2024 UNIT Careers Guide by UNIT Sydney

CAREERS IN FINANCE 2024

UNIVERSITY NETWORK FOR INVESTING AND TRADING

ACKNOWLEDGEMENTS EDITOR IN CHIEF: Alec Lu

UNIT CHAPTERS:

AUTHOR: Mingxi Shen

Software: Canva © University Network of Investing & Trading 2023

DESIGNERS: Sarah Chan Maya Guden Laryssa Latt

DISCLAIMER 1. The information in this free guide is provided for the purpose of education and intended to be of a factual and objective nature only. The University Network for Investing and Trading (“UNIT”) makes no recommendations or opinions about any particular financial product or class thereof. 2. UNIT has monitored the quality of the information provided in this guide. However, UNIT does not make any representations or warranty about the accuracy, reliability, currency or completeness of any material contained in this guide. 3. Whilst UNIT has made the effort to ensure the information in this guide was accurate and up-to-date at the time of the publication of this guide, you should exercise your own independent skill, judgement and research before relying on it. This guide is not a substitute for independent professional advice and you should obtain any appropriate professional advice relevant to your particular circumstances. 4. References to other organisations are provided for your convenience. UNIT makes no endorsements of those organisations or any other associated organisation, product or service. 5. In some cases, the information in this guide may incorporate or summarise views, standards or recommendations of third parties or comprise material contributed by third parties (“third party material”). Such third party material is assembled in good faith, but does not necessarily reflect the views of UNIT, or indicate a commitment to a particular course of action. UNIT makes no representations or warranties about the accuracy, reliability, currency or completeness of any third party material. 6. UNIT takes no responsibility for any loss resulting from any action taken or reliance made by you on any information in this guide (including, without limitation, third party material).

CAREERS GUIDE

CONTENTS

04 OVERVIEW OF 2023

SECTION 1 : THE INDUSTRY

SECTION 2: APPLICATIONS

Overview Investment Banking and Corporate Advisory Investment Management Global Markets (Sales and Trading) Stockbroking Proprietary Trading Professional Services Management Consulting Retail Banking Finance Support Roles Fintech

| 7 | 8 | 11 | 13 | 14 | 14 | 16 | 17 | 20 | 21 | 23

Job search tips Cover letter Interview Resume Test/Assessment Centres Networking Chartered Financial Analysis (CFA) The University of Sydney Careers and Employability Office Women in Finance

| 25 | 26 | 27 | 29 | 31 | 32 | 34 | 36

| 37

SECTION 3: OUR SPONSORS

SECTION 4: SUBJECT SELECTION

The University of Sydney UNSW The University of Melbourne Monash University Macquarie University STEM Subjects in Finance

| 51 | 52 | 53 | 54 | 55 | 56

Welcome to UNIT’s Flagship Careers Guide for 2024! In this publication you will find insights of the programs available from UNIT's sponsor companies, a description of diverse career paths in finance, tips for internship applications, interview and assessment centre preparation, subject selection help, and much more! We encourage you all to take advantage of any opportunities that come your way. It is never too early to start thinking about your professional development and we hope that this guide will help alleviate any stresses or dilemmas you may face along the way.

OVERVIEW OF 2023 One way to be introduced to the world of finance, and to prepare yourself is to learn and begin to understand the bigger picture and the state of the economy. From the wider global economy to stock markets and the world’s most well known equities, 2023 was no doubt another turbulent one, defined by many changes, challenges, but also opportunities and ongoing innovation. In terms of the global economic environment, Investors’ at the beginning of 2023 were wary worried about inflation and expecting a recession by the second half of the year. The RBA, following the tone of the US FED, hiked rates at 14 meetings accumulating to a total rise of 425 basis points since May of 2022. This wrapped up with the FED and RBA holding cash rates at unprecedented highs of 5.35% and 4.35%, with fiscal easing to be expected, should inflationary pressures continue to slowly ease. As of the beginning of this year, economic resilience observed in most developed markets is helping boost the global outlook for 2024. On the geopolitical front, the past year unfortunately also ongoing major conflict wreck havoc across many continents - whether it is the expansion of the ongoing Russia-Ukraine war, the Middle East conflict ignited by the Hamas attack on Israel, or the potential advances of China in the Taiwan Strait. Beyond the humanitarian crisis, these conflicts are already troubling the barely recovered global supply chain and stability of the current ‘world order’ and the power of the United States.

2023 also saw the rapid saturation of AI into the daily lives of people across developed economies. and clearly reshaping how we work, and consume information. Generative AI platforms such as ChatGPT is the main catalyst for the increased usage that also prompts awareness for more concerning uses like deep fakes and cyber security. Thus, amid strong sales of computer chips and batteries, technology and growth stocks were some of the strongest performers in 2023, particularly after a more stagnant and poor record in 2022. The US tech-heavy Nasdaq rose 44.6%, largely attributed to just a handful of companies - recently dubbed the Magnificent 7.

Despite the fact that recession concerns appear to have eased, the outlook remains uncertain, where geopolitical factors are expected to be a major source of volatility and important influence on global economic developments in the year ahead. As much as the world continues to support the tech boom, there are increasing fears that the speed at which the space is growing is largely outpacing the ability for regulators and governments to intervene before it gets out of control.

06 SECTION ONE THE INDUSTRY

OVERVIEW OF THE FINANCE INDUSTRY

What is finance? At its core, finance can be defined as the management of money and practice of allocating monetary resources under conditions of risk. Finance can be split into three distinct categories; public finance, personal finance, and corporate finance. This guide will be mainly focusing on career opportunities within corporate finance, where you will learn about the financial markets, and how companies finance their activities through different capital sources, make choices about major investment decisions and the risks involved, and how it delivers value to all its shareholders.

What are financial services? Financial services refer to the services provided by the financial industry and organisations in the management of capital. Such Whatinvolved are financial services? organisations may include banks, investment Financialbanks, services refer to the services provided by the insurance companies, asset management financialfirms, industry the and and stockorganisations brokerages. involved Its clientsin include management of capital. Such organisations encompass individuals, businesses, non-profit organisations, banks, investment banks, insurance companies, credit card and government agencies.

companies and stock brokerages. Its clients include individuals, businesses, non-profit organisations, and The financial services industry offers a broad government agencies. The financial services field offers a range of career opportunities that cater to broad range of career opportunities that cater to different different and employers interests. As employers skills and interests.skills As such, willsuch, have different will have different expectations in regards to your expectations in regards to your personal and professional personal and professional qualities as they qualities as they assess your compatibility for the role.

assess your compatibility for the role.

INVESTMENT BANKING & CORPORATE ADVISORY Investment banks are institutions driving the growth of public and private companies, acting as the intermediaries which fuel these companies with capital - the monetary means of growth.

What do they do? Investment bankers generally hold the role of corporate financial advisors. In this capacity providing various financial advisory and capital market services to corporate and government clients involved in public and private equity raisings and corporate restructuring. Investment banks assist in large, complicated financial transactions and are the driving force behind headline IPOs, billion-dollar mergers, and cross-border investment deals. In facilitating transactions, investment banking refers to working in firms on the sellside - from traditional underwriting and selling securities to raise investment capital to advising complex M&A deals and for growth and expansion and industry consolidation.

Transactions involving the sales of entire companies can easily be in the millions, making for highly lucrative commissions, and a hugely profitable business. These efforts often take months of work, with bankers often working long hours during live-deals to fine-tune transactions. Some deals can take over a year of early engagement before action, and typically many more months before the deal is closed. Investment bankers need to not only understand the market but are excellent analysts and problem solvers who can communicate clearly and effectively and have impeccable attention to detail, even after hours of pouring over Excel spreadsheets.

The Investment Banking Industry The investment banking industry can be split into three different tiers:

BULGE BRACKET

MIDDLE MARKET

BOUTIQUE MARKET

Bulge Bracket firms make up the world’s largest and most renowned investment banks, whose clients are usually large corporations, institutions and government entities. As a catchall term for this class of large global investment bank, "bulge bracket" commonly refers to Bank of America Merrill Lynch, Goldman Sachs, Barclays Capital, Credit Suisse, Deutsche Bank, JPMorgan Chase, Citigroup, Morgan Stanley, and UBS. While on a smaller scale to the US market, Australia has several notable home-grown middletier investment banks, led by Macquarie Bank and more recently, Barrenjoey and Jarden. On another level down in size, Australia also is home to some well-regarded boutique investment firms including Luminis Partners, Allier Capital and Azure Capital, and the Big 4 Banks investment banking divisions. Despite not as prestigious, these firms offer valuable opportunity to be specialising in not only a specific geographic region but also a specific function or industry.

