GRADUAN 2015 - Finance by GRADUAN

the

2 1 1

issue

2015

FINANCE

The finance industry consistently tops the list as one of the most popular with young graduates. With its promise of exciting career opportunities, large paycheques, generous bonuses and global career paths, it isnâ&#x20AC;&#x2122;t hard to see why! In this informative and insightful guidebook, GRADUANÂŽ zooms in on Careers in Finance with focus on the accounting, capital markets, banking and risk management sectors. Make this your invaluable guide as you traverse the exciting world of finance.

TAKING IT FROM THE TOP

2015

FINANCE

Hamidah Naziadin

Group Chief People Officer of CIMB Group CAREERS & EMPLOYMENT RESOURCE FOR MALAYSIAN GRADUATES

[

FINANCE

2015

]

An insight to the ﬁnancial industry

IT’S ALL ABOUT THE MONEY Alternative Currencies in the Digital Age

RIGHT ON TARGET Setting Goals for Success

ON THE COVER

GETTING IT RIGHT WITH LIFE Doing the Right Thing with Life Insurance

Hamidah Naziadin CIMB Group Five simple rules for success GRADUAN ® Finance pg 20

Patrick Ng

Assurance Partner at PwC Malaysia

5 RULES

OF SUCCESS

HAMIDAH NAZIADIN Group Chief People Officer and Head of Group Corporate Resources, CIMB Group Holdings Berhad

graduan.com

COMPLIMENTARY COPY PP 8551/10/2012 (031187) ISBN 1394-0562

contents CHAPTER 1: CURRENT ISSUES It’s All About the Money 8

Bill Lisle

Chief Executive Officer of AIA Bhd.

Money makes the world go round. But what is money? In the digital age, it is no longer limited to the ringgit and sen in your wallet; it could be just a bunch of binary codes.

Spending Smart 11 Want to see the world, own your dream car or get that PhD but don’t have the plump bank account to get them all? Find out how you can check off those big ticket purchases now.

GST AND YOU 14

Megat Iskandar Shah

The GST is coming! What does it mean? Should you be worried? Here is a look at how this consumption tax will affect you.

Partner at EY Malaysia

Publisher Faris M Marie Managing Director Pn Elia Talib Consultant Editor Alan De Souza Editors Elaine Tan SC Chua Business Development Director Nabil Marie Special Projects Director Nada Marie

Business Development Team Nurul Wahida Samsuddin Izura Izham Editorial Coordinator Faizah Mawi Editorial Team Manna Jalil Afiq Fauzi Syuhida Silmi Contributors • Afiq Fauzi • Alice Yong • Chow Ee Tan • Emily Loh • Grace Chen • Hyma Haridas • Lauren Ling • Mel Sim • Nicolette Ng • Uma Ravi • Vivian Chong

Graphic Team Hazliza Abu Hassan Production Team Syed Rasyidi Nurul’ Aini Adnan Printer Percetakan Osacar Sdn Bhd Lot 37659, 11 Jalan 4/37A Taman Bukit Maluri Industrial Area Kepong 52100 Kuala Lumpur

CHAPTER 2: TAKING IT FROM THE TOP

CHAPTER 3: CAREER OPPORTUNITIES

Five Rules of Success 20

Accounting

Beyond Number Crunching

Accounting: Career Features

Banking

The World of Banking and Finance

A New Future

Banking: Career Features

The CIMB Group has garnered countless awards for their human resource programmes and the lady behind this success, Hamidah Naziadin, puts it down to five simple but effective rules.

An accounting degree opens up doors!

Right on Target 24 Patrick Ng, Assurance Partner at PwC Malaysia, reveals the key factors that have taken him to where he is today.

GETTING IT RIGHT WITH LIFE 28 Bill Lisle, Chief Executive Officer of AIA Bhd., gives us an insight into the life insurance industry, as well as the complex integration of AIA’s businesses in Malaysia following the insurance group’s first acquisition in its history.

Never a Barrier 32 Made Partner at just 33, Megat Iskandar Shah is a role model to aspiring young accountants seeking success in the fast-paced, demanding world of advisory services and accounting.

An exciting career awaits in the banking and finance sector... but make sure you know your stuff well! Get to know it with these fast facts. Islamic banking has grown steadily in Malaysia, creating new opportunities for bankers. It is no doubt then, why it is one of the most sought after sectors among fresh graduates. We find out what it entails and how you can be part of it with Bank Islam.

Capital Market 69

Embark on a Career with the Securities Commission Malaysia

Capital Market: Career Features

The Malaysian Capital Market Regulator

Risk Management 77

Protection that Counts

Risk Management: Career Features

Shared Services 87

GRADUAN ® is published by BIZ Connexion Sdn Bhd The Corporate Centre B7-1, Block B, First Floor Dataran Palma, Jalan Selaman 1 68000 Ampang, Selangor, Malaysia Tel : Fax : E-mail : Website :

+603 4270 3270 +603 4270 3275 admin@graduan.com www.graduan.com

PP 8551/10/2012(031187) ISBN 1394-0562

The 4-11 on Shared Services

Shared Services: Career Features

EDITORIAL POLICY All companies highlighted in GRADUAN ® hire fresh graduates. We select the companies. All articles are written by GRADUAN ® 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 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)

GROWTH AND NATION BUILDING

Career in Central Banking Bank Negara Malaysia, the nationâ&#x20AC;&#x2122;s central bank, plays a key role in bringing about monetary and financial stability, development of financial and payment systems and institution building. In achieving these objectives, the Bank places great emphasis on human capital management and talent development. We seek outstanding talent who have the desired attributes and competencies to join us for a fulfilling career in Bank Negara Malaysia.

ATTRIBUTES • Passionate about nation building • Committed to high standards of work delivery

• Knowledgeable and insightful in areas of expertise • Innovative and creative in managing adversity and challenges

Please visit : http://www.bnm.gov.my

MAKE IT COUNT Get on the fast track to a successful career in ﬁnance with GE’s Financial Management Program (FMP).

APPLY...

• Degree in accounting, business, finance and/or economics • 3.0 GPA/2nd class upper/ 70% Degree Course Average • Analytical, all-rounder, strong communication • Geographically mobile, and adaptable to cultures

START

SUBMISSION:

GE runs two intakes each year, in February and August, across their ASEAN operations including Malaysia.

TYPES OF ASSIGNMENTS:

Successful candidates will undergo an intensive two-year programme involving four rotational assignments.

LEARN...

REQUIREMENTS:

ACCEPT...

Led by senior GE professionals and mentors, trainees will develop leadership, analytical, technical, financial and business skills.

As part of a team of Corporate Finance professionals, you will undertake hands-on experience and enjoy continuous learning and development.

• Complete GE’s online application at ge.com/campusinterview

• • • • • • • • •

Financial planning Accounting Operations analysis Controllership Auditing Forecasting Treasury/cash management Commercial finance Business development

THE PROGRAMME INVOLVES:

GAIN...

FINISH

For more information, go to ge.com/fmp You can also apply online at ge.com/campusinterview

• Coursework • Intensive job assignments • Interactive seminars THE ADVANTAGES: • Accelerated career growth • Opportunity to contribute to business results • Semi-annual salary increase for good performance • Exposure to business leaders • Culture that recognises and rewards excellence

CURRENT ISSUES 2015

CHAPTER 1

CURRENT ISSUES It’s All About the Money

7 8

Spending Smart

GST and You

CURRENT ISSUES

2015 CURRENT ISSUES

2015

It’s all about the

money

Money makes the world go round. But what is money? In the digital age, it is no longer limited to the ringgit and sen in your wallet; it could be just a bunch of binary codes.

he buzz about Bitcoin has put the spotlight on alternative currencies and challenged conventional ideas about money. The good news is, money is not limited to just the paper, polymer or metal that governments

By Emily Loh

sanction; anyone – even you, yes you! – can create your own currency. But the reality is, you still need a lot of those ringgit in your bank account to get what you want.

CURRENT ISSUES 2015

What is alternative currency? The ringgit is worth something because it is backed by the government of Malaysia. That’s how currencies the world over work – from USA to Papua New Guinea (PNG). But as Paul Kemp-Robertson, Co-founder and Editorial Director of Contagious Communications, a multi-platform marketing resource, perceptively asked at his TED Talk session, “Is there a reason for governments to be in charge of money?” And the answer is ‘No’. Basically, any person or company can create a currency and use it to buy goods or services as long as someone else is willing to accept it in exchange.

You mean like Bitcoin? Yes. Bitcoin is one of the world’s most popular and best-performing alternative currencies but there are many others such as Litecoins, BerkShare and Equal Dollars. There are also alternative currencies issued by brands like Starbucks Stars, Amazon Coins and Nike’s Sweat. Credit card points and loyalty card points (B-Card, Bonuslink) function in the same way since you can exchange the accumulated points for vouchers and products.

How does it work? As you can tell, just about anything can be made into a currency. Currency typically shares similar characteristics: exchangeable, easy to carry around, easily divisible and scarce. Equally important, it must be accepted in exchange

for goods and services. If people don’t want what you have then your currency has no value. Which has happened to money issued by governments. For example, the banana money issued by the Japanese government during the occupation of Malaya lost all value when the war ended. This is what makes currencies like Bitcoin and Litecoins fascinating. Bitcoin is issued by an unknown person, not a central monetary authority like the money you carry in your wallet, and is backed by nothing. Instead, the world’s “first decentralised digital currency” is created by a peer-to-peer computer network. But it fulfils all the other common characteristics of currency – it is reasonably scarce because of the creation process, accepted as payment for various goods and services within a community, is digital, portable and easy to exchange over the Internet. In some ways, it even trumps traditional currencies because it skips the official system and with it, bank charges and exchange rates.

What about credit card and loyalty card points? Well, they can be considered as currencies too. Exchangeable, tick. Portable, check. Easily divisible, yes. Scarce, sort of. Accepted in exchange for goods and services, also check. While you can’t use these points at the wet market, they can be used in quite a number of places and can be traded for a variety of items.

CURRENT ISSUES 2015

For example, One Utama Shopping Centre has a loyalty programme called One Card. Points collected on the card is like money in the mall’s universe; you can use it to dine, buy stuff, get a haircut and so on. Likewise, your credit card points can be exchanged for a new blender, shopping vouchers, hotel stays and so on.

And gaming currencies? Within the game universe, fictional currencies can be very real! They certainly have value since they can be exchanged for resources needed to play the game.

How about virtual currencies? Gaming currencies are virtual currencies. Within a certain community where it is accepted as tender, it is currency. Zynga, for example, is Facebook’s virtual currency, which you can use to buy virtual goods in all games on the Facebook platform. To get Facebook’s Local Currency, you need to buy them with your credit card, PayPal account and many other alternative payment methods. So in the real world, it would be considered good.

Take note though, virtual currencies are a form of digital currency but the converse is not true. That means all virtual currencies are digital but not all digital currencies are virtual.

What if I wanted to start my own alternative currency? Sure! All you need is something to support your currency, like gold, and people and companies willing to use it. Don’t sweat it though if you don’t have a pot of gold to back you up because you can always trade something else, like time. You might remember being rewarded with stars for good behaviour as a child and when you had collected enough stars, being allowed a privilege like TV time or ice-cream. That is a time-based alternative currency, acceptable within the community of your family. Time Dollars and Ithaca HOURs work on this principle. For example, if Sam in Ithaca, New York, cleans his neighbour’s house. He gets paid an HOUR (which is one unit of the Ithaca HOURs currency), which he can then use to buy lunch at a neighbourhood café.

alternative currencies • Litecoin • Namecoin • Peercoin

Brands with their own currencies • • • •

Starbucks Amazon Nike Tide

Virtual and gaming currencies

• Zynga by Facebook • Linden Dollars for Second Life • World of Warcraft currencies

CURRENT ISSUES 2015

Smart

Spending

Want to see the world, own your dream car or get that PhD but donâ&#x20AC;&#x2122;t have the plump bank account to get them all? Find out how you can check off those big ticket purchases now. By Emily Loh

CURRENT ISSUES 2015

o you have started making your own money. Congratulations! You are now financially independent! Now is the time to get those big ticket items you have always wanted but couldn’t afford. We take a look at some of the wants on most young executives’ list and how to make these dreams come true – with a little help from the bank.

Item : Car Method : Car loan Unless you can afford to pay for your new set of wheels with cash, a car loan would be your choice of financing. • How much can I borrow? Typically you need to pay a down payment of 10 per cent of the purchase price but car manufacturers do offer 0 per cent promotions, which means you can take a loan for the full purchase price. • How long is the loan term? Most banks offer a five- to nine-year tenure although you can shorten the term to your preference. • What is the interest rate? Interest rates on car loans are fixed for the term of the loan. But the rate charged depends on the car type, model, loan amount and loan tenure, and varies between lenders.

Tip!

Check out graduate schemes offered by banks like Maybank that cater to fresh graduates below 30 making their first car purchase. Interest rates are higher but qualifying requirements are easier and a guarantor is not needed.

Remember! • The higher the loan amount, the higher the total interest paid. • The longer the loan term, the lower the monthly repayments but the higher the interest paid. • Interest rates are lower on new cars than reconditioned and used cars.

Item : Epic holiday Method : Credit card + Savings Most people have an epic journey on their to-do list – backpack across Europe, see the Seven Wonders of the World, sleep under the stars in Africa, explore the Amazon. Financing this life-changing trip, however, will put a huge dent in your bank account!

CURRENT ISSUES 2015

Pay what you can with a credit card – e.g. flights, hotels and insurance – and save your cash for expenses you will incur at your destination – e.g. meals, tour guide and entry tickets. This allows you to conserve precious cash resources and pay off your debt when you are back in the grind. You can also apply for a personal loan but do note that the interest charges, like the credit card, can be hefty. Set aside money for the minimum repayment on your credit card to avoid additional charges.

