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Citadel LLC

American hedge fund and financial services provider

This article is about the financial services company. For the military college, see The Citadel. For other uses, see Citadel (disambiguation) and The Citadel (disambiguation).

Citadel LLC (formerly known as Citadel Investment Group, LLC) is an American multinational hedge fund and financial services company. Founded in 1990 by Kenneth C. Griffin, the company operates two primary businesses: Citadel, one of the largest hedge funds with more than US$38 billion in assets under management as of August 31, 2021);[3] and Citadel Securities, the largest market maker in stocks, options, and interest rate swaps for retail and institutional clients, handling 40% of the stock trades in the United States.[4][5]

The company has more than 1,400 employees, with corporate headquarters in Chicago, operational headquarters in Manhattan, and offices throughout North America, Asia, and Europe. Founder, CEO and Co-CIO Kenneth C. Griffin owns approximately 85% of the firm.[6]

History

Kenneth Griffin started his trading career out of his dorm room at Harvard University in 1987 trading convertible-bonds.[7] As a sophomore, he traded convertible bonds and hooked a satellite dish to the roof of his dormitory.[8] After graduating with a degree in economics, Griffin joined Chicago-based hedge fund Glenwood Partners. Citadel was started with $4.6 million in capital.[9] Citadel was originally named Wellington Financial Group after its flagship fund. The company name was changed to Citadel in 1994. Within eight years, the firm had more than $2 billion in assets.[10]

In 1998, Citadel started requiring investors to accept terms that "significantly restrict[ed] their ability to withdraw their capital", according to Institutional Investor.[10] When fund Long-Term Capital Management collapsed later that year, Citadel's capital lockdown made it "a rare buyer, as desperate hedge funds unloaded bond inventory".[10] In 2006, Citadel and JP Morgan Chase took over the energy portfolio and division of failed hedge fund Amaranth Advisors, which had suffered a 65% ($6 billion) loss in assets.[11] In November 2006 Citadel issued $2 billion of investment grade bonds to enable access to borrow money at a lower rate than it would otherwise be able to.[12]

In 2007, Citadel invested $2.5 billion in E-Trade, this transaction included acquiring E-Trade's securitized subprime mortgages, collateralized debt obligations (CDOs) and second lien loans, as well as 12.5% senior unsecured notes, and 84,687,686 shares of common stock (equal to 19.99% of the then currently outstanding shares). Citadel received a seat on the board of directors.[13][14] Citadel sold its remaining stake in E*Trade in 2013.[15]

During the financial crisis of 2007-2008, for 10 months, Griffin barred his investors from withdrawing money, attracting criticism.[16][17] At the peak of the crisis, the firm was losing "hundreds of millions of dollars each week".[18] It was leveraged 7:1 and the biggest funds at Citadel finished 2008 down 55%. However, they rebounded with a 62% return in 2009.[19]

On January 17, 2012, Citadel's flagship funds, Citadel Kensington Global Strategies Fund Ltd and Citadel Wellington LLC, crossed their respective high watermarks, earning back the 50% of assets lost during the 2008 financial crisis.[20] Having made up the losses, Citadel could once again charge client fees for managing their money and take a percentage of profits.[20] Citadel under Griffin's leadership was reported as differentiating from hedge funds rivals post 2008 financial crisis with an "aggressive expansion."[21] Starting at the beginning of 2014, over an 18 months period the hedge fund's assets under management increased $10 billion; from $16 billion to $26 billion as a result of "a 29% rise for its main hedge funds and a flow of new cash."[21] In January 2020, Citadel Securities paid $97m in China trading settlement, after Chinese regulators ended a long-standing investigation into Citadel and other local groups.[22]

During the coronavirus pandemic Citadel Securities created a "bubble" for a class of 100 interns by renting out a luxury resort in Wisconsin.[23][24][25]

In January 2021, Citadel + Point72 Asset Management invested $2.75 billion in Melvin Capital, after Melvin Capital lost 53% of its value owing to the GameStop short squeeze.[26][27][28][29]

Citadel group companies

There are three companies: Citadel the asset manager, Citadel Securities the market maker, and Citadel Technology.

Citadel

As of January 2016, Citadel manages more than $29 billion in capital and is one of the world's largest asset managers.[30] Citadel ranks as the eleventh largest hedge fund manager in the world,[31] and in 2006 the second largest multi-strategy hedge fund globally.[32] Citadel's group of hedge funds rank among the largest and most successful hedge funds in the world.[33]

In 2014, Citadel became the first foreign hedge fund to complete a yuan fundraising as part of a program to allow Chinese investors to invest in overseas hedge funds.[34]

Investment strategies

Citadel manages funds across five different investment strategies including equities, commodities, fixed income, quantitative strategies, and credit.[35]

Commodities - Energy trading: Griffin began recruiting the energy traders from Enron the day after it collapsed for a new business including "a team of traders, meteorologists and researchers" building what in 2011 was amongst the industries biggest energy trading groups[9]

Reinsurance - Citadel wanted to allocate the investment capital with its two funds, Kensington Global Strategies Fund Ltd and Citadel Wellington LLC, to investments that the company thought to be uncorrelated to their other investment strategies.[36] To achieve this move, Citadel, through capitalization via their funds, entered the reinsurer industry, which provides insurance companies with their own policies to spread the risk of losses that they have given to their customers, in 2004 by founding CIG Reinsurance Ltd (CIG Re), a Bermuda-based catastrophe reinsurer providing $450 million in capital.[37] Citadel additionally founded $500 million reinsurer New Castle Re in 2005, seeking to capitalize on rising prices for reinsurance in the wake of Hurricane Katrina's damage to property coverage costs.[38][39][36] In 2006, Citadel's two funds had approximately 10 percent of its assets invested in reinsurance.[40]

Citadel wound down CIG Re in November 2008 because the company could not achieve a financial strength rating, and as a result could not compete in comparison to other companies in the industry.[36] Meanwhile, New Castle Re remained open and received an 'A-' rating from AM Best in November 2008.[36] However, a month later on December 17, 2008, AM Best announced that New Castle Re's rating was under review when Citadel's funds experienced increased redemption requests as a result of the financial crisis.[41] Two days later on December 19, it was reported that Citadel would not be renewing the rights in New Castle Re contracts, but that Torus Insurance Holdings in Bermuda would do so.[42] In January 2009, Citadel placed New Castle Re into run-off.[43]

Risk management - The firm's risk management philosophy is focused on three main areas: risk capital allocation, stress exposure and liquidity management.[44] Citadel's risk management center has 36 monitors displaying more than 50,000 instruments being traded within the firm's portfolios.[44] The firm runs 500 stress tests each day to simulate the impact of potential economic and geopolitical crises or other market dislocation.[44] Citadel aggregates investment positions on trading screens to calculate "more than 500 doomsday scenarios" to assess the potential of risk for the firm.[21]

In 2014, Citadel rated an A grade for risk management in the annual Institutional Investor Hedge Fund Report Card.[45]

In April 2015, Ben S. Bernanke, who was the United States Federal Reserve chairman for eight years, joined Citadel as a senior adviser on global economic and financial issues.[46] In January 2017, Joanna Welsh became the Chief Risk Officer.

