How Regulatory Change is Shaping Project Delivery in Fintech

Australia’s financial services sector is evolving rapidly; from the rise of AI-enabled portfolio tools, digital investor platforms to the growing demand for transparency and personalisation. Beneath this innovation, regulatory change is quietly but fundamentally reshaping how projects are planned and delivered.

For Business Analysts (BAs) and Project Managers (PMs), compliance is no longer just a final-stage checkbox. It is embedded in every sprint, every feature, and every system design. Whether you’re in payments, funds and investments, or capital markets understanding the regulatory landscape is essential to delivering projects.


The Expanding Web of Regulation

Regulatory oversight in Australia is tightening in response to increased digitalisation, complexity and consumer expectations. Key drivers shaping project delivery across financial services include:

  • Consumer Data Right (CDR) – expanding from banking to energy and open finance, impacting data consent, APIs, and privacy
  • ASIC’s Design and Distribution Obligations (DDO) – requiring firms to define target markets and monitor product performance
  • Breach Reporting Reforms (under RG 78) – mandating more timely and transparent reporting of compliance failures
  • Operational Risk Management (CPS 230) – APRA’s new cross-sector standard on operational resilience, applicable from July 2025
  • Greenwashing Crackdown – ASIC’s enforcement of accurate ESG claims in product disclosures and marketing
  • T+1 Settlement Reform – coming in 2026, requiring faster post-trade processes and operational readiness
  • ASIC’s INFO 225 and INFO 269 – guidance on digital advice and the responsible use of artificial intelligence in financial services
  • Data breach obligations under the Privacy Act and the Notifiable Data Breaches (NDB) scheme

These regulatory shifts are not just legal concerns, they influence how platforms are architected, how teams collaborate and how value is delivered.


Five Ways Regulation Is Reshaping Project Delivery

1. AI: Emerging Enabler and Risk

AI is increasingly being used across financial services as a project delivery professional, it’s essential to start building a working knowledge of how these technologies are applied. This is especially important as ASIC has signalled growing expectations around algorithmic transparency, bias management and appropriate use — particularly under licensee obligations (RG 255, RG 274).

In parallel, the Australian Government has proposed 10 guardrails to guide the safe and responsible use of AI. This includes principles such as fairness, privacy protection, accountability and contestability. These guardrails are becoming key reference points for how financial institutions design, deploy and govern AI tools.

BA Insight: This means clearly documenting how AI models operate, what data they rely on and how they align with responsible use standards.

PM Insight: This means allocating time for explainability, model validation and ethical review gates especially in consumer-facing features.

AI tools can assist but must be governed. Always validate AI-generated documentation or insights through legal and compliance SMEs to ensure alignment with both regulatory guidance and ethical expectations.


2. Cross-Functional Regulatory Design

Australia’s regulatory obligations are no longer confined to legal and compliance teams.  They now span across technology, product, UX, data, risk and operations which is why cross functional collaboration is so important. Regulatory change impacts not just what firms build, but how they build it and who needs to be involved.

Take ASIC’s Design and Distribution Obligations (DDO) as an example. DDO requires financial services firms to:

  • Clearly define a Target Market Determination (TMD) for each product
  • Track how customers are actually using the product versus how it was originally intended
  • Take action if the product is being misused or causing harm

This isn’t just a legal compliance issue; it affects how UX is designed, how product usage is tracked through analytics and how data is collected and shared across systems. In other words, it’s a cross-functional challenge.

BA Insight: Capture DDO, AML/CTF, or ESG requirements early in your functional specifications. Don’t treat these as afterthoughts or constraints, treat them as foundational inputs that should shape the product from the beginning.

PM Insight: Bring legal, compliance and risk teams into the delivery process early. Treat them as collaborative partners, not gatekeepers. Create structured touchpoints like joint backlog reviews and sprint checkpoints to help make proactive risk and compliance decisions.


3. Agile + Governance = The New Normal

While fintechs often favour agile for its speed and flexibility, Australian regulators increasingly expect traceable, testable and auditable outcomes. This has led to a rise in hybrid delivery models; agile at the team level, with governance at the program level.

Traditionally, governance was linked to Waterfall delivery, with formal stage gates and approvals at each phase. However, today’s governance focuses on ensuring compliance and traceability without needing to follow a rigid Waterfall structure. Agile teams can integrate regulatory checks into their iterative processes to meet these expectations while maintaining flexibility.

BA Insight: Maintain clear traceability between user stories and regulatory obligations. For example, link user consent stories to CDR and Privacy Act compliance.

PM Insight: Build “regulatory checkpoints” into sprints or milestones. For example, include mandatory legal sign-off before releasing updates that impact product terms, disclosures, or consent flows.

This hybrid approach combines the agility of iterative delivery with the rigor of governance, ensuring compliance without sacrificing speed.


4. Operational Resilience and Readiness (CPS 230)

CPS 230, effective July 2025, requires all APRA-regulated entities to strengthen their controls over critical operations, third-party vendors and incident response. The standard emphasises operational resilience, meaning financial firms must be prepared to continue operations even in the face of disruptions such as cyberattacks, system failures or vendor issues. This places new pressure on projects to build resilience from day one, rather than bolting it on later.

The regulation covers areas like disaster recovery, backup systems and maintaining service continuity for critical functions such as client funds, payments and trading. It also requires companies to assess and manage the risks posed by their third-party vendors, ensuring these external partners are held to the same resilience standards.

BA Insight: Document service criticality and third-party reliance early in your requirements, particularly for products that handle client funds, trading or payments. Ensure resilience requirements are clear and traceable in functional specifications.

PM Insight: Map out dependencies on cloud platforms, data providers or outsourced operations teams. Ensure business continuity and resilience are factored into the early phases of the project, including disaster recovery and incident response plans.