Tip!

Item : Dream wedding Method : Personal loan versus credit card Put aside the taboo of starting wedded bliss in debt. If you and your partner have your hearts set on saying ‘I do’ on a cliff overlooking a beach in Bali, you are going to need some (or maybe a lot!) help from the bank. Even a modest event can be costly. So, should you finance this with a personal loan or credit card? Interest on personal loans can be lower than the credit card, and the amount you can get here is usually higher. But credit cards offer more flexibility in repayment and interest is calculated on outstanding amount, which means the sooner you settle your debt, the less interest you pay. If the credit limit on your credit card is less than your wedding budget then go with a personal financing loan.

Tip!

Item : Further education Method : Education loan You want to broaden your mind and add another feather to your cap but dad and mum have made it quite clear they are not paying for another degree. Well, the good news is that there are quite a lot of financing options for you knowledge-thirsty folks – from the governmentbacked Perbadanan Tabung Pendidikan

Tinggi Nasional (PTPTN) and governmentlinked initiatives like Maybank’s Skim Prihatin Pendidikan 1Malaysia (SPP1M) to education loans offered by banks. Interest rates range from as low as one per cent to over eight per cent. There may be also other terms and conditions imposed by the loan scheme such as the type of institution (e.g. public versus private). Did you know Jabatan Perkhidmatan Awam (JPA) offers interest-free education loans for students pursuing their degree abroad?

Tip!

Item : House Method : Housing loan Buying your first property is a big milestone and possibly your largest financial commitment for a while. Here are the things you need to know about: • Type of loan: Housing loans generally fall under two categories: Traditional term loan and flexi-loan. The former has a fixed repayment over a period of time. The latter is tied in with a current or savings account, and reduces in interest on the loan based on the balance in the account. • Interest rate: Banks offer different rates and it is easy enough to do a comparison on certain websites. Interest is calculated based on the BLR (base lending rate) plus the interest rate offered by the bank. So for example, if the interest rate is BLR (which is 6.6 per cent) minus 2 per cent, the applicable rate will be 4.6 per cent. • Margin of finance: This refers to how much you are able to borrow from the bank. This is dependent on the price of the property, type of property, location and your profile (e.g. income level, age). Most banks will offer a margin of up to a maximum of 80 to 90 per cent. SaveMoney.my suggests you find out how much you are eligible to borrow from the bank before going property shopping.

Tip!

CURRENT ISSUES 2015

GST and You The GST is coming! What does it mean? Should you be worried? Here is a look at how this consumption tax will affect you. By Emily Loh

What is

GST?

What it is

not… Is VAT another

new tax? 6% 1 April

The Goods and Services Tax is a broad-based consumption tax levied on goods and services at each stage of the supply chain. The Government Services Tax, which is also referred to as GST. This is only done in Malaysia; internationally GST refers to the soon to be imposed Goods and Services Tax. You might have noticed an additional six per cent added to your bill when you dine out? That is the Government Services Tax. But the GST will give this (and the Sales Tax) the boot. VAT stands for value-added tax. It’s just another name for the GST.

The rate of the GST.

2015

D-Day for the GST to kick off.

900

Number of basic items that will be zero-rated.

No GST

• RON95 petrol • First 300 units of electricity • Water supply • Public transport • Fruits, vegetables and meats • Rice and selected grains

• • • •

Breads, cakes and pastries Pasta and noodles Spices Books, newspapers and journals

CURRENT ISSUES 2015

What is

One means the GST charge is zero, the other refers to items that are subjected to the GST. As a consumer, it means you will not be charged any GST. But the final price of exempted items might increase because the GST paid by businesses could be embedded into the selling price.

the difference between zerorated and exempted items?

Will I have to

No you won’t. Prices of coffee and a number of things will remain unaffected. Prices of some things may even drop because the 10 per cent sales tax will be replaced by the GST.

pay more

for my coffee?

GST Causes Price Increase? 6% Service Tax and No GST

Service Tax Abolished and 6% GST

Manufacturer

Manufacturer RM10

Received:

Manufacturer Price: RM10

Coffee Shop

RM5

Selling Price: RM15.90

RM10 RM0.60 Tax RM0.60 Manufacturer Price: RM10.60 (RM10 x 6%)

Received:

Coffee Shop

RM0.90 RM10

Profit:

Tax RM0 (No Tax)

RM0.90 (RM15 x 6%)

Profit:

Your Coffee

RM0.60 RM10

RM0.30

RM5

Selling Price: RM15.90

RM0.30 (RM5 x 6%)

Your Coffee Retail Price = RM15.90 Total Tax = RM 0.90

Retail Price = RM15.90 Total Tax = RM 0.90

So prices will

Well, no. If an item was not taxed under the Sales and Services Taxes but now falls under the GST, you will have to pay more for it. Also prices of items under the exempted list might go up if businesses decide to increase their selling price.

But help is

available

• Going down: Personal income tax. You might not have to pay taxes; that means more money in your bank. • + BR1M handouts of RM300. Check if you’re eligible!

Who else

160 countries around the world do. Our closest neighbours that are already on the bandwagon include:

stay the same?

pays GST?

• • • • • •

Indonesia Thailand Singapore China India Japan

Highest

rate

27% in Hungary.

Lowest

rate

5% in Japan and Taiwan.

• • • • •

Pakistan South Korea Taiwan Australia New Zealand

The Best Start Nestlé, A Great Place to be for Young Professionals A Master of Science degree in Economics laid the foundation for Martin Kruegel to explore a rewarding career in the world of Finance. Kruegel began his career in Nestlé Germany in 1995 where he held various Supply Chain, Finance, Accounting and Controlling roles. In 2006, he was transferred to Nestlé Nordic as Finance Manager Cereal Partners. The exposure gained throughout those years marked a milestone in 2008, when he was promoted to the position of CFO in Nestlé Nigeria, in which he played a strong co-pilot role in operational and strategic business decisions where the market realized sustainable sales growth and profit improvement. He was also instrumental in significantly improving relations with shareholders and in developing a strong F&C Team. These different roles have provided a strong foundation for Kruegel to lead and oversee

this fast growing business especially in the many areas of finance. This led him to Nestlé Malaysia, where he was appointed Executive Director of Nestlé (Malaysia) Berhad the Company on 1st October, 2014.

“This allows our employees to

build relevant global experience into becoming a well-rounded finance and accounting

professionals to one day take on a senior leadership role within the Business”

Having served various Nestlé markets around the globe, Martin has worked in different finance environment and with him, he brings best practices to share with Nestlé Malaysia. That being said, in the 3 months Kruegel has been with us, he has great things to say about the finance team in the Malaysia Market. “The Finance and Control (F&C) function in Nestlé is strategeically structured and organised with the aim 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. This F&C function serves as a catalyst to accelerate Nestlé’s performance, and Finance employees act as partners and co-pilots 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,” Kruegel explains. For the young professionals, a key advantage in joining Nestlé Malaysia’s F&C function especially through the Nestlé Management Trainee Programme is that this programme offers finance and accounting graduates a comprehensive on the job learning exposure across all the divisions within Finance, such as Accounting & Consolidation Support, Commercial Control, Credit Control, Audit, Tax and exposure as a factory cost analyst throughout the 2 years of the programme. “Through this accelerated leadership programme and the extensive level of exposure given, this allows our employees to build relevant global experience into becoming a well-rounded finance and accounting professionals to one day take on

“As part of a multinational group, we develop our people through on-the-job experience as well as local and international training” a senior leadership role within the Business” says the Excutive Director of Finance & Control. Kruegel 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 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. Nestlé is an organization that cares for its employees and their development. I urge you to explore a career with Nestlé and I look forward to welcoming you into Nestlé, especially to our Finance & Control family.

JOIN INTEL MALAYSIA FINANCE Intel Malaysia Finance is the largest Intel Finance organization outside of the US and is an exciting place to build a professional career. Our Finance charter is to keep Intel legal, maximize shareholder value, safeguard our assets, while delivering world-class services & developing world-class leaders. People Development is the cornerstone of our success with many programs focused on training & development, job rotation, networking and project assignment with access to senior coaches and mentors. We look for Finance professionals who have strong curiosity for our business and technology, with strong technical and analytical skills to join us for following positions :Finance Intern • Gain your work experience owning short term projects including financial analytics to assist on key business decisions with various business groups. • Be part of the team in closing the books to maintain accurate financials, compliance & providing management reports for Intel. Business Analyst - Finance • Develop financial budgets, evaluate cost affordability & return on investment decisions. • Partner with operations to run cost reduction and resource optimization initiatives. • Provide financial advice and recommendation that influence business decisions at various levels of the organization. Locations: Penang (Bayan Lepas) and Kedah (Kulim)

Business Analyst - Accountant • Prepare monthly accounting close (include preparing and posting journal entries, analyzing financial statements and variance analysis), balance sheet reconciliations and ensure timely payments. • Ensure full compliance to local accounting standards and US GAAP for US reporting purposes. Support both internal & external audit queries. • Involve in continuous process improvement and partner across various function groups, such as Tax, Treasury, Global Accounting and Operations Finance. Learn more about exciting Job Opportunities at www.intel.com/jobs/malaysia Submit Your Resume To: Malaysia.Finance.Recruitment@intel.com

1 9 TAKING IT CHAPTER 2

FROM THE TOP Five Rules of Success

Right on Target

Getting it Right with Life

Never a Barrier

TAKING IT FROM THE TOP 2015

FIVE RULES OF

SUCCESS The CIMB Group has garnered countless awards for their human resource programmes and the lady behind this success, Hamidah Naziadin, puts it down to five simple but effective rules. By Vivian Chong

er designation is a mouthful and it says a lot not only about Hamidah Naziadin but also the CIMB Group, of which she is Group Chief People Officer. Clearly, Malaysiaâ&#x20AC;&#x2122;s second largest financial services provider emphasises human resources as one of their most important assets, and Hamidah ensures that the philosophy is well implemented.

Malaysia and also in the region. Besides the aforementioned designation, Hamidah also holds regional responsibilities for Group Human Resource, Group Administration & Property Management, and Sports & Recreation. She also oversees the Commerce Leadership Institute and corporate responsibility initiatives of the Group.

In the last 23 years, she has spearheaded various human resource strategies and executed programmes to award-winning effects in

It certainly seems like Hamidah has her work cut out for her, but the law graduate from the University of Wolverhampton, United Kingdom,

TAKING IT FROM THE TOP 2015

has taken it all in her stride and produced stellar results. In 2013 alone, the CIMB Group was honoured with no less than three major accolades, including the Life At Work award that recognises women-friendly employers. The Group was also named one of the Best Companies to Work for in Asia by HR Asia, while their CIMB Asean Stock Challenge was named the Best Innovation on Campus at Malaysia’s 100 Leading Graduate Employers Awards Night. CIMB Group was named one of the 50 Leading Companies for Women in APEC in 2014. How does Hamidah balance her multiple responsibilities and execute the Group’s human resources objectives? “I would like to offer five rules that are applicable to anyone at any stage of his career. Practised sincerely, they will make a difference in one’s life and career, and in the lives of others,” she reveals. It begins with one virtue that is increasingly lost in today’s society: Honesty. Having the integrity to consistently live out one’s beliefs and act them out requires a strong moral compass and courage. “Success that’s built on a hollow foundation of quick wins, short cuts, loopholes, or even criminal means like bribery is hollow and falls apart eventually,” Hamidah emphasises. “A good leader must subscribe wholly to integrity, even if it may mean shortterm delays or setbacks. Someone once said there is no courage unless you are afraid. Standing up for what is good and right is not always easy, but it is the most dignified way of living and leading others.” Hamidah stresses another integral but oft-forgotten trait – mind your Ps and Qs. “A grateful heart comes from an attitude of humility. Start with words that reflect those values. As we repeat more ‘please’ and ‘thank you’, we can infect others and even change our own attitude. It’s not only courtesy but also a mark of respect for the other person, be it your peer, supervisor or subordinate.”

TAKING IT FROM THE TOP 2015

“A good leader must subscribe wholly to integrity, even if it may mean short-term delays or setbacks. Someone once said there is no courage unless you are afraid. Standing up for what is good and right is not always easy, but it is the most dignified way of living and leading others.” Such words, she believes, motivate and affirm others while reminding us to be humble. Even better if you add the person’s name after your requests or thank yous, and Hamidah points out that this also applies to digital forms of communication including Whatsapp and text messages. Just as important is being generous with one’s knowledge, contacts and words of encouragement. Likewise, when you need to correct another, be generous in your estimate of the other person’s efforts. “One of the key critical behaviours of our CIMB culture is to recognise each other’s efforts, and always back each other up,” she reveals. “Be generous with your listening too. You may not have the answers, but listen anyway. By listening, you harness people’s energy and ideas. And you will learn too.” Hamidah goes on to cite the late Arnold Henry Glasgow, a famous American businessman and author who once said, “A leader takes a little more than his share of blame and a little less

share of the credit.” Another author she draws inspiration from is Marshall Goldsmith, whose motivational book What Got You Here May Not Get You There epitomises her next rule: Boldly embrace change. As she points out, change is the only certainty. There are always new business priorities, the markets change, companies hire new staff and incorporate fresh dynamics. “Success of the past must not lull us into thinking we are invincible or are more important than we are. Forging new grounds requires thinking out of the box, and acting beyond conventions. When you embrace change, you are able to recognise opportunities and the good in people and situations,” Hamidah says. Putting that into practice, during an economic downturn, Hamidah initiated a Staff Rejuvenation Programme whereby instead of downsizing the work force, employees were encouraged to take a break while the company managed costs. The programme proved so popular that they have maintained it.

