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Selecting projects and activities for Legal, Finance and Accounting industry placements

The Legal, Finance and Accounting world has huge potential for industry placements.

There will be T Levels for each sector which will include the following technical level specialisms:

  • Retail and Commercial Banking Analyst
  • Investment Banking and Asset and Wealth Management Analyst
  • Insurance Practitioner
  • Finance Compliance / Risk Analyst
  • Finance Operations Analyst
  • Assistant Accountant
  • Legal Services Assistant Business, Finance and Employment
  • Legal Services Assistant Dispute Resolution
  • Legal Services Assistant Private Client
  • Legal Services Assistant Crime and the Criminal Justice System
  • Legal Services Assistant Social Welfare and Immigration

Identifying placement projects in the Legal, Finance and Accounting Skills area

Look for projects and activities for placement students that:

  • line up with your future skills needs, particularly with an eye on emerging technologies
  • will attract and challenge high-calibre students who are ambitious to pursue a higher-level career in these skill areas
  • will capitalise on the course content that the student is learning in school or college
  • provide opportunities for students to make a meaningful contribution to live projects. Research has shown that there is more satisfaction from employers and students when there is an opportunity to take responsibility for a real business project end to end
  • allow others in your team to develop their own skills in management and mentoring

Below, we’ve described 3 example scenarios of projects and activities that could be suitable for placement students. We encourage you to think about placement opportunities that can offer relevant experience to students and can add value to your organisation.

You can use the planning the content of an industry placement article to structure industry placement projects and activities, to provide meaningful experience for the student, and to deliver tangible benefits for your organisation.

Industry placement example scenarios

Contents

Legal

Working with the web development team in this medium-sized web design agency, the student contributed to a large website creation project, including sourcing content from the internet, coding and working within the company’s content management systems.

The placement involved 2 blocks of work, firstly, during the development phase of the site and, secondly, after launch.

Projects and activities:

  • Prepare materials for a conference / meeting / mediation or court, including:
    • assisting with the preparation of meeting bundles
    • making appointments and maintaining critical diary dates
  • Research and investigate a dispute claim by:
    • identifying the facts in a claim
    • researching the law related to a claim
    • presenting evidence to the legal services team associated to a claim
  • Draft documents related to a dispute claim by:
    • drafting routine notes from meetings / client conferences
    • filing, copying and listing relevant documents
  • Draft a list of documents in the appropriate format and order related to a claim, for example, letters, forms or a schedule of loss

Finance

A financial services department has identified several areas where additional support would be helpful. They are looking for strong analytical support related to demands for products and services.

The student will work under supervision with various team members to collect, analyse and present relevant information on risks and other factors to draw conclusions and recommend solutions.

Projects and activities:

  • Prepare relevant documentation in response to demands for a product or service, including:
    • reviewing, classifying and storing information in the organisation’s established format
    • sourcing relevant facts and information
    • proposing solutions
  • Identify risks in products or service by:
    • selecting and using appropriate measurement tools
    • preparing documentation
    • explaining the risk findings for a given product or service to the team
  • Review sets of relevant information by:
    • collecting and collating information
    • using appropriate software tools
    • making conclusions and presenting options
    • attending client meetings as appropriate

Accounting

A small accountancy broker is offering a placement delivering accounting activities as part of their regular client and organisational workflow.

The placement student will work with the owner and administrator on a range of tasks needed in the small office team.

Projects and activities:

  • Compile various reports on a regular basis, for example, project costing and department expenditures
  • Provide support with analytical projects by:
    • collecting and collating information
    • selecting and using appropriate measures and indicators
    • preparing, analysing and presenting documentation
  • Assist with company record keeping by researching and correcting entries as necessary
  • Apply a logical approach to problem solving, identifying issues, influencing factors, proposing timely and effective solutions

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