In an unusual move, the board of Credit Suisse Group AG Friday issued a statement to back Chief Executive Brady Dougan, saying it is confident management's plans to bolster capital will ensure Switzerland's No. 2 bank meets and exceeds regulatory requirements.

Dougan's problems have been building in recent days. Last week, he was caught up in an unusual public spat with Switzerland's central bank over whether Credit Suisse's capital cushion is adequate. Meanwhile, the Swiss bank's stock has fallen sharply and some of its bankers are grumbling about Dougan's performance as chief executive.

The questions about Dougan have intensified in recent days and represent an unwelcome distraction for the bank, which has prided itself on avoiding much of the turmoil that has befallen its larger rival, UBS AG.

The board has now moved to quell any speculation about Dougan's future at the bank, saying it was comfortable with the progress that has been made toward meeting the Basel III capital requirements.

The spat with the central bank stems from the fact that some of Credit Suisse's capital is still held in the form of bonds, which will turn into equity later. The bank more than meets current requirements, but under the strict Basel III rules, which will come into force in 2019, this capital doesn't count. The central bank's criticism centered on that fact, as it said if the euro-zone crisis turns markedly worse, such equity capital is lacking.

Moody's Investors Service's long-anticipated downgrade of more than a dozen global banks, including Credit Suisse and UBS, to some extent supports Credit Suisse's claim that its capital is adequate. Only two banks—Royal Bank of Canada and HSBC Holdings PLC—are rated higher.

"We are pleased that Moody's continues to recognize Credit Suisse as one of the most highly rated banks in its peer group, citing our balanced business portfolio, strong liquidity position, improving capital position as well as our low exposure to the peripheral European economies," said Chief Financial Officer David Mathers in a statement.

Credit Suisse had its deposit and senior debt ratings rating cut three notches to A1 with a stable outlook from Aa1 in Moody's review of 17 banks with global capital markets operations.

Credit Suisse shares ended 0.6% lower Friday at 17.95 Swiss francs. The shares have lost around a fifth of their value this year, compared with a small increase in the price of rival UBS's stock. Compared with their most recent peak in late 2009, Credit Suisse shares have lost more than 70% of their value.

That has eroded the internal standing of the once-popular Dougan and drawn criticism from investors.

But Dougan has plenty of defenders. He helped Credit Suisse navigate the financial crisis and substantially strengthened the bank's capital buffers. More recently, Dougan has won plaudits for an aggressive two-year, 2 billion Swiss franc ($2.09 billion) cost-cutting campaign that the bank says is exceeding targets.

Another factor working in his favor: The bank lacks obvious candidates to succeed him.

This story first appeared on WSJ.com.

Write to Anita Greil at anita.greil@dowjones.com

Goldman Sachs Group Inc. executive Diego de Giorgi is expected to leave the Wall Street firm to take a senior role with Bank of America Merrill Lynch in London, according to people familiar with the matter.

De Giorgi, a rising star and chief operating officer of Goldman's vaunted investment-banking unit, is expected to become co-head of global corporate and investment banking for the European region, one of the people said. His co-head is to be Bob Elfring, who runs investment banking in the Benelux region and northern Europe for BofA. As with all such personnel moves, it is possible plans could change at the last minute and Goldman could hold onto de Giorgi.

Should the move be completed, it would be a coup for BofA, which has been seeking to rebuild its investment-banking ranks in Europe after a talent drain precipitated by the U.S. lending giant's acquisition of Merrill Lynch at the height of the financial crisis. The firm has regained a measure of stability lately under global investment banking head Christian Meissner and won roles on a number of marquee merger and underwriting deals.

The European investment-banking role at BofA was left vacant when Meissner was promoted to the global role earlier this year. Meissner, a Goldman alum himself, is said to be close to de Giorgi from his days there.

This story first appeared on WSJ.com.

Write to Dana Cimilluca at dana.cimilluca@wsj.com

Tip: Guardian Life to Hire 450 Financial Reps

Financial services and insurance company Guardian Life will hire 450 more financial representatives for its agencies across the U.S. by the end of the year. Representatives are needed to sell financial advice and products such as life insurance, annuities and disability protection. The company is especially looking to hire women and younger financial advisers.

Tools to get the job:

Tips for the Inexperienced Financial Adviser Resume

The Perfect Insurance Resume

Nine Rules Women Must Follow to Get Ahead

Tip: Banks Eager to Hire Veterans

The second annual Veterans on Wall Street job fair was held last week and banks jostled to get top military talent to join their ranks. Citigroup is on track to hire more than 1,000 veterans in 2012 and has hired 344 as of May 31. J.P. Morgan has hired more than 1,000 veterans so far this year. Last year it brought on 3,000. Positions are available in the banks' technology and operations, branch banking, investment banking and sales departments.

Tools to get the job:

How to Get a Job at Citi If You're a Veteran

Interview Blunders to Be Aware Of

Wall Street Gives Back

Tip: Wealth Management Hotter Than Ever

More millionaires around the world means increased demand for wealth managers and private bankers to advise them on how to structure their portfolios and preserve their wealth. RBC Wealth Management will triple its ranks in the U.K. to 100 by 2015. British bank Coutts and Swiss bank Mirabaud also plan to expand their staff. And stalwarts like Citigroup and Barclays Wealth are continuing to hire.

Tools to get the job:

The Perfect Wealth Management Resume

The Top Eight Rules of Networking

Seven Ways to Keep Your Resume Out of the Trash

Last summer, Credit Suisse announced a plan to cut 3,500 jobs. A year later, it's still making redundancies under the initiative. The firm will fire 60 directors and managing directors in its European investment banking department, Reuters reports, nearly a third of the unit's head count.

Those affected work in mergers and acquisitions as well as financing and debt issues. Between 10% and 15% of managing directors will be laid off and a third of directors will be fired. Altogether, the bank wants to cut 7% of its workforce around the world.

These cuts aren't being made in a vacuum. Many banks around the world are doing the same, and they're likely to continue, according to Societe Generale research analyzed by eFinancialCareers. Employment in finance since 2007 has dropped by 7%, far less than during the last two major contractions. In 2001, headcount dropped by 16% and by 19% in 1987. Banks have a lot more cutting to do, the report concludes.

Another bit of bad news: The industry hasn't seen the last of smaller pay pools. The report says banks will cut compensation by 29% in coming months.

Asian Cuts (Reuters)

Asia may be cooling off after years of expansion. Layoffs are spreading at many big banks, especially in the equities arena.

New Gig (On Wall Street)

Mary Mack has been promoted to president of Wells Fargo's financial services group. She'll oversee the firm's advisory services. The firm is looking for someone to replace her as head of wealth brokerage services.

Changing Industries (FT Alphaville)

More and more scientists and engineers are forgoing the lab for the trading pit and are choosing to become hedge fund managers.

People Skills (Poets & Quants)

You may have the best quantitative skills on the Street, but if you don't know how to get along with people, they're all for nothing. So Wharton is incorporating a team-based discussion as a new component of its application process.

New Reach (DealBook)

Morgan Stanley is letting its 17,000 financial advisers have access to Twitter. The only catch is advisers will have to tweet from pre-approved thoughts. Buzzkill.

Thain Knows Best (Bloomberg)

John Thain recently won the "Best Dad" award from the Father's Day/Mother's Day Council Inc. We wonder whether his kids were polled.

Buzz Around the Office

The Ultimate Stepmother (Shine)

After giving birth to a litter of puppies just weeks ago, a two-year-old American bulldog named Molly is now nursing four young kittens who were orphaned when the family cat was hit by a car.

List of the Day: Summer Fridays

Everyone wants to take off Fridays during the summer, but only few will succeed.