TAKING IT FROM THE TOP 2015

The Group also introduced a project called CIMB Fusion, in which employers join hands to provide fresh graduates the opportunities to work with two world-class companies, one of whom is CIMB. “The idea came up because of stiff competition among employers for good graduates. We turned competition into collaboration. Today we have expanded our partners from one to six from different fields,” she reveals. CIMB Fusion also won the Best Management Trainee/Graduate Programme at the Malaysia’s 100 Leading Graduate Employers Awards 2014. The final rule that Hamidah subscribes to is this: The harder you work, the luckier you get. “Skills, personality and ambition play their part but it also requires a lot of hard work,” she elaborates. “Leadership skills are honed in real life, and often at inconvenient times such as during a crisis. Step up to the challenge and take charge when opportunities arise. These often involve unchartered territories or areas of work you may not be most familiar with and sacrifices. If you fear hard work, becoming a leader is just wishful thinking.”

If I wasn’t doing this, I would love to be “A restaurateur specialising in haute cuisine.” My top three mentors “First, CIMB Group Chairman Dato’ Sri Nazir Razak, who was visionary enough to recognise the value of human resource in the success of an organisation. My close girlfriend ‘Tim’ who is a great supporter and confidante. And my husband Johari, who believes in me and has stood by me all these years.” The best advice given to me “Jadilah seperti padi, semakin berisi, semakin menunduk. This peribahasa was emphasised at a leadership programme at my first job. Literally, it says: ‘Be like paddy. As it ripens, its stalks bow deeper.’ What it means is as one becomes more knowledgeable and advances in the corporate ladder, one should also become more humble as exemplified by the bending of the paddy stalks. It is a reminder to always be humble.”

TAKING IT FROM THE TOP 2015

RIGHT ON TARGET

Patrick Ng, Assurance Partner at PwC Malaysia, reveals the key factors that have taken him to where he is today. By Vivian Chong

rom boy to man – that’s how Patrick Ng describes his 22-year journey with professional services firm PwC Malaysia during which he steadily ascended the corporate ladder to his current position as a Partner. “It has equipped me with all the right skills, on both personal and professional levels,” he says. “That includes communication, leading people, marketing, risk management and quality control.” For someone who had not planned on a career in accountancy, his success is a study in determination and having the acumen to strike while the iron is hot. What has also helped him along is his positive attitude, sparkling personality and sharp focus. Patrick started working in Australia upon completing his studies there. Returning to Malaysia in the early 90s, he joined a stockbrocking firm as that was his initial ambition. While working in the securities industry, he consulted his aunts and uncles on what would be a wise career move at that

time. “They all worked at PwC and suggested that I join the firm as well. I thought, why not? It’s a recession proof industry, so I left the stockbroking firm and gave myself three years before going back.” But the best laid plans of men and mice often go awry and in Patrick’s case, clearly life had better intentions for him. In those first three years with PwC, he embarked on an amazing learning curve that exposed him to different things each day, and provided the chance to work with and learn from a diverse group of people. “The firm’s Partners were all highly dynamic individuals and were looked upon as demigods. I asked myself if I wanted to be at their level, and worked towards it.” He also had the fortuity to work with a leisure hospitality client, which opened the doors to global travel and through that, the opportunity to observe and learn the varied business practices in different countries. Patrick is quick to point out that not unlike life itself, it has been a roller coaster ride with its share of ups and downs. Just as daredevils get

TAKING IT FROM THE TOP 2015

“Often, people complain about their jobs being mundane or routine but they don’t realise that the time and effort you put in practice will determine your results in the actual situations.”

an adrenaline rush out of the conquering the exhilarating rides, Patrick has enjoyed every step of the way, even the most frustrating times as it is those challenges that have afforded him tremendous growth opportunities. “I learnt the most when I made the biggest mistakes,” he admits. “Early in my career, I have gotten slapped in the face by a superior, so to speak. I made sure not to become bitter from those experiences but to get better.” Most of all, he says, one must be hungry for success. His main goals are fairly straightforward: Health, followed by wealth. “I want to make it in life so that I can enjoy good food, care for my well-being, see the world and provide for my family.” Clearly, he has hit the aim and that’s something Patrick emphasises a lot: The importance of setting and meeting targets, both short-term and long-term. It’s a trait that’s been in him since he was a schoolboy. He recalls wanting to become a prefect as he admired the smart outfits and leather shoes that came with the role. True to his determination, he made it to the prefectorial board when he was in high school. An active athlete, he represented his school in running and tennis among other sports. That too, he says, has inculcated much of the positive values that he continues to hold dear, and that has helped shape his direction at work and in life. In fact, he sees a lot of similarities between sports and business. “Look at Maria Sharapova. She had been hitting tennis balls for hours at a stretch, day in and day out before achieving

success,” Patrick cites as an example. “Often, people complain about their jobs being mundane or routine but they don’t realise that the time and effort you put into practice will determine your results in the actual situations.” Patrick also draws parallels between being a sports coach and the part of his job that involves mentoring the firm’s young employees as both are about bringing out the best in people. “I don’t want to be a kungfu master and take it all to the grave. I enjoy sharing my skill sets with the younger ones as they are the ones who will shape the future. Imagine if Alexander Graham Bell had not passed on his know-how, we would not be using mobile phones today!” Patrick says, adding that mentoring is a two-way learning process that both parties benefit from. “I share with them what I have learned from being in this industry for over 20 years, and in turn, they let on what they know, especially in relation to what’s ‘in’ today, such as new technology. In this day and age, you get phased out if you can’t come to grasp with what’s happening around you, as things change so quickly.” “There’s no point in beating down the generations after yours. Every generation is brought up differently,” he opines. “Our forefathers, for example, did not emphasise education as much as hard work, an approach that is not shared by my generation. There is no good or bad, things will find a way of working out and the scales will eventually be tipped to balance.”

TAKING IT FROM THE TOP 2015

Quick takes Favourite read “I used to read Jeffrey Archer a lot but I don’t have much time to spend on books anymore – except maybe on children’s books with my daughter!” Best advice ever received “My uncle told me that the most important thing is to stay focused because life will throw you many distractions but if you keep yourself on track, you will get where you want to. Looking back, the advice has certainly served me well and so it’s a principle I still hold on to.” If I wasn’t doing this I would be... “Definitely an entrepreneur! I can’t say for sure what type of product or service but I would definitely be a business owner.” Top three advice to young job seekers “Be in the action, get involved. Life is a roller coaster with its ups and downs, but enjoy the ride and continue to learn. That’s how you keep improving. Set realistic targets and stay focused.”

GETTING IT RIGHT WITH LIFE Bill Lisle, Chief Executive Officer of AIA Bhd., gives us an insight into the life insurance industry, as well as the complex integration of AIA’s businesses in Malaysia following the insurance Group’s first acquisition in its history.

hen AIA Group, the world’s fourth largest insurer, took over ING’s businesses in Malaysia in 2012, AIA Bhd.’s Chief Executive Officer, Bill Lisle, found himself at the helm of one of the most complex business integration efforts the Malaysian insurance industry has ever seen. “Integrating two large companies is no easy feat,” recalls Lisle. “There were many regulatory requirements as well as consolidation of various products and processes that we had to complete in order to successfully achieve a single license – and we did it successfully within

just six months. Looking back, I am immensely proud of what the team was able to achieve in such a short span of time.” The “new” AIA in Malaysia was bigger and much better positioned than before with 2.6 million customers, 16,000 agency members and 2,300 employees located nationwide. In addition to products, operating systems and processes that had to be integrated, there was a lot of change management involved in merging two different cultures. And it was against this backdrop of transformation that AIA Bhd. was rebranded as The Real Life Company.

TAKING IT FROM THE TOP 2015

A JOURNEY OF TRANSFORMATION

DOING THE RIGHT THING

The integration of AIA’s businesses and the launch of The Real Life Company brand position in Malaysia gave the company the opportunity to transform the way it operated. The traditional life insurance business was looked at with a fresh pair of eyes. Taking a cue from the banking sector, Lisle and his team decided that they needed a renewed focus on AIA’s customer experience as well as adoption of technology.

Lisle believes that the life insurance industry is one of the most rewarding industries in the financial services sector. “When all other financial providers take money from you, we are the only ones that give it back. We are in the business of helping people when they need it the most,” Lisle says.

“While many banks in Malaysia have improved their front office experience and made full use of digital technology, insurance companies have much room to improve in this respect. We saw the opportunity for us to take the lead here, and today AIA is at the forefront of shaping sales interactions with customers with the use of a game-changing technology called the Instant Mobile Office. We were the first insurer in Malaysia to introduce the iPad-based sales tool. We find that the investment, while risky, had paid off, and we are ahead of the game thanks to first mover advantage. Today, most of our Life Planners can engage with our customers using only an iPad, thus eliminating manual forms and the need to commute, but more importantly, transforming the customer experience. This is just the first step of many, and we will continue to invest in digital technology,” he shares.

One experience that is close to his heart was the MH370 tragedy. “The senior leadership team happened to be on an away-day when we received news of the plane’s disappearance. I was so inspired by my team, who collectively decided to brainstorm on how we could help the families affected by the tragedy,” he recalls. With uncertainty looming in regards to the location of the ill-fated plane, the team at AIA decided to pay out claims to the families of the insured, so that they didn’t have to worry about their source of income in the months following the tragedy. “In the midst of all the planning, we received news that one of our Life Planners, Christine Foong, was also onboard the plane,” he recalls. “That was particularly hard for all of us, but we were so relieved and grateful that Christine was well-covered, as she had insured her life and her children’s education. So when I passed the cheque to her husband, it was a poignant

TAKING IT FROM THE TOP 2015

“We have a saying at AIA: ‘I will bring the best of me to work every day, so that when the best of me is called, the best of me will respond.’” moment; no amount of money in the world could bring Christine back, but at least her husband and children could carry on their lives without any financial burden brought about by her death.” A few months later, when Malaysians learnt of the second MAS tragedy involving MH17, AIA again took the lead in waiving clauses relating to terrorism and war, to be the first insurer in Malaysia to pay out the claims to the families of its policyholders who were on the plane. “It is events like these that remind our employees that life is full of uncertainties, which is why our role as a life insurer is so important,” Lisle says.

THE RIGHT ENVIRONMENT “People are at the heart of our business, and our employees are the lifeline of our organisation,” says Lisle. “During the merger exercise, it was only natural that there was some level of complexity when it came to people management due to insecurity, trust issues and stress over added responsibilities due to the integration.” To boost morale during the transition, and to create a sense of camaraderie amongst the newly-united workforce, AIA refurbished its offices to create a vibrant and energetic work environment that facilitated interaction among employees. A fully-equipped gym, a state-ofthe-art recreation room and a vibrant café are some of the new features that employees now enjoy at work.

Lisle says, “We wanted to create an environment where our people could get to know each other and build meaningful relationships. In addition, our offices were also designed in a way that removed barriers between people, to give our staff the confidence to express themselves freely and not fear challenge.”

developing the right people Lisle and his team have fully leveraged on the integration and subsequent transformation initiatives to create a high-performance culture anchored on AIA’s Operating Philosophy of “Doing the Right Thing, in the Right Way, with the Right People”. “We must believe in what we do and why we do it. Our operating philosophy is a reflection of our purpose, which is to drive social and economic development in Asia,” says Bill. “As the leader of AIA Bhd., I have to live and breathe the purpose of the organisation, and lead by example. It is this purpose that serves as our guiding light, and it has kept all of us going during the all the challenges of integration.” Lisle believes that a good leader is one who trusts and empowers his people. “My people have my trust. If I’ve hired them, they have it. They can only lose it,” he says. “I am proud to say that there is nowhere else I’d rather be right now than at AIA Bhd. as I am blessed with a great team of people who share our values and philosophy.”

ADVICE FOR YOUNG GRADUATES “We have a saying at AIA: ‘I will bring the best of me to work every day, so that when the best of me is called, the best of me will respond.’ If you bring the best of yourself to work every day, you will be well positioned to grab the opportunities that come your way. No task is too insignificant that you don’t have to give it all you’ve got. If you apply this philosophy, not just at work, but at home and with your friends, you will achieve holistic success,” concludes Lisle.

TAKING IT FROM THE TOP 2015

Never a Barrier

Made Partner at just 33, Megat Iskandar Shah is a role model to aspiring young accountants seeking success in the fast-paced, demanding world of advisory services and accounting. By Elaine Tan

hile a lot of accountants end up where they are by chance or due to parental guidance, Megat Iskandar Shah, Partner at EY Malaysia, always knew he wanted to be one. “My father was a chartered accountant so I was inspired by that. And I also saw it as the best training ground,” he explains. “Admittedly, it is probably not the first choice for most. I think the first response to accounting is that it is boring but hopefully that message will change and people will realise we are quite exciting people doing some impressive stuff.” On his father’s advice, Megat pursued a degree in economics at the prestigious London School of Economics in the United Kingdom. “My dad told me, ‘If you are going to be an accountant for the rest of your life, try to do something different for your degree.’ So I chose economics and I believe it has benefited me. It is relatable

to accounting and yet provides me with a different perspective in my work.” Upon graduating, he joined Arthur Andersen in the assurance division as a staff assistant. Shortly after the firm merged with EY, Megat was offered an incredible opportunity to be posted to the London office of EY as a first year senior. He spent six years in London, moving up the ranks as a final year manager, before he decided to move back to Kuala Lumpur. “I was offered a senior manager role in London but Dato’ Abdul Rauf Rashid (Country Managing Partner of EY Malaysia) painted a very exciting picture for me back home. So for that and family reasons, I decided to move back,” says the ICAEW (Institute of Chartered Accountants of England and Wales) member.

