Careers in Funds Management – Nick Monsbourgh

Fixed Income markets professional, living in Melbourne.

From Kyneton, Central Victoria, schooled at Braemar College where inspiration brought the (fictional?) story of Picnic at Hanging Rock, to Joan Austin. “Miranda, Miranda”, yes, that one. There’s an X-Files episode coming up to finally solve it.

Round ball nut. The Socceroos’ Dutch godfather, Guus Hiddink, will take Chelsea to another Champions League title. I never bet on my favourite sports teams for good reason.

Oval ball band-wagon supporter of Geelong – “The greatest team of all.” Just listen to the song, it’s true!

Lover of all things Melbourne, and pretty much everywhere else in the world.

Overview of your career to date

I returned from London to start ‘a life of normality,’ and a Master of Finance part time in 2005. I started working for Merrill Lynch. Now there’s a name from a different era. The Investment Management business I worked in was bought by BlackRock.

At a very similar time to the completion of a Master of Finance in June 2008, I moved from BlackRock to Victorian Funds Management Corporation (VFMC) who were going through a significant strategic change, in-housing assets under management and implementing a new investment system.

Building out portfolio valuation and front office system analytics at VFMC was a building block to moving in to the Debt and Absolute Returns group in early 2010, led by Paul Murray.

Following, nearly five years to November 2014, I worked alongside Nick Tribe slowly losing my grip on oval ball supremacy, as my beloved Cats were eroded by Tribey’s all conquering Hawks. We also actively managed 7Bn of diverse Fixed Income and Cash portfolios.

So many candidates we work with aspire to move from the Back or Middle Office to a Front Office position. How did you make it happen?

Study and then chat with portfolio managers, traders, risk analysts.. the CIO! For example, I asked the Head of Aussie equities at BlackRock if there was anything they wanted researched for my Master’s thesis, this had great results. I was fortunate enough to have a reason to deal with PMs at VFMC, because I had systems and derivative valuations expertise they needed. Find a way to chat to them, even on a social level. I used soccer a lot, for example.

“Educate and engage.”

How have you approached your career development, what are your key learning’s from your journey so far?

I’ve had modest expectations, but I learnt if a realistic career opportunity presents absolutely back yourself. People generally don’t believe in you unless you do. At the right time, show a lot of confidence when you feel just a little, even if it doesn’t come easy. Then promptly go back to listening and learning more than you speak.

“Listen and learn more than you speak. Seize real opportunities when they present, they don’t come often.”

Candidates we work with always appreciate career advice. If you could give 1 piece of advice about developing a career within the Funds Management Industry what would it be?

Talk to a variety of people above you, below you, around you and have a genuine interest in them. Be open to hear their feedback about your strengths, weaknesses and opportunities.

You had a great position with VFMC, assisting with managing a fixed income portfolio of $7B. So many candidates we meet with would love to be in your position. What made you decide to quit / leave your position and travel?

“Imagine you’re ten years older, 43, looking back on this decision” – anon

In November 2014 I left VFMC to take 12 months out travelling the world. This understandably came as a surprise to some. ‘Why would one break career trajectory from back office roles to operating with significant autonomy to manage a diverse range of Fixed Income portfolios.’ I worked alongside an industry respected Senior Portfolio Manager and left a market leading institution with impressive results, a good culture and access to resources from the biggest names in asset management and hedge funds globally. It was a tough decision; it’s often easier to accept the status quo.

Travelling as a ‘grey nomad’ is also an attractive idea to me, holidaying with a young family is attractive to me. Travelling solo at 33, that was attractive to me! Very content I did it. Tick, done.

It’s individual, a value choice, timing, risk appetite to life. I think it takes an understanding of where your career is at, what you have to offer, and where you want to go with your career. I felt very comfortable with all that.

What was your best travel experience and why?

Here’s two quite different ones:

Winning a race-to-the-bottom volcano boarding in Nicaragua. Pure adrenalin fun and I’m competitive!

Learning Spanish in Central America. Speaking another language is very culturally rewarding and informative.

See link to Nick’s travel blog www.thirtythreeandonethird.com

Are there any life lessons you have taken from your travels that you can apply to the next stage of career.

Communism is bad and Capitalism is good, we just need Cuba’s education system and the ‘Donald Trumps’ to be fictional.

What are your plans now?

Take my career to the next level in Melbourne, and build a record of success. Melbourne, and surrounds, is a great place to be, I want to enjoy and take advantage of more.

Kaizen Recruitment combines invaluable industry experience with specialist recruiting services. Turn to Kaizen when you need assistance with recruitment in financial services. Please call +61 3 9095 7157 or submit an online form.

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