Mortgage servicing companies and related businesses have worked to offer better diversity in their companies for many years, but those efforts came into even more focus in 2020 following months of protests and a renewed societal focus on questions of equality and how to move past lingering legacies of racism. 

 The diversity movement strives to eliminate the glass ceiling minorities and women have faced for years, seeking both to offer greater opportunities within the servicing industry and to promote a stronger sense of inclusion for those who join the fold. 

“Diversity is still a work in progress,” said Ulysses Smith, Head of Diversity, Inclusion, and Belonging for Blend. “Many communities have been left behind.” 

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Read the full article at: dsnews.com

There are three areas of skills you need to develop if you want to be a good Chief Financial Officer or Finance business partner – business acumen, technical skills and behavioural skills.

And my intention is to unpack these three areas a little bit, so that you can get to grips with planning your development journey more effectively.

In my last article I shared my belief that Finance business partner is the new best route to a CFO role. That is to say, core CFO skills are Finance business partnering skills. And well-developed Finance business partnering skills are what you need to be a CFO.

That’s why I’m talking about the two together, and why I believe that if your ambition is to be a CFO, you ought to be thinking about the same areas of skill that Finance business partners need.

Read the full article at: www.superchargedfinance.com

Recruiting today looks radically different than it did just a year ago. Accelerated by COVID-19 and the movement for racial justice, changes that were expected to take years are happening instead in months. Virtually recruiting remote workers is the new norm for many. Internal mobility and upskilling programs are being built out, many for the first time. Diversity is finally being treated with the urgency and accountability it always deserved.

To help you manage these changes and get ahead of what’s coming next, we’re making six bold predictions about the future of recruiting. These predictions distill what we learned from a survey of over 1,500 talent professionals, exclusive data points from the LinkedIn platform, and in-depth interviews with talent leaders around the world.

Read the full article at: business.linkedin.com

What better way to understand a typical corporate finance career path than to hear from a professional who has been there and done that?

Nicolas was a Financial Analyst at General Electric where he explored the world of Corporate Finance. He is now a CFO and Partner at Wild is the Game.

You’re sitting in front of your computer reading your 102nd rejection email:

“Thanks for your interest, but we have already hired for this position.”

You start to feel desperate, when out of the blue a friend calls. “If you’re in interested in a corporate finance career, I have an opening for you at a Fortune 500 company for an Analyst position. What do you say?”

Read the full article at: www.mergersandinquisitions.com

Coronavirus achieved what the Second World War failed to do: the closure (albeit temporary) of Harrods of London, the largest luxury store in the world. As a symbol of the pandemic’s impact on the luxury market, it was a powerful one.

Geographically, the crisis hit the sector hard: it started in China, a country whose citizens accounted for 90% of industry growth in 2019, and quickly spread to Italy where many luxury brands are headquartered or have key suppliers.

In 2019, the global market for personal luxury goods was worth about $310 billion, compared to $128 billion in 2000. Now, analysts predict the sector to contract by about 35% in 2020. Immediate headwinds include:

• Falling GDP and employment – inhibiting consumer spending power
• Volatile financial markets – undermining consumer confidence
• Travel restrictions – reducing the number of tourists who are a key driver of luxury spending

However, beyond the current turmoil, the broader outlook for the luxury sector remains positive, with three key trends defining the future

Read the full article at: obaninternational.com

In the world of online retail, there are numerous trends to keep an eye on. Some of them we’ve already mentioned on the Styla blog before: it’s a tight focus on selectively chosen KPIs, an increase in mobile users, the rise of social media, the growing popularity of shoppable content… There’s another trend, however, that is completely transforming the way people buy fashion online – the growing accessibility of luxury fashion across all consumer segments. Luxury is no longer exclusive to the super-rich. In fact, it is being rapidly democratised, and the very meaning of the word “luxury" is being re-defined as we speak.

Brief history of luxury fashion 

Back in the day, it was conventionally perceived that only lower and/or middle range products could be sold online. For a long while, when E-Commerce was already booming, high-fashion was staying out of it. There was a stubborn, pervasive belief that luxury shoppers, with their indulgent, flamboyant taste and weakness for high-priced goods, would never buy expensive things online. Instead, they’d opt for traditional brick-and-mortar stores, pursuing the tactile shopping experience and personalised customer service — something that the luxury shoppers were assumed to be always longing for.

This thinking has drastically changed in recent years.

Read the full article at: blog.styla.com

The trials of 2020 have thrust human resources into the spotlight. The HR leaders who have shined know how to help their companies thrive.