TAKING IT FROM THE TOP 2015

“Focus on the first 10 years of your life because this period will map out what you want to become in the next 30 years.” Megat returned to the KL office as a senior manager and worked his way up to director and then, Partner – one of the youngest to be appointed by the firm. He attributes his meteoric rise to the usual suspects: Hard work, willingness to learn and being a team player. Work-life integration, he says, has also been crucial for thriving in the fast-paced and demanding world of assurance services. “Because of the working environment in Malaysia, it is important to be able to integrate your life outside of work with your career aspirations. For example, my daughter has a sports day this Friday so I’m taking the morning off to be there. But I’m back in the office in the afternoon to attend meetings, review work, meet with colleagues… That’s work-life integration,” explains the father of two, who keeps weekends sacred and workfree, and pulls his weight as the designated driver. “If you try to promote this more and more throughout your career progression, it will help you avoid resentment and burnout. The more you can keep the passion burning both on the work front and non-work front, I think the easier it will be for you to manage challenges and move up in your career.” Mentors also played a key role in Megat’s career. Apart from his father who has inspired and steered him into this path, he says he has also been deeply influenced by Dato’ Rauf. “When I came back from London in 2008, Dato’ Rauf kept giving me new challenges. He exposed me to various industries, top clients, and cutting-edge assignments. He kept me on my toes and gave me opportunities to forge new relationships while building myself to become a better person.” Being only in his third year as a Partner with EY, Megat says he’s just getting started on an exciting journey. “Life as a Partner is a totally different ball game. I would say my first year as

a Partner was an eye-opener. Now there is no one to fall back on! I’m the person in charge of engagements. So it is quite exciting.” Megat’s goal for the next chapter of his career is to “make sure the firm is in a better stage compared to when I first started as a Partner. The career path within the partnership is limitless. It’s up to you to drive your career but the important principle is to bring the firm to the next level as and when you progress.” To fresh graduates, he imparts the words of wisdom he learned from a Senior Partner at EY Malaysia on the 40-year career life concept: “Focus on the first 10 years of your life because this period will map out what you want to become in the next 30 years.” In this critical decade, he says young graduates should focus on three things: Look for a firm that provides you with the best opportunity to learn; remember you are most able at 20 to 30 and also at your most passionate and energetic; and identify your passion, then zero in and try to succeed. “Today’s graduates, compared to say my peer group, appear to be much smarter and much more exposed to soft skills. Taken together and used in the right way, they have the formula for a successful career,” he concludes.

• Describe yourself: “I like to think I’m approachable. As a younger Partner, I hope I come across as being more relatable and open.” • Career highlight: “The most memorable moment, of course, was when I was informed I would be made a Partner.”

DE LOITTE

Your time to shine. Deloitte is a dynamic organisation. The world’s largest professional services organisation, in fact. We offer unrivalled international mobility possibilities, challenging work, merit-based career paths with leadership opportunities and world-class learning and development. But more than that: we offer a chance to define your career, your way. A chance to get involved in giving back to the community through volunteering programs. A chance to play sports, join clubs and have fun with like-minded people. Ultimately, we give you a chance to shine. This is our Deloitte. What’s yours?

Connect with us: FINALIST CONSULTING

2014

facebook.com/mydeloitte twitter.com/deloittemy youtube.com/user/deloittemalaysia1 linkedin.com/company/deloitte-malaysia

CAREER OPPORTUNITIES 2015

CHAPTER 3

career OPPORTUNITIES Accounting

Banking

Capital Market

Risk Management

Shared Services

www.pwc.com/my/careers

The experience stays with you

Assurance Consulting Financial Advisory Tax Technology facebook.com/pwcmsia twitter.com/PwC_Malaysia pwc_malaysia

To get the best from your career you need the best opportunities. Opportunities to grow as an individual, to build lasting relationships and make a positive impact on our clients and people. The skills, insights and connections you develop at PwC are career defining. Talent, hard work and opportunity. You provide the first two, we’ll take care of the rest. It’s an experience that will stay with you. Live it.

HR Excellence Awards 2014 * Excellence in Employer Branding * Excellence in Recruitment & Retention Strategy * Excellence in Corporate Social Responsibility * Excellence in Social Media & HR Technology Malaysia’s 100 Leading Graduate Employers Awards * Malaysia’s Graduate Employer of the Year (2013, 2012, 2011, 2009) * Ranked No. 1 in the Consulting Sector (2013, 2011) * Ranked No. 1 in the Accounting and Professional Services Sector (2013, 2012, 2010, 2009, 2008) “Best Service Provider for Business Continuity Management (BCM)” - Disaster Recovery Institute (DRI) International Graduan Brand Awards 2012 - #1 Preferred Employer (Accounting) © 2015 PricewaterhouseCoopers. All rights reserved. “PricewaterhouseCoopers” and/or “PwC” refers to the individual members of the PricewaterhouseCoopers organisation in Malaysia, each of which is a separate and independent legal entity. Please see www.pwc.com/structure for further details. CS07393

ACCOUNTING 2015

CAREER OPPORTUNITIES

ACCOUNTING

Beyond Number Crunching

Accounting: Career Features

ACCOUNTING 2015

Beyond number

Crunching By Emily Loh

CAREER

PATH

Career path

An accounting degree opens up doors! Public practice

• • • • • • •

Audit and assurance Business recovery Taxation services Corporate finance Forensic accounting Accountancy services Company secretarial services

Commerce and industry

• Business assurance manager • Risk manager • Compliance manager • Internal auditor • Business unit controller • Financial analyst • Cost accountant • Systems analyst • Business support manager • Financial or management accountant • Financial controller

(Source: The Malaysian Institute of Certified Practicing Accountants)

Public service

• Accountants in the Accountant-General’s Office • Treasury accountant • Finance officer • Tax officer • Government auditor • Academician

ACCOUNTING 2015

RM42,000 - RM48,000 The average yearly salary of graduate accountants (excluding bonus). (Source: The 2014 Hays Asia Salary Guide)

Show me the money! Here’s the kind of moo-lah you can expect armed with an accounting degree: Fresh graduates/Entry level RM2,000 Senior Executive RM4,650 Senior Manager RM8,500 (Source: JobStreet.com Salary Report)

48 hours/week Average working hours of CIMA (Chartered Institute of Management Accountants) members in Malaysia.

Big names in accounting • Deloitte

• BDO

• KPMG

• Grant Thornton

• PwC

• Ernst & Young

60,000

Accountants are needed in Malaysia by 2020.

30,000

The number of registered accountants with MIA as at 2013.

We need more accountants!

Singapore, which has a population of just five million, has the same number of accountants as Malaysia while Australia has 100,000 accountants to its 28 million population.

ACCOUNTING 2015

NUMBER 5 Accounting and finance jobs are the fifth hardest to fill in 2014 according to Manpower Group’s survey on global shortage of talents.

There are slightly more women than men accountants in Malaysia.

51% women, 49% men

(Source: MIA)

Skills needed to succeed in accounting • Organisation • Communication

• Time management • Openness

• Adaptability • Leadership

(Source: Talent Egg, talentegg.ca)

“Malaysia’s accountancy and finance jobs market is very buoyant and job rich. Much like Singapore, the country is experiencing high demand for quality finance professionals. This continued demand impacted salaries over the past year and saw individuals achieve high increases when moving jobs.” (Source: The 2014 Hays Asia Salary Guide)

Accountants in demand 1. Romania 2. United Arab Emirates 3. Singapore 4. Malaysia

5. China and Hong Kong 6. Australia 7. Mauritius 8. Vietnam

9. Switzerland 10. Pakistan (Source: Economia)

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.

ACCOUNTING 2015

Never A Dull Moment

The senior associate at BDO shares why her role has opened up opportunities and new life experiences for her. Nur Atikah Paimin was an electrical engineer in Tenaga Nasional Berhad for more than two years before taking a plunge into the financial sector. Under the Yayasan Peneraju Scholarship for Professional Accountant Programme, she is pursuing the professional accountancy qualification with the Institute of Chartered Accountants in England and Wales (ICAEW) while working at BDO.

A career path that offers professional advantages

“Having the technical skills in engineering substantiated with financial know-how is a niche asset that I hope will propel me in my career. To be able to become someone influential in the corporate scene someday would be great and I aspire to find out what my passion is along the way.”

Ups and downs of the job

NAME : Nur Atikah Paimin, 28 DESIGNATION : Senior Associate COMPANY : BDO

“The good part of this job is that the learning curve is very steep and you are able to explore the operation of a business on a holistic perspective. The drawbacks are the long hours and the need to juggle between study (completing the professional papers) and working at the same time.”

It’s hard work but it can be interesting

“One of the most interesting jobs I’ve been assigned to was to audit the hotel industry. The client was located at Taman Negara and I was able to understand how a resort is run and experienced the unique national heritage there.”

Having the right attitude to get ahead “I always try to understand the concept behind performing a particular task and relate it to the theory I’ve learned for the professional examinations. At the same time, I improved my interpersonal skills in dealing with audit clients, and use my knowledge and experiences from previous jobs to get things done.”

ACCOUNTING 2015

Key To Success

The Audit Director at KPMG shares what he believes is the key to a good auditor. Chai Teng Soon joined KPMG as an audit assistant in 2000 and was promoted to Audit Manager before a secondment to KPMG UK. Upon returning from his 18-month assignment, he was promoted to Senior Manager. He left the firm in 2009 to join a foreign bank and rejoined KPMG as Director after five years.

Audit is a big responsibility

“As an audit manager, you are expected to manage audit engagements for clients from various industries and ensure each job is completed within the given deadline. You have to ensure the highest standard of audit working paper is in compliance with both accounting and auditing standards. Moreover, you report directly to the engagement partner, serve as a key contact for clients, and provide support and guidance to your audit team members who will be carrying out the audit fieldwork. Besides statutory audit engagement, there may be involvement in special audits like IPO.”

It’s hard work but the job has its perks NAME : Chai Teng Soon, 39 DESIGNATION : Audit Director COMPANY : KPMG in Malaysia

“People think audit work involves long hours, and is boring and a routine. While there are tight deadlines during peak periods, proper planning does circumvent the long working hours. And it isn’t always a routine because different client requires different approaches or focuses to complete the audit assignment.

I actually find that audit offers interesting opportunities to learn from different people from various industries. My 18-month secondment to UK, for example, was a great exposure to working in a foreign country and dealing with people from different backgrounds and cultures. As a bonus, UK became my base for travelling to other countries within the EU.”

Secrets of success

“Auditing is one of the most challenging jobs around but as a reward, our people will learn the most and be very competitive if they decide to join the commercial job market in future. You need to always stay in front of the development in accounting/auditing standards and commercial world. You would also need to know the clients’ needs, and provide your best service and add value to their process. Finally, learn to build good rapport with the client and keep in touch with them before and after each audit engagement.”

ACCOUNTING 2015

TAX IS NOT BORING!

A Tax Manager at KPMG debunks the myths surrounding her job. A LLB (Honours) graduate, Kei Ooi joined KPMG as a Tax Consulting Assistant after considering various options, including consulting, upon graduation. As a Tax Manager, she provides clients with corporate tax compliance services and tax advisory services in connection with mergers and acquisitions, inbound and outbound investments, cross border structures, tax due diligence, as well as advising on tax efficient investment structures.

Tax is not boring!

“One of the common misconceptions about the field is that tax is boring! Tax is actually a very dynamic field and as a consultant, you need to be able to analyse and consider various interpretations of the law.”

Making an impact

NAME : Kei Ooi, 30 DESIGNATION : Tax Manager, Specialist Issues Group COMPANY : KPMG Tax Services Sdn Bhd

“There are many highlights in my career with KPMG but one that stood out would be when we assisted a multinational conglomerate with a bid for the development, construction and operation of a power plant. Our assistance included the analysis of potential tax implications and the review of financial projections from a Malaysian tax perspective. The project provided me the opportunities to work closely with financial as well as legal advisers, engineers and other operational specialists. In addition, I’ve also written Malaysian case laws summary analysis for the CPA Tax and Investment Review that is published annually, and involved in providing internal and external trainings, including a bi-annual lecture on tax topics to students at a private university.”

How to get ahead

“One should have the thirst for continuous learning, the willingness to work hard, and a can-do attitude. First impressions are important and you always want to make sure to act professional at all times. You must also be proactive and take on new challenges at work. For fresh graduates, get educated. Tax policies are always evolving to reflect the current times and you must always keep yourself up-to-date.”

ACCOUNTING 2015

Tax Gurus

Tax advisors need to keep abreast of changes and updates to tax law. Depending on the assistance required by the taxpayer, there may also be the need to be updated on global tax trends and law. An affiliate of the Association of Chartered Certified Accountants (ACCA), UK, Levinash Ravindran is a Goods and Services Tax (GST) consultant with the tax team at PwC. One of the primary features of his job is to assist some of the largest multinationals with their GST implementation ahead of the D-day in April 2015.

What makes this job exciting?

“The work that I do is thought provoking as everything we do is a constant change. I currently work on 12 major GST projects. GST being new in Malaysia makes it more challenging, which keeps me motivated knowing that we need to raise our game and adapt to change.”

Tell us about the good and bad

NAME : Levinash Ravindran, 23 DESIGNATION : Consultant, Tax COMPANY : PwC

“GST is still very fresh in Malaysia and I love the feeling of being a selected few to have the understanding of how it applies across a myriad of sectors. Although the Malaysian GST framework mirrors that of Singapore’s, it is still being refined and altered as I write. Staying updated with the latest developments is what keeps me ticking. Obviously the long hours and relentlessness is the hardest part of my job. I wouldn’t say there is a worst bit because it all comes down to how you look at the half full glass. To succeed there will always be hard work but I’ve learnt that you’ve got to deal with it and get on.”

What’s next?

