Careers In Superannuation: Stephen Huppert, Head Of Product Innovation, Trustee Partners

Overview of career to date

From maths teacher to partner at Deloitte, social media expert, to his new challenge as Head of Product Innovation at Trustee Partners.

How did you get your first position in the industry?

I had been teaching for about 4½ years and looking ahead could not see a great future. I did enjoy teaching but more and more time was being taken up with playing policeman and social worker. I had always been good at maths and someone I knew was connected to one of the actuaries at Colonial Mutual. After a good meeting where I heard all about the actuarial profession I thought that it sounded interesting.

I successfully applied for a job at Colonial Mutual and commenced actuarial studies by correspondence from the UK – how it was done prior to Melb Uni offering a course. It took eight years to qualify.

How have you approached your career development, what are your key learnings from your journey so far?

During the first part of my career in financial services, my only focus was on completing the actuarial qualification. Since then, it has been about going where the opportunities took me and being prepared to give things a go.

What inspired you to move on from Deloitte to join a new start up, Trustee Partners?

I had got to know the founders of Trustee Partners over a few years as they put together the business. I provided some advice along the way and thought they may be a good client for Deloitte if all went well.

About twelve months ago, they asked me if I’d like to come on board and help them create the business. It was not a straight forward decision but after discussions with my wife, mentors and close friends decided that the opportunity to be part of something new and innovative from the beginning was too good to pass by.

What does your new role involve and what are Trustee Partners plans for the year ahead?

Trustee Partners is looking to be a global provider of trustee services to manufacturers of financial services products such as superannuation/pension funds and managed investment schemes. Our focus is on providing the framework for the owners of the products to focus on their strengths: marketing, product development, distribution and so on.

Even though I have the title Head of Product Innovation, my role is varied and I pitch in wherever needed. I am involved, amongst other things, in developing strategy and the operating model, designing and developing our technology products (a key differentiator for us), and the acquisition of new business. I also spend time scanning the FinTech scene in Australia and overseas looking for interesting ideas that might be worth considering for us or our clients.

“Trustee Partners is looking to be a global provider of trustee services to manufacturers of financial services products such as superannuation/pension funds and managed investment schemes.”

Candidates we work with always appreciate career advice. If you could give one piece of advice about developing a career within the superannuation / actuarial industry what would it be?

The financial services industry is facing significant change from a range of factors including emerging technologies, changes in consumer preferences, the ageing population, and increased economic and political uncertainty. What led to success as a business, a profession or as an individual in the past will not necessarily guarantee success in the future.

Be curious – we can’t accurately predict the future but we can sense what is coming and be flexible enough to thrive in the uncertainty.

Rather than trying to be merely robust and resilient in the face of change, I like Nassim Nicholas Taleb’s (of the Black Swan fame) concept of antifragile: thriving in the volatility and uncertainty. That is something for both organisations and individuals to aspire to.

You were listed in Financial Standards 50 most influential social media leaders in finance. What is your approach to using social media?

I very much see social media as an extension of my networking and relationship management activities. I try not be someone else, hopefully people who follow me on LinkedIn and Twitter get a sense of who I am and what is important to me.

For me, social media is not just another channel to push out stuff but rather a platform to engage in conversations and be generous, curious, and have a bit of fun.

What are some of the main opportunities and challenges you see for the industry over the coming year?

I mentioned earlier some of the factors that will impact the industry. By embracing emerging technologies and changing consumer preferences, there is a real opportunity to turn the industry around to be genuinely about consumer needs rather than selling products. Most organistions say they are customer centric but have not really changed much other than the posters on the walls. Being successful in the future will need different approaches, different operating models and different attitudes to doing business.

This will create opportunities for those that embrace the change and are willing to try new things. Not all will be successful but it is from these organisations that the financial services of the future will emerge.

You are a passionate St Kilda supporter. How do think the Saints will go in 2017? As an actuary do you apply any mathematical modelling to your prediction?

Coming off a better than expected 2016, most St Kilda supporters go into 2017 with positive expectations.  The Saints are one of several teams from outside the eight that will be pushing for finals action.

There is absolutely no mathematical modelling in my approach to following St Kilda. It is all irrational and emotional. Go Saints!