Class Of FAQs

Paul Harris, one of the founders of Rand Merchant Bank started the RMB Class Of Programme in 1993 to offer street-smart maverick entrepreneurs from non-financial industries (with a passion for finance, with far more than just good grades) an alternative entry into the bank.

Paul didn't want RMB to lose out on superstars, just because they didn't have the appropriate background, and so the grooming Programme came about to entice said mavericks and provide them with the tools to succeed and enter the world of Corporate and Investment Banking.

The RMB Class Of Programme is unstructured, but supervised at a high level and places candidates in a sink-or-swim environment. Chosen candidates are placed on a two to three-year rotation programme to learn more about Corporate and Investment Banking. They are free to switch between departments during this time and are responsible for their own career development. Class Ofs have access to a team responsible for assistance and advice around rotations, although they are encouraged to do their own networking as they become more established.

The rotations are completely unstructured and tailor-made to suit the individual, the desired learning outcomes, and the opportunities that are available at the bank at the time. Some people rotate only once or twice (the average length tends to be around six months per rotation), while others prefer to rotate as much as possible before rolling off into one of the divisions at RMB.

The procedure is very simple. If you find a division in which you would like to remain permanently, provided the Business Unit Head is in agreement, the roll off happens by agreement between the BU Head and the Class Of. Class Ofs are already permanent members of staff, so deciding on the end destination is merely a formality.

The RMB Class Of recruiting team receives CVs with motivation letters and academic transcripts from applicants wishing to join the Programme.

A Class Of screening panel takes place each month and successful candidates are invited to participate in interviews. There are three rounds of interviews, with a panel of around four people per round. The final round is with the Management Board of RMB, including the CEO.

The Class Of Programme is ideal for someone wanting to break into Corporate and Investment Banking, but who is not yet sure which area within the bank they are best suited to. The Class Of Programme allows the individual to rotate through several different areas and divisions within the bank, with a view to finding a home in their eventual area of choice.

Class Of candidates are chosen for their ability to think beyond the barriers of conformity. They are total all-rounder mavericks who have the ability to adapt and change to take advantage of opportunities. They have at least four years' working experience and they don't have a background in Corporate and Investment Banking. In fact, the more unusual their work experience and degrees are, the better. Previous Class Ofs have included medical doctors, historians, wine makers, lawyers, management consultants etc.

Potential Class Of candidates are self-starters, smart, driven and have excelled in all aspects of their lives — ranging from sporting achievements to entrepreneurial excellence. Successful candidates tend to have strong academic achievements, post-grad qualifications, star quality and clear X-factor.

Candidates' ability to think on their feet, alignment with RMB's culture and values, and ability to demonstrate an unparalleled excellence of character are tested.

• Intellect
• Achiever
• Entrepreneur
• Financial acumen
• X-Factor

Yes. Academic qualifications are important — not only in terms of qualifying for the Class Of Programme, but also to work for RMB. At RMB we nurture and celebrate inspired thinkers and entrepreneurs who challenge the boundaries, engage in vigorous debate, create their own opportunities and apply thinking that can change our world. We do not subscribe to business-as-usual practices — rather big thinking that requires our employees to stretch themselves, to push the boundaries, to think differently, have an entrepreneurial spirit and a desire to make a difference in the world.

Yes. A Class Of is a well-rounded person who has excelled in all aspects of their lives — ranging from academic achievements to sporting excellence and entrepreneurial brilliance. If you are the summa cum laude student who has travelled to interesting places, who sold lemonade to fund your studies while winning the boat race in the pub, then you are that one in 100 000 individual who we want on the RMB Class Of Programme.

We receive in excess of 3 000 applications for the Class Of Programme each year and we hire two to three candidates annually.

No. Generally we would say that you are already in the finance field and therefore do not need Class Of to join RMB. You could apply directly.

Again, we would recommend that a direct application to one of the areas of the bank makes more sense than via the Class Of Programme.

No, apply directly to Corporate Finance. If that is where you want to be, there is no need to spend time rotating around other areas of the bank as this only delays you becoming firmly established in the Corporate Finance team.

The Class Of Programme is highly regarded and we work hard to maintain its exclusivity. We review several applications and only make a handful of offers each year, which goes to show just how extraordinary the Class Ofs actually are.

Our Class Of alumni are individuals in the professional world who have gone on to become notable achievers (CEOs of large institutions, top deal makers etc.) which proves the Class Of Programme is a great trajectory.

For a candidate with a non-relevant degree or background it would be hard to join RMB as a direct hire as the business units have a need for prior experience. The Class Of Programme would therefore offer an alternative entry into the bank. While on the Programme, the individual can build up the appropriate technical skills to enable him/her to perform the respective role in the bank.

If you are not sure what you want to do at RMB, the Class Of Programme offers you the luxury of rotations through the different business units before deciding where to roll off. Another benefit of being a Class Of is that it gives you access to a network of alumni, which you can leverage, both while on the Programme, and after rolling off.

There are few, if any downsides to the Programme, as long as the pre-selection is done appropriately. During the recruitment process, we spend time probing whether or not Class Of is the right entry point, or whether the individual should apply directly. If this decision is made correctly, the individual only benefits from time spent on the Programme. If someone knows where they want to be, time spent rotating might be seen as a delay to the ultimate goal of becoming an established transactor in the area of preference.

Yes. Class Ofs are required to get involved in extramural (strategic) projects, in addition to the work required of them as part of each rotation. Class Ofs work closely with the strategists of RMB to get exposure to these projects.

Yes. Both as a group and individually, Class Ofs are given ample time with senior management. Monthly luncheon sessions are set up with leaders throughout the FirstRand Group. Should the Class Of team require additional sessions, they only need to raise a hand in order to have these set up.

Yes. Class Ofs are offered mentorship and personal development throughout their rotations. It is however largely self-driven and depends on the individual's requirements and preferences rather than a formal mentoring process.

Many. We are very proud of our Class Of alumni. Most of the Class Of alumni have performed beyond expectations in their chosen routes through the bank, and then went on to hold positions of leadership and or senior management in other organisations, such as Michael Jordaan (Ex CEO of FNB), Herman Bosman (Chief Country Officer, Head of Global Banking at Deutsche Bank, CEO of RMI), Murray Legg (Owner and co-founder of Stratos Capital and SA Cardiosynthetic) to name a few.

You can also visit our social media pages (YouTube and LinkedIn) to learn more about our current Class Ofs and Class Of alumni.

Not specifically, although it is the aim of the Programme for the Class Ofs to become managers in time – albeit of small teams. That said, the structure of RMB is not hierarchical and management tends to evolve when individuals prove themselves successful in what they are doing, rather than as a structured promotional programme.

There is a strong emphasis on ongoing and additional learning at RMB Class Ofs (like all RMB employees) are not only encouraged, but expected to pursue additional studies. The bank encourages said studies, financially and from a support perspective. There are training sessions for the Class Of group as a whole, and then there are additional individual courses and studies available dependent on need.

Class Ofs like all RMB employees, take part in a 360-appraisal process, and also have additional feedback sessions: a goal-setting meeting at the beginning of each rotation and a performance assessment session at the end of each rotation. Areas for development can be addressed with coaching or additional studies.

"I came from a non-financial background, so I immediately benefited from the Programme by picking up a variety of different skills as part of the rotation programme in the bank..." – Simon Fifield, Head of RMB Westport.

"It was a very challenging but rewarding experience..." – Mark Fox, Class of alumni

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