A DAY IN A LIFE OF A TRAINEE AT KAVANAGHFENNELL... 
For the second year running, kavanaghfennell has scooped the Grad Ireland Best SME Recruiter award. Voted for by students and judged by an independent panel of industry experts, the awards recognise Ireland's most popular graduate recruiters across a range of employment sectors.
So what's it like to work for Ireland's largest specialist insolvency practice? Some of kavanaghfennell's newest recruits talk about their experiences and how they're settling in.
Richael O’Brien, Law and Accountancy, University of Limerick
During my final year in college I spent a lot of time researching careers and graduate programs in many areas such as law, finance and accounting. I found it quite exciting, but I mostly put in the effort because of a big fear of “falling” into a job that I didn’t really want to do. Student’s outlooks changed significantly from when I started college, to when I was leaving. I believe that there is a huge advantage gained from doing 8 months work placement during your college course, but I was very surprised when many of my classmates who only gave a lukewarm response to whether they enjoyed their work experience, still ended up going back to the same firms for graduate programs. I enjoyed my work experience experience in Luxembourg, but having worked in a Fund Administration that wasn’t overly busy or challenging, I knew it was an area I didn’t want to continue in. When looking at job descriptions, I looked for terms such as “processing” and “administration” and avoided those types of jobs at all costs.
Having studied two modules of Company Law in college, I already knew about kavanaghfennell, as the partners had been involved in some very high profile cases. Our lecturer spoke regularly about the firm, and I also knew students who had done their work placement here. When I asked my classmates who worked there on their work experience, they were immediately positive about their experience. They described it as challenging and tough, but interesting, and even exciting, which isn’t a word bandied about in accounting circles too often.
The recruitment is taken very seriously. On three separate occasions I met with a senior, a manager, and two of the three partners. It is an opportunity to sell yourself, but also to learn about the work you’ll be doing. I think kavanaghfennell are very good at recognising if the candidate will fit in. Unlike some interviews, I wasn’t made jump through too many hoops, and it was reassuring when I was told what skills I had that would be assets to the Company. They were also very honest about the challenges I would face, and gave me a balanced view so that I would be in a good position to be judge whether or not it was the right move for me. Unhappy employees will rarely make the best employees, and insolvency isn’t for everyone, therefore, getting the right people is something that kavanaghfennell take very seriously.
I started my job in late August 2010. Previously, there were two weeks intensive training for graduates, but our year, the decision was made to spread this out over a few months. I thought this was a better system as it reduced the information overload you would get if you tried to learn the entire insolvency industry in two weeks.
It’s a very busy office, and I found myself with a lot to do within the first few weeks. Six months down the line, there hasn’t been much let up in that regard. We are continuously training, and we’ve had time management training which helps us get a handle on the whole thing.
I work on a team of four, and we deal with Creditors Voluntary Liquidations, Court Liquidations, Corporate Receiverships and Personal Asset Receiverships.
The more difficult aspects of my job include talking to employees, and creditors. I often speak to people in very difficult situations. If we can deal with employee claims quickly and efficiently, we are easing the pressure for someone who has lost their jobs. Often, however, they will receive less than they anticipated, but that’s not something you can control. Keeping a creditor informed and updated regarding dividend prospects will usually keep them fairly happy (no one losing money will ever be happy).
The more enjoyable aspects of my job is when I’m dealing with receiverships. I help out with a bar in town which is in receiverships by paying the wages and dealing with the employees. In college, you might give out about the price of drinks, and rarely worry about the pubs making money, but now I get excited when I see that the till reads are particularly high over the weekend, and I am also encouraged when I pass by the bar and see that it is thronged with people. I believe there will be more trading jobs like that coming in 2011, so I’m looking forward to taking more responsibility including doing more of the accounts for such firms.
If you think you can handle some of the more confrontational parts of working in insolvency, I think that the value of the experience you get as a graduate here will be invaluable. It is, at times, hectic and stressful, but you’ll never be bored, and rather than clock watching and wishing your time away, you’ll always be trying to fit more into your day. If you’re interested in business, the economy, and current affairs, there is definitely an added attraction for working in insolvency rather than any other branch of accounting. If you read the papers, you’ll regularly find yourself reading about your own cases. However, if you are looking for an easy life, and are just interested in punching in the 9-5, I don’t think a career in insolvency is for you.
