Leaders in Superannuation, Stuart Hill – Head of Investment Operations, Active Super
Brief overview of your career to date. How did you get your first position in the industry?
When I completed my degree (politics with economics) I had a few months off as I adapted to the ‘real world!’ My first role was on a Graduate Program at Charles Stanley Stockbrokers in the City of London. After two years there – which included the dot com bubble bursting and 9/11 – and having worked across a number of areas within the business, I decided to take some off and travel to Australia. Initially, it was going to be just for a year but 19 years later here I still am!
As I was on initially a working holiday visa I could only work for short periods of time at the same company. My first role in Australia was in an operational capacity at ABN AMRO. I then moved to ING for a similar amount of time (three months was the max back then).
In 2003 I landed a role with BNP Paribas (Custody) which coincided me getting a 457 visa. My first role at BNP Paribas was as an operations analyst (essentially data input) within the Unit Trust Team. Over the following years I moved up within the team until I became Manager of the team in 2007. A year later I was offered a transfer to the Glasgow Office (Middle Office – non-custody) to manage and set up a settlements team of 12 from scratch as all the roles were transferring from London and nobody was making the move to Scotland.
After a couple of years in the role (some time of which was spent in the Chennai Office) I moved into a Lean Six Sigma Project Manager role.
I decided to move back to Australia in 2011. I joined Active Super (then known as Local Government Super) in 2012 as the Investment Operations Manager as the trustee wanted to insource this function from the administrator. Again, part of my role was to set up a team from the ground up.
Can you provide an overview of your current position at Active Super?
I am currently the Head of Investment Operations and I have been with the company for over nine years. At a high level, my main goals and objectives are to provide the best outcomes for our members by driving strategic initiatives. One such example is the recent implementation of our investment data management solution. Being a high-risk area, I have to ensure that the requisite governance models are in place, adhered to, reviewed and reported on.
Maintaining and developing, along with managing Active Super’s relationships with out key service providers such our custodian, administrator, tax agent and external auditor are also key elements to my role and responsibilities.
Ensuring that the BAU activities, some examples being cash forecasting, providing our CIO with daily asset allocation reporting, validating unit prices and completing regulatory reporting (RG 97, APRA etc.) are also key.
Last, but by no means least, ensuring my team are provided with the requisite training and career development opportunities.
You have worked in Investment Operations for several years now. What are some of the main opportunities and challenges you see for the industry over the coming year?
One of the things I love about working in Investment Operations, and especially at Active Super, is the ability to build and own your pathway forward. Opportunities most definitely include utilizing tools in order to make the data work for you and not the other way round. There is a lot of work upfront to reach this stage but the long terms fruits are well worth it.
In terms of challenges, the never-ending increase in the volume and complexity of regulatory reporting across the Industry. Being able to efficiently manage and support increasingly complex investment products also.
What is unique about Active Super as a Superannuation Fund?
There are a few areas I could talk to but I will focus on our responsible investment philosophy, which began in 2001 when we became the first super fund to not invest in any tobacco related assets. We use various active ownership strategies to apply pressure or support such as company engagement, proxy voting, divestment and industry collaboration. We are one of only five super funds to be certified carbon neutral. Our responsible investments have also generated outstanding performance returns for our members.
What do you believe are the attributes that make a successful Investment Operations professional?
- Being an ‘efficient perfectionist’;
- Open to new challenges and embracing change;
- Maintaining and building strong relationships with both internal and external stakeholders;
- Keeping an open mind and being solution driven.
If you could give one piece of advice about developing a career within Investment Operations in Funds Management Industry, what would it be?
Be prepared to work hard but the opportunities and wide range of skills you will obtain is well worth the journey and effort.
Kaizen Recruitment specialises financial services recruitment across funds management, wealth management, superannuation, investment consulting and insurance. We are based in Melbourne and Sydney. For assistance or further information please telephone our office at +61 3 9095 7157 or submit an online form.
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