How to Succeed in New Job - Insurance AM
I am starting a new position in a CIO Office at a Life Co. I spent 2.5 years in operations after graduating from a non-target school. It took a lot to make it out of the back office to be honest. I took CFA Level 1 two times, passing on the second. I networked with a lot of people internally. I applied to another role six months ago and was rejected. I could feel myself becoming complacent in operations, the hours and the pay are honestly not bad. But when another opportunity arose, I knew I had to give it another shot and it worked out.
I am starting within the next few weeks, and a lot of the stuff I've heard in introductory meetings sounds like gibberish to me. You really don't appreciate the depth of finance until you start a niche job, and your degree or CFA L1 all of the sudden barely scratches the surface of what you're hearing.
We have all in-house investment management, largely invested in fixed income, with also some private credit and real estate. I will be on the portfolio management team, working under a portfolio manager. I'll be interacting with traders and a credit research analysts on a daily basis.
What is the best way I can get caught up to speed without looking like a total ass? What are ways I can show I am working hard and learning quickly? They want me to prove myself with this opportunity, and that's exactly my plan.
To succeed in your new role in the CIO Office at a Life Co., here’s a roadmap based on the most helpful WSO content:
Understand the Basics of Fixed Income and Asset Classes: Since your firm is heavily invested in fixed income, private credit, and real estate, focus on mastering these areas. Review key concepts like bond pricing, duration, convexity, credit spreads, and yield curves. For private credit and real estate, familiarize yourself with underwriting basics, risk assessment, and valuation techniques.
Leverage Internal Resources: Build relationships with the credit research analysts and traders you'll be interacting with. Ask thoughtful questions and show genuine curiosity. People often appreciate teaching someone who is eager to learn. Be respectful of their time and come prepared with specific questions.
Study the Portfolio: Dive into the portfolio you’ll be managing. Understand the allocation, risk metrics, and performance drivers. If you have access to past reports or presentations, review them to get a sense of the team's strategy and decision-making process.
Learn the Jargon: Finance roles, especially niche ones, come with their own language. Create a glossary of terms you hear in meetings and research them. This will help you follow conversations and contribute meaningfully.
Show Initiative: Volunteer for tasks, even if they seem small. Whether it’s preparing a report, updating a model, or analyzing a specific investment, showing that you’re proactive will earn you respect.
Be a Sponge: Attend every meeting, read every report, and listen to every conversation you can. Even if it feels overwhelming, exposure will accelerate your learning curve.
Communicate Effectively: As highlighted in WSO threads, concise and clear communication is key. When you don’t understand something, don’t be afraid to ask for clarification, but frame it in a way that shows you’ve done some homework (e.g., “I understand X, but could you explain how Y fits into the strategy?”).
Practice Modeling and Analysis: If your role involves modeling, practice building and analyzing models for fixed income and other asset classes. Time yourself to improve efficiency, as suggested in WSO’s PE recruiting advice.
Network Internally: Get to know your team and other departments. Building relationships will help you understand the bigger picture and make you a more effective team member.
Stay Humble and Resilient: It’s okay to feel out of your depth initially. Acknowledge what you don’t know, but show that you’re committed to learning. Resilience and a positive attitude will go a long way.
By following these steps, you’ll demonstrate your dedication, adaptability, and eagerness to grow in your new role. Good luck!
Sources: Q&A: Managing Director at Large Global Asset Manager, HF to PE post-MBA - my story and seeking advice (long-time poster)!, Year 1 in consulting - tips, tricks, advice, and unspoken rules., Roadmap for IBD Coverage Associate to Career Banker, Roadmap for IBD Coverage Associate to Career Banker
1.) in terms of you adding value/working hard: a.) make sure your excel and any other quantitative skills are up to speed (Python, R, VBA etc) as automating reports/creating dashboards etc. is probably the best way to add value early; b.) a less quantitative thing you could do is write market recaps/summarize internal trades/research notes; c.) make sure you take all the courses/trainings/ask to learn the internal systems like the back of your hand (Aladdin/Bloomberg etc) so you know risk exposures etc
2.) in terms of getting up to speed no one expects you to know much day 1, but it's about where you are in 6, 12, 24 months etc so a.) always write/type up everything anyone says...if it sounds easy and google-able use that but if not ask but only once (don't make the same mistake twice); b.) take advantage to sit down with a trader, credit analyst, macro strat, PM, insurance investment expert for 30 mins when market is quiet and learn what they do; c.) go back and google and learn what you don't know- for credit analysis tons of financial modeling books; for macro track 10 year/gold/S&P/Oil/US $/US growth/US inflation/Fed policy and see how they react and read the street commentary; for insurance knowledge gotta ask your senior; for trading google online guides for how it works; for PM learn from your boss
good luck- you made a hard switch!
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