“Hopefully in the next couple of years once GST has been introduced and has stabilised, I can move on to focus on business advisory work dealing with corporate restructuring and performance improvement.”

ACCOUNTING 2015

So You Want To Be A Management Consultant? Find out what this job entails to see if you have what it takes.

A graduate of Master of Philosophy in Social and Developmental Psychology from University of Cambridge and a Bachelor of Arts in Psychology from UCSI University, Lydia Kwan is part of the Strategy division within Management Consulting at PwC. As an Associate she is primarily responsible for research and analysis.

What makes this job exciting?

“One of the reasons this job keeps me going is the people. We work in teams and we are all close-knit, which makes it easier to work towards our objectives. Another reason why consulting is exciting is because the work is highly stimulating. It’s a lot about opinions and not just crunching numbers. It also helps that the people in consulting come from diverse backgrounds, which makes for different opinions, so when we work together, it helps to cover a lot more aspects of the work that we do.”

Tell us about the good and bad NAME : Lydia Kwan Li-Ya, 26 DESIGNATION : Associate, Consulting COMPANY : PwC

“The most enjoyable aspect of my job is its dynamism. There is no stock and standard day in the life of a consultant and I love the fact that I get to learn something new with each project. On the flip side, it is sometimes difficult to achieve a good work-life balance. Depending on workload and deadlines, there may be periods where we have to work long hours and over weekends.”

Share a career highlight

“My most memorable project and work achievement thus far are inextricably linked. The project was regarding a national agenda to increase the number of women on corporate boards. From the get-go, our project director empowered us to take ownership of certain deliverables and I volunteered myself for the global comparative analysis. Although the process was quite intense as it involved extensive research and framing, this analysis set the scene for a major portion of our deliverable, namely, our recommendations moving forward.”

ACCOUNTING 2015

Management consultants help organisations solve issues, create value, maximise growth and improve business performance by providing advice and expertise. They will assess an organisation’s strategy, its structure and operations, and from there identify possible solutions as well as proposing recommendations for change. To be considered for a consultant’s role, a candidate should have a degree from any discipline but degrees from top universities or one which is numerical or analytical in nature can be an added advantage. A strong academic track record and confidence with numbers is generally more important than the discipline pursued. In some firms, an MBA may be valued but is generally not essential as experience and skills count as much as qualifications. Fresh graduates are advised to gain relevant work experience, which could include parttime or voluntary work and participation in club activities that involve teamwork and acquiring business, finance or organisational knowledge. Typically, consultants enter the profession with some commercial experience and where relevant, industry-specific professional qualifications. Bigger firms offer graduate programmes at entry level but places are limited and competition is intense. Progression is generally rapid depending on individual ability, drive and ability to develop new business opportunities. Entry-level graduates generally start out as an associate, undertaking research, data collection and analysis before moving on to a more experienced consultant role where you will perform advanced analysis, develop business cases and recommendations, reporting, presentation and moderation skills. At the manager level, you will be accountable for project deliverables, manage smaller client relationships and assignments staffed by

associates and Assistant Managers, acquire specific industry or subject knowledge, and have limited “profit and loss” responsibility. From the Associate Director level onwards, you could work your way to partnership or directorship managing larger client relationships, multiple assignments and teams, have a more significant “profit and loss” responsibility, have expert knowledge in a subject or industry, and are expected to develop or sell into an existing client base. At this level, some consultants choose to freelance or set up their own consultancy firms while others may opt to join a corporate or public sector organisations as an internal consultant.

Other skills needed • Intellectual curiosity and high- learning agility • Good analytical and problem-solving skills • Ability to influence • Strong communication and presentation skills • Good level of business acumen and understanding of how businesses work

Characteristics required • Highly adaptable individuals • Initiative

ACCOUNTING 2015

A Stimulating Career

A Manager at Deloitte Corporate Advisory Services tells us why his role in mergers and acquisitions comes with great learning opportunities. Muhammad Akmal Che Mokhtar is a manager in the Mergers & Acquisitions (M&A) Transaction and Valuation Services at Deloitte Corporate Advisory Services. His role is divided into two main sections – due diligence and business valuation.

Inside look

“We coordinate and work with experts from other fields i.e. technical, legal and tax, to ensure a client’s diligence requirements are fulfilled. We provide clients with commercially focused support from deal screenings and origination to comprehensive due diligence.

NAME : Muhammad Akmal Che Mokhtar DESIGNATION : Mergers & Acquisitions (M&A) Transaction and Valuation Services COMPANY: Deloitte Corporate Advisory Services

In business valuation, we collaborate with clients on some of their most complex business and transaction issues, providing valuable insight that help them make decisions. Clients turn to us for valuing sophisticated assets such as business entities, intellectual properties, intangible assets, as well as our understanding of how to quantify and present valuation analysis and conclusions, in concert with prevailing accounting, tax and regulatory codes in South East Asia.”

Always dynamic

“This job is exciting because of its stimulating nature where no single project is the same. I work with a team that consists of young and dynamic individuals with passion for life and their work. Furthermore, I continually experience different industries coupled with different management styles within South East Asia alone.”

Career highlight

“I was extremely excited when my team and I were appointed to review businesses held by a state investment arm that generated RM100 billion in revenue annually. Its wide range of business areas and industries included oil and gas, plantations, water, timber, construction and property companies. This gave us a chance to flex our financial mettle and work with a myriad of industry experts.”

Getting in

“Having a strong academic qualification, along with international and relevant work experiences, will get you through the proverbial door. However, arming yourself with in-depth knowledge in finance, business and industry will help whether you are speaking to potential employers or having to do fieldwork.”

ACCOUNTING 2015

CAREER OPPORTUNITIES

BANKING

The World of Banking and Finance

Banking: Career Features

BANKING 2015

The World of

Banking and Finance

An exciting career awaits in the banking and finance sector... but make sure you know your stuff well! Get to know it with these fast facts.

Who are the

players? 27 commercial banks 16 Islamic banks 4 international Islamic

banks

13 investment banks (Source: Bank Negara Malaysia)

11%

Contribution to the countryâ&#x20AC;&#x2122;s Gross Domestic Product (GDP) from the banking and finance sectors

By Emily Loh

300,000+ The number of people employed in the industry

BANKING 2015

Girl power! Women are paid better in finance. The average salary for a female finance manager is RM14,500

versus RM12,250 for a man in the same job. (Source: Salary Explorer)

RM2,300 to RM4,500 The average monthly starting

pay of fresh

graduates. Managers with more than five

years of experience

can make upwards of RM12,000 per month.

10-25%

increase in salaries over the last 12 months. (Source: Kelly Services Malaysia Salary Guide 2014/2015)

Fast money Banking and finance is one of the top paying industries in the country. Opportunities, opportunities, opportunities

The number of hot jobs

in banking and finance. These include

syariah head for Islamic finance, risk management manager, head credit risk, business intelligence manager and management trainee. (Source: Kelly Services Malaysia Salary Guide 2014/2015)

What it is: Providing banking services to companies. Types of roles: Credit analyst, relationship managers, business development managers.

Retail banking

Corporate banking

Career paths in banking What it is: Providing banking services to consumers. Types of roles: Wealth planner/personal financial consultant, mortgage/ credit card sales, branch banking, loans officer, credit officer.

BANKING 2015

Operations

What it is: Roles and functions to support the operations of the bank. Types of roles: Treasury, securities, trade, loans, credit cards, payment, information & technology, marketing, finance, investment, call centre, customer service, procurement, support services.

GOING PLACES IN FINANCE Finance isn’t actually an industry. It is so encompassing that there are career options for finance professionals in just about every company! Here are some common choices:

• • • •

Financial Analysis Financial Management Financial Consulting Banking

• Financial Planning and Wealth Management • Corporate Finance

Wealth management

What it is: Managing the financial portfolios of high net-worth individuals. Types of roles: Relationship managers, wealth planners, investment and product development.

Taking the lead in Islamic Banking Malaysia is the world’s biggest sukuk market and one of the key players in the global Islamic finance sector. Prospects have never been better for Islamic banking professionals.

RM580.8 billion

Total Islamic banking

“When employers recruit they prefer candidates who can have a positive impact on the commercial objectives of their business. In particular demand are financial planning and analysis candidates as employers add commercial skills to their business, proving that commercial finance is a key element of increasing profits.” (2014 Hays Salary Guide – Asia)

assets in Malaysia as at July 2014

The Economist has named Malaysia the “world’s most important Islamic-finance centre”.

RM62 billion

Sales of Islamic bonds in Malaysia in 2014 Did you know the salary of the head of a Syariah unit with five to 10 years of experience can reach as high as RM21,000 per month?

We understand the value of global connections. Do you? At HSBC, we’re inspired by the global flow of ideas, skills and resources. It’s the connections we make with diverse people around the world that powers our success, opening up new and exciting opportunities for our customers and colleagues alike. Right now, we’re looking to connect with the best and the brightest people from across the globe to help shape the future of our bank.

Management Development Programme Our 24-month Management Development Programme will uncover your potential and propel you to greater heights. You will develop in-depth management and banking skills, whilst being provided with platforms and countless opportunities to expand your personal and geographical boundaries. You will join one of four career streams: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and HSBC Amanah. The programme is designed to provide you with international exposure, world class training, access to global networks and best-in-class expertise. We are seeking young talent with the courage to succeed, ability to navigate complexity and the focus to drive sustainable results.

Connect the world at HSBC. www.hsbc.com/careers

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website. Issued by HSBC Bank Malaysia Berhad (Company No : 127776-V).

Current role/job…

Name

: Hana Syaswani

Programme : CIMB Fusion PwC Programme

(September 2013 - Dec 2017)

Pursuing : ICAEW - ACA Professional accounting qualification

efore I pursued my degree, I sought advice from many successful chartered accountants and bankers, which led me graduate with a Bachelor of Arts in Accounting and Finance (Hons) from Nottingham Trent University in the UK. Being the only girl and eldest in a family of 5 siblings and as a prefect in my primary and secondary school years, I acquired essential leadership skills that I treasure and believe would help me in the field that I am venturing into now. I started attending interviews during my final year. I was attracted most to the CIMB Fusion PwC programme as it offers me an opportunity to gain experiences in both accounting and finance. I started with PwC in September 2013 and will be joining CIMB in July 2015.

I am currently an Associate in PwC, specialising in Middle Market Groups (MMG) under the Industry Xplorer program. I spend most of my time at the client’s offices and the offices may be located at different ends of the Klang Valley. The job is technical but it provides me with a good opportunity to learn the International Financial Reporting Standards (IFRS). Managing clients’ expectations is part of my job. Good communication skills are essential. These skills are not taught at school/university but acquired through work experience. Of course, sometimes it can be challenging and test my patience, but I consider that as part of my journey in building my career.

What keeps you motivated to go to work each day? The thought of learning something new every day! Every business is different depending on the industry requirements. Also, good interaction with my colleagues helps to make a difference too. Also with the CIMB Fusion programme, I hope to complete my professional qualification as well as to discover my passion, whether in accounting or finance. Once I find a fit in a role, I want to use my knowledge and skills to enhance the performance of that company to the maximum. On a lighter note, I look forward to dressing myself up every morning – matching and

accessorizing my outfit with the right colours, shoes, bags etc.

The best thing about this CIMB Fusion programmeâ&#x20AC;Ś As the CIMB Fusion programme rotates people, I am exposed to multiple businesses and get to see and experience first-hand how they are run. Apart from that, I also get to travel to different locations based on my job assignments. In my first year, I have been to more than ten different office locations. Along the way, I also made many new acquaintances from different background and levels.

Reflect back from Day 1 to now. How have you evolved in your current job? How have you maybe evolved as a person?

develop my soft skills. These have helped me to interact better with people especially at work, in communicating with my colleagues and clients. I must also thank my mum who played an important role in my life for moulding me to what I am today. My mum taught me selfconfidence by allowing me to make my own decisions at a young age.

Life outside of work... Apart from working, I am also a part time student pursuing my ICAEW qualification. Therefore, free time is very precious. Usually, I would take time-out and spending it with my good friends for a makan session or catch the latest box office movie. We also do fun outdoor stuff like the 2014 CIMB Colour Run and hiking at FRIM.

I have become a more confident person and have improved greatly in my networking skills, which led me to meet with many new acquaintances from different levels and backgrounds. I am also more prudent with my expenditure. Apart from that, the on-jobtraining has also taught me to be more careful in everything that I do.

In the past, I went for ballet classes, was a school cheerleader and played the piano. Now, I go to the gym for a dance class to stay fit. Iâ&#x20AC;&#x2122;m also trying something new and have taken up golfing. Tiger Woods makes it looks so easy; in reality golfing is a game that teaches me to strategise my moves and be calm and focused.

What advice would you give to someone who is seeking the same line of work?

Last but not least, I always make time to do some retail therapy. I know online shopping is popular nowadays, but I like to go to a mall and walk around to shop for clothes, shoes and my latest obsession, make up accessories.

Start thinking of what you aspire to be, work towards it and along the way seek advice from the right people. Our job requires us to communicate with the clients. Sometimes, it is getting the right thing, and getting it done right can be a struggle. As human beings, it is normal to face challenges and make mistakes but we must always try to find the best solutions.

