| Topic Name: |
Cross LOB Career Moves |
| Message Name: |
Some Answers |
| Date Posted: |
02/06/2006 |
| In Reply To: |
OD -
The ability to move within the firm, especially from an ops functions, can be very difficult within the bank -- particularly, as you mention, if you are not in NY or Chicago.
How long have you been in Ops? This make a significant difference in your ability to move on internally. There is an unspoken phenomenon (at least, if it's been spoken, it's behind HR's closed doors) that someone in Ops for more than a couple years basically has no internal movement options aside from another very similar role.
Which LOB are you in, may I ask? --- and where do you want to go. This can have a huge impact on the process.
As RGardens mentioned, the relocation decision is something you'll need to consider... If you're not in NY, Chicago, or Texas, I'm not sure what cross-LOB movement options you have (Are we talking call center in Tampa?)
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| Message: |
I am in TSS now (I do not want to get much more specific). I have only been in Ops for about a year. My position was ??reclassified?? into operations last year, prior to that we were in Client Service (Front Office). Most of my job function is deal support for the salespeople. In the past year, I have found that I do not have an operations personality. I do a lot of cash flow modeling and system setup so the administration people know what to do and how to do it. Prior to the acquisition, we were more like partners with the salespeople. I could call the lawyers on a deal if there was something wrong with it and work it out. Now if I did that, I??d likely lose my job. They have scaled back my job to the point that it no longer serves the purpose for which it was designed (quality control on new deals) and is not what I signed up for. It??s getting to the point that a reasonably intelligent Chihuahua could do it. I??m a little bitter about it on a personal level, but I also truly believe that we must do this in order to be successful. We have to lower out cost basis in order to compete. I don??t work cheap, and neither does anyone in my unit. We are a bunch of lawyers, CPA??s and MBA??s. I??d rather not leave JPM, but I will be very unhappy and frustrated if I stay in my current position.
In terms of relocating, my wife is a professional and I have a young child, so I??d rather not relocate if possible. I??m in Columbus, so there is opportunity, but the majority of it is in operations (PCS, Corporate and Retail IT, TSS & Retail all have a large Ops presence here). I would really like to do deals if at all possible. I??d like to move into a regional IB type position, either doing middle market debt/equity deals or structured finance. I have experience with ABS/MBS deals. The position I am looking for doesn??t necessarily have to be with the Investment Bank. If I can find something in a different area that will allow me to do this type of thing, I think that I would enjoy that too. The networking opportunities are pretty thin right now. I have an offer from a competitor, but I really don't want to jump ship if at all possible.
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