Breaking Down the Divisions Product Groups

Industry Groups

Mergers and Acquisition (M&A)

Technology, Media and Telecom (TMT)

Equity Capital Markets (EQM)

Healthcare and Life Sciences

Debt Capital Markets (DCM)

Financial Institutions Group (FIG)

Leveraged Finance Level (LevFin)

Oil and Gas (O&G)

Corporate Restructuring (RX)

Consumer Goods and Retail

Structured Finance

Financial Sponsors Group (FSG)

The industry coverage groups are exposed to deals across all product categories, but only within a specific industry. The product groups specialise in the execution of a particular type of corporate action. At a high level, product groups give breadth in terms of industry exposure but specialisation in terms of deal type.

M&A M&A teams will be responsible for working on both sell-side and buy-side M&A transactions across all of the bank’s different industry groups. M&A provides buyers looking to achieve strategic goals via inorganic growth strategies as an alternative to organic growth, while giving sellers the opportunity to cash out or share in the risk and reward of a newly formed business. The M&A group is widely perceived as the most modelling-intensive and technical product group relative to other groups.

Capital Markets Capital Markets are often separated into two streams that help their clients raise funds via the capital market. Debt Capital Markets (DCM) teams provide advice on raising funds through the trade of debt securities, including corporate bonds, government bonds, credit default swaps etc. DCM teams are typically exposed to a wide range of clients as debt can be raised for corporations, agencies and sovereign entities. Clients are looking to access a global pool of investors looking for opportunities in acquisitions, and facilitate the refinancing or restructuring of existing debt.

Equity Capital Markets (ECM) teams are focused on raising equity for clients through the capital markets - meaning that a company sells a certain amount of ownership in the company in exchange for cash. When working for ECM, deals can involve initial public offering (IPO), executing followon offerings for public companies wanting to raise additional equity capital, as well as secondary offerings, of selling existing shares to other investors.

INVESTMENT MANAGEMENT

Investment management refers to the selection, monitoring and allocation of a client’s assets in order to meet specific mandated investment performance objectives. Investment managers are entrusted with a client’s cash and have a fiduciary duty to invest that cash according to predetermined investment philosophy and process. Investable assets may lie in both the public (shares, fixed income, derivatives, commodities and currencies) and private markets (venture capital, infrastructure and real estate). In investing large sums of cash, firms in the field of investment management are described as being on the buy-side of corporate finance. Clients can range from institutions - such as insurance companies, corporations, charities and university endowment funds, to private high net worth individuals. Investment due diligence refers to the research, monitoring and assessment of potential investment opportunities. An investment manager’s performance is often compared to an index benchmark such as the S&P 500 or ASX200. Some other commonly used benchmarks include MSCI and Bloomberg indexes which show performance across many international countries and regions. Bond benchmarks, or inflation, can also be used to great effect in certain instances. As such, any deviations in the constituents and weighting of a fund’s portfolio are expected to generate abovebenchmark returns (i.e. alpha). Beyond consistent client communication regarding performance and any changes to asset allocation, these interactions become especially important during periods of market downturns when risk of fund withdrawal is highest.

Sub-Sections of Investment Management

Pension Funds

Private Equity

Employers in Australia are required to pay a percentage of employee earnings into a super account, which are managed by selected funds. The money provided through these super contributions does not sit idly until it is withdrawn at retirement, the fund is responsible for managing and investing the money in a variety of asset classes depending upon the superannuation product chosen. A super fund is generally more conservative due to the nature of its client base, opting for diversification across a range of asset classes to offset idiosyncratic risk. Furthermore, due to the more community oriented nature of such investment, they also possess a proactive stance towards sustainable and ethical investing and are subject to high regulations from APRA.

Private equity (PE) funds invest in the private markets and provide financing to unlisted businesses. PE funds pursue growth and seek to invest in businesses where there is an opportunity to eventually sell at a higher multiple, with the aim of recovering the investment by selling the organisation or taking it public later. The holding period is often 3-5 years and usually involves private equity owners taking an active management approach. The key skill required to work in private equity is the ability to source opportunities and investigate their viability. Overall, private equity would be attractive for those interested in not just investing in businesses, but also playing an active ownership role in devising and executing a growth strategy.

Hedge Funds

Similar to private equity funds, venture capital invests in high-growth potential companies, primarily startups and early-stage businesses which have high long-term growth potential. Venture capital generally provides financing in exchange for equity and this allows venture capitalists to have oversight over management decisions. Many funds also provide strategic advice, access to existing customer networks and industry expertise in addition to financing. Dealsourcing is the key skill required to work in venture capital and the majority of time will be spent meeting with entrepreneurs and networking. Unlike private equity, valuation and financial modelling play a more limited role given the pre-revenue status of many potential investments.

Hedge funds and other managed funds serve largely the same function of generating a return on investors’ wealth through a managed portfolio, but there are large differences in methodologies and investment approaches. Hedge funds are not restricted by many of the regulatory requirements enforced on super and mutual funds, nor are they required to disclose strategies and abide by mandates. Moreover, hedge funds are mostly targeted at high-networth individuals, with greater investment flexibility including using strategies such as hedging.

Venture Capital

GLOBAL MARKETS Sales and Trading The world’s global markets run 24 hours a day with markets operating across time zones in different areas of the globe. They involve everything financial from equities, fixed income, derivatives, currencies, and a growing range of alternative assets such as cryptocurrency. ‘Sales’ and ‘trading’ are two distinct but complementary operations. The function of a sales and trading division within an organisation is to ensure both the accurate structuring and orderly sale of financial products to institutional investors and other clients. Note that agency trading is clientfocused, and should not be confused with proprietary trading which focuses on investing the company’s own money. The sales team effectively works to sell financial products to clients - generally financial institutions and high-net-worth individuals looking to buy equities, fixed income products, or any other financial instruments to meet their specific needs. Once the sales team has confirmed an order with a client the traders are responsible for completing the order in the market.

On the trading floor Unlike the chaotic ‘trading pits’ depicted in iconic Wall Street movies, trading floors in large investment banks today operate in a much more orderly manner. On a trading floor today, you will find a large open room filled with long desks with multiple monitors sectioned off per person and grouped according to the fields of trade. The large amount of data displayed on the screens are essential in providing the traders with live data, blue-chip price swings, and other headline variables. Traders are required to multi-task continuously, constantly assessing risk, calculating the best timing to execute trades, and keeping up to date with client requests. Bloomberg is a key financial information service that all banks and traders have access to - it is more or less the all-in-one portal to relevant news and public financial data. To trade, industry experts generally use in-house trading platforms to execute their orders. Popular platforms include FlexTrade, Fidessa, and Goldman’s REDIPlus platform. Typically, a firm that offers sales and trading will have other divisions that complement this function. Sales and trading are inextricably linked to the work of financial analysts, who design and formulate bespoke financial products catering to the requirements of particular clients. These financial products may be as obscure as collateralised mortgage obligations or asset-backed securities or as simple as futures contracts. Additionally, the research division, which produces reports on financial markets, works with sales and trading to provide research to clients in the hope of being mandated to execute their trades.

Stockbroking A stockbroker is an entity or individual that trades (buys and sells stock) on someone else’s behalf and charges a commission for it. It is one of the first professions to have taken root in the finance industry; as long as there have been markets, there have been stock brokers. Historically, the functions of investment advice and order execution were deemed as inseparable facets of stockbroking. Nowadays, discount brokers which charge moderate commissions and provide no investment advice, have turned the industry on its head.

What do they do? Stockbrokers, whether they are actual brokerage firms or individual broker-dealers, are often registered investment advisors and have the necessary certification by the regulators of exchange to execute trades – something which ordinary retail investors are not allowed to do. In other words, if you need to buy a stock at a certain price, you tell your stockbroker and they do it for you, taking a slice of the pie along the way of course.

Proprietary Trading Proprietary trading can be viewed as an additional or peripheral function in an organisation. The company is utilising a portion of its capital to trade in order to generate extra profits, boosting the overall financial position of the company instead of earning commissions by trading on behalf of its clients. It constitutes an additional stream of income separate from the company’s primary business. Proprietary trading is popular, particularly amongst brokerages, as they feel that they have a competitive advantage over other players in the markets. Proprietary trading is very similar to managing endowments at elite charitable institutions and universities around the world, whereby a professional investment team makes use of dormant money to generate surplus income. An ideal example would be that of a proprietary trading desk at a brokerage firm, where the broker is making profit in two ways: one, by earning commission by trading on behalf of other people, and, secondly, by directly trading in the markets.

Benefits of working in trading One of the major benefits of working in trading, as compared to many other finance jobs, is that once the stock market closes (around 4-5pm) your responsibilities wind down, since you’re not able to buy or sell stocks after that time. As such, the work-life balance could be outstanding. You’re also given the opportunity to build a strong client network.

