If you are someone who gets rather nervous at interviews, practice and preparation are key to ensuring that you are fluent and clear under pressure. However, just as important as practice and preparation is the process of expelling negative thoughts and maintaining a positive attitude.  In the days prior to the interview you should visualise yourself performing well at the interview and getting the job. 

My advice for interview success is:

• Prepare including researching company and role
• Use Linked In to find out more about your interviewers
• Stay positive, eliminate negative thoughts
• Visualise yourself being successful
• Control your breathing to stay calm and focussed

If you follow this advice, then you will increase the probability of interview success and getting the job you wanted.

Have you had a job interview recently or got one coming up?  Did you follow these tips and find they helped you succeed at your interview? We'd like to know. 

To find a new accountancy opportunity click here

 

To read more interview advice click here or read....

Acing an Accountancy Interview 

Interview tips to help get your foot on the ladder

Interview preparation tips from Alexander LLoyd

Access MBA creates window of opportunity for executives in London

The Access MBA Tour returns to London as Top International Business Schools Seek MBA Candidates in London…

....and you’re invited.

All you need to is register.

Venue: Le Meridien Piccadilly

Date: Wednesday 28^th March 2012

Time: 4:00pm – 6:30pm

 

The Access MBA Tour is an opportunity for experienced executives to meet top international business schools. Securing a place at a highly-ranked MBA program can be difficult but meeting the right business school will take you one step closer to the top.

As the demand for qualified and capable managers continues to rise, an MBA degree has become a recession-proof qualification for today's business executives. 

Access MBA Tour Brings Together Top International Business Schools and Qualified Candidates

Access MBA will be organising face-to-face meetings between experienced professionals and top global business schools (click here to view  top business school rankings). Participating schools include: HEC Paris, ESADE, Manchester Business School, SDA Bocconi, Vlerick Leuven Gent, IMD, IESE, Cass, London Business School, INSEAD, Hult International Business School, IE Business School, University of Chicago Booth, Duke, Kellogg WHU, RSM – Erasmus University.

To attend One-to-One meetings, Candidates must register here. Candidates will then be matched with schools that best meet their requirements, and invited for one-to-one meetings with the schools’ Admissions representatives at the event.

Access MBA consultants will also be available for one-to-one advice sessions with interested MBA candidates.  

There will be over 100 accredited and internationally ranked business schools participating and each of them will make a detailed presentation of their programmes to help candidatest identify which one supports their personal development goals best . This event is ideal for high-profile executives with 3 + years of professional experience and a higher education degree. 

How Business Schools are turning the tide to 'Possibilities'

There is a greater empahsis today, on the need for a thorough understanding of the forces in motion by business leaders and executives, many of whom turn to scholars and colleagues in top ranked business schools. Some identify new business opportunities and apply for an MBA degree to gain the specific knowledge required. Others aim to diversify their professional profile and gain a competitive advantage.

International MBA programs ensure that business executives understand the evolving global market and can adequately and sustainably lead their organizations towards long-term prosperity. Research shows that an MBA degree guarantees graduates a higher starting salary and greater opportunities to advance their careers.  

“74 percent of companies polled plan to hire MBAs in 2012, compared with just 57 percent of companies that had planned to hire MBAs in 2011” - GMAC 

About Access MBA

Christophe Coutat is Founder and CEO of Advent Group.

Founded in 2004, AdventGroup is a Paris-based media agency that coordinates educational and recruiting events throughout Europe, the Middle East, Asia and the Americas.The Tour holds 55 MBA events annually in over 40 cities worldwide.Access MBA is a project of Advent Group, More information can be found at www.accessmba.com.

Tips for newly qualified ACA’s

By Daniel Handley

Daniel Handley is a consultant within Handle Recruitment's finance division recruiting into the Music, Media, Entertainment and Lifestyle Brands sectors. He has 8 years Financial Recruitment experience, 5 spent managing a qualified & interim desk and now recruiting permanent positions to CFO level.

When it comes to making the daunting move out of practice into industry, your post-qualified accountancy career can take any number of paths. However getting the right first step is immensely important.  

The initial step into the industry can shape your post-qualified career, therefore I would always advise on keeping breadth in your role until you work out where your career is heading.  ACA’s are, on the whole technically competent but still require on-the-job experience in management accounting, budgeting, forecasting and planning. Obtaining this exposure whilst keeping the technical aspects until you know exactly where you are heading will ensure you don’t miss out on opportunities due to a lack of experience in a specific area.  

There’s No Such Thing as a Candidate ...

 ... In the modern world of hiring, everyone’s a customer!  

