Accenture Technology Vision for Industrial 2016accenture
New technologies are not just transforming how industrial companies manufacture their products. They are also having a profound impact on workforce and marketplace dynamics, creating new pathways for collaboration – amongst people, machines and organizations. Increasingly, companies’ destinies will be defined by how successfully they use digital to reorient their workforces, enable collaboration and both anticipate and drive disruption.
The New World of As a Service - Infographicaccenture
The market is moving toward an As-a-Service delivery model that provides plug-in, scalable, consumption-based business services that deliver the business outcomes that every organization demands—increased revenue or decreased costs.
Accenture’s 2014 High Performance Finance Research shows that CFOs are concentrating on cost-effectively serving a worldwide consumer base while reducing operational spend.
For more information view us on www.accenture.com/ConsumerGoods
What Does Good Risk Culture Actually Look Like?accenture
At RiskMinds International 2015, Rafael Gomes presented "What Does Good Risk Culture Actually Look Like?" and addressed risk culture and conduct in practice. Get more information from Rafael’s blog post, which describes how financial services can recognize, measure, and communicate good risk culture: http://bit.ly/1RFBrzF
Accenture 2015 Global Risk Management Study: Banking Report Key Findings and ...accenture
Accenture’s 2015 Global Risk Management Study: Banking Report provides the insights of 150 banking executives involved in the risk function. See the attached presentation for details of how the risk function in banking is repositioning itself to be a collaborative business partner. Visit www.accenture.com/riskstudy2015 to learn more.
Accenture Technology Vision for Industrial 2016accenture
New technologies are not just transforming how industrial companies manufacture their products. They are also having a profound impact on workforce and marketplace dynamics, creating new pathways for collaboration – amongst people, machines and organizations. Increasingly, companies’ destinies will be defined by how successfully they use digital to reorient their workforces, enable collaboration and both anticipate and drive disruption.
The New World of As a Service - Infographicaccenture
The market is moving toward an As-a-Service delivery model that provides plug-in, scalable, consumption-based business services that deliver the business outcomes that every organization demands—increased revenue or decreased costs.
Accenture’s 2014 High Performance Finance Research shows that CFOs are concentrating on cost-effectively serving a worldwide consumer base while reducing operational spend.
For more information view us on www.accenture.com/ConsumerGoods
What Does Good Risk Culture Actually Look Like?accenture
At RiskMinds International 2015, Rafael Gomes presented "What Does Good Risk Culture Actually Look Like?" and addressed risk culture and conduct in practice. Get more information from Rafael’s blog post, which describes how financial services can recognize, measure, and communicate good risk culture: http://bit.ly/1RFBrzF
Accenture 2015 Global Risk Management Study: Banking Report Key Findings and ...accenture
Accenture’s 2015 Global Risk Management Study: Banking Report provides the insights of 150 banking executives involved in the risk function. See the attached presentation for details of how the risk function in banking is repositioning itself to be a collaborative business partner. Visit www.accenture.com/riskstudy2015 to learn more.
Ecosystem Collaboration - New Engines for Growth and Competitiveness in the D...accenture
Please visit: www.accenture.com/EcosystemCollaboration. Not too long ago, playing fields used to be neat. Bordered. Companies stayed within their industry lines, rarely venturing outside of them. But digital technology has changed all that, lowering entry and exit barriers to digitally contestable markets.
The increased complexity and potential of markets like these is requiring companies to make and execute corporate strategy differently. Welcome to a new age of competitiveness. Welcome to the age of the ecosystem.
The challenges facing today’s compliance function are more varied and, in some cases, more severe than they were in the past. Accenture’s road map outlines not only the top challenges facing compliance officers, but illustrates what help is available for the compliance function. Visit http://bit.ly/1URw335 for latest thinking and more.
Smart Move: Intelligent Technologies Make Their Mark on Public Serviceaccenture
Intelligent technologies have the potential to play a transformative role in enabling public service agencies to meet their key challenges. Our research highlights specific objectives attached to intelligent technology adoption and suggests that meeting these is within agencies’ grasp.
