Opportunities in the finance In partnership with Suffolk County Council, Business East Monthly is running a series of reports aimed at informing young people about the career opportunities that exist in the region and the skills required to make the most of these openings. This month we provide an overview of the finance and business sector featuring interviews with employers, employees and education experts.

Willis Towers Watson is a global multinational risk management, insurance brokerage and advisory company that operates in 140 countries and has a major office in Ipswich.

What is the current state of the finance sector in East Anglia?This is a growing sector locally with recognised locational centres and knowledge sectors, combined with improving communication infrastructure. We see individuals relocating into this area and, as there is a market here, it encourages further growth.

Our local universities are focusing more on sector-related degrees and recent surveys show Ipswich is the best place in the UK for SME businesses; Norwich is recognised as the best place to live and Cambridge is the best place for technology companies and highly qualified staff. All very encouraging to support growth within our locality.

What roles are you looking to fill?We continue to recruit into all areas of our business in roles that interact directly with clients and markets at all levels. Colleagues in our Ipswich location play a pivotal role in directly servicing our clients, as well as performing traditional broking activities.

Their activities are not just within the local area but also extend to London and the global markets.

We also have large teams based here providing human resources, IT and finance capabilities.

What specific skills are you looking for?We are a people-centred and relationship-focused business and therefore excellent interpersonal skills are absolutely essential. Equally important is a sound knowledge of all the component parts of insurance placement, structure and risk transfer mechanisms. Balance these with analytical ability, IT capability, digital agility, an enquiring mind, and a

willingness to learn… so quite a lot!

How do you recruit this talent? We have a mixed approach to recruitment, taking on school leavers and graduates alongside targeted recruitment of more experienced individuals.

We have invested heavily in growing our own talent over a number of years and work closely with our internal recruiters who support us with this. We also utilise specialist recruitment agencies to ensure we attract the right mix of talent so that our skill sets continue to meet the demands of our growing business.

What initiatives do you have in place?We recently recruited our first batch of apprentices in September, which has fed directly off the back of our previous successful school leavers initiatives. Our original target was 23, however our intake has increased to 39 due to increased business demand, which in itself shows the value placed on this.

Examples of the breadth of the scheme include HR, business analyst, sales degree, workplace pensions administrator, insurance professional, actuarial and electro-technical installation electrician apprenticeships.

We also have close relationships with our local universities with the relevant alumni within Willis Towers Watson assisting to attract talent into our Ipswich location. Their activities include attending careers fairs, holding insight days and arranging internships - all of which feed our recruitment pipeline.

■ Visit the Willis Towers Watson team at the Suffolk Skills Show at Trinity Park on October 18

Sector skills report: Finance and business

Q&A – SUE BARNES, DIRECTOR, UK RETAIL, WILLIS TOWERS WATSON

‘We are a people-centred business and excellent interpersonal skills are essential’

16 East Anglian Daily Times Tuesday, October 17, 2017BusinessEast Monthlywww.eadt.co.uk

Willis Towers Watson’s new apprentices. Picture: GREGG BROWN

East Anglian Daily Times Tuesday, October 17, 2017 17BusinessEastMonthlywww.eadt.co.uk

Ipswich Building Society employs 135 staff in nine branches across Suffolk with headquarters in Ipswich

What is the current state of the finance sector in East Anglia?With recent headlines and a Which? report about closing bank branches you’d be forgiven for thinking the East Anglian finance sector is declining. And, although there might be a reduced presence of financial services on the high streets, at the Ipswich Building Society we’re bucking the trend and investing in improved premises for two of our branch locations – Ipswich town centre and Woodbridge.

In general consumers are increasingly ethically aware and seeking out ‘locally sourced’ options, which we’ve also seen within our sector. Looking back to the 2007 financial crises, there is now more awareness of business practices and the trust factor

plays a big part in decision making.

Around half of our employees work within our branch network, staffing our nine locations within Suffolk. The remainder are based at our Ipswich head office, based on Ransomes Europark, and carry out all of our back office operations, from mortgage underwriting to HR.

What roles are you looking to fill and why?The majority of our job vacancies tend to be within our branch network, due to the number of staff we need to keep our nine branches running. We are often recruiting to fill Saturday vacancies, usually on an annual basis when our latest youth cohort go off to university.

