Job Responsibilities
Broadening and reinforcing the strength of my existing clientele
base. Remember, networking takes time. To be successfully
established, Asia Pacific-wise, is like having paid one's dues
in a very demanding industry. Sourcing for viable deals and
capitalising on wealth generation is the purpose why The Bank
maintained a securities arm, called the Arab malaysian
Securities, or AMS. AMS could readily tap on the network of
growing businesses demanding financial infrastructure,
management expertise and consultancy services.
Most of the potentially viable companies usually look forward to
listing on the KSLE mainboard after satisfying the Securities
Commissions requirements. The dealing team of which I was apart
of, took, and executed buy sell orders for high-net worth
individuals. We gave technical and fundamental information on
the stocks of our recommendation and worked closely with
Research to track price movements. The equities market is
unpredictable and not for the weak hearted in terms of
investment or trading opportunities. Each hour can be
exhuastive, especially when an emerging market is vunerable to
any movement in interest rates, the Dow and the Nasdaq. Widely
understood, but not spoken of are the opportunities abound for
deal making and deliberated price movements. The Syndication
process is normally carried out by the Lead broker through
many 'houses' within the peninsula. It is also a common
phenomena of emerging markets and mature markets have been
guilty of this practice, otherwise know as 'price manupilation'.
This is why each country's respective watchdogs, in this case,
the Securities Commissions and Bank Negara in Malaysia, form the
backbone of the ethics practised within the industry. At the
end of the day, Dealers are respected, licensed and very well
paid, that is, until the ocurrence of the Asian Finanacial
Crisis in 1997 which caused the collasped of the Indonesian
economies and nearly toppled ASEAN. Singapore escaped relatively
unscathe, with our honest, uncorrupted and transparent financial
system.
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Job Requirements
Abroad based education is important. There are no clear cut
rules. What is clealry required is a mentality for risk-taking
the love for the business, and a mind-set which prevails over
any setbacks. The industry demands high calibre performers, for
those who do succeed, are rewarded hansomely.
What courses to take...Courses in 'hard knocks' Study the fine
arts, basic requirements that will clearly put u ahead:
Accounting, Economics, Statistics, information technology. But
also cover those courses which will let you grow in emotional
quotient. therefore I would include humanities, psychology, the
social sciences, history. Be a all-rounded individual with
integrity and a student in search of many of life skills and
knowledge, so as to SUCEED. For the job is not onnly about
figures. To really excel, people must like you, that, my friend
depends on your persona and emotional intelligence. Clients are
looking for Dealers who are mentally and emotionally in sync
with their ambitions. In this respect, the industry is like all
others: it is about winning people over to your side and wanting
you to service their needs. Can u glean this from
classrooms...u answer me.
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Uppers
The exhilaration of dealing with assets you will never alone realise in your own
lifetime. Working out deals and building a client base through knowing as many
people in the Industry as possible. Dare to take the road less travelled for the
limitations are only in your mind. Seize the opportunities given to you by the
job to identify yourselves with the business and other prominent personalities u
will come to meet. Learn the lifestyle of the truely rich and dine with people
who make our economy runs. Aim to be the best in the Industry and the rewards
are unimaginable. Always practice integrity and good ethics in all deal-making.
And believe in yourself.
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Downers
If you become too consumed with only the rewards, you will stoop
to standards not condoned with the Industry. You will lose your
self-respect, although u might be very, very rich. Live out the
test for the riches will come sooner or later. The real test is
your code of ethics and how to manage greed and fear. (Greed
with the market is Bull and fear when the market pulls back or
crashes.) Everything learnt unfortunately, is by hindsight. So
at the end of the day, the backbone of contention are your
priciples and integrity. Oh, be prepared for jealousy and dirty
politics when you are good at your job. The work is transparent
and individualistic, and it's a dog eat dog industry.
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Lifestyle
You will meet the very opulent, the business personalities who runs the economic
machinery which in turn governs the quality of life in your country. You will
learn banking jargon, mimick the idiocyncrasies of the very wealthy. You might be
allowed on road shows to all parts of say, Peninsula Malaysia, if u get on well
with the Analysts. And of course, your income is handsome, so you will start to
dress 'corporate', travel'corporate, and drive a nice car because a Mercedes
bespeaks your success. if u love what u are doing and you have a skill of doing
business with people after one meeting, then travelling regularly will become
apart of your life. There are no clear cut working hours. Not when you are making
money and climbing the corporate ladder.
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Compensation
A good Dealer Representative makes on the average US$500,000+ a
year in a bull market. And Institutional Dealer with pay can
take home $600,000+ in bonuses in a year. In a bear market, you
may make practically nothing, hoping to keep your job.(this is
written in context to the AFC)
A Private Banker makes about US$200,000 to $US$600,000
(including basic, and all expenses being paid by the company.)
Bonuses may be as high as US$600,000 and above in my country
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Advice to Jobseekers
Clearly the horizon beckons change. The Recession in SE Asia has
rendered many a 'high flyer' grounded. One must continually
reinvent, value-add oneself with continual training. IT has now
created a new Hybrid: Financial Planners. Players in the market
must be multiple trained, mutiple-tasked, and highly
knowledgeable in all investment products,and not just equities.
This would include Unit Trusts, Mutual Funds. Forex and
Insurance. Optimistically, those who are financially astute and
academically outstanding should prepare now for the growth
opportunities in China and eventually India. These trends are
clear to the very experienced, and attempts must be made to
understand the culture and it's people which are both
instrumental in ensuring success in business. Remember, the CFA
is a highly coveted qualification and a complete requsite when
attempting entry into this Industry. The Best (Myrill Lych
Aberdeen Mgt, Goldman Sachs, Yamaichi,Citibank, Union Bank of
Switzerland will look for the brightest and best qualified.
Remember also, The NUS-PKU IMBA was mooted for this very
purpose: to expose our workforce so that we can better
understand our trade and business partners. The economic and
social bond built over this period will stand in good stead for
my country's workforce to compete successfully in every arena,
in an ever-shrinkinking and globalised world.
The Future is bright for the young and astute, for they will
have their opportunities. Remember the Economic Cycle or Law,
dicdates a bull run every 12 to 15 years. As indivduals, we
can catch two even 3 bull runs if we are lucky. The new
generation of hybrids will have IT and people skills. they will
carry with them the memory of the AFC, and the lesson it has
imparted will stand them in good stead when the next bull run
hits in 2007 in Asia Pacific.
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