For all the ambiguity caused by the historic events of 2020, one thing is certain: The center of gravity in leadership teams has swung toward the human resources function. Yes, other members of the C-suite, such as finance, marketing, and legal, also have important functional responsibilities that keep the company in full stride. But there’s one person who is being put on the spot to answer the many unexpected questions that companies are facing this year.

These questions are fundamental to the business. Some may be existential. How do companies keep everyone safe as they shift to remote working overnight? How do leaders provide medical, emotional, and mental health support at a distance? How do they gauge performance and develop talent so that people can thrive in this era of uncertainty?

Read the full article at: www.strategy-business.com

As I’m sure most people are aware, the current job market is a strange and difficult field to navigate.  When I graduated in May of this year, I knew it was going to be a lengthy and difficult process to find employment in what I had majored in — Communications.  This, coupled with the fact that I graduated abroad and would be moving back to the States (in the middle of a pandemic), left me with a mixture of pessimism and imposter syndrome when entering the U.S. job market.  These concerns prepared me for the inevitable let-downs of being a recent grad trying to break into my field of study.  However, what I was naively unaware of was the amount of scamming and unethical hiring practices that occur in the online job-hunting space.

The Financial Information Phishers

Leading up to graduating and the inevitable job search, I was diligent in listing my resume on all possible job websites.  This is a basic and important thing to do, but it doesn’t come without all the negative side effects of the internet. In publicly listing your resume and contact information, it opens the door to be contacted by anyone – legitimate or otherwise. Initially, I was optimistic about having my skills publicly searchable online, and I even received some genuine inquiries. However, it didn’t take long before the less reputable sides of the web crept into my inbox.

The first example of a “scam job” I encountered was blatantly dubious from the get-go.  I received a text message from a number I didn’t recognize, claiming to be the “Administrator Recruitment Secretary” of a well-known brokerage firm in New York City.  This message claimed that their human resources team had reviewed my resume, and would like to schedule an interview in regards to a translation position in their accounting department.  A cold contact like this via text would set off alarm bells in anyone’s mind, but given my lack of optimism on job prospects, I decided to play along and see what the deal was.  I agreed to the interview and was told I’d be contacted by an HR Coordinator via Skype.  This “HR Coordinator” did reach out to me via Skype, using the name of one of the executives of this firm.  I nearly laughed my laptop off my lap when I realized this. I may be just entering into the corporate world, but what brokerage firm executive would be handling HR recruiting?  At this point, I knew I was in for a real comedic chat. This person then proceeded to give a vague job description, and sent me an email with a “contract of employment” attached.  This email sought information such as previous employers, a copy of a driver’s license or ID, and social security number.  This obviously cemented the fact that this is just a phishing scam, and I quickly reported them to the job listing site and the firm they were impersonating.

Read the full article at: thefinancialdiet.com

In the wake of the COVID-19 pandemic, both individuals and organizations have been going through trying times. Today, leaders are presented with new challenges as well as opportunities to strengthen their teams.

In 2020, with new norms emerging post-COVID-19, the world saw the rise of WFH culture. As with anything new, change is not so easy. New norms have added to the stress, affected team morale, and cohesion. Now, there are two major challenges for any leader, i.e. helping the team in making a smooth transition to the WFH model and taking care of their health and well being. So, if you are also facing this challenge, here’s are some tips using which you can support your team through a crisis.

Stay connected with your team

Interact with your team regularly to ensure that you establish ongoing communication where the team is updated on the company’s developments and their progress to keep them motivated and productive. A five-minute zoom call can keep your team focused and well-informed about their responsibilities.

Read the full article at: www.financialexpress.com

A public outcry for racial equity and inclusion has amplified the steady drumbeat of calls for banks to diversify their leadership, starting in the boardroom.

“It is very hard for anyone to argue that you cannot find diverse candidates these days. They’re out there,” says Alexander Lowry, a professor of finance at Gordon College in Wenham, Massachusetts, who hosts a podcast series called Boardroom Bound.

At the same time, a nationwide conversation about unconscious bias is underway, and directors are not exempt. “In times such as these, directors must think about the prevailing and pervasive risks their organizations face,” says Kevin Wright, managing partner and CEO of Aeriis Insights Group, a consulting firm specializing in diversity, inclusion and outcomes services.

Read the full article at: bankingjournal.aba.com

Over the years, with more and more consumers increasing purchasing power and accepting their zest to shop luxury items, the entire industry has witnessed a mammoth change. Aspirational buyers have turned into regular consumers thus ensuring an increase in the consumer base for globally. However, with the current situation and lockdown being witnessed PAN India and globally, few sectors of the luxury segment that were yet to venture into the e-commerce segment, have seen their peers see an increase in sales. This has been true in the initial COVID 19 announcement day as during times of distress people do resort to shopping as a therapy and as a way of staying positive.

