If you work for an investment bank, you may feel that a grandiose job description is your due - but be careful.
eFinancialCareers reports that bankers are being warned against seeking overly important job descriptions. If you’re a banker, it’s far better for your job to be described in menial terms, said one lawyer. That way, you can’t be held accountable for too much.
'Before you accept a new job in banking, it’s a very good idea to look hard at your job description', said Charles Ferguson, founder of London-based Ferguson Solicitors, which specialises in representing traders in employment law cases. Limited or menial job descriptions are best. 'If you’re running a trading floor and your job description simply says you’re the cleaner for the gentleman’s toilets, the financial services regulator will be forced to prove you’re really responsible for the entire floor before including you in an investigation', Ferguson advised.
Other lawyers are dispensing similar advice. One senior banker who recently left Royal Bank of Scotland (RBS), said a group of lawyers visited the bank’s offices to recommend that jobs should as closely defined as possible to avoid people being caught up in regulatory investigations.
'It’s a huge risk', said the ex-RBS banker. 'All it takes is for them to start investigating you and your career is pretty much over – or you have to spend fortunes on lawyers to clear your name'.
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