By Paul Strong, Associate Director

Paul Strong is an associate director with Robert Half UK, the world’s first and largest specialised recruitment agency and member of the S&P 500. For six years Paul has connected highly-skilled accounting and finance professionals with leading London organisations.  

Despite what you may have heard, it’s still critical for employers to make a good impression on job candidates. Even with general unemployment levels high, competition is intense for professionals with in-demand specialised experience.

But no matter how sought-after a candidate is, companies should treat him or her courteously. In an online world, it’s a simple matter for applicants who have an unpleasant experience contacting or interviewing with your company to post negative comments about your organisation.

Writing an Effective Accountancy CV

By John Richardson

John Richardson is a Senior Manager at Alexander Lloyd. He joined the company in 2003 and currently leads the Accountancy & Finance divisions. He specialises in recruitment of qualified level Financial Directors and Controllers for both blue chip and SME clients, and also recruits niche roles such as tax/treasury and corporate finance and audit. 

A CV is a document that has one purpose and one purpose only – to sell you, the job seeker. This is your sales tool designed to demonstrate to potential employers that you are the ideal candidate for the job; it is your professional identity on paper.  Considering how important it is to get it right, the wide and not always wonderful selection of CV’s that reach the desks of Alexander Lloyd's specialist Accountancy division on a daily basis, is astonishing. 

A CV should have a simple layout that incorporates small variations. The core, is a clear and concise structure that includes personal details, personal profile, qualifications, professional experience and achievements, and general skills. 

Personal Details

Keep this simple.  All you require here is your name, address and contact details. Ensure that these details are up to date and checked regularly. If you have a LinkedIn profile, add your profile address to this section.  It is not advisable to include any equal opportunities information such as your date of birth, marital status or nationality.

Personal Profile

This is your first chance to make a good impression on a potential employer, to make yourself stand out from the crowd and really grab their attention. Include succinct details about your key skills, experience, achievements and strengths.  For example:

“A highly skilled ACA qualified Finance Business Partner with five years experience in a blue chip engineering company.  Well developed inter-personal and project management skills have contributed to success acting as both data analysis and financial modelling expert to several project teams, whilst maintaining responsibility of day to day financial management for an £85m programme.” 

Newly Qualified ACA - What Next?

By Adam Parsons

Adam Parsons is the Head of Alexander Lloyd’s Professional Practice division, specialising in recruitment of senior accountancy and finance professionals, from Trainee, to Partner and Director level, within the Public Practice sector across Sussex, Surrey, Kent and London..

Adam Parsons, head of Alexander Lloyd's Professional Practice division considers the decisions facing those who receive their ACA results tomorrow....

The ACA results are published tomorrow, and for those of you who will be achieving fully qualified status, this is a unique point in your career. Decisions made now will have far ranging impacts on the road that is ultimately travelled.

Career Advice
Around this time of year I have a number of newly qualified (or soon to be) accountants asking for career advice. This has led me to sit down and put pen to paper (or fingers to keyboard rather) and relay the advice that my colleagues and I are dispensing on a daily basis.

The most obvious choice presented to you as a newly qualified accountant is to remain in practice or venture into the world of industry.  This is a really fundamental career choice - once the move is made it is very rare, and quite difficult, to make the transition back to practice.  I highly recommend that you think strategically about the long-term career path you want to follow, in order to achieve your goals at each stage.

Working in Practice
Staying in practice for some is the obvious choice.  Many will be fortunate enough to secure a new contract with their current employer and be excitedly contemplating their next step to Managerial level. However, what about those of you who are not able to secure a new contract, or those of you who simply want a new challenge within the practice environment? 

I would recommend the first step is to consider whether you want to specialise at this point in time, or would rather have a wider remit.  Secondly, take a look at the competition and decide whether you are looking for the challenge of moving to a higher-ranking practice, or would rather a smaller more intimate environment.  Whilst a challenging option, moving up will provide you with greater scope for progression and the possibility of working in new disciplines and specialising further along your career path. 

Competition for the top tier can be fierce, and I do recommend that you consider the location in which you are willing to work.  Don’t automatically discount those regions outside of London. Offices in these areas are often looking for new recruits, whereas those in London are usually inundated with applicants.  You will increase your options quite considerably by doing so, and whilst the financial package is not necessarily as high, you get a foot through the door providing greater opportunities in the future.