Accenture 2015 Global Risk Management Study: North American Banking Report Ke...accenture
Accenture’s 2015 Global Risk Management Study: North American Banking Report provides the insights of 50 banking industry executives from the retail, corporate, mortgage and card banking areas, including in-depth qualitative interviews with senior banking executives. Among the findings are three key challenges facing banks and their risk management functions today. See the attached presentation for more on the report's findings and insights. Visit www.accenture.com/riskstudy2015 to learn more.
Not your Father’s Business Model – Competitiveness in the Age of Digitalaccenture
Please visit: www.accenture.com/CompetitivenessInDigital. This is not your father’s business model. Back then, products and services enjoyed long, illustrious reign in the marketplace. Now, they appear and disappear overnight. That’s because digital is reshaping business models and driving industry convergence while market cycles are shrinking from years to months to weeks.
How can companies survive these new waters and create long-term competitive advantage?
Addressing Sales Practice and Conduct Risk in the Canadian Marketaccenture
In this new Accenture Finance & Risk presentation we discuss how Accenture can help Canadian banks effectively manage their reputation and conduct risk challenges. Learn more: https://accntu.re/2NHfWp2
Accenture 2015 Global Structural Reform Studyaccenture
Accenture’s 2015 Global Structural Reform Study – based on a survey of 131 banking, insurance and capital markets institutions across regions – confirms that, while institutions are investing in their response to Global Structural Reform (GSR), their plans still appear focused on meeting regulatory demands alone, rather than accounting for the more strategic implications of structural reform.
Highlights from the study's conclusions include:
- GSR is re-writing the financial services landscape
- Investment is clear, but strategy less so
- Three suggested principles for unlocking the potential of GSR
Download the report and visit https://www.accenture.com/accenture-2015-global-structural-reform-study.aspx to learn more.
Automation, analytics and talent are driving greater value in today’s BPO. In this year’s High Performance BPO Report, we examine what the leaders are doing to drive greater value from their BPO relationships.
Unlocking the True Benefit of Software Defined Networkingaccenture
Accenture has the industry expertise, digital insight, technology experience, ecosystem partners and end-to-end solutions to help build your next-generation network.
Business disruption is a growing challenge for all industries. See how your industry could be affected by disruption with Accenture's disruptability index.
A data monetization framework from Accenture Interactive. Three questions your company should answer to start realizing revenue opportunities from your data.
Lower barriers to entry and the rise of ecosystems and integrated value chains are eroding organizational boundaries and spurring convergence. Automation, the need for digital skills, demographic shifts and globalization are upending labor supply and demand. The future is in flux.
Advances in talent analytics are finally allowing workforce planning to become as dynamic as this environment. Prescriptive analytics tools help organizations go beyond describing “what is happening now” or “what might happen in the future” to control “what should happen.”
Scenario-based strategic workforce planning is a digital playground for the business to constantly optimize workforce choices—testing, learning and tweaking across dimensions and futures—to deliver the business strategy.
Financial Services Employer Branding Research - Blu IvyBluIvy
The latest employer brand research from thousands of survey respondents in the Financial Services sector. Conducted by the leading employer branding agency, Blu Ivy.
Ecosystem Collaboration - New Engines for Growth and Competitiveness in the D...accenture
Please visit: www.accenture.com/EcosystemCollaboration. Not too long ago, playing fields used to be neat. Bordered. Companies stayed within their industry lines, rarely venturing outside of them. But digital technology has changed all that, lowering entry and exit barriers to digitally contestable markets.
The increased complexity and potential of markets like these is requiring companies to make and execute corporate strategy differently. Welcome to a new age of competitiveness. Welcome to the age of the ecosystem.
The challenges facing today’s compliance function are more varied and, in some cases, more severe than they were in the past. Accenture’s road map outlines not only the top challenges facing compliance officers, but illustrates what help is available for the compliance function. Visit http://bit.ly/1URw335 for latest thinking and more.
Smart Move: Intelligent Technologies Make Their Mark on Public Serviceaccenture
Intelligent technologies have the potential to play a transformative role in enabling public service agencies to meet their key challenges. Our research highlights specific objectives attached to intelligent technology adoption and suggests that meeting these is within agencies’ grasp.