What does it take to be a trader? If you have ever come across a live price chart feed on a trading terminal or have simply looked at live tickers on the market floor, you can deduce immediately that numbers have a huge role to play in trading and stockbroking. Therefore, a natural affinity for numbers, percentages and ratios is highly desirable. Quantitative proprietary trading firms will usually require extensive mathematical, statistical, or computer science knowledge over a finance background. Other discretionary trading firms may not require any specific skills as they’ll have training programs to teach you the technical trading methods. Finally, other prop trading firms may require fundamental valuation knowledge which is most suited to the typical finance skillset. Boosting your presentation and soft skills can provide you with an edge over other applicants in this client focused industry.

PROFESSIONAL SERVICES Overview Professional services encompass a broad range of various occupations, but ultimately a career in professional services involves providing support and specialist advice to clients. These clients are also diverse and can include small-medium enterprises, multinational corporations, governments to not-forprofit organisations. Professional services offer a diverse working experience, with much of the work will be project-style and client-based rather than performing a set of daily tasks - providing an exciting opportunity for existing skills to be applied in various different scenarios. The teams and people you work with will also be diverse in both experience, background and personality. As you work on each project, you will be constantly liaising with the client, developing fruitful relationships which may prove invaluable in the future.

The Big 4 firms – KPMG, Deloitte, EY and PWC– are the four largest professional service networks in the world, offering services in various business areas, most prominent among which are: auditing and accounting; advisory and consulting; tax, risk and legal advice.

Transactions and Corporate Finance As part of a Transactions/Corporate Finance team, your role is to advise clients on how to best allocate and acquire capital. This may involve developing financial models, identifying M&A opportunities, compiling data on past transactions and preparing due diligence presentation materials.

Advisory/Consulting Advisory/consulting offers the most varied work experience. You can expect to spend time researching current regulatory developments, constructing financial models, reviewing client business practices and contributing to strategy recommendations. Some consulting services may include Strategy analytics, human capital, core business operations, enterprise technology, and more.

Auditing/Accounting In Auditing/Assurance, you will be responsible for assessing the legitimacy of financial reports and providing confidence for the external stakeholders of businesses like investors, suppliers and regulators. This may involve helping clients adjust to new accounting standards and liaising with clients to obtain information to fulfil regulatory requirements.

Tax A typical day in the Tax team may involve identifying and implementing strategies to minimise tax liabilities, maximise tax incentives and researching and evaluating the impact of upcoming tax issues.

MANAGEMENT CONSULTING Overview Management consulting is working with businesses to identify solutions to problems to maximise business performance, improve business processes, and increase revenue. Management consultants are professional experts who provide solutions and strategies to improve the financial and operational health of an organisation. The recommendations made by management consultants are backed by large amounts of research and data. Clients hire management consultants primarily as objective third-party analysers of an organisation, including businesses, government institutions, nonprofits, and more. Working with management, strategy consultants help to define goals, assess the current situation, build actionable strategies that consider timelines, resources, and potential obstacles. Other times, these organisations simply come across problems they’ve never experienced before. Management consulting firms who have worked on similar projects for other clients are able to provide their industry expertise and advice. A strategy consultant helps organisations stay competitive in their respective industries and fields by providing tailored advice and guidance on strategy development.

Management consultants typically focus on three main areas:

EXPERTISE & SPECIALTIES

02 ANALYSIS

PROJECT MANAGEMENT

Management consultants offer their expertise to businesses in several domains. These may be general or very specialised and include: Business strategy, restructuring, Strategic management, Risk management, M&A, Digital transformation, Business processes.

Management consultants perform in-depth analysis and research relating to the areas they are working on within an organisation. You'll need to remain objective and unbiased to provide a clear perspective of the problems that need solving.

Management consultants are hands-on when it comes to implementing the solutions they identify. You'll work with teams to deliver and monitor solutions, working directly with senior management.

The top 3 management consulting firms - or colloquially known as MBB - refers to McKinsey & Co (McKinsey), Bain & Company (Bain) & Boston Consulting Group (BCG). While they are not the largest firms, they are the most prestigious in the industry with a focus on pure strategy. Clients trust them to provide exceptional quality work and they have earned their reputation as a result. Part of this reputation is derived from their diverse clientele which includes multitudes of Fortune 500 companies that rely on MBB consultants for complex and large-scale restructuring initiatives. The rest of the market comprises mid-tier / boutiques as well as the Big 4 (KPMG, EY, Deloitte & PwC) previously mentioned - who do have strategy consulting arms that compete with MBB firms, the bulk of their business remains related to accounting.

MBB

TIER 2

OTHER

MCKINSEY & COMPANY, BCG, BAIN

L.E.K CONSULTING, KEARNEY, OLIVER WYMAN, EY PORT JACKSON PARTNERS, STRATEGY&

NOUS GROUP, ALTMAN SOLON, ACCENTURE STRATEGY

Why work in Management Consulting? Management consulting is one of the most sought-after fields in the business world, boasting the potential for lots of air travel, working on complex business problems, and exposure to top level management. While all these truly are great components of management consulting, the reality is that the industry is not for everyone.

PROS

CONS

Fantastic learning opportunities

Fast client turnover tangible results

Management consulting firms offer an amazing learning opportunity for consultants at all levels. This is due to a few reasons: Work with the largest companies in the world Exposure to top level management Learn from and work with intelligent and driven colleagues Skills development & expertise

Flexibility and variety Management consulting firms offer a unique opportunity to learn from a broad range of people, problems, and industries. Different locations and teams Exposure to a wide range of objectives across multiple projects Projects across various different industries

lack

While the variety and pace can be stimulating, management consultants rarely get to see the results of all their hard work because as soon as a project is over, they need to move onto the next one.

Stress and expectations Working with some of the largest companies in the world means the stakes are usually quite high. Time can often be consumed with client and team meetings, interviews, workshops, problem solving, focused group discussions, and client communication. The industry is extremely fast paced and there are constant deadlines that result in long hours.

These experiences also offer an amazing chance to develop skills that are attractive to employers in various other fields, including private equity, start-ups, and corporate strategy roles, offering a diverse set of exit opportunities.

RETAIL BANKING Overview Retail banking - or consumer banking - refers to the mass-market banking in which individual customers (like you and me) use local branches of larger commercial banks. Generally, this service aims to encompass all the financial services that may be required by an individual retail client. Retail bank’s representatives cater for individuals and small businesses by providing an entire suite of services including; savings, checking accounts, mortgages, personal loans, internet finance, and certificates of deposits. The ‘Big Four’ banks of Australia - Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac Banking Corporation (Westpac) - are the main competitors in the Australian retail banking sector and are all ranked among the world’s 50 safest banks. The retail banking industry in Australia has always aligned itself to the ever-changing consumer demands, by fine-tuning its services and customising its products. As a one-stop shop for all retail financial services, retail banks have a diverse range of services for which employees can specialise in and transfer between. Retail bankers play a vital role in the financial industry by helping individuals manage their finances and achieve their goals. This is a rewarding position that offers plenty of opportunities for career advancement within the retail network and other areas of the firm. Given below are some of the functionalities provided by banks, as on date, which give customers the ability to carry out a growing range of financial tasks on-the-go.

Mobile payments - This is facility provided by Commonweatlh Bank to make Mastercard PayPass puchases. This allows payments to be made by tapping the phone at a merchant’s terminal, where such payments are accepted (on smartphones where this app is not supported, a device called PayTag allows customers to use this facility).

Cardless Cash - This app allows the cutomer to withdraw from accounts without using a card. The app also has a feature where the customer can even allow someone else to collet the money by nominating them through the app.

P2P payments - Payments can be made to a registered Australian mobile number (limited to Australian bank accounts

Other services include setting a limit on daily transactions, BPay for bill payments, checking transaction history, checking balance, and making transactions between accounts of the same or different banks

FINANCE SUPPORT ROLES Overview Financial support roles comprise mostly of middle & back office roles – which include human resources, investor relations, compliance, accounting, IT support and many more. While these roles tend to be non-revenue producing, they are nonetheless an essential part of financial services – ensuring that the front-office is able to run smoothly, that operations and accounts are all in check, and risk is being effectively managed. In general, the work in financial support roles tend to be less pressured as they are non-revenue generating, and they aren’t communicating with clients as often.

Risk-Management Evaluating the riskiness of front office activities and ensuring that deals are being effectively processed Responsible for the objective review and challenge, oversight, monitoring and reporting of a firm’s internal material risks - both financial and non-financial. Credit, Market Risk Regulatory Affairs and Aggregate Risk Financial Crime Risk Compliance Operational Risk Behavioural Risk Enterprise Support Internal Audit.