5. Increased Demand for Data Governance and Disclosure

Regulators are placing greater emphasis on data governance and disclosure, expecting real-time visibility and evidence-backed transparency into how firms operate and make decisions. This includes areas like ESG (Environmental, Social, and Governance) transparency, breach reporting and investor disclosures. Fintechs are no longer just required to prove that their products work; they must also demonstrate that these products are fair, responsible and meet their advertised promises.

This means fintechs must provide clear and verifiable evidence that their products align with regulatory expectations and operate in a way that doesn’t mislead or harm customers. This trend is driving increased demand for proper data governance and audit trails to ensure that all claims (especially those related to ESG) are substantiated and can be easily tracked.

BA Insight: Work closely with data and reporting teams to ensure traceability from input data to customer output. Ensure ESG claims are substantiated with verifiable metrics (ASIC’s Info Sheet 271 outlines expectations).

PM Insight: Plan for parallel build and assurance processes. This often means preparing audit evidence in advance of go-live, particularly for products that will be reviewed by APRA or ASIC. Ensure that all regulatory compliance checks are completed and signed off before launch to avoid post-launch issues.


The Expanding Role of Project delivery

In this new era, BAs and PMs are not just delivery professionals; they are risk navigators, regulatory translators and compliance advocates. Core capabilities now include:

  • Interpreting ASIC, APRA and OAIC guidance
  • Translating obligations into functional and non-functional requirements
  • Supporting change impact assessments across people, process, and tech
  • Preparing delivery artefacts for compliance reviews or audits
  • Bridging the knowledge gap between legal, product, data and tech

As innovation in technology finance, AI and consumer expectations accelerates, regulatory pressure in Australia is only intensifying. With the rise of standards like CPS 230, increased expectations around AI governance, ESG disclosures and real-time compliance, the old approach of bolting on regulatory checks at the end is no longer viable.

Today, regulatory design is becoming central to delivery. For Business Analysts and Project Managers, this means shifting from reactive compliance to strategic integration; embedding regulatory thinking into planning, execution and cross-functional collaboration.

Done well, compliance is no longer a blocker. It’s a blueprint for building trust, moving faster and scaling with resilience.


Amaleen Ibrahim – Consultant – LinkedIn

Kapital Consulting is a niche Fintech Recruitment Business specialising in Technology, Project Services and Data Recruitment across Australia. For more information connect with us on www.kapitalconsulting.com.au and follow us on www.linkedin.com/company/kapital-consulting

The Power of Employer Branding: Why Your Company Reputation Matters

If your company had to attract top-tier talent tomorrow with zero recruitment budget, would your reputation be enough?

In today’s market, your brand as an employer carries just as much weight as your products, services or leadership team. And in many cases, it’s the deciding factor for whether great candidates choose you… or quietly opt out.

Let’s be real. Even the best salaries and job descriptions struggle to shine if they’re sitting under the shadow of a poor Glassdoor rating, outdated hiring processes or radio silence post-interview.


The Fintech Industry: Why It Matters Even More Here

In financial services, more specifically in the Funds and Trading space – everyone knows everyone.

It’s a surprisingly small (and well connected) market. Candidates are digging deep. They’re looking up Glassdoor reviews, stalking your company’s social channels, even asking ex-employees in their network for the real goss.

 

They want to know:
  • What’s the culture actually like?
  • How long do people really stay?
  • Why did three team members leave in six months?
  • Is the hiring manager known to develop talent, or burn it out?

Let’s be honest – people love a whinge more than a win. One bad experience gets shared more than ten good ones. And in a world of DMs, slack chats and industry meetups, bad news travels fast.

If the root of the problem is a particular team or manager, that’s something that needs to be tackled head-on. Patterns of exit? That’s not coincidence – it’s culture.

 

What Candidates Are Saying Behind the Scenes

We hear it daily:

  • “The role sounded great, but their socials look like a ghost town.”
  • “Glassdoor was full of red flags.”
  • “I was keen, but then I heard from a friend of a friend who worked there…”
  • “I interviewed there 5 years ago and didn’t have a good experience”
  • “I did 4 rounds of interviews then I never heard back”

Candidates don’t just research your company – they investigate it. And increasingly, employer brand is as much about how you treat people as what you offer them. This also applies to the agenciesyou decide to partner with. How do they represent your company? What is their candidate care and process like? This can also badly damage your brand.

So if you haven’t checked your reputation lately, it might be time.

 

Why Employer Branding Is a Business Strategy

This isn’t just HR fluff. Strong employer brands:

  • Attract top talent
  • Improve retention and internal mobility
  • Build reputations that boost client trust and partnerships
  • Help future-proof your team during growth and transformation

You don’t need to be perfect – you just need to be honest, consistent and willing to listen.

 

✅ 5 Things to Check Now

Here’s a quick health check for any leadership team or HR:

  1. Glassdoor Reviews – When was the last time you read them? If people are leaving negative reviews, what are you doing about it? And we aren’t talking a generic response to “look good”.
  2. Exit Interviews– Are you doing them? Who is conducting them? Are you listening – or just ticking the box?
  3. Social Presence – Do your socials reflect what it’s actually like to work there? Or are they stuck in 2010?
  4. Retention Rates– How long are your people staying and why are they leaving? You don’t want generic responses “I left for more money”, there’s always a deeper issue.
  5. Leadership Impact – Are certain managers seeing more turnover than others? If so, what support or change is being provided?

Your employer brand exists whether you choose to shape it or not. So if you’re not in control of the narrative, someone else is and that’s rarely a good thing.

If you’re curious about how your company is perceived in the market or want to build a more consistent employer brand story, I’d be happy to share what we’re seeing in the Fintech space.


Shannon Stobbs – Manager – LinkedIn

Kapital Consulting is a niche Fintech Recruitment Business specialising in Technology, Project Services and Data Recruitment across Australia. For more information connect with us on www.kapitalconsulting.com.au and follow us on www.linkedin.com/company/kapital-consulting

The Transformation of Data Platforms in Superannuation and Investment Management

Lets take a decade by decade look…

Data evolution has been driven by technological advancements, regulatory demands and the need for improved fact paced decision-making and real time member engagement.

