gradsingapore 'Finance' Career Guide 2021

Page 51

BANKING & INVESTMENT - Areas of Work

OPERATIONS Support the running of banking, and investment organisations and process transactions, all while ensuring greater efficiency.

T

he operations department, also informally known as the “back office”, supports a firm’s revenuegenerating departments by ensuring business activities are performed smoothly, successfully and efficiently. It oversees the entire life cycle of a transaction, from initial preparations such as booking trades for traders, to posttrade processes in settlements. While it does not actively generate revenue, this area of work is key for business profitability through managing risk and minimising loss. Securities operations, for example, are responsible for ensuring that desks in linked markets have enough capability to communicate with each other. On the other hand, the risk function is in charge of ensuring that the company’s internal processes comply with regulatory guidelines.

General overview Most graduates start in a training programme before being assigned to an experienced analyst for mentoring and more on-the-job training. Work in the early stages can include introducing a new product or improving a control. Advancements in technology do not just enable companies to trade across multiple product areas and regions, and increase the volume and speed of processes; it has also allowed them to transact instantly. However, the sheer volume and extreme time sensitivity of transactions means that work can be challenging.

Required skills Excellent numeracy and analytical skills are needed for assessing and analysing transaction cycles, as well as generating contingency plans. A keen eye for detail and foresight to spot potential problems before they happen, along with exemplar communication and listening skills for interacting with numerous internal and external parties, are also valued. Keeping up with the latest developments in the financial services industry, such as regulatory changes and technological innovations, is vital. Because this line of work relies heavily on emerging technologies, learning quickly on-the-job and staying flexible in decisionmaking and scheduling are also crucial.

Pros and cons

Tr o u b l e s h o o t i n g problems even before they happen keeps professionals on their toes. Many firms also encourage selfimprovement among operations staff, with plenty of opportunities to forward their ideas for the enhancement of certain controls of the company and department. However, on the other hand, there is the chance these ideas may not be actively implemented.

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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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