Working in Industry
For many though, the lure of industry calls.  Providing first hand commercial experience, Accountancy within industry is a very different ball game. The key piece of advice that I give to job seekers wanting to enter this domain is to be realistic in regards to your immediate expectations.  It is not always going to be possible to walk straight into a commercially driven strategic role - many companies will require you to have more experience within industry first.  It would pay to employ a strategic approach and consider where you want to get to in the next few years and plan the best route to get there. 

Whilst being pragmatic about your immediate options, it also pays to be realistic about your financial expectations.  Once qualified, a move into industry will not always result in a significant pay increase in the short term.  The remuneration packages in practice are on average slightly higher than their industry equivalent within the South East.  However you will have opportunities to be closely involved with the performance and direction of the company where you can see the results and impact that you, as an Accounting professional, are able to bring about.

Review your CV
Once you have considered in which direction you want to drive your career, the very next thing I recommend is to review your CV.  It is really worth taking the time to get some advice and prepare a CV that fully showcases your skills and experience.   A reputable agency, that has good relationships with a wide range of companies, will be able to assist you with this and also have opportunities worth discussing.

Moving into industry or staying in practice wholly depends upon the individual, and there is demand for job seekers in both.  If you were to take one thing away with you, I would say it is to apply a strategic approach to which career path best suits you in the long term, and good luck.

 

 

To Accept or Not to Accept: The Question of Counter Offers

The rejuvenation of the job market in the Finance and Accountancy sector has without doubt gathered pace in the last six to eight months.  One of the results has been an increase in job seekers willing to explore their options whereas before, many people were staying in positions in which they felt dissatisfied due to fears about the turbulent economic climate.

So, as an employee you have taken the plunge, explored your options, gone through the interview process and been offered an exciting new role.  This is always a slightly nerve wracking time and many understandably feel the process of resigning from their current position to be a stressful one.

Submitting Your Resignation
When you sit down with your line manager and submit your letter of resignation, there is a sense of relief and the excitement of starting a new role can be indulged.  However, what happens if the following day your employer presents you with a counter offer?  What do you do?

This is a difficult situation in which to find yourself.  On the surface, it appears to be in the employer’s interests to retain you; you are a valued employee.  They are able to retain you within the business rather than have to progress once again through the recruitment process, which can be time consuming.  You are in situ; you know the company and are an established member of the team whom they have already invested in.

It can be a tempting and very flattering offer.  You are within your comfort zone; you know the business and the people, and a pay rise is being offered.  At this stage, it is vitally important that you examine your reasons for leaving in the first place.  If your motivation is more than simply remuneration and is based around a desire for career progression, or a disillusionment with the company, ask yourself the question; is this going to change or, by accepting an offer, are you simply placing a band aid on the real issue?

A Long Term Solution?
Being counter offered with a pay rise or a promotion will not necessarily resolve the underlying reasons that first motivated you to search for an alternative.  In this instance we find that in many cases the employee will be once again be back on the job market within a few months, as the initial problem has not been resolved. In my own personal experience, I previously worked with a Management Accountant in a senior position who was very disillusioned with their working environment.  We secured them a new position with a pay increase, and when they subsequently submitted their resignation, their employer offered to double the pay increase to keep them.  They accepted the counter offer, however came back to me within five months looking for a new role, as the environment had not improved and the initial problem remained.

On the other hand, if your reason for leaving is purely motivated by remuneration and you feel that you are being undervalued either through the employer’s inability to offer an increase, or through a failure to recognise your worth, is it a good idea to accept a counter offer?  On the whole I would still suggest that it isn’t.  Using this process as means of forcing your employer’s hand should be avoided.  It almost always causes a breakdown in trust and leads the employer to question your loyalty and dedication to the company.  If they believe that you are capable of being disloyal it is doubtful that the previous levels of trust will ever be re-established, which can have implications for your long-term career in that company.

Communication is Key
If you do feel that a pay increase or promotion is justified I always recommend that you firstly have an open and honest conversation with your employer, laying out your justifications.  Through open channels of communication it is much more likely you will be able to come to mutually agreeable terms that have fewer potential repercussions later in your career.  If the employer is not able (and in the current economic climate many are not, through no fault of their own) or willing to negotiate in terms of remuneration then if you still wish to pursue the issue, consider your wider options and explore the market with a clear conscience.

John Richardson joined Alexander Lloyd in 2003, and as a Senior Manager within the organisation he currently leads the Accountancy and Finance divisions. He personally maintains a client database recruiting senior finance professionals on a permanent basis within the Accountancy and Finance sector and specialises with the recruitment of qualified level Financial Directors and Controllers for both blue chip and SME clients, and also recruits niche roles such as tax/treasury and corporate finance and audit.

