GRADUAN 2014 - Careers In Finance

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CAREERS IN FINANCE The finance industry consistently tops the list as one of the most popular with young graduates. With its promise of exciting career opportunities, larger paycheques, generous bonuses and global career paths, it isn’t hard to see why! GRADUANŽ narrows our focus and applies the same informative and insightful approach in this dedicated guide about careers in finance, zooming in on the accounting, capital markets, banking and risk management sectors. Make this your invaluable guide as you traverse the exciting world of finance.

BEST JOBS IN THE ACCOUNTING, BANKING, FINANCE AND CAPITAL MARKET INDUSTRIES CURRENT ISSUES

CONTENTS C CO CON ON ONT NT NTE TE TEN EN NT NTS TS S

ISLAMIC FINANCE IN MALAYSIA 10 By spearheading the development of a global +UNCOKE ƂPCPEKCN U[UVGO /CNC[UKC KU CV VJG HQTG as Southeast Asia’s most progressive Islamic commerce hub. MONEY TRAIN 12 .KHG KP VJG ƂPCPEKCN UGTXKEGU UGEVQT URGNNU DKI bucks and great opportunities but expect to put in long hours too. SHE’S ON TOP! 14 /CP[ OC[ CUUWOG VJCV VJG ƂPCPEG KPFWUVT[ is a tough world for the fairer sex. So we got two women to tell us what it’s really like. The

XGTFKEV! /CNG QT HGOCNG [QW ECP VJTKXG CPF IQ right to the highest rank! STAYING TALENTED 18 #U /CNC[UKC UVTKFGU VQYCTFU KVU IQCN VQ DGEQOG C JKIJ KPEQOG GEQPQO[ KV YKNN JCXG VQ address a pressing present issue – brain drain of its highly skilled professionals. GRADUAN® takes a look at the situation. PEOPLE POWER 21 Got a great idea? Need some cash? Forget a bank; try chatting up some investors or backers on crowdfunding platforms instead.

TAKING IT FROM THE TOP INVESTING FOR MALAYSIA AND MALAYSIANS 26 EPF represents more than just mandatory monthly deductions of your take-home salary. &CVWM 5JCJTKN 4KF\WCP %'1 QH VJG 'ORNQ[GGU 2TQXKFGPV (WPF VCNMU CDQWV VJG KORQTVCPV TQNG the organisation plays in nation-building and RTQXKFKPI HQT VJG HWVWTG QH /CNC[UKCPU GOING ALL THE WAY 30 Zalman Ismail’s pathway to success is one RCXGF YKVJ JCTF YQTM ITKV CPF FGFKECVKQP CPF the willingness to take on the challenges that came his way. ACHIEVEVING THE IMPOSSIBLE 32 &CVQo /QJCOGF *CUUCP -COKN UC[U JG DGECOG QPG QH VJG ƂTUV VQ SWCNKH[ CU CP CEVWCT[ CPF TQUG VQ VJG RQUKVKQP QH )TQWR /CPCIKPI &KTGEVQT QH 5[CTKMCV 6CMCHWN /CNC[UKC $GTJCF

6CMCHWN /CNC[UKC VJTQWIJ JCTF YQTM HQEWU CPF perseverance. THE GLOBAL BANKER 36 %KVKDCPM /CNC[UKC %'1 5CPLGGX 0CPCXCVK JCU

worked around the world in some of the best DCPMU *G VGNNU [QWPI ITCFWCVGU VQ GODTCEG the learning experience as they journey through their career. FOCUSED ON SUCCESS 42 4CLC 6GJ /CKOWPCJoU ECTGGT RCVJ VQ VJG pinnacle of the corporate world speaks of KPXGPVKXGPGUU ETGCVKXKV[ CPF QDXKQWU VGPCEKV[ VQ GZEGN TGICTFNGUU QH VJG OWNVKVWFG QH roadblocks. Steve de Souza learns of the story DGJKPF VJG /CPCIKPI &KTGEVQT CPF %'1 QH *QPI .GQPI +UNCOKE $CPMoU LQWTPG[ VQ VJG VQR THE BANKER 46 Dato’ Sri Zukri Samat has taken banking to a whole new level. GRADUAN® speaks to him about the secret of his success. THE DELICATE BALANCING ACT 50 6JG #UUWTCPEG .GCFGT QH 2Y% /CNC[UKC CU YGNN CU OQVJGT VQ VTKRNGVU 2CWNKPG *Q RTQXGU VJCV KV is possible to have it all.

CAREER OPPORTUNITIES ACCOUNTING

57

BY ALL ACCOUNTS 58 #EEQWPVCPVU CTG QHVGP RCKPVGF CU UVQKE left-brained geniuses who only know how to crunch numbers. Not so in the vibrant and GZEKVKPI Ć‚PCPEKCN YQTNF YJGTG VJG UM[ KU VJG limit. ACCOUNTING: CAREER FEATURES BANKING

62 69

BANKERS’ MARKET 70 The banking industry is vibrant and full of possibilities. We highlight some of the top jobs available. BANKING: CAREER FEATURES

80

CAPITAL MARKET

85

BIG ON CAPITAL /GPVKQP ECRKVCN OCTMGVU CPF XKUKQPU QH JKIJ RC[KPI CPF JKIJ Ćƒ[KPI LQDU CTG PQV

86

WPEQOOQP 9JCV GZCEVN[ KU KPXQNXGF CPF FQ you have what it takes to stake a claim in this NWETCVKXG Ć‚GNF! CAPITAL MARKET: CAREER FEATURES 90 RISK MANAGEMENT

THE ASSURANCE OF INSURANCE 96 People usually think of insurance agents when you mention the industry but there’s actually more to this vibrant market segment. RISK MANAGEMENT: CAREER FEATURES 100 SHARED SERVICES

SHARED SERVICES: CAREER FEATURES 110

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Managing Director Pn Elia Talib

Graphic Team Fazrul Reza -JCKTWN *CUDWNNCJ #TEJGG /QQPI Rea Lam ,CURGT ;QPI

Editors Elaine Tan 5% %JWC Business Development Director 0CDKN /CTKG Special Projects Director 0CFC /CTKG Business Development Team 0QQT #VKSC 5WHKCP Shasha Athira Shaharuddin Editorial Coordinator Nik Alaika Sahrin Editorial Team /CPPC ,CNKN Nezia Azmi (CK\CJ /CYK #HKS (CW\K Contributors r#NKEG ;QPI r%JQY 'G 6CP r'OKN[ .QJ r'NCKPG &QPI r)TCEG %JGP r.CWTGP -KPI

105

TIME FOR SHARING 106 6JQWIJ KV OC[ UGGO NKMG C HQTGKIP EQPEGRV the shared services industry is actually a cost effective way to manage resources. Perhaps there’s a career in it for fresh graduates?

Publisher (CTKU / /CTKG

Consultant Editor Alan De Souza

95

Production Team Syed Rasyidi Zafirah Zainal Abidin Nurul’Aini Adnan Printer 2GTEGVCMCP 1UCECT 5FP $JF .QV ,CNCP # 6COCP $WMKV /CNWTK +PFWUVTKCN #TGC -GRQPI -WCNC .WORWT GRADUANŽ is published by $+< %QPPGZKQP 5FP $JF 6JG %QTRQTCVG %GPVTG $ $NQEM $ (KTUV (NQQT &CVCTCP 2CNOC ,CNCP 5GNCOCP #ORCPI 5GNCPIQT /CNC[UKC 6GN (CZ E-mail : bizc@streamyx.com Website : www.graduan.com 22 +5$0

EDITORIAL POLICY All companies highlighted in Ž GRADUAN hire fresh graduates. We select the companies. All articles are written by GRADUAN Ž writers and contributors, unless otherwise indicated by the word “Advertorial� to indicate that the company has paid for the pages. We aim to be the most trustworthy source of careers and employment for fresh graduates; and pay attention to both accuracy and independence. We have a high presence of advertisements because this ensures a high percentage of FREE books for final year undergraduates. (On a first come, first serve basis) Copyright is held by the publisher. The views and contents expressed Ž in GRADUAN and those of the contributors do not necessarily reflect those of the publisher or editor. No part of this publication may be reproduced or transmitted in any form or by any means, electronic, or mechanical, including photocopy, recording or any information storage and retrieval system without written permission of the publisher. (Information provided is accurate at time of printing).

CURRENT ISSUES Islamic Finance In Malaysia Money Train She’s On Top! Staying Talented People Power

The Best Start Nestlé Malaysia and Singapore CFO Marc Seiler Makes the Case for Building a Finance and Accounting Career at the Swiss Multinational Marc Seiler first entered the world of finance when he joined the now defunct Coopers and Lybrand in Paris where he spent three years working on various audit assignments in the manufacturing and service sectors. This stint helped him gain experience and knowledge to join bottled water company Perrier as a financial controller. Two years later, Nestlé acquired Perrier and after a brief stint as commercial controller for the French water market, Seiler was transferred to the North American subsidiary of the multinational for a two-year assignment, which eventually became a 13-year journey with several roles in Nestlé’s bottled water business: Director of Corporate Planning, Director of Finance Manufacturing and Supply Chain, Commercial Finance Director, CFO for the Canadian Operations, CFO for the US Retail Business, and eventually, Business Development and M&A Director. “These different positions

allowed me to touch on all parts of a fast growing business as well as on many areas of finance,” says Seiler. Four years ago, Seiler joined the Food and Beverage business of Nestlé, moving to Malaysia as CFO for Nestlé’s activities in

“The wide level of exposure allows our employees to build relevant local and international experience and develop into well-rounded finance and accounting professionals.”

Malaysia and Singapore. “Our business in this part of the world encompasses all Nestlé categories and we manufacture most of our products in eight local factories. Nestlé Malaysia Berhad is also a listed company on the Malaysian stock market which provides interesting exposure for financial professionals as we need to deal with financial requirements from Bursa Malaysia. I feel very fortunate as my assignment in Southeast Asia has proven to be a great experience both from a professional and personal perspective.” The Finance and Control (F&C) function in Nestlé is structured and organised to deliver the multinational’s strategic ambition, which is to be the leading Nutritional, Health and Wellness company that is a reference for financial performance and trusted by all stakeholders. “The F&C function acts as a catalyst to accelerate Nestlé’s performance. Finance employees act as partners and copilots to the businesses to ensure compliance and sustainable value creation by driving the Nestlé model. This model is focused on top line growth, margin and EPS growth, capital efficiency and market leadership,” Seiler explains. A key advantage to joining Nestlé Malaysia’s F&C function is that it offers finance and accounting professionals opportunities to get exposure across all the Nestlé businesses in sales, manufacturing, supply chain, procurement or marketing roles, or in one of its 13 business units. “The wide level of exposure allows our employees to build relevant local and international experience and develop into well-rounded finance and accounting professionals,” says the CFO.

“As a company part of a multinational group, we develop our people through on-the-job experience as well as local and international training.”

The F&C function employs young graduates and professionals with experience in a wide and varied area including accounting, controlling (supporting business units and functions), audit, tax, credit control and more. Seiler says the company puts special emphasis on people – ensuring that training and development plans are in place to support the career growth of employees. “As a company part of a multinational group, we develop our people through on-the-job experience as well as local and international training,” he adds. This of course, comes together with the whole package of working for the Nestlé family – a high-performance culture that puts the emphasis on diversity, innovation and growth, and a high-performance culture supported by differentiated rewards and development.

CURRENT ISSUES

ISLAMIC FINANCE IN

MALAYSIA Ăž ĂƒÂŤi>À…i>`ˆ˜} ĂŒÂ…i `iĂ›iÂ?ÂœÂŤÂ“iÂ˜ĂŒ Âœv > }Â?ÂœL>Â? ĂƒÂ?>“ˆV w˜>˜Vˆ>Â? ĂƒĂžĂƒĂŒi“] >Â?>ĂžĂƒÂˆ> ÂˆĂƒ >ĂŒ ĂŒÂ…i vÂœĂ€i >Ăƒ -ÂœĂ•ĂŒÂ…i>ĂƒĂŒ Ć‚ĂƒÂˆ>½Ăƒ Â“ÂœĂƒĂŒ ÂŤĂ€Âœ}Ă€iĂƒĂƒÂˆĂ›i ĂƒÂ?>“ˆV Vœ““iĂ€Vi Â…Ă•L° by Steve de Souza

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alaysia’s predominant Muslim population has augured the development of a sophisticated +UNCOKE ƂPCPEKCN U[UVGO KP VJG EQWPVT[ that is today, serving as a model for other INQDCN ƂPCPEKCN OCTMGVU /CNC[UKC KU PQY seen by many in the industry as a global ƂPCPEKCN RQYGTJQWUG CPF CP KPVGTPCVKQPCN and regional hub for Islamic commerce. The creation of The Pilgrims Fund Board (Tabung Haji) in 1963 marked VJG EQWPVT[oU ƂTUV PGGF FTKXGP UVGRU KPVQ +UNCOKE ƂPCPEG +V VQQM UQOG years later before Bank Islam Malaysia Berhad (BIMB) was formed to provide an alternative direction from conventional banking products and services. In 2000, Bank Negara Malaysia and the Securities Commission were given the 10 | GRADUAN

mandate to develop a master plan for VJG EQWPVT[oU ƂPCPEG CPF ECRKVCN OCTMGVU which included Shariah compliant products and services. Since then, the pace of FGXGNQROGPV HQT +UNCOKE ƂPCPEG RTQFWEVU has accelerated and expanded in scope and diversity. The underlying principles that govern +UNCOKE DCPMKPI CTG OWVWCN TKUM CPF RTQƂV sharing between parties, the assurance of fairness for all, and that transactions are based on an underlying business activity or asset. Activities that involve interest (riba), gambling (maisir), and speculative trading (gharar) are prohibited. The ultimate goal is to operate a viable CPF CEEGRVGF +UNCOKE ƂPCPEKCN U[UVGO that functions in parallel with Malaysia’s EQPXGPVKQPCN ƂPCPEKCN U[UVGO )QXGTPCPEG

With the concepts of Islamic banking CPF ƂPCPEG HQTOCNN[ GUVCDNKUJGF $0/ moved to allow conventional banks to provide Islamic banking services under special guidelines in order to propagate the principles universally. Today, there are some 18 banks providing Islamic banking facilities in Malaysia. The growth rate of Islamic compliant products exceeds that of conventional products by a considerable margin, gaining traction even among non-Muslims. Presently, Malaysia’s Islamic banking assets have exceeded USD70 billion with an average growth rate of about 20 per cent annually. It boasts a comprehensive ƂPCPEKCN KPHTCUVTWEVWTG CFQRVKPI INQDCN regulatory and legal best practices. Malaysia has also placed a strong emphasis on human capital development alongside the development of the +UNCOKE ƂPCPEKCN KPFWUVT[ VQ GPUWTG VJG CXCKNCDKNKV[ QH +UNCOKE ƂPCPEG VCNGPV All of these value propositions have transformed Malaysia into one of the most developed Islamic banking markets in the world. In Malaysia, there is easy access to a O[TKCF QH +UNCOKE ƂPCPEG RTQFWEVU CPF services. These include savings schemes and investments in trust funds, loans on housing, automobiles and motorcycles, as well as instalment payments on household items like fridges and washing machines. There are again Shariah compliant insurance products via Takaful Malaysia and related companies.

Islamic banking also has a bright future in corporate and institutional banking. It has recently been given an unexpected boost from the unprecedented fallout in EQPXGPVKQPCN DCPMKPI 6JG Ć‚PCPEKCN ETKUGU in the US and Europe were brought about by rampant (non-asset based) speculation and risk taking, driven by greed and lack of institutional regulation. This has made products such as sukuk, which is an equity-based instrument (similar to a bond), more prudent and attractive to the risk averse. These instruments JCXG CEEQWPVCDNG TGCNKUCDNG RTQĆ‚V CPF loss-sharing elements thereby ensuring investment sustainability in the short and long term. Many Asian countries have leveraged on the sukuk market to raise funds. There KU C UGGOKPIN[ IQQF Ć‚V DGVYGGP sukuk CPF KPHTCUVTWEVWTG RTQLGEV Ć‚PCPEKPI that requires large capital outlays with long gestation periods. Globally, the performance of the sukuk market has exceeded expectations. From an outstanding amount of USD33 billion in 2006, the sukuk market has expanded more than eightfold to USD300 billion by early 2013. In Malaysia, at the moment more than half of outstanding bonds are Islamic in nature. The growing awareness and desire for +UNCOKE Ć‚PCPEG RTQFWEVU YKNN PQ FQWDV FTKXG the industry to develop solutions for more URGEKĆ‚E EQTRQTCVG QT KPUVKVWVKQPCN PGGFU The challenge though is how quickly +UNCOKE Ć‚PCPEG ECP OCMG KPTQCFU KP VJG secular capital markets dominated by the largest global economies. As has been the case recently though, conventional markets have earned, the perhaps unfortunate moniker, of being “taintedâ€? and perhaps this will increasingly convince investors to XKGY +UNCOKE Ć‚PCPEG RTQFWEVU CU OQTG VJCP just a viable alternative to existing fare. GRADUAN | 11

CURRENT ISSUES

QH +UNCOKE Ć‚PCPEG RTQFWEVU CPF UGTXKEGU are contained in the Islamic Banking Act and the Takaful Acts (which covers Shariah compliant insurance products). Bank Negara Malaysia (BNM) is in the fore in regulating and providing guidelines in the provision of such services.

CURRENT ISSUES

THE

MONEY TRAIN .KHG KP VJG Æ‚PCPEKCN UGTXKEGU UGEVQT URGNNU DKI DWEMU CPF ITGCV QRRQTVWPKVKGU DWV GZRGEV VQ RWV KP NQPI JQWTU VQQ

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to

2C[ TCPIG QH GZGEWVKXG NGXGN RQUKVKQPU KP VJG KPFWUVT[ (Source: Kelly Services Employment Outlook & Salary Guide 2012/2013)

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12 | GRADUAN

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GRADUAN | 13

CURRENT ISSUES

>11 H URS

CURRENT ISSUES

SHE’S

ON TOP!

>Â˜Ăž “>Ăž >ĂƒĂƒĂ•Â“i ĂŒÂ…>ĂŒ ĂŒÂ…i w˜>˜Vi ˆ˜`Ă•ĂƒĂŒĂ€Ăž ÂˆĂƒ > ĂŒÂœĂ•}Â… ĂœÂœĂ€Â?` vÂœĂ€ ĂŒÂ…i v>ÂˆĂ€iĂ€ ĂƒiĂ?° -Âœ Ăœi }ÂœĂŒ ĂŒĂœÂœ ĂœÂœÂ“i˜ ĂŒÂœ ĂŒiÂ?Â? Ă•Ăƒ ĂœÂ…>ĂŒ ÂˆĂŒ½Ăƒ Ă€i>Â?Â?Ăž Â?ˆŽi° /Â…i Ă›iĂ€`ˆVĂŒÂś >Â?i ÂœĂ€ vi“>Â?i] ĂžÂœĂ• V>˜ ĂŒÂ…Ă€ÂˆĂ›i >˜` }Âœ Ă€Âˆ}Â…ĂŒ ĂŒÂœ ĂŒÂ…i …ˆ}Â…iĂƒĂŒ Ă€>˜Žt by Mel Sim

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P VJG Ć‚PCPEG KPFWUVT[ VJG IGPGTCN consensus is that gender stereotypes are more prominent, especially when men dominate certain departments. Aside from stereotypes, you can’t help but wonder if women – who are obviously the more gentle and soft-spoken of the two sexes – can “surviveâ€? in an industry that is often dubbed cutthroat, tough and unforgiving (you’ll know what we’re talking about if you’ve seen the movie The Wolf of Wall Street!). Then there are the long hours, which may not be a problem when you are younger but when you are a mother of a young child, well, that’s a different story altogether. 14 | GRADUAN

+U KV TGCNN[ VJCV FKHĆ‚EWNV HQT C YQOCP VQ FQ YGNN KP VJG Ć‚PCPEG KPFWUVT[! 1T KV KU CNN LWUV a misconception for certainly times must JCXG EJCPIGF! 6Q IGV VQ VJG DQVVQO QH this, we turned to our female insiders in the industry. Thankfully, they share more positive news. Says Fozia Amanulla, CEO of Alliance Islamic Bank, “Nowadays, as in many other industries in Malaysia, it is not uncommon to see women playing senior QT ETKVKECN TQNGU KP VJG /CNC[UKCP Ć‚PCPEKCN industry. Now and in the recent past, we have had women CEOs in commercial banks, investment banks, Islamic banks, insurance companies, fund management companies, discount houses and more.

Datin Maznah Mahbob, CEO, AmInvest, agrees. “Being a woman can have its advantages, especially in your earlier years in the job. Somehow, it is more OK for women to ask questions and get away with it. So make full use of that advantage and learn as much as you can. But at the end of the day, it’s really about how you quantify your progress. If your track record is solid, then your gender shouldn’t come into play,â€? she says. .GCTP OQTG CDQWV YQOGP KP Ć‚PCPEG from our top leaders who share their experience of climbing to the top.

FOZIA AMANULLA, CEO OF ALLIANCE ISLAMIC BANK Fozia Amanulla started her career in an CEEQWPVKPI Ć‚TO DGHQTG NCPFKPI JGTUGNH a position in investment banking and now as the head honcho of Alliance Islamic Bank. Her gender, she says, has not been an issue at all. “While there JCXG DGGP URGEKĆ‚E ECUGU YJGTG VJGTG were challenges because of my gender, I would like to think that it is not a systemic or cultural issue but attributable VQ RTGLWFKEGU JCTDQWTGF D[ VJG URGEKĆ‚E

“

Malaysia has

had a woman central bank governor since the late 1990s – long before the IMF or the Federal Reserve had one.

