It’s no secret that regulation, emerging technologies, and increased competition have disrupted the financial services industry – and are continuing to do so at accelerating rates. This rapid influx of change can be startling to both industry veterans and newcomers alike.
Operations professionals are one of the most affected groups by these changes, as they are the engines powering financial services. Despite the rise in outsourcing operations functions amongst investment managers, ISITC proves its value to these firms by helping them understand their businesses holistically, and how technology impacts an organization from the front of the house to the back.
We recently sat down with Rebecca Bruenning, Senior Manager, Operations at NISA Investment Advisors and Gary Heald, Global Settlements Advisor at Loomis Sayles, to hear how being a member of ISITC has helped them have a positive impact on their firms.
Sharpen your competitive edge
“ISITC gives deeper insight into the operational issues of the financial market, it’s helped us interpret and become more familiar with the market practice documents and SWIFT standards,” says Bruenning.
Through ISITC events, working groups, and forums, ISITC members can discuss with industry leaders the latest changes and developments taking place in the industry. Additionally, ISITC offers sessions specific to each constituency where members can gain in-depth insights on issues pertinent to their everyday jobs, as well as tactical strategies to adopt back at their firm.
Being a member of ISITC gives your firm the inside scoop on the best practices being developed before non-members in the industry. By attending ISITC forums, working group meetings, and other events, you’ll leave with exclusive insights that you can bring back to your firm.
Secure a seat at the table for your firm
“Why let other firms dictate how you do something? Give your firm the opportunity to express an opinion about the creation of market and best practices,” says Heald.
Members don’t just talk the talk – they walk the walk. Collaboration with other members to develop market practices helps position you and your firm for the future. What better way to demonstrate your leadership skills and commitment than paving the way for others with your insights? The investment management perspective is important for the development of the market and best practices ISITC develops, as they reap many of the benefits of the efficiencies achieved.
Expand your support network
“When bringing on a new product, I felt comfortable reaching out to other investment managers and vendors to discuss processes, procedures, and industry standards to have a better understanding of how to functionally set up our new product,” says Bruenning.
ISITC members share the common goal of driving the financial services industry forward. It doesn’t matter how long you’ve been involved or if your firms compete; as an ISITC member, you can speak freely about issues you’re facing in your role or organizationally at large and learn the strategies others have used to solve them.
“My managers have asked me to reach out to my ISITC network to get an opinion on something either new to the market or new to the firm. Several times in discussing issues like these amongst my network I find that more firms are also experiencing the same issue,” says Heald.
Want to learn more?
Reap the benefits of ISITC’s in-depth insight and extensive network by becoming a member, and position your firm at the forefront of financial services operations.