However, with PAN India lockdown even though e-commerce segment have witnessed an upsurge in their sales the luxury market is witnessing a little set back as consumers are prioritising necessary goods as per government guidelines. Globally some of the companies are going ahead and even creating jobs for their countrymen, to work as delivery guys in the time of COVID-19.

Read the full article at: www.indianretailer.com

The luxury retail segment is experiencing a transformation and with that comes a slew of myths, according to research conducted by the Luxury Institute and its Global Luxury Expert Network.

The organization has identified 12 myths — what it it also views as top obstacles — to high performance retail this year:

1. Time is the ultimate luxury. The reality is that a high return on invested time is the true ultimate luxury. Most luxury brands today are trying to emulate Amazon in efficiency, and fast delivery tactics are important. However, those are expected commodities. What luxury clients require is an extraordinary experience when they invest their precious time, whether online, in a store, at a spa, or restaurant.

Read the full article at: www.retailcustomerexperience.com

Not long ago, 24 “anti-laws” of marketing detailed principles — like “forget about positioning,” “make it difficult for clients to buy,” and “do not sell openly on the internet” — that counterintuitively helped luxury brands set themselves apart and command high prices.

Then, in June 2017, LVMH (a French conglomerate that owns luxury brands like Louis Vuitton, Moët & Chandon, Christian Dior, and more) launched their multi-brand ecommerce website. And that seemed to put the final nail in the coffin of the traditional marketing strategies that governed the luxury retail experience.

Technology has changed everything. Today, most retailers are living on the same plane — the digital plane. The plane where ecommerce giants like Amazon have taught consumers that they can get pretty much anything worth wanting quickly and for a competitive price. The plane where a great digital retail experience is the norm.

Here’s how the times are changing for luxury retailers, and strategies that decision-makers in the luxury retail space can implement to translate their unique brand into a digital format. 

Read the full article at: www.contentstack.com

You’ve no doubt heard this old expression more times than you can count: “If you find yourself in a hole, stop digging.”

Sure, OK. But what if you don’t realize you’re in a hole in the first place? In other words, what if your hiring practices—as an example—are actually missing the mark when it comes to bringing in the type of people who will help your organization soar? Even worse, what if they’re bringing in people who are doing just the opposite?

Judging by a recent survey, many companies aren’t tracking the quality of their new hires at all. In many cases, the survey finds, it’s because they don’t know where to start.

Read the full article at: hrexecutive.com

Every generation has a problem with the next generation of music — for the most part. Ongoing arguments still exist about which type of music is the best. To me, like waxing an old Camaro makes it shine, new technology makes the music I like brand new.

Nobody’s opinion is right. No championship belt exists. The debate is always worth hashing out, as it helps us connect with others. And in my family, it brings about lively discussions.  

My sons, who are 25 and 22, appreciate my “old” music. However, when they were growing up, they couldn’t wait to listen to their music. They were also like me: As grown-ups, they appreciate the music they heard as teens. My youngest buy vinyl records, and he practices guitar using the older songs. His first purchases were “Pet Sounds” by the Beach Boys, “White Album” by the Beatles, and “Rumors” by Fleetwood Mac. He made them on his own and without my encouragement. 

One thing they would always joke about: My music was old, therefore I was old. It was playfully antagonistic. Even as they appreciated what I listened to, it wasn’t their first or second choice. 

Similarly, there are ways older workers present themselves to online employers and recruiters consider as “too old.” There are some things you can do online that will attract employers, entice recruiters, and intrigue referrers. 

Read the full article at: thefinancialdiet.com

A career in finance is one that is highly sort after and as such it is important that you are able to set yourself apart from the crowd. Below you will find our top tips for helping you stay one step ahead of the competition.

From our research we have discovered that employers within the financial industry are looking for candidates who’ve mastered “soft skills”. What are soft skills you say? Soft skills mean simply having the capability to communicate well and translate industry jargon – something that a financial services course will help you achieve.

Get networking
It goes without saying really… the more contacts you have within the finance industry the easier it will be for you when it comes to getting a job. As specialist jobs are no longer advertised via traditional methods, i.e. a newspapers like back in the olden days, sometimes it can be difficult to find that dream job. One of the best way to locate them is through networking. Not only will networking help you land a job but will hopefully mean your first job is in an industry you love and includes the responsibilities you want. We highly recommend that you attend industry related events, join industry organisations and also frequently check social media – LinkedIn is quickly becoming one of the top places to connect with organisations.

Read the full article at: blogs.coventry.ac.uk