How did your education or past experiences prepare you for this job? The things that were taught in University are actually applied to this job. Studying for exams in university are your input, the output will take place when you start working. As for my past working experience, I interned in Assurance and did some volunteer work to

A NEW FUTURE Islamic banking has grown steadily in Malaysia, creating new opportunities for bankers. It is no doubt then, why it is one of the most sought after sectors among fresh graduates. We find out what it entails and how you can be part of it with Bank Islam. By Chow Ee-Tan

he concept of Islamic banking was introduced in the 1960s but it was only towards the end of the last millennium that it grew significantly. By 2008, Islamic banking was growing at a rate of 10 to 15 per cent per year with signs of consistent future growth. Islamic banks have more than 300 institutions spread over 51 countries. Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. Collecting interest is not permitted under Islamic law. The basic principle of Islamic banking is based on risk-sharing, which is a component of trade rather than risk-transfer,

which is seen in conventional banking. Islamic banking introduces concepts such as profit sharing (Mudharabah), safekeeping (Wadiah), joint venture (Musharakah), cost plus (Murabahah) and leasing (Ijar). “In Malaysia, Islamic banking started as a matter of conviction to Islamic principles to serve the needs of the Muslim community,” says Mohd Nazri Chik, Chief Shariah Officer, Bank Islam who is fondly known as Ustaz Nazri. “But now Islamic banking is one of the agenda of the nation and a mainstream system with commercial banks also participating in this sector due to the opportunity and the value behind the Islamic banking system.”

BANKING 2015

“All good core values are shared between all the religions. To be a professional in Islamic banking, we try to live out the values of the Quran. The challenge of being in a corporate institution is how to inculcate the values into your organisation.” He says in Malaysia, Islamic banking can be found in four main modalities, namely fullfledged Islamic banks (there are five of them), subsidiaries from commercial banks, Islamic banking units of foreign banks; and Islamic window of SME Bank, EXIM Bank and the likes. Across the world, Islamic banking is moving to non-conventional markets and unchartered territories such as non-Muslim countries, says Nazri, who serves as deputy chairman in the Shariah council of the Islamic bank in Sri Lanka. “London, Hong Kong and Singapore are aiming to be Islamic financial hubs.” Unsurprisingly then, opportunities in Islamic banking are fast-growing. “As a developing nation, we will be moving towards alternative asset management rather than just conventional banking as income margin becomes thinner and people are more knowledgeable and financial savvy,” says Nazri. Bank Islam’s corporate objective and vision is to become a global leader in Islamic banking. “Our intention is not to become the biggest but we want to be the industry leader in terms of product development, in terms of giving back to the society,” he says, adding that the bank

continues to improve in its innovative product offerings and provide leadership to the industry and often engages with government agencies and associations. “We are here to share our professionalism with other institutions and work in synergy with them,” says Nazri.

LEADING THE WAY A retail bank with close to 4,300 employees in 140 branches across the country, Bank Islam is the first full-fledged Islamic bank in Malaysia. It was set up in 1983 primarily to assist the financial needs of the country’s Muslims. Since then, Bank Islam has paved the way for the continuous development of Islamic banking and finance beyond the Malaysian shores. Nazri says the bank has received invitations from overseas to help spearhead the development of Islamic banking. Its Shariah advisory business is helping banks, cooperatives, finance companies and companies convert their institutions from conventional to become Islamic institutions. According to Nazri (who is the recipient of the Asian Young Prominent Banker Award by Asian Banker Magazine), joining an Islamic bank will benefit young bankers as there are many learning opportunities for fresh graduates. “All good core values are shared between all the religions. To be a professional in Islamic banking, we try to live out the values of the Quran. The challenge of being in a corporate institution is how to inculcate the values into your organisation,” says Nazri. “At Bank Islam, we aspire to serve for the greater good, constantly seeking to fulfil the country’s national agenda and make for a better society and ummah overall. Working with us means not only will you contribute to the growth of Bank Islam but you will also grow as a person, able to operate at the highest capacity possible in a responsible manner and contribute to the positive development of the community. Within this industry, it is to our aspiration to see you reap the benefits of both worlds, capable of meeting the highest international banking standards with exacting adherence to Shariah ethical principles.”

BANKING 2015

Be Passionate!

When it comes to giving your all, Maybank’s Nic Wu Chun Chang believes in one thing – passion. As an account officer in Corporate Banking at Maybank, Nic Wu Chun Chang’s role revolves around analysing, evaluating and recommending loan applications for corporate clients. He is responsible for building and maintaining strong business relationships with clients to achieve business targets and ensure high customer satisfaction.

Attitude is everything

“I believe we are where we are by choice. It is up to us to make the work exciting and the organisation a happy place to work. I motivate myself to face the day and maintain a positive attitude throughout so that my day will be more pleasant and productive. Good relationships with your managers and co-workers are also crucial. Most importantly, I infuse passion in my work and am always passionate to deliver the best in every task assigned to me.”

The hours are long but the opportunities are great NAME : Nic Wu Chun Chang DESIGNATION : Account Officer in Corporate Banking COMPANY : Maybank

“I love the fact that my job offers me a steep learning curve. Learning is intense here and the knowledge I gather and build in corporate banking is valuable. The work is hard, with many working hours on my feet. It is not unusual to be expected to work through the night when deal flow is high. Working weekends is also common when deals are close to being struck.”

In the thick of action

“A major career highlight would definitely be the opportunity to be involved in several multibillion syndicated loans, which includes privatisation exercise and property development bridging loan among others.”

An in-demand career

“Corporate banking experience generally opens a lot of doors within the organisation or outside with other corporate companies. There are many business streams that require strong credit analysis credentials including investment banking and business banking. I believe the sky is the limit when it comes to credit roles in the banking industry.”

BANKING 2015

Expect the Unexpected

CIMB’s Azita Baizura shares her unconventional route to finance and what it takes to stand out. Marketer-turned-banker Azita Baizura Mohd Zain’s first interaction with CIMB was as an advertising executive at international advertising agency Saatchi & Saatchi. Years later, her former client called to offer her a job in the Business Communications Department at CIMBPrincipal Asset Management Berhad. From the Business communications Department, she went on to become a pioneering team member of the Corporate Cash Management Unit and was a front-liner to pitch unit trust money market funds to corporates. Azita is currently an Associate Director and the Head of Corporate Sales & Marketing Department of CIMBPrincipal, covering all products and capabilities such as corporate unit trust, discretionary mandates & Private Retirement Scheme (PRS).

Customers first

NAME : Azita Baizura Mohd Zain DESIGNATION : Associate Director & Head of Corporate Sales & Marketing COMPANY : CIMB-Principal Asset Management Berhad

“We are in a service industry where excellent customer experience is the edge we have over competitors. In my line of corporate sales and marketing, this is even more crucial as front-liners are usually the first touch point, hence, I focus on relationship building and ensuring that my clients have a positive end-to-end customer experience.”

Banking is for all

“Having a finance-related qualification is an advantage but those from other disciplines can still consider starting their career in this industry even without specific finance/ banking qualifications. I graduated from the faculty of Human Sciences, majoring in English Language & Literature, yet I am building my career as a corporate front-liner with CIMB Group. I completed all the required examinations and obtained the Capital Market Representative Licence from the Securities Commission Malaysia, the Unit Trust & PRS Marketing & Distribution Licence from the Federation of Investment Managers Malaysia and additionally, hope to obtain the Islamic Financial Planner certification in May 2015.”

Listen up FRESH GRADUATES!

“There is no such thing as a perfect company or a perfect colleague but look for the best you can, weigh the pros and cons, and you may strike gold by finding the right company and right team. There are more satisfying rewards than just monetary ones, so don’t be tempted to jump ship, especially when you are just building your career.”

BANKING 2015

Market savvy

To stand out among your peers in the challenging environment of the equities market, you need to be on top of things. Here’s what Marvin Khor, an analyst at AllianceDBS Research, has to say.

As an analyst in equity research at AllianceDBS Research Sdn Bhd (a subsidiary of Alliance Investment Bank Bhd), Marvin Khor is responsible for providing fundamental research on Malaysian equities, specifically the REIT and plantation sectors.

You’re hired!

“A big part of getting into this position was being part of Alliance Bank’s Management Trainee Programme. The 12-month exposure programme involved rotations to various departments, followed by a placement in a department that best fit both parties.

NAME : Marvin Khor DESIGNATION : Analyst in Equity Research COMPANY : AllianceDBS Research Sdn Bhd

I think participating whole-heartedly in the programme – and taking advantage of things like the soft-skills and leadership training, our assigned mentors and the groupbased projects – are immensely helpful on a personaldevelopment basis. Getting a bird’s-eye view of the bank’s operations was also a very valuable opportunity. Of course, I consider myself fortunate to be placed in a fulfilling role.”

Making the right call

“I find my job particularly engaging because the equities market is a subject of great personal interest. Getting the chance to understand companies better and then translating that into accurate performance projections is always an exciting prospect. Making accurate and timely stock calls would definitely be the highlight of the day for an analyst. So conversely getting a call wrong could be quite disappointing. I’ve come to see that being able to fully justify your view, both to yourself and to others, is key to both effectiveness and job satisfaction. Also, in the spirit of full disclosure, the time commitment required is significant – I’d say close to round-the-clock attention is encouraged. This probably falls into both ‘good’ and ‘bad’ columns for even the most passionate of us.”

BANKING 2015

Trained for Success

Mohammad Raffie, Relationship Manager at Affin Bank, says there is satisfaction in helping customers grow their business. As a Relationship Manager, Corporate & Commercial Business at Affin Bank Berhad, Mohammad Raffie Sulaiman Raj is responsible for maintaining and growing the loan portfolio, marketing new business loans, structuring, negotiating and obtaining credit approval for new/enhanced facilities, planning and developing strategies to increase utilisation, fee and interest income, cross-selling the bank’s products and services and monitoring overdue accounts, among others.

It is a role that requires financial and mathematical strengths, hence, suited mainly for graduates with degree in finance, business, economics, accountancy, mathematics and statistics or professional qualification such as ACCA or CIMA. IT savviness, good communication and negotiation skills are pre-requisite to become a Relationship Manager.

High-profile exposure

“I get to meet different clients who are mostly from senior management roles and learn from them. It is also a privilege to be able to see my customers progress – from a SME to a listed company – and to know that I have been a partner to their business success. NAME : Mohammad Raffie Sulaiman Raj DESIGNATION : Relationship Manager, Corporate & Commercial Business COMPANY : Affin Bank Berhad

It is gratifying to build rapport and close deals but the job can be challenging given the tight deadlines and having to manage customer demands and expectations.”

Clear career progression

“I joined the bank as a Management Trainee and have been systematically groomed and trained for success. I started in the Business Banking division as an Assistant Relationship Manager in 2010 and was promoted to Assistant Vice President two years later.”

Opportunities abound

“As a management trainee, I was exposed to key departments. I had the chance to experience branch operations, loan administration, finance, treasury and business banking. In 2012, I was given the opportunity to participate in the implementation of the corporate Internet banking system for the bank and conduct introductory training for stakeholders and end users. These are things that make the job interesting. After obtaining my professional qualification, my opportunities to move up the corporate ladder will be wider and brighter.”

CAREER OPPORTUNITIES

CAPITAL MARKET

The Malaysian Capital Market Regulator

Capital Market: Career Features

CAPITAL MARKET 2015

Embark on a career with the Securities Commission MALAYSIA, The Malaysian Capital Market Regulator

Securities Commission Malaysia’s (SC) mission is to promote and maintain fair, efficient, secure and transparent securities and derivatives markets, and to facilitate the orderly development of an innovative and competitive capital market in Malaysia. In line with this, we advise the Minister of Finance on all matters relating to the Malaysian capital market. The SC also continuously reviews and augments the regulatory framework to meet the financing and investment needs of market participants and ensure that the Malaysian capital market remains competitive. We promote market liquidity through growth with governance, encourage market and product innovation and efficiency as well as facilitate more informed investment decisions.

The SC has the mandate to: • Ensure investor protection • Ensure fair, efficient, orderly and transparent markets • Reduce systemic risk

What the SC does • Regulating all matters relating to securities and derivatives contracts • Registering prospectuses of corporations other than unlisted recreational clubs • Regulating the issuance of corporate bonds • Regulating the takeovers and mergers of companies • Regulating all matters relating to fund management, including unit trust schemes • Licensing and supervising all persons and

CAPITAL MARKET 2015

• • • •

companies engaging in regulated activities or providing capital market services Supervising exchanges, clearing houses and central depositories Promoting self-regulation Ensuring the proper conduct of market institutions and licenses persons Developing an effective audit oversight over auditors of public-interest entities

So, why build your career at the SC • You will be able to contribute towards building an internationally competitive

market that will transform the financial industry. • We take great pride in developing, nurturing and equipping our people through programmes like the Graduate Management Executive Programme (GMEP). • Our people are given ample 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 playing field for all investors.

For more information on careers at SC, please visit www.sc.com.my/careers/

CAPITAL MARKET 2015

Never a dull day

Find out how a position in Global Markets will challenge you always. As the Vice President of Global Markets at BNP Paribas, Yong Chen Hao works side by side with the Trading and Research division to provide pricing, liquidity and trade ideas to meet his clients’ investment and hedging needs. This spans across various product areas such as Foreign Exchange, Interest Rates and Credit.

The role

“The Global Markets sales person works closely within the Global Markets sales team and the Bank’s Relationship Managers to build the business franchise. He is also responsible for carrying out clients’ instructions to execute transactions according to the bank’s needs. KPIs would include meeting sales targets, building and deepening client coverage, promoting cross-selling, developing robust marketing strategies while paying close attention to compliance and risks.”

An exciting line NAME : Yong Chen Hao DESIGNATION : Vice President, Global Markets COMPANY : BNP Paribas

“Not a single day is the same in the dealing room. You get to see first-hand how our financial markets respond to global political, economic and market events. I really enjoy the fast pace in this working environment complete with its steep and challenging learning curves that involve both quantitative and qualitative skills, as well as the ability to think on your feet.”

Job satisfaction

“The best part of the job is the decision-making responsibility and the sense of fulfilment when you see the end result of your work. Another plus point is that being in the dealing room, my day tracks closely to that of the market. But given the limited market hours, we pack more work into an abbreviated day and that can be very stressful at times.”

