Cover Letters Samples For Bank Operations

https://news.efinancialcareers.com/uk-en/185046/much-earn-now-investment-banker-30s/

Do you really need to write a cover letter when you’re applying for a job in an investment bank? These days, it’s surely all about the skills in your CV – who’s got the time to read that extra blurb saying how perfect you are for the role?

Not recruiters working with experienced hires. Most of the banking recruiters we speak to treat the cover letters (or ‘cover emails’) they receive from experienced candidates as an irrelevance. “For experienced roles, we rarely look at cover letters,” says Logan Naidu, CEO of London-based financial services recruitment firm Dartmouth Partners. “I don’t really read the cover letter, I just go for the CV,” agrees Richard Hoar, director of banking and financial services at Goodman Masson. “I look at the CV and then I phone them. – If the CV is relevant, I’ll get everything that would have been in the cover letter from that call.”

Before you start sending CVs and resumes for banking jobs without any preamble whatsoever, though, it’s worth bearing in mind that there are some situations in which cover letters can make all the difference.  

These include:

  • When you’re applying for graduate jobs in banking.
  • When you’re applying to banks directly (without going through external recruiters),
  • And… when you happen to be using a recruiter who simply likes cover letters (hard to tell!).

“For graduate hires, cover letters are very important,” says Naidu. Just how important is reflected by the fact that some banks specify them as a must-have in their graduate recruitment process.Banks like Goldman Sachs, Citigroup, Barclays, Morgan Stanley and Macquarie all demand that their would-be analysts in Europe write cover letters or something very similar, says Victoria McLean, a former Goldman Sachs recruiter and founder of banking CV specialists, City CV. 

Goldman Sachs is particularly demanding – it requests that graduate applicants write a personal statement which is effectively a cover letter in 300 words or less.  In theory, Goldman Sachs is ditching its cover letter process and will soon be using HireVue digital interviews to select all its student hires, but for the moment the 300 word killer cover letter is still an integral part of the Goldman recruitment process. A former recruiter at the firm told us it’s very important. “Some students were excellent until they got to the cover letter,” – those 300 words let them down.

What makes a good banking cover letter? Mai Le, a former Goldman Sachs investment banking associate runs CoverLetterLibrary, a community which houses a collection of cover letters that have enabled juniors to get jobs at banks in the past. Le says the best cover letters have two things in common: narrative structure (they emphasize your story and show the choices that brought you here) and facts and figures that underscore your background and achievements. By comparison, Le says the worst banking cover letters suffer from key-word stuffing, irrelevant information and spelling and grammatical mistakes.

It can help to follow a general template… 

You need to tailor your cover letters for each job you apply to. But this doesn’t mean that you can’t write a cover letter that follows a template. It does mean that each time you apply for a new job, you will need to fill in the template all over again.

McLean suggests your template follows the following format: Introduction. Why me? Why you? Why this job? In total, the text within the template should be no more than 750 words, or one A4 page, long. Le says some candidates also use a format that’s ordered as, Why this job? Why this bank? Why me? “It’s a matter of personal preference,” she says. Ultimately, you want all these elements in the cover letter and should go with which ever you feel comfortable with.

Either way, here’s what to include.

The easy introductory paragraph

The first paragraph is all about explaining why you’re writing. If you’re applying for a graduate job in a bank, keep it short and sweet.

“The first paragraph is just to say who you are and why you’re writing the letter,” says McLean.

This paragraph might read something like. “I am an X with X year history of X at global banking firms including X as well as X. I have been working for X for the past X years.”

If you’re writing a Goldman Sachs cover letter that’s 300 words or less, you can ditch this style of opening paragraph. – There’s just no space for it.

If you’re writing to a recruiter, there’s less need to be quite so brief with your introduction. Say who you are, and explain why you’ve approached that recruiter in particular: “If someone says they’ve been referred to me by someone I know and respect, I will sit up and pay attention,” says Branthover. “The same applies if they say they’ve learned that I mentor women and that this is something they’re interested in too.”

In other words, when you’re writing a cover letter to a recruiter, you need to know who you’re writing to. Use this introductory paragraph to address them in person. Flattery will get you everywhere.

The selling yourself paragraph. ‘Why you?’

The second paragraph is usually harder. This is where you need to start selling yourself, expressing your personality, and explaining why you’re such a hot catch. It’s here that you can add in some of the narrative explaining how you came to apply for this role, plus some of the substantiating figures that Le says make successful cover letters so effective. Don’t use bland and empty phrases like, “I am a determined, motivated person.” Do look at the key words and skills used to describe the job you’re applying for and (without too obviously reiterating the ad) explain how you match them. Focus on the results and on outcomes you’ve achieved in similar situations in the past.  You need to be specific and you need to bring yourself to life.

If you’re writing a cover letter to accompany a graduate application, McLean says you can use the second paragraph to talk about what you’ve studied and how it’s relevant. If you’ve studied finance and know how to do a DCF, now’s the time to mention that. If you haven’t studied finance but have good relationship management skills and you want to work in M&A (a relationship-focused business), say that here. Provide EVIDENCE for the skills you’re claiming to have.- List any awards you’ve won. Never, ever, make empty statements. “Many successful trading cover letters feature the candidate’s trading return profile and their rationales for their success or failure,” says Le. ” – Cover letters for sales positions highlight the candidate’s track record that evident their ability as a natural salesperson.”

The motivational paragraph. ‘Why thisjob (in this sector?)’

If you’re an experienced hire applying through a recruiter or applying directly to a bank, this is where you explain why you want the job you’re applying for. If you’re a student applying for a first job, this is why you need to explain why you want this job and why you want to work in this sector. Be specific – you’ll need to know about the job and the sector before you start this section.

