by Rich Marulanda
With many members of the U.S. military returning from the battlefields, employment uncertainty further complicates an already challenging transition to civilian life.
To help the nation’s veterans address the employment challenge, a coalition of major corporations, including DTCC, has joined forces in the 100,000 Jobs Mission, an initiative that aims to give jobs to 100,000 transitioning service members and military veterans by 2020. The initiative, spearheaded by JPMorgan Chase, both supports veterans and helps companies strengthen their workforce.
“As the financial services industry continues to face a challenging landscape with new regulations and a heightened focus on risk management, we need people who possess the leadership, integrity, training, resourcefulness and technical skills that are typical of U.S. military veterans,” said Anthony Portannese, DTCC Managing Director, Human Resources. “Our experience in hiring men and women who have served their country has proven that they are well suited to the task of helping us achieve our mission to protect our clients and the financial markets by reducing risks, amplifying operating efficiency and minimizing costs.”
Unemployment rates are high among today’s U.S. military veterans. Recent data from the Bureau of Labor Statistics indicates that the unemployment rate for Iraq- and Afghanistan-era veterans jumped to 12.7% in May 2012, up from 9.2% the previous month. This compares with a national unemployment rate of 8.2% for the same period.
As part of the 100,000 Jobs Mission, DTCC has been proactively recruiting veterans via job fairs, military bases, recruitment agencies and online initiatives. This initiative complements DTCC’s overall recruiting strategy and aligns with its goal to hire top talent, noted Portannese.
In recent months, DTCC has successfully tapped the veteran talent pool in Tampa, Florida, where its Southern Business Center is located. Tampa is also home to MacDill Air Force Base, where more than 15,000 military and 2,700 civilian personnel are assigned.
Over the years, DTCC has recognized the specialized skills military veterans bring to the table, especially in the areas of information technology and cyber-security. As a result, the majority of recent new hires at DTCC’s Southern Business Center have been in information technology.
“Information security is more important than ever in today’s financial services environment of expanding regulatory requirements and the ever-increasing frequency and sophistication of threats to systems and information,” said Mark Clancy, DTCC Managing Director, Technology Risk Management, who oversees DTCC’s Corporate Information Security Office. “With DTCC’s critical role in providing safety and soundness to the financial services industry, we are always on the lookout for talented individuals who have the skills to help us maintain top-notch information security programs to protect the nation’s financial infrastructure. We have successfully found those skills in our U.S. veterans, many of whom come from MacDill and the surrounding Tampa market.” @
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