ESR #4 - The robo-advisor revolution and its impact on skillset and competencies of financial advisors

Project: European Training Network for InduStry Digital Transformation across Innovation Ecosystems – EINST4INE (funded by the European Union’s Horizon 2020 research and innovation programme under the Marie Skłodowska-Curie grant agreement No 956745)

Field of Expertise: Industrial digital transformation

Faculty / Research Group: RMIT Europe, Global Portfolio

Employment type: Full-time, fixed-term (36 months)

Gross annual salary: Estimated to 32,500 euros – additional family allowance based on personal circumstances may apply

Starting date: 1st September 2021

•Full-time, 36-months fixed-term contract based at RMIT Europe but may be required to work remotely or at another campus of RMIT University

•International mobility: various short and long-term travel foreseen, including industry and academic secondments

•Open to any nationality (requires a work permit for Spain)

•Research activities focusing on digital transformation

•Enrolment as a PhD candidate at RMIT University (Australia)

•Opportunities to conduct innovative research activities in collaboration with high level academic and industrial partners

•Competitive remuneration

About the position:

The PhD position is part of the Marie Skłodowska-Curie Action ‟European Training Network for InduStry Digital Transformation across Innovation Ecosystems” (EINST4INE), coordinated by RMIT Europe. EINST4INE project aims to develop new concepts, approaches and methods in the area of digital transformation and brings together a unique group of world-leading experts in the areas of Open Innovation, Industry 4.0, digital transformation and innovation ecosystems. EINST4INE six academic beneficiaries will recruit altogether 15 Early Stage Researchers (ESRs) working in the domain of industrial digital transformation who will meet regularly via a coordinated exchange programme organised across the international network, comprising secondments, visits, training events, workshops, and summer schools. The successful candidate will be based at RMIT Europe (Barcelona, Spain) and enrolled in a PhD programme at RMIT University (Melbourne, Australia). Multiple international travels are foreseen among which participation to the project activities across Europe, visits and secondments to partner organisations, and long-term stay at RMIT University in Melbourne.

PhD Project Description:

Title: The robo-advisor revolution and its impact on skillset and competencies of financial advisors

Description: The emergence of robo-advisors raises crucial questions revolving around the balance between the human intervention and the machine component in the advisory and decision-making processes in wealth management and calls for a deeper understanding of a hybrid model where human and machine co-exist, with the robot element designed to augment the existing wealth management value chain, by complementing rather than substituting or displacing the human advisory function. Accordingly, this ESR project will examine how the robo-advisor revolution is affecting the skillset and competencies that financial advisors should master.

Expected Results: a) theoretical understanding on the impact of robo-advisors on skill sets of financial advisors; b) framework illustrating the required skills and competencies in financial sector.

Research field(s): Technology management, innovation management, strategy

Supervisors: EINST4INE research programs involve comprehensive, independent research under the supervision of an expert supervising team. For the current position, these are:

•Prof. Anne-Laure Mention, main supervisor

Candidate Profile:

Background:

The ideal candidate should have educational background in business, economics, management, industrial management, information systems, engineering (with a technology management background).

Qualifications:

Candidates should hold a degree entitling to enrol in a PhD programme. This could be:

Key Selection Criteria:

•a master’s degree (preferred) that includes a research component comprised of at least 25% of a full-time academic year with an overall distinction average or a master’s degree without a research component with at least a high distinction average; or

•a bachelor’s degree requiring at least four years of full-time study in a relevant discipline awarded with honours. The degree should include a research component comprised of a thesis, other research projects or research methodology courses that constitute at least 25% of a full-time academic year. The applicant must have achieved at least a distinction average in the final year; or

•evidence of appropriate academic qualifications and/or experience that satisfies the Associate Deputy Vice-Chancellor, Research Training and Development or nominee that the applicant has developed knowledge of the field of study or cognate field and the potential for research sufficient to undertake the proposed program.

At RMIT a grade of distinction represents academic achievement of 70% or higher and a high distinction is 80% or higher. 

Professional experience is an asset but not formally required.

Eligibility and Key Selection Criteria:

To be eligible, you need to be an “Early Stage Researcher”, simultaneously fulfil the following criteria at the time of recruitment:

•Candidates must satisfy eligibility criteria according to RMIT University requirements for PhD enrolment (https://www.rmit.edu.au/research/research-degrees/how-toapply).

•Mobility: candidates must not have resided or carried out their main activity (work, studies, etc…) in Spain for more than 12 months in the 3 years immediately prior to recruitment under the EINST4INE project (i.e. from August 2018)

•Qualification: candidates must hold a degree that formally entitles them to embark on a doctorate, either in the country in which the degree was obtained or in the country in which the research training is provided (typically a master’s degree – MSc).

•Research experience: at the date of recruitment, candidates must be in the first four years of their research career, after the master’s degree was awarded.

•Candidates must be proficient in English, with one of the following tests:

-IELTS: minimum overall band of 6.5 (with no individual band below 6.0)

-TOEFL: minimum overall score of 79 (with minimum of 13 in Reading, 12 in Listening, 18 in Speaking and 21 in Writing)

-Pearson Test of English: minimum score of 58 (with no communication band less than 50)

-Cambridge English: minimum of 176 with no less than 169 in any component.

The positions adhere to the European policy of balanced ethnicity, age and gender. Both men and women are encouraged to apply.

Working conditions:

We offer a 36-months full-time work contract, expected to start on 1st September 2021. The position will be based in Barcelona (Spain) and international travels, including to Australia, are foreseen. 

The remuneration, in line with the European Commission rules for Marie Skłodowska-Curie grant holders, will consists of a salary augmented by a mobility allowance, resulting in a gross monthly salary of 2,700 euros, with possibility to be raised depending on the candidate’s family status at the time of recruitment.

Further benefits

The ESRs will be involved in a Marie Skłodowska-Curie network with excellent opportunities for scientific and personal development. These include:

•Regularly adapted personal career development plans.

•Funding for short stays at top-class research groups.

•Regular training events and meetings across Europe

Application:

Applicants will be selected on their potential for scientific excellence and adaptability to work in a multicultural environment. Recruitment will be a transparent, open and equal process following the guidelines of the European Charter for Researchers and the Code of Conduct for the Recruitment of Researchers. Carefully read the guidelines before applying. NB: the recruitment and interview process for this position is specific to EINST4INE project. Still, applicants should make sure they comply with the recruiting institution conditions.

The application must be submitted online, together with the following supporting documents (in English):

A detailed Curriculum Vitae (2-pages max);

A letter of motivation (1,000 words max);

A brief, non-binding, research proposal for the ESR project, addressing the state of the art, the objectives, the methodology (3,000 words max);

A copy of your official academic degree(s) and the corresponding transcripts;

A proof of English proficiency

NB: the recruitment and interview process for this position is specific to EINST4INE project. Still, applicants are encouraged to carefully read RMIT University application tips (https://www.rmit.edu.au/careers/applying-with-us). 

The data of the applicant will be collected for the sole purpose of the selection procedure, such as described in Grant Agreement No. 956745 - Horizon 2020 EINST4INE. The candidate may refer to RMIT EU (coordinator) in order to exercise her/his rights under art. 15 – 22 Reg. (EU) 2016/679.