Citadel Securities

Market maker

Citadel Securities was formed in 2001, and is a market maker, providing liquidity and trade execution to retail and institutional clients.[47] Citadel Securities automation has resulted in more reliable trading at lower costs and with tighter spreads.[48] Barron's recently ranked Citadel Securities #1 in providing price improvement for investors in both S&P 500 and non-S&P shares.[34] In 2009 Citadel Investment Group and the Chicago Mercantile Exchange partnered to create a credit-default swaps electronic-trading platform.[49]

Citadel Securities is the largest market maker in options in the U.S., executing about 25 percent of U.S.-listed equity options volume.[50] According to the Wall Street Journal, about one-third of stock orders from individual investors is completed through Citadel, which accounts for about 10% of the firm's revenue.[21] Citadel Securities also executes about 13 percent of U.S. consolidated volume in equities and 28 percent of U.S. retail equities volume.[51] In 2014, Citadel Securities expanded its market-making offering to interest-rate swaps, one of the most commonly-traded derivatives.[52] By 2015 Citadel Securities had become the world's largest interest-rate-swap trader by number of transactions replacing Wall Street banks.[53]

During the coronavirus pandemic, Citadel Securities doubled its profit earning $4 billion in revenue during the first half of 2020 due to an increase in volatility and retail trading.[54]

In October 2020, Citadel Securities announced it would acquire the NYSE market making unit of rival IMC.[55][56][57] Also that month, Citadel Securities filed a lawsuit against the Securities and Exchange Commission over the SEC's decision to approve a new "D-Limit" order type for IEX.[58][59]

Regulatory issues

Over a two-year period until September 2014, hundreds of thousands of large OTC orders were removed from its automated trading processes, rendering the orders "inactive" so that they had to be handled manually by human traders. Citadel Securities then "traded for its own account on the same side of the market at prices that would have satisfied the orders," without immediately filling the inactive orders at the same or better prices as required by FINRA rules.[60]

In 2014, Citadel was fined $800,000 for irregularities in its trading practices between March 18, 2010, and Jan. 8, 2013 [61]

In 2017, Citadel was fined $22 million by the SEC for misleading clients regarding the way it priced trades.[62]

In 2018, Citadel was forced by the SEC to pay $3.5 million over violations stemming from incorrect reporting for nearly 80 million trades from 2012 to 2016.[63]

In 2018, Bloomberg reported that 40% of Robinhood's revenues were derived from selling customer orders to firms such as Citadel Securities and Two Sigma Securities.[64]

In January 2020, Citadel paid a 670 million-yuan ($97 million) settlement for alleged trading irregularities dating from 2015.[65]

Citadel Securities was fined $700,000 by FINRA in July 2020 for trading ahead of customer orders.[66] They delayed certain equity orders from clients to buy or sell shares while continuing to trade the same stocks in its own account as part of its market-making activities, according to FINRA.

In 2020, Citadel Securities was censured by FINRA a total of 19 times for a variety of misconduct, including failing to close failure-to-deliver positions, naked short selling, inaccurate reporting of short sale indicators, executing trades during circuit-breaker halts, and failing to offer its clients best prices on the bid-ask spread.[67]

On March 25, 2021, Citadel agreed to a censure by FINRA and a $275,000 fine for improperly reporting nearly 500,000 Treasury transactions between 2017 and 2019, revealing a systemic failure in Citadel's compliance systems.[68][69]

Concerns about conflicts of interest

In light of Citadel Securities's role in the GameStop short squeeze event, individuals such as Senator Elizabeth Warren have raised concerns about several potential conflicts of interest.[70] These include the relationship between Citadel Securities, which executes a majority of broker-dealer Robinhood's trades through a payment-for-order-flow relationship, and Citadel the asset manager, which provided a $2 billion investment in Melvin Capital, one of the main short sellers involved in the GameStop short squeeze; because Ken Griffin, the CEO and majority shareholder of Citadel, also owns 85% of Citadel Securities, there are concerns that the market maker's interests might align with the interests of those shorting GameStop to the detriment of those long GameStop.[70][71] Griffin has denied any wrongdoing.[72]

On March 17, 2021 Citadel's payment-for-order-flow arrangements with brokerages such as Robinhood was heavily criticized during Congressional hearings on the GameStop short squeeze.[73]

Citadel's practice of hiring officials from agencies that regulate it, including the SEC and the CFTC, as well its relationships with Ben Bernanke and Janet Yellen, has also been widely observed and attracted concerns about conflicts of interest.[74][75][76]

Concerns about systemic risk posed to U.S. markets

Analysts of U.S. financial markets have been critical of the SEC's decision to exclude Citadel Securities from its 2014 Regulation Systems Compliance and Integrity (Reg SCI) regulatory regime designed to make U.S. securities markets safer for investors; both Citadel and the SEC declined to comment on Citadel's being exempted from complying with this rule.[77]

On February 17, 2021, House Financial Services Chairwoman Maxine Waters suggested that the systematic importance of Citadel Securities might ultimately pose a threat to the U.S. financial system.[78] This point also emerged on several occasions during the March 17, 2021 hearing by the House Financial Services, with experts observing that Citadel Securities claims to trade "approximately 26% of U.S. equities volume" and "executes approximately 47% of all U.S.-listed retail volume, and acts as a specialist or market-maker with respect to 99% of traded volume in 3,000 U.S.-listed options names."[79][80]

In March 2021, President Biden's nominee for SEC Chairman, Gary Gensler, raised further concerns about Citadel's dominant market position in at a Congressional hearing in March 2021, asking: “one firm now has 40% to 50% of the retail order flow, what does that do to pricing of capital in this country? What does it mean to be best execution in this context?”[81] Invoking Amazon's dominance in the online retail marketplace, another market analyst described Citadel's rise as “the Amazonization of listed markets", a phenomenon he characterized as “very dangerous, not because there are no other players, but because over time it weakens the other players that could be competitive. It’s the essence of concentration risk.”[82] On May 5, 2021, Gensler repeated these concerns in his testimony to the House of Representatives Financial Services Committee.[83]

Investment bank

In 2008 Citadel Securities hired 70 people and Rohit D'Souza, a banker from Merrill Lynch, who left after eight months "to build an investment bank" and brokerage.[84] By August 2011, Citadel ended its foray into investment banking to instead focus on electronic trading and market making.[85]

