Am I or the RC right ? Banking industry question

[New POD]

Before I start this thread, I must say sorry to "Shirt" as I go on about work too much, but I'm intrigued about the validity of an interesting approach this week.

So Lean and 6 sigma. The automotive world has been attempting it since before either was given those names, so for the last 25 year I've been 'doing' both.

Contracting rates in "Improvement" roles in:

automotive are £25-30 an hour
aerospace are £30-£40 an hour

Was contacted Monday by an RC about a Lean Process Engineer in a bank.
3 locations
48 week ltd company contract

Rate (upto?) £600 a day

So I question the need for banking experience, or IT knowledge (I have neither)

No, apparently, they understand the transferrable skills.

I said, you can put my CV forward, (after I've changed it a bit), but I'm very sceptical.

So she says, that I shouldn't be, because I have all the skills (buzz words, she found via a quick google search more like).

So, they have my CV, and I assume it's heading for the bin.

Anyone in banking like to say if I'm right to be sceptical?

As an aside, I told my wife, and she says I'm just greedy, and I should have said NO. you can't put my CV forward.

[randlemarcus]

Will you damage your reputation in an industry you don't currently work in, either by leaving your CV on the table, or, worst case, by making a bollix of the job if you get it?

[worsy]

In my experience process is process. Most process type consultants have very little real IT knowledge over and above switching on a PC. I'd be surprised if your cv was binned but you might struggle against a candidate who has worked in an IT environment.

[Sharted]

I work in a banking environment and use lean/6 sigma principles to process review/improvement.

Would suggest that no industry experience would mean that you'll need a shed load of common sense but other than that very transferrable and relevant/topical.

[New POD]

randlemarcus said:

Will you damage your reputation in an industry you don't currently work in, either by leaving your CV on the table, or, worst case, by making a bollix of the job if you get it?

Worst case, you leave that assignment off CV and go back to an industry you know, and don't ever mention the fact ever again. If anyone asks why the 6 month gap, you make up an excuse about having spent 6 months helping a mate build a house, or something equally lame like half a gap year.

[AudiWurst]

New POD said:

So Lean and 6 sigma. The automotive world has been attempting it since before either was given those names, so for the last 25 year I've been 'doing' both.

So I question the need for banking experience, or IT knowledge (I have neither)

No, apparently, they understand the transferrable skills.

Anyone in banking like to say if I'm right to be sceptical?

I've worked in Middle Office^ roles in Investment Banking for the last 10 years. I spent 3 years at RBS, where they were going big on the whole "Lean" thing. Most people in the bank recognised that adopting Lean working principles was a Good Thing, but they weren't particularly pleased about being told how to do their jobs by some gobste Northern consultant who had spent most of his time in manufacturing. A commonly heard phrase in the early stages of the program was "RBS isn't a bloody Toyota factory".

In answer to your questions:

- Yes, your Lean and 6 Sigma skills are transferrable.
- No, you don't need banking experience (the contractors at RBS certainly didn't have it).
- The daily rate sounds a bit high, but not too far off. Depends whether you're working for a retail bank or an investment bank.

Good luck!

^ - If you do get the job, at least do a crash course in banking terminology and how the industry works, and understand what terms like "Middle Office" mean.

[New POD]

AudiWurst said:

New POD said:

So Lean and 6 sigma. The automotive world has been attempting it since before either was given those names, so for the last 25 year I've been 'doing' both.

So I question the need for banking experience, or IT knowledge (I have neither)

No, apparently, they understand the transferrable skills.

Anyone in banking like to say if I'm right to be sceptical?

I've worked in Middle Office^ roles in Investment Banking for the last 10 years. I spent 3 years at RBS, where they were going big on the whole "Lean" thing. Most people in the bank recognised that adopting Lean working principles was a Good Thing, but they weren't particularly pleased about being told how to do their jobs by some gobste Northern consultant who had spent most of his time in manufacturing. A commonly heard phrase in the early stages of the program was "RBS isn't a bloody Toyota factory".

In answer to your questions:

- Yes, your Lean and 6 Sigma skills are transferrable.
- No, you don't need banking experience (the contractors at RBS certainly didn't have it).
- The daily rate sounds a bit high, but not too far off. Depends whether you're working for a retail bank or an investment bank.

Good luck!

^ - If you do get the job, at least do a crash course in banking terminology and how the industry works, and understand what terms like "Middle Office" mean.

'appen that I am a Northern Gobste, to be honest. Is Middle office something out of a book about mythical creatures ?

Well as luck would have it the recruitment consultant was clearly a bullstter, and I've not heard a thing since I altered my CV, and sent them a copy. I would like to try something different that aerospace or automotive manufacturing lean, because quite frankly, I'd have to stop knowing what the answer is, before I prove it.