There are so many systems nowadays like NeoXam, Goldensource, Fencore, Finbourne, ICS, Eagle/BNY, Matrix/Rimes, MarkitEDM, State Street Alpha and Factset all of which have unique offerings and all vying for your business – but how did we get to this point of evolution with such sophisticated product platforms in our industry?

As the industry has grown, data platforms have evolved from basic systems handling static data to complex, real-time, and cloud-based platforms capable of processing vast amounts of information.

This transformation has enabled superannuation funds and investment managers to make more informed decisions, optimise operations and enhance member services.

Let’s jump in and take a look at the journey through the ages……

 

1. Early Data Platforms (Pre-2000s): Basic Record-Keeping and Compliance

Data platforms in the superannuation and investment industry in the early days were relatively simple. They were primarily designed to meet regulatory compliance needs, such as tracking contributions and maintaining member account balances. These systems were limited in scope and functionality and the data was often siloed with little integration across different functions and different systems.

They were basic database systems for tracking member accounts, contributions and withdrawals. They were simple reporting tools and required manual data input and processing and limited ability to provide  real-time insights or analytics.

 

2. Introduction of ERP and Financial Software (2000s-2010): Integration and Automation

As superannuation funds grew larger and the investment landscape became more complex, the industry began to adopt enterprise resource planning (ERP) systems and specialised financial software. These platforms introduced greater levels of integration across team functions, helping to automate back-office operations and provide more accurate financial reporting.

These systems allowed better integration of member data, investments, and accounting and data warehouses began to emerge, enabling the storage of large volumes of historical data for more comprehensive analysis. The start of automating routine tasks (payroll, fund administration and regulatory reporting).

Challenge was that data remained largely batch-processed with limited real-time capabilities however integration improved

 

3. Shift to Data Analytics and BI (2010-2015): Data-Driven Decision-Making

With increased industry competition and an increased focus on investment performance and member engagement, superannuation funds began to adopt more advanced data analytics and business intelligence tools. The ability to generate actionable insights from data became a strategic priority.

This era saw the introduction of data analytics and business intelligence (BI) platforms for portfolio management, risk assessment, and performance analysis. Data visualisation tools emerged and advancements in data reporting occurred for reg compliance, risk management and member comms.

Issue is that platforms were still predominantly on-prem making scalability and flexibility difficult.

 

4. Advent of Cloud-Based Platforms and Big Data (2015-2020): Scalability and Flexibility

The adoption of cloud-based platforms and the ability to process big data marked a significant turning point in the superannuation and investment industry. Advancements in cloud technology allowed funds to scale their data storage and processing capabilities, while also providing flexibility in managing both structured and unstructured data.

Cloud allowed the reduction of on-prem data centre costs and big data technologies enabled funds to process vast amounts of information quickly.

Data integration became more seamless and we saw the growth of advanced analytics, machine learning and AI to automate portfolio management and optimise investment decisions.

There were still issues around data security and privacy and the migration of legacy systems to cloud platforms required significant investment

 

5. Real-Time Data and AI-Driven Platforms (2020-2024): Innovation and Predictive Insights

The most recent phase of data platform evolution has been driven by AI, machine learning, and real-time data processing. These technologies are enabling superannuation funds and investment managers to make faster more informed decisions and offer personalised services to members.

With the reduction in many superfunds and investment firms due to either acquisitions or mergers, and also the increased use of SMSF, means that funds are required to produce more significant returns for members.

AI and machine learning algorithms are used to predict market trends, optimise portfolios and automate risk, which as an SMSF member, you probably don’t have access to.

Real-time data platforms provide instant insights into portfolio performance, market conditions and member behaviour.

Personalisation at scale: Funds can now offer tailored advice and investment options to members based on their unique circumstances, powered by data analytics and AI.

ESG integration: Data platforms are also being used to assess environmental, social, and governance (ESG) factors, allowing funds to meet growing demand for sustainable investment options.

Regulatory compliance still remains a challenge as funds must ensure they adhere to evolving rules on data privacy and financial transparency. Business also need to ensuring that AI and machine learning models remain ethical.

 

What the future Trends in Data Platforms will look like: Decentralisation, Blockchain, and Enhanced Automation

Looking ahead, the superannuation and investment industry is likely to see further evolution in data platforms, driven by emerging technologies such as blockchain, decentralised finance (DeFi), and enhanced automation.

 

Technology advancements and the adoption of funds to utilise the best platforms fit for member purpose, transparency, reg compliance and security are going to be an interesting road ahead.


Sean Turner

Founder | CEO | Tech Recruitment Leader
February 26, 2025

 

Kapital Consulting is a niche Fintech Recruitment Business specialising in Technology, Project Services and Data Recruitment across Australia. For more information connect with us on www.kapitalconsulting.com.au and follow us on www.linkedin.com/company/kapital-consulting

The Importance of Leadership Training

Promoting staff into managerial roles is a key growth strategy for organisations. It not only rewards top performers but also helps businesses maintain continuity and promote from within. However, transitioning from an individual contributor to a manager is a significant shift, requiring a new set of skills. Leadership training is crucial during this transition, ensuring that newly promoted managers are equipped to lead teams effectively and drive business success. Here’s why leadership training should be an essential part of any promotion strategy:

 

1. Bridging the Skills Gap Between Performer and Leader

Many employees excel in their individual roles due to their technical expertise, efficiency, and dedication. However, the skills that make someone successful in their job don’t automatically translate to effective leadership. Leading a team requires different competencies such as decision-making, conflict resolution, motivating others, and strategic thinking. Leadership training bridges this gap by helping employees understand the nuances of managing people, building trust, and fostering collaboration.