What specific skills are you looking for in the long to medium term? Generally, we look for employees who have the right

attitudes and behaviours – we want our staff to demonstrate the Ipswich Building Society brand. They need to deliver great service, both to members and colleagues, and genuinely care about the communities in which we operate.

We also have more technical skills which we look for, such as industry experience and / or qualifications, depending on the role on offer.

How do you recruit this talent? We believe the utopia is a mix of beginners, intermediates and experts – a blend of employees who have experience and skills, but also fresh thinking and enthusiasm.

What initiatives do you have in place?We have appointed apprentices in many areas, both in branches and head office. At head office this has included roles in finance, marketing, support services and IT.

We have also offered

internships - this summer we hosted a student from the University of Suffolk Business School.

In addition, we work with local schools for work experience, career fairs and also under the Enterprise Adviser Network we have members of staff actively engaging with school leadership teams to increase opportunities for young people.

One area we do focus on is our well-established financial education programme for primary and secondary schools, which teaches vital life skills. We believe financial independence is one of the most important things to grasp from an early age.

■ Find out more about Ipswich Building Society at www.icanbea.org.uk

and business sectorQ&A - RICHARD NORRINGTON, CEO, IPSWICH BUILDING SOCIETY

‘Our employees need to genuinely care about the communities in which we operate...’

Richard Norrington, chief executive officer at Ipswich Building Society.

Darren Norman, 24, joined Ipswich Building Society over three years ago as an apprentice with the Support Services team. On completion of the apprenticeship he was offered a full time role within the team and has since been successful in his application for the position of trainee mortgage underwriter.

How did get your first job with Ipswich Building Society?Before joining Ipswich Building Society, I took A-levels at Suffolk One. I originally wanted to go to university but then decided I

would be better going into work.My first jobs were in retail, a

sector I worked in for a couple of years, but I had always wanted an office-based role and when I saw the Ipswich Building Society apprenticeship opportunity I applied and was lucky enough to be successful.

I joined Ipswich Building Society as an apprentice in April 2014. It was an apprenticeship in support services administration, which also gave me an NVQ

Level 2 in business and administration where I would

learn on the job and an assessor would come into see me from time to time.

It saw me working in a support services role which involved

a wide range of tasks such as looking after the building and the mailing and post area, and contacting suppliers for lighting and plumbing if there were any issues.

How has your career progressed?After completion of my

apprenticeship I stayed in a support services role for about a year, but I knew that at some point I would like to move into a more financial role.

I saw the position of trainee mortgage underwriter advertised internally and decided to apply. I had no knowledge of the mortgage business but I did a lot of research before the interview and ultimately was successful.

I was told later that I had given

a good interview. My manager said that the skills required for the job could be taught but what they were looking for was someone with enthusiasm and personality – and that I had sold myself in the interview.

I have been a trainee mortgage underwriter now for a year and half, and in that time I have learnt a lot of things.

I started off working in the administration and processing department and gained knowledge of the various stages of a mortgage application- where it starts and ends.

I’ve also learnt about lending policies and am studying towards a Certificate in Mortgage Advice and Practice (CeMaP), which is a comprehensive qualification that covers the regulation of financial

services and all aspects of mortgage practice

I’ve also recently obtained my underwriting mandate, which means I can approve a mortgage loan to a certain amount.

At the moment, I am just keen to hone my knowledge. It’s a very big industry and is likely to involve continuous learning throughout my career.

Any advice for young people looking to get in the finance sector?I would say that you don’t always have to go to university to secure a good job. There are opportunities out there but in many cases you have to be prepared to start from the bottom and have the drive and passion to get there.

The apprentice

‘They were looking for someone with enthusiasm and personality...’

‘Numeric agility is important but it’s not just about numbers...’

‘Internships and work experience placements are a great opportunity for individuals to gain experience...’

18 East Anglian Daily Times Tuesday, October 17, 2017BusinessEast Monthlywww.eadt.co.uk

Sector skills report: Finance and business

Nick Banks, business advisory partner at Scrutton Bland, a financial services firm working in tax, accounting, employee benefits and independent financial advice.

What is the current state of the finance sector in East Anglia?The finance sector is buoyant – we are experiencing strong demand for our services.