Operations Drives the operational effectiveness of the business and brings together specialist support services in a variety of fields Digital Transformation & Data Human Resources Business Services - Corporate real estate & procurement Business Improvement & Strategy

Financial Management Financial management is all about monitoring, controlling, protecting, and reporting on a company's financial resources. Companies have accountants or finance teams responsible for managing their finances, including all bank transactions, loans, debts, investments, and other sources of funding. Treasury : managing the funding, capital and liquidity position, helping to manage balance sheet risk Finance : provide financial management and control advice, management reporting and forecasting, regulatory and tax reporting and business advisory services Tax : provide advisory services and technical support to ensure the business meets tax compliance obligations

These roles have decent upside potential without some of the stress or pressure you may hear of careers in the ‘front’ office and offer a stronger work-life balance. Working in these supporting roles will allow the individual to specialise in a particular area of expertise, such as accounting, IT, or strategic management. This is more suited to an individual who wants a linear career path in a specialised area, as opposed to the diverse work a consultant may have. Furthermore, it is possible to specialise in areas that don’t use the typical finance skill set and employers are increasingly focusing on transferable soft skills over technical hard skills, and seek students who are well-rounded and interdisciplinary which offers great opportunities for students who do not study a finance or related major.

FINTECH Overview Currently, one of the hottest sectors is the fintech industry, which encompasses a broad range of businesses and roles. As the name suggests, fintech refers to the intersection between “finance” and “technology” and a career in this industry involves devising technology based solutions to collaborate with or disrupt the financial services industry. Working in fintech provides the opportunity to help drive products and services that can have a real and significant impact on people’s lives. The COVID-19 pandemic has played a key role in FinTech’s growth in Australia and there are plenty of established organisations engaged in fintech, notably the big banks. Lockdowns changed how customers and companies engaged in business, and those changes are expected to have a lasting impact. As a career path, it’s attractive to those who are looking to work with and be part of the latest technological innovations, while still being part of the world of finance.

What do they do? Fintech is a diverse sector, and a characteristic of the entire fintech industry is the sheer number of roles that are available, and will continue to expand as businesses continue to migrate into the digital ecosystem:

Web App Development

UX/UI

Product Manager

The demand is strongest for app and site developers, especially iOS, Android, SRE and full-stack developers. This group forms the crux of fintech companies and are responsible for translating business ideas into tangible innovations.

Much of the success of fintech products depends on consumers' enjoyment of using the product. UX/UI (user experience and user interface design) roles are also being increasingly coveted as banks and fintech companies seek to make their applications user-friendly and intuitive maximising the functionality and the overall ‘look’ of the app.

For less technology-focused individuals, a suitable role is product manager. Their responsibility is to forge strategic partnerships with financial institutions and merchants to create solutions with a large number of use cases and understand client needs to develop an innovative solution. Like other industries, they work with various departments throughout the product life cycle to conceptualise the product and bring it to market.

Compliance

Blockchain Developer

Data Scientist

Compliance within the fintech sector involves several responsibilities associated with ensuring that all relevant governmental regulations are recognised and followed. Examples include privacy policies, EULAs (end-user licence agreements), corporate governance, and storage of proprietary data. Knowledge of relevant legal requirements and concepts such as ESG (environmental, social and governance) principles is a must.

LinkedIn kicked off 2020 with the news that blockchain is the most indemand skill in developed markets. Blockchain developers have high level technical skills, starting with front and back-end web development, with a deep understanding of data structures, cryptography and smart contracts.

Data science is important in fintech as it enables companies to make datadriven decisions through identifying trends, making predictions, and optimise their operations to deliver better financial services to their customers. A fintech data scientist primarily focuses upon the analysis of hard data such as fraud detection, client acquisition and algorithm-driven financial planning.

24 SECTION TWO APPLICATIONS

JOB SEARCH TIPS Get Organised

Active LinkedIn Presence

Develop a system with a checklist of processes to make your time hunting for a job shorter and less anxiety-inducing. This system should include: Identifying your target industry and universe of organisations Allocating a realistic amount of time per week to research employers Setting attainable, quantifiable goals (the number of job applications/coffee chats/ interviews a week) Keeping on track the progress of each application

Having a Linkedin is a good start, but there is much more you can achieve through your profile. Consider your profile from a prospective employer’s perspective and use your social media presence as a selling point. This can mean showcasing your projects and achievements such as case competitions, writing blog articles or opinion pieces and attending university society events.

Tap Into a Range of Avenues

Be Self-Aware

Like in any venture in finance, diversification is key and try to go beyond just applying for advertised jobs in your search. Try your hand at cold-emailing, reaching out to mutual contacts and university alumni in the industry or leveraging university careers centres and job boards. Make sure to conduct thorough background research and tailor your communication accordingly as to not approach with a lack of passion and interest.

You can also boost your presence by following and liking posts from prominent organisations in your target industry.

Knowing yourself is key to communicating with prospective employers and this means being able to identify your key traits: Goals Strengths Weaknesses Communication style Key experiences Clearly articulate what sets you apart from everyone else and the best way to do this is develop a succinct, interesting and memorable ‘Elevator Pitch’.

Most importantly... remain persistent! Even when incorporating all of the above into your job search, the market will always be competitive for students and it is imperative that you keep your chin up despite any roadblocks or rejections that you may face.

COVER LETTER TIPS Make it personal with your story This is the hallmark of a memorable cover letter. Not only does it differentiate you from other applicants, but a story also gives your application a sprinkle of authenticity and persona. How? Craft a story into your letter detailing the why and the how, stepping the reader through how you have come down your path, what makes you the person you are, and why you have decided on them as an employer.

Relate relevant experience to the role This is probably the most cliché tip you’re ever going to get, but it is an essential one nonetheless. Always relate your prior experiences, whether it is in volunteer work, an internship, or even a part-time role that you’ve had, to the actual role that you’re applying for. Be sure to clearly and concisely outline why those past experiences specifically make you a desirable applicant for the particular role that you’re applying for

Keep it short and simple First impressions matter! There is no going past this reality. Do this by keeping your cover letter visually appealing and easy on the eye. Now, by ‘visually appealing’ we don’t mean colour coding the document- you could if you like - but just make sure that you divide the points that you’re making into individual paragraphs. For instance, in the first paragraph start off with introducing yourself, in the second paragraph highlight your prior experiences, the third could be on why you’re applying for the role, and in the last one you can convey how much you really want it. All in all, keep it nice, tidy and visually simple.

Show you've done your research This is extremely important. We can’t stress it enough. Do some research about the company and the role that you’re applying for. Look for unique characteristics and be sure to mention them in the cover letter to demonstrate that you’re genuinely interested in working in the company. For instance, a particular company might have generous study leave programs for employees. Mentioning things like these not only demonstrate your passion but also set you apart from the crowd and under a page.

INTERVIEW TIPS 01 DO YOUR RESEARCH

Make sure you have a good understanding of the company and what you are signing up for! Ensure that you have read up on some of the skills that the job requires, and that you are up to date with current affairs and business news and trends. That being said, you will not be expected to know the answers to every single question. It is okay to say “I don’t know,” but it is always advisable to show your interviewer that you are willing to learn and even speculate as to what the correct answer may be.

Remember, you are always selling yourself in an interview! Make it a point to tell and show your interviewer why it is they that should be hiring you. Do you think you have great communication skills and the ability to perform in team situations? Ensure you prepare some anecdotal examples of where you have excelled in such situations. Better yet, show your interviewer evidence of your skills!

Whilst it is important to sell your good qualities, it is important not to give off an arrogant or overconfident image either. Moreover, employers want to see you recognise your own weaknesses, as well as develop a plan of action to improve upon them. Not all people are perfect, and a degree of humility and honest self-reflection is an important demonstrator of someone who is willing to accept their shortcomings and constantly seek growth and development.

Being nervous is normal! Anyone would be if placed in such a high-stress situation, with so much at stake. However, try not to let it get in the way of the interview. Fidgeting and constantly shifting eyes are a dead giveaway of someone who is both extremely nervous and lacking in confidence. Plant your hands somewhere firmly, and do your best to maintain eye contact throughout.

BE MARKETABLE

STRIKE A BALANCE

IT’S OK TO BE NERVOUS

INTERVIEW TIPS (cont.)

05 TAKE YOUR TIME

SMILE AND LAUGH

STAY ENGAGED

In tandem with tip number 4, make sure to take your time during the interview. This can help with the nervousness and reduce the amount of stuttering and ‘um’-ing. If you are asked a question which you are unable to answer off the bat, it is perfectly fine to ask for the interviewers to give you a moment to think. Again, moderation is key! You shouldn’t be doing this after every single question, nor should you remain silent while pondering. Awkward silences are not fun for either party!

Smiling and laughing is a great way to dispel the often exaggerated tension and formality in an interview. Your interviewers are human too and a light-hearted comment may lead you to a lengthy conversation. This is also a great opportunity to show off your sense of humour, personality, and ability to communicate with others.

Finally, make sure you remain engaged throughout the interview. Wandering eyes and asking interviewers to repeat questions are all signs that you are not interested in the job you have applied for, and is understandably a huge red flag against you! A great way to show your engagement is to ask the interviewers questions about the job you have applied for. What other technical skills will you need? Where does your division fit into the greater company structure? Asking questions shows a keenness to learn, and genuine interest in the firm.

