THE GLOSSARY OF CAREER PATHWAYS

Having so many career sectors out there means a wide variety of opportunities and pathways for you to pick.

Career Sectors

Banking and financial services

Business and management consultancy

Electronic products

Engineering and manufacturing

Fast-moving consumer goods (FMCG)

Healthcare

Information and communication

IT and technology

Logistics, transport, and supply chain

Public administration and defence

Scientific research and development

Banking and Financial Services

Anexpansiveindustryinitself,opportunities in this sector can range from banking to insurance and risk management. For those lookingtojointhissector,graduatesshould havestrongnumeracyandcommunication skills, a strong work ethic, and be prepared to obtain professional qualifications as well.

BankingInsurance

This sector generally consists of global investment banks, which offer a wide variety of services, from corporate finance to trading. However, graduates can also choose to go into more specific areas, such as asset management and private banking.

Thatbeingsaid,itcanbedifficulttoget into this sector without some internship experience. On top of that, it is also important to have relevant extracurricular activities listed in your resume, such as being in finance societies in the university. Interested graduates will also need to stay updated on the latest news and developments in the sector, along with attending events by finance employers to get a feel for the type of employees they are after.

In addition, there are three notable componentswhenitcomestoabank,with all three having vastly different job scopes to choose from.

Front office – Those working here are often those who work directly with clients, as well as handle the needs of the bank itself. Positions here include sales, marketing, pre-trade and execution activities, all of which directly generate the bank’s revenue.

Most of these roles are client-facing, thus interested graduates should have good interpersonal and negotiation skills.

Middle office – Often working directly with the front office, roles in the middle office include risk management, compliance and finance control. They help to assess risks, track and calculate profits and losses, ensuring that the bank does not take risks they cannot afford.

Backoffice –Althoughitisnotinvolved in direct revenue generation, it is not any less important, providing vital support and administration assistance to the other two offices.ThisincludesIT,operations,HRand accounting falling under this category.

Insurance financially protects individuals and companies alike in the event of an unexpected, unforeseen event. This sector values graduates who are not only innovative and optimistic, but also excel in both number-crunching and handling clients, especially where changes are often commonplace.

Although the actual job title may vary from company to company, job roles generally fall into these categories.

• Graduate underwriters determine whetherapolicyshouldbegrantedtoa potential client, what conditions should be attached to it (if needed), and how much the client must pay in premiums. They work closely with actuaries and negotiate with insurance brokers.

• Claims management trainees handle and process compensation claims in accordance with their policies. This includes dealing with a claimant and determining if the claim made is valid.

• Trainee loss adjusters assess the extent of loss sustained by the policyholder, investigate its cause and determine whether the claim made is valid. They are usually independent from insurance companies and instead work for specialist practices.

• Graduateinsurancebrokers work with their clients to ensure that their needs are covered by the best and most cost-effective insurance products.

• Trainee actuaries are employed by insurance employers to manage funds and aid in analysing financial data and trends to complete financial forecasts.

While STEM (science, technology, engineering and maths) or businessrelated degrees are preferred, most insurance jobs are open to all graduates regardless of discipline. However, graduates should be equipped with quick-thinking skills, a keen eye for detail and client-facing skills.