gradsingapore 'Finance' Career Guide 2021

Page 46

BANKING & INVESTMENT - Areas of Work

FINANCIAL MARKETS Develop and maintain relationships with clients in a fast-paced and exciting environment.

F

inancial markets are where financial assets and instruments – such as stocks, bonds, shares, equities, foreign exchange and commodities – are created, traded and distributed. As such, working there is mostly about finding solutions that generate revenue, and finance or hedge an array of clients, including corporations, financial institutions and even governments. Experts achieve this by offering analyses and fixes to financial problems, including resources for clients to trade various securities and assets for greater liquidity, much like instant cash. As businesses in markets primarily make money through trading margins and fees, as well as proprietary speculation, trading, sales and conducting thorough research are the three essential components in this field. Networking and relationship management are also especially important in this line of work, not just for picking up opportunities to obtain priceless information, but to gain insights on what clients are up to, a more accurate comprehension of the markets, and sometimes, even unreleased intelligence. These can lead to additional income or clue experts in on profitable transactions.

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General overview Traders start the day early – usually 7am – to keep up with the opening of the markets, and subsequently spend their time connecting with clients and other traders, exchanging information and making deals. They also spend a lot of time booking trades and advising salespeople and interested investors. Sales staff start the day slightly later, and focus on establishing and managing relationships between the firm and its investors, interacting mainly with external financiers. On top of suggesting and making financially profitable deals and persuading clients to invest, salespeople also liaise with traders on clients’ behalf to ensure that the agreed transactions are successfully carried out. Research staff, by contrast, react to what happens once traders start exchanging products – which means they begin working even later than members of the trading and sales teams. Researchers usually spend their days making observations and recommendations based on ongoing trends in the markets, and pass this data on to co-workers in trading and sales to help them make more informed decisions.

Required skills With the exception of positions that deal with complicated financial products and calculations, employers do not necessarily require finance or mathematical degrees for this line of work. Basic numeracy skills will usually suffice, though applicants must be incredibly accurate. Employers look out for talents with excellent communication skills who also have the ability to build strong relationships and connect easily with other people – most positions usually involve plenty of internal and external communication. Because competition can be very fierce, an internship offers a head start and industry insights that can allow hopefuls to hit the ground running in this intense role.

Pros and cons

This field is dynamic, exciting and comes with long hours. Moreover, it is undeniably stressful, with the constant risk of making a mistake which can incur high losses. But other than the heady excitement and energy on the trading floor, graduates are drawn to the opportunities to network widely and travel as seasoned professionals.


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Risk Assessment

2min
page 93

Tax

2min
pages 94-95

Management Accounting

2min
page 92

Internal Audit

2min
page 91

Forensic Accounting

2min
page 90

Financial Accounting

2min
page 89

Corporate Finance

2min
page 86

Corporate Treasury

2min
page 88

Commercial Finance

2min
page 85

Assurance

3min
page 84

Corporate Recovery

1min
page 87

A Graduate’s Guide to Accountancy Jargon

10min
pages 81-83

Professional Accountant

1min
page 80

Statistics

2min
page 72

Getting a Graduate Job in Accounting

2min
page 79

Financial Management

2min
pages 75-76

Retail Banking

2min
page 71

Wealth Management

2min
pages 73-74

Insurance Underwriting

1min
page 70

Insurance

4min
pages 68-69

Actuarial Science

3min
page 67

The Financial Services Alphabet

8min
pages 64-66

Finance Industry

5min
pages 62-63

Structured Finance

3min
pages 56-57

At a Glance: Financial Services

2min
pages 58-59

Stockbroking

1min
page 55

Choosing Your Role and Company in Financial Services Different Ways to Get into the

2min
pages 60-61

Specialist Markets

2min
page 54

Risk Management and Control

2min
page 53

Private Wealth Management

2min
page 52

Inter-Dealer Broking

2min
page 47

Investment Analyst

2min
page 48

Investment Banking

2min
page 49

Operations

1min
page 51

Financial Markets

2min
page 46

Investment Management

2min
page 50

Economist

2min
page 44

Finance IT

2min
page 45

Corporate Banking

2min
page 43

Banking and Investment Unique Skills The Banking and

2min
pages 36-37

Investment Industry Needs

7min
pages 38-39

At a Glance: Banking and Investment

2min
pages 34-35

A Graduate’s Guide to Banking and Investment Job-Speak

8min
pages 40-42

Tackling Assessment Centres

3min
pages 30-31

Acing Your Interview

4min
pages 28-29

Dealing with Live Video Interviews

5min
pages 26-27

Is a Career in Finance for Me?

2min
pages 12-13

Postgraduate Pathways in the Financial Sector

3min
pages 16-17

A Survival Guide to Applying for a Job in the Finance Sector

4min
pages 18-19

Preparing Your Cover Letter

3min
pages 24-25

Industries in the Finance Sector

2min
pages 10-11

Pros and Cons of Pursuing a Career in the Finance Industry

1min
pages 20-21

How to Pursue a Career in Finance Without a Finance Degree

3min
pages 14-15

Crafting Your Resume

3min
pages 22-23
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