Shruti Gadodia works as a senior analyst at JP Morgan in the securities service sector. I pursued my bachelor’s degree in financial markets from H.R. College of Commerce and Economics and I graduated in 2017. I was always interested in entering the financial services field and JP Morgan was like a dream come true. I have been working with them for about 4 or 5 years and it has been an amazing experience. During my graduation, I did a certified financial planner (CFP) course side by side in order to be proficient in financial planning framework, gain more knowledge and enhance my career opportunities. I am currently doing CFA to get a better role in the investment bank and greater job prospects.
What are your responsibilities? What are your day-to-day tasks?
I have the title of senior analyst and I work in the securities service sector which is one of the many segments of an investment bank. Basically, JP Morgan acts as a custodian for many institutions, so my job mainly involves connecting with clients and US entities. Also, ensure they are getting maximum satisfaction with JP Morgan. I conduct service review meetings with clients, addressing their grievances and providing them with the service they look forward to. I don’t interact with retail clients but I get in touch with people from insurance companies, government entities and treasury departments.
We help institutional investors, traditional and alternative asset and fund managers, broker-dealers and equity issuers to meet the demands of the dynamic market. We manage the safekeeping and servicing of complex investments with custody platforms designed to provide scale, automation and focus on asset management.
What was the selection procedure to get into JP Morgan?
During my third year of college, JP Morgan visited our college for placement opportunities. I had no experience, just basic excel skills and didn’t know much about the financial services sector either. Initially, we had an interview round, there were about 40 applicants for the same. The interview had 3 rounds, there was no group discussion involved.
During the interview, they explained to me the different roles and responsibilities and how the company functions, they tested basic knowledge of financial markets and products. Since I had some internship experience working with Reliance Capital, I had a basic idea about asset management which is the practice of increasing our wealth over time by maintaining, acquiring and trading investments that have future growth potential.
After this round of interviews, the next one focused on technical analysis and human resources. Technical analysis involves identifying investments and identifying trading opportunities in price trends and patterns in various charts. The final round was with the onshore team and they tested my communication skills and analyzed if I was the right fit matching the job and the culture of the company.
What gave you an edge over other applicants while applying for the job?
I was always intrigued by finance and knew I wanted to pursue something in that field only which is why I targeted internships along the lines of the banking sector. I was an intern at Reliance Capital as well as in a technical analysis horizon which made me understand the structure of the company and the different profiles that one could get as a graduate.
Internships add a lot of value and getting into the top companies through networking and contacts is also a surplus, people putting you down as a referral really helps. Since they try to fill most of their positions by internal vertical movement having some recommendations adds value.
What were some of the challenges that you faced and how did you overcome them?
Since JP Morgan is a very big organization and there are multiple queries coming in from clients we need to have good networking skills within the organization and be able to navigate across different departments. Even if you’re unaware of the right people to reach out to, just take advice from your colleagues or friends. Basically finding the right person to reach out to was the challenge I initially faced. But eventually, when I built a network and good relationships within the management, my work became more efficient.
Is CFA an important course to get into Investment Banking?
Not many investment banks pay a lot of attention to CFA but I would recommend doing this course as in India a lot of recruiters still pay attention to MBA and CFA. I think it does add some value to your resume. If you want to get into IB or asset management roles, it definitely gives you an edge over other applicants.
What advice would you give students if they want to pave their way in the finance sector?
Internships are a must, even if you don’t know which field you want to get into, exploring different opportunities is essential. There are mainly online courses as well and definitely have a profile on Linkedln. It is very helpful in getting internships as when you build your profile and grow your connections, people would view your page and if they feel you have the right skills and would be a good fit for their company they would reach out to you. When you connect with people, understand what their job is all about and you could apply for whatever job opening comes your way. During my college, I tried understanding and exploring the stock market, made my own reports on it by analyzing stocks, made an academic research report in my final year and carried those reports for my interview which depicted my interest in finance.