�

individuals I had to deal with. And even then, these incidences are far from being commonplace.â€? HOW WOMEN FARE IN MALAYSIA “Since the 1970s, industry luminaries such as Datuk Khatijah Ahmad of KAF +PXGUVOGPV $CPM CPF ;/ 6GPIMW &CVQo Paduka Noor Zakiah Tengku Ismail of Kenanga Investment Bank have helped pave the way for women to play prominent roles in the development of VJG FQOGUVKE Ć‚PCPEKCN KPFWUVT[ #U UWEJ VJG /CNC[UKCP Ć‚PCPEKCN KPFWUVT[ KU PQV QPG that suffers from or practises overt gender discrimination. And there is a healthy level of equal opportunity for both genders in any position – as long as competency and capability are demonstrated.â€? MOSTLY MEN AT THE TOP? “While men may dominate in terms of numbers, this is not a structural situation but something that can change with OQTG EQPĆ‚FGPV CPF ECRCDNG YQOGP coming up the ranks. Within the Alliance Financial Group, there is no shortage of management talents who happen to be women. In our management committee alone, we have strong and GRADUAN | 15

CURRENT ISSUES

Malaysia has had a woman central bank governor since the late 1990s – long before the IMF or the Federal Reserve had one.�

CURRENT ISSUES

talented ladies leading our Corporate Strategy, Information Systems, Human Resource, and Internal Audit teams. Women comprise 61 per cent of our total staff here and 33 per cent at senior management levels. We have more women in key leadership roles in the central bank and industry players. This is a testament to women demonstrating and being more assertive of their capabilities. FINDING A BALANCE BETWEEN WORK AND LIFE AS A WOMAN “It really depends on how one manages RTKQTKVKGU CPF GXGP JQY QPG FGĆ‚PGU ‘having it all’, which may differ from one individual to another. Personally, I have had the opportunity of working straight through nine months of pregnancy doing deals, meeting clients, holding Board and management meetings, and leading a team of 150. Even now, as a mother, I feel that as long as I know what my priorities are at any point of time, juggling the two roles is not necessarily as gargantuan as it is made out to be.â€?

HER ADVICE ON ACHIEVING SUCCESS!

#1 “Knowledge, diligence,

perseverance, and integrity.�

#2 “Know what you are getting into, know what you want, and be smart about how you get it.� #3 “Always be true to

yourself as a woman and as a person.�

16 | GRADUAN

DATIN MAZNAH MAHBOB, CEO, AMINVEST It was some 30 years ago when Datin /C\PCJ /CJDQD Ć‚TUV UVCTVGF JGT ECTGGT KP EQTRQTCVG Ć‚PCPEG s CV #O$CPM Through the years, she’s risen up the ladder to head several departments before landing herself the position of CEO at the robust and demanding funds management division of AMMB Holdings Berhad, AmInvest. “I’ve always been KPVGTGUVGF KP Ć‚PCPEG +V KU YJCV OCMGU the world go round and is the core driver of many things. Since young, I’ve always wanted to be part of this fascinating industry and have been exposed to a cross-section of it.â€? THE EARLY YEARS “I think women have a huge advantage DGKPI KP VJG Ć‚PCPEG KPFWUVT[ FWTKPI VJG early years of their career. Somehow, people expect women to be ‘clueless’, not that this is true, but I believe you should use this misconception to your advantage and ask as many questions as possible from the more experienced bankers and learn from them as well. However, I have learnt that it is because of this misconception, people tend to be more generous when it comes to sharing knowledge with women, which gives you an advantage over men your age as they are supposed to already know GXGT[VJKPI ;QW ECP IGV CYC[ YKVJ KV UQ do your best to be as absorbed into the Ć‚PCPEKCN YQTNF CU RQUUKDNG VJG OKPWVG you step foot in it.â€?

A PERSONAL EXPERIENCE “I climbed the ladder quite fast in my early days because of my performance. But it soon became quite daunting, as I was leading a team at 35 years of age where some people were older than me and more so were men as well. This became challenging, especially for a younger woman like me who loves to introduce new directions to take the business forward. This was scary for them, especially when headed by a younger person and a woman at that. Somehow, people are more inclined to follow someone with grey hair and preferably a man. Naturally, there was resistance. The experience taught me all about how to deal with different personalities and helped me develop people skills, something that cannot be studied and learned from textbooks.”

“

Build credibility and a track record. Your gender will then become irrelevant.

”

HER ADVICE ON ACHIEVING SUCCESS!

#1 “Build credibility and a

VTCEM TGEQTF ;QWT IGPFGT YKNN then become irrelevant.”

#2 “Women are used to

multitasking. So make this your trait to succeed in your career.”

#3 “Know yourself and know your circumstances. If you have good support at home, make full use of it. I have a supportive husband who doesn’t harbour the fantasy of having a housewife and a mother who could help with the household. This gives me VJG EQPƂFGPEG VQ IQ CJGCF with my career choices. With my circumstances, it would have been a waste not to pursue my dreams.” GRADUAN | 17

CURRENT ISSUES

A DISADVANTAGE p6JG VCUM HQT C YQOCP KP ƂPCPEG becomes more challenging as you climb higher up the ladder. This is when you start contributing your ideas, and there will be people who will be sceptical of what you have to contribute. Some may doubt you – mainly because you are a woman – and may not take what you have to say seriously. But as I’ve experienced, if you have a proven track record that is quantitative, you have nothing to worry about as that will back up your contribution to your organisation. It will translate into your performance and this can be measured and ranked against your peers – female and male. Also, in a corporate environment such as in a bank, there will be some pressure for women to develop aggressive personalities to feel equal to their male counterparts. This will be tough, especially when our feminine traits are being challenged. But don’t let it deter you from contributing.”

CURRENT ISSUES

STAYING

TALENTED Ƃà > >Þà > ÃÌÀ `iÃ Ì Ü>À`à Ìà ÓäÓä } > Ì LiV i > } V i iV Þ] Ì Ü >Ûi Ì >``ÀiÃà > «ÀiÃà } «ÀiÃi Ì ÃÃÕi q LÀ> `À> v Ìà } Þ Ã i` «À viÃà > ð ,Ƃ 1Ƃ ® Ì> ià > >Ì Ì i à ÌÕ>Ì ° by LK Tan

M

alaysia has ambitions to become a high-income economy by 2020. However, a troubling issue potentially stands in its way, that is the brain drain of the country’s workforce. What this term means is that the best and the brightest talent in any given place leaves to seek greener pastures elsewhere. In Malaysia’s case, the most creative, talented and intelligent would

18 | GRADUAN

take up better opportunities in a foreign country, whether due to the lack of similar opportunities here or better living conditions there. Conversely, the brain drain is also about attracting foreign talents to Malaysia. +V KU GUVKOCVGF VJCV ƂXG RGT EGPV QH VJG population leaves the country annually. According to a World Bank report in

2011, the number of skilled Malaysians living abroad is up by 300 per cent in the last two decades. The report estimates that 1.5 Malaysians, or 5.3 per cent of the population, live and work outside of the country. Many of them are from key UGEVQTU UWEJ CU Ć‚PCPEG VGEJPQNQI[ CPF engineering. 6JG NCTIGUV DGPGĆ‚EKCT[ QH VJG DTCKP drain is Singapore, where a majority of overseas Malaysians live and work. Malaysians can be found all over the world, with large concentrations in the United Kingdom, United States, Australia and New Zealand. Recently, Taiwan was reported to be actively courting Malaysian students to its shores. Once overseas, these Malaysians often climb up the ranks to top and middle management positions. If the tide is not stemmed, it could hurt Malaysia’s ambition to become a high-income economy by 2020. The country could get stuck in its second-world category, as the lack of skilled human capital would be its biggest deterrent to its ambitions. As a response to the problem, the government established Talent Corporation Malaysia Berhad (TalentCorp) in 2011 to help stem VJKU KPĆƒWZ CPF EQCZ pGUECRGGUq KPVQ returning. So far, the agency has enticed approximately 2,100 Malaysian professionals to return to the country over a three-year period under the

�

Returning Expert Programme (REP). Under the programme, returnees can GPLQ[ EGTVCKP DGPGƂVU UWEJ CU HCXQWTCDNG tax rates, tax exemption on personal belongings, and quick eligibility for permanent resident status for foreign spouses and children. The REP now involves corporations interested in courting professional Malaysians abroad. Participating employers come from a variety of key UGEVQTU VJCV KU ƂPCPEG JGCNVJECTG telecommunications, and professional services. The Outreach and Engagement sessions allow employers to directly engage and share about opportunities with Malaysian professionals and students in several countries such as the United Kingdom, United Arab Emirates, and Japan. TalentCorp’s other objectives are to improve local talents within, and facilitate the enticement of foreign talents to join our ranks through its Residence Pass-Talent initiative. However, they also recognise the value of having Malaysians living overseas as a valuable network for Malaysian companies expanding abroad to new markets. One of the plugs to halt the country’s brain drain is to encourage women to go into or return to the workforce. A percentage of female workers tend to leave the workforce due to a variety of GRADUAN | 19

CURRENT ISSUES

“

Economic growth, encouraging government policies, and better homeground opportunities are just some of the reasons for return.

CURRENT ISSUES

reasons, including starting a family, where they do not return to the workforce. The average female labour participation in the country currently stands at 48 per cent. Part of the incentives to encourage women to stay in, or return to the workforce, is for employers to adopt ĆƒGZKDNG YQTMKPI JQWTU #U HQT VJG DCPMKPI CPF Ć‚PCPEG industry, there is no shortage of bright CPF GZVTGOGN[ SWCNKĆ‚GF /CNC[UKCP candidates. However, foreign banks can easily poach these smart talents by offering salaries that local banks are not able to match. This has led to a UJQTVCIG QH JKIJN[ SWCNKĆ‚GF RGTUQPPGN KP this industry, potentially hampering the expansion and success of the domestic banking sector. It has reached a point where the government and industry insiders are taking proactive steps to promote growth from within. The need to generate a steady supply of talent and address the short supply of critical talent with the right skills are given top priority. +V KU C EJCNNGPIKPI VCUM HQT VJG Ć‚PCPEKCN KPFWUVT[ VQ Ć‚PF VJG TKIJV VCNGPV HQT VJG 20 | GRADUAN

job, leading to a talent war for the best available. Bank Negara Malaysia introduced FSTEP, an intensive one-year training programme for graduates and mid-careerists interested KP RWTUWKPI ECTGGTU KP VJG Ć‚PCPEKCN industry. There is also the International Centre for Leadership and Finance (ICLIF), established in 2003 in Kuala Lumpur, to provide leadership development and corporate governance programmes for VJG Ć‚PCPEKCN KPFWUVT[ CPF EQTRQTCVKQPU Participants include senior executives from Malaysia, the region and beyond. The push to retain and train from within while enticing overseas talents to return continues. Countries like India and China, which have long exported VJGKT Ć‚PGUV CTG UGGKPI C TGXGTUCN VTGPF in recent years. Economic growth, encouraging government policies, and better homeground opportunities are just some of the reasons for return. If Malaysia is to experience similar success with its skilled professionals, both will have to walk down the same path.

CURRENT ISSUES

PEOPLE

POWER

ÂœĂŒ > }Ă€i>ĂŒ ˆ`i>Âś ii` ĂƒÂœÂ“i V>ĂƒÂ…Âś ÂœĂ€}iĂŒ > L>Â˜ÂŽĂ† ĂŒĂ€Ăž VÂ…>ĂŒĂŒÂˆÂ˜} Ă•ÂŤ ĂƒÂœÂ“i ÂˆÂ˜Ă›iĂƒĂŒÂœĂ€Ăƒ ÂœĂ€ L>VÂŽiĂ€Ăƒ œ˜ VĂ€ÂœĂœ`vĂ•Â˜`ˆ˜} ÂŤÂ?>ĂŒvÂœĂ€Â“Ăƒ ÂˆÂ˜ĂƒĂŒi>`° by Emily Loh

W

hen Margaret Li wanted to start her Chinese-American restaurant Mei Mei in Boston, she didn’t go to a bank for a loan. Instead, she took her cause to Kickstarter, the crowdfunding platform. In 24 days, she raised USD36,270 from 354 backers, who pledged between USD5 and USD1,000. Crowdfunding is making dreams come true for would-be entrepreneurs, tinkerers, inventors, creatives and activists by giving them easier access to credit. While bankers demand business

plans and scrutinise the numbers, backers on crowdfunding sites are happy to support an idea that resonates with them. Here is how it works. Say you want to OCMG C OQXKG ;QW UVCTV C RTQLGEV QP C crowdfunding site and pitch your idea. Anyone who likes what you’re “sellingâ€? pledges to give you seed money. In return, you might offer them a part in the movie or tickets to the premiere. Just about anything can be crowdfunded HTQO DWUKPGUU UVCTV WRU VQ PQP RTQĆ‚V GRADUAN | 21

CURRENT ISSUES

“

For crowdfunding to work, two aspects must co-exist in a big way – the idea or projects and the base of supporters. In Malaysia, we still need to educate not only the supporters but also project owners QP VJG DGPGĆ‚VU QH TCKUKPI VJGKT HWPFU through the crowd. community or social initiatives to events. Returns also vary. Exclusive rewards are just one option. Funders could also be paid in equity or interest. Crowdfunding is not new. “Mozart, Beethoven, Whitman, Twain, and other artists funded works in similar ways – not just with help from large patrons, but by soliciting money from smaller patrons, often called subscribers. In return for their support, these subscribers might have received an early copy or special edition of the work,â€? Kickstarter explains on its website. In Malaysia, people who couldn’t get credit easily used to pool their money and take turns to dip into the communal coin bank. In this way, poor folks could build a house, host a wedding, expand a business and so on. The Internet simply “turbo chargedâ€? these early fund-raising models and made it more transparent, accessible and global. Since its launch in 2009, Kickstarter has raised USD825 million in pledges to fund 49,000 projects – that’s UGTKQWU OQPG[ 22 | GRADUAN

�

In Asia, crowdfunding has yet to take off in a big way. “None of the crowdfunding platforms in this part of the world have reached the mass of the likes of Kickstarter or Indiegogo,â€? says Sam 5JCĆ‚G EQ HQWPFGT QH NQECN ETQYFHWPFKPI site pitchIN. pitchIN, which started in June 2012, has successfully funded just 11 out of 20 projects – which may seem low but then only 44 per cent of projects on Kickstarter get funded. The most successful of these is TeeSomethingNice, a T-shirt project. It received more than RM24,000 from 68 backers. Will crowdfunding grow to the point where it will threaten traditional DCPMKPI! 5JCĆ‚G FQGUPoV UGG VJG EWTTGPV reward or donation-base crowdfunding model posing any serious threat, but a /CNC[UKCP DCPMGT HTQO C INQDCN Ć‚PCPEKCN group believes it could actually be good for business. “Crowdfunding provides seed capital. Once the business grows, all the major banks can start coming in, and start exploring new businesses. It’s a beautiful thing not to have to take such TKUMU q JG UC[U

GRADUAN TALKS TO pitchIN CO-FOUNDER SAM SHAFIE ABOUT PIONEERING THE CROWDFUNDING TRIBE IN MALAYSIA.

WHY DID YOU SET UP pitchIN?

“I’ve been an avid ‘investor’ in projects on Kickstarter since the early days. It was inspiring that a whole new ecosystem was born and people with great projects had access to money and the ability to validate their ideas instantly.� The core features of crowdfunding is an important tool for an entrepreneurial ecosystem in any country – an ecosystem of folks with ideas, very good ones, and a strong base of supporters that will validate that idea by sending them pledges of money. That ecosystem

was missing here – at least from our perspective. So my co-founder Kash and I decided that we should start one in Malaysia and pitchIN was duly launched.�

HAS IT BEEN HARD?

“We knew from the start that this will be a challenge. I remember an incident when we tried to explain pitchIN and ETQYFHWPFKPI VQ C IGPVNGOCP *KU Ć‚TUV comment was why didn’t the project owners work to get their ideas or project realised. We knew then that this will not be a walk in the park. pitchIN is already a year old. It has been an interesting journey for us so far. There are now more people who know about crowdfunding than when we started. But to be honest, we really don’t know if crowdfunding will take off in a big way here Ă la Kickstarter. The signs are encouraging but it won’t be any time soon. Perhaps another 18 to 24 months. Even if we can be a third of what Kickstarter is, that itself is massive for an Asian-based crowdfunding site.â€?

WHAT IS YOUR ADVICE FOR THOSE SEEKING TO USE CROWDFUNDING TO FUND THEIR PROJECTS?

“Build a customer or fan base earlier on. Having a great idea or project is not enough. Support can only be driven with the right marketing and that is why we advise project owners to focus on making a great project delivery, e.g. an inspiring and informative video about the project, a clear and concise description of the project, goals and objectives, and a reward tier that will create value for the supporter. Most importantly, they should come with an attitude that is uninhibited by fears of failure or that someone may steal their ideas. In the end, it is all about execution.� GRADUAN | 23

CURRENT ISSUES

Chief economist Nathaniel Karp, from BBVA Compass (part of global Ć‚PCPEKCN UGTXKEGU ITQWR $$8# %QORCUU Bancshare), aptly concludes, “It is hard to predict if crowdfunding will evolve to a point that it will become an alternative for the mainstream customers of banks. *QYGXGT VJKPIU EQWNF EJCPIG Ć‚XG QT 10 years in the future. Crowdfunding platforms could naturally evolve to DGEQOG VJG RTKOCT[ UQWTEG QH Ć‚PCPEKCN services for young generations.â€?

24 | GRADUAN

TAKING IT FROM THE TOP Investing For Malaysia And Malaysians Going All The Way Achieving The Impossible The Global Banker Focused On Success The Banker The Delicate Balancing Act

GRADUAN | 25

TA K I N G I T F R O M T H E T O P

INVESTING FOR MALAYSIA AND MALAYSIANS

* Ài«ÀiÃi Ìà Ài Ì > ÕÃÌ > `>Ì ÀÞ Ì Þ `i`ÕVÌ Ã v Þ ÕÀ Ì> i i Ã> >ÀÞ° >ÌÕ - > À , `âÕ> ] " v Ì i « Þiià *À Û `i Ì Õ `] Ì> à >L ÕÌ Ì i « ÀÌ> Ì À i Ì i À}> Ã>Ì « >Þà >Ì LÕ ` } > ` «À Û ` } v À Ì i vÕÌÕÀi v > >Þà > ð

T

he Employees Provident Fund, or EPF, is the single largest institutional investor in the region. RM580 billion in size, and growing at a rate of 10 per cent every year, EPF invests across a wide spectrum of industries and asset classes. It is also a large global investor, investing 26 | GRADUAN

more than RM100 billion in markets around the world through bonds, equities and properties in key countries. “Our primary goal is to protect the capital value of our members’ contributions and to ensure that we have continuous

Our people are dedicated, passionate, and focused on our mission. We support them by continuously investing in their ongoing development and making sure the right resources are available in technology and training. real growth in the value of their savings. 9G VCTIGV VQ DGCV VJG TCVG QH KPĆƒCVKQP by two per cent annually to ensure that our members can achieve a comfortable retirement at the age of 60,â€? explains Datuk Shahril Ridzuan, CEO of EPF. Given that the key objective of the organisation is the protection of capital value, it is no surprise that EPF is a large investor in government and other highgrade corporate securities. However, not many people know that the fund is also one of the largest and most active investors in public equities in Malaysia. “We are the most active investor in the Malaysian stock exchange. On any given day, our trades can constitute up to 20 per cent of volume in the shares we are invested in. We are also substantial shareholders in many of the largest companies in Malaysia. This focus on growth helps us generate the dividends and capital growth needed to achieve our aims,â€? says Datuk Shahril. EPF also invests directly in businesses and infrastructure that are part of the backbone of the country and economy. It co-owns businesses like PLUS, which operates highways, and the KFC franchise, the largest operator of restaurants in the

�

country. “From banks to plantations, from telcos to hospitals, EPF’s investments have helped Malaysia grow and earned our members good returns,â€? says Datuk Shahril. The organisation is widely recognised as one of the best service organisations in the country, winning numerous awards for KVU UGTXKEG NGXGNU GHĆ‚EKGPE[ CPF EWUVQOGT experience. This, the CEO says, is attributed to the more than 5,000 people it employs across nearly 70 locations around Malaysia. “Our people are dedicated, passionate, and focused on our mission. We support them by continuously investing in their ongoing development and making sure the right resources are available in technology and training. “For example, we support our staff who CTG VCMKPI VJGKT RTQHGUUKQPCN SWCNKĆ‚ECVKQPU KP Ć‚PCPEG CPF CEEQWPVKPI CEVWCTKCN sciences and compliance. In investments, we make sure that all our graduate employees undertake the industry SWCNKĆ‚ECVKQPU KPENWFKPI CNN NGXGNU QH VJG CFA,â€? he continues. The most promising employees are also sent on local and foreign attachments GRADUAN | 27

TA K I N G I T F R O M T H E T O P

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TA K I N G I T F R O M T H E T O P

with investment banks and fund managers to enhance their experience levels and to expose them to the wider market. “We have been very successful in developing investment and management professionals who go on to achieve great careers in EPF and the wider market,� Datuk Shahril notes. As trustee for the retirement savings of over 13 million people, EPF shoulders a great responsibility. By law, every Malaysian who works in formal employment contributes a portion of their monthly salaries to EPF and their employer makes a similar payment. The accumulated savings have to be invested with the utmost care in managing the risks associated with trying to achieve the desired investment objectives. As such, a career with the organisation demands more. Datuk Shahril explains that employees need to have a high level of commitment to members – the men and women who have entrusted their savings to EPF. “Our people are distinguished by this commitment. Whether it is in the high levels of service at our branches, or the discipline and integrity in our investment processes, our employees always have our members’ interests as their priority. That passion and sense of service have helped us 28 | GRADUAN

“

As it expands its investments further globally and transforms branches to KPENWFG Ć‚PCPEKCN advisory services, EPF hopes to attract the right talents to join them on their journey.