Without this training, even the most talented employee can struggle when promoted to a management role, which can lead to disengagement, increased stress, and even failure. Training provides the tools to make the shift successfully, helping employees understand their new responsibilities.

2. Fostering Emotional Intelligence and Communication Skills

One of the most important aspects of leadership is emotional intelligence (EQ). Managers need to be able to recognise and manage their own emotions, as well as understand and influence the emotions of others. Leadership training helps develop EQ by teaching self-awareness, empathy, and interpersonal skills, all of which are critical for leading teams effectively.

Communication also plays a pivotal role in leadership. Managers must be able to communicate with different stakeholders in ways that inspire confidence and clarity. Leadership training helps develop these communication skills, teaching new managers how to convey feedback, delegate tasks, and handle sensitive situations professionally.

3. Building Confidence in Decision-Making

Managers are often tasked with making difficult decisions that impact both their team and the broader organisation. Leadership training can help new managers build confidence in their decision-making by introducing frameworks for evaluating options, assessing risks, and making informed choices.

Leadership courses also emphasise the importance of accountability, teaching managers to take responsibility for their decisions and how to adjust strategies when things don’t go as planned. Building this confidence early on ensures that managers can make sound decisions under pressure, which is crucial for maintaining team morale and operational efficiency.

4. Cultivating a Leadership Mindset

Moving from being an individual contributor to leading a team requires a shift in mindset. New managers need to learn to see the bigger picture, focusing not just on their own performance but on the growth and success of their team. Leadership training encourages this shift by helping employees understand how to motivate others, foster a positive team culture, and align their team’s objectives with the company’s goals.

Cultivating this mindset early on helps new managers avoid common pitfalls, such as micromanagement or focusing too much on personal achievement rather than team success. A leadership mindset also fosters innovation and creativity, encouraging managers to think strategically about the future.

5. Ensuring Consistent Leadership Across the Organisation

When leadership training is part of the promotion process, it helps establish consistency in how managers lead across the organisation. This uniformity is critical for maintaining company culture, improving employee satisfaction, and driving productivity. With leadership training, managers across different departments and functions learn the same principles and values, which ensures a cohesive approach to management.

Consistent leadership styles also help teams perform better. When employees know what to expect from their managers – clear communication, fair decision-making, and strong support – they are more likely to trust their leaders and stay engaged in their work.

6. Preventing Burnout and High Turnover

New managers often face high levels of stress as they adjust to their increased responsibilities. Leadership training can ease this burden by providing new managers with the tools they need to manage their time, delegate tasks effectively, and support their team without becoming overwhelmed.

Without proper training, new managers are more susceptible to burnout, which can lead to high turnover and a negative impact on team performance. A strong leadership training program, on the other hand, fosters resilience, teaching managers how to prioritise self-care and create a sustainable work-life balance.

7. Enhancing Team Performance and Engagement

Effective leaders have a direct impact on team performance and engagement. When managers are trained in leadership best practices, they are better equipped to motivate and inspire their teams. They understand how to provide constructive feedback, recognise individual strengths, and foster a collaborative team environment.

Leadership training also helps new managers learn how to set clear goals and expectations for their team, ensuring that everyone is aligned and working towards the same objectives. This clarity leads to higher productivity, improved morale, and ultimately better business outcomes.

Promoting employees into managerial roles is a natural part of growth, but without the right support, it can lead to challenges for both the individual and the organisation. Leadership training is essential for equipping new managers with the skills they need to succeed. It not only helps bridge the gap between individual contribution and leadership but also fosters a positive work environment, improves decision-making, and drives team performance. Investing in leadership development is an investment in the long-term success of your organisation, ensuring that your new managers are prepared to lead with confidence and competence.


Amaleen Ibrahim – Consultant

Kapital Consulting is a niche Fintech Recruitment Business specialising in Technology, Project Services and Data Recruitment across Australia. For more information connect with us on www.kapitalconsulting.com.au and follow us on www.linkedin.com/company/kapital-consulting

Conducting Exit Interviews: what you’re missing out on by skipping them

I’ve recently heard some horror stories about company cultures in Sydney (hence my last article!), where employees have raised concerns but faced a lack of response due to a ‘clique’ mentality within the organisation. Despite people leaving, it seems these companies show little interest in addressing the issues or improving the situation.

Exit interviews are one of the most underutilised tools in a company for improving employee retention, refining workplace culture, and identifying areas for growth. While many organisations overlook the process, a well-structured exit interview can provide invaluable insights that help prevent future turnover and improve overall organisational health. Skipping exit interviews means missing out on a wealth of knowledge from employees who have had firsthand experience in your company’s ecosystem.


Why Exit Interviews Matter

Exit interviews provide a unique opportunity to gather unfiltered feedback from employees who are leaving. Unlike current employees, they are more likely to be candid about issues they faced, whether it’s related to management, team dynamics, compensation, or company culture. By conducting exit interviews properly, companies can:

  • Identify patterns and trends: Multiple employees leaving for similar reasons may indicate a systemic issue that needs addressing
  • Improve employee retention: Insights gained can help organisations make changes that reduce turnover
  • Refine the hiring process: Can reveal whether the expectations set during recruitment match the reality of the job
  • Boost company culture: Honest feedback on workplace culture can guide initiatives to make your organisation a better place to work

 

Steps to Conduct an Effective Exit Interview

To get the most out of an exit interview, it’s crucial to approach it thoughtfully and professionally. Here’s a step-by-step guide:

 

1.       Who should conduct an exit interview?

The exit interview should ideally be conducted by someone who can ensure a neutral, non-intimidating environment for the departing employee. The best options are:

  • HR: HR professionals are usually the most suitable for conducting exit interviews. They are trained to handle sensitive information, provide a neutral space for discussion, and ensure confidentiality. Since HR is not part of the employee’s direct reporting line, the individual may feel more comfortable sharing honest feedback without fear of consequences.
  • Senior Leader: A Senior Leader who doesn’t work directly with the departing employee can be a good alternative. This should be someone who can maintain professionalism and avoid creating a defensive environment during the interview.

