Wes Hatch, Head of Pension, Superannuation at Vanguard
How has your association FINSIA contributed to your development over your career?
Substantially. Early in my career FINSIA provided access to a mentor and provided opportunities to network, particularly with other graduates. For a someone with little to no knowledge of financial services (I studies mathematics) and who did not know how to navigate an office environment these were crucial lifelines.
I had people to ask the silly questions I could not ask at work, and I had people with shared experiences to talk with. FINSIA provided a great foundation to launch my career. Throughout my career, FINSIA has provided easy access to great speakers and content to keep me up to date, which helped me maintain my CPD points.
Tell us about your career to date?
It has varied lots. In order, I have worked in investment consulting, investment analysis, product management of managed investment schemes, product management custody and currently product management superannuation. The skills I have learnt in financial services are highly transferrable.
We've read your title, now tell us how you would describe what you ACTUALLY do to a friend at a BBQ?
My daughter will tell you I spend all day talking to people. The title is Head of Pension, Superannuation. I ACTUALLY work closely with internal and external stakeholders, which does involve a lot of talking to build and improve the offer and customer experience. The aim is to help members to confidently move into retirement by creating an easy to understand and easy to navigate retirement offer.
What are your most pressing challenges in 2023?
The relentless pace of change in super; ASIC data strategy, Quality of Advice consultation, increased scrutiny on ESG offers, ASIC and APRA’s thematic review of the Retirement Income Covenant and it just keeps on coming. That said, the constant change in super certainly keeps things interesting.
What led you to pursue your career path in the first place and can you remember where and when the lightbulb came on?
Back in the olden days I saw a job advertisement in the newspaper looking for Maths graduates. That turned into an investment consulting analyst job playing with spreadsheets. Over time I began to understand the problems that were being solved, which piqued my interest enough to learn about investments. The lightbulb came on for me at the first superannuation board meeting I attended. That was when I knew I wanted to get involved in helping to help everyday Australians save for their retirement.
What is the best piece of career advice you’ve ever received?
Understand the needs of your stakeholders. Know ‘What’s in it for them’. The ability to communicate and negotiate comes down to understand each other. The better you understand what is good for each other, the easier it is to come to an understanding or an agreement.
In hindsight, what is the one thing you would have done differently in getting to where you are now?
I would have got married earlier. My wife is my greatest supporter. She is a big reason why I have been able to move across the country and take on meaningful roles.
Who is your most influential or inspirational professional influence and why?
The most influential person is Paul Taylor, currently the CIO at GESB. Lucky for me, Paul was my first manager. Paul is a man of great integrity. He demonstrated to me how to communicate, openly, honestly, and effectively; even when the message was difficult. Paul shows respect to everyone he encounters in his life. He is responsible, reliable, and trustworthy. Most importantly for me, Paul was patient and encouraging. For a graduate finding his way in financial services Paul’s guidance was invaluable. Many years later, I am still applying the lessons learned from Paul.
What do enjoy doing outside of work?
Golf, whiskey, and travel. If I can combine all three… even better.