�

achieve one of the lowest levels of VWTPQXGT KP VJG Ć‚PCPEKCN KPFWUVT[ q he says. As it expands its investments further globally and transforms branches to KPENWFG Ć‚PCPEKCN CFXKUQT[ UGTXKEGU '2( hopes to attract the right talents to join them on their journey. Do you have what it takes to invest for the future of /CNC[UKC!

GRADUAN | 29

TA K I N G I T F R O M T H E T O P

TA K I N G I T F R O M T H E T O P

GOING ALL THE WAY

<>Â?“>˜ ĂƒÂ“>ˆÂ?½Ăƒ ÂŤ>ĂŒÂ…Ăœ>Ăž ĂŒÂœ ĂƒĂ•VViĂƒĂƒ ÂˆĂƒ œ˜i ÂŤ>Ă›i` ĂœÂˆĂŒÂ… Â…>Ă€` ĂœÂœĂ€ÂŽ] }Ă€ÂˆĂŒ >˜` `i`ˆV>ĂŒÂˆÂœÂ˜] >˜` ĂŒÂ…i ĂœÂˆÂ?Â?ˆ˜}˜iĂƒĂƒ ĂŒÂœ ĂŒ>ÂŽi œ˜ ĂŒÂ…i VÂ…>Â?Â?i˜}iĂƒ ĂŒÂ…>ĂŒ V>“i Â…ÂˆĂƒ Ăœ>Ăž° by Chow Ee-Tan

A

t only 42, Zalman Ismail – the Director of Alternative Investment at KWAP (Kumpulan Wang Persaraan Diperbadankan) – had already amassed a JQUV QH YQTMKPI GZRGTKGPEGU KP VJG Ć‚PCPEG and corporate world. His story is an inspiring one. Zalman graduated in Finance Magna Cum Laude from the University of Eastern Michigan, USA, after being a recipient of several Dean’s List from Institut Teknologi MARA (ITM). He had planned to do a MBA in the United Kingdom and had even secured a scholarship from ITM. “While waiting for the course to start, I thought of getting some work experience and was offered a job at Rating Agency Malaysia (RAM). I found the job very interesting, and so I decided to stay on,â€? he says. It was a decision he didn’t regret. “I learnt a lot in my three years there. The experience was relevant to what I am inclined to do. There is the whole micro-spectrum of analysing companies and industries, including VJG Ć‚PCPEKCN CPF KPXGUVOGPV CURGEVU + CO RCUUKQPCVG KP Ć‚PCPEG CPF PWODGTU q JG UC[U

30 | GRADUAN

His next big break came when he was recruited to join Dresdner Kleinwort Benson Research as an infrastructure analyst for two years. It was there where Zalman improved JKU VGEJPKECN GZRGTVKUG KP VJG Ć‚GNF QH Ć‚PCPEG and stock broking. He says, “It was a small team but the company had some of the most experienced analysts who were pioneers in VJG Ć‚GNF + NGCTPGF HTQO VJG DGUV $WV + YCU also challenged to prove to my superior that I was worthy of the position.â€? Zalman had to work very hard during the early days. “I just got married. Every day, I got up at 5:30 in the morning and send my YKHG VQ YQTM Ć‚TUV 9G UVCTVGF GCTN[ CV CO #HVGT O[ YKHG Ć‚PKUJGF YQTM UJG YQWNF VCMG C DWU VQ O[ QHĆ‚EG CPF TGUV KP C EQTPGT YJKNG YCKVKPI HQT OG VQ Ć‚PKUJ VKNN NCVG UQOGVKOGU even at 1am. Even when she was pregnant the following year, she still did that,â€? he says. One person who Zalman spoke quite a lot about was his research head from Dresdner Kleinwort, Phuah Eng Chye, who was an GZRGTKGPEGF Ć‚PCPEKCN CPCN[UV CPF YTKVGT who became his mentor. One incident he

Due to the company’s restructuring, Zalman joined a telecommunication-engineering company, became a project manager, and then subsequently a general manager. “I wanted to try something different, and to see JQY + EQWNF CRRN[ Ć‚PCPEKCN LCTIQPU VQ TGCN NKHG companies. It was very different, but I had the chance to develop my managerial skills with a team under me,â€? he says. #HVGT CDQWV Ć‚XG [GCTU YKVJ VJG EQORCP[ Zalman was invited to join Sime Darby. He was tasked to develop an in-house research VGCO HQT 5KOG &CTD[ VJCV EQXGTU VJG Ć‚XG industries the corporation is involved in. In Sime Darby Group, Zalman held six different positions, and once, juggling between two posts. After setting up the team and recruiting new resources, he was made Head of Group Investor Relations and also Healthcare Head of Business Development. Zalman is proud of the fact that when he was holding the portfolio, Sime Darby was ranked third in Corporate Investors’ Relationship by investors; it had never been ranked before. “I believe it is my strength in technical expertise that helped me understand what investors want and therefore I was able to foster

“

$G ĆƒGZKDNG and adaptable. It is about gaining experience and putting in effort to hone your skills.

�

positive relationships with them,â€? he says. Eventually, he became the Head of Strategy for Sime Darby Property and as one of the General Manager of Development, where he was heading various high-end projects for Sime Darby Property. “My managerial skills had been further honed. I spent time coaching and training my team, sitting down with them and going through ways to develop themselves,â€? he says. In 2011, Zalman joined KWAP as the Director of Alternative Investment focusing on three areas – real estate, private equity, and infrastructure. This current job gives Zalman the opportunities to do global investments as KWAP has investments in regions such as #UKC 2CEKĆ‚E 0QTVJ #OGTKEC 'WTQRG GVE Looking back, Zalman says he had never deliberately planned his career progression. “I never said no to any job portfolio. I don’t seek monetary reward or titles; I believe they would come eventually. The most important thing about my career is how I can develop myself in every way. There are still a lot more things for me to learn,â€? he says. <CNOCPoU OGUUCIG VQ HTGUJ ITCFWCVGU! p$G ĆƒGZKDNG CPF CFCRVCDNG +V KU CDQWV ICKPKPI experience and putting in effort to hone your skills.â€? More importantly, he says, with the right attitude and discipline, it is possible to go far. GRADUAN | 31

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remembered clearly was how Phuah deleted JKU Ć‚TUV YTKVG WR C RCIG RCRGT QP CP infrastructure company that took several months to complete, from the computer. “He wanted to test to see how I reacted. I went back to him half an hour later and asked him what was wrong. He sat down and went through my mistakes step by step. Looking DCEM KV YCU IQQF NGUUQP q UC[U <CNOCP p;QW should have the will to take the heat and UVCTV CNN QXGT CICKP KH CNQPI VJG YC[ [QW Ć‚PF C ĆƒQY KP [QWT CRRTQCEJ QT OGVJQFQNQI[ /CP[ people defend their position because they have put in so much effort but deep down they knew there was a fundamental error. The incident taught me to step back to see the bigger picture.â€?

TA K I N G I T F R O M T H E T O P

ACHIEVING THE IMPOSSIBLE

>Ì ½ > i` >ÃÃ> > Ã>ÞÃ i LiV> i i v Ì i wÀÃÌ Ì µÕ> vÞ >Ã > >VÌÕ>ÀÞ > ` À Ãi Ì Ì i « Ã Ì v À Õ« > >} } ÀiVÌ À v -Þ>À >Ì /> >vÕ > >ÞÃ > iÀ >` ­/> >vÕ > >ÞÃ >® Ì À Õ} >À` Ü À ] v VÕÃ > ` «iÀÃiÛiÀ> Vi° by Steve de Souza

D

ato’ Mohamed Hassan bin Md -COKN ƂTON[ DGNKGXGU VJCV JCTF work is intrinsically virtuous and worthy of reward. His drive and tenacity to excel has carried him to the top of the insurance industry in Malaysia and regionally. He currently serves as Group Managing Director of Syarikat Takaful Malaysia Berhad (Takaful Malaysia). Growing up in Penang, he attended Penang Free School where he was taught in English. “I had the right language and technical skill sets and grounding to progress in actuarial

32 | GRADUAN

sciences overseas. I did well enough in school to obtain a JPA scholarship and was allocated an undergraduate place in Iowa. I had no choice in where I was sent but am grateful for the opportunity,” he shares. Dato’ Hassan Kamil was one of a handful of contemporaries who graduated with an actuarial science degree in the 1980s. After graduating, he continued on with studies to obtain an MBA in Finance from Iowa. He later obtained a Fellowship with the Society of Actuaries (FSA) and is a member of the American

Having trained in the US and working in the profession in the right companies, I believe I endowed myself with the right credentials from the start. Furthermore, coming back to Malaysia and working in various life insurance companies have given me the necessary exposure and opportunities for advancement. Academy of Actuaries as well as a Chartered Life Underwriter. p$GEQOKPI C SWCNKĆ‚GF CEVWCT[ KU not easy. There are a multitude of professional exams to get through before one obtains the FSA. It is one hard slog after another until you are about 25 or 26 years old. Currently, one has to ‘endure’ some 12 exams plus courses in order to obtain an associate membership. Then another 21 exams plus relevant work experience to earn C (GNNQYUJKR $WV VJG SWCNKĆ‚ECVKQPU CTG highly rewarding as actuaries can expect to earn as much as RM30,000 per month by the time they are 35.â€? Hassan Kamil spent the seven years after obtaining his MBA building his career at American Life Insurance Company in Wilmington Delaware and as Consultant at Towers Perrin in Philadelphia, USA. In 1994, he returned to Malaysia to become Deputy General Manager of Malaysia National Insurance. The next 12 years saw him moving into several prominent positions regionally including Senior Vice President and Chief Actuary of ING Insurance Bhd, and Acting

�

General Manager of AIA Indonesia. He joined Takaful Malaysia in 2007 as Group Managing Director. “Having trained in the US and worked in the profession in the right companies, I believe I endowed myself with the right credentials from the start. Furthermore, coming back to Malaysia and working in various life insurance companies have given me the necessary exposure and opportunities for advancement,â€? says Hassan Kamil of his success in getting to the top. “I believe in working hard every day. My success is a product of ceaseless effort: $GKPI QPG QH VJG Ć‚TUV /CNC[U VQ SWCNKH[ as an actuary, and then putting in years of dedicated service, creativity and innovation. I hope I provide the example for the younger generation to emulate,â€? he adds. 4GECNNKPI JKU Ć‚TUV VCUVG QH RTQHGUUKQPCN NKHG JG UC[U p+ TGOGODGT O[ Ć‚TUV DQUU at AIA who was a workaholic. He and I UVC[GF QP KP VJG QHĆ‚EG VKNN VJG YGG JQWTU of the night. Many times we slept on the QHĆ‚EG EQWEJ QPN[ VQ UVCTV YQTM CICKP GCTN[ GRADUAN | 33

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the next morning. We worked weekends and through holidays. Such was his obsession and zest for the job. I guess VJKU TWDDGF QHH QP OG q Hassan Kamil considers himself a selfmotivated entrepreneur. “Every day I get up looking forward to tasks ahead. It is in my DNA and hopefully my enthusiasm rubs off on people. When they see my passion and drive, they follow my lead.” His passion and drive have invariably led to him receiving numerous awards and acclaims. Takaful Malaysia was awarded the Best Performing Stock award at the recent prestigious The Edge Billion Ringgit Club Corporate Awards 2013, VJG ƂTUV GXGT +UNCOKE (KPCPEKCN +PUVKVWVKQP to win such an award. Takaful Malaysia was acclaimed as the Best Takaful Company in Malaysia at the 6th International Takaful Awards held in Cairo. The award was in recognition of the excellence to the Takaful industry. Hassan Kamil has himself been awarded the Jewels of Muslim World Award, in recognition of his contributions to the development of the Islamic economy. He also received the title of The Brand Laureate Transformational Corporate .GCFGT D[ VJG #UKC 2CEKƂE $TCPFU Foundation for his outstanding and iconic leadership. Commenting on young graduates entering the workforce, he says, “Many 34 | GRADUAN

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Many are distracted by money and reward rather than building their skill sets and capabilities for advancement. They need to stop complaining and walk the extra mile.

”

are distracted by money and reward rather than building their skill sets and capabilities for advancement. They need to stop complaining and walk the extra mile. They need to have the right attitude to resolve issues in a positive way for the company, and display this behaviour consistently to earn their promotion to bigger roles and challenges. “The legacy I would like to leave is to instil in them the belief that through hard work, focus and perseverance they can transform the impossible to possible,” he concludes.

! $ # % $ ! ! $ ! # " $ ! $ % ! # $ ! % $ ! ! !

TA K I N G I T F R O M T H E T O P

THE GLOBAL BANKER

ÂˆĂŒÂˆL>˜Ž >Â?>ĂžĂƒÂˆ> " ->˜Â?iiĂ› >˜>Ă›>ĂŒÂˆ Â…>Ăƒ ĂœÂœĂ€ÂŽi` >Ă€ÂœĂ•Â˜` ĂŒÂ…i ĂœÂœĂ€Â?` ˆ˜ ĂƒÂœÂ“i Âœv ĂŒÂ…i LiĂƒĂŒ L>Â˜ÂŽĂƒ° i ĂŒiÂ?Â?Ăƒ ĂžÂœĂ•Â˜} }Ă€>`Ă•>ĂŒiĂƒ ĂŒÂœ i“LĂ€>Vi ĂŒÂ…i Â?i>Ă€Â˜ÂˆÂ˜} iĂ?ÂŤiĂ€Âˆi˜Vi >Ăƒ ĂŒÂ…iĂž Â?ÂœĂ•Ă€Â˜iĂž ĂŒÂ…Ă€ÂœĂ•}Â… ĂŒÂ…iÂˆĂ€ V>Ă€iiĂ€° by Elaine Tan

A

native of New Delhi, India, Sanjeev Nanavati decided early on that he wanted an international career to learn about the world and people. “I knew the only way I could personally travel and see the world was via education and my chosen career path,� says the CEO of Citibank Malaysia. After graduating from Shri Ram College 36 | GRADUAN

of Commerce in New Delhi, he managed to secure a partial scholarship to pursue an MBA in Finance at Syracuse University KP 0GY ;QTM +P JKU UGEQPF [GCT JG received a teaching assistant scholarship from the university and saw himself through his studies. p/[ GFWECVKQP SWCNKĆ‚ECVKQP CPF RTKOCTKN[ KPVGTGUV KP DCPMKPI CPF Ć‚PCPEG steered me to work with some of the

Take on a challenge that the rest QH [QWT RGGTU Ć‚PF WPCRRGCNKPI HQT whatever reason, take ownership of this challenge, tackle it, and stand out.

foremost banks in the global banking industry. I enjoy being exposed to a variety of businesses, and my career in banking has made this possible,� shares Sanjeev. It also allowed him to realise his dream of working around the world. For most of his career, Sanjeev worked outside of India – his work taking him to every country in Asia, a large part of Europe, and also Latin America. “I started at the Bank of Boston (now Bank of America), working in credit mergers and acquisitions (M&A) and capital markets. I was with the bank for 12 years, working in the United States covering Latin America and Hong Kong, covering Asia. “Then, I returned to India and took up the position as head of corporate and investment banking for six years at Standard Chartered Bank. In July 2001, I joined the Citigroup depository receipt services management team and strategically repositioned the business,� he shares. Before moving to Malaysia, Sanjeev rose to the position of managing director and global head of Citigroup depository TGEGKRV UGTXKEGU DCUGF KP 0GY ;QTM CPF Hong Kong, responsible for all aspects of the American depositary receipt/

�

global depositary receipt product offering globally. “My product experience extends across debt and equity capital markets, M&A and advisory, lending, cash management and trade, securities services, and more recently consumer banking (retail banking and credit cards),â€? he says. Sanjeev moved to Malaysia as Citibank’s country head for the institutional clients group in 2005, and in October 2007, he took over as chief executive QHĆ‚EGT QH %KVKDCPM /CNC[UKC #U %'1 he is responsible for the bank’s retail banking, credit cards, corporate banking, transaction services, equities, Ć‚ZGF KPEQOG CPF VTGCUWT[ CEVKXKVKGU KP Malaysia. The experienced banker says he has learned through his career to be prepared by always doing his best in any situation. “Opportunities will come at different times, and you cannot always ‘engineer’ such opportunities directly. Build up a ‘reservoir of credibility’ for yourself via strong performance in your current role. This holds true whether you are a student or a working professional,â€? he explains. Sanjeev also urges young graduates to dare to go against the crowd. “Take on a EJCNNGPIG VJCV VJG TGUV QH [QWT RGGTU Ć‚PF GRADUAN | 37

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There will be peaks and troughs and plateaus when things may appear static; this is all part of the career life cycle.

unappealing for whatever reason, take ownership of this challenge, tackle it, and stand out.” Another important career lesson is to build and maintain good relationships at work by achieving deliverables wherever one is placed, ideally going beyond what is expected. At Citibank, Sanjeev says, the best are developed to become even better; it is the place to be if one wants to go further. “The standards and benchmarks for 38 | GRADUAN

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performance are high. We hire the best we can get, and then we develop them further. Working with the best in the industry raises your game. Our environment demands and brings out exceptional performance.” This is done, not through fancy training programmes as many may assume (“although we do have great classroom training,” says Sanjeev), but mainly – as much as 70 per cent – through on-the-job learning. “Here at Citi, we believe that the quality

At Citi we have appointed successful senior managers to sit on the GCB and One Citi MA panels. The purpose of these MA panels is to regularly review the assignments and supervisors that the bank’s GCB at One Citi MAs get assigned to. Assignments are evaluated based on whether the assignment

FGNKXGTCDNGU JCXG UKIPKĆ‚ECPV KORCEV QP the company, if there are opportunities for meaningful learning for the MA on the assignment, and if the supervisor is a high potential team member and has the capacity to manage high-calibre individuals. Sanjeev concludes by calling on graduates to be patient in their career. “Something that I feel young graduates OC[ Ć‚PF JCTF VQ ITCUR DWV YKNN UVCPF them in good stead, is to remember that there is a rhythm, an ebb and a ĆƒQY VQ ECTGGT UWEEGUU +V KU XGT[ WPNKMGN[ that anyone’s career will always be an upward trajectory – there will be peaks and troughs and plateaus when things may appear static; this is all part of the career life cycle. Recognise this, and take every part of the journey as a learning experience for yourself.â€?

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QH NGCTPKPI KU KPĆƒWGPEGF GSWCNN[ D[ VJG quality of the job assignment and the quality of the supervising manager,â€? Sanjeev explains. “There is a tremendous amount of commitment from the company on getting these two aspects correct when developing young talent in our Global Consumer Banking Management Associate (GCB MA) programme for undergraduates and One Citi Management Associate (One Citi MA) programme for postgraduates (or undergraduates with minimum two years of working experience).â€?

DRIVING THE CAPITAL MARKET Build a dynamic and exciting career in the capital market at the forefront of industry with the Securities Commission Malaysia.

The Malaysian capital market has grown steadily over the past years. From RM717.5 billion in 2000, it has now recorded a size of RM2.7 trillion as at December 2013, registering an annual growth rate of 11 per cent. This steady growth was achieved through rapid industry expansion and strong regulatory oversight that underpinned investor EQPĆ‚FGPEG KP VJG ECRKVCN OCTMGV At the core of this is the Securities Commission Malaysia (SC), which has the mandate to: r 'PUWTG KPXGUVQT RTQVGEVKQP r 'PUWTG HCKT GHĆ‚EKGPV QTFGTN[ CPF transparent markets

40 | GRADUAN

r 4GFWEG U[UVGOKE TKUM Our mission is to advance and protect VJG HCKTPGUU GHĆ‚EKGPE[ UGEWTKV[ CPF transparency of the securities and derivatives markets and to facilitate the orderly development of an innovative and competitive capital market in Malaysia. In line with this, we promote a market that grows with governance, GPEQWTCIG GHĆ‚EKGPV OCTMGV CPF RTQFWEV innovation, as well as facilitate informed investment decisions. The SC also continuously reviews and augments the regulatory framework to OGGV VJG Ć‚PCPEKPI CPF KPXGUVOGPV PGGFU of market participants and ensure that the Malaysian capital market remains competitive.

