Head of business development, Russell Investment Group

Name: Stuart Auld
Age: 49
Job title: Head of business development
Working hours: 40 hours or as required
Employer: Russell Investment Group
Pay: Industry average of $80-$120k plus bonuses.
Qualifications needed: Degree or post graduate qualifications in commerce or finance
Relevant work experience of at least 10 years in financial services industry

What do you do?

I'm responsible for promoting and selling all aspects of Russell Investment Group's investment solutions to institutional clients throughout New Zealand.

Institutional clients include community and electricity trusts, corporate superannuation schemes, local authorities and Crown entities.

To do this, I meet with existing and prospective clients to understand their business so I can advise on the best solution. Clients' needs vary hugely - an organisation such as a community trust wants to make consistent annual grants while a corporate superannuation scheme will be focussed on minimising contributions or the investment objectives of members.

Why did you choose the job?

I was initially attracted by the reputation of the company. Russell Investment Group is a global investment and consulting company and has always been seen as a market leader in the financial services industry within New Zealand.

When I investigated the role in detail, I discovered the company's culture and values were similar to those I had experienced previously and the role seemed challenging as it involved a greater range of services and a different client base than I was used to.

Russell is also a company committed to community giving and philanthropy throughout the world, which reflected my own ideals on corporate responsibility.

Why is the job important?

Because the investment advice and solutions we provide are critical to ensuring clients achieve their financial goals.

For example, we help our Community Trust clients to invest their funds wisely, particularly not having all their eggs in one basket so they can continue to support their local communities.

What's the best part of the job?

It is a buzz to see our Community Trust clients publish their list of donations as I know Russell is behind the financial result that has made the donations possible.

It is also extremely satisfying to see the returns of our superannuation scheme clients, knowing that our guidance will provide financial security to members of the superannuation scheme in 5, 10 or 20 years time.

What skills and experience do you need to do the job well?

A good knowledge of NZ financial services industry, especially funds management and financial planning, an established network and credibility within the industry and the ability to communicate with clients effectively. This includes the ability to make presentations and speak confidently in public.

What are the challenges of the job?

Being one step ahead of the competition. New Zealand's corporate investment industry has a small number of clients, but they represent a very large amount of funds under management - more than all the New Zealand retail investments combined.

This means competition is fierce with banks and fund companies hotly pursuing limited the opportunities.

It is important that I'm continually learning about the range of investment solutions and all other services offered by the company and its competitors so I can advise clients appropriately. Credibility in the market for both the company and my own personal reputation is paramount.

What are your strengths?

An outgoing personality and good communication skills - both are important when liaising with clients.

Attention to detail and problem solving skills are also important as they enable me to assess issues quickly and provide a range of effective solutions to my clients.

I'm also adept at multi-tasking, for example working with a number of different industry clients at once such as energy trusts, community trusts and corporate superannuation scheme clients.

Where would you like to be in five years?

I love what I do, so I'd still like to be assisting my clients meet their financial goals.

What advice would you give to someone wanting to get a job like yours?

Establish a good network of clients and peers within the financial services industry and learn as much as you can about your potential clients.

Believe in your own abilities - if you cannot sell yourself, you cannot sell anything.