Accenture 2015 Global Risk Management Study: North American Banking Report Ke...accenture
Accenture’s 2015 Global Risk Management Study: North American Banking Report provides the insights of 50 banking industry executives from the retail, corporate, mortgage and card banking areas, including in-depth qualitative interviews with senior banking executives. Among the findings are three key challenges facing banks and their risk management functions today. See the attached presentation for more on the report's findings and insights. Visit www.accenture.com/riskstudy2015 to learn more.
Not your Father’s Business Model – Competitiveness in the Age of Digitalaccenture
Please visit: www.accenture.com/CompetitivenessInDigital. This is not your father’s business model. Back then, products and services enjoyed long, illustrious reign in the marketplace. Now, they appear and disappear overnight. That’s because digital is reshaping business models and driving industry convergence while market cycles are shrinking from years to months to weeks.
How can companies survive these new waters and create long-term competitive advantage?
Addressing Sales Practice and Conduct Risk in the Canadian Marketaccenture
In this new Accenture Finance & Risk presentation we discuss how Accenture can help Canadian banks effectively manage their reputation and conduct risk challenges. Learn more: https://accntu.re/2NHfWp2
Accenture 2015 Global Structural Reform Studyaccenture
Accenture’s 2015 Global Structural Reform Study – based on a survey of 131 banking, insurance and capital markets institutions across regions – confirms that, while institutions are investing in their response to Global Structural Reform (GSR), their plans still appear focused on meeting regulatory demands alone, rather than accounting for the more strategic implications of structural reform.
Highlights from the study's conclusions include:
- GSR is re-writing the financial services landscape
- Investment is clear, but strategy less so
- Three suggested principles for unlocking the potential of GSR
Download the report and visit https://www.accenture.com/accenture-2015-global-structural-reform-study.aspx to learn more.
Automation, analytics and talent are driving greater value in today’s BPO. In this year’s High Performance BPO Report, we examine what the leaders are doing to drive greater value from their BPO relationships.
Unlocking the True Benefit of Software Defined Networkingaccenture
Accenture has the industry expertise, digital insight, technology experience, ecosystem partners and end-to-end solutions to help build your next-generation network.
Business disruption is a growing challenge for all industries. See how your industry could be affected by disruption with Accenture's disruptability index.
A data monetization framework from Accenture Interactive. Three questions your company should answer to start realizing revenue opportunities from your data.
Lower barriers to entry and the rise of ecosystems and integrated value chains are eroding organizational boundaries and spurring convergence. Automation, the need for digital skills, demographic shifts and globalization are upending labor supply and demand. The future is in flux.
Advances in talent analytics are finally allowing workforce planning to become as dynamic as this environment. Prescriptive analytics tools help organizations go beyond describing “what is happening now” or “what might happen in the future” to control “what should happen.”
Scenario-based strategic workforce planning is a digital playground for the business to constantly optimize workforce choices—testing, learning and tweaking across dimensions and futures—to deliver the business strategy.
Financial Services Employer Branding Research - Blu IvyBluIvy
The latest employer brand research from thousands of survey respondents in the Financial Services sector. Conducted by the leading employer branding agency, Blu Ivy.
The Future of HR in Europe. Key Challenges Through 2015.Sage HR
Businesses that expect to succeed in Europe in the next few years will have to come to grips with some serious challenges related not to raw materials, manufacturing processes, or the evolving nature of trade in the Eurozone, but with a host of issues related to how they recruit and manage staff.
The more specialized the staff, the more important these HR-type issues are. At least that’s the conclusion of a report by the Boston Consulting Group titled The Future of HR in Europe: Key Challenges Through 2015.
More specifically, the report asserts that five elements of HR are critical to organizations’ futures, and further notes that most organizations surveyed for the report acknowledged that they are currently weak in those areas.
These five elements are all components of workforce management: managing talent, demographics, work-life balance, and change, as well as becoming a learning organization. The rapid globalization of the economy and work may highlight these challenges today, but to my recollection, they’ve always been critical to an enterprise’s success.