Despite Brexit there is confidence; existing clients are investing in their own businesses or seeking to acquire, as that is the best way to get a return on their capital. We are also seeing much more emphasis on workplace wellbeing. We have a well-established training programme which enables us to develop our people to bridge the skills gap but there is always a strong demand for experienced audit seniors and financial advisory para-planners.

What roles are you looking to fill and why? Scrutton Bland is currently recruiting for eleven roles across

our East Anglian offices, ranging from apprenticeships and trainee positions to technical management roles. All our departments have been expanding and our new office in Cambridge has also created additional opportunities.

What specific skills are you looking for?Numeric agility is obviously important when working for a financial services business, but it’s certainly not just about numbers - we need people with good interpersonal skills in order to build strong relationships with clients and colleagues.

Technology in the finance sector is fast paced, so being comfortable and knowledgeable with this is important.

How we interact with clients is changing so we need people who are up to speed with social media.

How do you recruit this talent? Do you take on school leavers, apprentices or experienced workers? What is the mix? At Scrutton Bland we always like

to recruit school leavers and offer apprenticeships each year with a summer start date, however we are also always looking out for technically experienced people which is an ongoing process.

We go out to job fairs and this year are inviting local schools to our Colchester offices to see first-hand what we do.

What initiatives do you have in place? We offer apprenticeships for accountancy and tax students as well as offering bespoke management training for those coming through to qualification. We also offer internships and placements for graduates. Our training programme enables us to develop our people to bridge the skills gap but there is strong demand for experienced audit seniors and financial advisory para-planners.

� Find out more about opportunities at Scrutton Bland at www.scruttonbland.co.uk/

Becky Ames, partner at Larking Gowen, a chartered accountant and business advisory firm operating across East Anglia .

What is the current state of the finance sector in East Anglia?We know that all firms of accountants are finding it increasingly difficult to recruit and retain skilled accountants. This spans business and personal accounting, audit and advisory and tax. The shortage of part and newly qualified accountants shows little sign of abating, and considerable demand from all sectors outstrips supply for accountants at this level. Skills shortages will continue to cause challenges, regardless of the economic conditions.

There is still a lot of uncertainty as it is hard it predict the impact of Brexit, but amid this uncertainty, the economy in East Anglia continues to thrive, and there are

considerable opportunities for forward-thinking, pro-active accountants.

What roles are you looking to fill and why?Larking Gowen regularly recruits for part and newly qualified accountants for business and personal accounting, audit and advisory and tax professionals, but it is becoming increasingly difficult to recruit for these specific roles. As a result, we are reviewing the number of work experience, internships and apprenticeship placements as we consider skills for the future, and develop our talent pipeline.

What specific skills are you looking for?The role of the professional accountant is fast evolving and is as much about identifying risk and opportunity, acting as trusted business advisors, as it is about delivering core finance functions. The way in which accountants

work is ever-changing due to the advent of new technological developments, including cloud-based technology, and increasing automation means that accountants need to expand their skills. We are looking for well-rounded candidates with diverse skills, who are business-

focused, with good problem solving skills and are excellent communicators.

How do you recruit this talent? When we have a vacancy, we

will require specific skills or experience so decisions around how to advertise and the target audience is decided on a case by case basis.

We also engage with schools, colleges and universities offering work experience, internships and apprenticeship

placements. Internship placements and

work experience placements are a great opportunity for individuals to gain some fantastic experience in the real-world environment.

We invest in our talent and provide full support to achieve professional qualifications, be that for an apprentice joining with minimal experience, to assisting experienced staff in gaining professional accreditations and certifications.

What initiatives do you have in place?We offer a variety of ways to experience what Larking Gowen is all about, from engaging with schools, colleges and universities, to work experience and internships. Every year Larking Gowen offer approximately 20 apprenticeships, 10 work experience placements and five internships across the firm. These initiatives are playing an increasingly important role in our talent strategy and will help us to ensure we have sufficiently skilled employees for the future.

� Follow Larking Gowen at wwww. www.icanbea.org.uk

East Anglian Daily Times Tuesday, October 17, 2017 19BusinessEastMonthlywww.eadt.co.uk

Finance sector – at a glance

*Figures (for 2015) from the Office of National Statistics (ONS) compiled by the New Anglia Local Enterprise Partnership as part of its development of a new Economic Strategy for Norfolk and Suffolk.

