RCM Capital – Talent

15 Jan 2021
 

Client Vision and Intent

 

RCM Capital, a private asset management firm making direct debt and equity investments, experienced a strong period of growth in 2019 and into 2020. As they focus on special situations investments, the macro economic situation presented a significant opportunity to be capitalized on. The question they needed to answer, as many organizations undergoing a period of growth do, was how they could boost their operational capacity to take advantage of the opportunities they identified when they barely had the capacity to pursue such opportunities in the first place? 


They approached Virtus Groups with this project, given the successes we have had in hiring within the investment management space. Virtus Groups’ hiring process is ideal for finding top talent within this space as it originated in response to the challenges associated with finding talent for investment management firms over 15 years ago and has been optimized over the proceeding years.

 

Virtus Groups Development of Plan

 

Through a consultation which focused on RCM Capital’s goals it was established that they needed to bring in two key hires, an experienced Investment Associate and a Senior Accountant. The Investment Associate position was to be assigned to their Toronto office while the Senior Accountant was to be assigned to their Vancouver office, meaning they were required to run two concurrent hiring processes in different geographical contexts. 


The initial phase of each recruitment engagement which Virtus Groups fulfills involves detailed consultation with decision makers within our client’s organization to understand both the technical requirements of the role/s we are sourcing and the culture of the organization in order to find candidates who will thrive within the specific environment. This process was no different. The Virtus Group talent team consulted with RCM Capital’s senior partners to develop highly detailed candidate profiles and job descriptions for the roles they needed to fill. Our team also established baselines for each role which would be used when candidates were assessed using our proprietary candidate assessment tool. These baselines reflected the different competencies which would be required for each role as well as general points related to the culture within RCM Capital’s and the specific teams.

 
 

Virtus Groups Executes the Plan

Investment Associate —

When RCM Capital conducted their analysis of their business needs they initially decided that they required an Investment Analyst, with between 1-3 years of general investment management-based professional experience. Our talent team posted engaging job advertisements and assessed applicants who met this criteria using the full suite of proprietary candidate assessment tools at our disposal. From an initial pool of almost 50 applicants who appeared qualified on paper, we presented three candidates who met the testing threshold which identified them as highly technical competent and as having the attitude and behaviors which would ensure they were immediate fits and would be set for long-term success within the firm. These candidates were then interviewed by RCM Capital’s hiring manager. At that stage they established that in order to achieve their operational goals they would need a more experienced candidate with a precise skill set. They relayed this information to our team and we recast the requirements and began the process again.

The new profile, an Investment Associate with 4-5 years of experience in an analytical role, as opposed to a business development-focused position, was produced. Our team recognized that such a skill set would be in high demand and, as a result, a more active approach would need to be employed. Utilizing our network and proprietary candidate identification processes, numerous prospective candidates were identified and approached. The attractive opportunity of joining a growing investment management firm was pitched to candidates. They were then managed through the candidate journey by Virtus Groups’ talent team and, again, assessed using our proprietary testing tools. This process resulted in four excellent candidates being presented to RCM Capital’s hiring manager. Virtus Groups’ team then coordinated subsequent interviews and discussions between the number one candidate and various RCM Capital team members. We also offered support during the offer stage of the process, enabling productive conversations between the successful candidate and RCM Capital to ensure a smooth transition into the role for both parties.

Senior Accountant —

RCM Capital have a clear picture of what the best hires in accountancy positions are for them. They communicated this detailed profile to the Virtus Talent team and charged us with finding the right hire. The profile contained a number of criteria so, again, an active recruitment process would be needed. Our talent team quickly identified and persuaded a number of candidates to put their candidacy forward. Three prime candidates, all who had met the criteria as set by RCM Capital and had score well in our proprietary assessments, were presented for final interviews. Our team managed this interview process and coordinated all subsequent discussions, ensuring RCM Capital did not expend unnecessary time on logistical arrangements. RCM Capital were presented with a Senior Accountant which matches their desired profile without them having to partake in a search.

 

Results

RCM Capital hired two highly talented team members while maintaining their concentration on their investment pipeline. For one hire, the Investment Associate, Virtus Groups’ talent team showcased their flexibility to manage a shift in requirements and still deliver an excellent hire in a timely manner. For the second hire, the Senior Accountant, Virtus Group seamlessly integrated into the firm to secure an excellent candidate with the perfect fit. In both cases, Virtus Groups’ solution was an efficient process which enabled RCM Capital to increase their operational capacity and improve the overall quality of their team across both of their locations. It was also cost-effective as it allowed the firm to concentrate on their core business without having to spend time and resources on two complex recruitment processes.

Contact us at projects@virtusgroups.com if you’re interested in learning more about our talent solutions.

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