FOR MORE VISIT HR BLOG -> cake.hr/blog
55 Experts discuss simple methods to overcome skill shortagesmaziarforoudian1
In this episode of let's talk, 55 Australia's leading executives share ideas on how we can alleviate the pressures of the skills shortage.
Helpful tips were shared across the board, touching on areas of culture, secondments, a clear vision, outsourcing, upskilling and many more insights that can help when talent is scarce.
Business Models: Six recommendations to enable business model innovation in t...melnorman
Advances in technology have disrupted the creative marketplace. What customers value and will pay for has changed and companies who don’t evaluate their existing business models risk losing their relevance.
There is a lot of discussion around reinventing ‘business models’ and ‘strategy’ but there is a lack of clarity about what this means and even less about how to apply it.
So how does this impact the creative industries, which have undergone more change than most sectors over the last 10 years?
The part time Business Model Theme Champion role, funded by and on behalf of the Creative Industries KTN, focused on transferring current business model practice to the creative industries, using that to shape and inform business model innovation and examine how businesses can better articulate new and emergent business models.
This document is not meant as a scientific document or academic paper but a combination of a summary of my learnings from both my year’s tenure, as well as the thoughts and experiences from those who kindly attended workshops and roundtables or were consulted as experts or as leading companies in their field. My intention is to start a conversation around business model innovation in the creative and digital sectors and for the recommendations to be explored further.
Freedom Communications - How to build a pipeline of industry talentFreedom Communications
Freedom Communications' feature in Comms Dealer Magazine June 2016, discussing the topic of how Freedom have built their talent pipeline with skills development and apprenticeship schemes.
InstructionsWrite a paper about the International Monetary Syste.docxvanesaburnand
Instructions
Write a paper about the International Monetary System that addresses each of the following issues:
· Define the International Monetary System and outline the history of the system.
· Describe and provide examples of what is meant by “currency regimes,” and define selected types of regimes and form an argument for selecting fixed exchange rate and arguments for selecting flexible exchange rates.
· Describe and define the creation of the Euro and discuss the benefits as well as the problems associated with the creation of this currency.
Support your paper with at least five (5) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included. Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.
Length: 5-7 pages (not including title and reference pages).
Eiteman, D., Stonehill, M., & Moffett, M. (2016). Multinational business finance. Boston, MA: Prentice-Hall.
Read Chapters 1, 2
This is a major resource, however, I think the assignment can be accomplished without it. I can’t seem to be able to download the book.
The global company's challenge.
Authors:
Dewhurst, Martin1
Harris, Jonathan2
Heywood, Suzanne
Aquila, Kate
Source:
McKinsey Quarterly. 2012, Issue 3, p76-80. 5p.
Document Type:
Article
Subject Terms:
*International business enterprises
*Emerging markets
*Economies of scale
*Contracting out
*Risk management in business
*Business models
*Executives
*Financial leverage
*Globalization
*Research & development
Developing countries
Company/Entity:
International Monetary Fund DUNS Number: 069275188
Aditya Birla Management Corp. Pvt. Ltd.
International Business Machines Corp. DUNS Number: 001368083 Ticker: IBM
NAICS/Industry Codes:
919110 International and other extra-territorial public administration
928120 International Affairs
541712 Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
541711 Research and Development in Biotechnology
Abstract:
The article focuses on the management of risks, costs, and strategies by international businesses in emerging markets. It states that the International Monetary Fund reported that the ten fastest-growing economies after 2012 will all be in developing countries. It mentions that technology company International Business Machines expects by 2015 to earn 30 percent of revenues in emerging markets compared to 17 percent in 2009, while Indian multinational conglomerate Aditya Birla Group earns over half of its revenue outside India and has operations in 40 nations. It talks about the benefit of economies of scale in shared services enjoyed by large global companies and comments that the ability to outsource business services and manufacturing is benefiting local busine.
Engineering Services: con gli ingegneri per creare valore sostenibileaccenture
Collaboriamo con gli ingegneri di aziende capital intensive per combinare tecnologie innovative con un approccio pragmatico che aiuti a raggiungere risultati aziendali migliori.