1. You'll only get the privilege if you've made yourself indispensable to your company.

2. Draw up a plan to show your boss how you'll complete all your work by then.

3. Ask whether the flexible schedule might be rotated throughout your team.

(Source: Glassdoor.com)

Bank of America plans to double the number of military veteran hires to 1,000 this year, with opportunities in IT and operations, military assistance, consumer banking and wealth management. The bank currently employs 6,000 veterans, reservists and active-duty service members among its 282,000 employees.

Veterans are a particularly good fit in technology and operations, said Jeff Cathey, a former Navy captain now a BofA senior vice president in charge of the bank's military business. The skills needed for those positions align with the field training that many in the military receive. "All divisions of the armed services require that kind of hard skill development," he said.

Cathey himself was hired in 2008 for his understanding of how the departments of Defense and Veterans Affairs and various military non-profit groups operated. He oversees bank contracts with the Defense Department to operate 75 banks on military sites in ten foreign countries, including Italy, Germany and Japan, as well as helps provide vets with housing loans and other financial services.

Aside from roles in IT and operations, Bank of America has open positions for financial advisers, traders and wealth managers which require specific levels of certification. Veterans are often equipped to handle those tests, said Cathey. "Those who have been in the military are used to all sorts of qualification, certification and licensing processes," he said. "Very often they like that competitive challenge."

Bank of America also wants to hire veterans to provide over-the-phone support to their comrades on a 24-7 basis, said Cathey. The company set up three toll-free military assistance units in early 2011 to provide information to military personnel on how they can receive mortgage interest rate relief and other financial and legal provisions under the Servicemembers Civil Relief Act. Bank of America currently has about 200 employees working in those units in Norfolk, Va., Tempe, Ariz. and Brea, Calif.

"We want veterans who know how to speak to their fellow service members, know the legislation and understand the payment allowance systems from the Department of Defense," said Cathey.

Write to Damian Ghigliotty at Damian.Ghigliotty@dowjones.com

With economic uncertainty not going away soon, those eager to land a sales and trading role must show that they can navigate an unpredictable market at lightning speed. While there are fewer job openings at bulge bracket firms than five years ago, more finance professionals are putting their sales and trading skills to work in smaller boutique firms.

No matter where you end up, a less-than-perfect resume will automatically knock you out of the running. Even before the face-to-face interview, hiring managers want to see that you have a thick skin when it comes to financial ups and downs, says Missy Bailey, a senior associate director of MBA career services at the University of Southern California Marshall School of Business who works with students eager to work in financial services. Your resume "needs to show that you can change course really quickly and that you can focus," Bailey explains.

Here's how to craft the perfect sales and trading resume:

Keep Global Trends in Mind

Since the financial crisis, showing prospective employers that you've had experience deciphering complicated financial products is essential. Your understanding of risk and an unwillingness of being excessively leveraged is another important skill to convey. "This could take the form of framing trading results in terms of allowable risk limits and demonstrating a thoughtful approach to deciding when to unwind," suggests Jeffrey Fischer, a Chapel Hill, N.C.-based leadership consultant who works with M.B.A.s and clients like Goldman Sachs.

Don't Forget Keywords

Resumes are often parsed electronically before being delivered to hiring managers or recruiters, says Robyn Feldberg, a resume expert and founder of the Abundant Success Coach. "If you know they are looking for a Series 7 license [and you are getting one] you can include it under a section on your resume and indicate you are studying for it and will test for it [at a later date]. You want to get the keyword in there," says Feldberg who is based in Frisco, Texas.

Highlight Certifications

While an MBA is not a requirement for a position on a trading desk, industry-specific certifications (like a Series 7 and 63) can show employers that you're serious about your career track and are willing to make the necessary investments.

Flaunt Your Math Knowledge

Sales and trading is all about numbers, and employers are eager to see you have those skills right off the bat. "You have to be good at basic, good old-fashioned math -- the numbers in and of themselves and the ability to analyze them," says USC's Bailey. Cite examples to convey how you were able to quickly make decisions that incorporated your mathematical knowledge.

Use Metrics

Let your resume bullet points speak for themselves by highlighting quantifiable accomplishments rather than describing what you did at your previous employer, says Feldberg. "The ratio should be five parts accomplishment to one part job responsibility," she says. Include details that are easily comparable across candidates such as earnings estimates or sales records.

Convey Your Work Ethic

For many, sales and trading is synonymous with intense 90-hour work weeks and that's exactly what hiring managers need to see before they will bring you on board. While you can't staple your time card to the back of your resume, it's possible to drop subtle hints, explains Feldberg. For example, "comment on a former performance appraisal that's praising you for working 16-hour days," she says.

Show Off Management Skills

At more senior levels within sales and trading, it's important to demonstrate leadership skills from a previous position. "Managing trading types is difficult in any market, but in an environment of stricter controls, reining in people who are incredibly independent becomes much harder," says Fischer, whose clients have gone to bulge bracket firms like UBS and Bank of America Merrill Lynch. For example, include specific performance metrics on a team or project you managed.

Sweat the Small Things

Regardless of the position, a resume is all about details. Before throwing your hat into the ring, make sure to really do a thorough edit: check for typos, align spacing, highlight applicable achievements, and make sure your job descriptions fit the position that you're going for. In most finance roles, stick to a traditional resume format which includes a one-page description of previous experience and details your applicable skills and education. In many investment banking roles it's a good idea to leave the objective off your resume, says Bailey.

---

When writing your resume, it's important to come across as sharp and hard-working as you pursue a sales and trading career. Most managing directors are more impressed with work ethic than high-level degrees and your resume should convey your intense interest in this type of career path. If you're making a career change, consider getting an unpaid internship or short-term consulting assignment to add relevant experience to your resume.

Write to Alina Dizik at editor@fins.com

Well, they may not be Kim Kardashian or Ashton Kutcher worthy, but soon the tweets of 17,000 financial advisers from Morgan Stanley Smith Barney will enter the Twittersphere under a new program at the brokerage.

The firm recently approved a program to let the FAs choose from a list of pre-approved messages and post them on Twitter. They can also provide pre-approved status updates to their LinkedIn profiles.

Now available as tweets are morsels such as:

What's an equity investor to do? Read these 5 key principles offered by MSSB strategists.

The more you know about the divorce process, the better equipped you will be to pursue your goals.

How much are you contributing to your 401(k)? What percentage of your salary? Consider these key factors.

Exiting your business can be the deal of a lifetime, but how much experience do you have? Read on.

It's MSSB Support Staff Appreciation Week – Thank you to my team for your dedication to first class service.

The advisers are limited to pre-approved posts under social media rules from Financial Industry Regulatory Authority and Securities and Exchange Commission. A year ago, only 600 financial advisers at Morgan Stanley Smith Barney were allowed by the firm to use LinkedIn and Twitter.

The posts tout and link to the firm's market analysis and commentary, wealth management subjects as well as some social issues, like commemorating veterans on Memorial Day, said Lauren Boyman, director of digital strategy and content at Morgan Stanley Smith Barney.

"We are expanding this program because FAs have found it useful in developing new business and staying in contact with existing clients," she told FINS.

Financial adviser Mark Scribner, who tweets under the handle @mscribnerMSSB, has around 10,400 followers. Another adviser, Chris Reedy, tweets under @ReedyatMSSB and has more than 1,000 followers.

Of the 600 advisers who took part last year, 40% said they brought in new clients through social media, the FT reported.

The firm is also experimenting with a pilot program that allows 20 advisers to compose their own tweets and send them to a member of MSSB's communications review group for approval before they are published. The firm is deciding whether to extend that program to the rest of the firm.

Write to Julie Steinberg at julie.steinberg@dowjones.com

You've heard that Asia is the place to be. Then you heard Asia was cooling down and was not the place to be, unless you were in something like wealth management.

