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A day in the life of…
Analyst in Insolvency at Pitcher Partners
Jack Featherby studied a Bachelor of Commerce (Finance/ Economics double major) at The University of Melbourne in 2016, and is now an Analyst in Insolvency at Pitcher Partners.
7.30 - 8.45 AM
Compared to a lot of my colleagues, I have a relatively easy commute to work in the morning, living only a 20 minute walk away. Depending on my current workload, I will aim to arrive at work around 8:15am to 8:45am. That being said, I am not a morning person so would snooze my alarm a couple of times before dragging myself out of bed.
8.45 AM - 12.30 PM
Every now and then, you will be fortunate enough in Insolvency to spend some time in the courts located just up the road on William Street. One lucky morning, I went to watch a public examination involving a bankrupt and their accountant. Public examinations are an amazing way of extracting useful information from individuals as they are put on the stand and questioned under pressure. Trustees are able to publically examine a bankrupt or related individual if he/she believes they are withholding useful information which may ultimately lead to a recovery for creditors.
12.30 - 1.30 PM
Almost every lunch, I meet up with my friends from across the firm. We will either treat ourselves and go out for lunch or sit downstairs in the lobby. This is an awesome way of winding down for an hour or so and catching up with various people who you may not normally interact with. Pitcher Partners have created a culture which embraces all staff and this has helped become closer with all the other graduates. After lunch, its back to work for the afternoon.
1.30 - 5.15 PM
When a new bankruptcy or liquidation comes in and you have been allocated as the staff member on the file it is all systems go. The trustee or liquidator (depending if it is individual or corporate), will send out standard day 1 letters of enquiry to the majority of banking institutions as well as other regulatory bodies such as the Sheriff and VicRoads. As the staff member, I am in charge of preparing letters and request searches to be conducted under the bankrupt or company. These searches include ASIC Company or directorship searches, property searches and Personal Property Securities Register (PPSR) searches. When I first started as a graduate, I was amazed at the powers given to trustees and liquidators in order to conduct their investigations.
Once all bank responses are received and bank statements are to hand, it is time to review the statements for any suspicious transactions which may require further investigation or traces. This would have to be one of the more interesting aspects of working in insolvency as it paints a clear picture as to why the individual or company found itself in financial distress. Being able to report your findings to the manager and partner on the file is a very rewarding part of my work.
Overall, every day as a graduate in insolvency is always different and I highly recommend any university student to at least give it a thought as this may be the profession for you. I have learnt many skills relating asset identification/protection and the like which I will carry with me for the rest of my life.
Should you have any questions, please don’t hesitate to get in touch with me on LinkedIn.
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