Investment Operations Round Table Melbourne
Kaizen Recruitment was proud to host our latest Investment Operations Executive Roundtable in Melbourne, bringing together senior operations leaders from across the investment management industry for a candid and insightful discussion on the evolving landscape of investment operations.
We’d like to extend our sincere thanks to the leaders who participated, representing IFM Investors, Generation Life, L1 Capital, Centuria Bass Credit, Neuberger Berman, VFMC, Qualitas, Equity Trustees, Bell Asset Management, Bennelong, and Cooper Investors.
Key Themes and Discussions
1. Beyond the Cost Centre: Strategic Value of Operations
A key theme of the roundtable was the shifting perception of investment operations. While traditionally seen as a cost centre — often only noticed when things go wrong — many leaders are actively repositioning their teams as strategic contributors to business outcomes. The conversation highlighted how operations professionals are adding value through innovation, risk mitigation, and cross-functional collaboration.
2. AI Adoption: Bottom-Up Energy vs. Top-Down Caution
The emergence of AI continues to create tension between innovation and risk. Younger team members are enthusiastically experimenting with AI tools to increase efficiency and output, but many organisations remain “cautious followers”, and AI adoption remains in its infancy across much of the industry. Privacy concerns and the need for data governance have led to the introduction of AI policies and frameworks, but the challenge remains: how to strike the right balance between control and innovation.
3. Operating Models Under Pressure
With tighter fiscal conditions and headcount constraints, most teams are operating with limited capacity. This is particularly impacting the ability to build dedicated data teams or enhance in-house analytics. As a result, many firms are exploring alternative models, including outsourcing and tech-enabled solutions, to lift capability without a significant cost burden.
4. Custodians: Standardised Service, Rising Risk Aversion
Participants noted a trend among custodians towards increased risk aversion, with a reduced willingness to offer bespoke services to clients. This one-size-fits-all approach is creating friction for funds with more complex needs and has led some operations teams to consider alternative service models.
5. Offshoring: Impact on Junior Talent
The continued trend of offshoring has led to a noticeable decline in junior roles across custodians and fund administration firms in Australia. As a result, many attendees highlighted the growing difficulty in sourcing talent with broad, end-to-end operational experience. Some firms have tackled this by functionalising their teams, and cross-training across operational functions to build depth across teams.
6. Talent Mobility: The Front Office Challenge
An interesting discussion emerged around the career mobility of operations professionals. While many leaders said they proactively support team members seeking front-office progression, they observed that few individuals are willing to make the personal commitment to acquire the technical and behavioural skills needed to make the leap. The desire is often expressed, but the required investment in development remains a barrier.
7. Market Data Costs Under Scrutiny
Market data fees continue to come under pressure, with operations teams often tasked with overseeing and optimising these costs. The group discussed strategies to improve cost transparency, consolidate usage, and ensure value for money — a growing priority as budgets tighten.
Final Thoughts
The roundtable reinforced that investment operations teams are at the centre of many of the industry’s most pressing challenges — from AI and data to resourcing and cost control. What was clear is that the future of operations will belong to those who can marry innovation with governance and bring a commercial mindset to problem solving.
More Themes Explored
We also hosted an Investment Operations Roundtable in Sydney—bringing together industry leaders for a candid discussion on current challenges and opportunities. This session surfaced a unique set of insights that both align with and diverge from broader market trends.
Curious about what’s consistent and what’s changing? Read the full roundtable recap here.
INVESTMENT OPERATIONS ROUNDTABLE SYDNEY
Annual Market Update
Each year, we release a comprehensive market update alongside a refreshed salary guide tailored for investment operations professionals. It’s designed to help both employers and candidates stay informed on current trends, compensation benchmarks, and emerging priorities in the space.
You can read more on this in our salary guide below
INVESTMENT OPERATIONS SALARY GUIDE
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with our specialist investment operations and fund accounting team:
As a multi-award-winning financial services recruitment firm, we are committed to helping clients and candidates navigate industry trends, challenges, and opportunities with confidence. Whether you are looking to hire exceptional talent or seeking your next opportunity, we are here to help.
Based in Melbourne and Sydney, Kaizen Recruitment specialises in financial services recruitment across funds management, wealth management, superannuation, investment consulting and insurance. If you’d like to discuss candidate career drivers and the current state of the market within the financial services recruitment landscape, feel free to reach out to us with your details below.
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