Here's a part of Asia you may not have considered, but may want to. Myanmar, which was closed to the world for nearly 50 years, is beginning the laborious process of opening itself up. Myanmar's perestroika, if you will. And glasnost, too, we suppose.

Reforms are being implemented and that means opportunities exist to build a financial system. The country has invited 22 local companies to list on a new securities exchange it wants to install by 2015. The managing director of Myanmar Securities Exchange Centre Co. told The Wall Street Journal that it might set up shop in both Yangon and Mandalay, two cities in the country, and will nearly double his team of 12 employees to work on creating the exchange and train brokers.

The Tokyo Stock Exchange and Daiwa Securities Group Inc. have agreed to work with the Central Bank of Myanmar to facilitate developing trading systems.

Time to learn Burmese.

Your Choices (FINS)

Morgan Stanley Smith Barney advisers will now be able to choose from pre-approved messages to post on their Twitter and LinkedIn accounts. Don't expect to see "I LOVE YOU BIEBER" tweets any time soon.

Nervous Nomura (WSJ)

Nomura's shareholder meeting will bring together investors who are anxious to hear whether the Japanese bank's top management can pull off its vision of becoming an international investment banking powerhouse.

Sales and Trading Perfection (FINS)

Here's an updated guide to the perfect sales and trading resume.

Small Bankers Needed (Bank of America)

Bank of America just hired 30 small business bankers in Washington state. The hires come as part of the bank's plan to expand small business banking across the country.

Veteran Hiring (FINS)

Bank of America will bring on 1,000 military veterans in total this year, double the amount it hired last year.

Only in Europe (NYT)

The European Union's high court just ruled that if employees get sick on their vacation, they're legally entitled to take another. This would never, ever happen in America. Ever. Ever.

Working from Home (Bloomberg Businessweek)

From the Department of Obvious Inferences comes yet another study that says people goof off when they work from home. Color us shocked. We also want to know who keeps commissioning these surveys.

Buzz Around the Office

Imitation is the Sincerest Form of Flattery (Death and Taxes)

Country music fan Nathan Blankenship may want to reconsider his wardrobe choice next time he heads to a Kenny Chesney concert.

List of the Day: Making the Most of Your Time

If you want to do less (or no) work on Friday, here's how to get your work done in just four days.

1. Find out your most productive hours and do the bulk of your work in them.

2. Cut out any time-wasting websites.

3. Draw up daily to-do lists.

(Source: MoneyWatch)

Private equity has long been known for its high salaries and elite roles. Bottom line: Competition is fierce and if you're eager to break-in, a less-than-perfect resume can easily eliminate you from the running.

Whether you're applying to a middle-market firm or one of the largest PE firms -- it's worth taking the time to pore over the details. For a PE job, even minor misspellings, grammatical errors, or formatting mistakes on your resume can hurt your candidacy.

Making matters more complicated, "a private equity resume has to go into a lot more detail because [candidates] have to back up everything," says Deborah Jones, a certified resume writer who sometimes creates three- or four-page resumes for job seekers. Once you've gathered all of the details, keep in mind that your resume can be longer than the traditional one-page resume -- provided the information is necessary.

Here are some more tips on getting all of those details right:

Tailor to Each Industry

With many private equity firms focusing on specific industries, it's important to highlight your involvement by tailoring your resume to each company and position, says Spencer Hoffman, a managing director at Philadelphia-based Lovell Minnick Partners LLC, a mid-market buyout firm that focuses on the financial services industry. With so many applicants, Hoffman has the luxury of making sure the people he hires have specific industry experience. "Having a couple of different versions of a resume isn't a bad thing," Hoffman says. For example, if you're applying to a private equity firm that focuses on health care, it's important to have a resume that culls the details from any previous experience covering the space.

List Hobbies or Activities

Listing personality-defining hobbies or activities can increase your chances of landing a job at many PE firms. The performance-driven culture can create a stressful work environment so hiring managers look for candidates that are a perfect fit all around, says Jessica Henry, senior associate director of career services at the University of Chicago Booth School of Business. "Don't ever underestimate the 'additional info' section of your resume," says Henry. "Include something that's not necessarily academic, a lot of the times people want to talk about that." Favorite sports teams or unusual hobbies listed on a resume can often spark a conversation and help your resume stand out.

Set Apart Deal Experience

Whether you've worked on deal origination or oversaw a portfolio, demonstrating deal experience during your previous employment is key. Attract attention by setting apart the types of deals you worked on in a separate section at the top of your resume. More than ever hiring managers are also looking for candidates with global experience, so be sure your resume conveys any deals with heavy international exposure. When recruiters or hiring managers pick up your resume, deal experience will be the first thing they notice. "We don't have the ability to bring in somebody who doesn't know how to do a deal," says Hoffman. You can also add additional competencies to the top portion of your resume then follow with a reverse-chronological format to make the resume semi-functional and loaded with keywords for electronic screening, says Deborah James, a certified resume writer in Toledo, Ohio.

Stress Financial Modeling Experience

To pinpoint your financial modeling experience, mention the results of the analysis performed and the area where it was applied when writing bullet points for your job descriptions. Adding any advanced-level Excel work can be another helpful way to quickly demonstrate your expertise. If you're just starting out and making a switch from investment banking, Henry recommends that applicants "show any kind of deep diving into the numbers to make decisions -- [firms] don't want to train [new hires] on that piece."

Don't Exaggerate

"When a junior-level applicant [writes] that they single-handedly led a multibillion dollar transaction, that throws a big cloud of uncertainty around their application," says Hoffman. Instead, it's better to be realistic about how you helped your previous company. Additionally, many recruiters compare your resume to your LinkedIn profile to further track discrepancies, which may unknowingly take you out of the running.

Show Off Your Education

Even if you didn't get an M.B.A. from Harvard Business School, having the name of a top-tier business school on your resume can help. Consider attending an executive education program or a certificate program at a top business school that focuses on furthering your private equity career like investment management. Or if you don't have an M.B.A., taking a few years to complete the degree in a part-time or executive format (which allows you to work) can be an option. "Private equity is ultracompetitive," says John Landers, a regional vice president of the financial services group at Robert Half International, a staffing firm based in New York. "The pedigree of your education is going to be extremely important."

---

With even the largest PE firms being small in size, it's important to come across as a potential fit to each particular firm by truly understanding the demands of the open position. Take time to tailor each resume you send out. "Every firm has a different culture and what they view as requirements for candidates -- [it's up to] the candidate to do some background research," says Hoffman.

Write to Alina Dizik at editor@fins.com

Apparently it pays to be a small fish in a big pond.

Cantor Fitzgerald, a smallish investment bank that's private, still plans to hire 1,000 people in the next several years, said Chief Executive Officer Shawn Matthews, expanding the investment bank's head count from 1,600. Including its affiliates such as BGC Partners, a brokerage operation, Cantor employs 8,000 people.

A combination of having smallish clients that generate revenue of less than $1 billion, being small itself with assets below $50 billion and being private and able to invest when others must pull back puts Cantor in a sunnier position than the big investment banks. During the last downturn a decade ago, the firm struggled after it lost 658 people during 9/11 when its offices on the 105th floor of One World Trade Center were destroyed.

Cantor has hired almost half of the 200 people it said in January it would recruit in 2012 and will "probably hire more [this year] depending on what opportunities are out there," said Matthews, 45, in an interview. "Our plans are still intact. We're aggressively hiring people and continuing to forge ahead. We are clearly in full growth mode."

“

We are clearly in full growth mode

”

Cantor caters to the middle-market, or companies with annual revenue between $50 million and $1 billion, offering sales and trading capabilities on behalf of clients, commercial real estate financing, prime brokerage, and advisory and capital raising services. It competes mainly with New York-based bank Jefferies, which has been hiring aggressively and now is only making selective hires, bank officials said. Jefferies had 3,809 employees as of the second quarter 2012.