Why build your career at the Securities Commission?

r ;QW YKNN DG CDNG VQ EQPVTKDWVG VQYCTFU building an internationally competitive OCTMGV VJCV YKNN VTCPUHQTO VJG ƂPCPEKCN industry. r 9G VCMG ITGCV RTKFG KP FGXGNQRKPI nurturing and equipping our people through programmes like the Graduate Management Executive Programme (GMEP). r 1WT RGQRNG CTG IKXGP CORNG opportunities to hone their skills through SC’s active regulation and supervision of the capital market, in addition to its enforcement of laws that help to ensure a secure and even RNC[KPI ƂGNF HQT CNN KPXGUVQTU

What the Securities Commission does

r 5WRGTXKUKPI GZEJCPIGU ENGCTKPI houses and central depositories r 4GIKUVGTKPI CWVJQTKV[ HQT RTQURGEVWUGU of corporations other than unlisted recreational clubs r #RRTQXKPI CWVJQTKV[ HQT EQTRQTCVG bond issues r 4GIWNCVKPI CNN OCVVGTU TGNCVKPI VQ securities and derivatives contracts r 4GIWNCVKPI VJG VCMG QXGT CPF OGTIGTU of companies r 4GIWNCVKPI CNN OCVVGTU TGNCVKPI VQ WPKV trust schemes r .KEGPUKPI CPF UWRGTXKUKPI CNN NKEGPUGF persons r 'PEQWTCIKPI UGNH TGIWNCVKQP r 'PUWTKPI RTQRGT EQPFWEV QH OCTMGV institutions and licensed persons

The Malaysian capital market at a glance RM2.7 trillion

size of the capital market (2013)

11%

annual growth rate of the capital market (2000 to 2013)

RM8 billion

was raised from the listing of 17 companies on the equity market (2013)

RM86 billion

raised through the bond market (2013)

RM335.5 billion

Total net asset value (NAV) in unit trust industry (2013)

62.9%

of the global sukuk outstanding is issued in Malaysia (2013)

RM1,029.6 billion

Market capitalisation of Shariahcompliant securities listed on Bursa Malaysia (2013)

TA K I N G I T F R O M T H E T O P

FOCUSED ON SUCCESS

,> > /i > Õ > ½Ã V>ÀiiÀ «>Ì Ì Ì i « >V i v Ì i V À« À>Ìi Ü À ` ëi> à v Ûi Ì Ûi iÃÃ] VÀi>Ì Û ÌÞ > ` LÛ Õà Ìi >V ÌÞ Ì iÝVi ] Ài}>À` iÃà v Ì i Õ Ì ÌÕ`i v À >`L V ð -ÌiÛi `i - Õâ> i>À à v Ì i ÃÌ ÀÞ Li ` Ì i > >} } ÀiVÌ À > ` " v } i } à > V > ½Ã ÕÀ iÞ Ì Ì i Ì «°

T

he Managing Director and CEO of Hong Leong Islamic Bank, Raja Teh Maimunah, embodies the old adage that if you put your mind to it, you can achieve your true potential. Following in her father’s footsteps, she

42 | GRADUAN

studied law in the University of East London, but had doubts she would excel as a practising lawyer. So after graduation, she joined KPMG in London s CPF NCVGT VJG /CNC[UKCP QHƂEG s KP VJG EQTRQTCVG ƂPCPEG FKXKUKQP p$WV

certainly doing law was the right base SWCNKĆ‚ECVKQP VQ HWTVJGT O[ ECTGGT RCVJ KP VJG Ć‚PCPEG KPFWUVT[ q UJG CFFU From KPMG, she moved to Commerce International, where she threw herself into the demanding lifestyle of an investment banker. “Prospectus artworks were manually type set. All documents had to be proofread repeatedly. The process was time consuming and laborious. Staying late was the norm. Husbands would call VJG QHĆ‚EG VQ FGOCPF VJGKT YKXGU TGVWTP JQOG #U VJG UGPKQT OCPCIGT + JCF O[ fair share of having to appease irate husbands,â€? she laughs. 'XGP CHVGT JCXKPI JGT Ć‚TUV EJKNF UJG maintained her break-neck pace, sometimes even bringing her child to work. “I reached a point when I wondered if I should give in, but I persevered and at the end of the day, the team and I had UWEEGUUHWNN[ NKUVGF EQORCPKGU KP C Ć‚XG year period.â€? Her reputation grew; offers poured in. Raja Teh moved from CIMB to Danaharta, returned as associate director of investment banking then left to set up RHB Sakura Merchant Bank as its head of investment banking. “My awakening as a Muslim persuaded me to avoid dealing in usury or

�

speculation, which is a major sin in Islam. I wanted to explore Islamic banking,â€? she recounts. So she moved to Unicorn Investment Bank as director and spent time in the Middle East where she had to contend with a different, more “restrictiveâ€? culture. “I had to enter through the back door while my male colleagues were welcomed at the front. I worked in the presence of men but had to appear to be at a subservient level. But I took this in my stride and learned all there was to know about Islamic jurisprudence and practices, the requirements of Islamic law, and how far I could push without breaking the rules. With this clear understanding, I was able to rationalise CPF TGFGĆ‚PG GZKUVKPI +UNCOKE DCPMKPI practices to make them more marketable in the Islamic as well as conventional banking industries.â€? Raja Teh went on to head Kuwait Finance House in Kuala Lumpur as KVU EJKGH EQTRQTCVG QHĆ‚EGT CPF JGCF of international business before being asked to join Bursa Malaysia to develop new Islamic banking products as global head of Islamic banking. She spearheaded a type of Islamic commodity exchange or Bursa Suq Al5KNC VJG YQTNFoU Ć‚TUV +UNCOKE EQOOQFKV[ platform to facilitate commodity GRADUAN | 43

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I reached a point when I wondered if I should give in, but I persevered and at the end of the day, the team and I had successfully listed 50 companies in a Ć‚XG [GCT RGTKQF

TA K I N G I T F R O M T H E T O P

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I have learned that you will never UWEEGGF KH [QW CTG UGNĆ‚UJ ;QW JCXG to know your most valuable place in the team and then play that role as best as you can.

“ÕÀ>L>Â…>° “Many dismissed it as a foolish attempt, saying no one would subscribe to a regulated electronic commodity murabaha. As this was the Ć‚TUV CVVGORV QH KVU MKPF YG EQWNF PQV tell if our idea would be well received. In addition, we wanted to introduce a regulated framework for commodity murabaha transactions and promote transparency and syariah policing to enhance the integrity of the industry,â€? she explains. Against all odds, they succeeded in procuring some of the world’s biggest and most conservative Islamic banks in the Gulf Cooperation Council as 44 | GRADUAN

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members of Bursa Suq Al-Sila. Today the Exchange handles billions in US dollar transactions. Having achieved so much in her career, Raja Teh has much to offer in terms of advice to young graduates. “Life is not a bed of roses; corporate life is even less so. I have perhaps made mine more FKHĆ‚EWNV D[ RWVVKPI NCTIGT FGOCPFU on myself. I never created excuses for myself or submitted to self-doubt. When things went wrong, as they inevitably do, I resisted the temptation to blame others. I was accountable for the paths I took so it was up to me to repair and make good,â€? she says. “I also had three

Raja Teh spoke frankly about the inability of many young graduates to face up to the demands of employers. p/CP[ LWUV HCKN CV VJG XGT[ Ć‚TUV JWTFNG The job interview is where you must articulate your strengths properly to a prospective employer. Many are still oblivious to what employers look for in candidates, over and above paper SWCNKĆ‚ECVKQPU q UJG NCOGPVU Being able to engage the interviewer in an open conversation that highlights competencies and more importantly personality and drive are critical elements in employability, according to VJKU F[PCOKE EQTRQTCVG Ć‚IWTG 5JG NQQMU for boldness, daring to try something new, assertiveness, invention, creativity, and adventurous spirit in candidates. “Their emotional quotient is as critical as their intelligence quotient in landing the job,â€? she stresses. The ability to play as part of a team is also important. “Many think they have sole right to the leadership role; that’s arrogant. I have learned that you will

“

Life is not a bed of roses; corporate life is even less so.

�

PGXGT UWEEGGF KH [QW CTG UGNĆ‚UJ ;QW JCXG to know your most valuable place in the team and then play that role as best as you can. When there is a good consensus and a clear mandate from members, the team will be much more motivated and perform more effectively,â€? she advises. If ever there is a way to outdo one’s self, it’s reading voraciously, says Raja Teh. “Read about ordinary people who, through their inventiveness and convictions, are today’s icons. Bill Gates, Mark Zuckerberg, and many others were gifted with self-belief and burning ambition to push their invention from their school days. One’s passion and resolution are the key drivers to success. I hold those qualities to be the key ingredients in how a person will push himself. Plus, of course a strong value set to stay true to the course,â€? she concludes.

GRADUAN | 45

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children to raise along the way in a still male-dominated world. I was vulnerable but never gave up on my dreams.�

TA K I N G I T F R O M T H E T O P

THE BANKER

>ĂŒÂœ½ -Ă€Âˆ <Ă•ÂŽĂ€Âˆ ->“>ĂŒ Â…>Ăƒ ĂŒ>ÂŽi˜ L>˜Žˆ˜} ĂŒÂœ > ĂœÂ…ÂœÂ?i ˜iĂœ Â?iĂ›iÂ?° ,Ć‚ 1Ć‚ ĂƒÂŤi>ÂŽĂƒ ĂŒÂœ …ˆ“ >LÂœĂ•ĂŒ ĂŒÂ…i ĂƒiVĂ€iĂŒ Âœv Â…ÂˆĂƒ ĂƒĂ•VViĂƒĂƒ°

ÂŽ

by Lauren Ling

H

e has always had his heart set on banking as a career, and Dato’ Sri Zukri Samat started his path straight out of university with Bank Bumiputra Malaysia Berhad. Now the Managing Director of Bank Islam Malaysia Berhad, he charted a steady course in various positions with many notable banks over the years – Public 46 | GRADUAN

Bank Berhad, CIMB, Credit Agricole, and Pengurusan Danaharta Nasional Berhad. +V YCU VJCV Ć‚PCN UVKPV VJCV ICXG JKO his big break. “Danaharta was a debt resolution agency set up as a preemptive measure by the government to avert a failure in the banking system FWTKPI VJG #UKCP Ć‚PCPEKCN

In life, there is no shortcut to success. The old adage still applies – if something is too good to be true, then it probably is.

�

crisis. It was a critical component to the national agenda in managing the crisis to ensure Malaysia was out of the woods. Danaharta acquired approximately RM58 billion of non-performing loans from the banking system. In 2005, we managed to close the book with 58 per cent recovery rate. (The initial cost estimate D[ +/( HQT ƂPCPEKCN KPUVKVWVKQP ENGCP WR was 18 per cent of GDP but our actual cost was only three per cent of GDP). World Bank acknowledged our efforts and documented our achievements in their periodical issue that year. As the NCUV /& OCPCIKPI C ƂPKVG QTICPKUCVKQP Danaharta has indeed provided me with an invaluable experience,� he says with pride.

we managed to make a remarkable turnaround and steer the bank back to RTQĆ‚VCDKNKV[ KP LWUV OQPVJU q JG UC[U

Cutting his teeth on such an important achievement, he was ready when Bank Islam came knocking on his door. This new role came with its own set of challenges. “Although the challenges YGTG EQPĆ‚PGF VQ VJG $CPM KVUGNH K G due to heavy losses incurred in 2005 and 2006 arising from non-performing Ć‚PCPEKPI HCKNWTG KP JCPFNKPI KV YQWNF have posed a systemic risk to the banking system in general and Islamic banking in particular. I would say that this was one of my lifetime achievements as we managed to avoid a bank run. At that point, crisis management required a lot of endurance on my part to cater for the long, strenuous stakeholders’ engagements and relentless tactical communications. Alhamdulillah,

In hindsight, it may seem like all was planned for this determined man. However, he never received any guidance on his career of choice, having come from a humble background. He HQWPF JKU Ć‚TUV DCPMKPI LQD KP VJG OQUV straightforward way possible, through a LQD CFXGTVKUGOGPV KP C PGYURCRGT *G accounts it a little to fate, a lot to faith, and a degree of serendipity. “Looking back, with everything falling into place, my career path appears to be like the perfect jigsaw puzzle, destined by fate.

To him, hard work is the key to a successful career. His advice to those who want to succeed is to continuously seek knowledge and to not let mistakes prevent one from moving forward. “Challenge yourself or you will never know your potential. I am a strong advocator of thinking out of the box, and I believe that one must always keep an open mind to new ideas to stay ahead of the game. Be a team player. Be street smart. Sometimes it takes more than what is in the books to succeed,� he says.

When I entered the banking industry, it was necessary to acquire the skills and knowledge of all things related to banking. Moving positions (and banks) was therefore imperative for me to GRADUAN | 47

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become competent. The experience I gained in CIMB was different from that of Public Bank, yet they complement each other,â€? he says. Two of his most challenging jobs were Danaharta and Bank Islam. “Nothing comes easy in this world. To reach the top, we are bound to face headwinds CNQPI VJG YC[ 6JG FKHĆ‚EWNV LQWTPG[ I went through with these two organisations has shaped my beliefs and leadership style. One of the hardest things to do would be managing people and particularly overcoming resistance HTQO VJG QTICPKUCVKQP 9JGP + Ć‚TUV VQQM over the helm of Bank Islam, it used to run very much like a public sector company despite being in the private sector. So one can only imagine how tough it was to change the mindset and culture of the organisation. Communication became the most fundamental factor in getting the message acrossâ€?. “One of the things I picked up as a NGCFGT KU VJG RQYGT VQ KPĆƒWGPEG #PF to do that, I need to ‘walk the talk’, supporting what I say, not just with words, but also through action or evidence. For instance, when I joined Bank Islam, we were very careful in managing costs because it was going VJTQWIJ C FKHĆ‚EWNV RGTKQF 9JGP YG had to travel, I did not mind taking the low cost carrier as the mode of transportation. After all, it is important to practise what you preach if you want to be taken seriously,â€? he says. He attributes much of his success to his family, whom he calls his pillar of strength. He is a family man at heart. Whenever time permits, he’ll take time off to spend with his loved ones. He also has many close friends whom he trusts CPF EQPĆ‚FGU KP 48 | GRADUAN

“

Be a team player. Be street smart. Sometimes it takes more than what is in the books to succeed.

�

“In life, there is no shortcut to success. The old adage still applies – if something is too good to be true, then it probably is. What I am saying is we must be willing to strive for what we want and work hard for it. After all, success is sweeter after going through struggles and defeats. Have the courage to stand up and speak your mind,â€? he says. For his legacy, he wants Bank Islam to be a bank everyone can be proud of. “I want Bank Islam’s strong brand equity and franchise value to reach greater heights in the future. I also hope that it will institutionalise some of my credit experience and decision-making process to ease future leaders in determining Ć‚PCN FGEKUKQPU q JG EQPENWFGU

LAUNCH YOUR CAREER

WITH MALAYSIA’S

PIONEER ISLAM ISLAMIC L IC BA BANK

Bank Islam Malaysia Berhad, has set a vision to be a Global Leader in Islamic Banking. In fulfilling our aspiration to be the Employer of Choice, Bank Islam provides a platform for developing Islamic banking professionals and specialists. Aligned with our mission to identify and groom future talents and leaders, the Bank has initiated a special programme - “YOUNG LEADERS PROGRAMME” – a fast–tracked developmental programme which serves as a catalyst for training young professionals at an early juncture of their careers.

THE PROGRAMME:

OUR REQUIREMENTS:

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s

Fresh graduates First Class Bachelors (any fields) with minimum CGPA of 3.70 or ACCA/ CIFP / CFA / CPA holders from a well-recognised university (local / overseas).

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Individuals who demonstrate strong leadership qualities especially those with active participation in leadership roles in school, university or within a community.

s

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Bank Islam’s Young Leaders Programme calls for high performing fresh graduates who are willing to take on challenges with learning as the reward. This programme provides learning and development opportunities that will fully optimise your potential and fulfil your career aspirations. During the 1-year developmental programme, young leaders will undertake a specific project with key deliverables and be assigned to a project supervisor who will guide and enhance your learning experience. Additionally, you will get to participate in a series of formal classroom trainings, structured job rotations and stretched assignments across different business segments.

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Individuals who have excellent communication skills (verbal and written) in both English and Bahasa Malaysia. An added language is an advantage.

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Individuals who possess above-par analytical skills, creativity and other personal strengths.

Selected fresh graduates under this programme will be remunerated with a salary of RM4,000.00 monthly.

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Malaysian citizens.

03-26 900 900 www.bankislam.com.my

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TA K I N G I T F R O M T H E T O P

THE DELICATE BALANCING ACT

/Â…i Ć‚ĂƒĂƒĂ•Ă€>˜Vi i>`iĂ€ Âœv *Ăœ >Â?>ĂžĂƒÂˆ> >Ăƒ ĂœiÂ?Â? >Ăƒ Â“ÂœĂŒÂ…iĂ€ ĂŒÂœ ĂŒĂ€ÂˆÂŤÂ?iĂŒĂƒ] *>Ă•Â?ˆ˜i Âœ ÂŤĂ€ÂœĂ›iĂƒ ĂŒÂ…>ĂŒ ÂˆĂŒ ÂˆĂƒ ÂŤÂœĂƒĂƒÂˆLÂ?i ĂŒÂœ Â…>Ă›i ÂˆĂŒ >Â?Â?° by: Elaine Tan

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pting for a career in accounting was a natural choice for Pauline Ho. An interest in accounting in her secondary school years led to an accounting degree at university and eventually, a career path in PwC Malaysia in 1993. p+V YCUPoV C FKHĆ‚EWNV FGEKUKQP HQT OG $CEM then, it was a natural choice to train with C DKI CEEQWPVKPI Ć‚TO + UVKNN DGNKGXG KVoU a good training ground as it opens up many career options,â€? says Ho, who has DGGP YKVJ VJG Ć‚TO HQT OQTG VJCP [GCTU except for a two-year stint with PwC UK. “As a young auditor, I was given the opportunity to work with different clients and my job kept me on my toes

50 | GRADUAN

– constantly learning and growing. I also enjoyed the network of like-minded peers, with diverse backgrounds and perspectives.â€? Ho rose through the ranks to be a partner CV 2Y% /CNC[UKC CPF KU PQVCDN[ VJG Ć‚TUV HGOCNG #UUWTCPEG NGCFGT QH VJG Ć‚TO 5JG says this success was not so much a result of deliberate planning as a product of hard work and good mentorship. “Throughout my career, I felt that when I was interested in what I was doing, I tend to invest more and hence reaped the rewards. I was prepared to be challenged and to work hard as nothing good comes easy. When things got tough, I learnt to ride it out,â€? she explains.

“I was called in at the last minute as an additional audit assistant to help resolve VJG OCVVGT $QVJ VJG ENKGPV Ć‚PCPEG VGCO and the audit team spent hours trying to reconcile the numbers. I learnt to be patient, work together as a team, and also discovered that my stamina was not only restricted to hanging out late with HTKGPFU + CNUQ DWKNV IQQF TCRRQTV YKVJ the client after this exercise. Needless to say, three days (and nights) later, we OCPCIGF VQ KFGPVKH[ VJG KUUWG Ć‚Z KV CPF reported on time.â€? Ho adds she was also lucky to have sponsors and mentors throughout her career. “There were many people who believed in me and helped push me along the way. Although it may be a IGPGTCNKUCVKQP CU C YQOCP + Ć‚PF KV JCTF to say that I would like the promotion or take on a bigger role because I felt that I was not fully ready. However, O[ URQPUQTU KFGPVKĆ‚GF CPF OCFG opportunities available while mentors provided the support to get there or do better in my role. “There was an incident in which I was asked to take on the assistant manager role to audit an oil and gas conglomerate. I had no prior experience in this industry; however, the partner in charge at that time was a great coach and mentor,â€? she elaborates. “He taught me to be curious about the client’s business and not just audit the numbers. He included me in all the meetings regardless of whether it was with the Ć‚PCPEG GZGEWVKXG QT VJG OCPCIKPI director.â€?

6JKU OGPVQT CNUQ KFGPVKĆ‚GF CP opportunity for Ho to be seconded to London for her personal development. p6JG UKIPKĆ‚ECPEG QH JKO CPF JKU guidance play a big part in my success today,â€? she says. She also credits good teams and a supportive family, especially her husband and in-laws, for helping her get to where she is today. Outside of work, Ho says she is “simply the mother of active triplets. I relish time with them and take full advantage of technological advances to stay connected with them even while I’m travelling for work. Both my husband and I love to travel. So planning for the next holiday is always on the home agenda.â€? Having made it to the pinnacle of her chosen career path, Ho says she would like to leave a legacy for young female talents in the professional services sector where there is a third way when it comes to balancing career and family commitments. “It doesn’t have to be an all or nothing choice between the two. I want to do my part by helping to create more options for young women when it comes to managing career and family. We’ve kickstarted a few initiatives in PwC to help VJGO YKVJ ĆƒGZKDNG YQTMKPI CTTCPIGOGPVU and a formal Back2work programme.â€? On her life and work philosophies, she says she has been guided by the belief that, “Good things don’t come easy. Enjoy what you do. I understand the need to invest time and effort to gain the rewards in life. I waited for a long time before I was blessed with my beautiful children and they were well worth the wait. I also found that enjoying my work has made it easier to get through the rough patches.â€? GRADUAN | 51

TA K I N G I T F R O M T H E T O P

She shares as an example a particular engagement in which the client had just KORNGOGPVGF C PGY ƂPCPEKCN TGRQTVKPI system with a very tight closing deadline and a trial balance that didn’t tally.

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CAREER OPPORTUNITIES ACCOUNTING BANKING CAPITAL MARKET RISK MANAGEMENT SHARED SERVICES

GRADUAN | 53

MAYBANK THE PLACE TO BE FOR GEN Ys Maybank goes all out to win over this generation of young talents with programmes that cater to meaningful career and personal development. Erwan, recepient of Young Maybanker Award 2012

Generation Y (Gen Y) has attracted a lot of interest from many Human Resource researchers. Much has been written about this generation’s behaviour, thought process and general approach towards their careers as compared to their predecessors, Gen X and the Baby Boomers. Their different values and approach towards work have confounded, challenged and attracted organisations. At Maybank, we are no stranger to managing a diverse workforce in general, and the Gen Y staff in particular. 30 percent of our workforce is from this generation; this figure has more than doubled since 2008. We recruit over 1,000 graduates each year through our six main entry level pipeline programme, which create a strong workforce and talent succession plan for all roles across our organisation. Recognising that Gen Ys want high quality work, better use of their skills and greater work flexibility, Maybank has responded by focusing on individual career aspirations through customised development programmes. Our enhanced talent management framework ensures that potential talents are placed in the right jobs and provides high visibility across the Group via our multi-level talent review platforms, ranging from sectorial levels to the Group level chaired by our President & CEO (PCEO). To accelerate the development of our Gen Y employees to managerial level, we have our signature home-grown Maybank Great Executive Suite that offers a variety of leadership learning programmes. We also recently launched the High Potential - Performer Integrated Programme (HIP) a targeted development programme to accelerate high potential employees to leadership roles.

