Hiring for Platforms - Skill Sets?

To be financially successful, platform operators need to build cost effective, scalable systems.  At the same time, experience has shown that service is important to platform users - cost is not the only issue.  Two issues therefore predominate – design and client service – both of which require appropriate human resource.

What types of hire should a platform provider be making to ensure the success of its future operation?  The industry is relatively young in the UK, but a number of subject matter experts exist with backgrounds in platform technical design and/or operational process.  In terms of design, no two platforms are identical so it is important that a senior design architect is employed from the outset.  This particular specialist will have been largely self-taught from previous platform development projects and will be aware of the importance of a strong and adaptable core functionality.

Taking the initial design through to implementation and live operation, the following skill sets will be important when searching for resource:

• Strong analysis, communication and report writing skills, normally to be found within good BA’s

• Platform experience is desirable, but not essential – strong investment funds experience has been found to be transferable for operational roles

• Finance specialists – accounting within investment funds or similar is essential to have an understanding of data capture and reporting requirements

• CASS & Client Money knowledge will have to be hired and/or trained into the operation

• Client Service – platform experience is not essential, but institutional client facing experience is likely to be preferred.

Given the evolving nature of the sector, adaptability is key.  Client facing managers need to handle changing client requirements whilst maintaining a consistent core design.  Only in this way can platform operators fulfil the need to meet service requirements on a profitable basis.