No Basel for Cantor

Matthews said Cantor can expand while big banks contract because of the "structural change in the financial landscape" that will affect other banks but not his. New regulations such as Basel III, a set of regulations among G-20 countries that will go into effect in January 2013, will force large banks, or those with at least $50 billion in assets, to set aside more capital. As a result, "they'll pull back and ultimately lay off employees," Matthews said.

Cantor doesn't have to implement Basel III regulations because it doesn't meet the $50 billion minimum for assets, according to the company.

As a private partnership, Cantor also is able to shield its financial results from view and doesn't have to report to public shareholders, enabling it to aggressively invest during down times in the industry.

European institutions may not be able to afford to be in capital markets, Matthews said, due to shrinking revenue and increasingly tough regulatory environments. "We're seeing them pull back and I think they'll continue to do that or close their capital markets operations as they get back to the core competency of being commercial banks," he said.

Growth Amid Layoffs

Royal Bank of Scotland, for example, recently announced around 600 layoffs, taking the total headcount reduction at the bank to 36,000 since it was bailed out by the U.K. government in 2008. Societe Generale is in the processing of shedding nearly 1,600 jobs in its worldwide investment banking units, while Credit Agricole is cutting 2,350 jobs in its investment bank and consumer finance divisions.

Cantor Fitzgerald is growing particularly in sales and trading and asset management. Cantor employs approximately 750 salespeople around the world. "I think I can significantly grow that number and continue to build out," Matthews said. In recent weeks it announced seven hires for its emerging markets fixed income sales and trading group from banks including Macquarie, HSBC, ABN Amro and Barclays Capital.

The firm is planning to "aggressively grow" asset management, both by hiring and buying asset management companies, Matthews said.

Recent hires have had at least 10 years experience. "Especially since there's a dislocation of the marketplace, we're typically doing seasoned hiring," Matthews said. "You can hire very talented people with excellent experience. There's not much reason to hire people who don't have experience at this point in time."

"Our biggest negative is we don't have enough time," Matthews said. "Certainly we are working as fast as we can to grow. We are clearly in a position to take advantage of what's going on. I'm not saying we need to do it by next Thursday, but we want to take advantage of a lot of opportunities. We don't see any end to them."

Write to Julie Steinberg at julie.steinberg@dowjones.com

M.B.A. students are still anxious to join the finance industry and more willing to consider jobs at boutique advisory firms and middle market investment banks, according to a new survey.

When asked what type of firm would be their top employment choice, 27% of students said large financial institutions, down from 34% last year, according to an M.B.A. hiring survey released yesterday by Training The Street, a Manhattan-based firm that prepares incoming Wall Street analysts and associates, the bottom two rungs on the Wall Street career ladder.

Nine percent of students said their top employment choice is a boutique advisory firm or middle market investment bank, up from 6% last year.

"Before, the bulge bracket was end-all, be-all. Now people are realizing you can have a very successful career in finance at a regional boutique," said Chirag Saraiya, a Chicago-based instructor at Training The Street.

Compensation Changes

Compensation changes are causing the change in perception, said Saraiya. Boutique firms are still able to pay mostly cash, while regulatory changes and cost cuts are forcing large banks to pay in restricted stock that takes time to vest.

"If you know you're going to be at the bank for three to five years, and you have a three- or four-year vesting schedule, it makes sense for you to go to a boutique," Saraiya said.

The survey polled 300 participants from the country's top 25 M.B.A. programs according to a list compiled by Bloomberg Businessweek.

Wall Street is still hiring M.B.A.s. Nearly half of students said they had been approached by large global financial institutions, the same percentage as last year. Ninety-four percent of students said they had been invited for at least one interview at finance, consulting and private equity firms, among others, up from 91% in 2011.

More Offers

The survey said 78% of respondents had received at least one offer, up from 72% last year.

More M.B.A.s are being wooed by private wealth management operations. This year, 13% of students said private wealth management firms had reached out to them, up from 9% last year.

"In the media, careers in finance have taken a bit of a hit," Saraiya said. "But we haven't seen a dip from the schools or from a corporate standpoint. At certain firms, hiring is down, but not drastically down."

The survey also found that nearly 20% of students received a job through a personal reference. "The days of signing up for an interview, having it and getting the job are over," says Saraiya. Applicants must impress recruiters they've met at the firm's information session, drinks reception and of course, during the interviews.

"Technical skills can be taught, but interpersonal skills are more innate," Saraiya said. "You want to make sure that when your name comes up, five or six people have spoken with you and remember who you are."

Write to Julie Steinberg at julie.steinberg@dowjones.com

Instability in the global markets means that investment banks and M&A advisory firms are continuing to hire during a busy time for M&A professionals. If you're eager for a mergers and acquisitions role, presenting a well-written resume can help get you past the initial gatekeepers. Take current trends into account and make sure you address them in the document: Anything from listing info on how you've dealt with corporate spinoffs or joint ventures, to work involving reverse break-up fees are sure to catch a recruiter's eye.

There are some additional points to keep in mind when searching for M&A work, say experts. For one, a standard M&A resume is two pages instead of the traditional one-page resume, to leave room for the level of detail needed for describing M&A experience, said Mary Kier, vice chairman at Cook Associates, a Chicago-based executive search and M&A advisory services firm.

Another difference is the need to include as many numbers as possible to illustrate accomplishments and avoid elaborately-worded statements, said Kier. "Someone that wants to make a better career for themselves in M&A needs to be very cognizant of what the numbers look like and the financial elements of a business."

Here are additional ways to perfect your mergers and acquisitions resume:

Stress Specialized Knowledge

While it may seem better to show knowledge across the board, Brett Good, a district president at staffing firm Robert Half International Inc. said more companies are eager to see candidates that could be an exact fit. Include specialized knowledge about the sector and industry, regulatory policies or any complex modeling experience, said Good, who works with M&A applicants. This can be especially important in differentiating yourself as a fit for some corporate development positions. In the last few years experience in foreign investment, dealing with government entities and understanding non-traditional financing have become especially relevant.

Leave Out Company Names

Be sure to convey how you've turned the turmoil in the markets into successful deals, but unless each deal is in the public domain, naming companies could mean a possible violation of a non-disclosure agreement. Instead of using official company names, Good suggested using telling details like "pet food manufacturer in excess of $100 million" to avoid a breach of confidentiality. This common mistake on a resume can cause a hiring manager to question your judgment as a potential employee, he said.

Integrate a Deal List

Kier asks the M&A applicants she works with to include a separate list of specific deals under each company heading. In addition to mentioning accomplishments for each chronologically listed position, use another indented list to explain your work on specific deals. "Show the complexity of those deals -- describe the quantitative structure, what did you do and what did that result in," she suggested. Providing these additional bullet points and including which side of the deal you focused on can help a hiring manager scan a resume quickly for applicable experience.

Wendy Enelow author of "Expert Resumes for Managers & Executives" said bullet points could read similar to the ones below and even be listed under their own section of a resume:

-- $22 million acquisition of Company A

Led financial due diligence, contract negotiations and final deal transaction for acquisition that propelled Company B into the rapidly expanding B2B logistics market in Northern Europe.

-- $40 million acquisition of Company X

Orchestrated complex 2-year due diligence for proposed acquisition. Advised Board of Directors and CEO not to proceed with transaction based on significant risk exposure and poor corporate credit rating.

Make a Short Version

While a two-page resume can be a good fit for a recruiter, consider providing an abridged version if you're simply sending an email introduction to someone within the firm, said Kier. A short bio including past deals and accomplishments can quickly provide relevant info to time-strapped managers who won't read the standard two-page resume, she said. "Deal guys have very little time and five minutes is very valuable to them," she said. "That one-page document should grab their attention or you might lose your audience."