Conor Egan, Bachelor of Commerce (Accountancy), University College Dublin
My kavanaghfennell journey began just weeks after finishing my final exams in college so the transition from student life into the professional world was quite swift. As with any new job there were a few nerves on the first day but these were soon quashed once I had been introduced to everyone. The warm, welcoming environment in the office is something that is immediately evident and really made the settling in period that much easier.
I spent my first few weeks getting to know the different routines and systems in place in the office. I was also given various training sessions which are designed to cover the basic elements of working in insolvency. I found these really helpful as I was able to incorporate what I had gone through in training to the cases I had been assigned to with my new team. The mixture of training and hands on experience with my new cases really helped to ease me into my role as trainee and allowed me to become more comfortable with professional working life.
I have been at kavanaghfennell for nine months at this stage and I can safely say that everyday is different. I rarely find myself doing the same thing two days in a row. The opportunity to work in such a diverse environment is something that I find incredibly appealing and motivating. kavanaghfennell also offers the chance to work with a vastly experienced and dynamic group of people. Working with an experienced team is something that I really enjoy as it enables me to improve all aspects of my career. It’s comforting to know that if there’s anything I’m every struggling with I can ask someone on my team or even somebody else in the office to help me out.
A typical day for me can involve anything from rent collection, dealing with creditor claims, processing employee claims to preparation of update bank reports or bank investigations. My team are mainly involved in personal asset receiverships at the moment. Given today’s financial climate and the increase in personal bankruptcy, this area of insolvency is very relevant so it is very interesting to see how things work from a receiver’s point of view.
After nine months in kavanaghfennell it’s amazing to look back at my first few days and see how much I have learned. I have gained an enormous amount of experience to date which will stick with me for the rest of my working life. I have grown in confidence over my time here and have hugely improved my communication skills, problem solving skills and report writing abilities, not to mention my knowledge of the insolvency world.
Of course it isn’t all work here at kavanaghfennell. We have a very hard-working social committee who are always coming up with different events for us to let our hair down after a tough slog in the office. Annual events include the Summer BBQ, the Dublin Simon Community Charity Walk and the Christmas Party. Throw in a few more informal outings during the year and we have more than enough nights out to keep us going.
Overall I can safely say that working for kavanaghfennell has, so far, been an incredible experience. The opportunities to grow your career here are so vast that you are always pushing yourself to achieve more.
John Doherty, Masters of Accountancy, Dublin City University and Bachelor of Commerce (Accountancy) University College Dublin
I joined kavanaghfennell in August of last year only days after completing my masters. This was my first experience of working within an office environment and as I had never worked in this type of atmosphere before I was unsure of what to expect.
On the first day I was quite anxious but I soon found that everyone in the firm was very friendly and it didn’t take long to settle in. I started with one other trainee and we were both assigned to a senior member of staff who took us around and introduced us to our team members. We were also each assigned a “buddy”, someone outside of our individual teams who could offer guidance and consultation in an informal setting.
My first week consisted of a series of intensive training sessions in the key areas of insolvency. kavanaghfennell understand that most undergraduate courses do not cover these issues in great depth and they take the time to ensure that you are given the opportunity to gain a solid foundation with which to begin your career. The firm also organize further training sessions throughout the year which deal with more practical issues and are attended by all levels of staff.
A typical day involves dealing with creditors, debt collection, dealing with ex employees and processing their entitlements, preparing reports for submission to the ODCE and the High Court and carrying out bank investigations of insolvent companies. Each day brings new and exciting challenges and you soon develop your business acumen by dealing with such a wide variety of clients. Since I began working for kavanaghfennell I have been involved in Creditor Voluntary Liquidations, Court Liquidations and Receiverships in an array of business sectors ranging from petrol stations to fashion retailers.
