Can you tell me about your journey into the securities finance industry?
I ultimately found myself in securities finance largely by chance. Despite having an undergraduate degree in finance and working for a large broker prior to joining EquiLend, this industry tends to fly under the radar and was completely unknown to me coming out of college.
However, I have long had an interest in the wider financial services industry, financial markets, and how technology continues to transform our lives and financial services, making EquiLend a natural fit. I believe that technology is going to continue to change the way we work, and EquiLend is at the forefront of that mission, which I am excited to push forward.
As a young professional, what aspects of your role or the industry do you find most exciting?
Some of the most exciting and rewarding parts are continuing to work on technological developments that are shaping our industry, such as recalls automation stemming from the move to T+1 in the US, and the continued focus on creating efficiencies within existing automated workflows on our Next Generation Trading (NGT) platform.
Despite being a technology-first firm, securities finance is still very much a relationship-based business, and with EquiLend’s history and position, it offers individuals the fulfilling opportunity to become a trusted partner to our clients.
Many companies offer various training and development opportunities for their employees. How has your company supported your growth?
I joined EquiLend through a development programme that provided the opportunity to rotate through multiple teams and gain insight into EquiLend’s role throughout the entire securities lending lifecycle. It also gave me an invaluable networking opportunity, as it was possible to build real and meaningful connections within nearly every division of the firm.
While EquiLend offers formal training programmes, and has a stipend available to individual employees to spend each year on educational opportunities, as they see fit, the most valuable resources at the firm are the vast support network of industry leaders. EquiLend has historically attracted seasoned talent from a number of our client firms, and it is this internal knowledge base that has taught me most of what I know today. Well-connected leaders, like Jim Lailey, Matt Collins, and Derrick Cusick, have been instrumental in my career development, both in building industry knowledge and professional connections.
What misconceptions about working in the financial industry have you encountered, and how do you address these challenges?
Misconceptions about working in financial services often stem from the substantial amount of jargon that is used and how the industry is portrayed in the media. This can result in lay people being intimidated and viewing the industry as unapproachable, or perceiving businesses within it as high-pressure, cold, and profit-driven.
While it is certainly true that there is substantial jargon, the high-level concepts are relatively approachable, and the people within our lines of business, both colleagues and clients, are routinely warm, friendly, and caring about developing the future talent within the business.
There is also a notion that only people who are extraordinary mathematicians will succeed in the industry. While that may be true for some specific roles, there are many different functions and jobs within these firms, offering opportunities for a variety of skill sets. I may be biased given my role within a technology firm, but there is an increasing need for people from more diverse backgrounds and with broader skill sets. In particular, it is very common to see individuals on traditional stock loan and securities financing desks with more technical backgrounds than their predecessors.
As EquiLend is a part of the securities lending-focused niche, there have also been many misconceptions around the concept of short selling. These misconceptions can imply that securities lending, and EquiLend’s role within it, are causing harm to the markets, when in reality, securities lending plays crucial roles in providing liquidity and efficiency to capital markets.
Looking ahead, where do you see yourself in the next five years in terms of your career goals and aspirations?
As technology continues to change the way we live and work, my primary goal is to stay adaptable, flexible, and continuously evolve in response to the changes that come. Rather than aiming for a specific title or position, my focus is on embracing continuous learning and developing the skills that will allow me to stay relevant, regardless of how the industry transforms.
Specifically, I am always looking to continue growing my network within securities finance and develop leadership skills, soft skills, and technological literacy across several mediums including programming languages.
Given my seat in New York, it is also very easy to distance myself from markets outside of the US. I have a keen interest in continuing to develop knowledge about the global securities finance industry.
What advice do you have for other young professionals aspiring to pursue a career in your industry?
The single and most important trait for young professionals just entering the workforce is having an eagerness to learn. No one is expected to be an expert having just come out of college, but it is crucial to have a growth mindset and a positive attitude to take on new challenges, while understanding that there will be an initial steep learning curve.
It is also important to realise that it is unlikely you will be working on high-priority and the most impactful projects right away, but the time at the beginning of your career offers everyone a clean slate and an invaluable moment to prove yourself and build a reputation that may last an entire career. Nailing the small things early on and demonstrating keen attention to detail helps you build trust with senior managers, increasing the likelihood they will consider you for more impactful projects or new opportunities in the future.
It is also crucial to try new things and use the opportunity to provide a new perspective. Make mistakes, own up to them, and learn how to improve for the next time. Many teams, especially at larger firms, have processes that have been done the same way for many years, which means there will be opportunities for new joiners to provide value by improving upon those processes or automating them in ways that the team members may not have thought of, or had the time for, in the past.
Alec Bien bio
Alec Bien has a diverse background in product and business development across multiple technology and financial services companies. Based in New York, he currently serves as vice president of relationship management at EquiLend. In this role, he also oversees a range of data analytics, post-trade, and lifecycle management solutions.
Bien holds a bachelor's degree in finance and a master’s degree in business analytics, which fuels his passion for the intersection of finance and technology. Outside of work, he is a dedicated sports enthusiast and an avid traveller, having explored 49 American states and 16 different countries.
Alec Bien bio
Alec Bien has a diverse background in product and business development across multiple technology and financial services companies. Based in New York, he currently serves as vice president of relationship management at EquiLend. In this role, he also oversees a range of data analytics, post-trade, and lifecycle management solutions.
Bien holds a bachelor's degree in finance and a master’s degree in business analytics, which fuels his passion for the intersection of finance and technology. Outside of work, he is a dedicated sports enthusiast and an avid traveller, having explored 49 American states and 16 different countries.
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Image: Alec Bien 