Citadel Technology

Citadel Technology, established in 2009, is the wholly owned and independently operated affiliate of Citadel.[86][87] It offers investment management technology, developed internally at Citadel, to a wide range of firms and funds.[88]

In 2013, Citadel Technology announced a partnership with REDI. The partnership combines Citadel's order management system (OMS) with REDI's execution management capabilities (EMS).[86]

Former Citadel companies

Citadel Solutions - Citadel's fund-administration arm.[89]

Corporate affairs

Citadel ownership

In November 2006, Citadel became the second hedge fund to publicly issue debt bonds to investors in the form of senior unsecured debt totaling $2 billion, in an arrangement managed by Lehman Brothers and Goldman Sachs.[11]

Employees

The fund has become known for having one of the largest personnel turnovers in Chicago gaining the nickname of "Chicago's revolving door"[90] and the New York Times reported "the firm is unique in its reputation for being a revolving door."[9][91] It is also reported that turnover is aligned with the hedge fund industry.[90]

In March 2015, Citadel received a Top 10 Great Workplaces in Financial Services ranking by the Great Places to Work Institute, based on a survey by Citadel employees.[92]

Market advocacy

Citadel has played an active role in regulatory affairs and has advocated for financial legislation on market structure. In 1999, Congress repealed a provision in the Glass-Steagall Act of 1933 that strictly separated banking and trading activities by financial firms. Griffin called dismantling that law "one of the biggest fiascos of all time".[93] In the aftermath of the 2008 financial crisis, Griffin and Citadel called for greater transparency in derivatives trading, a stance at odds with many other hedge funds and major financial firms. The company spoke out against Wall Street for lobbying to delay the implementation of the Dodd–Frank Act.[93][94] Griffin has also called for breaking up "too big to fail" banks and separating their banking and trading activities.[94]

Following the 2014 publication of Flash Boys by Michael Lewis, who claimed financial markets are rigged "by large, high-speed traders" (also known as high-frequency traders) Griffin, who was not interviewed by Lewis, shared his views on the book and its allegations during his second congressional hearing.[95] Griffin said in front of the Senate Banking Committee that from his perspective "the U.S. equity markets are the fairest, most transparent, resilient and competitive markets in the world."[95] Griffin expanded by saying that high-frequency trading functions to reconcile discrepancies between options tied to groups of stocks and the stocks themselves, saying, "Somebody has to keep the New York markets in line with the markets in Chicago. It all happens at an extremely low cost in the context of our capital markets".[95] During an event at Georgetown University Griffin called the book "fiction".[96]

Speaking fees paid

In 2014, former president Bill Clinton was paid $250,000 by Citadel to speak at New York restaurant Daniel to investors and employees in celebration of the Citadel's founders' 46th birthday.[21]

In 2015, Citadel paid pop-star Katy Perry $500,000 to perform at an event celebrating the 25th anniversary of the firm.[97][98][99]

Citadel has paid over $800,000 in speaking fees to current secretary of the treasuryJanet Yellen.[100]

See also

References

  1. ^Fletcher, Laurence (August 1, 2019). "Citadel adds traders to profit from central bank stimulus shifts". London: Financial Times. Nikkei. ISSN 0884-6782. Archived from the original on October 17, 2019. Retrieved December 13, 2019.
  2. ^"Ken Griffin Bloomberg". Bloomberg News. 2019. Archived from the original on August 20, 2020. Retrieved October 9, 2020.
  3. ^"About Citadel - Global Multistrategy Hedge Fund & Asset Management". Citadel.
  4. ^Sardana, Saloni (June 22, 2020). "Ken Griffin's Citadel Securities is cashing in on the day-trading boom by buying customers' orders". Business Insider.
  5. ^"Ken Griffin has another money machine to rival hedge fund". Crain Communications. Bloomberg News. December 11, 2019. Archived from the original on October 23, 2020.
  6. ^"Bloomberg Billionaires Index". Bloomberg L.P.Archived from the original on August 20, 2020.
  7. ^Strasburg, Jenny; Zuckerman, Gregory (November 7, 2008). "Hedge Fund Selling Puts New Stress on Market". The Wall Street Journal. ISSN 0099-9660. Archived from the original on September 3, 2017.
  8. ^Meyer, Graham (June 8, 2011). "The File on Citadel's Ken Griffin". Chicago Magazine. 2016. (Politics & City Life). Chicago, IL, United States: Chicago Magazine. Chicago Tribune Media. ISSN 0362-4595. Archived from the original on December 14, 2019. Retrieved March 11, 2015.
  9. ^ abcAhmed, Azam; Craig, Susanne (August 11, 2011). "Citadel Chief Gives Up Dream for Investment Bank". New York Times (DealBook). United States. The New York Times Company. ISSN 1553-8095. Archived from the original on October 16, 2015. Retrieved February 25, 2015.
  10. ^ abcLux, Hal (August 31, 2001). "Boy Wonder". The Institutional Investor. Cfo Directory. United States: Institutional Investor. Institutional Investor LLC. ISSN 0020-3580. Archived from the original on February 21, 2020. Retrieved July 24, 2015.
  11. ^ ab"Citadel Planning $2 Billion Debt Offering". New York Times (DealBook). United States. The New York Times Company. November 26, 2006. ISSN 1553-8095. Archived from the original on December 14, 2019. Retrieved December 14, 2019.
  12. ^Cox, Rob; Christy, John (November 30, 2006). "Hedge Fund Citadel Finds a Way To Keep Financial Independence". The Wall Street Journal. Eastern Edition (BreakingViews). United States: Wall Street Journal. Dow Jones & Company Inc. ISSN 0099-9660. Archived from the original on December 18, 2019. Retrieved December 17, 2019.
  13. ^"E*TRADE Financial Announces $2.5 Billion Investment Led by Citadel" (Press release). E*Trade Financial. November 29, 2007 – via U.S. Securities and Exchange Commission.
  14. ^Yerak, Becky (November 30, 2007). "Citadel boosts E-Trade stake with $2.5 billion investment". Chicago Tribune.
  15. ^"Citadel to sell its remaining stake in E*Trade".
  16. ^Copeland, Rob (August 3, 2015). "Citadel's Ken Griffin Leaves 2008 Tumble Far Behind". The Wall Street Journal. Dow Jones & Company. ISSN 0099-9660. Archived from the original on December 13, 2019.
  17. ^Boak, Joshua (December 13, 2008). "Citadel suspends fund redemptions". Chicago Tribune.
  18. ^"Citadel chief rails against megabanks". Financial Times. September 10, 2013.
  19. ^Meyer, Graham (June 8, 2011). "The File on Citadel's Ken Griffin". Chicago. ISSN 0362-4595. Archived from the original on December 14, 2019.
  20. ^ abAhmed, Azam (January 20, 2012). "Citadel Clears Its High Water Mark". The New York Times (DealBook). United States. ISSN 1553-8095. Archived from the original on October 23, 2015.
  21. ^ abcdeCopeland, Rob (August 3, 2015). "Citadel's Ken Griffin Leaves 2008 Tumble Far Behind". The Wall Street Journal. Eastern Edition (Markets). United States: Wall Street Journal. Dow Jones & Company Inc. ISSN 0099-9660. Archived from the original on December 13, 2019. Retrieved October 23, 2015.
  22. ^"Citadel Securities Pays $97m to Settle with China Regulators". Archived from the original on July 28, 2020. Retrieved January 21, 2020.
  23. ^Saacks, Bradley. "How $34 billion hedge fund Citadel rented out a five-star resort for a month to pull off an in-person summer internship 'bubble' for more than 100 college students". Business Insider. Archived from the original on August 30, 2020. Retrieved September 6, 2020.
  24. ^Shazar, Jon. "Ken's Kwarantine Kamp Opens Kohler Location For Eager Interns". Dealbreaker. Retrieved September 9, 2020.
  25. ^Echikson, Julia; Mazzei, Patricia (April 7, 2020). "No Trading Floor? No Problem. A Financial Firm Quarantines at the Four Seasons". The New York Times. ISSN 0362-4331. Archived from the original on October 14, 2020. Retrieved October 13, 2020.
  26. ^Chung, Juliet (January 25, 2021). "WSJ News Exclusive