Whoever conducts the exit interview should establish trust by reassuring the employee that the feedback will remain confidential and used constructively.

 

2.       Schedule a Face to Face or Virtual Meeting

Ideally in person (virtually if last resort), the exit interview should feel like a real conversation, not a formality. It’s best to schedule the meeting during the employee’s last few days, but not on their very last day, as this may seem rushed and less sincere. Something that’s an informal discussion, even outside of the office in a coffee shop, wherever you feel the employee will open up and discuss openly.

Ensure the setting is private and comfortable, so the employee feels secure in sharing honest feedback.

 

3.        Create an Open, Non-Judgmental Atmosphere

It’s important to reassure the departing employee that their feedback is valuable, will remain confidential, and will be used constructively to improve the organisation. Make it clear that the exit interview is an opportunity for the company to learn and grow.

You might say: “We want to use your feedback to make this a better place for future employees and improve on the things that might not have worked well for you.”

Being empathetic and open-minded will encourage the employee to be honest.

 

4.        Ask Structured but Open-Ended Questions

The goal is to get meaningful, actionable insights from the employee. Start with broad, open-ended questions that allow them to explain their experience and follow up with more specific questions as needed.

  • What made you decide to leave? This can help reveal whether the employee left for reasons within the company’s control (e.g., management, culture, compensation) or due to external factors (e.g., relocation, career change, headhunted).
  • What did you enjoy most about working here? Positive feedback can be just as useful as negative. Understanding what the company is doing well allows you to continue fostering those elements.
  • What could have been done differently to keep you here? This question provides direct insight into areas for improvement, whether it’s salary, growth opportunities, culture, management etc.
  • How would you describe the culture here? Feedback on culture is critical, as a negative work environment can be a major factor in turnover. Understanding the perception of your company’s culture can help in making necessary adjustments.
  • Do you feel like your role and responsibilities were clearly defined? This will highlight any disconnects between job expectations and the actual duties the employee performed, helping refine job descriptions for future hires.
  • What advice would you give to your manager? This can provide insight into what worked and didn’t work in the role and how future employees can be better set up for success.

 

5.        Take Notes, But Focus on Listening

Listening actively is the most critical aspect of an exit interview. While taking notes is essential, make sure your primary focus is on understanding the employee’s perspective. Ask follow-up questions for clarification but avoid being defensive or interrupting. This is their opportunity to speak openly, and they should feel heard.

 

6.        Maintain a Professional and Neutral Stance

Even if the feedback is difficult to hear, maintain a neutral, professional demeanour. It’s crucial not to get defensive or attempt to justify any actions or company policies during the interview. Instead, focus on gathering as much information as possible.

You might respond to challenging feedback by saying: “That’s really valuable to know. We appreciate your honesty, and we’ll take this into account as we move forward.”

 

7.        Conclude on a Positive Note

Thank the employee for their contributions to the company, acknowledge their feedback, and wish them well in their future endeavours. Ending on a positive note ensures that they leave with a good impression of the organisation, which is important for maintaining a strong employer brand.

You might say: “We’re grateful for the time you spent with us and for your willingness to share your thoughts. Best of luck in your next role, and know that our door is always open if you need anything.”


What to Do With the Information

Once the interview is complete, the real work begins. Review the feedback for patterns and actionable insights, then share this information (anonymously if needed) with relevant managers or leaders. Use the feedback to:

  • Identify and address recurring issues, whether it’s poor management, lack of growth opportunities, or unclear role expectations
  • Improve the onboarding process to set clear expectations for new hires
  • Refine your company culture based on the concerns raised by departing employees

Taking actionable steps based on exit interview feedback shows that the company values employee input and is committed to improving the work environment, and to note the word really does spread in the market for bad experiences!

 

Skipping exit interviews or conducting them superficially means missing out on critical insights that could improve your company’s employee experience and retention. By approaching exit interviews considerately, you can reduce turnover, enhance your company culture, and strengthen your employer brand.

Don’t let the opportunity for growth walk out the door with your departing employees—make exit interviews a key part of your company’s continuous improvement strategy.


Shannon Stobbs – Manager – LinkedIn

Kapital Consulting is a niche Fintech Recruitment Business specialising in Technology, Project Services and Data Recruitment across Australia. For more information connect with us on www.kapitalconsulting.com.au and follow us on www.linkedin.com/company/kapital-consulting

The Importance of Workplace Culture: Identifying Red Flags & Building a Positive Environment

Lately, I’ve been engaging in numerous conversations with candidates who have either left their jobs or are contemplating leaving without another position lined up. A recurring theme in these discussions is the negative impact of workplace culture on their well-being and job satisfaction. Many have shared how toxic environments, poor management practices, and a lack of support have driven them to make difficult decisions about their careers.

It’s a sensitive topic, especially since I’ve been through it myself. At the time, figuring out what to do felt like an overwhelming challenge – questions like “Do I stay or go?” and “Will my manager change?” constantly ran through my mind. One day things seemed to improve, and I’d feel hopeful, only to find myself back at square one the next day (or even an hour later!).

Workplace culture is the collective behaviour, values, and beliefs that shape the day-to-day work environment. A positive culture can drive productivity, innovation, and employee satisfaction, while a toxic culture can lead to high turnover, low morale, and decreased performance. Understanding the nuances of workplace culture and being able to identify red flags are crucial for both employees and employers.


The Role of Culture in the Workplace

Culture is more than just a fancy office or casual Fridays; it’s the underlying ethos that guides how employees interact, make decisions, and work towards common goals. A healthy workplace culture fosters collaboration, inclusivity, and continuous learning. It empowers employees to contribute their best work, feel valued, and be aligned with the organisation’s mission.