On top of these structured programmes, we offer multiple platforms to groom our young talents. These include online and experiential learning following the 70:20:10 learning philosophy – 70% based on experiential learning, 20% relationship based learning and 10% on classroom learning. Gen Ys in Maybank also get to engage with our top leaders through our Leaders Teaching Leaders Programme, Conversation with Chairman, Breakfast with PCEO and mentoring from senior management. In addition, they gain invaluable experiences through participation in Group wide projects and international assignments across the region. For personal and professional growth, we offer the Staff Education Assistance scheme which aims to assist and equip our people with the required qualifications and expertise. The scheme allows them to pursue higher education degrees and professional certifications. We appreciate that Gen Ys want work-life balance so we provide fitness facilities; wellness programmes; educational talks on safety at work, health and safe driving, among others; lifestyle workshops such as good parenting workshops; sports engagements; and many other opportunities for fun and fostering unity among Maybankers. For the socially aware and those with a strong volunteerism spirit, Maybank offers the opportunity to make an impact in the region. In line with our humanising financial services across Asia mission statement, we have embarked on various Corporate Responsibility initiatives. Maybankers are given the latitude to decide

on sustainable initiatives that they will be volunteering their time year on year to create a meaningful difference in the communities we serve. GO Ahead. Grow with us. Mohd Erwan Sani, recipient of the Young Maybanker Award 2012, shares what it is like being a Gen-Yer in Maybank. The Young Maybanker Award aims to celebrate high achieving Maybankers under the age of 30 across the region. Debuting in 2012, the first recipient of this award is Mohd Erwan Sani, a Chemistry graduate from Universiti Putra Malaysia (UPM). This is the second award from Maybank for the 26-year old, who has been an employee at the bank for close to four years. His first award was a Maybank Scholarship Award to pursue his studies at UPM. “Maybank has been a part of my life for as long as I can remember. My father was a Maybanker so you could say I grew up with the bank,” says Erwan. Erwan is currently a senior executive in charge of business strategy for Global Banking (GB). “My key role is to focus on strategic planning for Maybank Asset Management, Maybank Kim Eng, Global Markets and Corporate Banking. I also plan the annual budget and annual reporting for GB in addition to acting as secretariat and liaison person between GB and the lines of business.” What is your biggest achievement in Maybank so far? I would say winning the Young Maybanker Award 2012 and GB’s Best Executive Award 2012. It’s the ultimate honour and I am thankful for the support from my head of department and colleagues. As a science graduate, I had steep learning curve coming into this industry. I started from zero and thanks to lots of coaching from Puan Khalijah Ismail, the head of Finance and Business Operations, I managed to become a more competent and confident person. How has winning Young Maybanker of the Year impacted your life? It’s been great and I am more motivated than ever. Naturally, winning such a massive award would lead to higher expectations from the management and my colleagues; I need to work harder to go beyond my current level of performance. I am also aware that other young Maybankers look up to me now. I want to be a role model and show them that the sky is the limit when it comes to achieving their aspirations.

How would you describe the culture of Maybank? I love the Maybank culture! There’s a sense of belonging shared by all Maybankers around the globe. Our humanising mission is well ingrained in all Maybankers and it has positively transformed the way we work and interact with each other. This has resulted in what I call “Maybank-hood” or a spirit of togetherness. I would definitely credit our T.IG.E.R. core values (Teamwork, Integrity, Growth, Excellence & Efficiency, Relationship Building) for this excellent working culture. Why is Maybank a good place for career growth? I truly believe that an organisation that invests in its people will automatically inspire them to pursue excellence. Maybank is definitely such an organisation. It is the perfect place for those who want to grow professionally and personally. Throughout my tenure at Maybank, I have had the chance to attend countless training sessions to enhance my technical skills, soft skills and accelerated my leadership readiness through programmes such as Maybank Great Executive (MGE) and High Potential - Performer Integrated Programme (HIP). In addition, I also had the privilege to attend engagement sessions with the Group EXCO and Chairman. Is Maybank a Gen-Y employer? Yes definitely! We won the Graduan Aspire survey as the number one preferred employer in 2012, and we also emerged victorious in the m100 leading graduates survey where we topped the list in the Banking and Financial Services category. The Bank is committed to winning the younger generation and has managed to attract more of the young. 30 percent of our employees are now from the Gen-Y group. What is your advice to other Gen-Yers? We are the leaders of the next generation. We must firstly have a strong character. In whatever we do, we must strive to be the best and work hard to bring ourselves and the organisation to the next level. When I was doing my practical training in a branch in Johor, I was scolded by a customer. My branch manger comforted me with this saying, “Attitude determines your latitude.” I took this to hear and developed it into a personal mantra – E + R = O, that is, Event + Response determines your Output. Ultimately, it is not about how you start but how you complete the journey. We all have different starts – you may lack knowledge, skills or experience – but we should strive to grow and develop. Hold strong to the belief that hard work will definitely lead you to somewhere good in life.

Live. Learn. Discover. Achieve. Have Fun At KPMG, we know how you LIVE is as important as how you work. Grow With Us At KPMG, you will never stop LEARNING. Explore A Career Without Boundaries At KPMG, you are encouraged to DISCOVER new horizons and perspectives. Be Ambitious At KPMG, opportunities to ACHIEVE your goals abound. Challenge yourself to be the best that you can be. Apply today at kpmg.com.my/careers.

56 | GRADUAN

ACCOUNTING By All Accounts Accounting: Career Features

GRADUAN | 57

ACCOUNTING

BY ALL

ACCOUNTS ƂVV Õ Ì> Ìà >Ài vÌi «> Ìi` >à ÃÌ V] ivÌ LÀ> i` }i ÕÃiÃ Ü Þ Ü Ü Ì VÀÕ V Õ LiÀð Ì Ã Ì i Û LÀ> Ì > ` iÝV Ì } w > V > Ü À `] Ü iÀi Ì i Ã Þ Ã Ì i Ì° by Lauren Ling

58 | GRADUAN

This is also its blessing and its curse. A lot of people misunderstand the profession, VJKPMKPI KV KU TGIKOGPVGF CPF DQTKPI ;GU it is regimented, it has to be, because the Ć‚PCPEGU QH VJG YJQNG DWUKPGUU YQTNF KU CV stake. But it is never boring. We show you just how vibrant the profession really is with these exciting jobs.

TAX ACCOUNTANT

Taxes are like death – they’re unavoidable. So imagine how lucrative a career it is for a tax specialist. As a tax accountant, you are well versed in the taxation system of your country. If you deal with international clients, you will also know the taxation systems of different countries CTQWPF VJG YQTNF ;QW EQWNF DG YQTMKPI HQT CP CEEQWPVKPI ƂTO CU C RWDNKE VCZ accountant, or for a corporation as a corporate accountant. People usually start off as the former, which is a great training ground for you are exposed to a whole range of clients. As the latter, you will be responsible for the tax structure of your organisation, and your role is instrumental in innovative tax structures that could potentially save your corporation a lot of money.

TRANSFER ACCOUNT SPECIALIST This is an exciting job. Transfer pricing means determining an arms-length price HQT KPVGT EQORCP[ VTCPUCEVKQPU ;QWT LQD

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A lot of people misunderstand the profession, thinking it is regimented and boring. Yes, it is regimented, it has to be, because the Ć‚PCPEGU QH VJG whole business world is at stake. But it is never boring.

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YKNN DG YKVJ C RWDNKE CEEQWPVKPI ƂTO QT C OWNVKPCVKQPCN ;QW YKNN DG RCTV QH VJG team that determines the pricing policies between interrelated companies. To do this, you will need tax and accounting knowledge in the respective countries that the multinationals deal in. How’s that for making million-dollar transnational FGCNU!

CHIEF FINANCIAL OFFICER

The CFO is right up there with the CEO. A CFO is the top money guy in any EQORCP[ *G UGVU CNN Ć‚PCPEKCN RQNKEKGU QH C EQORCP[ CPF QXGTUGGU CNN Ć‚PCPEKCN activities. He signs cheques, monitors ECUJ ĆƒQYU CPF KU KP EJCTIG QH Ć‚PCPEKCN planning for the whole corporation. To get to that level, you would probably have worked your dues at a public accounting Ć‚TO IQVVGP EGTVKĆ‚GF CPF YQTMGF C few years as a corporate accountant or GRADUAN | 59

ACCOUNTING

F

irst there was the Big Eight, then it got down to six, and now it’s the Big (QWT s &GNQKVVG 2Y% 'TPUV ;QWPI and KPMG. To belong to these four bigwigs is like membership to an exclusive club. They are the training ground for exemplary talents, with many of their alumni going into big corporations in equally big positions. It is one of the few professions in the world that has so successfully streamlined its processes to be universally acceptable and adopted.

ACCOUNTING

Ć‚PCPEKCN EQPVTQNNGT +V KU PQV CP GCU[ LQD VQ do but the rewards are usually lucrative, especially in the form of a big paycheck every month.

FINANCIAL CONTROLLER

One level down from the CFO is VJG ƂPCPEKCN EQPVTQNNGT ;QW QXGTUGG the accounting operations and the RTGRCTCVKQP QH RTQƂV CPF NQUU UVCVGOGPVU balance sheets and analyses of future GCTPKPIU CPF GZRGPUGU ;QW YQWNF JCXG set up the company’s control systems, or if not, you are responsible for evaluating and maintaining or changing it to suit [QWT EQTRQTCVKQPoU PGGFU ;QW YKNN CNUQ JGNR UVTCVGIKUG VJG ƂPCPEKCN ITQYVJ QH VJG company. 60 | GRADUAN

CORPORATE ACCOUNTANT

(TQO C RWDNKE CEEQWPVKPI ƂTO C NQV QH people move into corporate accounting. As a corporate accountant, you are in charge of your company’s set of accounts and all the relevant reporting requirements. This position allows you to gain an overview of the business very quickly, while giving you control over GXGT[ ƂPCPEKCN FGVCKN ;QW CTG TGURQPUKDNG HQT EJCTVKPI VJG ƂPCPEKCN RCVJ QH [QWT company, which is a responsibility not to be taken lightly.

HEDGE FUND ACCOUNTANT

Away from the traditional roles of accountants above, a hedge fund accountant has his feet in both the capital

ACCOUNTING CPF CEEQWPVKPI YQTNF ;QWoTG PQV QWV there actively managing hedge funds, but you are still very much involved in how VJG JGFIG HWPF KU OCPCIGF ;QW OCPCIG and process total asset-value calculations for hedge fund investors, meaning you crunch the numbers and help the OCPCIGTU OCMG UGPUG QH VJG Ć‚PCPEKCN implications of their decisions.

FINANCIAL ANALYST

The good thing about accountancy is how ĆƒGZKDNG KV KU ;QW ECP FKR [QWT HGGV KP VJG ECRKVCN OCTMGV CU C Ć‚PCPEKCN CPCN[UV 9KVJ the knowledge and training you have, [QW CTG VJG RGTHGEV ECPFKFCVG HQT KV ;QW analyse anything to do with stocks, bonds, Ć‚PCPEKCN QRVKQPU CXCKNCDNG VQ KPXGUVQTU CPF

OQTG ;QW CTG VJG MG[ RGTUQP FKTGEVKPI C EQORCP[oU KPXGUVOGPV UVTCVGI[ ;QW will assess the company’s economic performance and handle budgeting, HQTGECUVKPI Ć‚PCPEKCN OQFGNNKPI CPF ECUJ ĆƒQY CU EQORCPKGU ITQY

LECTURER

;QW ECP IQ KPVQ CECFGOKC CV VJG DGIKPPKPI of your career, or at the tail end of it. If you choose the former, you will be dedicating your life to research and planning, and EQOKPI WR YKVJ VJGQTGVKECN Ć‚PCPEKCN models that could be adopted in the real business world. If you choose the latter, CHVGT C HWNĆ‚NNKPI ECTGGT KP CEEQWPVKPI practice, you will bring with you a wealth of experience and real world knowledge. GRADUAN | 61

ACCOUNTING

THE FAST TRACK

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Ć‚ ¾Õ>Â?ˆwV>ĂŒÂˆÂœÂ˜ Ăœ>Ăƒ ĂŒÂ…i LiĂƒĂŒ `iVÂˆĂƒÂˆÂœÂ˜ vÂœĂ€ Â…ÂˆĂƒ V>Ă€iiĂ€° *Â?Ă•Ăƒ] > Ă•ĂƒivĂ•Â? ĂŒÂˆÂŤ vÂœĂ€ ĂœÂœĂ€ÂŽÂ‡Â?ˆvi L>Â?>˜Vi°

NAME Tan Ming De, 29 QUALIFICATIONS ACCA DESIGNATION Manager, Audit and Assurance COMPANY KPMG Describe your job portfolio. I’m in audit and assurance. This involves the usual statutory year-end audit as well as some special assurance work like reporting accountant NGVVGTU TGXKGY QH RTQ HQTOC ƂPCPEKCN statements for potential acquisitions or IPOs (initial public offering).

cloud and hybrid storage solution companies. My time there was by far the most enriching experience.

How did you get into this industry? I was a science stream student right up to my A-levels. After that, I decided to switch to accounting after doing some research and realising that ACCA provided the fastest option for me to secure a good job and career. +oXG PGXGT NQQMGF DCEM UKPEG

What key lessons have you learned? Life in the industry is infamous for its YQTM NKHG DCNCPEG QT RGTJCRU KODCNCPEG 6JGTG CTG FGĆ‚PKVGN[ RGCM CPF QHH RGCM RGTKQFU DWV + Ć‚TON[ DGNKGXG KP the saying, “Nothing is ours except time.â€? From my years with KPMG Malaysia and in London, I realise that YG CTG UQOGVKOGU VQQ KPGHĆ‚EKGPV YKVJ long lunch breaks, smoking breaks, tea breaks, and so forth. We just need to prioritise and manage our time to enjoy a healthy work-life balance.

What is the most exciting part of your job? I was sent to KPMG London for a two-year secondment. Whilst there, I was assigned to the technology audit department and was involved in various technology client ranging from IT retail, IT infrastructure, to dedicated,

Any advice for fresh graduates? For a fresh graduate, generally technical competence only comes second to having a positive and enthusiastic mind, able to persevere and dedication to the job. In addition, leadership skills and possessing good common sense CTG DGPGĆ‚EKCN HQT QPGoU ECTGGT

62 | GRADUAN

Ć‚ ĂžÂœĂ•Â˜} ĂŒ>Â?iÂ˜ĂŒ ĂƒÂ…>Ă€iĂƒ ĂœÂ…Ăž ĂƒÂ…i ˜iĂ›iĂ€ ĂƒĂŒÂœÂŤĂƒ Â?i>Ă€Â˜ÂˆÂ˜} œ˜ ĂŒÂ…i Â?ÂœL°

NAME .[FKC 0I :KP ;K QUALIFICATIONS Bachelor of Commerce (Accounting and Finance), University of Auckland DESIGNATION Senior 1, Assurance Services COMPANY '; What is the most exciting part of your job? The most exciting part of my job is meeting and working with people from different backgrounds. It is interesting to observe how the working culture differs from one organisation to the next. The job also provides me with constant opportunities to learn and to develop myself as an individual. There is a lot to learn and even after a few years, there are still new things I pick up about the job. What have you learned as a professional and individual? ;QW PGGF VQ DG RTQCEVKXG KP OCPCIKPI your own career and creating opportunities for yourself to develop as an individual. However, there is more to work than just technical knowledge. I have learnt the importance of soft skills including managing people – juniors, managers, partners and clients – and being a good team player. The success of each job does not depend on a single individual but rather the effort of the entire team.

What are misconceptions about this industry? Prior to joining audit, I thought that the long working hours would make it FKHĆ‚EWNV VQ OCKPVCKP C FGEGPV YQTM NKHG DCNCPEG *QYGXGT JCXKPI YQTMGF KP '; HQT C HGY [GCTU PQY + UVKNN Ć‚PF O[UGNH YKVJ spare time to do the things I love and to be with my friends and family. The work can be quite overwhelming at times, but when faced with challenges, I remind myself to focus on the positive things I like about work rather than the negative. +V CNUQ JGNRU VJCV '; JCU CUUKIPGF OG a counsellor whom I can turn to for advice and guidance in my career. What should fresh graduates expect about life in this industry? The job is challenging and they need to pick things up fairly quickly. There are ample learning opportunities that help to develop us professionally and personally. There are also times when long hours are required, but we work as a team, and there are many people we can turn to for help, including peers, seniors, managers and counsellors. GRADUAN | 63

ACCOUNTING

A NEW LEARNING EXPERIENCE EVERY DAY

ACCOUNTING

HARD WORK PAYS OFF "Ă•Ă€ ĂŒ>Â?iÂ˜ĂŒ ĂŒiÂ?Â?Ăƒ Ă•Ăƒ Â…ÂœĂœ Â…ÂˆĂƒ ivvÂœĂ€ĂŒĂƒ Vœ“i ˆ˜ Â…>˜`Ăž vÂœĂ€ Â…ÂˆĂƒ V>Ă€iiĂ€°

NAME Levinash Ravindran, 22 QUALIFICATIONS #HƂNKCVG #UUQEKCVKQP QH %JCTVGTGF %GTVKƂGF Accountants (ACCA) DESIGNATION Senior Associate Consultant COMPANY PwC Describe your job portfolio. I am a Goods and Services Tax (GST) consultant. I am assisting some of the country’s top corporations in making their revolutionary leap towards GST. How did you impress at the interview? I practised my interview elevator pitch like a mantra. Five minutes in, that pitch took a back seat and trying to understand the nature of the job from the interviewer’s viewpoint became more important. Be yourself; your interviewers are human too. What is the most exciting part of your job? With GST projects, we are granted access to the people and information within the client entity. There is often a wealth of information not intended for the eyes of VJG RWDNKE + ƂPF JCXKPI C UPGCM RGGM QH our client’s new products and services YJKNG VJG[ CTG UVKNN JKIJN[ EQPƂFGPVKCN very exciting. This information is never divulged but it’s interesting to know what 64 | GRADUAN

happens behind the veil of these massive corporations. What should fresh graduates expect about life in this industry? There is no easy way out. As a consultant, you need to be constantly on your toes. There is no slack when your clients depend on you to have updated KPHQTOCVKQP CV [QWT ƂPIGTVKRU +V KU [QWT duty to be informed. Clients cannot take you seriously if you hesitate when unsure. How can young executives succeed in this industry? It is important for potential entrants to take ownership of their roles and responsibilities. The client’s requirements and issues must be given priority. However, this cannot be at the expense of VJG ƂTOoU TGRWVCVKQP CPF WRJQNFKPI [QWT own professionalism. It is a balancing act of sorts, but at the end of the day, you have to pay your dues in order to climb up the professional ladder.

Ć‚ ĂŒ>Â?iÂ˜ĂŒ ĂƒÂ…>Ă€iĂƒ ĂœÂ…>ĂŒ ĂƒÂ…i½Ăƒ Â?i>Ă€Â˜ĂŒ vĂ€ÂœÂ“ Â…iĂ€ V>Ă€iiĂ€ >˜` ĂœÂ…Ăž ÂˆĂŒ½Ăƒ ÂˆÂ˜Ă›>Â?Ă•>LÂ?i°

NAME 1P $GG ;GG QUALIFICATIONS ACCA DESIGNATION Tax Manager COMPANY BDO Tax Services Sdn Bhd Describe your job portfolio. I am a tax manager with BDO Malaysia. I am involved in mainly tax compliance work for individuals (both local and expatriates) as well as corporate clients. In addition, I have also been given the opportunity to be involved in various tax advisory and tax audit assignments. My core scope of work involves the review of tax computations, correspondences, and monitoring VCZ Ć‚NKPI FGCFNKPGU /[ ENKGPV RQTVHQNKQ ranges from manufacturing and trading to construction, property development, investment holding, as well as consultancy services and multinational corporations. What have you learned as a professional and individual? I have developed and cultivated many good characteristics, namely to think analytically and provide solutions that CTG EQORTGJGPUKXG CPF Ć‚VVKPI VQ VJG ENKGPVoU PGGFU VQ DG OQTG EQPĆ‚FGPV and to display strong leadership skills. I believe these lessons have done wonders too in building my personal brand and aiding me to pursue bigger goals in life.

What should fresh graduates expect about life in this industry? The transition from school-to-work life presents a big challenge, especially to fresh graduates. The working world is most often about meeting deadlines, being less tolerant of mistakes, and being consistently effective at your work. Therefore, fresh graduates should learn to embrace this change. It’s OK to ask questions in order to understand and tackle matters at hand. Determination, hard work, and gaining support from your colleagues help tremendously too. How can fresh graduates get ahead and succeed in this industry? Have an ambition in life and work VQYCTFU KV ;QW OWUV CNUQ JCXG C RCUUKQP for your work to ensure long-term career success. Keep calm, understand the situation, and be positive when faced with challenges. Know your limitations but always be willing to break through your boundaries. Appreciate every lesson learnt along the way and grab every opportunity that comes, and this will help you build a solid foundation and lead you towards a successful career. GRADUAN | 65

ACCOUNTING

A SOLID FOUNDATION

ACCOUNTING

STAR CONSULTANT

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NAME Lydia Kwan, 25 QUALIFICATION MPhil in Social and Developmental Psychology, University of Cambridge; B.A. (Hons) in Psychology, UCSI University DESIGNATION Associate COMPANY PwC Describe your job portfolio. I am a part of the Strategy division at PwC Consulting Services. To date, I have been on three projects, all of which were very different. However, the constant feature of my job as an Associate is that I am primarily responsible for research and analysis.

reconciling divergent schools of thought, and constructing pertinent and effective recommendations. The most exciting aspect was meeting relevant stakeholders, who were prominent people, and having stimulating dialogues with them.

