Have an interview as a VP of Transformation for a bank (not IB) next week. I have limited experience in financial services - any articles / books I should read to understand the industry?

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Just keep saying blockchain in every sentence

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The wolf of wall street

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Left consulting as M, went to a bank as a SVP for a year, then CIO.

likeuplifting

It is complicated. You can learn how the fed overnight rate and lending work, which is the basic building block of the banking system and explains how banks make money. You should definitely read their annual report if they are public, and if they are not, read JPMC’s MD&A in their annual report. Beyond that I’m not sure it will help

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“From Front Office Consulting Stud to Back Office Operations Loser” by EveryBigFiveFinancialServicesConsultant

likefunny

Understand the current and upcoming regulations that will drive change.

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I exited to industry last year but culturally identify as a consultant.

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The big craze is digital transformation. Read some articles from the Microsoft financial services thread and learn about banks using SaaS providers.

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How did you get so far in the process without knowing FS?

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Retail bank, commercial bank, investment bank. Understand the difference and then look into that specific sector. If you're doing tech transformation, they're all going to be different. If you're doing general process transformation, understand their products (buy side, sell side, transactional middleman)

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My people skills?

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M to SVP is a good move. Are you CIO in same bank?

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Some Ms here have 20+ years of industry experience while others are complaining about the new tier for SMs

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I made M in 3 years and was in grade for 3 years (1 at that bank) before hopping over. I changed industry for CIO.

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Liars Poker

Read When Genius Failed, The Big Short, Boomerang and Den of Thieves, then rethink your career path. /s

Did I see you on /r/consulting...?

^ Double my pay though :) And thanks everyone. Looks like I have some Thursday reading materials.

How are they planning to double your pay when you don’t have any fin backgnd?

How much of that double is that discretionary bonus that a VP of Transformation would be expected to sacrifice as step 1 of the transformation for getting the people skills points? Don’t forget to read industry analyst reports on what the street thinks about this bank.

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