RESUME TIPS SPECIFICITY Focus on what you did in the job and use action verbs to start each point Avoid using the generic descriptions of the jobs you originally applied for or held Quantify and be specific about your accomplishments

BREVITY Prioritise detail about your current or recent jobs It is ok to mention past roles even if unrelated to the role you want to pursue now just make it brief Keep it under two pages

FORMAT & DESIGN Use a logical format and wide margins and clear headings Selectively apply bold or italic typeface to guide the reader’s eye Use bullets to call attention to important points Avoid cluttered and complicated layouts and tables

RESUME TIPS

EXAMPLE CV TEMPLATE

TESTS & ASSESSMENT CENTRES Congratulations! Firstly, making it to the assessment centre is a huge achievement! You have made it through resume screening, numerous psychometric tests and multiple phone or video interviews to be invited to the assessment centre. This is a testament to your achievements and all-round capacity to succeed in the position you have applied for. Keep in mind, you’ve been invited to the assessment centre because they want you. All that’s left for you to do is to confirm that choice.

Research the company

Be prepared to complete both individual and group based tasks

Knowledge of the industry

The assessment centre stage is used by companies to gain a personal insight into who you really are, your teamwork and interpersonal skills. In order to succeed at the assessment centre, it is vital that you cover at least three key areas: 1. Researching the company and the role you have applied for is arguably the most important thing to prepare for. Being unprepared shows a lack of dedication and interest in the role. Furthermore, it benefits you as well - how do you know you’re interested in the job if you don’t know anything about it? 1. Be prepared to complete both individual and group based tasks. Even though every assessment centre will differ in some way, you will most likely be joined by 10-20 other candidates on the day so most activities will revolve around group activities. These can range from case studies, roleplaying scenarios, and problem-solving games or presentations. In addition, you may also have to complete some solo activities, including tests or further interviews. 1. Knowledge of the industry, economic news, or other technical skills (such as DCF modelling) are not always necessary for every role - but general awareness of the financial landscape is always appreciated and will often benefit you amongst other candidates

NETWORKING

Get Started Often the hardest part of networking for university students is getting started, especially when they do not know anyone working in the industry. To start, join societies and look out for networking events held throughout the semester. These events tend to be educational and an easy-going environment that makes it ideal to meet other professionals - with many attendees being well connected with alumni working in a variety of different roles.

Dress Well It's important to ensure that you dress in a way that represents you and gives off the right perception. Networking events can range in formality but usually can be categorised as the following - commonly indicated in event details. Business formal: this calls for the complete formal business attire, including a full-suit with a button-down shirt, slacks/skirt, blazer, a tie for men and often heels for ladies. This will usually be the appropriate dress code for cocktail networking events and networking with professionals from the banking industry. Business casual: also known as smart casual attire - gives a bit more flexibility and depending on the setting or type of networking event, jeans and sneakers may be acceptable. Just remember that you are still at a work-related event and will need to balance your attire with professionalism. When in doubt, nothing brings together a professional outfit quite like a blazer dress it up or down to meet your needs. Remember that confidence is often the best accessory, which can be very helpful when dealing with the nervousness of trying to connect with industry professionals.

Quick Fix to Nervousness A simple greeting may be all it takes to start a conversation - after that, you can let your curiosity drive it. More often than not, the directors or alumni you’re speaking with have been in your position before and fully understand your nervousness. Make sure you try to relax, and make the most of the opportunity.

Engage Remember that you are having a conversation with them, so to a certain extent, let them figure out what makes you brilliant rather than spewing your fiercely memorised facts about recent market conditions or numbers from recent deals of each firm. If you are truly interested in the industry, then you will no doubt have questions about it. Company representatives will feel appreciated when they can enlighten you, so don’t be afraid to ask. Equally as important as asking is sharing, whether that be an appropriately funny story or some concern for the state of finance - open up to them, and they might just open their doors for you.

Follow Up IIf you made one good connection out of the hundred you spoke to at an event, try and follow up with them. Ask them to catch up for a coffee in the future, connect with them on LinkedIn if it’s appropriate, and if you’re applying for a job at their firm ask them for some more information on the position. A one-on-one personal connection is worth a lot more than vaguely knowing ten people you met once. Plus, it gives you the opportunity to ask questions that you might not be able to ask at a large event. Additional note: If someone does meet with you for coffee, make sure to send them a thank you email/message afterwards.

33 32

CFA The Chartered Financial Analysts (CFA) Program is a 3-staged education curriculum (Level I, Level II and Level III), involving three corresponding exams that tests the fundamentals of investment tools, valuing assets, portfolio management, and wealth planning. The CFA Program is typically completed by those with backgrounds in finance, accounting, economics, or business.

CFA Program Benefits Demonstrating Your Expansive Knowledge and Skills The CFA Program provides a strong foundation in advanced investment analysis and realworld portfolio management skills. Ongoing input from industry experts ensures that the curriculum remains relevant and prepares charterholders to enter today’s market.

Relevant in a Variety of Career Paths CFA charterholders occupy a range of investment decision-making roles, typically as a research analyst or portfolio manager. CFA charterholders go on to enjoy lifelong careers in asset and wealth management, investment banking, commercial banking, and consulting, alongside a diverse range of career paths in and outside the industry.

Value in an Evolving Industry As a globally recognized credential in the investment management profession, the CFA® designation is a mark of distinction and highly valued at more senior levels.

To become a regular Charterholder, you must acquire four years of professional work experience in investment decision making before, during or after completion of the Program.

CFA® CHARTER VS. MBA VS. CPA VS. CFP Benefits

Career Path

Requirements

Cost

CFA Charter

Investment Analyst, Portfolio Manager, Strategist Consultant, Wealth Manager

3 exams & one of the following: Bachelor’s degree Be within 23 months of graduation from the date you sit for the Level I exam Combination of 4,000 hours of full-time work experience and university education accrued over min. 36 months

MBA

Business Manager, Portfolio Manager, Financial Analyst, Strategist Consultant

Master’s Degree (23 years)

CPA

Accountant, Financial Manager, CFO

4 exams Bachelor’s Degree 150 schooling hours

CFP

Financial Planner, Financial Advisor, Investment Advisor, Financial Consultant, Wealth Manager

1 exam Bachelor’s degree with coursework in financial planning 4,000–6,000 hours of work experience

~$3,800*

~$80,000–125,000

Min. ~$1335

~$1500

Preferred by nearly 90% of executive and senior level positions in investment management positions

Not a requirement for most positions

Increasingly becoming more required

Required to become a financial planner

Investment tools & valuing assets

Broad list of business concepts

Auditing, business concepts, accounting, regulation

Financial and investment planning

Difficulty

8% pass rate for Level I

Depends on individual university

53 - 64% pass rate

62-66% pass rate

Key Summary

Focus on investing in large scale corporate situations

Broad field of careers across marketing, finance, management, etc.

Accounting and finance are the main career paths

Focus on helping individual clients achieve their personal financial goals

Recognition

Focus

UNIVERSITY OF SYDNEY CAREERS & EMPLOYABILITY OFFICE The Careers and Employability Office (CEO) is the University of Sydney’s Business School’s tailored careers service for students seeking advice on careers paths, job applications and general employability.

Location B1 level of Abercrombie Business School Building

Hours Every teaching weekday, 1-4pm for drop in for a chat

Services Drop-in Student careers leaders who can offer you advice on your resumé and the job application process Book a Private Meeting Experienced career consultants who can help you plan your career and make the best of your university experience. Online Resume Reviews (after week 5) Interviews Feedback (throughout the semester) Workshops and Activities Series Mock interviews and mock assessment centres Employer Networking Events

Make sure to keep an eye out on your university email for the CEO Newsletter and event updates to ensure you don’t miss any of these events For first years, look out for events specific to first years and pre-penultimate years in the events calendar, which often outline how to ensure that you are prepared for internship and graduate applications in the future.

IWD 2023 : Macquarie Group Managing Director and CEO Shemara Wikramanayake and the United States Ambassador to Australia, Caroline Kennedy

WOMEN IN FINANCE Very often as a little girl, then as a young woman, I have suffered my lot of discrimination. I was brought up with brothers; I grew up in a boys’ world. You have to elbow your way in. Every day, you have to prove yourself and convince - move forward and challenge yourself. And doubt all the time. It’s a question of not so much pushing the boys out of the picture, but making the whole frame bigger so that both men and women access the labour market, contribute to the economy, generate growth, have jobs, and so on. - Christine Lagarde, Managing Director of the IMF

A Change in Environment Recently, the finance industry has been swept with tides of change, as businesses and financial institutions recognise the importance of gender diversity. Women bring unique skills, and are more likely to possess traits such as empathy, trust-building and listening to others - essential skills in the finance industry. Impressive statistics paint images of progress, with Top 20 ASX boards reach 40% women representation (as of August 2023). Female representation is improving: The latest AICD Gender Diversity Report noted similar findings, with 35.6% of ASX 300 board seats being held by women and 67% of ASX 300 boards having more than 30% female representation. There are now no boards in the ASX 200 without women. Though, many reports begin to put a spotlight on the stubbornly low number of women in csuite executive director roles, highlighting that the change has been in the appointment of women to non-executive director roles.