    Macro Strategy Internship

    LockApplications for this job are now closed

     

    Placement opportunities are available within the Macro Strategy team – part of the Global Markets division. This is State Streets’ research, FX trading and securities lending business. Our goal is to enhance and preserve portfolio values for our clients through original research proprietary portfolio and risk management technologies.
    This placement will involve supporting the Macro Strategy team in producing high quality research publications for our institutional clients.  You also will work very closely with the members of the macro team across the globe and the sales and trading teams.

     

    Why this role is important to us

    The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM’s number one goal is to enhance and preserve our clients’ portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.

    Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

    Responsibilities

    • Creating and updating weekly client requests -50%
    • Supporting the team in managing and updating documents – 20%
    • Produce a daily document to be sent out to the American Sales and trading team and clients updating them on current market events – 10%
    • Manage the research website and help clients and internal users with any issues – 10%
    • Ad-hoc tasks – producing charts for publications and the wider sales team -10%

     

    What we value

    • Deadline- and detail-oriented; ability to work in a fast-paced structured and team-based environment as well as the ability to work independently
    • Professionalism dependability and trustworthiness
    • Strong interest and competency in global financial markets
    • Highly motivated, self-starter with a drive for success
    • Ability to identify problems and explore solutions

     

    Education & Preferred Qualifications

    • A minimum 2.1 honours degree or equivalent (predicted)
    • Candidate must be an undergraduate student studying a four year course including a year in industry
    • Candidate should be completing an undergraduate degree in Economics, Finance, or Mathematics
    • A-level mathematics is preferred
    • Demonstrated experience of using Excel, Word and PowerPoint.Experience using MSFT Excel with VBA preferred
    • Enthusiasm for learning and commitment to development with an understanding of existing strengths and potential barriers to success
    • Strong analytical and organizational skills
    • Strong verbal written and interpersonal communication skills
    • To apply you must be an undergraduate and able to start your placement in early July 2021 and remain in the position for 13 months. (Please note that you must be intending to return to university to finish your degree after the placement

    DEADLINE 18th December 2020

    Источник: https://www.brightnetwork.co.uk/graduate-jobs/state-street/macro-strategy-internship
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    Careers

    Why Choose HCL

    At HCL, innovation is not just another word, it’s part of our organizational heritage and DNA - a journey that began in 1976 and continues to power us ahead even today. The culture at HCL Technologies – ideapreneurship™ as we call it - makes the license to ideate a distinctive organizational capability. We see a grassroot movement that has rallied the entire organization behind this innovation agenda, in a manner that leads to relationships that deliver value beyond the contract to our customers. ideapreneurship™ - is based on the fundamental belief of inverting the organizational pyramid and engaging, enabling and empowering the front line. This is because we understand that they are best placed to appreciate and understand the customers’ business and shape the roadmap to enhance the ‘value zone’ created in every interaction they have.

    Ideapreneurship puts employees at the forefront of innovation where they innovate and collaborate with each other and with customers to seed, nurture and harvest ideas. This innovation and collaboration culture has given rise to a number of key enablers and tools to bring about a business impact.

    innovation
    innovation

    Employee stories from around the world

    innovation

    Anthony Fornasier

    Consultant

    Working for HCL provides me with a wide scope of opportunity to both showcase and widen my skills. It also allows me to work alongside and see the work of many very talented individuals who are driven and ambitious in displaying those skills. I should add that as a Knowledge Manager on one of my current accounts I see the benefit of having a mechanism for capturing, validating and sharing knowledge between technical engineers, project managers and accounts in order to increase efficiency and underpin delivery value and revenue creation. This is a source of great satisfaction to me and a big reason why I enjoy working for HCL

    innovation

    Payal Baloni

    Manager, Marketing

    What I love about working in HCL, is the passion of the people around me for the work they do. It’s the same passion which inspires me every morning when I come to work.

    HCL believes in the power of ideas and ideapreneurs and it is this belief, which enables each of us to push the boundaries in whatever field we belong to and to do great, groundbreaking work.

    innovation

    Warren Daly

    Technical Architect

    At HCL, I have been encouraged to learn and develop new skills. I have been given the responsibility of managing both people and projects and these opportunities have allowed me to grow professionally. The benefit of working on different projects with different customers means that I am always widening my professional skills and experience whilst growing as an individual.

    innovation

    Rupesh Kumar

    Deputy General Manager

    I have been with HCL for more than 10 years and it is a pleasure to work for a company that is growing in the right direction and takes care of their employees. I love the aspect of being given a job to do and left alone to do it. I enjoy people and the diversity of it all. I feel I am appreciated and allowed to take initiative to get things accomplished. The environment is incredibly empowering and I have a voice within the company.

    innovation

    Nora Oconnor

    Deputy Manager, HR

    Throughout my tenure in HCL, I have worked with an array of exciting clients on differing projects and have had opportunities to travel globally with HCL meeting excellent HCL ideapreneurs in multiple GEOs. The culture in HCL is “Employee First” centric. We have various Employee First councils which have ignited various opportunities to work with other communities and organisations.
    HCL is so diverse that I have been fortunate to work alongside so many interesting people. Every day is different!

    innovation

    Anuradha Khosla

    Associate Vice President ,HR

    My professional career spans to more than two decades out of which 13 years have been at HCL managing and leading various HR verticals like Talent Development, Diversity, Employee Experience and Engagement. The leaders and peers that I have worked with unconditionally supported me in taking on new responsibilities, learning new things and have helped me grow. It is the opportunities for taking on new challenges and responsibilities that make working here so rewarding. HCL has a pool of diversified workforce generating ideas which make it all the more interesting to work!