The Next Generation of Managers

With university fees on the increase, many young people are looking at alternative routes into their chosen careers. Should employers now be looking to school leavers instead of graduates for their next generation of managers?

University is no longer a financially viable option for most young people and it’s fair to say that it hasn’t been a guaranteed route into the majority of graduates’ chosen careers for some time. Recent research commissioned by the AAT and the CEBR revealed that an estimated 55% of this year’s university leavers will graduate into unemployment or unskilled roles.

While many young people might feel a door has been closed to them with university fees being hiked up, it’s actually a really exciting time for ambitious school leavers and businesses alike. We are currently noticing a big trend with employers recruiting school leavers over graduates through apprenticeship schemes. Proctor & Gamble for instance have adopted this approach, solely recruiting school leavers for their European Finance Centre, with lots of other companies of varying size and scale following suit.

Why? Firstly, school leavers tend to have a strong idea about the career they want and therefore are determined to work hard to achieve their career goals rather than it just being something they ‘fell into’. School leavers on apprenticeship schemes have a strong sense of pride and willingness to learn. They don’t come with huge expectations and are aware how lucky they are to be earning, training and working at the same time. They also tend to have a good work ethic and are used to a school routine – this lends itself well to the office environment.

School leavers also have a strong sense of loyalty to their employer and apprentice scheme. They invest in the business and the business invests in them. This sense of worth instils confidence in the school leaver and as they climb the career ladder they inevitably add more value to the business. School leavers are not just stop-gapping before something better comes along.

Not only can apprenticeship schemes be more cost effective, but all businesses across all sectors must appreciate the benefits of cherry picking highly motivated young people.

While of course I understand that there will always be some professions which will always need graduates of a certain calibre, I do think there are still many businesses nationwide that haven’t considered hiring anyone other that a graduate and it’s these employers who should think again. 

I’m excited by our apprenticeship programme and the new school leavers joining us this autumn. They have the right foundations that our business needs. If they work hard, maintain a positive attitude and are supported properly, then they will go far. In this fragile economy all employers should wise up and see the potential of a school leaver, knowing what a sound and solid investment they can truly be.



Jane Scott Paul has been Chief Executive of the AAT since 1997. Under Jane’s leadership, the AAT has grown to an overall membership of 120,000 with an influential voice in the education, training, development and support of accounting technicians worldwide. She was awarded Honorary Membership of the Chartered Institute of Public Finance and Accountancy (CIPFA) in 2003 and the OBE in 2008 for services to the accountancy profession.

Top Tips for Tough Times: How to Survive a Company in Administration

Habitat, Oddbins and Focus DIY are just three retailers who appointed administrators in 2011. According to research by Deloitte, the accounting firm, the number of retail companies falling into administration in the second quarter of 2011 increased by 8% to 43 compared with 40 in the same period last year. And so, in these tough economic times, many finance professionals will find themselves unexpectedly working for a company in financial difficulty. 

This is sometimes known as working in a ‘distressed environment’ and with good reason: it can be a challenging platform from which to operate. But there are various ways to ensure you keep smiling and come out on top. 

Accept the things you cannot change

When a company is in administration, business matters are out of the control of the directors and board. The administrators are running the show and will be making day-to-day decisions about creditors, payments, banking, risk and invoicing: all matters traditionally under the control of the finance department. Understandably, this can be disorientating and difficult for anyone whose remit has previously covered any of these areas. Fighting the administrators won’t help; they’re appointed to do a job and they’d like your cooperation but can do what they like without it.

Anyone familiar with Elizabeth Kubler-Ross’s ‘Change Curve’ will know that the reaction to change traditionally starts with denial and is followed by anger, bargaining and depression. The curve ends with acceptance of the change. In an administration situation the earlier the finance department moves to acceptance the easier life becomes for everybody concerned. Once the administrators have been appointed, acceptance and cooperation are your friends. The only things you can change are your reaction to the situation and your own behaviour.

Stay professional 

Once a company is in administration almost anything could happen: the business, or part of it, could be sold (and you with it); you may want a reference from someone you currently work for; the company could close altogether. But if you stay in the same field you will continue to bump into the same people, professionally, for many years to come. So keep your cool and remain professional at all times – it can only enhance your reputation. And in business, matters are never made worse by good manners and a positive attitude but these are often noticed and rewarded. The company shouldn’t expect you to lie to customers or suppliers so maintaining your integrity is important too but any particularly difficult matters can usually be referred to the administrators.
 