6.7 % of local economy

Gross Value Added of finance in Suffolk and Norfolk

£2.1bn

1,760Number of businesses in Suffolk and Norfolk

2.9 % of the local economy

Increase in jobs since 2010

600 2.1% change

17010.7% change

New businesses since 2010

Total jobs in Suffolk and Norfolk

29,2003.7% of the local economy

GVA per job

£73,300compared with average of £45,000

USEFUL WEBSITES

� www.suffolkskillsshow.com Details on the county’s leading skills event being held at Ipswich’s Trinity Park on October 18th.

� www.icanbea.org.uk Follow and learn about leading employers in the sector.

� www.newanglia.co.uk/ypmThe Youth Pledge Marque is awarded to businesses in Norfolk and Suffolk who are committed to supporting the future workforce.

� www.its-mygo.co.uk Mygo is a modern youth employment service for 16-24 year olds looking for employment, training or education in Ipswich and across Suffolk.

� www.newanglia.co.uk/new-anglia-enterprise-adviser-network Find out more about the benefits of becoming a New Anglia Enterprise Adviser - working with schools and colleges to help raise career ambitions and work prospects for young people.

Immersed in technologyAs technology continues to evolve we envisage that there will be less emphasis on ‘crunching the numbers’ and more on delivering advice and support to help our clients meet their financial goals and aspirations.

Finance professionals of the future will need to be immersed in the tech space, for example developing and linking apps to add value. By 2025 Scrutton Bland will likely need in-house software developers, and it’s also possible that legal services will integrate with financial, accounting and advisory firms. (Nick Banks, Scrutton Bland)

Adapt to market changesWe need to recruit individuals who adapt easily to market changes and can design products and solutions to meet the needs of a demanding population who expect an instant solution.

We need risk takers to challenge the status quo but all of that must be balanced with meeting the needs of the wider population. Midwives, builders and funeral directors together with those who manage emerging

risks continue to address life’s certainties. (Sue Barnes, Willis Towers Watson)

Approachable, knowledgeable staffWhilst internet banking and ‘robo advice’ may be the norm, one thing I am certain of is that there will always be a need for approachable, knowledgeable staff to give face to face reassurance and a helping hand. I also think branch offices will look and feel different – they’ll start to be less transactional. (Richard Norrington, Ipswich Building Society)

Soft skills are becoming more importantThe profession is being affected by new technology, regulation, greater globalisation and ever-increasing risk. To meet these challenges, accountants need to expand their skills.

Increasingly, ‘soft’ skills are becoming more important and we are looking for well-rounded candidates. The role will be much more about identifying risks and opportunities for clients, acting as their trusted business advisors, as well as delivering core finance functions. (Becky Ames, Larking Gowen).

What skills will the finance sector need in 2025?

Sector skills report: Finance and business

20 East Anglian Daily Times Tuesday, October 17, 2017BusinessEast Monthlywww.eadt.co.uk

The apprentice

Servest is a leading facilities man-agement company with headquar-ters near Bury St Edmunds

What roles are you looking to fill?Servest is a fast growing and acquisitive business with UK turno-ver now around thirty times higher than it was ten years ago. This provides fantastic opportunities for both apprentices and experienced finance professionals to join the team as well as providing develop-ment and promotion opportunities for the current team.

The most difficult roles to fill are analytical, business partnering roles – finance professionals who can interpret data and present it in a compelling and simple way to drive action and improve results, not just send out spreadsheets full of numbers.

What specific skills are you looking for?As Finance evolves – within Servest and the business as a whole – many traditional transactional finance roles will become even more automated through improve-ments in system processes and integration. Currently, more head count is focused on the more tradi-

tional transactional and manage-ment accounts processes, but in the medium to long-term there will be more finance roles in place to inter-pret and analyse data, providing true business partner support to the business.

How do you recruit talent? I see benefits from internal devel-opment and external recruitment.

This approach provides a healthy blend of internal promotions for individuals with good knowledge and experience of both the busi-ness and the industry, as well as giving fresh ideas and perspec-tives to the team from individuals joining Servest from non-related industries.

