The Post: Client Relationship Executive, Ulster Community Investment Trust (UCIT)
The Post Holder: Peter Smyth
HOW I BECAME A CLIENT RELATIONSHIP EXECUTIVE
A background in accountancy has allowed Peter Smyth to pursue a successful career in the financial sector.
Give a brief outline of your career to date.
I joined Pricewaterhouse as a trainee accountant back in 1982. I then moved into industry as an accountant before beginning my banking career in 1989.
I spent 28 very happy years with Northern/Danske Bank fulfilling various roles including Head of Invoice Discounting, Business Banking Manager, District Manager and finally Head of Risk & Operations, Personal Banking.
I took early retirement from Danske in June 2017 and joined Ulster Community Investment Trust (UCIT) as a Client Relationship Executive. In this role I am able to draw on many of my banking skills as UCIT is a charity which provides loan finance to the community and voluntary sectors.
Often called the Third Sector, clients include charities, sports clubs, local enterprises, social enterprises and faith-based organisations. Any group that wants to make a positive social impact in its local community is a potential client.
UCIT also manages the Small Business Loan Fund on behalf of Invest Northern Ireland.
What was your favourite subject at school?
That would be a toss-up between Maths and English.
Did you go on to further/higher education, if so what did you study and where?
I always had an interest in finance and banking, however, while many of my school friends joined the bank after O Levels, I completed my A Levels and then pursued an Economics and Accounting Degree at Queen’s.
How did you get into your area of work?
The training at Pricewaterhouse was second to none and as I began to visit a range of clients, putting my training into practice, I really enjoyed the variety. Having spent a few years in industry I had the opportunity to move into banking. I always enjoyed both the interaction with customers and assessing their suitability for a loan.
Making a lending decision comes down to not only the affordability of a loan, but also the quality of the management running the business. These must go hand in hand.
Is this what you always wanted to do?
I can’t say when I was choosing my A Levels that a career in lending was a burning ambition. In fact I received an offer from Stranmillis College to pursue a career as a PE teacher. I decided to keep my options open, however, and thought that as I got older maybe being a PE teacher would be less attractive.
I decided, therefore, to follow a career in banking and when I retired last year I saw the UCIT Client Relationship Executive job advertised. I felt this would utilise my lending skills while at the same time challenging me to develop my expertise in a totally different sector.
Were there any particular essential qualifications or experience needed?
While a finance-related degree was preferable, the essential experience was managing a portfolio of clients and the ability to put together a lending proposition. Having had a strong finance and banking background, and many years’ experience of working with a wide range of clients, it gave me a really good foundation to build on.
Are there alternative routes into the job?
The expectation today is that most applicants will have a business-related degree although in banking there are still good prospects for graduates prepared to study further and build upon their academic achievements.
In my current role, knowledge of the Third Sector would be a big benefit, but it is possible to develop this as I have.
Good interpersonal skills will take you a long way in most professions.
What are the main personal skills your job requires?
The main skills are the ability to communicate well with a wide range of people and groups, together with being able to quickly interpret a set of accounts and decide upon the affordability of a loan.
What does a typical day entail?
There is no ‘typical day’ which is one reason I find it so enjoyable. I try to spend as much time as possible out meeting clients and seeing at first hand the great things they do in their community. This brings me into contact with a whole range of interesting people and their communities.
I also have the opportunity to ‘spread the word’ among politicians, representative bodies and local councils about the benefits of a UCIT loan.
What are the best and most challenging aspects of the job?
Undoubtedly the most satisfying element is the knowledge that you are really making a massive difference to many different community-based organisations – enabling communities to enable themselves. Many of the people I deal with are volunteers who give sacrificially of their time to help others. UCIT’s loans make a significant contribution to their invaluable efforts.
The most challenging aspect was the adjustment from the banking/private sector, where things are very much ‘cut and thrust’, and decisions are taken on the spot, to the Third Sector where all significant issues are brought back to the Directors or Management Committee for a decision.
Why is what you do important?
It’s important because a UCIT loan will enable many voluntary groups to proceed with their projects when other more traditional forms of finance may not have been available.
Quite often such groups need to show grant funders that they have access to match funding and that is where UCIT can help. That makes the job very rewarding.
What advice would you give anyone looking to follow a similar career path?
No matter what career you choose you need to be passionate about it. While financial reward is important it needs to be balanced with ensuring that you actually enjoy what you do every day. You must also enjoy working with a wide range of people who may see things very differently to you, so you need the ability to adjust your style.
Talk to those who are more experienced and fully explore your choice in as much detail as you can.
If you weren’t doing this what would you like to do?
Honestly, I don’t have too many regrets. I try not to look back unless it helps me go forward, life is too short for that. I used to dream about being a dentist, but I had neither the intellect nor the stomach for needles.
What is the one piece of advice you would give to yourself on your first day?
Be the very best at whatever you choose to do and be yourself.
Describe your ideal day off.
Watching my favourite football team Leeds United at Elland Road (hopefully this will be their year).
And finally, what’s the key to any successful job search?
Do your homework, prepare well and don’t be afraid to ask those closest to you whether they can honestly see you in a particular role. If you find out you’re in the wrong job, cut your losses and start again.