Keep your cool

This is similar to staying professional but with a slight difference: it’s about recognising why your co-workers, who have hitherto been cooperative and maybe, even, your mates, have suddenly turned into  psycho colleagues from hell. Life can be difficult working for a company in administration and everyone from the Chief Executive down will be feeling the strain. And stress, uncertainty and extreme anxiety can change people’s behaviour. Not yours, of course, because you will stay professional but if you recognise that your colleagues may not be themselves and make minor allowances accordingly you’ll be making your life (and theirs) a lot easier. That’s not to say that the unacceptable is suddenly to be tolerated, because it isn’t, but if someone is behaving in an uncharacteristically difficult way it might be worth temporarily cutting them some slack. This doesn’t only apply to colleagues – suppliers and customers may also be edgy and uncharacteristically badly behaved as they try to protect their own interests. You don’t have to be a doormat but keeping calm and carrying on is the right thing to do. And the view is better from the moral high ground.

We are where we are

In an administration situation some workers will already have left the company, some will have been made redundant – and given little incentive to hand over  before they leave – and others will still be employed but perhaps without leadership or without the knowledge they need to carry out their roles. This can sometimes mean that nobody understands a process or procedure end to end, due to lost knowledge, poor paperwork or newly-unsupported computer systems. You could spend months trying to track down the original source of knowledge – good luck with that – but sometimes it’s quicker to create a new process than establish how the old one worked. And there could be a silver lining because this can throw up improvement opportunities, which any business should make the most of as they arise. And of course, if everything is documented when you move on or are promoted, the colleagues you leave behind won’t be left in the same situation.

It’s tough working in any position in a company going through administration or in financial difficulty – whether you’re the CFO or the office cleaner, uncertainty is always hard to deal with.

But you can make the best of it by behaving well, giving your best, and remaining calm and professional. Who knows? Once the administrators have moved on there could be a job for you in a restructured company, a recommendation from someone who liked your business-like style or a new opportunity via an ex colleague. And, like a phoenix from the ashes, your career stock could rise too.



Louise Graham spent five years working for The Walt Disney Company before taking a break to have her two children. Since then she has worked on an interim basis for Abbey National, First Choice, The Carphone Warehouse and Fountains, who were previously part of Connaught plc (in administration). Fountains separated from Connaught plc and moved into independent ownership in 2011.

How Will the Basel III Accord Affect the Banks?

On September 12th 2010, the Basel Committee endorsed the next piece of their master plan. Having originally released details on July 26th 2010, the Basel III Accord was revealed and aspired to once again make the banking system safer by putting measures in place to avoid a repeat of the “worst recession in over 100 years” (Ed Balls, Shadow Chancellor).

The Basel II Accord was originally introduced in June 2004 to ensure that savers’ money was protected and that banks had a bit of a cushion to absorb unexpected shortfall from the potential inability to repay loans. Basel III was constructed using the same three-pillared framework, but was developed following the credit crunch. It strengthens the bank’s capital requirements and introduces new regulatory requirements on liquidity.

Basel III looks to define new capital target ratios, or the amount of ‘ready’ capital a bank must have. Other changes include the increase in transparency, quality and consistency of the capital base. The new regulation states that banks must have available capital equivalent to 4.5% of assets. There is an additional requirement of 2.5% which is in place to withstand future stress.

The second major change from Basel II is the additional strengthening of the capital framework’s risk coverage. This includes strengthening the capital requirements for counterparty credit exposures, by raising the capital buffers to allow for these exposures. All the changes are in a bid by the committee to encourage the banks to raise their own capital buffer in times of a good economy, so they can be called upon in more troubled times.

Following the crisis of 2009, the banks are now working much closer with the regulators to ensure that it is not repeated. But, in reality, how will the banks and their recruitment processes be affected by the introduction of the Basel III Accord?

The long-term benefits speak for themselves: an estimated net benefit for European banks of 30% of GDP, equivalent to 10 trillion Euros. This prediction by UK economists comes on the back of the sizeable buffers that the new Basel mandates all major banks have at their disposal.

Having said this, the short and medium-term problems cannot be ignored. While the big banks are no longer ‘able to fail’, the IT implications and integration costs and resources threaten to drive down the financial sector’s profits.
 
Although the capital requirements are being introduced gradually, the scale of the change that banks will have to go through cannot be underestimated. Barclays are in the process of raising £3.3bn in order to cover the costs of Basel III – some of which will be used to cover the capital requirements, but a large amount will be spent on retraining and recruiting qualified staff. 

The next piece in the Basel jigsaw will surely lead to increased hiring levels to accomodate the changes.


Oliver Gale is a Change Management Consultant for Marks Sattin.