Point Out Global Reach

"Every job seeker -- particularly folks involved in M&A transactions -- should highlight their experience working, traveling and studying abroad, and their foreign language skills," said Enelow. Conveying international experience is always important because so many transactions have a global reach even if there's little physical travel involved.

Avoid the Summary

Even as some career experts tout summaries or objectives, most M&A recruiters said it's better left off this type of resume. Especially if you have deep experience, use the extra space to delve into the results from specific deals or flaunt your quantitative knowledge when explaining accomplishments. Since most summaries are simply an easy way to get important keywords to the top of the resume, be sure to still include industry terms throughout. (As a quick guide, use the keywords most often listed in the job descriptions you're applying for when writing about your work.)

Skip Subjective Descriptions

Mentioning qualities like "self-motivated" or "articulate" can actually come off sounding too subjective and cause your resume to be passed over, said Steven Provenzano, Chicago-based author of "Top Secret Executive Resumes." Subjective language isn't helpful because a hiring manager already expects these qualities from someone who's been successful in previous M&A roles: "It's obvious that it's fluff material and you can't prove it false," he said. As you list information about each of your previous roles, use verifiable facts instead of opinion-based details to demonstrate high performance, he suggested.

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As you write your resume, pay attention to which skills you emphasize. Tout the skills that are truly appropriate for an M&A position instead of simply conveying your business skills, said Tim White, a partner at Kaye/Bassman International Corp., a Plano, Texas-based executive search firm. "Orient everything on your resume so that it relates [to the role]," he says. And of course, skipping basics like spell-check, not using appropriate financial terms and presenting a cluttered format can also keep you out of the running.

Write to Alina Dizik at editor@fins.com

Bob Diamond and Rich Ricci may not live up to their names at Barclays this year.

Chief Executive Diamond and corporate and investment banking head Ricci have decided not to take a bonus for this year. The decision comes as a result of a somewhat embarrassing investigation that found Barclays employees were submitting false London and euro interbank offered rates. Employees also tried to influence other banks' submissions.

The bank was fined $450 million by the Financial Services Authority in the U.K. and the Commodity Futures Trading Commission and Department of Justice in the U.S.

In addition to Diamond and Ricci, Chief Operating Officer Jerry del Missier and Group Finance Director Chris Lucas will decline a bonus for this year.

Employees shouldn't expect bigger bonuses just because their bosses aren't taking anything out of the pool, however. It may just offset some of those fines.

Cantor Hiring (FINS)

Here's one bright spot amid the dark cloud that is the current finance industry. Cantor Fitzgerald plans to hire 1,000 people over the next several years. Talk about an upgrade.

Layoffs in Florida (Miami Today)

Bank of America will hand 130 employees pink slips in Hialeah, a city in South Florida.

Apology Needed (WSJ)

Nomura Chief Executive Kenichi Watanabe apologized for trouble caused by the probe into his firm's insider trading activity. Shareholders didn't seem to mind, as they re-elected him to his office.

Research Hiring (BusinessWire via MarketWatch)

If you're a research whiz, you may want to consider a job outside the financial sector. Bloomberg LP is hiring research analysts for a new product.

A Picture's Worth (Business Insider)

Look at the red line to see the profit per employee in financial services. Then look at the blue to see every other industry. Pretty astonishing.

Finding Each Other (FINS)

M.B.A. students and Wall Street firms are still running toward each other with open arms. And now boutique advisory firms want to share the love.

Gender Issues (Here is the City)

New research finds that women struggle to fit in and be respected at hedge funds no matter their experience, not just when they arrive as newbies.

Work Events (Dealbreaker)

If you're a senior banker at Barclays and are not otherwise busy fixing LIBOR rates, you best show up to a farewell event with analysts or else you're gonna hear about it from this guy.

Buzz Around the Office

A Tip of the CAP (The Hindu)

Office drones and keyboard jockeys can make their virtual voice heard on Thursday by celebrating INTERNATIONAL CAPS LOCK DAY, a biannual holiday that began in 2000.

List of the Day: Get the Salary You Deserve

Silence is the key to getting the figure you're aiming for.

1. When HR names a number, say "Hmm." Be quiet and they may up the offer.

2. Know the industry standard so you can counteroffer effectively.

3. Use "we" language. You've been offered the job, so you already have leverage.

(Source: MoneyWatch)

J.P. Morgan has added at least five new employees over the past month to the risk department in its Chief Investment Office, the unit responsible for trading losses that may have climbed to $9 billion, according to people familiar with the matter.

The bank is expanding the risk unit as it responds to the trading debacle and rebuilds the CIO, said one person familiar with the bank's thinking.

FINS first reported a realignment of the risk unit in May, when the CIO's chief risk officer, Irvin Goldman, was replaced by Chetan Bhargiri, a former managing director of market risk at the investment bank. Goldman has been retained as an adviser to the bank.

Since his appointment, Bhargiri has begun to assemble a new team. The latest additions are transfers from units elsewhere in the bank. J.P. Morgan wouldn't make either Bhargiri or his new staff available to comment. The latest appointments include:

Ameeta Gosain, managing director, reporting to Bhargiri and based in New York. Reporting to Gosain is Lloyd Senior, a vice president based in New York.

Meg Teep, executive director, reporting to Bhargiri.

Jonathan Aaron, vice president, reporting to Peter Weiland, a managing director who reports to Bhargiri. According to Aaron's LinkedIn profile, he has worked at J.P. Morgan since 2005 and attended the State University of New York at Albany. His current title says he works in tax-exempt derivatives sales. He is based in New York.

Also reporting to Weiland is Rodrigo Lamas, an executive director. According to Lamas' LinkedIn profile, he has worked at J.P. Morgan since 2006 and was head of market risk, global energy from that time until June 2011. He has a Ph.D in computational finance from Imperial College London. He is based in London.

Write to Julie Steinberg at julie.steinberg@dowjones.com

While the insurance industry has not been able to avoid the fallout from the financial crisis, recruiters are focusing on areas of finance like securities and mutual funds to staff some of the newest opportunities. With traditional insurance carriers focusing more on financial products in the last few years, a resume that details modeling and analytics experience can be your best bet. But beware: with much of the hiring still in slow motion hiring managers can afford to be picky. Many HR managers have expanded their requirements for both underwriters and business analysts, demanding additional business development and financial modeling experience.

Start by editing your resume to make sure every bullet point somehow promotes your skills or accomplishments. Don't fall into the trap of describing your job responsibilities, warns Steve Waterman, managing director at Nexus Recruiting Group, a search firm that works with Wells Fargo Insurance Services and Zurich, based in Portland, Oregon. "Every insurance recruiter -- and all of our clients -- know what a typical [underwriter] does," he says, adding that listing points that show how you've excelled at your job is a better way to get attention.

Here are other ways to build an impressive insurance resume:

Use Numbers

"The biggest problem we see with insurance resumes specifically is lack of enough numbers," says Waterman. "Since insurance is so much about numbers, candidates have a tailor-made chance to include as many pertinent numbers as possible on their resumes: numbers of premiums, revenues, loss ratios, number of clients, growth of book of business, etc." For example, including a bullet point that says: "built a book of business consisting of 72 middle market clients bringing in $674,000 in revenue" is an impressive detail on your resume, he says.