How did you impress at the interview? Consulting interviews tend to be rigorous so I made sure I was up to speed with current news, and the evolution of the ƂTO CPF KPFWUVT[ QXGT VJG RCUV FGECFG Additionally, I read up on case studies and prepared myself accordingly. The preparation helped as it enabled me to structure my thoughts well and be EQPƂFGPV YKVJ O[ TGURQPUGU

What have you learned as a professional? I think a lot of undergraduates face the pressure of knowing exactly what they want to do and who they want to be upon graduation – I know I did. That said, one of the most liberating things + JCXG NGCTPV KU VQ PQV EQPƂPG O[UGNH VQ a linear career path. The fear of making the wrong choices often cripples and prevents us from fully utilising all the opportunities available to us.

What is the most exciting project you have worked on so far? The most interesting project was regarding a national agenda to increase the presence of women on corporate boards. The whole process was exhilarating as there were a lot of brainstorming sessions. I enjoyed the process of conceptualising ideas,

What are common misconceptions about this industry? That consultants don’t contribute anything substantial and that we provide cookiecutter solutions for our clients. While we do have certain methodologies in place, we also build highly individualised business cases and solutions as no two jobs are the same.

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NAME 6CK ;CPI QUALIFICATIONS BSc Economics, London School of Economics DESIGNATION Analyst, Capital Projects & Infrastructure (CP&I) COMPANY Deloitte Describe your job. I am an analyst in Deloitte’s Capital Projects and Infrastructure (CP&I) practice. The CP&I team at Deloitte provides assistance to its clients, through the provision of a wide range of advisory services covering commercial, CEEQWPVKPI ƂPCPEKPI CPF VCZ CURGEVU of transactions related to the capital projects and infrastructure industry. Our scope of work is diverse, and requires an astute understanding of all aspects of the transaction with the intention of helping our clients achieve their objectives. What is the most exciting project you have worked on so far? We recently advised a client on their bid to construct a district cooling facility in a landmark development within Kuala Lumpur. We assisted the client through the entire bid process, from poring through the concession documents and identifying key risk areas to the preparation of an information memorandum for the purposes of QDVCKPKPI KPFKECVKXG ƂPCPEKPI VGTOU The entire process can be gruelling, but yields its rewards in the form of the experience gained from my interactions with the many parties involved such

CU VJG Ć‚PCPEKGTU NCY[GTU VJG ENKGPVU themselves as well as other consultants, What are some misconceptions in this industry? The industry as a whole has been perceived to be predominantly accounting-based, and as such many have assumed that the greatest barrier to entry would be the lack of an accounting background. I have learned that this is not necessarily true. In Deloitte for example, my colleagues from non-accounting backgrounds are able to leverage their knowledge in QVJGT Ć‚GNFU NGPFKPI OQTG DTGCFVJ CPF depth to our delivery to the clients. How can fresh graduates get ahead and succeed in this industry? I think the key determinant for success when one is starting out is attitude. ;QWPI GZGEWVKXGU UJQWNF VCMG RTKFG and ownership in the work they do for their clients and remain positive when faced with challenges. When you make it a point to own the work you do, you will put more care into the quality of your work and be better able to overcome pitfalls that might have overwhelmed you previously. GRADUAN | 67

ACCOUNTING

A DIVERSE ENVIRONMENT

BANKING Banker’s Market Banking: Career Features

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BANKING

BANKER’S

MARKET > à >Ài }iÀ Ì i ÃÌ V ÃÌ ÌÕÌ Ã Ì iÞ ÕÃi` Ì Li° / i L> } `ÕÃÌÀÞ Ã Û LÀ> Ì > ` vÕ v « Ãà L Ì ið 7i } } Ì Ã i v Ì i Ì « Là >Û> >L i° by Lauren Ling

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he Malaysian banking sector is comprehensive, and its Islamic banking system is world renowned. There are investment, commercial, and Islamic banks in Malaysia, as well as a O[TKCF QH PQP DCPM Ć‚PCPEKCN KPUVKVWVKQPU such as provident and pension funds, FGXGNQROGPV Ć‚PCPEKCN KPUVKVWVKQPU insurance companies and more, all of which complement the banking system. According to Bank Negara, the growth QH NQCPU JCU EQPVTKDWVGF UKIPKĆ‚ECPVN[ VQ the growth of the banking sector. Recent Ć‚IWTGU UJQY VJCV JQWUGJQNF NQCPU YGTG up by 12.2 per cent in February 2013. The growth is due to credit card spending, shares investment, auto loans and more. According to the same report, as of endFebruary 2013, the lending-to-deposits ratio of the banking sector is 82 per cent. Current and time deposit accounts continued to record a healthy growth rate of 12.4 per cent year-on-year. With this positive growth, Maybank Investment Bank is predicting an annual growth rate of the banking sector for 2014 to be around 10.5 per cent. Many graduates see banking as a lucrative career, and it is indeed so. With such a steady institution, solid products, and

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the above positive growth rates, it’s no wonder many ambitious youngsters look to banking as something to align themselves with. Here, we look at some of the top jobs up for grabs in banking.

PERSONAL FINANCIAL ADVISOR RETAIL BANKING

;QW YKNN DG YQTMKPI CV C EQOOGTEKCN DCPM ;QW OWUV DG YGNN XGTUGF KP KPXGUVOGPV vehicles, tax laws, insurance, and various QVJGT ƂPCPEKCN RTQFWEVU CU [QWT LQD KU VQ JGNR [QWT EWUVQOGTU RNCP VJGKT ƂPCPEGU ;QW YKNN YQTM YKVJ VJGO VQ KFGPVKH[ CPF achieve short and long-term goals. Financial advisors are paid differently in different banks. Some banks pay a salary, and some pay a commission based on the products you sell to your customers. Financial advisors are different from relationship managers. A relationship OCPCIGT OC[ FQ GXGT[VJKPI C ƂPCPEKCN advisor does but he goes beyond that. His role is to build a relationship between the customer and the bank, and to pull together portfolios of products from various departments within the bank to suit the customer’s needs.

MORTGAGE CUSTOMER CONSULTANT

The Malaysian property market is very GRADUAN | 71

BANKING

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Many graduates see banking as a lucrative career, and it is indeed so. With such a steady institution, solid products, and the above positive growth rates, it’s no wonder many ambitious youngsters look to banking as something to align themselves with.

BANKING

vibrant right now, despite cooling measures by the government. One of the busiest departments in a bank is probably the mortgage and loan department. As a mortgage advisor, you earn a salary as well as commission based on the numbers [QW DTKPI KP ;QW YKNN JCXG C UCNGU VCTIGV VQ CEJKGXG OQPVJN[ CPF [GCTN[ ;QW YKNN CUUKUV in assessing borrowers’ credit rating, advise them on the best options for their needs, CPF JGNR VJGO KP CRRN[KPI HQT NQCPU ;QW will need excellent product knowledge. 5QOG ƂPCPEKCN RNCPPKPI DCEMITQWPF YKNN help a great deal as well, especially if your clients need help in restructuring their ETGFKV UVCPFKPI ;QW WUWCNN[ YQTM ENQUGN[ with other members of your branch, GURGEKCNN[ VJG RGTUQPCN ƂPCPEKCN CFXKUQTU and customer relationship representatives, as they are the ones most likely to refer customers to you.

BANK BRANCH MANAGER

;QW YKNN NGCF FGXGNQR CPF OCPCIG the entire branch in order to achieve income objectives set for your branch. 72 | GRADUAN

;QW OWUV JCXG GZEGNNGPV NGCFGTUJKR CPF people management skills. In addition to handling your team, you will also have to adhere to overall bank policies and standards, and be timely with your reporting. As a branch manager, you may have to handle high net worth clients who are used to dealing with managementlevel executives. Ideally, you will cultivate an environment of service and quality for your entire team, as essentially you are providing a service to your customers.

PRIVATE BANKING RELATIONSHIP MANAGER

This is the next step up from being a relationship manager at a commercial bank. When you are in private banking, your status and income are automatically elevated. As a private banking relationship manager, you must have solid wealth management and investment knowledge and experience, as you will be managing Ć‚IWTGU VJCV TWP KPVQ DKNNKQPU QH TKPIIKV Usually the lucrative accounts are in banks in Hong Kong or Singapore, as these are

The Malaysian banking sector is comprehensive, and its Islamic banking system is world renowned.

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management, and it would help if you spoke several key languages, such as English, Mandarin, and more, depending on where you are stationed.

VJG VYQ ƂPCPEKCN JWDU QH #UKC ;QW OWUV maintain a good relationship with your clients, often working through weekends and public holidays. Because you are managing such huge funds over several international markets, you are literally at your client’s beck and call, and you will have to adhere to market timing in different time zones.

HIGH NET WORTH PRIVATE CLIENT CONSULTANT

If the private banking relationship manager works from within the bank, your role as a private client consultant is HTQO VJG QWVUKFG ;QW CTG WUWCNN[ JKTGF D[ CP KPFGRGPFGPV ƂPCPEKCN KPUVKVWVKQP usually ones offering insurance, unit trust, QRVKQPU QT DQPF RTQFWEVU ;QWT ENKGPV is now the private banks. As a thirdparty consultant, your job is to sell your company’s products to private banks, who then pass on the product to their high net worth clients. Experience in private DCPMKPI JGNRU KP VJKU LQD ;QW OWUV DG well versed in investments and wealth

INVESTMENT ADVISOR - PRIVATE BANKING

This is similar to the job of personal Ć‚PCPEKCN CFXKUQTU KP TGVCKN DCPMKPI GZEGRV you are solely focused on investments. 6JKU KU WPFGTUVCPFCDNG CU VJG Ć‚IWTGU CTG higher in private banking, and the net worth of your customers are high. Also, customers of private banking are usually quite savvy themselves in matters of Ć‚PCPEG UQ [QWoTG FGCNKPI YKVJ C FKHHGTGPV category altogether. Bear in mind though that because the monetary amount involved is higher, so are the expectations. This is a faster paced job than retail DCPMKPI ;QW YQWNF PGGF VQ MGGR WR to date and be constantly on your toes CDQWV CNN OCLQT Ć‚PCPEKCN OCTMGVU CTQWPF VJG YQTNF ;QW YKNN YQTM ENQUGN[ YKVJ wealth managers and their high net worth clients to provide discretionary portfolio management and advisory investment UGTXKEGU ;QW OWUV DG HCOKNKCT YKVJ CNN investment products in multi-asset classes including FX, mutual funds, and stock VTCFKPI ;QW PGGF VQ JCXG GZRGTKGPEG managing portfolio or mutual funds, and have excellent analytical skills. GRADUAN | 73

BANKING

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MONEY SENSE 4KG\CN 5WÆ‚CP 5GPKQT 8KEG 2TGUKFGPV *GCF (KPCPEG HOW I STARTED IN INVESTMENT BANKING .KMG OQUV KP VJG Æ‚PCPEG KPFWUVT[ + UVCTVGF YKVJ C EJCTVGTGF CEEQWPVKPI TQWVG + YCU YQTMKPI KP C OGTEJCPV DCPM KP .QPFQP FQKPI RTQFWEV EQPVTQN DGHQTG + FGEKFGF VQ EQOG DCEM VQ /CNC[UKC KP +P VJG DGIKPPKPI QH O[ ECTGGT CV 4*$ + YCU FQKPI VJG UKOKNCT VJKPI DGHQTG DGKPI TGCNNQECVGF KPVQ KPXGUVOGPV DCPMKPI 9JCV UVCTVGF QWV CU UQOGVJKPI VGORQTCT[ UQQP DGEQOG C RGTOCPGPV TQNG YJGTG + YQWNF RTQXKFG UWRRQTV HQT VJG FKXKUKQP KP RNCPPKPI HQT VJG DCPMoU Æ‚PCPEKCN HWVWTG AN EXCITING TIME 6JKU YQWNF JCXG DGGP FWTKPI VJG 15- OGTIGT YKVJ 4*$ &C[ QH VJG OGTIGT YCU QP 0QXGODGT CPF YG Æ‚PCNN[ EQORNGVGF KV QP #RTKN YJGTG YG ECOG VQIGVJGT CU C EQODKPGF GPVKV[ +V YCU RTGVV[ GZEKVKPI DGECWUG + YCU KPXQNXGF KP VJG RTQEGUU TKIJV HTQO VJG DGIKPPKPI YJGTG YG JCF VQ IQ VJTQWIJ C FWG FKNKIGPEG RTQEGUU EQOKPI WR YKVJ UVTCVGIKGU HQT C UWEEGUUHWN OGTIGT RNCPPKPI JQY VQ DTKPI KV HQTYCTF GZGEWVKPI KV GXGP TKIJV FQYP VQ UVCHÆ‚PI 6JG YJQNG RTQEGUU EQXGTU C NQV QH FKHHGTGPV CTGCU 78 | GRADUAN

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What does it take to build a successful career in investment banking? We speak to two professionals from RHB Investment Bank Berhad to get an insider’s view.

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BUT STILL SATISFYING p;QW TGCNN[ NGCTP C NQV KP VJKU NKPG CPF [QW IGV VQ FGCN YKVJ CNN UQTVU QH RTQHGUUKQPU ;QW JCXG VQ FGCN YKVJ CEEQWPVCPVU CPF NCY[GTU VQ WPFGTUVCPF VJG PCVWTG QH VJG DWUKPGUU CPF JQY [QW ECP KFGCNN[ IKXG VJG TKIJV UQNWVKQPU VQ [QWT ENKGPVU 5QOGVKOGU KP OGGVKPIU [QW CNUQ IGV VQ OGGV YKVJ VJG VQR OCPCIGOGPV NGXGN YJKEJ ECP DG C ITGCV GZRGTKGPEG VQ NGCTP HTQO VJGO q A DYNAMIC TEAM $GECWUG QH VJG PCVWTG QH VJKU LQD VJG VGCO KU TGNCVKXGN[ [QWPI YKVJ VJG CXGTCIG CIGU QH VQ 6JG[ CTG GPGTIGVKE CPF CTG QHVGP YKNNKPI VQ IQ VJG NGPIVJU VQ OGGV VJGKT QDNKICVKQPU +VoU MG[ VQ TGOGODGT VJCV CU [QW RTQITGUU [QW YKNN FGXGNQR PQV QPN[ VGEJPKECN UMKNNU DWV CNUQ UQHV UMKNNU CPF C NQV QH MPQYNGFIG

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A SATISFYING JOB BANKING

Ć‚Â?Ă›ÂˆÂ˜ />˜ ĂƒÂ…>Ă€iĂƒ ĂœÂ…Ăž Â…ÂˆĂƒ Â?ÂœL ˆ˜ w˜>˜Vˆ>Â? “>ÀŽiĂŒĂƒ½ vĂ•Â˜`ˆ˜} >˜` ÂˆÂ˜Ă›iĂƒĂŒÂ“iÂ˜ĂŒ }ÂˆĂ›iĂƒ …ˆ“ vĂ•Â?wÂ?“iÂ˜ĂŒ° NAME #NXKP 6CP ;GPP 5JGPI QUALIFICATIONS Bachelor of Commerce (Hons) Accounting, University Tunku Abdul Rahman DESIGNATION Senior Executive, Group Financial Markets’ Funding and Investment COMPANY Alliance Bank Malaysia Berhad

Describe your portfolio. I was part of the management trainee programme at Alliance Bank. After the six-month rotation, I was assigned to VJG ITQWR Ć‚PCPEKCN OCTMGVUo HWPFKPI and investment team. The two key areas that the team manages are liquidity management and investment in assets of different classes and tenor. My portfolio of work focuses more on New Liquidity Framework (NLF) compliance and short term investments. What is a typical day like for you? A typical day would start off with an GXCNWCVKQP QH VJG EWTTGPV FC[oU ECUJ ĆƒQY position and deciding on how to cover a shortfall or where to invest surpluses. Shortfall or surplus arises from the mismatch between the tenure of the deposits placed by customers. These decisions are made based on the NLF compliance requirements set by Bank Negara Malaysia. The next half of my day comprises either borrowing or lending overnight money in the money market to square off the end of day positions. At the end of the day, I am busy with the preparation of various reports, which include compliance reports as well CU VJG RTQĆ‚V CPF NQUU HTQO VJG VTCFKPI activities for the day. 80 | GRADUAN

What makes this a great job? The best thing about this job is the decision-making responsibility that I have. I am able to quote prices in the market when covering shortfall positions or investing in a particular market instrument, and I see the results at the GPF QH VJG FC[ KP VJG RTQĆ‚V CPF NQUU account. It is very satisfying to see the income grow. What is next for you? I plan to understand more products that are in the market and to grasp different methodologies in strategising ways VQ IGPGTCVG RTQĆ‚VU (TQO JGTG QPG can delve into portfolio management or become a proprietary trader and URGEKCNKUG KP URGEKĆ‚E RTQFWEVU What does one need to succeed in this industry? One has to constantly be updated with the latest economic and political developments both globally and domestically, and understand how each news translates into market movements. As a start, completing the four modules under the Pasaran Kewangan Malaysia %GTVKĆ‚ECVG 2-/% GZCOKPCVKQP YQWNF offer a stronger footing in this industry.

iĂƒÂŤÂˆĂŒi ÂˆĂŒ Liˆ˜} > VÂœÂ“ÂŤiĂŒÂˆĂŒÂˆĂ›i ˆ˜`Ă•ĂƒĂŒĂ€Ăž ĂƒiĂ€Ă›ÂˆÂ˜} VÂœĂ€ÂŤÂœĂ€>ĂŒi VÂ?ˆiÂ˜ĂŒĂƒ] ÂœĂ•Ă€ ĂŒ>Â?iÂ˜ĂŒ ĂŒiÂ?Â?Ăƒ Ă•Ăƒ Â…ÂœĂœ ĂŒÂœ ĂƒĂŒ>Ăž œ˜ ĂŒÂœ°

NAME %JGQPI ;GG ;K QUALIFICATIONS Bachelor (Hons) Biomedical Science DESIGNATION Associate Corporate Relationship Support Manager, Middle Market Enterprises COMPANY HSBC Bank Malaysia Sdn Bhd What do you do? I support the senior relationship managers in handling their portfolio of corporate clients. My day-to-day tasks include writing credit reviews, understanding clients’ needs in order VQ KFGPVKH[ CPF QHHGT UWKVCDNG ƂPCPEKCN solutions, in addition to prospecting new corporate clients. My portfolio of work consists of growing middle market enterprises in the areas of civil engineering, manufacturing, consumer goods, energy and resources as well as infrastructure.

The most exciting part of your job? I would say “hunting� for new-tobank customers – the whole process is challenging and exciting; it is like starting your own business without knowing YJCV NKGU CJGCF QH [QW ;QW UQWTEG VJG customers either internally (referral from customers) or externally (news or events). Then you make cold calls and meet the customers to understand their needs and structure the facilities to match their needs. From there, you build the relationship with the customers and grow their business with them as a valued partner.

How did you land this job? I discovered a profound personal KPVGTGUV KP DWUKPGUU FWTKPI O[ Ć‚PCN year degree (Laboratory Management module). I got to know from my friend that the HSBC Management Development Programme is one of the best management programmes in the world. Taking a leap of faith, I applied online. A positive and bold attitude helped me sail through the interviews.