Signs of a Positive Workplace Culture:

  1. Open Communication:Transparency and open channels for feedback are essential. Employees should feel comfortable sharing their ideas and concerns without fear of retribution or push back.
  2. Employee Recognition: Regular acknowledgment of employee efforts and achievements, whether through formal programs or spontaneous praise, fosters a sense of appreciation and motivation.
  3. Diversity and Inclusion: A culture that values diverse perspectives and encourages inclusivity promotes creativity and innovation. It also ensures that all employees feel they belong, regardless of their background.
  4. Work-Life Balance: Organisations that respect employees’ time and well-being demonstrate a commitment to their long-term success. Flexible work arrangements and respect for personal time are hallmarks of this balance.

Red Flags in Workplace Culture

Identifying red flags in a workplace culture is critical to avoiding environments that can be detrimental to your career growth and well-being. Here are some warning signs to watch out for:

  1. High Employee Turnover: A consistently high turnover rate often signals underlying issues, such as poor management, lack of growth opportunities, or a toxic environment.
  2. Lack of Transparency: If decision-making processes are opaque and leadership is inaccessible, it may indicate a culture of mistrust or miscommunication.
  3. Micromanagement:Excessive oversight and lack of autonomy are signs of a controlling culture that stifles creativity and innovation. It can lead to employee burnout and dissatisfaction as well as employees doubting their capabilities.
  4. Resistance to Change:Organisations that are stuck in their ways and resistant to new ideas or processes may struggle to adapt in a rapidly changing business landscape. This can hinder both personal and organisational growth, and cause frustrations within the team.
  5. Gossip and Office Politics: A culture rife with gossip, cliques, and office politics can create a toxic environment where employees feel insecure and disengaged.

Overcoming Cultural Challenges

If you find yourself in a workplace with a less-than-ideal culture, there are steps you can take to improve your experience:

  1. Set Boundaries: Clearly define your personal and professional boundaries. Communicate them assertively to your colleagues and managers to avoid burnout and maintain a healthy work-life balance.
  2. Seek Allies: Find colleagues who share your values and work ethic. Building a supportive network within the organisation can help you navigate cultural challenges and find common ground.
  3. Provide Constructive Feedback: If you notice cultural issues, address them respectfully with your manager or HR department. Offering solutions rather than just highlighting problems can lead to positive changes.
  4. Focus on Professional Development: Take control of your career growth by seeking out learning opportunities, even if they’re not directly offered by your organisation. This can help you stay motivated and prepared for future roles.
  5. Consider Moving On: If the culture is deeply toxic and efforts to improve it have been unsuccessful, it might be time to seek opportunities elsewhere. Your well-being and career progression should be top priorities.

Workplace culture is a significant factor in employee satisfaction and organisational success. Remember, culture is not just what you see on the surface; it’s how an organisation truly operates at its core, and remember to put yourself first if you ever do come across cultural issues.

I understand from firsthand experience how challenging it can be to navigate a workplace with a negative culture. If you’re struggling with similar issues or considering making a change, don’t hesitate to reach out; sometimes having an off record conversation can make the world of difference!


Shannon Stobbs – Manager

Kapital Consulting is a niche Fintech Recruitment Business specialising in Technology, Project Services and Data Recruitment across Australia. For more information connect with us on www.kapitalconsulting.com.au and follow us on www.linkedin.com/company/kapital-consulting

Funds Management M&A Newsletter 2024

Welcoming you to our Funds newsletter, where we delve into the recent trends and developments within the Australian funds management industry. In this edition, we explore the state of the industry, significant mergers and acquisitions, and the evolving landscape shaping the future of investment management in Australia.

 

State of the Industry

 

The Australian funds management industry continues to demonstrate resilience and adaptability amidst ongoing economic uncertainties and market volatilities. With a robust regulatory framework and a strong focus on investor protection, Australia remains an attractive destination for both domestic and international investors seeking diversified opportunities.

 

Despite challenges posed a few years ago by the global pandemic and recent geopolitical tensions, the industry has shown remarkable growth in assets under management (AUM) over the past few years. The increasing demand for sustainable and socially responsible investment options has also reshaped the investment landscape, with funds incorporating environmental, social, and governance (ESG) principles into their strategies as well as delving into new benefits provided by investment data system providers such GoldenSource, Finbourne, Rimes (Matrix), S&P Global (IHS/MarkitEDM), Fencore, NeoXam and BNY Mellon (EaglePACE).

                   

 

Industry Mergers and Acquisitions

 

Dexus acquired AMP Capital’s real estate and domestic infrastructure equity business (AMP Capital) in March 2023. The combined business creates a leading real assets investment manager in Australia with more than $60 billion of funds under management.

 

           

AMP and Ares Management Corporation: A subsidiary of Ares Management Corp. completed its acquisition of Sydney-based AMP Ltd.’s infrastructure debt platform in early 2022. The transaction added about $8 billion in assets under management to Ares, bringing its total AUM across its debt and equity platforms to over $12 billion.

 

         

Magellan Financial Group, Barrenjoey Capital and FinClear: Magellan Financial Group acquired a 35 percent stake in Barrenjoey Capital Partners, signalling its foray into investment banking and capital markets. This strategic alliance has enhanced Magellan’s diversification strategy and strengthens its position as a diversified financial services provider, catering to the evolving needs of its clients across the investment spectrum. Magellan also acquired a 15 percent stake in FinClear, an Australian leading independent technology and infrastructure provider for financial markets both listed and private.

 

   

Perpetual and Pendal: Perpetual completed a $2.5 billion acquisition of Pendal in January 2023 bringing Perpetual’s total assets under management to roughly $200 billion strengthening its position in the Australian investment industry.