Skip an 'Accomplishments' Section

While presenting a bullet point list of accomplishments can get the hiring manager's attention – it's often followed by confusion. Weaving each accomplishment into a chronological history gives hiring managers a clearer picture of how you'd fit in to the firm, says Todd Mitchell, founder of executive search firm Todd Mitchell Associates in New Hyde Park, N.Y. "If you look at a resume that is very broad-brushed in the beginning, it doesn't let us target the individual roles that they've had experience in," says Mitchell, who works with insurers like Liberty Mutual. For example, providing a detail about how you assessed risk during your previous underwriter position is more valuable then simply saying you have risk-management skills.

Clear up Confusing Job Titles

Though companies may create their own job title for your role, it's important that you include the most commonly accepted title on your resume. "At some companies, account executives need to be total sales-hunter types, while some [account executives] manage blocks of business and do some occasional selling, while others exclusively manage important accounts and wouldn't attempt selling anything to anybody," Waterman says. While it's helpful to list official titles, make sure it's not just company jargon.

Be Honest About Employment History

With so many changes in the industry during the last few years, recruiters are seeing resumes that camouflage recent employment gaps or fudge hiring dates. Be honest about dates -- they are verifiable and can quickly take you out of the running or damage valuable recruiter relationships. "Everyone is aware of the market conditions over the last 18 months and that, as a result, talented people lost their jobs," says Michele Briggs-Meskill, vice president of human resources at AXA Equitable Life Insurance Company in New York. If you've been out of work for more than a year, Briggs recommends including teaching experience or additional certifications to showcase "continuous work experience."

Show Off Quantitative Skills

"As the industry continues to develop new products while also hedging against risk, we require candidates with experience and skills in financial modeling and analysis," says AXA's Briggs-Meskill. Use the experience portion of your resume to cite specific achievements or point out projects where you've been able to gain financial modeling insight. If you've recently taken a related certification course, make sure you write out the name on the resume – sometimes even commonly used acronyms can be confusing.

Highlight Business Development Experience

"Our clients over the last year and a half have been much more interested than ever before in hiring people who have good ideas about bringing in new business revenue," says Waterman. "Therefore, we've advised some candidates to include as much info as possible about their past and current business development efforts, even if they're not a salesperson, per se." Even if it's not completely related to the insurance industry, use the experience area of your resume to provide information about how you influenced growth at your previous employer.

Demonstrate Long-Term Thinking

While it may be tough to convey in a resume, employers want to know that you're always thinking strategically and "have the ability to see beyond the here and now," says Scott White, a State Farm human resources recruiter in Bloomington, Ill. Describe achievements or projects that started with an uncertain outcome or demonstrated a long-term commitment. Even one example can peak a recruiter's interest. White adds that "skills related to navigating through and interpreting all the regulatory practices and changes are a plus."

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As you re-evaluate your resume, make sure your experience can be clearly understood by potential employers and prepare the information in a standard chronological format. With the industry as a whole comprising 2.2 million jobs according to the Bureau of Labor Statistics, there are a wide variety of opportunities. Hiring managers who glance at your resume must be able to quickly discern where your skills can fit in. If your experience isn't entirely in insurance, don't get discouraged. State Farm's White recommends identifying crossover skills like leadership experience or risk management and highlighting them on the resume. "Even though a candidate may not have specific experience, there may be peripheral experiences where the same skill sets were put into play that are needed by the inquiring employer," he says.

Write to Alina Dizik at editor@fins.com

Demand has shifted within the mortgage industry – these days, refinancing gurus have fallen from grace and companies are eager for hires that possess more traditional management skills. When it comes to resumes, hiring managers are paying more attention to leadership experience and the project-management qualifications of potential employees. With mortgage rates expected to stay low throughout this year there's also a need for qualified professionals in areas like distressed mortgage and within the financial corporations that are continuing to be affected by regulatory changes, say experts.

When preparing your resume, take the industry shifts into account and make sure your resume speaks to the newly cautious industry outlook. "You really want to come across as kind of a worrier and [show that] not everything is going to be wonderful and rosy down the road," says Leanne Lachman, an executive-in-residence at the Paul Milstein Center for Real Estate at Columbia University, who adds that employers are now looking for mortgage professionals that understand risk management no matter what their role is in the organization.

Here are additional ways to perfect your mortgage resume:

Use Reverse-Chronological Format

It seems like obvious advice, but it is especially important with a mortgage resume today. A resume that does not follow a reverse-chronological format can be seen as a way to avoid disclosing past experience in an industry that's known for high turnover. With so many candidates vying for each open position, keep the standard format, says Tom Geraci, a Chicago-based executive recruiter, who sees more than 300 resumes each day. "If your resume is one lump of data, it would be hard to dissect what separates you from the pack," he says. "We as recruiters like to see an easy-to-follow chronological resume."

Highlight Position-Specific Skills

Since there are so many different positions in the mortgage industry it's important to hone in on exactly what it is you're best at instead of casting too wide a net, says Alesia Benedict, CEO of Getinterviews.com. For example, list sales and specific loan origination achievements if you're looking for a mortgage broker position. Or include areas of expertise like quality control and risk management, which are in demand for mortgage bankers, according to a spokesperson for PennyMac, a California-based mortgage firm. Specific terms can also help when resumes are being scanned electronically for keywords. To get your resume to the top of the pile, include keywords from similar job postings. For instance, when applying for a loan officer position, listing your Certified Mortgage Banker designation may help your resume get noticed.

Demonstrate Career Progression

If you've moved up through the ranks, it's essential to convey this in your resume. Be sure to include all of your roles under the company heading—especially if you've gone from loan officer to vice president in your four years at the firm. Additionally, when describing your roles, list accomplishments rather than pure descriptions, says Benedict.

Provide Telling Details

It's easy to get caught up in generic statements when talking about your previous roles. Instead, spend time thinking of short but to-the-point explanations that can help set you apart from the competition. "When we are looking to hire mortgage loan officers, we want to know what a potential employee's responsibility is for building a file -- what your day-to-day activities are," says Geraci. "In mortgage recruiting, we want to know more than 'you build relationships in the market.'"

Find Transferable Skills

If you're looking to switch into the mortgage industry, creating a resume that highlights important transferable skills is key, says Geraci. He looks for consumer credit or sales experience when recruiting employees to the mortgage division of a bank.

Convey Knowledge About Risk

After the financial crisis, many firms want to know that potential employees have learned their lesson. "If you were working for a developer, it's going to be hard to convince people that you are cautious enough. Or that you didn't have too-optimistic assumptions if you were an acquisitions person," says Lachman. Use bullet points to demonstrate how you've incorporated risk management strategies into your previous positions. Or if you've attended recent training sessions that discuss risk management and the importance of underlying assumptions, be sure to add it under the education section of your resume.

Rewrite Often

There's not one perfect resume that can help you apply to every mortgage job. Instead, better your chances by tailoring your resume to specific opportunities like broker or underwriter opportunities. "There is not one resume for every career discipline within the mortgage industry," says Timothy Howard, president of Howard Masters Group, a Tustin, Calif. recruiting firm for the mortgage banking industry. Look to highlight specific experiences that reference requirements listed in each job description. Loan officers may want to stress stellar communications skills, while mortgage bankers should point out their quantitative skills.

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Mid-market mortgage firms are doing a lot of the hiring these days and are eager to take advantage of the industry's recent restructuring. Use your resume to show that you understand how these companies can stay relevant and emerge as key industry players. Keep in mind that while your resume can only help you at the beginning of your search, it's essential to take the time to come up with one that stands out.

Write to Alina Dizik at editor@fins.com

Low mortgage rates: Good for people who want to refinance, even better for jobseekers who want to handle the transactions.

As a result of increased client demand, companies are expanding their mortgage banking, operations and underwriting departments. Detroit-based Quicken Loans Inc., the country's largest online home lender and fourth largest retail mortgage lender, will hire 200 people for its Scottsdale, Ariz. center. The center currently has 400 employees.

