Position profile: compliance manager
Dion Silvy A Fin, Issuers Adviser, Australian Securities Exchange
How did you get to where you are today?
I undertook a Bachelor of Finance at Adelaide University, which I completed in 2000. I moved to London in 2002 and worked in a variety of accounts-based roles for two years.
I returned from London in late 2004 and found temporary roles with KPMG and BT Financial Group before securing a position with Computershare Investor Services Pty Ltd – a provider of registry services. This position gave me a solid understanding of the roles undertaken by various market participants and also direct contact with representatives of a large number of listed companies.
In May 2006 I took a position as an Issuers Adviser with the Australian Securities Exchange. I was attracted to this role as it offered an even greater insight into the inner workings of the Australian market. This role provided me with the opportunity to meet a number of people from a diverse range of backgrounds in the business community and to learn more about how they interact in the marketplace. This role gave me an understanding of what it takes to list a company on the ASX and what obligations a company must continue to meet once it has
been admitted to the official list of the ASX.
What does a typical day involve for you?
A typical day starts with the reading of the business sections of several major newspapers. Media articles are checked to ensure that all information reported in the press has previously been released to the market via ASX.
My primary role is to supervise the activity of ASX listed companies with Adelaide as their home exchange. This involves the review of all announcements released to the market to ensure compliance with the ASX Listing Rules. I offer advice to listed companies to assist them with their compliance obligations and manage disclosure issues for companies undertaking corporate actions. This can involve the review of documentation, consideration of waivers from ASX listing rules and the management of trading in the securities of the
companies.
My role also requires that I assist companies seeking to list on the ASX to ensure that they comply with the admission requirements of the ASX Listing Rules.
What interpersonal skills are essential for your role?
To succeed in a role such as this you need to be a good communicator and pay strong attention to detail. An Issuers Adviser must have the ability to remain calm under pressure and make effective decisions. It is also extremely important that advisers are diligent and honest to ensure that investors have confidence in the integrity of the market.
What sort of person is good in this role and this type of organisation?
People working in a role such as this need to have a strong work ethic and good time management skills. I think it is important that an adviser be approachable and have a friendly demeanour because the ability to interact with people from a wide range of backgrounds is essential.
People with an analytical nature who have the ability to absorb large amounts of information and extract and summarise the key issues are likely to be well suited to this type of role.
People with a legal background are likely to be successful in this type of role because market supervision involves the enforcement of the ASX Listing Rules. Advisers are also often asked to consider submissions prepared on behalf of companies by law firms regarding the interpretation of the ASX Listing Rules and therefore a legal background can be of benefit. People from other disciplines such as commerce and finance would also be well suited for this type of role.
What do you find the most rewarding about your current role?
The most rewarding aspect of my role is the opportunity to learn about different areas of the market for securities in Australia, and to interact and network with individuals from a diverse range of backgrounds both within the ASX and externally. I believe that knowledge of what it takes to operate a complex market such as the ASX and an understanding of what factors contribute to how the market performs is completely invaluable.
What do most people find challenging/difficult about a role like this?
The most challenging aspect of my role is making decisions which are time-critical. When presented with a disclosure issue in an open market, advisers are required to assess complex issues in a very short time frame. Disclosure issues can have the potential to affect the value of a company’s securities and advisers must take the necessary action to ensure that the market is fully informed. This may involve effecting a trading halt or suspension of trading in a company’s securities.
What were you looking for in an employer when took your current role?
I was looking for an employer who could offer me a work environment that was challenging and the opportunity to learn new skills and improve upon existing skills. I was also keen to secure a role that offered the opportunity for advancement within the organisation and the chance to learn more about regulation of the market and how companies operate in the marketplace.
What types of benefits are essential to attract the best people?
Employers should support and encourage further studies for all staff, and benefits such as study leave and paid maternity/paternity leave should be available to employees. Ensuring staff are fairly remunerated for their performance through the use of short term and long term incentives is also essential. Programs such as Employee Share Option Plans that allow employees to elect to receive equity in the business they work for are attractive incentives for staff as they encourage staff to perform at a higher level.
What other jobs and career paths could you consider taking in the future?
I believe that the skills I have learned during my time spent with the ASX will put me in a strong position to consider a wide range of roles within the financial services industry. I’m confident that future career paths could involve employment with a broking or corporate advisory firm or perhaps employment with a listed company.
How do you keep up to date?
I read the financial press every day. I regularly visit internet websites such as the RBA, ASIC and of course the ASX website. The ASX also has an intranet which provides useful updates for staff. My studies through Finsia also ensure I keep up to date with industry developments.
Are you considering any study or professional development in the future?
I am currently undertaking a Diploma of Applied Finance & Investment.
I am considering a number of further study options, including an MBA, a company secretarial course and I am also considering doing an IT-related course involving subjects such as web site design and e-commerce.
Are you involved with any professional associations, and why?
I became a Finsia member to take advantage of decreased fees for study and to attend upcoming events hosted by Finsia. I am a member of the Finsia South Australian Membership / Professional Development Advisory Committee and the Finsia Practitioners Advisory Committee.
I am also a founding member of the Finsia Young Finance Professionals in South Australia.
What tips for success can you give for an aspiring compliance manager?
Be persistent. Continue to target the types of organisations that you wish to work for and eventually you will succeed.