What should fresh graduates expect about life in this industry? This industry is competitive; hence, we have to constantly update ourselves with the market news and Bank Negara Malaysia’s guidelines and work closely with our colleagues to deliver a JQNKUVKE RCEMCIG QH ƂPCPEG UQNWVKQPU VQ assist the customers. If you like to be constantly challenged and kept on your toes, this is the industry for you. GRADUAN | 81

BANKING

CHALLENGING BUT SATISFYING

BANKING

TOUGH BUT WORTHWHILE

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NAME Zack Ng, 23 QUALIFICATION BCom (Financial Accounting and Corporate Finance), University of Western Australia DESIGNATION Assistant Vice President, Corporate Finance COMPANY Kenanga Investment Bank Berhad Describe your job portfolio. In a nutshell, my job involves the preparation and review of the preliminary assessment of potential corporate engagements, preparation and submission of corporate proposals whilst ensuring compliance with relevant regulatory requirements, liaising with clients in the development of appropriate Ć‚PCPEKCN CPF EQOOGTEKCN UQNWVKQPU CPF managing the due diligence process. How did you impress Kenanga during the interview? Preparation is key. While I had little EQORTGJGPUKQP CDQWV EQTRQTCVG Ć‚PCPEG when attending the interview, my interviewers appreciated my pre-interview efforts of trying to gain an insight into the industry. In addition, I kept my responses natural and coherent as opposed to being rehearsed and regurgitated. When approaching technical questions, my answers geared towards a fundamental and conceptual understanding rather than the “stock textbookâ€? variety. Furthermore, I also drew upon personal experiences and demonstrated creative problem UQNXKPI YJGP CFFTGUUKPI pĆ‚Vq SWGUVKQPU 82 | GRADUAN

What is the most exciting project you have worked on so far? /[ ƂTUV RTQLGEV s VJG CFOKPKUVTCVKQP QH CP independent valuation of an insurance company. Given the unique nature of the project, this had provided me valuable insight into the multiple facets of my job, including direct interaction with and exposure to other professionals and the clients while enabling practical application of theoretical concepts attained through my studies from university. What are common misconceptions about this industry? I wouldn’t necessarily consider this a misconception, rather an underestimation of the impact this industry would have on any prospective new hire. Between being on-call almost all the time coupled with VJG NQPI JQWTU URGPV YKVJKP VJG EQPƂPGU QH VJG QHƂEG QPG JCU VQ UGTKQWUN[ EQPUKFGT the social and lifestyle implications of entering into the industry. Excel work, drafting, research, and miscellaneous administrative tasks essentially keep me occupied throughout the day. Still, if you get a thrill out of burning the midnight oil CPF LWUV JCRRGP VQ DG C /KETQUQHV 1HƂEG IWTW [QWoNN FQ LWUV ƂPG

KNOWLEDGE IS KING

BANKING

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NAME /QJCOCF 5[CƂSG DKP #DFWN 4CJKO QUALIFICATIONS Bachelor of Shariah & Law; Master of Shariah (Islamic Banking Law) DESIGNATION Manager, Shariah Department COMPANY OCBC Al-Amin Bank Berhad Describe your portfolio. I am handling Shariah research, advisory and secretariat functions within OCBC AlAmin. My job involves conducting in-depth research and studies on Shariah issues, and this includes giving my opinion and guidance on overall business operations in the context of Shariah, reviewing legal documentation. At times, it entails endto-end product development, some structuring process especially with sukuk (or unit trust in the Islamic context). In addition, I am also tasked to assist in overseeing secretarial matters relating to the bank’s Shariah Committee. What are common challenges of the industry? Developing Shariah-compliant products for customers. There is a challenge to align these Islamic products with the conventional ones and to ensure all these products comply with Shariah from different angles of argument. The process requires a sound knowledge of Shariah and also Islamic commercial law, coupled with experience in banking. What makes this a great job? The challenge excites me and every job

I undertake will beef up my experience and knowledge in the mechanics of Shariah. FSTEP (Financial Sector Talent and Enrichment Programme) and OCBC have given me endless support and training. This, coupled with the experience, enables me to enhance my knowledge on Shariah and its scope. How did you get to this position? I started my career as an FSTEP participant where I was given the opportunity to work with colleagues from different backgrounds. Upon completion of the programme, I was hired by OCBC Al-Amin as a permanent staff. Since then, I started building my career and remained faithful to my career development plan. What does one need to succeed in this job? -PQYNGFIG KU MKPI (QT +UNCOKE Ć‚PCPEG VQ TGOCKP EQORGVKVKXG KP VJG INQDCN Ć‚PCPEKCN KPFWUVT[ OQTG emphasis is needed on research and development. Therefore, with broad knowledge coupled with creativity, analytical and problem-solving skills, anyone can attain success. GRADUAN | 83

BANKING

TAKING RISKS

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NAME Nik Akmal Hareez Bin Nik Mohd Rasdi, 24 QUALIFICATIONS Bachelor of Business Administration, Temple University, USA. POSITION Credit Risk Analyst, Group Risk Management COMPANY #HƂP $CPMKPI )TQWR Describe your job portfolio. I analyse corporate credit and related risks for new and existing borrower, support or vice versa requests for facility with the bank, ensure that the risk taken is aligned with the bank’s risk appetite, provide independent reviews and analysis of loan portfolios, detect deterioration in credit quality of loan portfolio, and recommend appropriate measures to mitigate potential losses. How did you secure this position? I was aiming to further my career in risk management after being exposed to VJG UWDLGEV KP WPKXGTUKV[ 5KPEG #HƂP $CPM QHHGTU VJG #HƂP /CPCIGOGPV 2TQITCOOG I felt it was a good way for me to expand my knowledge in banking as well as risk management. I expressed my passion for risk management as well as my ambition to the panel of interviewers. Having passion and the right attitude are the key factors that can give you the drive to excel in your career. 84 | GR GRADUAN DUAN

What is the most exciting part of your job? The learning curve to credit analysis is very steep and challenging. It requires the combination of quantitative and SWCNKVCVKXG UMKNNU ;QW EQWNF UC[ KV is science as well as art. Every case is different and requires unique approaches. How do you cope with following your dream and having a life? Make sure that your work and life are well balanced. Know when to spend more time at work and when to compensate that time for your personal life. I recognise my limits in chasing my dreams. Sometimes dreams come true when the time is right. What should fresh graduates expect about life in this industry? 6JG Ć‚PCPEKCN KPFWUVT[ KU C XGT[ concentrated industry. Competition is wild; thus, having a clear picture of your career progression is very important.

CAPITAL MARKET Big On Capital Capital Market: Career Features

GRADUAN | 85

C A P I TA L M A R K E T

BIG ON

CAPITAL i Ì V>« Ì> >À iÌÃ] > ` Û Ã Ã v } «>Þ } > ` } yÞ } Là >Ài Ì Õ V ° 7 >Ì iÝ>VÌ Þ Ã Û Ûi`] > ` ` Þ Õ >Ûi Ü >Ì Ì Ì> iÃ Ì ÃÌ> i > V > Ì Ã ÕVÀ>Ì Ûi wi `¶ by Lauren Ling

86 | GRADUAN

T

he capital market is basically a market place where securities are traded to raise capital for corporations. On the other side of the coin, it is also for investors to buy into this capital as an investment. The players in the industry are big corporations, institutions and individual investors. There are two types of securities traded – based by equity called shares or derivatives, and based by debt called bonds. The Malaysian capital market has a good framework with the Securities Commission (SC) acting as regulators. The SC discharges duties and carries out mandate endorsed by Parliament and is accountable to its shareholders, namely the investors. The SC ensures transparency in the process and market GHƂEKGPE[ /CNC[UKCoU GEQPQO[ HQT GCUG QH doing business ranks sixth in the World Bank’s Doing Business 2013 report. In the same report, it is ranked fourth for its ability to protect investors, which means the market is thriving and investor EQPƂFGPEG KU UVTQPI Here, we highlight seven of the hottest jobs in capital markets. For all the jobs below, a Bachelor’s degree or higher in Finance, Economics, Accounting and/or Mathematics is required.

INVESTMENT ANALYST

An investment analyst job is the ideal marriage between research and real-

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time data. An investment analyst has to keep abreast of all that’s happening in VJG ƂPCPEKCN YQTNF VCMKPI KPVQ CEEQWPV new policies, regulations, and market trends. Depending on the company you work for, you will likely assist in the FGXGNQROGPV QH ƂPCPEKCN OQFGNU HQT PGY RTQFWEV NKPGU ;QW YKNN CPCN[UG CEVWCN performance, benchmarked against the forecast you would have generated in VJG RTGXKQWU ƂPCPEKCN [GCT ;QW YKNN RNC[ an active role in steering the company VQYCTFU CEJKGXKPI KVU ƂPCPEKCN IQCNU #U CPF YJGP ƂPCPEKCN KUUWGU ETQR WR KV KU your responsibility to identify, analyse, and propose solutions to resolve them.

PORTFOLIO MANAGER

As a portfolio manager, you manage your client’s investment portfolio, which can be a combination of various investment tools. Like an investment analyst, you JCXG VQ MGGR CDTGCUV QH VJG ƂPCPEKCN market. The nature of your job depends QP VJG TKUM RTQƂNGU QH [QWT ENKGPVU 6JG more risk friendly your clients are, the more aggressive your strategies would be. If you have individual clients, your job is to advise them on the best strategy to maximise their return of investment. If you are working for a corporation, you JCXG VQ JGNR CEJKGXG KVU ƂPCPEKCN IQCNU As a corporate portfolio manager, you have to recommend strategies and even ƂPCPEKCN UVTWEVWTG EJCPIGU YKVJKP VJG EQTRQTCVKQP ;QW YQWNF DG TGURQPUKDNG HQT C YJQNG TCPIG QH ƂPCPEKCN TGRQTVKPI to comply with corporate governance. GRADUAN | 87

C A P I TA L M A R K E T

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There are two types of securities traded – based by equity called shares or derivatives, and based by debt called bonds.

C A P I TA L M A R K E T

HEDGE FUNDS MANAGER

A hedge fund is a limited partnership of investors that uses high-risk methods, such as investing with borrowed money, in hopes of realising large capital gains. As a hedge funds manager, you have the potential to earn a lot of money but the TKUMU CTG GSWCNN[ JKIJ ;QW YKNN QXGTUGG and make decisions about the various KPXGUVOGPVU KP C JGFIG HWPF ;QW PGGF to have a clear investment strategy in place, as well as adequate capitalisation. It is usually high-net worth individuals who invest in hedge funds. As a funds manager, you must have an effective sales and marketing strategy in place and know how to manage your risks as they come up. Because your investors expect high returns, your strategies must be aggressive as well, leading to higher risk. 88 | GRADUAN

MUTUAL FUNDS MANAGER

;QWT TQNG KU VJG UCOG CU C JGFIG HWPFU manager, except that a mutual fund is relatively lower risk. A mutual fund is an investment programme funded by UJCTGJQNFGTU VJCV VTCFGU KP FKXGTUKƂGF JQNFKPIU VQ URTGCF KVU TKUMU ;QW CTG RCKF a fee for your work, which is a percentage of the fund’s average assets under OCPCIGOGPV 'ZRGTKGPEG CPF ƂPCPEKCN education are pre-requisites for this job. ;QWT KPXGUVQTU YKNN DG NQQMKPI HQT NQPI term and consistent fund performance over time, and your track record will FGVGTOKPG VJGKT NGXGN QH EQPƂFGPEG KP [QW

EQUITIES TRADER

As a trader, you will deal with stocks of publicly traded companies listed QP C UVQEM GZEJCPIG ;QWT ENKGPVU OC[

C A P I TA L M A R K E T also want you to negotiate and trade privately on their behalf. Some equities traders will execute buy-or-sell orders under the direction of a portfolio manager. When not working through a portfolio manager, you are dealing directly with external clients, which will include individuals, pension funds, asset OCPCIGOGPV Ć‚TOU CPF OQTG 5QOG people go into equity trading on their own, meaning they trade for themselves using their own capital.

INVESTMENT BANKER

An investment banker works for an investment bank, and you help companies raise capital. To do this, you advise them on the best strategy to raise FGDV QT GSWKV[ ECRKVCN ;QW YKNN JGNR VJGO prepare the necessary documents, a kind

of business plan, to apply for funding or VQ TCKUG ECRKVCN ;QW YKNN RTQXKFG CFXKEG QP CNN Ć‚PCPEKCN CPF EQTRQTCVG TGIWNCVKQPU that need to be followed, to ensure everything is above board.

IPO ADVISORY SERVICES

When companies intend to get listed on the stock market, IPO advisory services will help position them for long-term UWEEGUU ;QW YKNN JGNR VJGO FGXGNQR C comprehensive capital markets strategy. ;QW YKNN YQTM YKVJ [QWT ENKGPVU VQ FGXGNQR their corporate message and introduce them to potential banking partners, sellside research analysts, and institutional KPXGUVQTU ;QW YKNN YQTM UKFG D[ UKFG with your clients throughout the entire IPO execution, providing independent capital markets advice. GRADUAN | 89

C A P I TA L M A R K E T

AN INVALUABLE EXPERIENCE

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NAME Qamra Jema Khan, 26 QUALIFICATION BEng (Hons) Biomedical Engineering, Imperial College London; MSc Risk Management and Financial Engineering, Imperial College Business School. POSITION Assistant Manager, Quantitative Analyst, Market Risk COMPANY AmBank Describe your portfolio. Most of what I do includes building my QYP Ć‚PCPEKCN OQFGNU VQ KPFGRGPFGPVN[ validate the outputs of a system or pricing model. I also ensure our VaR (Value at Risk) model works when new currencies or products are added to portfolios. What are common challenges for professionals in this industry? I feel that the Quant industry is still in its KPHCPE[ KP /CNC[UKC +V ECP DG JCTF VQ Ć‚PF quantitative training courses with a high level of sophistication here, so you have to be motivated enough to self-learn and spend a lot of your own time researching and understanding models. Also, since VJG INQDCN Ć‚PCPEKCN ETKUKU TGIWNCVQTU JCXG enforced more laws and standards that banks have to comply with, for example counterparty valuation adjustments. As a result, market risk is always evolving and you have to make sure you are able to continually learn and adapt to a EJCPIKPI Ć‚PCPEKCN NCPFUECRG 90 | GRADUAN

What makes this a great job? The sheer level of exposure I get at AmBank is invaluable. So far, I have been able to see various aspects of risk, both market and non-market risks, as well as work with other specialist units in the bank on pricing models. In another bank, I would probably be specialised in only one product class, like just FX or interest rate products, but here I am exposed to everything. Furthermore, the bank has started moving away from traditional products and is into the more exotic derivatives space, which makes it a very interesting time to be working here. What are common misconceptions about the industry? Quantitative doesn’t mean a world that only deals with numbers. To do my job effectively, I need to see the bigger picture. This involves combining my quantitative skills with my communication skills, and CRRN[KPI VJGO VQ VJG ƂPCPEKCN OCTMGVU Part of my role involves being aware of market practices and conventions, as well as changing regulatory requirements.

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NAME James Gan, 28 QUALIFICATIONS Chartered Financial Analyst (CFA) Bachelor of Science in Mathematics & Economics, University of Warwick DESIGNATION Investment Equities – Equities Research, Asset Management/ Assistant Vice President COMPANY CIMB Group Describe your job portfolio. I provide investment recommendations on my coverage to in-house fund managers. This involves analysing industry trends, regular communications with company management, and touching base with contacts from various industries to generate good ideas. My current coverage includes Singapore, Taiwan and Korea stocks with previous experience in the oil and gas sector in Malaysia.

you to allocate your resources better.

How did you get into this industry? What attracted me was the chance to learn the dynamics of the stock market. Bigger picture, the role allows me to be in tune with the global economic developments that will affect the commercial attractiveness of certain asset classes, countries, sectors and stock picks. A breadth of coverage as a buy-side analyst is important to understand market dynamics and what will do well, and what will not. This will be very useful, if one were to aspire to be a funds manager or perhaps teach

What have you learned as a professional? That we don’t always know everything. Being open minded to new or alternative concepts can sometimes be quite rewarding.

What is the most exciting part of your job? Being able to participate in intellectually stimulating analysis, which is part and RCTEGN QH Ć‚PFKPI IQQF UVQEMU VQ KPXGUV in. The job also enables us to meet OCP[ RGQRNG YJQ CTG VQR KP VJGKT Ć‚GNFU e.g. management or even owners of EQORCPKGU CPF + Ć‚PF VJCV KPURKTKPI

How can fresh graduates get ahead and succeed in this industry? A keen interest in capital markets and understanding what drives it. One should also be able to keep a balance between attention to details and seeking a broader picture. Lastly, do not give up easily as you never know where you will end up. GRADUAN | 91

C A P I TA L M A R K E T

THE CHANCE TO GO FAR

C A P I TA L M A R K E T

NEVER A DULL MOMENT "Ă•Ă€ ĂŒ>Â?iÂ˜ĂŒ ĂƒÂ…>Ă€iĂƒ ĂœÂ…Ăž Â…ÂˆĂƒ Ă€ÂœÂ?i ˆ˜ ĂŒÂ…i w˜>˜Vi ˆ˜`Ă•ĂƒĂŒĂ€Ăž ÂˆĂƒ VÂ…>Â?Â?i˜}ˆ˜} ĂžiĂŒ iĂ?VÂˆĂŒÂˆÂ˜}°

NAME .CYTGPEG .GQPI ;GY %JQQP QUALIFICATION B ENG (HONS) in Electronics and Computing, The Nottingham Trent University, UK DESIGNATION Deputy Vice President, Debt Capital Markets COMPANY Kenanga Investment Bank Berhad Describe your job portfolio. I assist and advise companies on debtraising via private debt securities for their Ć‚PCPEKCN PGGFU /[ LQD UEQRG RTGVV[ much covers the whole process of debt Ć‚PCPEKPI 6JKU UVCTVU QWV YKVJ RTGRCTKPI pitches and identifying potential clients D[ TGXKGYKPI VJGKT Ć‚PCPEKCN XKCDKNKV[ CPF DCPMCDKNKV[ VQ CTTKXG CV VJG OQUV GHĆ‚EKGPV FGDV Ć‚PCPEKPI UQNWVKQPU 6JKU YQWNF UQOGVKOGU TGSWKTG Ć‚PCPEKCN OQFGNNKPI CPF credit skills. Once a deal is secured, my team would participate in deal execution that includes assisting the sales force with the solicitation of debt offerings to potential investors. What is the most exciting project you have worked on so far? 9JKNG O[ URGEKCNV[ KU KP FGDV Ć‚PCPEKPI 92 | GRADUAN

I also handle project advisory jobs such CU TGUVTWEVWTKPI Ć‚PCPEKCN CFXKUQT[ and project valuation. One of the most exciting projects that I was involved in would be the valuation of an infrastructure company based in Malaysia. This requires a totally different set of skills from my usual job portfolio. What have you learned as a professional? If I could sum up the crux of what I have learned throughout my working career, it would be integrity, perseverance, and hard work. Although being academically strong is an important factor to progress, encompassing those attributes can bring you even further.

While it can be demanding, our talent tells us why a role in the equity capital markets is ideal.

NAME Taraec b. Mohamed Hussein, 25 QUALIFICATIONS Bachelor of Accounting & Finance, The University of Manchester DESIGNATION Senior Analyst, Equity Capital Markets COMPANY Maybank Investment Bank Berhad (MIB) Describe your job portfolio. Our role comes in at the end of an IPO (initial public offering) cycle, when we engage potential investors and the management of the company that is launching the IPO. Our main goal as the advisory bank is to help market the shares to potential investors and do all the necessary groundwork to structure a proper IPO launch. There are lots of engagement activities in the form of presentations, managing demands from investors, working with syndicated research houses to showcase the company, prepping the company through a dry run, organising road shows – all of which are done to ensure that the indicative demands for the shares are converted into a real process. In a nutshell, we act as the middlemen between the potential investors and the company. What is the most exciting project you have worked on so far? All deals are exciting by nature but working on the AirAsiaX IPO launch was one of the more exciting deals. The +21 YCU VJG ƂTUV KP EQTRQTCVG JKUVQT[

to launch a retail roadshow, which was led by Tan Sri Tony Fernandes. We had roadshows in all major cities and it was exciting to be part of a pioneer exercise. What have you learned as an individual and professional? This platform allows me to deal with companies from different industries and with different strategies. The exposure is wider, and I also get to work with legal teams and market researchers, which adds to my knowledge and experience. However, if I have to name one thing I learnt the most, that would be to value my personal time as the demanding nature of investment banking will require you working longer than usual. What should fresh graduates expect about life in this industry? Be prepared to work long hours. Depending on the size of the bank, work can be stressful with meeting deadlines and people management. If you can successfully manage all these, the rewards are more than enough to make up for the challenging work. GRADUAN | 93

C A P I TA L M A R K E T

A REWARDING CAREER

RISK MANAGEMENT The Assurance Of Insurance Risk Management: Career Features

GRADUAN | 95

RISK MANAGEMENT

THE ASSURANCE OF

INSURANCE *i « i ÕÃÕ> Þ Ì v ÃÕÀ> Vi >}i ÌÃ Ü i Þ Õ i Ì Ì i `ÕÃÌÀÞ LÕÌ Ì iÀi½Ã >VÌÕ> Þ Ài Ì Ì Ã Û LÀ> Ì >À iÌ Ãi} i Ì° by Lauren Ling

96 | GRADUAN

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alaysia has a thriving insurance industry, with major companies like Great Eastern, MAA, Prudential and more offering customers a myriad of choices when it comes to saving, protection, and investment products. The industry was brought under the supervision of Bank Negara Malaysia in 1988, and the regulatory framework was further strengthened and enforced in the 1990s. Since then, the professional standards of the insurer have improved in leaps and bounds, particularly in the area of operational OCPCIGOGPV CPF Ć‚PCPEKCN UVCPFKPI of insurers, leading to growing public EQPĆ‚FGPEG Today, the insurance industry in the country is mature, and it has long been shown to be lucrative to the professionals who have contributed to its growth. It is a very service-based KPFWUVT[ CPF CIGPVU CTG HCUV Ć‚PFKPI VJCV one of the certainties of the industry is that everyone needs some form of protection. We look at some of the key jobs out there.

INSURANCE AGENT

This is the most obvious profession, and also the most lucrative, depending on one’s network. Agents are out in the ƂGNF pUGNNKPIq RQNKEKGU 6JG[ NKVGTCNN[ pound the pavement in search of potential clients. The top ones know

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that word-of-mouth referral is the most powerful tool they have at their disposal. They earn a commission based on the plan they sign their customers up for. Depending on the company, they would get a staggered percentage of the policy amount for up to six years from when the policy comes into force. To make it as an insurance agent, one has to be tenacious, and hopefully have a personable character, because a big part of the job is cultivating trust and relationships with their clients.

AGENCY OWNER

The next level up from an agent is to be the owner of an agency. Think of it as a small business, where you recruit other agents, and collectively, you hit the minimum target required to operate CP CIGPE[ ;QWT GORNQ[GGU CTG QVJGT agents like yourself. Usually, a senior insurance agent will train rookie agents and recruit them for his or her agency. The unique thing about an insurance agency is that every agent or employee is essentially his or her own business unit, as their earnings are based on the policies they sign people up for. An agency owner himself will also be out there selling policies, but probably at a higher level because of all the contacts built up over the years. As an agency owner, he has to motivate his team of agents and push them to achieve targets. GRADUAN | 97

RISK MANAGEMENT

“

Today, the insurance industry in the country is mature, and it has long been shown to be lucrative to the professionals who have contributed to its growth.