Quicken wants to hire mortgage bankers, loan processors, closers and underwriters. The Scottsdale center's loan volume has more than doubled in 2012 from the same period last year.

Arizona isn't the only state to benefit. The Federal Savings Bank, a Kansas-based home lender, is opening an office in Chicago that will create 400 jobs over the next three years. The company will hire lenders, underwriters, loan processors, accountants and loan closers, and wants to bring on veterans especially.

Adding Layers (FINS)

As a way to address the fallout from April's trading losses, J.P. Morgan has expanded its risk management unit in the group responsible for all the fracas.

Under Pressure (WSJ)

It's not a good week for Bob Diamond. The Barclays chief executive is coming under heavy fire for this week's admissions of fixing LIBOR rates. Some expect him to step down.

Pay Recommendations (eFinancialCareers)

The European Securities and Markets Authority recommends that hedge fund and private equity employees should only get bonuses in "exceptional circumstances." Emerging markets increasingly seem to be the only countries without rigid pay rules.

New Roles (Financial News)

Andrea Sambo, UBS' global head of fixed income, currencies and commodities, has wasted no time assembling a new team.

Don't Fool the Dealer (Mergers & Inquisitions)

If you want to break into institutional dealing, you'll need to hone your precision skills. You'll be handling big blocks of trades for clients.

Big Spender (Bloomberg)

If you are $113 million behind in personal taxes, the only natural thing to do is start renovations on a mansion and fly everywhere on a personal jet. Just ask Phil Falcone.

Death at a Funeral (Bloomberg)

The world's oldest billionaire has died at 101. Walter Haefner made his money importing cars to Switzerland.

Buzz Around the Office

Secretary of Out-of-State (Associated Press)

No one can ever call Hillary Clinton a homebody. The former first lady recently broke the all-time record for countries visited by a secretary of state, surpassing previous record-holder Madeleine Albright. Clinton has now touched down in 100 different countries.

List of the Day: Be Assertive

You'll only get ahead in your career if you ask for what you want.

1. Make it a goal to speak in every meeting.

2. Practice saying no.

3. Balance your aggressive and passive-aggressive statements.

(Source: Forbes)

Being the boss who sends employees packing isn't ever easy, but lots of people in this economy are willing to fire folks--depending on who is on the firing line.

In FINS' informal online survey Sign or Decline, 76% of readers said they'd take their dream job if their first task was to fire their direct report, and 72% said they'd take the job if they had to do all of the firing in the office.

Things changed, however, when the firing became personal. If the job required firing their best friend, only 36% said they'd take the job while 38% said they take the job if they had to fire their mother and 21% said they would sign on if they had to fire their father. Apparently, it's a whole lot easier to fire your mom than your dad or best friend. And it's relatively easy to fire people you hardly know.

The phenomenon of "cognitive dissonance," the tension people try to avoid when what they have to do conflicts with what they believe is right, is exacerbated when the target is someone they are attached to, said Steve Nguyen, a workplace psychologist. "There are a number of experiments that show that people are generally willing to punish strangers but reluctant to do so as familiarity increases," said William Becker, an assistant professor of management at Texas Christian University's Neeley School of Business.

"They often prefer to take the punishment themselves if a family member is involved," Becker said. According to a study conducted by Southern Illinois University in 2008, the more time you've spent with an employee you have to fire, the greater the likelihood you'll experience a higher level of cognitive dissonance over having to terminate them.

Ron Katz, president of Penguin HR Consulting, once had to fire a longtime colleague with whom he regularly ate lunch. "I've managed downsizings of literally hundreds of staff," Katz said. "Why was this one more difficult? I knew most of the people I exited, at least peripherally, but I knew this man's life story, his history and what it would mean to him even more."

"It was harder to dissociate myself from my feelings. I also knew what it would be like for someone over sixty to get another job," Katz said. "He had been with the firm for over 25 years and prided himself on being their employee."

If you do have to tackle a friend-firing, experts suggest a few strategies for managing the situation's biggest difficulties.

Make Sure it's Necessary

If you're the one making the hiring and firing decisions, make sure you do your due diligence as a manager before making the decision.

"Make sure you have done everything by the book," said Diane Gottsman, an etiquette expert and owner of the Protocol School of Texas, which specializes in career issues. "Have you given your friend an opportunity to correct mistakes, or discuss issues that he or she is being terminated for?"

It's important to have documented evidence of performance problems as well as evidence that they failed to improve. That shows that the issue is professional. While it might not make the termination easier on either of you, or on your relationship, it may make it easier for you to remain friends after some time has passed.

Don't Dawdle

"We encourage decision makers who have to fire a friend to do it as quickly as possible," said Richard S. Deems, author of "How to Fire Your Friends." "Otherwise it wears on you, and the person who is to be terminated will notice the differences in how you've been reacting and wonder why." You also want to keep your friend from finding out through some other channel -- preferably not the rumor mill -- and help them get back into the job-search game as quickly possible.

Set up a specific time to meet. "We often suggest notifying the person early in the week and early in the day," Deems said. "Friday firings are for wimps." The first weekend after a job loss has been shown to be the hardest, Deems said, so taking care of business early in the week could help soften the blow to your friend's self-esteem.

Be Direct

When you do the deed, don't beat around the bush, Deems said. "Shut the door, no chitchat, just a simple statement: 'Francis, we're going through cost-cutting measures as you're aware, and as difficult as this is for me, our meeting today is to inform you that your employment with ABC Corp. is ended as of today.'" Keep it professional and confidential.

While it might be tempting to say you're just the bearer of bad news, the reality is you need to shoulder the responsibility you've been given by your company. "Don't give excuses or apologies for having to do your job," said Gottsman. "Don't throw anyone else directly under the bus. If you are charged with the task of firing your friend, but there are several other decision makers involved, you can relay that fact without saying 'If it were up to me, I wouldn't be doing this but John and Sara are adamant that they want to get rid of you.'"

Focus on the Business

Keeping yourself focused on the business can help you recognize you're making the right decision. Letting poor performers remain on the team typically has a damaging impact on the overall business. "Managers frequently do not fire the people they are close to even when that person is not performing well," Becker said. "When cuts must be made, managers will most often fire members of out-groups who they do not feel empathetic for."

Susan Steinbrecher, an executive coach and leadership consultant, had to fire her sister years ago when she wasn't growing along with Steinbrecher's growing business. To cushion the blow, Steinbrecher said she'd allow her sister to set her own exit date. The result? Her sister said she wished to stay on for three more years. "It wasn't the smartest business decision," Steinbrecher said in retrospect, but it did help the two preserve their relationship.

Offer Help if You Can

If there is job-search assistance, a severance package, a continuance of health insurance or the chance to apply for other vacant positions within the organization, this is the time to tell them what's available, and provide them with the steps to access it.

If it's in good taste, you can also offer them a letter of recommendation, Gottsman said. "Perhaps your friend is being terminated due to the economy or downsizing, and a letter would be a gesture of goodwill," she said. This won't work for those being fired for poor performance.

Don't Expect Too Much

While it's easy to say that you will have a black-and-white policy about not hiring or working with friends or family members, over time you will likely form personal relationships with professional colleagues. And if you get promoted above those people, you will at some point have to evaluate their performance and could end up having to let them go.

If you do end up having to fire them, experts say you should go in with your eyes wide open, aware that it will more likely than not have a negative impact on your relationship. "In time your friendship may get stronger, but don't assume your friendship will not be affected by the termination," said Gottsman. Deems said he's seen post-firing friendships go both ways. "It takes work from both persons to make it work," he said.

What Would You Do?

Answer the question and see how you match up with the rest of the FINS community.

You've just been offered your dream job, but... you have to fire your best friend on the first day.