Career highlight

“The highlight of my career is when I successfully guided and assisted one of my clients to optimise their return on assets using derivatives, which was the first for our Malaysian set-up. Being directly involved in the whole process of originating to executing a transaction is what makes this career fulfilling.”

CAPITAL MARKET 2015

A Learning Process

A career in the finance and banking industry is all about new ideas, gaining knowledge and seeking new opportunities. As the Head of Investment Banking Asia (IBA) Coverage, Anthony Lo manages large local accounts in the IBA Coverage department for BNP Paribas in Malaysia. These are the top Malaysian players who are leaders in their respective fields. Through close working relationships with the clients, his department anticipates and provides tailor-made banking solutions.

Climbing the ladder

“I have always worked in the finance and banking industry, graduating from the basic understanding of fundamental financial principals and building on my technical skills set to managing large client accounts and relationships.”

A job well done

“Each and every deal completed for a client is in itself a career highlight. I take great pride and satisfaction when a client credits us for the right advice and solutions rendered.” NAME : Anthony Lo DESIGNATION : Head, Investment Banking Asia (IBA) Coverage COMPANY : BNP Paribas

A fighting spirit

“Passion, passion, passion! You need to fall and stand up – multiple times – and learn from your mistakes to improve. And never say die. Persevere!”

Get first-hand knowledge

“Speak to friends who are working in the industry to get a better understanding before embarking on a career in finance and banking. This isn’t an easy path to make a quick buck!”

CAPITAL MARKET 2015

All Rounded

Through structured training and job exposure under the Affin Management Programme, Shahira Sharkar is able to build her confidence and skills.

Shahira Sharkar joined the Affin Management Programme after graduation and under the one-year structured programme, she was given a strong foundation and broad exposure in the banking industry. The programme helped her identify her strengths as a speaker and presenter, and complemented her mathematical background.

Inside look into Islamic FX

“I manage the daily liquidity positions for Islamic FX (foreign exchange) transactions, ensuring adequate liquidity is provided at all times to meet the needs of business and customers, and that our transactions are in accordance to Shariah guidelines. I also formulate funding and gapping strategies to maximise profitability while ensuring effective management of FX exposure. Finally I have to support treasury sales activities by providing competitive swap prices.”

Spotting trends and beating the market NAME : Shahira Sharkar DESIGNATION : Dealer, Derivatives & Swap COMPANY : Affin Bank Berhad

“Swap prices are influenced by a number of different factors (i.e. interest rates, demand and supply). What makes it interesting and exciting is when you are able to identify price trends and predict the movements in market activity, creating multiple opportunities to magnify profits.”

The journey so far

“A career highlight for me would be when I initiated the first Islamic FX Swap (Wa’ad Mulzim) transaction after the product was launched. I am currently doing it on a daily/weekly basis. Another memorable experience was when I had the opportunity to teach a module to those who were going to sit for their PKMC (Pasaran Kewangan Malaysia Certificate) exam.”

CAPITAL MARKET 2015

Accelerating To The Top

Find out what being a manager in the strategy & business planning unit in a top insurance company entails. Mahidon Promwichit is a Manager of Strategy & Business Planning at AIA Bhd. He has been with AIA for three years and works extensively with various departments in the organisation. He has a front-row seat to leadership in action as he works closely with the Senior Management Team that makes strategic decisions to drive the organisation forward.

The job is always exciting

“My department is the nerve centre of our organisation. We make sense of all the performance data that comes from the various functions, and we consolidate this data to make strategic management decisions to grow the company. My role involves monitoring the company’s performance, reviewing strategic initiatives and preparing key business presentations. It is dynamic and fast-paced, which suits me well. I go home at the end of the day with a sense of achievement, and I am always looking forward to facing new challenges.”

Getting a broad view of the industry NAME : Mahidon Promwichit DESIGNATION : Manager, Strategy & Business Planning COMPANY : AIA Bhd.

“This job has enabled me to have a holistic view of the mechanics of our business and industry as a whole. I am also well-positioned to work closely with the senior management team, and I have first-hand insights into their management in action. While expectations are high and we work on tight deadlines, it is an environment that I thrive in.”

Career path with bright prospects

“With 17 markets in Asia Pacific, my prospects in AIA are wide open and the opportunities available depend on where my strengths and interests lie. There are various regional opportunities to be explored as the company moves towards its goal of being the pre-eminent life insurer in Asia Pacific.”

Career highlight

“The highlight of my career will always be the integration of the Takaful businesses during the merger exercise following AIA’s acquisition of ING’s businesses in Malaysia. We integrated many complex processes, systems and people within just six months, while continuously growing the business.”

CAREER OPPORTUNITIES

RISK MANAGEMENT Protection that Counts

Risk Management: Career Features

RISK MANAGEMENT 2015

Protection That Counts RM2,000 to RM2,500

Average basic starting pay of fresh graduates (Source: Perbadanan Insurans Am Malaysia (PIAM))

RM723,000 per family

The protection gap in Malaysia, which is the estimated sum needed for the family of the wage earner to sustain their current lifestyle for at least five years on the demise of the wage earner. (Source: “Protection gap or Underinsurance gap in Malaysia” a study commissioned by Life Insurance Association of Malaysia (LIAM))

6 in 10

Malaysians are insured, a rather low rate. In comparison, 80 per cent of the population in Singapore has insurance.

40%

Of Malaysian insurance agents are full-timers versus 90 per cent in countries like Hong Kong, Singapore and South Korea.

Career path Can you sell? If selling is your passion and you want to be your own boss… Agent/Advisor Sales Manager (Depending on the insurance company, there could be three to four levels culminating in a senior manager position) Agency Leader Five years – from agent to agency leader

RISK MANAGEMENT 2015

Are you a corporate player?

There are various positions in departments of insurance companies that have nothing to do with selling insurance premiums! • Investment • IT • Corporate Communications • Business Development/Sales • Actuarial • Claims

• • • • •

Accounting/Finance Human Resources Risk Management Legal/Compliance Underwriting

The players 18 General insurers

5 General and Life Insurers

6 Reinsurers (Source: PIAM)

Big names in the industry • • • • • • • • • • • • • •

Allianz Life Insurance Malaysia Berhad & Allianz General Insurance Company (Malaysia) Berhad American International Assurance (AIA) Berhad AmG Insurance Berhad AXA Affin General Insurance Berhad Chartis Malaysia Insurance Berhad Etiqa Insurance Berhad Great Eastern Life Assurance (Malaysia) Berhad Manulife Malaysia MCIS Zurich Insurance Berhad MSIG Insurance (Malaysia) Berhad Prudential Assurance Malaysia Berhad Zurich Insurance Malaysia Berhad Kurnia Insurans (Malaysia) Berhad Uni.Asia General Insurance Berhad

The number of major examinations for the local industry. In general, insurance companies will pay for the fees of mandatory professional development examinations. (Source: The Malaysian Insurance Institute)

RISK MANAGEMENT 2015

Takaful

Islamic-compliant insurance, translated as ‘shared responsibility’ and refers to the co-operative risksharing beginnings of takaful.

1400 years

The origins of the world’s youngest and most dynamic insurance market.

Growth forecast of takaful contributions over the next decade. (Source: ‘Takaful: Growth opportunities in a dynamic market’ by PwC)

RISK MANAGEMENT 2015

A Rewarding Career

An 18-year veteran of the banking industry, Nandha Kumar Subramaniam tells us what one can expect in risk management. Nandha Kumar Subramaniam began his career as a credit analyst in Pacific Bank Berhad, which was later acquired by Maybank. He rose through the ranks of Maybank from credit policy officer to various risk roles including policy development and risk analytics. For a brief period of time, he left to pursue other opportunities with stints in Maxis Communications Bhd, Alliance Bank (M) Bhd and OCBC Bank (M) Bhd before returning to Maybank in 2009. He now serves the bank under its Group Risk mainly in Risk Modelling function.”

Career highlights

“There have been many high points in my 18-year career but some of the key moments are:

NAME : Nandha Kumar Subramaniam DESIGNATION : Executive Vice President, International Risk, Group Risk COMPANY : Maybank

• Establishing the Model Validation unit for Maybank in 2009 from scratch. I built the team, emplaced operating procedures and standards which are now still being used and expanded to the rest of the Maybank Group covering Malaysia, Singapore and Indonesia operations. • Being appointed as the Head of Group Risk Modelling, I was tasked to set-up the Risk Modelling Centre of Excellence for Maybank Group with an expanded scope covering market risk modelling and operational risk modelling. • Being selected for the Top Leadership programme developed by the Bank to be among the potential high performing candidates to take up higher responsibilities in the Group. • Being selected to be the next Chief Risk Officer for Maybank Philippines Incorporated.”

Rethinking risk management

“Common misconceptions about risk management include it being technical, complex and a dry subject; that it is a compliance function; that there are many rules to adhere to, hence restraining business. Risk management should be seen as a business partner and business enabler. Rules and regulations are to protect the business and the bank’s interest.”

Advice to new graduates

“To find out what you are good at and where your passion is, it is important that you do active research, gain insight into various different roles in the industry, speak to experienced people and generally be active in your pursuit. I believe that once you identify what you want to do, the rest of your career path will be easy to determine.”

RISK MANAGEMENT 2015

LEARNING TO HANDLE CHALLENGES

Prudential Assurance’s executive, Chuah Tse Yuen, tells us why a career in financial risk management has so much to offer. Financial risk management involves providing the management team with risk knowledge and updates necessary for making better and well-informed decisions as well as assisting in ensuring good risk governance and compliance, implementation and coordination of Risk Management initiatives within the company. Executives can eventually rise to positions such as Financial Risk Specialist, Chief Risk Officer or Chief Financial Officer.

An overview

“Financial Risk Management essentially is the process of identifying and rectifying or accepting financial uncertainties. It’s a two-step process that involves identifying the uncertainties in an investment decision and managing the said risk in accordance with the company’s risk appetite.”

Developing strategies

NAME : Chuah Tse Yuen DESIGNATION : Executive, Financial Risk Management COMPANY : Prudential Assurance Malaysia Berhad

“My role provides the opportunity to experience and understand the synergy between business functions, to develop effective board governance structure and to implement a strong risk and compliance culture. One of the most exciting things is having the opportunity to be constantly working with top-tier management and observing their decision-making process.”

Pioneering work

“An independent financial risk management team is still relatively new in the market and there is a steep learning curve. It is exciting to be involved in a field that is rapidly growing across the region. I also get to be one of the few bricklayers in the development of a prudent risk management culture in the company and industry. In one project, our team conducted a risk assessment of the project and its environment. The assessment resulted in the risks outweighing the opportunities. Instead of writing off the project, the team leader asked how we could manage the risks and expand on the opportunities. That changed my perspective on handling challenges. The lesson learnt is that the pursuit of success boils down to improving your little strengths to outperform your many weaknesses.”

RISK MANAGEMENT 2015

Passion, the key to success

Loving what you do is the key to success, says AIA PUBLIC Takaful’s Appointed Actuary Ching Ing Chian. As the Appointed Actuary at AIA PUBLIC Takaful Bhd, Ching Ing Chian’s main responsibility is to ensure that the actuarial financial reporting function meets the stringent requirements of the regulator. He also reviews the adequacy of product pricing and advises senior management on the profitability, capital adequacy and the emerging risks of the company.

Career path

“Upon graduation, I worked overseas for five years before deciding to return to Malaysia. I have been in various job settings and have assumed different roles in consulting, reinsurance and conventional insurance. The highlight of my career was the first time I was given the mandate to head the actuarial department of AIA PUBLIC Takaful. It was challenging to meet the expectations of different stakeholders in a fast-paced company, but I was given support and confidence from my bosses.” NAME : Ching Ing Chian DESIGNATION : Appointed Actuary COMPANY : AIA PUBLIC Takaful Bhd

Getting ahead

“I believe that it is crucial to have passion to get ahead in this industry. Learning about the local industry and what’s happening abroad has helped me appreciate the opportunities and challenges in the local insurance industry. It is also very important to have good professional relationships with industry peers and business partners.”

Prospects are bright for actuaries

“In general, I feel that there are two misconceptions about the actuarial profession. First, people tend to associate the profession with professional exams. Whilst exams are important parts of your career, your actual work performance and soft skills are equally important. Second, people think actuaries are only suited to work in an actuarial department within insurance companies. In Malaysia, insurance companies remain the major employers of actuaries. However, there are many actuaries who have ventured into different roles within the organisation, notably in risks functions, business strategy and planning, and even as Chief Executive Officers.”

Advice for graduates

“It is a competitive but potentially rewarding industry. Be prepared to work hard to differentiate yourself from your peers and keep yourself updated on the developments in the local insurance and takaful markets.”

RISK MANAGEMENT 2015

CAREER OPPORTUNITIES

SHARED SERVICES The 4-11 on Shared Services

Shared Services: Career Features

SHARED SERVICES 2015

THE 4-11 ON SHARED SERVICES USD 127 billion

300

The size of the global sourcing market.

The number of foreign and multinational companies who have set up regional and global shared services and outsourcing centres in Malaysia.

(Source: The Everest Group)

Know your jargons The Shared Services and Outsourcing (SSO) industry is filled with acronyms! Here’s what they mean. 1. BPO Business Process Outsourcing refers to back-end business functions such as human resources or finance and accounting and front-office functions like marketing and contact center services. 2. ITO Information Technology Outsourcing work are transactional-type and IT-related functions. These include programming, technical support, desktop and server support, network and security systems. 3. KPO Knowledge Process Outsourcing is the valueadded processes that require specific and advanced knowledge in particular areas of specialisation.