    What We Do

    HCL Tech Services Lines and Industries

    HCL Technologies is a next-generation global technology company that helps enterprises reimagine their businesses for the digital age. Our technology products, services, and engineering are built on four decades of innovation, with a world-renowned management philosophy, a strong culture of invention and risk-taking, and a relentless focus on customer relationships. With a worldwide network of R&D, innovation labs and delivery centers, and 187,000+ ‘Ideapreneurs’ working in 50 countries, HCL serves leading enterprises across key industries, including 250 of the Fortune 500 and 650 of the Global 2000. We offer an integrated portfolio of products, solutions, services, and IP through our Mode 1-2-3 strategy built around Digital, IoT, Cloud, Automation, Cybersecurity, Analytics, Infrastructure Management and Engineering Services, amongst others, to help enterprises reimagine their businesses for the digital age.

    Career

    To Know more about HCL Technologies , visit our About Us page.

    HCL is proud to be an Equal Employment Opportunity and an Affirmative Action Employer and is committed to the culture of Inclusion and Diversity. At HCL, we do not discriminate (and do not tolerate any discrimination) on the basis of race, religion, sex, colour, age, national origin, pregnancy, sexual orientation, physical ability, or any other characteristics. All employment decisions, from hiring to separation, will be based on business requirements, candidate’s merit and qualification, and in compliance with the local law.

    Источник: https://www.hcltech.com/careers
    state street bank summer internship 2020

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    Nab tech intern


    HTTP/1.1 200 OK Klm contact number usa Sun, 28 Nov 2021 16:30:54 GMT Server: Apache/2.4.6 (CentOS) PHP/5.4.16 X-Powered-By: PHP/5.4.16 Connection: close Transfer-Encoding: chunked Content-Type: text/html; charset=UTF-8 20a0 nab tech intern The program seeks to help NAB members that do not currently offer engineering or media-technology internships. Display in PILOT Booth in The NAB Education Foundation (NABEF) today announced internship placements for the 2015 Technology Apprenticeship Program (TAP). Aug 15, 2018 · PILOT has established a new fund for NAB member stations to provide paid internships for technology positions at their facilities, starting next Spring. NAB brings in hundreds, others dozens, to sate demand for digital skills. · just now. He performed a rendition of Tom Petty's 1989 hit "Free Fallin" during the ceremony, as well as an original song immediately following the event. Designed so that you get a real insight into the diverse opportunities at Westpac Group – the summer intern program gives you what you need to make an informed career decision. Sharing is caring! Know anyone who might be interested? Must have a Bachelor’s degree with a focus on Marketing or Advertising (near completion can also apply) This will be a paid opportunity for 4 or 6 weeks (depending on candidate’s profile, interview & timelines) Interested candidate can apply at Hr Opportunities for Students At Amazon, the spirit of innovation is part of our DNA. Please note that this is an UNPAID internship! Benefits Of This Internship Include  You gain real-world work experiences at an internationally reputable high-tech company. Fahad Al-Salem Street. Hi, just thought I would make this thread for those who have applied for the NAB technology internship program starting in Jan 2022. With a love for programming from a young age, Chris dreams of creating technology that everyone can use. NAB is seeking dynamic disruptors to join our Technology workforce through our Technology Internship program. 130. The NAB Education Foundation (NABEF) today announced the 10 individuals selected to participate in the 2016 Technology Apprenticeship Program (TAP), which begins this month. The program will also provide resources to assist selected stations in identifying and supporting interns, as well as the ability for interns to attend the 2019 NAB Show in Las Vegas, Nevada. Aug 18, 2021 · State street bank summer internship 2020 part of the NAB journey and join one of Australia's largest Technology Internship programs! We are looking for some great new talent to join us who can say yes to being: Analytical Problem Solvers. Technology is at state street bank summer internship 2020 heart of this change to deliver great experiences to our customers. We have countless opportunities at NAB to kick start your career. ANZ's paid eight-week Summer Intern Program is a great way to explore a career with ANZ, and gain invaluable experience in the corporate world. The program will also provide resources for selected stations in identifying and supporting interns, as well as travel assistance for the selected interns to attend the 2020 NAB Show in Las Vegas. how many people don t have internet Program Dates: You’ll how does zelle work with td bank to be free to commence full time employment for 7 weeks (exclusive of 3 weeks unpaid leave over the festive period). NAB Show is where ground-breaking technology is unveiled, innovative solutions are displayed and game-changing trends are exposed. – 4:00 p. Being on the board is a volunteer position with a three-year commitment. Dec 08, 2014 · Published Dec. Application form the domains of the NAB; OR submit proof of having a bachelor’s degree in any subject and complete fifteen (15) academic credit hours in long term care administration which encompasses all the domains of the NAB; • have submitted the required application and fees; • complete www turbotax com full site internship in a licensed facility with a minimum of 60 beds; 2022 Technology Intern Program. NAB 'Technology Intern Program' Jan 2022 Be part of the NAB journey and join one of Australia’s largest Technology Internship Programs. This online-only resource is an extensive glossary of terms, a few real-life scenarios, and a sampling of practice questions that are similar to those you will find on the examination. Kuwait City, Al Asimah Mar 30, 2016 · Interns may also receive academic credit depending on the college they attend. Sep 30, 2019 · The recipients are NAB members that do not currently offer engineering or media technology internships. Nov 03, 2021 · PTCL Internship Program 2021 Apply Online as Management Trainee Program MTO has been announced through the advertisement and applications from the suitable persons are invited on the prescribed application form. We’re giving preference to small and medium-sized members that do not currently offer engineering or media-technology internships, but we will also consider larger members interested in starting or adding such internships. We wish you a good luck and have a prosperous what is technology investment banking. Effective technology resumes clearly show the candidate's technical skills—a hiring manager shouldn't have to go fishing for this information. 24 Dec 2020 to 8 Jan 2021 – Holiday leave (unpaid) Cloud computing is quickly becoming a dominant technology platform and our people need to have the relevant skills to deliver for our customers. NAB 'Technology Intern Program' Jan 2022 National Australia Bank 60d ago Similar jobs pay $45k - $58k. Aug 27, 2021 · Jobs in NAB Lahore 2021. Jul 03, 2018 · The NAB Education Foundation has announced the 2018 participants for its Technology Apprenticeship Program. TAP exposes technology-minded graduates and young professionals to the broadcast industry through a six-month, hands-on training program that includes a two-month internship. P. In 2018, we kicked off our cloud-first multi-cloud strategy and launched the NAB Cloud Guild as our leading training program to build and grow the capability of our people. After the challenges of 2020, we’re finding excitement as we turn toward the beginning of May 28, 2021 · NAB upgrades digital technology in its branches Australia's biggest banks look to paid internships to draw in new tech talent NAB deploys 2000 Google Pixels to customer contact team technology and reinventing our customer and employee experience through simpler, automated services and improved platforms. $66. “Through these grants, we expect to provide more opportunities for students to explore and learn about broadcast technology and engineering,” said NABEF President Marcellus Alexander. 24. NAB 'Technology Intern Program' July 2021. Design, implement and maintain AWS/Azure infrastructure. NAB State Accident Fund. Contact State Farm® through our self service features, phone, email, or mail. CONTACT US