Sign...or...Decline

Write to Kelly Eggers at kelly.eggers@dowjones.com

Sign or Decline is a series of questions on FINS.com that ask what you would do for your dream job. Since its launch, over 100,000 answers have been received and compiled in our database. Participate in Sign or Decline here.

Regulators have stepped up scrutiny of J.P. Morgan's internal controls by asking the bank to demonstrate that its risk models are designed and working properly, according to people close to the situation.

The Office of the Comptroller of the Currency, the bank's primary regulator, has requested reviews of models that measure the possible effects of everything from trading losses to interest-rate shifts, the people said. A change in one of these models contributed to losses in the bank's Chief Investment Office, a once-obscure unit that manages $370 billion in excess cash. The change effectively increased the amount of risk traders were allowed to take.

J.P. Morgan's CIO unit was responsible for trading losses of more than $2 billion. Total losses from the problematic positions are expected to be around $5 billion, but could go higher or lower. The bank, which is already out of the majority of the bad trades, is expected to provide an update on the losses when it reports second-quarter earnings on July 13.

The OCC has since April of last year required all banks it regulates to put together reviews and justifications of these types of models. It doesn't require banks to submit them unless they are specifically requested, as they have been in the case of J.P. Morgan. An OCC spokesman said the agency "routinely asks for additional documentation in the course of ongoing supervision at the banks it oversees."

The OCC demand underscores the heightened scrutiny J.P. Morgan now faces from a number of overseers as it tries to recover from mistakes that have stained the reputation of Chief Executive James Dimon. The bank is currently producing documents for eight agencies conducting probes into the losses.

A bank spokesman said the company has already acknowledged the multiple requests from regulators. "There is a lot of scrutiny and that's appropriate," he said. "We are cooperating fully."

The OCC is aiming to make sure that J.P. Morgan's reporting is "robust enough that we can actually see what's going on in the institution," said Thomas Curry, Comptroller of the Currency, in an interview. "That appears to have been an area of potential weakness."

The OCC can order a bank to retire a model if it is deemed ineffective. If a bank fails to manage its model risk in accordance with the OCC "bulletin," or written instructions, it could trigger enforcement action.

Financial crises "tend to result in an abrupt shift and tightening of regulatory scrutiny," says Cliff Rossi, a finance professor at the University of Maryland Robert H. Smith School of Business. "The OCC is getting a lot of grief from Congress. Their natural response is, 'we will comb through every model you have and you will give a complete validation of this.'"

Banks have long had sophisticated systems to predict how much risk is being taken in various businesses. Models are used to determine everything from potential trading and loan losses to what underwriting guidelines should be for credit card borrowers.

Scrutinizing all of those models is "a daunting task," for the regulators, said Mr. Rossi. "It's a tall order."

One J.P. Morgan model under scrutiny is a measure known as "Value at Risk", which provides an estimate of how much could be lost on average in a single trading day. The firm pioneered this model in the early 1990s.

A change in that model for the Chief Investment Office masked the risk the group took in the early part of 2012. It was approved by an internal model-review group composed of 50 to 70 quantitative researchers and modelers. Mr. Dimon didn't need to sign off on the change, but he was copied on an email describing the new model, said a person close to the bank.

Mr. Dimon acknowledged this month to the Senate Banking Committee that the change in the model "did effectively increase the amount of risk that this unit was able to take."

The U.S. Securities and Exchange Commission is exploring whether the bank misled investors when it didn't disclose that change in its April earnings release. Companies aren't required to disclose such changes, SEC Chairman Mary Schapiro said last week, but the agency's rules do require companies to "speak truthfully and completely."

If you're an experienced financial adviser, an attention-grabbing resume can be what gets you through the door. And while you still need a stellar book of business to actually get that offer letter, a well-written resume will leave a lasting first impression.

Use your resume to address common industry problems right off the bat. For one, show how you've successfully dealt with retirement readiness for baby boomer clients or how you've marketed your services to investment-weary millennials. Make sure your resume also offers a glimpse of your personality by listing nonwork related interests and activities; financial advisers need to demonstrate that they are a strong fit within the company culture.

Eager to land a new financial adviser role? Here's how to put together an impressive resume:

Write a Game-Plan Summary

In your resume, "the first thing to do is define what you're doing to generate revenue," says Tim White, a managing partner at Dallas-based executive search firm Kaye/Bassman who works with financial advisers. In addition to presenting a quick overview of recent accomplishments and what you'll bring to the table, be sure to include numbers detailing revenue production and how many assets you have under management, explains White. Including a summary paragraph can help you present key facts and ideas right away in order to get the hiring manager's attention.

Specify Extracurricular Activities

In addition to your skill set, hiring managers also want to see hints of your personality, how you can fit into the culture of an organization and how that might impact your ability to attract new clients and maintain ties with current clients. Include any volunteer or pro-bono work, interesting projects or industry associations. Since relationship-building is a large part of the job, presenting yourself outside of work can be a good way to show that you're well-rounded, trustworthy and can connect with people. Demonstrate "deep ties to [your] local community," says David Satler, head of HR and Education for UBS Wealth Management Americas based in New York.

Explain Degree of Experience

Depending on the type of accounts you've handled, exposure to different areas of financial planning is common. Brett Ellen, president of the American Financial Network, a Calabasas, Calif.-based financial planning firm, says job seekers need to go beyond mentioning their areas of expertise by specifying the degree of experience for each one. "It is very different to have sat in a meeting and heard a presentation about deferred compensation [than to] really know how it works and how it is used in various scenarios to benefit the client," Ellen explains.

Emphasize Long-Term Relationships

Use your previous roles to show how you've been able to create meaningful relationships on the job. "Give real examples of a client relationship: how often do you meet, how do you interact, what have been your clients expectations, what could you do differently to enhance a client relationship," says Ellen. Since a large part of financial advising requires you to keep up long-standing relationships, it's important to convey that in your resume.

Don't Overstate Your Role

While presenting experience in a good light is key, there's no need to add on extra accomplishments. Instead, be honest and don't overstate your previous experience. "If someone supported an adviser and didn't contribute to the real planning or strategy development for the client--that is a very different role," says Ellen.

Highlight Certifications

Make sure to include the most common certifications for financial advisers like the Finra and specific insurance licenses. Obviously, if you have a CFP, CFA or CPA or are on your way to getting one, this needs to be mentioned at the top of the resume. "Firms will look first for the Series 7 license and the date it was earned," says Liz Farrar, a partner at Vousden Associates, a financial adviser recruiting firm in New York. "They will then slot the financial adviser into an experience peer group to evaluate their success to date." In addition to mentioning some of the certifications in the summary, it can be a good idea to include a more detailed history in a separate section at the end of the resume.

Demonstrate Sales Accomplishments

In addition to the metrics provided in the summary, use specific bullet points to highlight sales capabilities and techniques used to exceed sales goals in your previous positions. Go into detail about how you've sold specific financial plans and include numbers when explaining those accomplishments. In addition to listing in your book of sales, mentioning your trailing 12 months production measure (the total amount of sales you've had over the past year) in your resume summary can be useful.

Think Positively

As you edit your resume, hiring experts also point out that while it's important to be honest, it may be too early in the application process to expand on a role you were fired from or only held for a few months. Since sales and output metrics are a large part of how financial advisers get critiqued for their job, turnover for these specific positions tends to be high and leaving a position after a few months isn't uncommon. "Leave off anything that would be construed as negative such as the reason you left one firm for another," suggests White.

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While a book of business is going to be the most important part of an application, your FA resume can make a difference in your candidacy. And that goes both ways. A mistake-free resume that tells employers about your extracurricular activities and demonstrates how you can grow business can be a huge help; if it fails to do these things or dwells too much on the negative, it can hurt.

Write to Alina Dizik at editor@fins.com