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionAggregage
Join Maher Hanafi, VP of Engineering at Betterworks, in this new session where he'll share a practical framework to transform Gen AI prototypes into impactful products! He'll delve into the complexities of data collection and management, model selection and optimization, and ensuring security, scalability, and responsible use.
SAP Sapphire 2024 - ASUG301 building better apps with SAP Fiori.pdfPeter Spielvogel
Building better applications for business users with SAP Fiori.
• What is SAP Fiori and why it matters to you
• How a better user experience drives measurable business benefits
• How to get started with SAP Fiori today
• How SAP Fiori elements accelerates application development
• How SAP Build Code includes SAP Fiori tools and other generative artificial intelligence capabilities
• How SAP Fiori paves the way for using AI in SAP apps
Climate Impact of Software Testing at Nordic Testing DaysKari Kakkonen
My slides at Nordic Testing Days 6.6.2024
Climate impact / sustainability of software testing discussed on the talk. ICT and testing must carry their part of global responsibility to help with the climat warming. We can minimize the carbon footprint but we can also have a carbon handprint, a positive impact on the climate. Quality characteristics can be added with sustainability, and then measured continuously. Test environments can be used less, and in smaller scale and on demand. Test techniques can be used in optimizing or minimizing number of tests. Test automation can be used to speed up testing.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Essentials of Automations: The Art of Triggers and Actions in FMESafe Software
In this second installment of our Essentials of Automations webinar series, we’ll explore the landscape of triggers and actions, guiding you through the nuances of authoring and adapting workspaces for seamless automations. Gain an understanding of the full spectrum of triggers and actions available in FME, empowering you to enhance your workspaces for efficient automation.
We’ll kick things off by showcasing the most commonly used event-based triggers, introducing you to various automation workflows like manual triggers, schedules, directory watchers, and more. Plus, see how these elements play out in real scenarios.
Whether you’re tweaking your current setup or building from the ground up, this session will arm you with the tools and insights needed to transform your FME usage into a powerhouse of productivity. Join us to discover effective strategies that simplify complex processes, enhancing your productivity and transforming your data management practices with FME. Let’s turn complexity into clarity and make your workspaces work wonders!
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
Le nuove frontiere dell'AI nell'RPA con UiPath Autopilot™UiPathCommunity
In questo evento online gratuito, organizzato dalla Community Italiana di UiPath, potrai esplorare le nuove funzionalità di Autopilot, il tool che integra l'Intelligenza Artificiale nei processi di sviluppo e utilizzo delle Automazioni.
📕 Vedremo insieme alcuni esempi dell'utilizzo di Autopilot in diversi tool della Suite UiPath:
Autopilot per Studio Web
Autopilot per Studio
Autopilot per Apps
Clipboard AI
GenAI applicata alla Document Understanding
👨🏫👨💻 Speakers:
Stefano Negro, UiPath MVPx3, RPA Tech Lead @ BSP Consultant
Flavio Martinelli, UiPath MVP 2023, Technical Account Manager @UiPath
Andrei Tasca, RPA Solutions Team Lead @NTT Data
A tale of scale & speed: How the US Navy is enabling software delivery from l...sonjaschweigert1
Rapid and secure feature delivery is a goal across every application team and every branch of the DoD. The Navy’s DevSecOps platform, Party Barge, has achieved:
- Reduction in onboarding time from 5 weeks to 1 day
- Improved developer experience and productivity through actionable findings and reduction of false positives
- Maintenance of superior security standards and inherent policy enforcement with Authorization to Operate (ATO)
Development teams can ship efficiently and ensure applications are cyber ready for Navy Authorizing Officials (AOs). In this webinar, Sigma Defense and Anchore will give attendees a look behind the scenes and demo secure pipeline automation and security artifacts that speed up application ATO and time to production.
