Throughout my first week here in Ireland I have experienced an exciting mix of learning, adjustment, and fun. The city is very easy to access and I have met people from all over Ireland and all over the world in the short time I have been here. Although I am yet to start my professional life here in Dublin I have gained some valuable insights on what it is that I will be doing and what skills I will need to have when I start my internship at Irish Insolvency Solutions.
Like mentioned above I will be working for Irish Insolvency Solutions which is in the Financial Services Industry and more specifically personal and corporate insolvency industry. Some of the responsibilities of IIS in this industry is to help people and corporations to navigate their way through large amounts of debt. They do this through personal insolvency arrangements, debt settlement arrangements, debt relief notices and bankruptcy.
Given that I am working in Ireland the emphasis on certain skills will be amplified or diminished compared to the skills required by companies in the US. Some of the skills required to be successful in the industry include communication, problem solving, analytical and financial thinking.
First and foremost communication is important in almost every industry but specifically when working with customers that are going through hardship. This makes communication and transparency between us and our clients that much more important.
Next problem solving is what we are trying to help our clients with so it is very important for me to apply this to this company. Every client’s problem will be very different so it will be important to be able to navigate through many different scenarios to have the best outcome possible for every client.
Lastly, analytical and financial thinking are crucial to understanding the needs of our clients and what it is that might affect the process. Furthermore I need to understand the market and the economy here and how it differs from what I am used to in order to help the clients we are working with.
Being in a different country comes with many challenges and obstacles that must be faced and figured out. When working in an industry that is heavily regulated by the government like the financial market, I will be faced with even more challenges. Some of the competencies that I must have in order to be successful in this industry is an understanding of regulations in Ireland, different culture in Ireland, and government intervention.
Starting with understanding the different regulations in Ireland compared to the US. For starters the idea of insolvency agencies are mostly unique to Ireland so understanding why they are here and so important to people and companies in Ireland. Understanding the why and how for the Insolvency agencies is crucial to my understanding of the company I will be working for and how to navigate my way through my internship.
Next there is a completely different culture here in Ireland that I need to understand before I can create any relationships with the clients. In Ireland the main focus of most of the companies is based on humility and person centered communication. This creates a positive relationship between client and company which allows for more trust and relationships. Compared to the US where they have opted for the more transactional approach where they focus more on making money and having efficient business practices. This is not to say that companies in Ireland do not want to make money it just implies that they value their clients money and time while also trying to be successful as possible.
Lastly, the government plays a much more direct role in debt resolution in Ireland. Navigating the rules, requirements, and contacts in public offices is part of the job. As someone who has not had a role in the US it is important to understand the rules and regulations while also trying to compare them to what they are in the US in order to see how my experience here will be unique to something in the US.
As I look to start my Internship next week I need to be proactive in figuring out these different ideas there are here in Ireland in order to be successful. Learning how to balance professionalism with compassion, and how to work within a completely new legal framework, is going to help me grow into a more well-rounded global business professional.