 

Other completed mergers in the Funds industry

 

  • Australian Ethical and Christian Super
  • Australian Super and Club Plus and LUCRF
  • Cbus and Media Super and EISS Super
  • Centric Super and Encircle Super merged
  • Equip and Catholic Super and BOC Super
  • First State Super and Vicsuper and WA Super and VISSF (rebranded as Aware Super)
  • HESTA and Mercy Super
  • Hostplus and Intrust and Statewide
  • LGIAsuper and Energy Super and Suncorp Super (rebranded as Brighter Super)
  • Sunsuper and QSuper and Incitec Pivot Employees Superannuation Fund (IPES) and Australia Post Superannuation Scheme (APSS) (rebranded as Australian Retirement Trust)
  • Tasplan and MTAA (rebranded as Spirit Super)
  • UniSuper and Australian Catholic Super

 

Mergers under discussion or in progress

 

  • Active Super and Vision Super
  • Alcoa Super and Australian Retirement Trust
  • AvSuper and Australian Retirement Trust
  • Care Super and Spirit Super
  • Commonwealth Bank Group Super and Australian Retirement Trust
  • Hostplus and Maritime Super
  • Mercer Super and BT Super and Lutheran Super and Holden Employees Super Fund (HESF)
  • Oracle Super Fund and Australian Retirement Trust
  • TWUSuper and Mine Super

 

 

 

These mergers and acquisitions underscore the industry’s dynamic nature and the imperative for firms to adapt and innovate in response to changing market dynamics and investor preferences. Consolidation trends are expected to continue as firms seek scale, diversification, and strategic partnerships to navigate the evolving landscape and drive long-term growth.

 

Future Outlook

 

Looking ahead, the Australian funds management industry is poised for continued growth and innovation, fuelled by technological advancements, regulatory reforms, and shifting investor preferences. Firms will need to remain agile and responsive to emerging trends, including the rise of digital assets, the integration of AI and machine learning in investment processes, and the increasing focus on sustainability and responsible investing.

 

As the industry evolves, collaboration and partnerships will be key drivers of success, enabling firms to harness collective expertise, leverage complementary capabilities, and deliver value-added solutions to investors. With a commitment to excellence, integrity, and client-centricity, the Australian funds management industry is well-positioned to navigate the challenges and seize opportunities in an ever-changing global landscape.

 

Thank you for joining us in this edition of our newsletter. We look forward to bringing you more insights and updates on the dynamic world of funds management in the months to come.

 

Hope you have enjoyed this newsletter and for further information, please feel free to reach out to us

 

How to successfully integrate two Investment firms

Due to the high volatility and shere number of funds and investment management businesses looking to acquire, sell or merge, we thought it would be a good idea to write an article to highlight some key take aways to consider when acquiring and integrating two investment firms.

 

When it comes to integrating two investment firms from a technology and systems stand point, there are several factors to consider. Here are some of the best practices for technical integration:

 

  1. Conduct a comprehensive technology audit

The first step in technical integration is to conduct a comprehensive audit of both firms’ technology systems. This will help identify any redundancies, compatibility issues, and areas that need improvement. The audit should cover hardware, software, networks, and data centers. This is a good time to highlight each companies unique platforms which comprise of:

  • Order management system (OMS) and trading platforms
  • Investment management and risk analytics systems
  • Enterprise Data Management and performance
  • CRM platforms (usually Salesforce in buyside clients)
  • Data visualization and business intelligence (usually PowerBI, Tableau or Alteryx).
  • Any financial advice platforms
  • Who do they outsource fund administration to and also does this cover custody, fund accounting and transfer agency services?

  1. Choose a platform for data consolidation

After the technology audit, the next step is to choose a platform for data consolidation. This platform should be able to accommodate data from both firms, as well as any future acquisitions. It should also be secure, scalable, and able to integrate with other systems.

 

  1. Establish a project team

To ensure a successful technical integration, it’s essential to establish a project team. This team should consist of representatives from both firms and should include IT professionals, project managers, and other key stakeholders. The team should be responsible for overseeing the integration process, including setting timelines, managing budgets, and communicating progress to stakeholders.

 

  1. Prioritize integration efforts

Given the complexity of integrating two investment firms, it’s important to prioritize integration efforts. The project team should focus on critical systems first, such as trading platforms, order management systems, and risk management systems. Once these systems are integrated, the team can move on to less critical systems.

 

  1. Communicate regularly

Effective communication is essential for successful technical integration. The project team should communicate regularly with stakeholders, including employees, clients, and vendors. This will help ensure that everyone is aware of the integration process, any changes that will affect them, and when they can expect the integration to be completed.

 

  1. Test and validate systems

Before going live, all integrated systems should be thoroughly tested and validated. This will help ensure that the systems are working as intended and that there are no critical issues. Testing should include end-to-end testing, user acceptance testing, and performance testing.

 

In conclusion

Integrating two investment firms technically can be a complex process. By conducting a comprehensive technology audit, choosing a platform for data consolidation, establishing a project team, prioritizing integration efforts, communicating regularly, and testing and validating systems, the integration process can be successful. It’s important to have a clear plan in place, communicate effectively, and be prepared to make adjustments along the way.

Fintech Recruitment Newsletter August 2022

Technology-driven trends

The following trends will likely drive demand for skilled talent over the coming years. In a post-pandemic world defined by production challenges and political unrest, people continue to focus on digital solutions capable of shifting traditional models of distribution. These emerging trends lie at the intersection of data and employment:

Lifestyle and skills reappraisal

The great attrition of 2021 saw employees resigning in record numbers. While this trend continues in many markets, it has shifted its focus somewhat towards reappraisal and renegotiation. Employment numbers are healthy, with a fundamental mismatch between the demand for talent and the people supplying it.

41% of Australian workers and 40% of global workers say they might leave their jobs in the near future.

Technology has a huge role to play in this brave new world, as data skills and remote work arrangements enable fluid movements between locations and industry sectors.

Digital demand and distribution

The redistribution of banking continues to divorce traditional financial channels. Digital solutions remain resilient in the face of change, and emerging digital-physical hybrids offer a viable alternative solution. The global pandemic has accelerated a permanent channel shift, making data skills more in demand than ever.