We will cover:
- How to remove silos in DevSecOps
- How to build efficient development pipeline roles and component templates
- How to deliver security artifacts that matter for ATO’s (SBOMs, vulnerability reports, and policy evidence)
- How to streamline operations with automated policy checks on container images
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Removing Uninteresting Bytes in Software FuzzingAftab Hussain
Imagine a world where software fuzzing, the process of mutating bytes in test seeds to uncover hidden and erroneous program behaviors, becomes faster and more effective. A lot depends on the initial seeds, which can significantly dictate the trajectory of a fuzzing campaign, particularly in terms of how long it takes to uncover interesting behaviour in your code. We introduce DIAR, a technique designed to speedup fuzzing campaigns by pinpointing and eliminating those uninteresting bytes in the seeds. Picture this: instead of wasting valuable resources on meaningless mutations in large, bloated seeds, DIAR removes the unnecessary bytes, streamlining the entire process.
In this work, we equipped AFL, a popular fuzzer, with DIAR and examined two critical Linux libraries -- Libxml's xmllint, a tool for parsing xml documents, and Binutil's readelf, an essential debugging and security analysis command-line tool used to display detailed information about ELF (Executable and Linkable Format). Our preliminary results show that AFL+DIAR does not only discover new paths more quickly but also achieves higher coverage overall. This work thus showcases how starting with lean and optimized seeds can lead to faster, more comprehensive fuzzing campaigns -- and DIAR helps you find such seeds.
- These are slides of the talk given at IEEE International Conference on Software Testing Verification and Validation Workshop, ICSTW 2022.
Top Ten Challenges for Investment Banks 2015: Regulation: Challenge 3
1. Forced Compensation:
Attracting new talent and
retaining experience
Top Ten Challenges for
Investment Banks 2015
03
ForcedCompensation:
Attractingnewtalentand
retainingexperience
2. 03
Forced Compensation: Attracting
new talent and retaining experience
A convergence of high regulatory and public scrutiny,
reputational damage and increasing pressure on operating
costs presents investment banks with a significant challenge
to retain the best people in their organisation. Addressing
this challenge calls for significant changes to human capital
programs and the re-organisation of operating models. It
also requires banks to think more innovatively about overall
incentives if they are to acquire and retain the top talent.
Converging to the average
Since the financial crisis a swathe of
regulation has been introduced aimed at
reducing and controlling the financial
rewards available to employees in the
banking industry. Europe is leading the
way, implementing a bonus cap as part of
CRD IV regulation that limits bonuses to
the level of fixed compensation. In addition
to the bonus cap, a number of rules have
been put forward by, among others, the
Financial Stability Board (FSB), the UK
Financial Conduct Authority (FCA), the
Bank of England and the Committee of
European Banking Supervisors (CEBS), to
better align compensation practices with
the long-term profitability of institutions.
These guidelines are at least partly
attributable to public outrage at the
perceived largesse of the industry since
the financial crisis.
The overall impact of these measures is
being felt: since 2008, the average starting
package for MBA graduates in finance or
investment banking has been converging to
the average for other industries (see Fig.1).
2
3. The emergence of competition
At the same time, investment banks are
facing increasing competition, not only
from the buy-side but from a budding
technology sector, touted by many as the
“go-to” industry for the best and brightest.
Figure 3 illustrates the increasing diversity
of career interests among graduates of the
top business schools. Technology giants
such as Amazon and Google are continuing
to increase their graduate intake, as the
3
Figure 2: Staff costs as a % of operating expenditure
• Goldman Sachs
• Morgan Stanley
• JP Morgan
• Citi
• BarCap
• HSBC
• RBS
• UBS
• Credit Suisse
• Deutsche
• Santander
• AVERAGE
Source: Accenture
Research
Figure 1: Ratio of average starting package in Finance or an investment bank
to average salary in all industries
Source: Accenture Research, London Business School, Harvard Business School, INSEAD
• HBS - package in ib / package in All
industries
• LBS - package in Finance / package
in All industries
• INSEAD - package in ib / package in
All industries
2008 2009 2010 2011 2012 2013
140%
120%
100%
80%
60%
40%
20%
0%
Investment banks have responded with
measures to mitigate the impacts of these
new rules, for example by utilising
role-based “allowances” in addition to base
salaries. However, in the context of higher
amounts of equity-based remuneration
and the increasing presence of claw-back
provisions, regulation continues to force
change in compensation models.
