Job Title: Stocklending Specialist
Type of Company: I work for an investment bank.
Education: BA, Sociology, Framingham State College
Previous Experience: This was my first job after college.
Job Tasks: My job is mainly to make sure all purchases and sales of stock are processed quickly. We invest our clients' money in foreign markets, so all transactions are time-critical. If there is a problem with a purchase or sale going through, I need to work with both parties to fix the it. If the buyer's request on what to buy, for example, doesn't match the seller's information, that trade won't take place.
On a typical day, my team receives hundreds of transactions we have to monitor for problems like these. They come to us by fax. We divide them by which country they are for. First we check for these transactions to "settle in the market", then we run reports to make sure we got everything. We also get hundreds of email and phone inquiries each day from clients checking on their buys or sells.
Best and Worst Parts of the Job: It is very busy. It is a challenge to remember each step necessary and to get everything done in 8 hours. There is so much information to remember that it helps to be very organized and keep notes. At the same time, when you do get everything done during your work day or if you helped resolve problems with trades, you feel like you've accomplished something. Being busy can also be a good thing because it makes the day go much faster.
Job Tips: Be driven. Keep looking for new challenges at your current job. Ask to learn more and take on more. Take in-house or on-line classes if your company offers them. We have to commit to one year in any new position at my company. Keep moving once your year is up. The people who are confident in their abilities have moved up the ladder very quickly by not staying in one place for too long and always looking for new challenges.
Additional Thoughts: It has surprised my how much has changed for the better in 10 years. We are busy now, but technical improvements have helped so much since I first began. I'm surprised I'm still here after 10 years. I never thought I'd catch on, since I had never worked in the financial industry before this job. It is interesting to learn about and it has given me a little better understanding of the world economy.
If I could change anything, I would have moved around more. I got comfortable where I am and haven't left. On the other hand, the seniority has helped with childcare. Confidence and challenging yourself are probably the more important personal qualities for success in the financial industry.
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