There is heavy trainee involvement in all cases. There are weekly team meetings with senior members of staff which promote open discussion on the progress of each case. Therefore, every team member knows exactly what stage each job is at which means that you are confident in dealing with all public queries, whether they be from solicitors, company directors or former employees. kavanaghfennell currently employ an open door policy which allows you to seek advice from senior members of staff, right up to partner level, on any difficulties you may be having, whether big or small.
In January a number of work experience students came to work in the office and this gave me an opportunity to pass on some of the advice and help that I received when I started out in the firm. I was pleasantly surprised to realize just how much I had learned in my first few months. Like many of the trainees I started with, I was given the opportunity to assign a portion of my work to the new recruits which is a testament to the high level of training that we received. It also allowed me to be exposed to more complicated duties within my team.
There is a dedicated social committee within the office who organize staff outings every few months. My first night out with the firm was the Christmas party and this gave all the trainees a chance to showcase their hidden talents, most of which should have stayed hidden, however, the night proved to be a huge success. In September the social committee also organised a charity walk for the Dublin Simon Community from Howth to Ballsbridge, raising some much needed funds for the charity.
Life as a trainee in kavanaghfennell is challenging, character building and very rewarding. It is an excellent place to grow and develop your skills. I am confident in knowing that I will receive the best possible training in one of the most relevant specialist firms in the current Irish economic climate.
Niall Kearney, Law and Accountancy, University of Limerick
During the BA Law & Accounting degree in University of Limerick each student is fortunate enough to be afforded the opportunity to spend 8 months on placement during their second semester of third year. The objective of this is to allow each student to experience what it is like to work in a professional environment. My placement brought me to Simmonscourt House in Ballsbridge where my eyes were opened to the exciting world of insolvency. Fortunately my placement at kavanaghfennell went well and upon leaving I was offered the opportunity to return on a three and half year training contract following my graduation. Needless to say I accepted immediately.
Making the transition from college life to working in a professional environment often presents a serious hardship to a large portion of graduates, however this adjustment was far less daunting given the fact that I would be returning to a familiar environment. My first day back we went through the normal formalities of being introduced to all the staff, or re-introduced in my case, and then it was essentially back to work for me. I had been briefed in advance of the status of the majority of the cases but needless to say I was rather rusty and it did take me some time to re-acclimatize. However, it is at this juncture that one of the overwhelming qualities of kavanaghfennell comes to fruition. No matter how busy a colleague might appear to be they will always make time to assist you with any difficulties you may have. When I was initially informed that a strict open door policy is in operation in kavanaghfennell, I was a little dubious as any one might be. It is hard to imagine the exceptionally busy seniors, managers and directors having the time to help you with a basic task but it genuinely is true. The policy even extends to the highest echelon of the firm, with the partners always willing to offer an attentive ear to any issues you might have.
Each day in kavanaghfennell is different from the last and this is highly enjoyable. The variety of work can range from preparing bank reports to dealing with employee queries, carrying out a bank investigation to liaising with legal advisors on landlord/tenancy matters. In the fast-paced insolvency world you really need to be pragmatic and innovative. Every day is a challenge and requires all your creativity and intelligence. This all culminates to create a real sense of job satisfaction.
The exposure and opportunities I have been afforded surpass all expectations. I have been involved in the landmark Fleming case as well as Buy & Sell Limited, Belgard Motors and Tralee Beef & Lamb. There is little doubt that the experience I have gained in my time to date is unquantifiable.
It is not all work, there is a strong emphasis put on the social side of life in kavanaghfennell. The social committee is dealt the task of organising the numerous events engaged in during the year. These events include the summer barbeque, race nights and summer tag rugby which provide a nice break from the normality of work. My first night out with the firm came in the form of the Christmas Party and it was an exceptionally good night for all concerned. It was good to go out with all the other graduates as well as getting to know other members of staff which you might not deal with on a daily basis.
To summarise, there is no doubt I am exceptionally fortunate to be a kavanaghfennell employee.