Pressure on operating costs
Staff costs continue to represent
approximately 60% of operating
expenditure across the investment
banking industry, a figure broadly
unchanged since the financial crisis (see
Fig.2). As revenues, and RoE for
shareholders, continue to be suppressed
across core businesses, there is increased
pressure to reduce these costs.
2008 2009 2010 2011 2012 2013
80%
70%
60%
50%
40%
30%
4. Optimise operating costs
Accenture has long argued that in order
to reduce fixed operating costs in a
sustainable way, banks must make bold
decisions about their operating model
and human capital programmes. While
most banks have made strategic
decisions about which markets and
services they wish to focus on, few have
yet been able to execute on this strategy.
As part of a clearly-defined strategy,
banks should look to outsource
entrenched areas of operational cost in
non-core areas, or in parts of the value
chain where processes are
commoditised and deliver no
differentiating value to the business –
for example in post-trade processing.
Banks should also explore the use of
lower-cost locations for staff: in the
UK, Deutsche Bank has recently moved
many of its smaller client service teams
out of London to Birmingham, while US
banks continue to build out their
presence in New Jersey.
Reducing operating costs allows
resources to be re-focused on areas
which deliver the most value for the
business, for example in specialised
areas of sales or research. These roles
are specialist, revenue-generating and
require the most highly-skilled people,
with compensation packages to match
if banks are to compete.
Learn from the competition…and
innovate like them
Banks must also examine their
workplace cultures and organisation
“trendy” industry image, created by a
perceived relaxed corporate culture,
amplifies the appeal of technology as a
career choice.
To address this challenge, investment
banks must re-examine their operating
models and make bold decisions, while
finding the right combination of both
financial and non-financial incentives to
ensure they continue to attract the best
talent to grow their businesses.
4
2010 2011 2012 2013
25
20
15
10
5
Source: London Business School • Tech, media telecoms • Investment Banking
Figure 3: Employment destination of London Business School MBA Graduates, (%)
60%
Staff costs continue to
represent approximately
of operating expenditure across
the investment banking industry
5. 5
structures, and in this respect they should
look to their new competitors.
“Googlization” is a neologism increasingly
used in discussions of workplace culture
to encapsulate a dynamic environment
supporting collaboration and ideas
generation. Other industries – including
investment banking – should strive to
emulate their horizontal organisation
structure, which fosters a more open and
collaborative culture.
Indeed, banks are increasingly recognising
the power of fintech firms as incubators
of talent. Banks are now supporting or
participating in programmes aimed at
seeking out the next generation, providing
seed funding and mentorship
opportunities for new start-ups, and
generally working much more aggressively
with third-party innovators to attract and
retain the best talent. The more they
participate in this space, the more ideas
and working practices are drawn, osmosis-
like, into their own organisations.
In an industry where attrition is low and
the prospect of reaching senior
management is deteriorating, banks will
also need to find additional, innovative
ways to incentivise ambitious employees.
For example, as large multinational
institutions, banks have the ability to
utilise their size and incentivise talent by
offering opportunities in faster-growing
markets, for example in Asia or Latin
America. Apprenticeship schemes, by
giving junior staff the experience of
working closely with senior members
of the business, also serve to flatten
the organisation structure and allow
high-performers to learn and advance
more quickly.
Banks also need to consider the type of
work undertaken by their more junior
staff. The best graduates will always
be motivated far more by challenging,
strategic tasks, but even where this is
not always possible, banks should
consider changes that make their
employees’ time more impactful. New
platforms are emerging, such as
Thinknum – which enables analyst
collaboration on cloud-based
financial models. This is one example
of how new ideas, supported by
innovations in technology, are
helping to change working practices
in the industry.
Ensuring competitive compensation
for employees is vital for banks to
attract and retain top talent. Yet with
regulation and cost pressures
weighing on potential future income
and the emergence of competing
sectors such as technology, banks
must explore bold solutions and find
more innovative ways to recruit and
retain the best and brightest people.
The more they participate
in this space, the more
ideas and working
practices are drawn,
osmosis-like, into their
own organisations.
Ensuring competitive
compensation for
employees is vital for
banks to attract and
retain top talent.