What initiatives do you have in place?Here at Servest the senior manage-ment has invested heavily in the

study package for trainees, with the clear intention of developing future finance leadership for the business.

We have seen numerous appren-tices successfully complete their apprenticeships and progress through AAT accounting studies, including working closely with West Suffolk College to give oppor-tunities to local students, highlight-ing our commitment to uncovering and developing local talent.

For CIMA (Chartered Institute of Management Accountants) and

ACCA (Association of Chartered Certified Accountants) we have a good track record for student passes, supporting on the job expe-rience and development alongside a professional qualification. Whilst we look to encourage and support study progression into AAT and through to CIMA or ACCA, there is of course a place within the team for individuals not wishing to study – attitude and enthusiasm are often as important as experience and qualifications.

Luke Broad, 23, works in the finance department of national facilities management com-pany Servest based near Bury St Edmunds. Luke joined as an apprentice in 2015 and since then has worked his way up to being an assistant accountant within the Security division.

How did you get a job in finance with Servest?Before I joined Servest in January 2015 I had gained a Level 3 National Diploma in business and finance at college. I had had a number of jobs but was looking for the right opportunity to get into finance.

When I saw that Servest was advertising an apprenticeship in business and finance, I went for it. It involved initially working as a bookkeeping clerk and meant taking a wage cut but it offered me a great route into the sector, to get into a big company, work from

the bottom up and get a full under-standing of the subject.

The apprenticeship involved on the job training and regular meet-ings with an assessor from WS Training. I had a year to complete it but finished it within six months because I was keen to get ahead and work hard and make the most

of the opportunity. As a result, I was offered a full-time role and a significant pay rise.

How has your career progressed?Servest is a large organisation with a number of different service lines.

When I initially joined the company I was working in the Catering division, but after a while working full-time, an opportu-nity came up to move across to Security.

They were putting together a new team for Security and, although there is always risk when you move jobs, I was attracted by the challenge.

As it has turned out, it has been a great move. I hadn’t had much experience when I moved across but I’ve learnt so much since. I have been given a promotion to billing assistant and am now helping out with the management accounts.

I now feel as if the sky’s the limit. I don’t look at things and think I can’t do that – I believe with hard work I can get there.

Ultimately, I’d like to be a finan-cial controller or finance manager. I’m looking forward to the upward curve - I’ve been given an opportu-

nity, I care about my work and I’m prepared to work hard to progress.

Have you any advice for young people looking for a career finance?When you start out you may find you have to do repetitive and bor-ing jobs but that is about learning to apply the logic that you have learnt and earning the trust of your employer.

It is a challenge but you need to work hard, be prepared to learn and take pride in whatever you do and eventually you will move on to more complex and interesting work.

Find out more about apprentice-ships at: www.apprenticeshipssuffolk.org.

Q&A - GARY SMITH, GROUP HEAD OF FINANCE, SERVEST

‘I’ve learnt so much...I now feel as if the sky’s the limit...’

‘In the medium to long-term there will be more finance roles in place to interpret and analyse data...’

Q&A - PHIL HALL, PARTNER AT BDO, IPSWICH

We recruit for strengths and potential...’

East Anglian Daily Times Tuesday, October 17, 2017 21BusinessEastMonthlywww.eadt.co.uk

What Early in Career (EIC) roles are you looking to fill?We have graduate and school leaver vacancies to join the local office, across most areas of accounting specialisms. We also host interns and summer school work experience programs over the summer, to develop talent for the future success of the organisation

What specific skills are you looking for?We are looking for potential and people who will be committed to studying to achieve their profes-sional qualification. We recruit using strengths-based criteria for our early in career roles as we want to recruit for strengths and potential, rather than assessing on experience.

How do you recruit this talent? In short, we recruit for all levels of experience into BDO.

We recruit our Early in Career talent using a strengths assessment approach. We believe in authentic assessment, as we want people to join us who are going to love what they do and who are able to be themselves and have a successful career at BDO. Each year at BDO across the country we recruit circa 80 school leavers, 200 graduates, 30 interns and offer 35 summer school places.

