Tim Reid – Director, Financial Services Group at Grant Thornton
How did you get into regulatory consulting?
Whilst working for the PIA (Personal Investment Authority) I was head hunted by Robson Rhodes to run their pension outsourcing unit. Grant Thornton then approached me for a regulatory consulting role, which I initially ran in parallel with pension review work.
Was regulatory consulting your first career choice?
No, it wasn’t at the time as I didn’t have a specific career plan. I left university with an economics degree and applied for a variety of banking jobs. I joined a bank called BCCI, which gave me my first opportunity to work in the City.
What were you doing before?
I joined BCCI on a graduate program and stayed for four years. Then I worked as a financial adviser for a further five years. During this role I witnessed unethical practices, so I decided to join the PIA. I became poacher turned gamekeeper.
What attributes do you think have made you successful in your career?
A high standard of professionalism and focus on really adding value for clients. I have an analytical mind-set, work well in a team and offer clients a pragmatic, commercial approach.
Do you look for candidates with a particular educational background or particular qualifications?
We consider staff from a variety of backgrounds. We look for people who are bright and articulate, both in written report writing and verbally. I’ve personally found that law graduates are particularly well suited as they tend to bright and naturally analytical.
What advice would you give to a junior starting their career?
Get as much exposure to different areas as you can. Don’t specialise too early, keep learning, work out what you enjoy and absorb as much information as you can.
What advice would you give to a mid-level professional?
Make your output the best possible by taking ownership, being responsible and having pride in your work. Also, develop your judgement skills – having sound judgement is a key differentiator for senior roles.
What advice would you give to a number two?
Differentiate yourself, find your USP and work on your business proposition to make yourself a credible partner proposition.
What do you see as the growth areas of regulatory consulting in the next 18 months?
Financial crime compliance, GDPR, SM certification, cyber security and fintech.
Who is the person or persons who have had the biggest impact on your career?
Patrick Storey gave me my break in consultancy. He leads from the front, is widely respected and is a recognised industry expert.
Last, but not least, when you’re not in work, how do you unwind?
I play five-aside football and go to Manchester City games whenever possible. I have a busy family life, with three sons, and I enjoy live music and attending gigs.
See Tim’s LinkedIn profile here.
If you enjoyed this interview, you may also want to read our interviews with David Kenmir and Andrew Clark from PwC.
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