More ACRONYMS to know • • • • •

BFSI – Banking, Financial Services & Insurance ICT – Information & Communication Technology P&H – Pharmaceutical & Health L&T – Logistics & Transportation ECR – Energy, Chemical & Resources (Source: MSC Malaysia)

SHARED SERVICES 2015

The big guns are here! SSO is a big business here. Take a look at some multinational companies that have set up GICs in Malaysia.

Did you know… Malaysia is consistently ranked the world’s third SSO destination, after China and India, by management consulting firm, AT Kearney.

RM10.4 billion Revenue contributed by the SSO cluster in 2012. Top industry revenue contributors : • ICT – RM3.66 billion • O&G – RM2.45 billion • BFSI – RM2.26 billion

70,000 Number of new jobs in SSO that will be available by 2020.

RM5,000 Monthly average salary of workers in the SSO industry. (Source: Multimedia Development Corporation)

6TH

“Most roles in SSO can be classified as “nondegree sensitive careers. So even if your prior work experiences are in another discipline, you still stand a good chance of building a career in this field.” – Ng Wan Peng, Chief Operating Officer at MDeC (Source: The Star)

6th Malaysia’s global ranking in terms of pay per productivity.

Interesting roles in SSO

SHARED SERVICES 2015

Finance & Accounting • • • •

Financial Statement Tax Preparation & Consulting Treasury & Risk Management Budgeting & Forecasting

Writing & Content Development • • • •

Legal Services

Investment Research & Analytics • Financial & Optimisation Model/ Analysis • Business Intelligence • Statistical & Econometric Modelling • SWOT Analysis

Software Research & Design • • • • •

Software R&D Software Product Development Software Solutions Security Design Data Warehouse Design

Content Planning & Proofing E-publishing Cross Media Composition Pre-press Work

• • • •

Legal Research Contract – Draft & Review Patent – Draft & Review Prosecuting Patent

Business & Market Research • Consumer Surveys • Data Analysis • Market & Database Research

(Source: MSC Malaysia)

“The important thing about outsourcing or global sourcing is that it becomes a very powerful tool to leverage talent, improve productivity and reduce work cycles.” Azim Premji, Indian business tycoon.

Spark transformations beyond your team. Averis Sdn Bhd is a young and vibrant company formed in July 2006 to provide services to the RGE Group of Companies. Visioned to provide high quality and scalable functional services to platform the Group’s growth agenda with managed risks, Averis offers back ofﬁce solutions ranging from Finance & Accounting, Human Resources, Information Technology, Project Services and Management Decision Support services. Customer centric, service oriented, accurate and reliable, Averis provides scalable, cost effective back ofﬁce solutions in real time. Having a well trained and dedicated team of business analysts and technical professionals, Averis is set to meet the demands of our customers to ensure the best-in-class services delivery and envisage to become the Centre of Excellence for the RGE Group of Companies through simplifying, standardizing and continuously improving processes, to deliver competitive and consistent services with a customer-oriented multi-talented team. If you share our passion for the unique challenges in delivering best-in-class services to meet the ever-growing demands of today’s global marketplace and are seeking professional and personal growth while forging enduring team spirit; come and make a difference far beyond the people you work with; touch even the lives of families and communities where we and our business group operate. SPARK TRANSFORMATIONS BEYOND YOUR TEAM AT AVERIS.

For more information, visit http://www.averis.biz

Interested individuals who are keen for a career in a vibrant shared services environment may send your resume to: Recruitment@averis.biz or Human Resource Department, Level 5, Wisma Averis, Tower 2, Avenue 5, Bangsar South City, No 8, Jalan Kerinchi, 59200 Kuala Lumpur.

What Will you you Will

DISCOVER? DISCOVER?

BP one ofof the world’s largest energy companies BP is is changing changingthe theway waythe theworld worldlives. lives.We’re We’re one the world’s largest energy companies with a business that spans exploration, production, refining, trading and distribution of energy. with a business that spans exploration, production, refining, trading and distribution of energy. Our Asia Business Service Centre (Asia BSC) in Kuala Lumpur is part of our integrated Our Asia Business Service Centre (Asia BSC) in Kuala Lumpur is part of our integrated global network of Service Centres supporting our regional and global businesses changing the way the world lives. one of the world’s largest energy companies with global network ofBusiness Business Service Centres supporting our regional and global businesses changing thefunctions way the world lives.We’re We’re one ofgoals the world’s largest companies with and operations. Its refining, main areand todistribution deliverenergy value-added services and process ness that spans exploration, production, trading of energy. and functions operations. Its refining, main goals areand todistribution deliver value-added services and process ness that spans exploration, production, trading of energy. transformation, as wellBSC) as optimise costs and standardise processes through global delivery sia Business Service Centreas(Asia in Kuala Lumpur partstandardise of our integrated global network transformation, well as optimise costsisand processes through global delivery sia Business Serviceand Centre (Asia BSC) in Kuala Lumpur is part of our integrated global network capabilities enabling technologies. iness Service Centresand supporting ourtechnologies. regional and global businesses and functions operations. capabilities enabling iness Service Centres supporting our regional and global businesses and functions operations. n goals At areBP to, deliver value-added services process as well as committed optimise we believe that people areand integral to transformation, our success and we’re to helping them in goals areBP to, deliver value-added services process as well as committed optimise At we believe that people areand integral to transformation, our success and we’re to helping them and standardise through global delivery capabilities technologies. achieveprocesses their unique potential. We value people and whoenabling are exceptionally passionate and driven and standardise through global delivery capabilities technologies.passionate and driven achieveprocesses their unique potential. We value people and whoenabling are exceptionally to succeed. we believe that people are integral to our success and we’re committed to helping them to succeed. believe that people are integral to our success and we’re committed helping them ewe their unique potential. We value people who exceptionally passionate andto driven to succeed. Power up your career with BP . are e their unique potential. We value people who are exceptionally passionate and driven to succeed. Power upwith yourBP, career with BPand . apply online, go to our website and search wer up your career find out more for all To find out more and to apply online, go to www.bp.com/careers/malaysia. wer up yourthe career BP, find outprovided. more and apply online, go to our website and search for all s, entering requisition numbers To find outwith more and to apply online, go to www.bp.com/careers/malaysia. s, entering the requisition numbers provided.

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FINANCE SERVICES FINANCE SERVICES The Finance Services provides a wide range of accounting and advisory services both regionally and The Finance Services provides Accounting a wide range and of accounting and Performance advisory services both regionally and globally. This includes Financial Reporting, Reporting (financial globally.cost/capital/cash This includes Financial Accounting and Reporting,and Performance analysis, forecasting and management), Credit andReporting Advisory(financial services analysis, cost/capital/cash forecasting management), Credit and Advisory services amongst others. The Finance Services also and provides a talent pooland to support Finance resourcing and amongst others. The Finance Services also provides a talent pool to support Finance resourcing related project activities in the region. We have developed a strong reputation and are recognisedand for relatedquality projectand activities in the region. Wetohave developed aand strong reputation and are recognised for providing cost efficient services the businesses functions. providing quality and cost efficient services to the businesses and functions.

INDIRECT PROCUREMENT (IP) INDIRECT PROCUREMENT (IP) BP’s Indirect Procurement organisation is accountable for the strategy and commitment to BP’s Indirect Procurement organisation is accountable for the strategy and commitment to marketplace for BP’s spend, global off shoring, and Six Sigma quality to deliver financial value to marketplace for BP’s spend, global off shoring, and Six Sigma quality to deliver financial value to company, satisfaction to customers and challenging opportunities for IP employees. company, satisfaction to customers and challenging opportunities for IP employees.

the the the the

TAX TAXCOMPLIANCE COMPLIANCECENTRE CENTRE TheThe Kuala Lumpur TaxTax Compliance Centre Kuala Lumpur Compliance Centre(KLTCC) (KLTCC)currently currentlysupports supportsthe the corporate corporate tax tax compliance compliance andand reporting of numerous countries including Australia, UK & & reporting of numerous countries including Australia,New NewZealand, Zealand,China, China,Singapore, Singapore, Malaysia, Malaysia, UK US US as well as Group Transfer Pricing and Indirect Tax. as well as Group Transfer Pricing and Indirect Tax.

ENTERPRISE ENTERPRISESYSTEMS SYSTEMS(ES) (ES) Enterprise Systems is responsible forfor supporting SAP Enterprise Systems is responsible supportingproject projectdelivery deliveryand andproduction production support support for SAP systems across all BP’s global business footprint. Within systems across all BP’s global business footprint. Withinthe theKuala KualaLumpur Lumpurcentre, centre,Enterprise Enterprise Systems Systems provide common services and key interfacestotointernal internalstakeholders stakeholdersand andexternal external suppliers suppliers globally globally willwill provide common services and key interfaces to deliver SAP designs functional specificationsensuring ensuringsolutions solutionsare arealigned aligned to to global global processes. processes. to deliver SAP designs andand functional specifications

GLOBAL OPERATIONSAND ANDINFRASTRUCTURE INFRASTRUCTURE (GOI) (GOI) GLOBAL OPERATIONS IT&S Global Operations and Infrastructure(GOI) (GOI)organisation organisation isis accountable accountable for for the the design, TheThe IT&S Global Operations and Infrastructure design, implementation operationof ofBP’s BP’score coreITITservices servicesand and infrastructure, infrastructure, including including data data centres, centres, implementation andand operation common desktop, many IT-for-IT tools and othercross-business cross-businessunit unitor orcentralised centralised IT IT responsibilities. responsibilities. common BP BP desktop, many IT-for-IT tools and other GOI routinely operates in close co-operation with business unit IT organisations, Indirect Procurement GOI routinely operates in close co-operation with business unit IT organisations, Indirect Procurement other entities. It also contracts with multiplemanaged managedservices servicesorganisations organisations to to deliver deliver parts parts of andand other BP BP entities. It also contracts with multiple of BP’s central day to day operational capability. BP’s central day to day operational capability.

ENABLING ENABLING BP’s Enabling team provides support to businesses and functions primarily in Commercial, Human BP’sResource, Enabling team provides support to businesses and functions primarily in Commercial, Human Business Optimisation and Account Management. Resource, Business Optimisation and Account Management.

beyond petroleum beyond petroleum

SHARED SERVICES 2015

THE HUMAN TOUCH Find out what a role in human resource services is all about.

As the HR Ops Lead in Averis Sdn Bhd, a shared services company, Teoh Chia Sien is responsible for the HR Services team. They provide human resources services to the RGE group of companies, headquartered in Singapore with a strong presence in Southeast Asia and China. “My team’s main task is to maintain and manage employee data such as new employees, monthly payroll for all employees and employee claims verifications utilising the SAP HR Software. We also handle employee queries related to any human resource matters. Over and above this, I am spearheading the Continuous Improvement initiatives for the HR Services team and I work closely with my team in encouraging them to focus on process and system improvements, which in return drive efficiency.”

Getting to the top

NAME : Teoh Chia Sien DESIGNATION : HR Ops Lead COMPANY : Averis Sdn Bhd

“Over the past 17 years, I was involved in various industries from manufacturing, BPO to shared services, but slowly moving up the hierarchy. The ability to stay calm and focused when faced with issues, the flexibility to take up new roles and challenges, the ‘just do it’ attitude and always looking at things on the positive side no matter how bad the situation is ‒ these have helped me throughout my career.”

Thriving in the industry

“In my opinion, to go more in-depth into the core businesses of our customers will result in my ability to be able to provide detailed analysis based on the HR data that we already have from the businesses. By doing so, the customer will be able to be more strategic in their planning and continue to drive cost efficiency. Customer engagement is highly critical and should be of high priority in order to continue and maintain positive relationships.”

Correcting misconceptions

“Many people say shared services have limited career opportunities due to the nature of work that is routine and mainly involving back end data processing. However, if you join the right company, the opportunities are beyond the boundaries of shared services.”

Advice for newbies

“Your attitude towards work is important. As a fresh graduate, you have limited exposure to the company processes and systems used. Hence, when learning the new task, you must keep an open mind, exercise high level of integrity and trustworthiness, be self-driven and possess team spirit.”

SHARED SERVICES 2015

The art of numbers Still think numbers are boring? Read this to find out otherwise.

Chiu Pek Nee, Account Receivable Function Lead at Averis Sdn Bhd, oversees and supervises the Account Receivable Function. She ensures her team provides high quality and accurate AR processing as well as meeting the stipulated Service Level Agreement (SLA). Her team also monitors the resource allocation and capabilities in order to service requests from different business segments from various countries. Pek Nee also leads and drives process improvement of AR in order to be more efficient and effective.

Numbers can be exciting

“People might think that Account Receivable tasks are highly routine. However, this is not the case in Averis. We work closely with the fast-growing and dynamic business units in various industries. My team is expected to provide high quality and value-added services. Ample challenges await us every day.”

Being part of a great team

NAME : Chiu Pek Nee DESIGNATION : Account Receivable Function Lead COMPANY : Averis Sdn Bhd

“The best part of this job is having a very supportive team. We regularly discuss and brainstorm on daily operation matters and support each other. Other than that, it is also important that you know you are being appreciated and valued for what you have contributed to the job by your superior.”

Steering your career in the right direction

“I started my career in Averis as a Team Lead, Reporting. I saw the changes and growth of Averis from its inception in 2006 to an organisation that focuses on organisational excellence, process excellence and operational excellence. With great opportunities given, I stepped forward to a higher level and got myself exposed to Cash Management. I am now leading the Account Receivable function. I foresee the next door of opportunity will be opening up for me soon.”

The future is bright

“As the shared-services industry is moving ahead in leaps and bounds in Malaysia, Averis believes in lifelong learning and continuous self-improvement. Averis is a shared service centre that provides services to the RGE Group of Companies. Because of this, we get a lot of exposure to various businesses in the RGE group and opportunities to be part of the business unit. I believe Averis can provide for a stable career growth with its vast opportunities.”

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