What initiatives do you have in place to attract talent?For EIC, we have a clearly defined marketing strategy to support our graduate and school leaver engagement and attrac-tion. We use a variety of adver-tising and are also supported by a fully bespoke recruitment process to BDO, assessing can-didate’s for strengths which we know are needed in order to have a successful career at BDO.

Visit the BDO team at the Suffolk Skills Show at Trinity Park on October 18.

Phil Hall, partner

at BDO in Ipswich.

The educators

What courses are relevant to young people wanting to work in finance or business? We offer a range of business and finance associated courses including A Level’s in Business, Accounting and Economics as well as a vocational BTEC Business course at Level 2 and 3.

How do apprenticeships fit into all of this? Apprenticeships are becoming more and more popular and stu-dents are seeing the benefits of studying and working after post-16 study. Students are increasingly being put off by the high univer-sity tuition fees and employers

have responded to this by increasing their provision of apprenticeships.

ONE college works with a number of employers such as Willis, KPMG and Grant Thornton. These companies come into the college to speak to students about careers and progression in their firms and the apprentice-ship opportuni-ties available. The college has a strong link with the Institute of

Directors and is one of only a few colleges in the country where students have the opportunity to be selected to be a student member

of the IoD. The IoD student mem-ber scheme focuses on equip-

ping students for future careers in business and finance in skills such as public speaking, job applications, routes into management and networking. This opportunity has given many students the springboard to

get an apprenticeship based on the networking

events they have attended with the IoD.

What advice would you give to a young person thinking about entering the finance sector?

Work experience is essential, and a range of work experience placements will help showcase a range of skills that you can use

Take part in any extra-curric-ular events or projects to enhance your CV.

Do your research on what jobs there are in business and finance; be prepared to ask people, create contacts, and always remember you have to start from the bottom and work up in business.

Q&A: ANGELA DEMOORE, SUBJECT LEADER IN ACCOUNTING AND FINANCE WEST SUFFOLK COLLEGE

Q&A - PAUL HINCHCLIFFE, ACCOUNTING AND BUSINESS TEACHER, ONE SIXTH FORM COLLEGE, IPSWICH

‘Be curious and keep up to date with what is happening with businesses in the news..’

‘Always remember you have to start from the bottom and work up in business...’

What courses are particularly relevant to young people wanting to work in finance or business? The Extended Diploma in Business is a two year course giving an insight into the foundations of how a business starts and continues on through sound management. Topics include people management (HR), finance management (Accounting), resource management (physical and technological) and marketing, to name a few. Students can progress into year 2 with an option of studying a more defined pathway in Business, Accounting and Finance (BAF), Business and Law, Business and Retail or Business and Marketing.

AAT Fastrack is an accounting qualification that some choose to study over a one year period, learning the foundations of bookkeeping. For those students wishing to learn more about finance in particular, we offer the London Institute of Banking and Finance, Certificate of Financial Studies (year 1) and diploma in Financial Studies (year 2).

What routes are there into the finance sector? For a school leaver, options would include the Business Extended Diploma, or an accounting apprenticeship. The business option allows a good depth of

knowledge in both accounting and finance, with opportunities to go out and complete work experience placements over the two years, helping to knit together academic theory with the complexities of workplace reality.

This compares to an apprenticeship which focuses on a student being in work four days a week and spending 20% of their time completing off the job

training, which may include AAT studies.

Are you seeing more opportunities for young people in this area? The number of apprenticeships in the area have increased due to the new Levy being put in place. This has encouraged a number of companies to reconsider employing a younger member

of staff with the hope of keeping them trained and motivated to stay and embed their knowledge into the business.

With regards to employment opportunities, through our links with local employers we have gained a momentum in the level of interest in our students, especially on the BAF pathway, with some waiting for them to finish their qualification, to another where one student was being fought over by three employers last year.

What advice would you give to a young person thinking about entering the finance sector?

Maths and English GCSE grades C/4 or above are key to getting into the finance sector.

Look out and apply for any work experience that you see available, as this can help identify any particular areas of finance and/or accounting that you find interesting.

Log all of the work experience you complete, as employers will be particularly interested in those candidates that have been proactive and therefore stand out with a competitive edge.

Be curious and keep up to date with what is happening with businesses in the news and how this potentially relates to your chosen field,

Be resilient, be prepared for knock-backs, and take ownership of your chosen career path.