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In the competitive world of alternative investments, securing a top executive role such as CFO or COO within a fund demands more than just technical expertise. Building a robust professional network and seeking out mentorship opportunities can be pivotal for your career progression.
Khuram Bajwa, partner at One Ten Associates, believes there are three main pathways to achieve a CFO/COO role: internal advancement, lateral moves, and strategic networking. This article explores these pathways and looks at the importance of cultivating strong professional networks and mentor/mentee opportunities to help aspiring finance professionals with their career progression.
Timing and Performance: One pathway to becoming a CFO or COO within a fund is internal advancement within your current firm. If you’re part of a fund that’s performing well, staying visible and engaged is key. Timing is also crucial - being in the right place at the right time can lead to significant opportunities.
Broad Experience: Seek diverse experiences within the fund. Ensure you’re involved with and understand both the corporate and fund sides of a finance function, and push for exposure to other areas, such as tax, IR, and transaction support. As the fund travels through different phases of a fund cycle, it is key to have access and experience in each stage of that journey. A holistic understanding can make you a more attractive candidate for those c-suite roles.
Time for a Change: Sometimes, career progression within your current role may stagnate. Being open to lateral moves can provide new experiences and skills, as well as a new network of industry professionals. Moving to a similar position at another firm can refresh your career trajectory and keep you on the path to top leadership roles.
Value-Add Areas: Focus on gaining exposure to high-value areas of finance, such as working with lawyers on structuring or engaging in strategic financial planning. These experiences can differentiate you from other candidates.
Visibility: Stay engaged with your professional network. This visibility ensures that when a suitable opportunity arises, you’re already in the minds of those who can help you secure it.
Industry Engagement: Participate in industry events, webinars, and forums to stay connected with key industry players. This proactive engagement keeps you informed about potential openings and trends in the market.
Networking is a vital component of career growth in any sector. For finance professionals, nurturing a strong network means not only being visible to key industry players but also staying informed about potential opportunities and having influential advocates who can vouch for your expertise, additional skills and work ethic.
Mentorship provides guidance, support, and valuable insights from experienced professionals. Having a strong mentor is priceless as they can offer advice on career decisions, help navigate challenges, provide a sounding board for ideas, and introduce you to others in the industry. For aspiring fund CFOs or COOs, mentors who have climbed the same ladder can be particularly beneficial.
While building a strong network and using mentorship opportunities is essential for those looking to climb the corporate ladder, knowing how to effectively use these professional relationships and connections can be a game-changer.
Proactive Engagement: Engage actively with your network. Attend industry events, participate in relevant online forums, and seek out opportunities to connect with leaders in your field. Building these relationships can lead to valuable opportunities and introductions.
Value-Add Contributions: Demonstrate your value within your network by sharing insights, offering assistance and contributing to discussions. This will position you as a knowledgeable and helpful professional, enhancing your reputation and increasing your visibility.
Regular Check-Ins: Maintain regular contact with your mentors and key connections. Periodic check-ins help keep your relationships live and ensure you're top-of-mind when opportunities arise.
Whether progressing through internal advancement, lateral moves, or strategic networking, the path to top leadership roles, such as CFO and COO, is paved with thoughtful engagement and a willingness to embrace new experiences.
Climbing the ladder requires a combination of proactive career planning, continuous learning, and connecting with others in the industry. By remaining adaptable and building meaningful professional relationships, aspiring candidates can position themselves at the forefront of their industry for success.
At One Ten Associates, we specialise in recruiting talent at all levels of the alternative investment sector. If you are looking to transition into a leadership role, contact us today to arrange a consultation.
