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Award challenges future leaders in financial services sector


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18 February 2011: The Financial Services Council and Deloitte today issued its sixth annual challenge to young professionals in the financial services sector to submit ideas on five key issues facing Australia’s $1.7 trillion wealth management industry.

Launching the FSC/Deloitte Future Leaders Award, Sarah Woodhouse, Wealth Management leader at Deloitte, said: “Each year our Future Leader candidates push the envelope for the industry. And each year we celebrate the quality and calibre of our ‘Future Leaders’. In return our participants tell us how much they benefit from the networking and the mentoring that is integral to the challenge.

“FSC/Deloitte Future Leaders Award is a really exciting program, as the issues faced by the financial services sector impact all Australians,” Ms Woodhouse said.

John Brogden, CEO of FSC said: “As our $1.7 trillion industry continues to grow, assisting young professionals mature into future leaders becomes increasingly important.

“Our award combines the ‘can do/will challenge’ ideas of youth with the experience and wisdom of our senior executives and mentors who bring their knowledge of the industry to the challenge.

“Young Australians need opportunities like this to present their ideas to senior industry leaders in a structured paper,” Mr Brogden said.

The aspiring leaders of the FSC’s full members as well as ASIC, APRA and AUSTRAC, are asked to consider ways the industry can address the following five complex topics:

  1. Using technology to make advice more affordable;
  2.  Develop a strategy to implement an Asian region funds passport;
  3. Life insurance and the Super System review;
  4. Lifting the superannuation burden from employers; and
  5. The impact of multiple trading platforms on liquidity, transparency, price discovery and the cost of execution.

Gideon Lipschitz, from Colonial First State, was the 2010 Winner. His paper, Moving from a model of disclosing risk to understanding risk, looked at measuring and comprehending risk in financial services. He said of the 2010 Future Leaders Award that it challenged his own thinking as well as providing a platform to challenge to the thinking of the financial services industry as a whole. He said: “Writing my research paper provided me with exposure to experts throughout my organisation, and allowed deep discussion of the current and future challenges facing the industry.”

Prizes

Deloitte will award the overall winner an overseas trip, including four nights accommodation in an appropriate city, where the winner will be mentored by a Deloitte global leader. The winner will also receive a complimentary registration to the Financial Services Council Annual Conference to be held in August 2012, and he or she will be invited to consider a four week secondment to work within the Financial Services Council policy team. In addition the finalists for each topic will be given the opportunity to present their research papers at a Financial Services Council Professional Series Policy and Research briefing.

2011 Future Leaders’ Topics

Using technology to make advice more affordable: How can Financial Advisory networks make better use of technology to increase access to affordable advice for more Australians?

Global markets – an Asia Region Funds Passport: Develop a strategy for the implementation of an Asia Region Funds Passport. The strategy should focus on the tactical steps to bring the Passport to fruition, including the role played by industry, associations, government and regulators.

Life insurance and the Super System Review: What opportunities and challenges do the changes announced in the Super System Review present for the life insurance industry? Will it make a difference to Australia’s underinsurance problem?

Lifting the superannuation burden from employers: How could the burden of superannuation be lifted from employers? What will be different and how should the world post ‘SuperStream’ look?

The impact of multiple trading platforms: Assess the impact of multiple trading platforms being introduced in the Australian market. How will multiple trading platforms impact liquidity, transparency, price discovery and the cost of execution?

Judges:

Members of the judging panel for 2011 include:


Philip Barlin - Executive Manager, Group Taxation, Colonial First State; Monique Bell - Associate Director, Head Dealer – Listed Equities, Macquarie Bank; Robert Bergin - Head of Group Insurance, AXA Australia; Greg Cooper - Chief Executive Officer, Schroder; Brendan Daly - Head of Product & Strategy, MLC; Lachlan Davis - Head of Active Quant Funds, Australia Equities, AMP Capital Investors; David Dixon - Global Chief Investment Officer, Colonial First State Asset Management; Michael Dwyer - Chief Executive Officer, First State Super; Grahame Evans - Group Managing Director, Professional Investments Services; Melanie Evans - Head of Superannuation & Retail Investments, BT Financial Group; Greg Hansen - Head of Strategic Research & Advocacy, Colonial First State; Steve Helmich - Director, Financial Planning, Advice & Services, AMP Financial Services; Chris Jansen - Acting Director, Wealth Management Products, AMP Financial Services; Nigel McCammon - General Manager, Client Services, Colonial First State; Greg Miller - General Manager, MLC; Michael Paff - Director, Wealth Protection Products, AMP Financial Services; Jacqui Sullivan - Managing Director, International Distribution, International Business, AMP Capital Investors; Tim Tez - Head of Individual Life Product, AIA Australia; Geoff Weir - Director, Australian Financial Centre Task Force; Maria Wilton - Managing Director, Franklin Templeton Investments

 further information, or to download an application form, please visit www.fsc.org.au or www.deloitte.com/au/fsi

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Contacts

Name:
Louise Denver
Company:
Deloitte
Job Title:
Director, Corporate Affairs & Communications
Phone:
Tel: + 61 2 9322 7615, +61 4 1488 9857
Email
ldenver@deloitte.com.au
Name:
Sara Rich
Company:
Financial Services Council
Job Title:
Finance Media Adviser
Phone:
Tel: +61 2 8235 2520
Email
srich@fsc.org.au

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