“don’t let boys have all the fun and miss out on what could be very exciting careers” Macquarie Group CEO Shemara Wikramanayake :,

A Drop in the Ocean The reality is not as rosy, with the finance sea of opportunity still dominated by men. Men are still promoted at materially higher rates, fuelling perceptions of a “glass ceiling” for women. Companies are still reporting poor female retention rates and a drought of talented women with slow progress towards gender parity across the industry.

Turning Ripple into a Splash In Australia and around the world, firms are rising to the occasion, introducing flexible hours, parental leave measures and mentorship schemes to support female employees - with pace picking up post-COVID. The Australian Council of Superannuation Investors has also vowed to vote against the re-election of incumbent directors on all male boards, while advocacy organisations such as Women in Finance and Banking, and Male Champions of Change have committed to the “significant and sustainable increase in the representation of women in leadership."

Making Waves Improving female representation is crucial to broadening cognitive and experiential diversity, widely acknowledged to enhance decision making within firms. Female empowerment in financial services therefore has the potential to make waves in financial services by driving the diversity of thought, which ultimately breeds innovation.

39 SECTION THREE OUR SPONSORS

SPONSORSHIP OVERVIEW PLATINUM SPONSOR

Macquarie Group

AU/NZ Offices Locations: Sydney Melbourne Brisbane Perth Auckland Departments: Banking and Financial Services Commodities and Global Markets Corporate Operations Group Financial Management Group Macquarie Asset Management Macquarie Capital Risk Management Group Technology Key Application Dates: 2024/25 Summer Internship Program Opens: 14 May 2024 Close: 16 July 2024 (Melbourne and Perth); 30 July 2024 (All other locations) 2025 Graduate Program Opens: 27 February 2024 Close: 9 April 2024

Application Process: Application opening and closing dates are listed on our website. Visit https://www.macquarie.com/ au/en/careers/graduatesand-interns.html and apply by submitting your resume, and academic transcripts during these dates.

Asset management and finance, banking, advisory, risk and capital solutions About Us Macquarie is a global financial group providing clients with asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, specialist advisory, capital raising and principal investment. Our size and international presence means your work can take you anywhere—across business groups, disciplines, sectors and borders. With employees and offices in 34 markets around the world, we’re a truly global organisation.

Work Perks

Internship Program

A career at Macquarie means you’ll have the opportunity to develop and utilise new skills, explore interesting fields and do challenging work that will impact the lives of people around the world—whether it’s accelerating the green energy transition, helping sustain global food supplies, financing social housing projects or investing in essential infrastructure. At Macquarie, we’re empowering people to innovate and invest for a better future.

Our Summer Internship Program welcomes penultimate year students from all degree backgrounds for 10-12 weeks of hands-on experience.

Skills Required At Macquarie, we value diversity of thought from people with different backgrounds. Regardless of what you studied, we’re looking for individuals who share our drive for innovation, ideas and excellence.

You’ll get to work on real projects from your first day, develop and utilise new skills, explore interesting fields and do challenging work. Put your learnings to work in a global business, build a professional network and learn from business leaders. Summer Interns are eligible to be fast-tracked for our Graduate Program. Applications open from May-August of each year and penultimate year students are eligible to apply. Our Summer Intern Program commences in November of each year.

Career Progression

Graduate Program

Once you finish the Graduate Program, there are a range of learning and development opportunities available to you. From team development and manager capability training to individual skills development, our learning and development teams design programs to help you develop your knowledge and skills.

Our Graduate Program offers a learning environment designed to create our future leaders. We’re looking for the best minds to help manage, develop, advise, finance and trade.

At Macquarie, you’ll be encouraged to own your career. This means that it’s up to you to choose which direction you want to take – whether that’s taking on a new project; progressing within your division; exploring an opportunity in a different team; or relocating globally – and our learning and development programs can be tailored to help you get there.

You’ll make a genuine impact and, regardless of what you do, you’ll help us build a better future — whether it’s working on projects that accelerate the green energy transition, help sustain global food supplies, finance social housing projects or invest in essential infrastructure. You’ll embark on a structured 12–24-month program where you’ll be supported and mentored by your peers and leaders, as well as through the Graduate Development Program. Applications open from February-March of each year and final year students are eligible to apply. Our Graduate Program commences in February of each year.

SIG Trading Office locations Level 48, Tower One International Towers 100 Barangaroo Avenue Barangaroo, NSW, 2000

Trading Firm About Us SIG is a global quantitative trading firm founded with a growth mindset and an analytical approach to decision making.

Departments Trading Buy Side Research Quant Technology Key Application Dates

As one of the largest proprietary trading firms in the world, SIG benefits the financial markets by providing liquidity and ensuring competitive prices for buyers and sellers. SIG brings together the brightest minds, the best technology, and an expansive library of data to design and implement quantitative trading strategies that make us leaders in the financial markets. Beyond trading, SIG is active in global private equity, institutional brokerage, sports analytics, and structured capital.

Work Perks

Campus roles are open now Application Process 1. Submit your application 2. Online assessment 3. Recruiter interview 4. Technical assessment 5. Office interview 6. Job offer

Career Progression

Competitive salary Fully stocked kitchen, including breakfast and daily catered lunch Casual dress code Authentic social community (basketball team, gaming) 360-degree view of Sydney’s Harbours (it really is Sydney’s best office view) Sustainable & environmentally friendly office

Whether it is in a game theory class, an advanced programming course, a quant lecture, or real-time learning on the trading floor, we teach our employees how to approach decisions under uncertainty. When the SIG founders started our firm, they knew the importance of making education a top priority. To this day, we feel strongly that investing in education and development helps our employees think autonomously and have more impactful careers at SIG.

Skills Required

Internship Programs SIG’s internship program offers a unique opportunity to learn about quantitative trading / buy side research. Our education program combines both classroom and on the desk training, which provides interns with first hand exposure to trading. 2024 Trading Internship 2024 Buy Side Research Internship

Problem Solvers: You enjoy solving puzzles and love it when you discover a solution to a difficult problem. Analytical + Logical: When it comes to decision making, you use clear and sound reasoning. Communicators: You enjoy building relationships with those you work closely with. You enjoy sharing ideas, expressing your thoughts, and listening to the views of others – excellent verbal and written communication skills are a must to work at SIG!

Graduate Programs When you join SIG as a grad, we don’t teach you what to think, we teach you how to think. With our proven best-in-class education program, you’ll get a framework for problem solving in complex environments, hands-on training in game theory and decision science. Our Technology Graduate Program will allow you to work alongside experienced software engineers on the development, delivery, support, and enhancement of our trading systems and infrastructure. With guidance and mentoring from your team, you’ll get hands-on experience beginning on your first day. You’ll play poker and other strategy games to practice making optimal decisions under conditions of uncertainty. 2025 Graduate Trader Program 2025 Buy Side Research Graduate Program 2025 Technology Graduate Program 2024 Graduate Quantitative Strategist – Open to PhD/Master’s Applicants 2024 Graduate Quantitative Researcher – Open to PhD Applicants More on SIG campus programs

Soul Patts Office Locations:

Investment Management and Financial Services

Sydney: Level 14 151 Clarence St Departments: Private Equity Private Credit Large Caps Equities Emerging Companies Finance and Accounting Operations Key Application Dates: Soul Patts does not have set application dates and opens its internship opportunities on an ad hoc basis depending on business needs.

Application Process: 1. Submit application (CV, cover letter, academic transcript) 2. Interviews with team members

About Us Soul Patts is the second oldest company listed on the ASX (ASX:SOL) with a market capitalisation of over $12b. With origins in owning and operating Australian pharmacies, Soul Patts has since evolved into an investment house managing a multi-asset portfolio of uncorrelated assets diversified across a range of industries and asset classes, including listed equities, private equity, credit, and property. Soul Patts is unique in the Australian market, offering our shareholders exposure to a range of investments that perform throughout the cycle, delivering above market returns for decades. We take a long-term, value-driven and disciplined approach to investing, using an unconstrained investment mandate to support our investee companies and deliver for our shareholders over the long term. We are the only company on the ASX that has grown its dividend each year for the past 20 years.