Daryll McKenna, Masters of Accountancy and Bachelor of Commerce (Accountancy), National University of Ireland Galway
I first joined kavanaghfennell only weeks after finishing my masters. This was my first time to work within a professional environment so everything was completely new to me and therefore I did not know what to expect.
On the first morning I was quite nervous, though not for long, everyone in the firm was very friendly and it didn’t take long to settle in. I started with three other trainees, each of us was assigned to a senior member of staff who introduced us to all the staff and helped us find our feet. I found this very helpful as any questions I had I could ask my senior and he was happy to help out.
From the very first day I could see the firm was very dynamic and knew I would enjoy working here. During the first week our daily routine was quite informal, we had various trainings with senior staff right up to partner level, this also gave us a chance to get to know everyone better. I found the induction trainings really helpful as it gave me a general insight into the different types of insolvencies and work which the firm carries out.
These trainings were essential in preparing us for the tasks we would be carrying out on a daily basis.
One thing that really stood out was the high level of junior involvement in each assignment. Juniors are kept updated with any developments on all cases and are assigned high levels of responsibility right from day one.
A typical day involves dealing with creditors, debt collection, carrying out detailed financial investigations on insolvent companies, dealing with the ex-employees and processing their respective entitlements, preparing reports for both internal use and for submission to the ODCE and the High Court, the list goes on. By working on such a diverse portfolio of clients each day brings a new challenge and there is always an opportunity to learn something new or learn a new skill set. Being involved regularly in weekly case meetings with senior staff and management has really developed my interpersonal skills and I have developed great confidence in my work through this.
Since joining, I have gained valuable experience in all aspects of Insolvency and across the wider business circle. My work is varied, challenging and interesting and the working environment is great, I enjoy coming to work every morning, however, coming straight from college meant the early morning starts took awhile to get used too!
kavanaghfennell provide any additional training you require whether it be to help with everyday tasks or exam related. There are also plenty of social events within the firm. My first night out with the firm was the Christmas party, this gave all the trainees a chance to show everyone their singing voices though I’d rather forget that night! We also play soccer regularly and take part in various activities organised by the different student accounting bodies.
kavanaghfennell is an excellent place to grow and develop both on a personal and professional level.
Nicola Norris, Law and Accountancy, University of Limerick
I first heard of kavanaghfennell when Tom Kavanagh came to speak to our class in October 2008. Tom spoke about kavanaghfennell, the insolvency industry, the current climate and the Prize in Company Law which they were sponsoring. I was struck by the diversity within the role, the passion which Tom spoke about his profession and the scope for progression. However I was focused on my studies and decided not to apply to any practice until after my final exams.
I was fortunate enough to come first in my class in Company Law and therein winning the kavanaghfennell prize in Company Law. I went to Dublin to collect my prize and shortly thereafter I undertook the screening process to join kavanaghfennell. The process involved three interviews, which were both friendly, welcoming and detailed. I successfully obtained a place and started with the firm shortly afterwards.
I, along with the other three graduates, undertook a two week induction training programme which was very thorough. The two weeks were broken down into segments, some with the partners, some with seniors and semi-seniors, our financial controller and our receptionist. It was a great way to get to know everyone and also gave us an opportunity to see their roles from their perspective, and made you aware how your role is so central to the team.
The firm provides training courses both internally and externally throughout the year. I find the internal training courses very informative and they really help me to brush up on a new area of expertise. The new joiners get to compete for a forty euro One For All voucher at the end of training session. It creates a bit of fun and also entices you to learn as much as possible!
I have being involved in many cases from Belgard Motors to Bunclody Electrical. A lot of my cases also come from work from Bank of Ireland and Allied Irish Banks who appoint us as Receivers on some of their clients. It is brilliant to be at the hub of very topical issues at the moment. kavanaghfennell receives a lot of its work from referrals, which is extremely rewarding to see.
I have often been struck by how my degree comes into play in the role and I can see why kavanaghfennell tend to target my course. My role involves a perfect marriage between law and accountancy.
It is not all work in kavanaghfennell and they ensure we have a good work life balance from bowling nights to charity events we always have lots to look forward to.
