Raymond James builds talent pipeline with new University of Memphis partnership

Oct. 14, 2020 — Financial services firm Raymond James has executed an agreement with University of Memphis’ UMRF Ventures to employ and train students to manage roughly half of the national firm’s Identity and Access Management (IAM) operations, effective October 1, 2020. 

Raymond James’ access management workload is now comprehensively covered by two work centers: one that is internally staffed with Raymond James associates, and another that is externally staffed by managed services partner UMRF Ventures. A multi-year contract now employs more than one dozen students and a recently promoted, full-time supervisor to handle about half of Raymond James’ enterprise access management workload.

“We see this as not only a better alignment in our service hours and service-first culture, but also as a direct pipeline for future IAM talent at Raymond James,” said Andy Zolper, senior vice president and chief IT security officer for Raymond James. “Our partnership with UMRF will be a new dimension to our firm’s long-standing commitment to the Memphis community.” 

Since its founding in 2017, UMRF Ventures has cumulatively employed more than 450 University of Memphis students for at least one semester, totaling over $5.5 million in wages to date. Call center operations are conveniently located on campus or accommodate remote working during COVID-19, providing $15/hour part-time jobs scheduled around their classroom commitments. UMRF Ventures’ services include telephone sales support, donor solicitation services, voice support services, and over-the-phone IT support.

“With over 200 students currently on the payroll, and now at least one dozen more due to Raymond James’ investment, it has been gratifying to see the mission play out,” said Thomas Kadien, board chairman of UMRF Ventures. “Raymond James can maintain high service levels and keep costs low while creating a pipeline of career opportunities for students right here in Memphis. It’s an economic opportunity we do not take lightly.”

New student hires for Raymond James’ partnership are currently undergoing Identity and Access Management (IAM) training.

“This new venture comes at a perfect time,” said Pierre Landaiche, CEO of UMRF Ventures. “We have added eager students to our payroll who will be focused solely on Raymond James and trained specifically to handle their contract. Creating committed partnerships between the University and companies is a priority for us and the University of Memphis as a whole.” 

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,200 financial advisors. Total client assets are $945 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.

About UMRF Ventures

UMRF Ventures is the next evolution in partnership opportunities with the University of Memphis. Leveraging the rich tradition of innovation at the UofM, UMRF Ventures is forging a new path that brings together the benefits of the private sector and the strength of a world-class research institution to create a new resource for the city. UMRF Ventures is preparing the Mid-South for a technology-driven future by creating critical pipelines for professional development to Memphis’ most in-demand corporations. Through advanced collaborations, workforce development, and research opportunities, UMRF Ventures is building the future of Memphis. For more information, visit umrfventures.com.