    Macro Strategy Internship

    LockApplications for this job are now closed

     

    Placement opportunities are available within the Macro Strategy team – part of the Global Markets division. This is State Streets’ research, FX trading and securities lending business. Our goal is to enhance and preserve portfolio values for our clients through original research proprietary portfolio and risk management technologies.
    This placement will involve supporting the Macro Strategy team in producing high quality research publications for our institutional clients.  You also will work very closely with the members of the macro team across the globe and the sales and trading teams.

     

    Why this role is important to us

    The team you will be joining is a part of State Street Global Markets (SSGM). When owners and managers of institutional assets need research, trading, securities lending and innovative portfolio strategies, they turn to SSGM business unit. As our investment research and trading arm, SSGM’s number one goal is to enhance and preserve our clients’ portfolio values by applying technology, optimizing trading, and linking asset classes and markets across the world.

    Join us if making your mark in the capital markets industry from day one is a challenge you are up for.

    Responsibilities

    • Creating and updating weekly client requests -50%
    • Supporting the team in managing and updating documents – 20%
    • Produce a daily document to be sent out to the American Gte online banking my key and trading team and clients updating them on current market events – 10%
    • Manage the research website and help clients and internal users with any issues – 10%
    • Ad-hoc tasks – producing charts for publications and the wider sales team -10%

     

    What we value

    • Deadline- and detail-oriented; ability to work in a fast-paced structured and team-based environment as well as the ability to work independently
    • Professionalism dependability and trustworthiness
    • Strong interest and competency in global financial markets
    • Highly motivated, self-starter with a drive for success
    • Ability to identify problems and explore solutions

     

    Education & Preferred Qualifications

    • A minimum 2.1 honours degree or equivalent (predicted)
    • Candidate must be an undergraduate student studying a four year course including a year in industry
    • Candidate should be completing an undergraduate degree in Economics, Finance, or Mathematics
    • A-level mathematics is preferred
    • Demonstrated experience of using Excel, Word and PowerPoint.Experience using MSFT Excel with VBA preferred
    • Enthusiasm for learning and commitment to development with an understanding of existing strengths and gamestop is open today barriers to success
    • Strong analytical and organizational skills
    • Strong verbal written and interpersonal communication skills
    • To apply you must be an undergraduate and able to start your placement in early July 2021 and remain in the position for 13 months. (Please note that you must be intending to return to university to finish your degree after the placement

    DEADLINE 18th December 2020

    Источник: https://www.brightnetwork.co.uk/graduate-jobs/state-street/macro-strategy-internship

    Internships

    Internships provide Assumption University undergraduates opportunities to take theory from the classroom and apply it, gaining hands-on experience that will enhance your education.

      • Choosing a major and career path that fits your strengths
      • Learning everything you need to know about your future career path, including how to develop and refine your resume and cover letter, through our comprehensive resource library
      • Finding and pursuing internship opportunities with companies and organizations such as Boston Children’s Hospital, Channel 7 News WHDH, Deloitte, EMC, Ernst & Young,  Fidelity Investments, Telegram & Gazette, UMASS Medical School, Worcester Public Schools, Worcester Superior Court, You Inc., TJX and YWCA of Central MA
      • Building professional contacts through Career Development & Networking events
      • Preparing for a job interview with mock interviews offered by CDIC staff
      • Facilitating the pursuit of employment with organizations such as Amazon, Barton Associates, IBM, Ernst & Young, Beacon ABA Services, Bose, Massachusetts General Hospital Cancer Center, The Bridge of Central MA, Enterprise Rent-A-Car, The Hanover Insurance Group, HMEA, TJX, Key Program, Marcum LLP, New England Center for Children, UMASS Medical School, Riverside Community Care, RSM/McGladrey, TEKsystems and You Inc.
      • ABC News
      • American Antiquarian Society
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    Apply to Assumption

    Assumption College seeks students who will take full advantage of the extraordinary opportunities available to them. Start your journey and apply today. We look forward to reviewing your application!

    Undergraduate AdmissionsGraduate Admissions
    Источник: https://www.assumption.edu/explore-academics/undergraduate-studies/experiential-learning/internships

    perfume angel only victoria secret COVID-19 return-to-the-workplace strategies Emerging lessons and key questions for financial services leaders

    Considerations FSI leaders now face as they map out when, how—and sometimes, if—operations may resume in workplaces around the world.

  27. 1. Returning to the workplace in financial services will likely play out over an extended period. Many leaders are still in the early stages of developing return-to-workplace strategies, and planning maturity levels vary.
  28. 2. When assessing the range of approaches available, both roles and locations in terms of feasibility of remote work and the risk to public health should be considered, and any return-to-work analysis should consider the rapid acceleration of tech-enabled remote work.
  29. 3. It’s also critical for organizations to consider pandemic management protocols (PMP), which may include use of personal protective equipment for staff, procurement and use of masks and gloves, temperature screening, a dedicated quarantine room, and maintenance of appropriate social distancing measures for customers, employees, and third-party vendors.
  30. 4. Companies may have to reorient levers of employee engagement: work protocols, orientation programs, well-being initiatives, teambuilding efforts, and rewards and recognition programs.
  31. 5. In the longer term, many companies are evaluating permanent remote work for some of their workforce. Based on conversations with industry leaders, some companies may consider remote working for 30 percent to 35 percent of their workforce on a more permanent basis.
  32. 6. Even as firms re-enter, leaders should prepare for future scenarios, such as another potential stay-at-home order in case the pandemic spread resurfaces or increases. Firms may even have to make it an iterative process and show agility and flexibility to learn and adapt based on the experience in the initial weeks of re-entry.

Over the past two months, most people across the globe have shifted to working from home, reinventing themselves both personally and professionally. To no one’s surprise, it’s been an equally transformative experience for homes for sale in sacramento under 300 000 services institutions (FSIs). Now, another transformation is emerging: While the pandemic appears far from over, some regions are gradually beginning to re-open. Will the financial services industry follow suit? If so, when and how?