RISK MANAGEMENT

CLAIMS INVESTIGATION SPECIALIST

This is a deskbound job, and you’re PQV CEVKXGN[ UGNNKPI RQNKEKGU ;QWT LQD is to develop litigation strategies and JCPFNG ENCKOU KPXGUVKICVKQPU ;QW EQOG in when policyholders submit claims. Depending on the department you’re assigned to, some of your duties will include evaluating bodily injuries or RTQRGTV[ FCOCIG ENCKOU ;QW CTG CNUQ C negotiator, and will have a thorough and up-to-date knowledge of the current laws – motor vehicle laws, state laws, case laws, and by laws. A senior investigation specialist will be trained and well-versed KP HTCWF FGVGEVKQP ;QWT RGTHQTOCPEG YKNN usually be based on your inventory of claims, and this is usually measured by JQY GHĆ‚EKGPVN[ [QW ECP UVCTV KPXGUVKICVG and close a case. Good investigation specialists are highly sought after, and VJG UCNCT[ YKNN TGĆƒGEV VJKU 98 | GRADUAN

ACTUARY

This seems like another behind-thescenes career, but you actually play an important role in shaping the industry. ;QW CTG VJG QPG FGUKIPKPI VJG XCTKQWU products that your agents will sell. A degree in mathematics or statistics will be very helpful, as you’re crunching the numbers to determine the risk GZRQUWTG QH CP[ PGY RTQFWEV ;QW are responsible right down to pricing, duration, and terms and conditions. ;QWT TGURQPUKDKNKV[ KU VQ GPUWTG VJGTG KU a healthy ration of funds for payment of claims, and funds to be invested to make the product grow, and give the TGVWTPU RTQOKUGF VQ EWUVQOGTU ;QWT position is senior management level, and you could either be working for an insurance company or you could be operating an actuarial consulting service, providing advisory services to corporate clients.

BROKER

An agent has individual clients. A broker has corporate clients. A broker does what an agent does but on a companywide scale. Usually companies will engage a broker to negotiate a deal that best suits their budget.

UNDERWRITING SPECIALIST

As an underwriter, you are the one telling the insurance company whether or not to insure a person or a company. Depending QP VJG Ć‚GNF VJCV [QWoTG KP VJGTG CTG underwriters specialised in the services industry, the oil and gas industry, the fast moving consumer goods industry, and so forth), you will monitor product, class, UVCVG CPF RTQĆ‚V EGPVTG RGTHQTOCPEG for assigned areas of responsibility, and conduct necessary analysis to develop recommendations for coverage and rate OQFKĆ‚ECVKQPU VQ CEJKGXG VCTIGVGF TGUWNVU ;QW YKNN YQTM VQIGVJGT YKVJ RTQFWEV

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development, actuarial staff, operations and marketing in developing products. ;QW YKNN PGGF IQQF CPCN[VKECN CPF decision-making skills.

LOSS ADJUSTER

A loss adjuster works with claims URGEKCNKUV ;QW YKNN JCPFNG CNN CURGEVU QH CP insurance claim. Often, a loss adjustor is an independent entity from the insurance EQORCP[ ;QW YKNN DG TGURQPUKDNG HQT making the offer and settling claims with the insured or claimant as well as processing all necessary documents CU URGEKĆ‚GF D[ VJG EQORCP[ ;QW YKNN need strong communication skills as you have to deal with the insured, claimants, lawyers, and other parties in the course of investigation and adjustment. Insurance companies like to work with professional CPF GHĆ‚EKGPV NQUU CFLWUVGTU UQ VJG MG[ KU to build a long-standing relationship with a big company. GRADUAN | 99

RISK MANAGEMENT

“

It is a very service-based industry, and agents are fast Ć‚PFKPI VJCV QPG of the certainties of the industry is that everyone needs some form of protection.

RISK MANAGEMENT

HIGH EXPECTATIONS

Ć‚Â˜ >VĂŒĂ•>Ă€ĂžÂ‡ĂŒÂœÂ‡Li ĂƒÂ…>Ă€iĂƒ ĂœÂ…Ăž Â…iĂ€ Ă€ÂœÂ?i ÂˆĂƒ `i“>˜`ˆ˜} LĂ•ĂŒ iĂ?VÂˆĂŒÂˆÂ˜} >ĂŒ ĂŒÂ…i Ăƒ>“i ĂŒÂˆÂ“i°

NAME Abir Abdul Rahim, 25 QUALIFICATION BSc Actuarial Science, MSc Actuarial Management DEPARTMENT Actuarial and Family Retakaful COMPANY Syarikat Takaful Malaysia Berhad Describe your portfolio. I assist the general manager who is the appointed actuary of the company on matters with regards to pricing our takaful products (setting rates), analysing data, and performing XCNWCVKQP QP VJG ƂPCPEKCN UQWPFPGUU of the company, doing research on the industry on both domestic level and globally. I am sometimes involved in product marketing and matters from other departments like risk management, corporate sales, ƂPCPEG CPF KPXGUVOGPV + CNUQ IGV VJG opportunity to work alongside other big takaful players on projects to develop the takaful industry in Malaysia. What are common challenges for professionals in this industry? The main challenge in striving to qualify as an actuary is the exam. Some have to repeat the papers several times as the passing rates are high and unpredictable. It’s not easy to work and study at the same time unless you’re the most disciplined person in the world and FQPoV OKPF UCETKƂEKPI ƂXG OQPVJU PQV seeing the outside world preparing for GZCOU $GUKFGU VJCV CEVWCTKGU CNYC[U have to explain to our friends what an 100 | GRADUAN

CEVWCT[ KU s VJCV KVUGNH KU C FKHƂEWNV VCUM DGECWUG PQV GXGT[QPG WPFGTUVCPFU How did you get to this position? My CV was passed to the CEO of the company. I was in between job offers at the time but having a mentor in the company itself gave me further EQPƂFGPEG VQ CEEGRV VJG QHHGT JGTG The CEO interviewed me and he EJCTVGTGF O[ ƂXG [GCT ECTGGT RCVJ + was torn between going for my passion and trusting someone who knows the industry better. But I thought, I should listen to someone more experienced and Alhamdullilah, I’ve gained invaluable experience so far. The expectations are high but hopefully I’ll strive to deliver them for the company. What are common misconceptions about this industry? When I took the course in university, people said an actuary’s job is behind the desk, that you don’t see much of the world. But they’re wrong. It’s an individual’s effort to make any profession interesting. I get to deal with other people internally and externally, and I enjoy numbers too. The conception that an actuary’s job is mundane is a fallacy.

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NAME Tan Ming De, 29 QUALIFICATIONS ACCA DESIGNATION Manager, Audit and Assurance COMPANY Great Eastern Life

Describe your job portfolio. I support Great Eastern in the overall development, implementation and enhancement of risk management structures and capabilities in line with regulatory developments and best practices. Why did you choose this career path? I was working at OCBC in Singapore when I decided to come back to Malaysia to be closer to my family. An opportunity presented itself when I was at an internal career fair and met the Group Risk Management Head from Great Eastern. Since I love the working culture of OCBC Group, it was only natural for me to move within the Group. As I wanted to help people, I had dreams of becoming a doctor. In my current job scope, I believe I am still helping people indirectly by managing the risks faced by the company. And through this, my company helps RGQRNG KP VKOGU QH ƂPCPEKCN PGGF

How did you impress at the interview? During the interview, I displayed my understanding of the company and the job role, how my skills and expertise correlate to the position, and my belief that I would be able to contribute to the growth of the company. What makes your job exciting? In my job, I deal with people from all levels within the company and I am exposed to different types of projects. Part of my job scope is to review the risk assessments for various projects in Great 'CUVGTP + ƂPF VJKU KPVGTGUVKPI CU + JCXG the chance to be exposed to the latest developments in the company. There is always a chance to learn and grow. What does one need to succeed in this job and industry? Passion, knowledge, interpersonal skills, and a willingness to learn. It may seem tough in the beginning when everything’s new, but once you’ve gotten through VJG NGCTPKPI EWTXG CPF ICKPGF UWHƂEKGPV experience, your persistence will pay off. GRADUAN | 101

RISK MANAGEMENT

CALCULATING RISK

Be part of the Global Leader in Health and Protection.

AXA AFFIN LIFE INSURANCE

Present in 57 countries, the 160,000 employees and distributors of AXA are committed to serving 102 million clients. Our areas of expertise are reflected in a range of products and services adapted to the needs of each client in three major business lines: property-casualty insurance, life & savings, and asset management. Be a part of AXA AFFIN today. AXA Group #1 Global Insurance Brand 2013 TOP 100 GLOBAL BRAND

Global Leader in Health & Protection Trusted by 102 million clients worldwide

Date as of 31 December 2013 Please email your profile to hr.recruit@axa-life.com.my or post it to the following address

AXA Global Leader in Health & Protection AXA AFFIN Life Insurance Berhad (723739-W) 8th Floor, Chulan Tower, No.3 Jalan Conlay, 50450 Kuala Lumpur Telephone: 03-2117 6688 Fax: 03-2117 3608 1 300 88 1616 www.axa-affin.com

Global Financial Strength â‚Ź90.1 billion in revenues and â‚Ź4.3 billion in underlying earnings

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SHARED SERVICES Time For Sharing Shared Services: Career Features

GRADUAN | 105

SHARED SERVICES

TIME FOR

SHARING / Õ} Ì >Þ Ãii i > v Ài } V Vi«Ì] Ì i à >Ài` ÃiÀÛ Vià `ÕÃÌÀÞ Ã >VÌÕ> Þ > V ÃÌ ivviVÌ Ûi Ü>Þ Ì > >}i Àià ÕÀVið *iÀ >«Ã Ì iÀi½Ã > V>ÀiiÀ Ì v À vÀià }À>`Õ>Ìiö by Lauren Ling

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This is a niche untapped market in our country, so the time is ripe for shared services to grow. We give you a rundown of the positions available in this industry.

n a world where everything is centralised and autonomous, and corporations want to retain individuality and independence, the words “shared services� may seem rather alien. Who wants to share anymore, particularly in the ECRKVCNKUVKE EQTRQTCVG YQTNF! 9GNN [QWoF be surprised. The shared services industry actually serves the purpose of capitalism very well; it enables corporations to save costs and maximise available resources.

HEAD OF BUSINESS OPERATIONS

Shared services is a way of pooling together common administrative functions and servicing the ‘customers’ KP C EQUV GHHGEVKXG TGNKCDNG CPF ĆƒGZKDNG manner. It can happen within an organisation or between two or more organisations. In the former, a group of shared services will provide various departments within a company with administrative functions. Human resources and IT are two examples of shared services, although it has become the norm for all corporations to centralise these two functions anyway. Shared services between two or more corporations are more rare. An example is when Company A and Company B decide to form a shared service to handle both company’s payroll. This is a cost effective way for small medium enterprises to share resources. Or they could have a shared sales team selling both companies’ products. This can happen if they both sell similar or complementary products.

SHARED SERVICES TEAM MANAGER

A shared service operates like a business unit. Its main product is the service(s) it is offering. As head of business operations, you will shape the function that your team will perform, and build a new and innovative service HQT [QWT ENKGPVU ;QW YKNN PGGF VQ DG YGNN versed in the local business scene, and DG HCOKNKCT YKVJ VCZCVKQP CPF ƂPCPEKCN frameworks that your clients will be QRGTCVKPI YKVJKP ;QW YKNN DG KP EJCTIG of the day-to-day running of the service you’re offering. Communication skills are of utmost importance, as you will be an integral part of your clients’ businesses.

As a team manager, you will lead a group of people in providing a service to your EQORCP[oU ENKGPVU ;QW YKNN OQUV NKMGN[ report to the head of operations. It is your job to implement the operational RTQEGUUGU UGV HQT [QWT ENKGPVU ;QW YKNN need to have a big-picture view, as [QW CTG QP VJG ITQWPF GXGT[ FC[ ;QWT feedback and insights are much needed to ensure your clients are getting what they need from your team. GRADUAN | 107

SHARED SERVICES

“

Shared services is a way of pooling together common administrative functions and servicing the ‘customers’ in a cost effective, TGNKCDNG CPF ĆƒGZKDNG OCPPGT

SHARED SERVICES

THE RESEARCH ASSOCIATE MEDIA MONITORING

1HVGP ƂPCPEKCN EQORCPKGU OC[ WUG C shared service for media monitoring. As a research associate, you are responsible for ensuring your clients are alerted to relevant coverage in key media globally. This job requires experience in data TGUGCTEJ KP ƂPCPEKCN OCTMGVU CPF MG[ skills are managing, gathering and cataloguing data. Depending on your company, you may also be required to CPCN[UG FCVC ;QW OWUV JCXG C UVTQPI understanding and knowledge of the market you’re extracting information HTQO YJGVJGT KV KU ƂPCPEKCN QKN CPF ICU EQTRQTCVG YQTNF CPF OQTG ;QW will need to alert your clients timely regarding relevant coverage in the global OGFKC ;QW YKNN JGNR DWKNF QT OCKPVCKP a database of articles and coverage relevant to your clients. 108 | GRADUAN

SHARED SERVICES CUSTOMER SERVICE ADVISOR

;QW DGEQOG VJG HCEG QH [QWT ENKGPVU CU you will be dealing with general queries and offer customer service solutions to [QWT ENKGPVU ;QW OC[ YQTM CV C ECNN EGPVTG answering calls according to your clients’ PGGFU ;QWT ENKGPVU YKNN IKXG [QW IWKFGNKPGU and quality goals when dealing with their customers. From a customer service advisor, you can move up to be team leader and even manager of operations. Problem solving and communication skills are very important in this job.

HR SHARED SERVICES MANAGER

;QW YKNN DG KP EJCTIG QH C EGPVTCN *4 team that either services departments within a company or several independent companies. The role is similar to a HR OCPCIGT KP C EQPXGPVKQPCN TQNG ;QW will need to be well versed in HR and

SHARED SERVICES employment laws, and work within those parameters. Some HR shared services managers specialise in the recruitment of foreign labour for their clients, while some will perform all aspects of hiring, whether NQECN QT KPVGTPCVKQPCN YQTM HQTEG ;QW YKNN need to create and maintain performance review processes for all employees, and KORNGOGPV VJG TGXKGY RTQEGUU ;QW YKNN also have to execute regular training programmes for your clients.

SHARED SERVICES CENTRE MANAGER - FINANCE

Financial shared services are often across international borders. Multinationals often employ this service. To do this, you OWUV JCXG GZRGTKGPEG KP C UGPKQT Ć‚PCPEKCN OCPCIGOGPV NGXGN 6JG Ć‚PCPEKCN HWPEVKQP of your clients is your key role, and to do this, you must be well versed in the laws of the various jurisdictions your clients

operate in. Main responsibilities include overseeing the central accounting team, drafting and implementing best practices accounting policies, ensuring compliance and timely reporting.

SHARED SERVICES FINANCIAL ACCOUNTANT

#U C UJCTGF UGTXKEGU ƂPCPEKCN CEEQWPVCPV you are part of the central accounting VGCO ;QWT LQD KU UKOKNCT VQ CP CEEQWPVCPV of a conventionally set up company, except you’re now overseeing the RTGRCTCVKQP QH ƂPCPEKCN UVCVGOGPVU HQT VYQ QT OQTG ENKGPVU ;QW YKNN YQTM ENQUGN[ YKVJ VJG ƂPCPEG VGCO HQT TGRQTVKPI CPF UWDOKUUKQP ;QW YKNN CUUKUV [QWT ENKGPVU in audits with external auditors. In time, [QW UJQWNF FGXGNQR C FGGR ƂPCPEKCN understanding of your clients’ businesses KP QTFGT VQ CEJKGXG VJG QRVKOCN ƂPCPEKCN control and reporting. GRADUAN | 109

SHARED SERVICES

ENSURING QUALITY "Ă•Ă€ ĂŒ>Â?iÂ˜ĂŒ ĂƒÂ…>Ă€iĂƒ Â…ÂœĂœ Â…ÂˆĂƒ V>Ă€iiĂ€ Â…>Ăƒ ÂŤĂ€ÂœĂ›Âˆ`i` Ă›>Â?Ă•>LÂ?i ÂŽÂ˜ÂœĂœÂ?i`}i°

NAME 9GG ;QPI *WCV QUALIFICATIONS Bachelor in Business Administration, Southern California University of Professional Studies POSITION Function Lead – Accounts Receivable COMPANY Averis Sdn Bhd Describe your job portfolio. My current role is to oversee and supervise the Accounts Receivable (AR) Function. I ensure quality and accuracy of the delivery of the AR processes of the group within stipulated Service Level Agreement (SLA), which serves various business segments of the group across Indonesia, China, Malaysia, Singapore, and various countries around the world. I also look into continuous improvement of AR and monitor resource utilisation and resource allocation for the AR team. What is the most exciting project you have worked on so far? In mid-2013, I was assigned to lead a project team to improve the cycle time on “Export Salesâ€? process while adopting the Lean Six Sigma methodology. The project involved different stakeholders NKMG OKNNU UCNGU QHĆ‚EG UJKRRKPI CPF documentation, and sales administration department across countries like China, Hong Kong, Macau, Malaysia and Singapore. This project involves the WPFGTUVCPFKPI QH RTQEGUU ĆƒQY HTQO relevant stakeholders to develop a 110 | GRADUAN

detailed process map. It was a good exposure for me to experience front line operation. I also had the opportunity to learn about the project objectives and the working culture of different stakeholders. This provided me valuable experience and exposure in understanding different stakeholders’ needs and challenges. What are the misconceptions about this industry? Many believe that working in a shared services industry only involves routine task like data entries with limited career opportunitunities. In fact, shared services centres provide endless opportunities with challenging and interesting tasks, and activities for career development. Every team member is given equal opportunity to be involved in continuous improvement projects and also nominated for training to enrich themselves. The projects and training mainly come from modules like Lean Six Sigma, presentation skills, Fish philosopy, /5 QHƂEG UMKNN GHHGEVKXG EQOOWPKECVKQPU skill, leadership, and various other programmes.

`ÂˆĂƒÂœÂ˜ /iÂ… ĂƒÂ…>Ă€iĂƒ ĂœÂ…>ĂŒ ĂŒÂ…i iĂ?ÂŤiVĂŒ>ĂŒÂˆÂœÂ˜Ăƒ >Ă€i Â?ˆŽi ˆ˜ Â…ÂˆĂƒ >VVÂœĂ•Â˜ĂŒÂˆÂ˜} Ă€ÂœÂ?i ˆ˜ > ĂƒÂ…>Ă€i` ĂƒiĂ€Ă›ÂˆViĂƒ ÂœĂ€}>Â˜ÂˆĂƒ>ĂŒÂˆÂœÂ˜°

NAME Edison Teh, 27 QUALIFICATIONS ACCA, Tunku Abdul Rahman College DESIGNATION Regional Segment Lead COMPANY Schlumberger KL Financial Hub What is a typical day like for you? At the moment, I’m involved with a PGY ƂPCPEG KPVGITCVKQP RTQLGEV VJCV encompasses planning, migration and process improvement for a recently acquired subsidiary. I spend a lot of time with various stakeholders as part of a standardisation initiative to meet the expectation of the company’s legacy ƂPCPEKCN TGSWKTGOGPVU +V KU CNUQ ETWEKCN VQ dedicate time to my team to empower VJGO YKVJ VJG TKIJV GZRGTVKUG HQT ƂPCPEKCN analysis in a technology driven and ever changing oil and gas business environment. # V[RKECN VCUM YQWNF DG TGXKGYU QH RTQƂV and-loss and balance sheet prepared by my accountants on a monthly basis.

miles away and working in different time zones. Another common challenge would be the need to be familiar with various complex ERP systems.

What are common challenges for professionals in this industry? The main challenge for accountants in a shared services organisation is the risk of communication breakdown between our team and the regional QHĆ‚EG QWT EWUVQOGTU $GUKFGU JCXKPI VJG PGEGUUCT[ CEEQWPVKPI CPF Ć‚PCPEG UMKNNU the accountants need to understand the business needs and expectations of their colleagues who could be thousands of

What does one need to succeed in this industry? While the challenges I mentioned could be addressed by continuous learning and JCTF YQTM QPG PGGFU VQ DG EQPĆ‚FGPV KP presenting ideas and upholding values in the organisation as well as managing expectations in the best way possible. As Colin Powell once said, “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.â€?

What makes this a great job? The best thing about working in my company is the people I deal with. There are such diverse cultures that working with anyone will result in learning something. Schlumberger KL Financial Hub currently consists of employees from 40-plus countries. While tasks and deadlines can be quite demanding, with the right spirit of teamwork and motivation, I always have C ITGCV UGPUG QH HWNĆ‚NOGPV QH JQY HCT +oXG gone at the end of the day.

GRADUAN | 111

SHARED SERVICES

PREPARATION, HARD WORK AND LEARNING

One career move. Infinite possibilities. At CIMB, it’s more than just a career in banking. Whatever your background, we can help you discover yourself and find your place. With 42,000 employees serving 13.5 million customers across 17 nations, you will find abundant opportunities as you embark on a journey with us. Get a head start with ASEAN’s leading financial services franchise. t *OUFSOTIJQ 0QQPSUVOJUJFT t 5IF $PNQMFUF #BOLFS™ 1SPHSBNNF t $*.# 'VTJPO 1SPHSBNNF For more information on our graduate programmes or to apply, visit us at XXX DJNC DPN Connect with us on

www.facebook.com/cimbmalaysia

MALAYSIA INDONESIA SINGAPORE THAILAND

CIMB Group Sdn Bhd (706803-D) (7

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