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At Schroders, we advocate for the squiggly career approach to progression. There are many ways our people can progress their careers, from in-role advancement, to taking a new role in the firm, and harnessing new experiences to grow their skills.
Dhaval Patel, Compliance Analyst, has worked in our New York office for six years. Find out about his transition from portfolio accounting to compliance. Plus, how being away from the office during Covid steered him to career coaching to help expand his network and plan his progression.
Tell us about your move from Portfolio Accounting to Compliance
I stayed in my first role at Schroders for just over five years and was ready for a change. But I wanted to stay, as I like that it’s a big enough firm to move internally - there’s always room to grow.
I worked on the same floor as Compliance and always had interactions with the team, like running into them at the coffee bar. After someone left the team, I looked at what they were after and realised I had a lot of the skills needed for the role. Compliance tends to touch every department, so I already understood their processes and role in helping a smooth-running organisation.
Did you need to reskill for the change of role?
I had to read up on some of the main regulations that affect our business in New York. Our managers rely on the team to interpret rules and know what we’re talking about. Our team is always asking questions and regulations often change, so you need to be on your toes.
When I moved roles, it helped that I knew how things worked internally - it flattened the learning curve. Currently, we’re updating procedures around sharing files on SharePoint, and with my experience in Operations, I could suggest a more automated system.
What advice would you give to someone looking to change roles?
Always read the job description. There are some skills that crossover. Don’t be afraid to ask HR what the people who are hiring want.
Even if something isn’t available, but there is a department you want to work in, reach out to people in that department and ask what skills they have.
Have you had a mentor to help guide you?
I took part in Career Coaching. I tended to work in my own bubble and didn’t know how to go about making connections outside of my network. During lockdown I missed those chance, informal meetings and discussions you have in the office. I saw an opportunity to join a career coaching session and I’ve really seen the benefits. It showed me how to plan my career goals and give me an idea of where I wanted to be.
At Schroders, there is a collaborative culture. I’ve learnt that you can talk to people, and managers are approachable, open, and happy to share their experiences with you.
Have you ever received feedback that has really helped you in your role or career?
Yes, definitely. I applied for an internal role that I wasn’t quite ready for. The hiring manager was really helpful in giving me guidance on how I could read up and learn the skills needed for the role so when another opportunity came up- I’d be ready.
This feedback also showed me that if you want to change role, find people in the department who are happy to share their experience and give you a feel for what the role is and steps to get to that role.
Whose responsibility is career progression?
First and foremost, it’s your responsibility. But your manager and HR should also play a part.
If you make your aspirations known to your manager, they can guide you and put you in touch with the people inside the company that can help.
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