In 2021, over 40% of core retail banking sales originated in the digital sphere, in an environment where total sales dropped by 10%, and digital sales rose 4%. This highlights the resilient nature of digital resources in tough economic climates.

As digital banking grows and data-led solutions overflow into other financial services, professionals with data skills will likely remain in high demand.

Alternative investment models

The wealth management industry faces altered priorities, with new delivery methods, offerings, and economic models requiring a new skills base. While the traditional longing for capital efficiency and recurring revenue is even more pronounced, technology plays a bigger role in achieving these things.

Customer demand for wealth management is expected to surge by $254 billion by 2030, which is double the revenue from 2021.

With ESG (environmental, social, and governance), private, and digital investments increasingly desired by new and existing customers, data expertise will retain its immense value in the years ahead.

Safety and security

As technology evolves to meet the demands of the brave new world, security remains a key concern. Moreover, the current global political landscape is accelerating existing trends, with the invasion of Ukraine and tensions with China increasing challenges and driving cybersecurity investment.

Cybercrime is expected to cost the world an estimated USD$10.5 trillion by 2025, a number that has grown from just USD$3 trillion in 2015. This highlights a growing need for digital security employment, which is relevant to fintech and most other industry sectors.

Cybercrime is a huge concern for banks and financial services organisations trying to protect customer data. The rate of demand has increased and so has the expectation on candidates skillsets.

We have seen huge demand across our Australian client base in all of the above areas and have further research to provide. Should you wish to find out more, please message us at info@kapital.com.au or team@kapital.com.au

 

Fintech Recruitment Newsletter October 2021

Even with Covid restrictions this has certainly been a bumper year to date and a candidate driven market!

Over the last 6 years, our Fintech industry has grown from AUD250m in 2015 to AUD4Bn in 2021.  Based on findings from Findexable 2021 global Fintech rankings, Australia has jumped two places in the global fintech rankings and now ranks 6th in the world and 2nd in the Asia Pacific region. This surge has brought about new Fintech start-ups across: buy now pay later (BNPL), share trading, foreign exchange, accounting automation, home loans, financial credit checks and credit scoring as well as new financial investment firms.

Global interest in Australia’s Fintech industry will continue to grow after Square recently acquired BNPL firm Afterpay for $39bn. This goes to show that overseas companies are certainly paying close attention to the Australian Fintech industry.

Although we have now gone into a 2nd year of lockdowns across the country, the fintech recruitment industry is surging forward with no signs of softening. I can’t recall a market quite like this for some time now!

 

 

Senior Level Industry Appointments 
  • Ann-Mary Rajanayagam, placed by Kapital Consulting, joined JANA as the Head of Technology after returning from a lustrous banking career in New York City.
  • Sam Hallinan was appointed the new CEO of Schroders Australia moving across from Nikko Asset Management in April.
  • Allison Hill has been appointed the new Chief Investment Officer at QIC in Brisbane
  • Shantell Wiliams leaves Fintech Purple Group to join Tic:Toc as their new CTO
  • Tim Larcos named as new CTO at PwC
  • John Sutherland (2020 CIO of the year) recently joined HammondCare as their new CIO

  

Kapital’s Funds & Investment Management placements:
  • Chief Technology Officers (CTOs)
  • CIO
  • Head of Technology
  • Multiple Enterprise Architects and Heads of Enterprise Architecture
  • Information Security Manager
  • Product Manager
  • Head of IT Infrastructure
  • Principle Identity Architect
  • Workplace collaboration Lead
  • Application Support
  • Multiple Business Analysts and Data Analysts
  • Investment Data Analysts
  • Data Migration Developer
  • Equity Quant Developers
  • Multiple system and Automation Testing profiles across Payments, CRM and Banking
  • Data Centre Project Manager
  • Cyber Security Architects
  • Service Delivery Managers
  • Multiple Project Managers across Security, Cloud, Applications, Infrastructure and Investment Systems
  • Solution Designers
  • Multiple DevOps Specialists (mainly Azure and AWS, not so much GCP)
  • Multiple .Net, Java & Python Developers
  • Mulesoft Developers
  • Mobile Developers
  • Desktop Support Analysts

 

Salaries and threats

We spoke about this in our last newsletter and it continues to be a very hot topic. Last year we faced more counteroffers than ever before as well as candidates, too nervous to make the switch to a new role. Now as Covid and working from home has become the new norm, the market is feeling a lot more comfortable to look for new opportunities. This is largely due to client demand but also the comfort that companies now have a solid Covid onboarding process for new hires.

There is such high demand for technology skills across Australia, that we are witnessing candidates with 2-3 offers on the table. It is certainly a candidate driven market and we have seen first hand where candidates with niche technology skillsets, are being offered anything from 20-35% pay increases to leave their current roles.

Candidates are being snapped up very quickly, offered high salaries and in many cases sign-on bonuses. There is an uptake in clients willing to look interstate and also overseas for top talent. Companies have definitely embraced this throughout 2021 and have been onboarding new hires from further afield.

What we are seeing for 2022

It is clear that the demand for top talent, will continue for the remainder of 2021 and certainly well into 2022. There has been huge demand for Development and DevOps skillsets with ~95% of our clients looking for experience in one or both of these verticals. Data Analytics still in high demand and a recent surge for Mobile Development and Mulesoft Development expertise. We will see the demand for Project Services skyrocket throughout 2022 with the relaxing of Covid restrictions and the knowledge that return to work is back on the horizon.  Simply put, there are companies, not comfortable taking on critical initiatives with project teams working from home and not in the office.

The growth we have experienced in 2021 was much needed across many industries and we will see this continue to ramp up through 2022 for all our clients. If you would like further information on the market or roles we are running, please do not hesitate to reach out to us at info@kapital.com.au

Till next time!