Work Perks An internship with Soul Patts is a unique opportunity to gain work experience in a leading investment firm whilst studying. Our interns work part time during the semester (with the flexibility to accommodate for their university schedules) and work full time during holiday periods. This continuity of experience, compared to a single summer period, allows interns to have significant involvement in our investments and projects, develop meaningful relationships and receive the same level of exposure as a fulltime Analyst. Recognising that our people are our strongest asset, Soul Patts has a strong Employment Value Proposition and invests heavily in the development of our people and in creating a positive work experience and organisational culture. Our recent inaugural employee culture survey delivered some of the highest results in the industry. Soul Patts is experiencing strong growth and is actively deploying capital across asset classes, especially in the private markets. Candidates joining the team now will gain invaluable exposure to market leading deals and contribute to the organisation’s growth trajectory.

Skills Required Motivated and ambitious individuals to support senior deal team with assessing investments Excellent writing, research, analytical and quantitative skills demonstrated by strong academic rigour and other relevant experiences Genuine passion and curiosity for investing and financial markets Strong work ethic and a hunger to learn Strong attention to detail Self-motivated and desire for self-improvement Strong critical thinking skills and ability to think differently Capacity to work during university semester

Soul Patts Investment Management and Financial Services

Office Locations: Sydney: Level 14 151 Clarence St

Career Progression Our internship program has historically been the sole pipeline for our graduate Analysts, with successful interns progressing to a full-time role following completion of their studies. Soul Patts constantly welcomes new investment opportunities wherever they come from. All team members, even Analysts, are encouraged to voice their opinions and take ownership of their ideas. Although Analysts are urged to take control of their own development, Soul Patts takes your professional and personal development seriously and will support you in whatever way you decide to go, whether that is establishing a new strategy, taking on a managerial role or developing a new skillset.

Internship Program

Departments: Private Equity Private Credit Large Caps Equities Emerging Companies Finance and Accounting Operations Key Application Dates: Soul Patts does not have set application dates and opens its internship opportunities on an ad hoc basis depending on business needs.

We aim for our interns to have a fulfilling and well-rounded experience and they are able to:

Application Process: Develop a fundamental investing skillset including financial and valuation analysis and commercial review of investment opportunities Live and breathe the Soul Patts investment philosophy through involvement in a broad range of investment workstreams Gain generalist industry exposure with the opportunity to specialise if desired Receive a high level of responsibility, work in small deal teams on significant projects and produce meaningful work Explore personal and professional passions Enjoy the collaborative and supportive Soul Patts culture

Graduate Program Our Graduate program functions as an extension of the Internship program with Soul Patts assisting interns seamlessly transition into a full-time role.

1. Submit application (CV, cover letter, academic transcript) 2. Interviews with team members

Westpac Financial institution About Us Westpac is Australia’s oldest bank and company, one of four major banking organisations in Australia and one of the largest banks in New Zealand. We provide a broad range of banking and financial services in these markets, including consumer, business and institutional banking and wealth management services. Westpac Group’s portfolio of financial services brands and businesses is focused on our purpose which is Helping Australians and New Zealanders Succeed. It’s what we do, who we are and why we come to work every day. From ensuring individuals can save, transact, and borrow with confidence, to supporting the financial needs of small businesses, multi-national corporates, institutional and government clients, our customers are at the centre of everything we do. Through our unique portfolio of brands comprising Westpac, St. George, Bank of Melbourne, BankSA, BT and RAMS we support and serve over 13.9 million customers.

Westpac Major Divisions Consumer: Serving customers in Australia with a range of banking products under the brands of Westpac, St. George, BankSA, Bank of Melbourne and RAMS. Business: Serving the needs of small to medium businesses and commercial and agribusiness customers across Australia. This division also includes Private Wealth supporting needs of high-net-worth individuals. Westpac Institutional Bank (WIB): Delivering a broad range of financial services to commercial, corporate, institutional and government customers operating in, and with connections to, Australia and New Zealand. Westpac New Zealand: Delivering banking, wealth and insurance services to consumer, business and institutional customers in New Zealand. Group Businesses: Comprising our head office and Australian support functions including treasury, technology, operations, property services, strategy, finance, risk, compliance, legal, human resources and customer and corporate relations. Specialist Businesses: Bringing together the Group’s non-core businesses that we ultimately plan to divest. These include superannuation, wealth platforms and investments, Auto finance, along with our operations in Fiji and Papua New Guinea. The sale of Life Insurance and Auto finance is expected to be completed in 2022.

Westpac Financial institution Office locations: Sydney, Melbourne, Brisbane, Adelaide, Perth, Gold Coast Departments: Brand & Marketing Consumer & Business Corporate & Institutional Banking (CIB) Customer Service & Operations (CSO) Digital, Finance & Accounting Global Transaction Services (GTS) Group Treasury Financial Markets & Treasury Human Resources Property Procurement & Protective Services (PPP), Risk, Transformation, Technology (Rotational) Technology (Specialist Areas). Key Application Dates: Keep up to date with our open and close dates via our website https://www.westpac.com.au/a boutwestpac/careers/pathways/gra d-program/

Work Perks When you join Westpac Group, you’ll be empowered to make a difference, speak your truth and discover what success means to you. We value difference so our people bring their whole selves to work. But best of all you’ll be joining a whole organisation of people who love helping others find their success.

Skills Required We’re looking for uncommon minds who expect to contribute from day one and have an impact. Challenging and rewarding – our programs will get your career off to a flying start. We are looking to fill our Grad and Intern programs with original thinkers and innovators from all degrees of study. We’re looking to fill our programs with original thinkers and innovators from all degrees of study. We embrace diversity, recognising the value people bring to us with their individual differences, qualities, ideas and insights. To apply for our graduate program you must be in your final year of study of a university degree, or you can have completed an undergraduate or postgraduate degree but it must be no more than three years ago. You also need to be an Australian or New Zealand Citizen or an Australian Permanent Resident when you apply.

Internship Program Join our paid 10-week program. It’s a great way to explore a career with Westpac Group, and get a taste of what it’s like to work with us. Designed so that you get a real insight into the diverse opportunities at Westpac Group – the summer intern program gives you what you need to make an informed career decision. The program runs from early December to February for 10 weeks and gives you the opportunity to be considered for the graduate program. You can apply if you’re in the second last (penultimate) year of your degree. You also need to be an Australian or New Zealand Citizen or an Australian Permanent Resident when you apply.

Application Process: Apply via our website https://www.westpac.com.au/a boutwestpac/careers/pathways/gra d-program/ Step 1: Online Application Step 2: Online Assessments Step 3: Video Interview Step 4: Assessment Centre

Graduate Program When you start: You’ll start with us as a permanent employee in February each year. Your program will vary based on the business area where you choose to work. Explore the business area choices above to find out more. Throughout the program: We’ll provide loads of learning and support to help you make the most of the experience. The program is structured to help you identify your focus areas. Tailored training sessions build and strengthen your technical and soft skills - accelerating your personal and professional career development. The day to day: You’ll complete a rotational program to help you to learn about different parts of your business area. It’s packed full of different roles, teams and project experiences. At the end of your program, you’ll be supported to find a role that best suits your capabilities and interests. Expect to contribute from day one and have an impact on the business. Expect plenty of opportunities to get involved in grad life where you can build your networks and friendships with those you work with, including business leaders, project leads and program sponsors. Expect to be able to give back. Join numerous communities, volunteering and sustainability initiatives - rounding out your whole work life experience.

50 SECTION FOUR SUBJECT SELECTION

THE UNIVERSITY OF SYDNEY SUBJECT SELECTION GUIDE At the University of Sydney, the finance major falls under a Bachelor of Commerce degree. After completing the requisite and core 2000 level units, students are allowed to begin studying finance elective subjects. Certain finance electives are geared towards specific financial services. To the right are financial sectors and the electives that will best prepare you for those sectors. Finance is a broad discipline, and its best to try a bit of everything to see what you are interested in. Note, you may choose to do more than 2 electives

Requisites BUSS1020 Quantitative Business Analysis BUSS1040 Microeconomics Core 2000level units: FINC2011 Corporate Finance 1 FINC2012 Corporate Finance 2 Core 3000 level units: FINC3017 Investments & Portfolio Management FINC3600 Finance in Practice

Investment Management FINC3020 Financial Risk Management FINC3021 Finance Theory FINC3024 Personal Finance and Superannuation FINC3301 Applied Portfolio Management A FINC3302 Applied Portfolio Management B

Markets FINC3014 Trading and Dealing FINC3019 Fixed Income Securities FINC3012 Derivatives FINC3023 Behavioural Finance

Commercial Banking BANK3011 Bank Financial Management FINC3011 International Financial Management FINC3025 Real Estate Finance

Investment Banking and Advisory FINC3015 Valuations: Case Study Approach FINC3013 Mergers and Acquisitions FINC3022 Alternative Investments

UNSW SUBJECT SELECTION GUIDE At UNSW, students studying a Bachelor of Commerce degree can opt to major in Finance which consists of 48 units of credit. Meanwhile, a minor in Finance consists of 30 units of credits. There are four compulsory courses and various elective courses focused on various topics including Banking, Corporate Finance, Funds Management and International Finance. These guide explores some of the most popular courses