In the last nine months I have gained an awareness of happenings around me, independence and confidence. I always know that no matter how difficult a situation may seem, there is always someone to lend a hand or advice whether it be a semi-senior, senior or partner.
I honestly love coming to work, everyone gets on so well and there is a great team atmosphere. I deal with a wide variety of work involving the High Court Examiner, the ODCE, creditors, company directors, etc which makes it all the more enjoyable. Don’t get me wrong, there are some tough times with sticky creditors however with excellent training we get and the open door policy from our colleagues we are always able to cope with any situation.
kavanaghfennell also takes in two to three work placement students a year. Three started in January 2010 and I was pleasantly surprised about how much I had learnt when I went to lend advice to them. It was also nice, to borrow a well used phrase, “extend the traditional kavanaghfennell welcome” to them as everyone had done to me a few months previous.
For me, this is the perfect role. I get to use my problem solving and analytical skills, interact with a variety of people within a supportive and friendly working environment.
Shane Quigley, Accountancy and Finance, National University of Ireland Maynooth
Like most graduates I was apprehensive about making the transition from university life into the graduate working environment. To make things that little bit more daunting, I opted to commence my training contract immediately following my summer exams before the main batch of graduates.
However, any fears I had were quickly dispelled as I commenced my induction training programme. I was guided through the principles and objectives outlined in the kavanaghfennell Charter during one hour long training sessions with Tom, Ken and David, the three partners in the firm. The day-to-day work practices and various office systems were also set out in further one on one training sessions with each of the managers and seniors in the firm, each taking a specific topic. The structure of the training program provided an excellent opportunity to get to know each person on an individual basis.
As a junior I was offered the opportunity to embrace many of new office systems developed during the year. One such example included the day to day updating of the award-winning website InsolvencyJournal.ie which the firm launched to provide a dedicated information service on all aspects of the Insolvency and Corporate Recovery.
The firm also held regular lunchtime training sessions throughout the year. These sessions were attended by all staff on various topics and issues relating to our profession. The sessions also included presentations from leading legal law firms, insurers and financial institutions on a variety of different topics.
I have also been directly involved in a number of high-profile Liquidations such as the Belgard Motor Group, Ladybird Clothing and the Fleming Group. Receiverships which I have actively worked on included the Buy and Sell and a number of construction Receiverships where the developments are being completed and sold by the Receiver.
In the Liquidation of Belgard Motors specifically, I was offered the opportunity to join the team and become actively involved in the day to day management of the case. Having come from a background in the motor industry, I was able to apply my knowledge directly to the case. This included the trading of Wholesale Parts distributors over a four week period.
We also had plenty of time to enjoy ourselves. In July we attended the Dublin City Accountancy Social Society (DCASS) Soccer Tournament. We eventually finished as runners-up despite our best efforts and the immense support from our loyal following of fans. We have completed some recent new signings and, following a grueling pre-season training schedule each Monday night on the astro turf of Pembroke Hockey Club, I am sure 2010 will see the silverware coming to Ballsbridge! You have been warned!
The summer barbeque and sports day also proved to be a huge success with a full attendance from all. Despite being sidelined with a knee injury, my adjudication skills were called upon to help oversee proceedings with the video footage being called upon on more than one occasion!
In September the office social committee organised in a charity walk for the Dublin Simon Community from Howth to Ballsbridge, raising some much needed funds for the charity.
The Christmas party brought with it an X-Factoresque musical showcase, whereby all newcomers to the firm had to sing a party piece and be subject to critical analysis from an expert panel of judges all of whom happen to work for kavanaghfennell. My rendition of “My Little Honda 50” received great critical acclaim from both the judges and the audience alike. Don’t worry however – I have opted to stick with my chosen career!
Choosing to join kavanaghfennell has proven to be a tremendous career decision for myself personally. I had no hesitation in recommending the firm to my peers in this year’s milk round applications. The experience and skills garnered during my contract to date has been truly exceptional. An excellent training programme, well defined work practices, combined with the company’s open door policy and above all the strong close knit work environment have made my first 10 months with kavanaghfennell extremely enjoying and fulfilling.