A mid-April Deloitte survey of 100 senior FSI executives with responsibility for crisis management and business continuity planning revealed that at least half of respondent firms are developing COVID-19 operational contingency plans spanning at least the next three months. Part of the complexity around re-opening has to do with the scale and scope of FSI real estate. From office towers to data centers to bank branches, the industry is also the second largest in terms of office space leasing, accounting for more than 15 percent of total office leasing activity.1

There have already been some announcements: Capital One recently disclosed that they will not have any broad return to work until at least September.2 Goldman Sachs has begun a gradual return to work through May in Hong Kong and a few other areas, but anticipates that a single strategy will not be appropriate for all of their global locations.3 Some firms are learning from their global operations and likely will apply lessons from areas that have already re-opened: The Canadian insurer Manulife increased its in-office employees in China from 25 percent to 75 percent within four weeks of reopening.4

This is consistent with bb over the top spoilers we’re hearing in conversations with firm leaders, who suggest that they believe this will likely play out over an extended period: One firm leader we spoke with said they hope to return 40 percent of their employees to the office by August 2021. Overall, the reality is that there isn’t any urgency to return to a physical space; many firms have adapted to the remote work environment and significant health, safety, and sanitation challenges remain. This is especially true in investment management, where many firm leaders have reported a smooth and successful transition to remote work and are assessing the risk-reward trade-offs of even a gradual return. Even as plans emerge, many leaders are still in the early stages of developing return-to-workplace strategies, and planning maturity levels vary. While some have created steering committees and sophisticated scenario-based plans, others are only starting to review basic decisions about how many spaces to open and how to open them.

Our survey responses reveal that restart plans were likely to be role-specific or geography-specific, or a combination of the two (figure 1). Respondents also cited density reduction, sanitation, and employee support measures as key factors in their return-to-work strategies. Let’s look at these initiatives in turn.

How firms are planning for a return to workplace

Who needs to return? Who doesn’t?

Leaders should consider several factors when deciding who needs to return to the workplace. To ensure an effective and successful re-entry, leaders can first create a centralized working group to oversee the entire situation that can coordinate with the leadership team and execute plans. Next, they could define critical business services and use a decision matrix to determine which jobs and roles would need to be located in workplaces versus those that could be done remotely. As the Goldman Sachs example suggests, re-entry is not expected to be a one-size-fits-all proposition. When assessing the range of approaches available, leaders can consider both roles and state street bank summer internship 2020 in terms of feasibility of remote work and the risk to public health (figure 2).

Return to work matrix

Any return-to-work analysis should consider the rapid acceleration of tech-enabled remote work. For example, while bank tellers may seem an obvious choice to be among the earliest to return to their workplaces, some banks are developing touchless interactive teller machines to enhance the drive-thru experience, reducing the need to have tellers onsite.5 Claims adjusters have made a similar adjustment. Historically, adjusters have needed to travel to assess damage as part of the settlement process, but new tools have been deployed that allow this to be done remotely.6 In contrast, while traders have mostly made the shift to home-based work, the lack of available turrets, along with potential compliance concerns, may require them to return to the trading floor as soon as feasible. Many other roles fall somewhere in between: Employees who serve in marketing roles, for example, can do most of their work remotely, although they may need to come into the office periodically to attend group meetings. For such roles, firms could consider select in-office days or staggered work hour options.

In the longer term, many companies are evaluating permanent remote work for some of their workforce. State street bank summer internship 2020 on conversations with industry leaders, some companies may consider remote working for 30 percent to 35 percent of their workforce on a more permanent basis. This may also result in companies exploring alternate talent models, such as gig workers or contract employees, increased opportunities to automate manual processes, and a re-evaluation of disaster recovery/back-up sites.

Are the workplaces ready?

From a business perspective, many employees understand why they may need to return to the office, but it is important that they feel ready, willing, and state street bank summer internship 2020 to come in. Some may have responsibilities at home, such as child care or elder care. They may also have safety concerns, as consumers do.7 Some large banks and investment management firms have rolled out employee experience surveys to gauge comfort levels in returning to the workplace. Other firms are considering implementing “opt-in” programs for their workers who wish to return.

Firms, of course, also must comply with government health and safety mandates. In the United States, for example, the Occupational Health and Safety Administration (OSHA) guidelines include a wide range of hygiene, cleaning, sanitation, safety, and social distancing measures that companies must follow to minimize the risk of COVID-19 exposure in their workplaces.8 That said, the mission of making employees and customers feel safe enough to return to offices, banks, and other physical spaces falls squarely on management.9

Implementing social distancing measures

Social distancing measures include factors such as reviewing seat-sharing policies, preparing structured shared-seating programs, staggering work hours, and using large meeting rooms for smaller groups. To support social distancing, some firms are also deploying contact- and workspace-tracing apps.10

Extra planning will also be needed for office towers to ensure distancing measures are followed in elevators and lobbies so people can move throughout the building in an orderly and timely manner and avoid crowding. A large services firm recently conducted a simulation that showed it can take as much as two and a half hours to move people into and out of a fully occupied downtown office tower, revealing the need to stagger entry and exit times. Corporate real estate leaders will have to look at contracts for leased space to determine who would be responsible to implement these changes and will need to work collaboratively with landlords during the planning and implementation phases.

Regardless, most workplaces were not designed so that people could remain distant from one another. Due to pervasive space constraints, returning to previous models will present ongoing challenges. This is why some respondents said their companies are exploring ways to revamp onsite positions into ones that could be handled remotely.

Enhancing health and sanitation efforts

Companies may consider using smart building management capabilities, such as predictive maintenance solutions, air quality sensors, UV cleaning, infrared temperature cameras, and HEPA air filters for both owned and leased spaces. These can help bolster confidence among employees that they will be safe when they return to work: One of the key reasons the Chinese workforce state street bank summer internship 2020 open to returning to the office quickly was the use of advanced and high-quality air filtration systems.11 Companies may also consider increasing the frequency of cleaning, especially of common areas and meeting places.

It’s also critical for firms to implement pandemic management protocols (PMP), which may include use of personal protective equipment for staff, procurement and use of masks and gloves, temperature screening, a dedicated quarantine room, and maintenance of appropriate social distancing measures for customers, employees, and third-party vendors. A few large institutions are conducting daily temperature checks for all in-office employees. Companies could also provide whole-health benefits and even onsite medical staff.

How will the employee and customer experience need to change?

With mass virtual work established, leaders will need to re-evaluate existing employee engagement practices as firms take a gradual approach to return to work. In light of growing concerns among employees about the safety of shared workspaces, one insurance company is redesigning its agile work environments within office buildings. Similarly, an investment management firm had adopted a more open workplace environment to encourage collaboration and creativity, which will now need to be dialed back. Many leaders are exploring how the emerging hybrid operating model—some workers in the office, and some remaining at home—will impact firm culture.