As a student, you’ll need to link your skills back to your motivation for working in that area of banking above others, says McLean. Why M&A? Why not sales and trading? Why not compliance? – If you want to work in operations, for example, explain how you have a passion for building systems and improving efficiency, as evidenced by your system for serving customers in your weekend job…

The flattering paragraph. ‘Why this bank?’

The fourth paragraph is all about explaining why you want to work for that particular bank. Again, you need to be specific. McLean says graduates often copy and paste from banks’ own websites. For example, it’s not unheard of for them to write, “I want to work for Goldman Sachs because you have 170 locations across 90 cities in over 30 countries.”  This will get you nowhere.

The other ex-Goldman Sachs recruiter we spoke to said she particularly looked for, “creativity and effort and writing about Goldman Sachs,” when running through students’ cover letters. People were expected to say exactly why they wanted to work for Goldman rather than, say, J.P. Morgan.

Instead of just reiterating what you’ve read on banks’ websites, therefore, you need to cite some unusual reasons for choosing that bank that will make you stand out. If you’re a student, it helps to say that you’ve met some of the banks’ staff and were impressed by them.  Citigroup, for example, suggests that student cover letters reference encounters with the bank’s staff at recruitment events. – Make a note of the staff you meet and explain what they said or did that impressed you, and what made you think you’d like to work with them.

Mark Hatz, a former M&A associate at Goldman Sachs and Perella Weinberg Partners who now helps people get jobs in banking, says stressing your rapport with people you’ve met from the firm is particularly important when you’re applying for a job in M&A or capital markets: “These are advisory businesses and they want to see that you can build a rapport and work in a team. If you get the job, you’ll also be spending a lot of hours in the office with these people, so showing you like them is very important.”

It also helps to reference the bank’s strategy, to mention any awards the bank won, and to cite any conversations you’ve had with or comments you’ve read from other industry professionals and analysts who’ve given concrete reasons why it’s good place to work. Everything in this section needs to be positive. – You need to explain why you want to work for Deutsche Bank specifically without writing anything that denigrates its rivals. The more senior you are, the more you will need to reference solid strategy points at this stage.

“Show a grasp of where they are going, what the plan is and why this appeals to you,” says McLean. Show that you know their strategy and that you agree with the way they’re addressing challenges.

The call to action

Finally, you need to end the cover letter with a call to action. McLean suggests completing the letter with the following sentence: “I really look forward to hearing from you. I am available for interview and contactable by X.’

Simple. Except all of this has to be written in 750 words – or just 300 if you’re a student applying to Goldman Sachs. It’s not so easy after all.

Follow @MadameButcher

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Good communication skills are a critical part of being an effective operations manager, and your first opportunity to demonstrate you have what it takes is in your cover letter.

While your resume will lay out the nitty-gritty details of your professional skills and experience, your cover letter should paint a broader picture of how and why you are an effective leader and manager. Where bullet points work on a resume, full sentences and proper structure are needed for a convincing cover letter.

In a hurry? Our state of the art cover letter builder can help you write a convincing cover letter in minutes.

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Structuring your cover letter

In your first paragraph, introduce yourself, clarify the position you are after, and wrap up with a note about how you heard about the position. If this is a job board or a website like Linkedin, list it here; if you heard about it from a person, this is the spot to do a name-drop.

In your second paragraph, launch in with a sentence about your industry experience, followed by any further qualifications that are particular to the position you are applying for. Once you’ve indicated you’re qualified, you want to move into more of a persuasive argument of why you are the ideal candidate for the job. This is where you highlight your top skills, your passion, and perhaps a bit about your personality to keep it conversational.

In your next paragraph(s), you’ll want to highlight both your management skills and your leadership abilities, as your role is a senior one in most companies and will involve both. As mentioned earlier, your ability to communicate is key in your role and you’ll want to convey this in the body of your letter.

Finally, wrap up with a statement about your values, standards, and vision, followed by a reminder of where they can find your contact information for a further discussion. This is a strong conclusion with a call to action to get you to the interview stage.

Check out the sample operations manager cover letter below to see how it looks as a cohesive piece:

Table of Contents

  1. Operations Manager Cover Letter Sample
  2. Operations Manager Cover Letter (Text Format)

SEE ALSO > Sample Cover Letters by Industry

1. Operations Manager Cover Letter Sample

This Operations Manager cover letter is based on the matching professionally written resume (click to view)

Click Here to Download Our
Operations Manager CL Example

2. Operations Manager Cover Letter Sample (Text Format)

Dear Mr./Ms/Mrs [Manager’s Name],

My name is [Your Name] and I am applying for the position of [position name] with your company as advertised on [company website / Linkedin / job board website].

I have been involved in the health and fitness industry for over the better part of 10 years, starting as a front desk attendant in university before learning the ins and outs of running a club all the way up to my current position as an operations manager. While I have a personal interest in fitness as a lifestyle, my professional interest lies in fitness as a business.

I have a background in business administration, and I understand the finances of a fitness club from my years spent working at all levels on sales teams. My approach to club operations starts with a focus on our clients, and quality of service is a top priority in all discussions about club operations. I have a mind for systems, and I am a Six Sigma Yellow Belt, with a goal to continue my training.

When it comes to people, I am a strong believer in leadership and empowering people to take ownership of their positions and processes. I believe effective communication is key to leadership, and I strive to create a positive and motivating environment that nurtures future leaders and high performers.

Lastly, I am committed to the highest standards of professionalism in the industry and I aim to ensure that those standards and values are passed through every aspect of club operations. Please find my contact information at the top of this letter and on my enclosed resume, and I look forward to further discussion on how I can add value to your organization.

Sincerely,

[Your Name]

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