Compulsory FINS1612 Capital Markets and Institutions provides an overview of the functions of financial institutions and financial markets as well as an understanding about key financial terminology FINS1613 Business Finance Introduction to quantitative areas in finance such as financial mathematics, investment valuations, capital budgeting and costs of capital FINS2624 Portfolio Mgmt Introduction to investment theories and will teach students how to price different assets FINS3616 International Business Finance focuses on adopting a global mindset while managing risk and exploiting exchange rates

Wealth Management

Markets

FINS2643 Wealth Management delves into the investment and financial issues arising from personal wealth management activities

FINS3635 Options, Futures & Risk Mgmt: Overview of derivatives pricing and covers areas of exchange traded options, futures contracts and fundamental pricing principles and hedging techniques in derivative markets

FINS3637 Wealth Management Advice focuses on developing key planning financial and skills required to become a financial planner FINS3640 Investment Management Modeling covers essential analytical and quantiative tools applied in the investment management industry FINS3639 Estate Plan and Asset Protection addresses the importance of estate planning issues when providing financial planning advice and covers key estate planning knowledge and skills. FINS3633 Real Estate Finance covers commercial and residential real estate

Investment Banking & Advisory FINS3625 Applied Corporate Finance builds on FINS1613 and provides a more in-depth understanding of corporate finance FINS3630 Banking Financial Management focuses on the theory of banking from a financial management perspective FINS3623 Venture Capital introduces the characteristics of venture capital and private equity investments

FINS3641 Security Analysis & Evaluation: Primarily focuses on analysing the value of security and evaluating their potential performance FINS3636 Interest Rate Risk Mgmt explores interest rate risk and risk management techniques with an emphasis on problem solving

Financial Technology FIFINS3647 Bitcoin and Decentralised Finance provides students with an introduction to Bitcoin and cryptocurrency FINS3646 Toolkit for Finance FINS3645 Financial Market Data Design and Analysis Both courses deal with implications of technological advances on current and future state of financial industry. It introduces computational finance and banking technology using the open source programming language of python in the context of finance theory and applications

UNIMELB SUBJECT SELECTION GUIDE Basics UniMelb only offers ~8 different degrees so most people (interested in investing/trading) will do BCom, but you could also do the other degrees and take some Commerce breadth subjects. They’re all three years long, four subjects per sem, so 24 subjects total. You can do Honours at the end of your degree as well.

Finance In third year, students must take Investments and Derivative Securities. They also have the choice of one finance elective. General recommendations have been for: Entrepreneurial Finance - really in-depth valuation experience, exposure to CFA Equity Research Challenge. Algorithmic Trading - great for those people inclined towards trading or quantitative analysis. International Finance - learn forex trading, currency options, swaps and international portfolio management. Particularly valuable if you are interested in a career in investment management.

Economics

Bachelor of Commerce Structure

You get to pick all three of your third year subjects now (and there are a lot to pick from).

Commerce has a range of compulsory subjects plus you choose up to two majors (if you’re doing Actuarial you can only do one).

There is no general consensus or strong recommendations in Economics aside from Economics of Financial Markets. For those looking to get into quantitative trading, Econometrics 2 is recommended.

Major options: Actuarial Science, Management, Marketing, Economics, Finance, Accounting. Most people would choose Finance + one other (unless you’re doing Actuarial in which case you can only do that). Accounting/Economics seem similarly popular as second majors (I wouldn’t recommend Management/Marketing to anyone interested in investing/trading). Subjects in the third year are widely considered the most practical, but it is important to lay a strong foundation in your first and second years to excel in your third year subjects. But, for each major you have to do three third year subjects to complete it so you don't get much choice.

MONASH SUBJECT SELECTION GUIDE Basics A finance major at Monash involves 4 compulsory units and 4 elective units: Compulsory units: BFC2140 Corporate Finance 1 Evaluate investment options and value of equity and debt instruments Analyse cost of capital, asset pricing and issues of risk and return BFC2751 Derivatives 1 Discuss derivatives markets Pricing options, futures and other derivatives Implement trading strategies BFC3241 Equities and investment analysis Manage asset classes and returns Analyse and select equities Fund management skills ETC2410 Introductory econometrics Understand regression modelling Understand issues around data modelling

Elective units ACX3150 Financial analysis and valuation Extract information from financial reports Calculation and use of financial ratios Apply different valuation methods BFC2340 Debt markets and fixed income securities Overview of debt markets and different debt instruments Factors affecting bond prices, yields and volatility Apply quantitative skills for pricing and risk management

BTC3200 Finance law Understand legal and regulatory requirements of the banking and finance sector Understand legal rights and obligations of those involved in banking and finance BFC3140 Corporate finance 2 Extension of BFC2140 including equity financing and asset pricing Evaluate investment and financing decisions including risk management Critical evaluation of finance theories, concepts and arguments BFC3170 Management of financial intermediaries Understand various risks to banking and regulation intended to manage these risks Evaluate mathematical models and techniques available to manage risk Distinguish sources of retail and commercial debt BFC3240 International finance Analyse exchange rate systems Examine theories of exchange rate determination Management of foreign exchange rate risk BFC3340 Derivatives 2 Understand concepts underpinning options pricing Analyse interest rate derivatives Quantifying risk and risk management using options BFC3440 Pension and financial planning Overview of financial planning and superannuation Financial planning regulations Understand investment environments

BFC3540 Modelling in finance Development and application of financial spreadsheets Implementation of robust financial models including asset allocation and portfolio analysis BFX3355 Property investment Analyse property valuations and investment characteristics Evaluate property investment vehicles and property management and development BFX3871 International study program in banking and finance Overseas visitation program Compare structure of international banking and finance markets Understand financial techniques used by multinationals ETC3460 Financial econometrics Application of asset pricing models Describe statistical characteristics of financial data

MACQUARIE SUBJECT SELECTION GUIDE Basics A finance structure at Macquarie University involves 8 core level 100 units followed by, 2 level 200 units, and 4 level 300 units.:

Compulsory units 1st year core Commerce subjects: Accounting in Society - ACCG100 Finance 1A - ACST101 Principles of Management - BBA102 Microeconomic Principles - ECON111 Marketing Fundamentals - MKTG101 Business Statistics - STAT150 1st year core Applied Finance subjects: Accounting in Society - ACCG100 Finance 1A - ACST101 Finance 1B - AFIN102 Macroeconomic Principles - ECON110 Microeconomic Principles - ECON111 Business Statistics - STAT150

Core Subjects required for completion of Finance major in standalone Commerce degree: Finance 1A - ACST101 Finance 1B - AFIN102 Financial Modelling - ACST201 Investments - AFIN250 Issues in Corporate Finance - AFIN312 Financial Statement Analysis ACCG350 Applied Portfolio Management - AFIN352 Advanced Corporate Finance - AFIN353 Subjects that best suit sub-industries in finance: Financial analyst: Financial Risk Management - AFIN328 Investment banking: Derivative Instruments - AFIN329, Finance and Financial Reporting - ACST252

STEM Subjects in Finance You’ve probably heard the media condemn the lack of STEM skills in recent graduates, and there’s certainly good reason for it. The hard skills accrued in STEM are demanded by employers, and can be a differentiator when entering intership of graduate applications. Some of the advantages of learning STEM include:

The capacity to code would be helpful for any financial job – for example, you may know VBA and how to automate mundane daily tasks. Furthermore, understanding coding languages such as R & Python may be used by investment managers for analysing data, as these coding languages are more efficient at handling large data-sets. Finance often involves analysing the relationships between variables, such as mining stocks and iron ore prices, or how the US stock market influences Australia’s returns. Studying STEM gives you the skills, beyond basic regressions, to adequately analyse these relationships. Understanding time-series modelling, non- linear modelling and how to handle large data sets leads to insights that individuals with less quantitative skills may miss. While relevant to many financial jobs, understanding probability, calculus & optimisation is needed for many quantitative financial and risk jobs. For example, many hedge-funds will have complicated strategies, such as those focused on arbitrage and volatility that require the knowledge gathered in a maths major. Another example would be of a quant researcher in the sales and trading division who would build a model to assist a trader understand the price or risk associated with a new financial product.

CODING

MATHEMATICAL SKILLS

ANALYTICAL SKILLS

With the rise of big data, STEM skills aren’t only demanded by quant traders and in risk divisions. Knowing STEM skills gives you a framework to derive insights other graduates may miss, or simply not know how to do. Understanding coding languages may allow an investment analyst to more accurately visualise and collect data to derive alpha-generating insights or allow an analyst to sort data in minutes that might take hours.

UNIVERSITY NETWORK FOR INVESTING AND TRADING WWW.UNIT.ORG.AU