Respecting individual employee needs and preferences

Companies will likely have to reorient all levers of employee engagement: work protocols, orientation programs, well-being initiatives, teambuilding efforts, and rewards and recognition programs. For onboarding and training, many investment management firms use an apprentice-based model to train new associates, which will likely have to shift to more digital models. Firms should therefore also update employee handbooks to include new norms for both in-office and virtual work environments. One such initiative was undertaken at the Canadian insurer Manulife. The company ramped up the digital interaction skills of its 12,000 agents in China to increase client engagement and enable remote sales.12

FSIs are also reassessing technology state street bank summer internship 2020, processes, and the use of performance management tools. Many firms have had controls in place that restrict some activities, such as document printing to in-office locations. When their workers moved home, this slowed down performance of both administrative and client service tasks. As a result, some employees have been emailing operational reports and other documents to their personal accounts so they can print these documents at home. Firms will also need to re-implement control standards for trading operations across the board. While some traders move back to the office, others may be still at home, where they are now operating under a set of rules that were somewhat relaxed by regulators. These operating environments will need to be harmonized.

Client onboarding, too, will need to move away from certain practices, such as requiring signatures on paper documents. Another consideration is that collaborative work environments have made it possible to take quick action during a typical workday in the office. But since many schools are operating remotely and onsite summer and after-school programs are the links at columbia cancelled or postponed, employees state street bank summer internship 2020 have significant child care and other responsibilities at home. This will require leadership flexibility to manage changing productivity levels for workers remaining at home. Indeed, one leader in investment management suggested that child care is a challenge they haven’t cracked the code on yet.

Finally, given the wide-ranging changes in how physical space may be used, firms should deploy change management and communications cascades to help customers and employees feel safe returning to these spaces. Leaders will have to educate and guide customers about PMP and social distancing measures by posting signage about social distancing and handwashing in their retail locations.13

Redesigning spaces and practices for customer comfort

Many firms with retail footprints, such as bank branches and investor centers, have remained open, using drive-thru facilities to avoid contact. For example, 80 percent of Chase branches are open with reduced staff.15 In other parts of the industry, a few companies are evaluating real estate space requirements based on the number of employees who worked at each site. One insurance company CFO said they hope to convert offices with fewer than 10 people to remote models.

More PPE, such as plexiglass dividers, may need to be added: While tellers have long been separated from the banking floor, firms may want to adopt a similar approach for their higher net worth clients seeking investment advice. And while some banks had moved to a concierge-style approach, with customer service associates walking around branches with tablets in hand, this practice will have to be adjusted, at least for the foreseeable future. Banks could also consider reopening some branches with an appointment-only approach for customers who require in-person service.16

As these locations re-open, following the lead of major retailers may be considered. Leaders will need to assess how customer preferences are evolving in their re-entry plans, since consumer comfort with face-to-face contact will take time to rebound. A recent Deloitte global consumer sentiment tracker of retail shopping preferences revealed that only about one-third of US consumers feel safe going to stores.17 Firm leaders should factor in these concerns in their planning, evaluating how they may impact customer service in the short term and, ultimately, engendering and maintaining brand trust. One investment management leader felt that their firm’s brand and reputation in the long run will be influenced by how they manage both employee and customer experience during this time.

Remaining flexible and agile: How can leaders piece this together?

There is no one-size-fit-all solution to re-entering workplaces. Each company will have to make decisions based on its strategy, resources, and focus area. Leaders should consider detailed scenario planning, factor in all the above-mentioned variables, and conduct cost-benefit analyses. Using an algorithm and a data-backed approach may yield more accurate forecasts and enable more informed decision-making.

Even as firms re-enter, leaders should prepare for future scenarios such as another potential stay-at-home order in case the pandemic spread resurfaces or increases. Finally, firms may even have to make it an iterative process and show agility and flexibility to learn and adapt based on the experience in the initial weeks of re-entry.

Overall, the COVID-19 pandemic has hastened the future of work across industries. Financial services firm leaders are facing the future head-on right now. Leaders should strive to find a balance between revenue and cost, while remaining committed to their organizations’ purpose and ensuring that employee and customer well-being remain top priorities.

Acknowledgments state street bank summer internship 2020

The authors wish to thank Robert Walley, Jay Bhuta, Rima Paiand the many others who provided insights and perspectives in the development of this article.

Cover image by: Alex Nabaum

Endnotes
    1. CBRE Research, 2020 US real estate market outlook, May 2020. View in article

    2. Jennifer Surane, “Capital One to keep most staff home until at least September,” Bloomberg, May 5, 2020. View in article

    3. Elizabeth Dilts Marshall, “Goldman Sachs CEO says staff back at offices in Asia, but not New York or London,” Reuters, May 6, 2020. View in article

    4. Nichola Saminather, “UPDATE 1-About 75% of Manulife China employees back in offices, CEO says,” Reuters, March 23, 2020. View in article

    5. Ibid. View in article

    6. Chubb, “COVID-19 resource center,” accessed April 29, 2020. View in article

    7. Jennifer Surane and Michelle F Davis, “Wall Street tries to figure out how to get back to the office,” Bloomberg Quint, April 27, 2020. View in article

    8. Goodwin, “Preparing for re-entry: Key considerations for returning employees to the workplace amid the COVID-19 crisis,” JD Supra, April 20, 2020. View in article

    9. Ibid. View in article

    10. Jena McGregor, “The post-pandemic workplace will hardly look like the one we left behind,” Washington Post, April 23, 2020. View in article

    11. Mark Wilson, “Our offices will never be the same after COVID-19. Here’s what they could look like,” Fast Company, April 13, 2020. View in article

    12. Nichola Saminather, “UPDATE 1-About 75% of Manulife China employees back in offices, CEO says.” Reuters, March 24, 2020. View in article

    13. Jena McGregor, “The post-pandemic workplace will hardly look like the one we left behind,” Washington Post, April 23, 2020. View in article

    14. Belinda Purkiss and Matt Leonard, “Working through COVID-19: Insights for returning to the office,” Statestreet.com, April 30, 2020; NBC Boston, “Lifting the lockdown: State Street executive talks about reopening,” NBC Boston, April 30, 2020. View in article

    15. Bryan Pietsch, “JPMorgan Chase is closing 20% of its branches and reducing staffing amid the coronavirus pandemic, but it will pay employees asked to stay home,” Business Insider, March 19, 2020. View in article

    16. Olivia Rockeman, "Bank branches use drive-thrus, limited hours to cope with virus," Bloomberg, March 18, 2020. View in article

    17. Stephen Rogers and Leon Pieters, In the throes of a dual-front crisis: Establishing the road to a global consumer recovery, Deloitte Insights, April 29, 2020. View in article

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Источник: https://www2.deloitte.com/us/en/insights/economy/covid-19/covid-19-reopening-the-workplace-in-financial-services.html
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