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Business Chartered Financial Analyst (CFA)

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kinwing
post Oct 31 2011, 11:32 AM

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QUOTE(fino_abama @ Oct 28 2011, 06:10 PM)
Do join the CFA Malaysia page in FB. =)

It's ok whichever institution you join. The most important thing is learning something out of it.
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Hi fino, do you have the FB link to post here? Just lazy to search in FB tongue.gif .
kinwing
post Oct 31 2011, 10:59 PM

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QUOTE(gooni3 @ Oct 31 2011, 09:29 PM)
kinwing u didn't work at all in between 2 years? didn't they ask you what the gap is all about/
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Yes, I stop work at August 2008 and started work again at October 2010. When the interviewers asked why I did not work, I gave them few reasons:

- when I resigned at August 2008, the economy was not doing well so it was not easy to find a job
- since it was not easy to get a job during economic downturn of which I predicted it would last for 1.5 to 2 years, I might just concentrate to full-time study and complete the CFA program in 2-year period
- as I did not have any commitment at that time and I had enough financial resources to well support my study and living without working for few years
- at the same time I was assisting my dad to operate his small banana estate

This post has been edited by kinwing: Oct 31 2011, 11:00 PM
kinwing
post Nov 1 2011, 09:16 AM

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QUOTE(gooni3 @ Oct 31 2011, 11:51 PM)
ahhhh okay

so when did u do IT halfway?
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I had been working in an IT company for almost 3 years before I resigned.

This post has been edited by kinwing: Nov 1 2011, 10:10 AM
kinwing
post Nov 1 2011, 10:49 PM

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QUOTE(gooni3 @ Nov 1 2011, 02:31 PM)
ic but before that is finance right?
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Yah, I worked almost 2 years in a bank before joined the IT firm.
kinwing
post Nov 2 2011, 12:25 PM

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QUOTE(gooni3 @ Nov 2 2011, 12:16 PM)
cheeky u're right in the sense that aim for the stars, if you miss, u might land up on the moon! so always aim for more

kinwing, u're degree is in finance?
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My degree is bachelor of commerce and administration, double major in accounting and finance, and I got a pro cert in Oracle too but get that cert during work one.
kinwing
post Nov 4 2011, 09:17 AM

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QUOTE(Justin Wong @ Nov 4 2011, 01:26 AM)
Which line of IB are you looking into? if you are doing Corporate Finance (IPO, due diligence, restructuring), CFA is not directly relevant (although still highly regarded) and they prefer people with accounting background / BIG4 experience. Plus, you will be required to sit for the CMSL examination because the nature of work is regulated under SC guidelines.

If you are talking about getting into firm such as Goldman Sachs (they have an office in Malaysia), big name private equities (Navis maybe), CFA alone without working experience or any other supporting background (i.e., Ivy league MBAs) is not sufficient to secure an interview. Having said that, local IBs or small fund houses i believe may still open their doors.

There are other options such as consulting firms /  corporate finance consulting arms of BIG4s that offer really good exposures for CFA related job experience. Then again, it can be competitive these days as well.

Then again, 3-4 years down the road, you will find the working life unpalatable because generally it is very fast pace and ppl around you are relatively intelligent and competitive. You really have to really want it to get through the exam as well as the working life. Behind the glamour there are sacrifices sometimes.

Still, CFA is still worth doing it if you enjoy the reading and the knowledge. Even if you do not work in the relevant line, finishing the exam commands a lot respect from people anytime you mention it. Hope that motivates you. Cheers!
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I concur with what Justin said. When people mention about Corporate Finance, most of the case they are referring to the so-called "Execution" teams which carry on paper proposals and submission to the authorities such as the SC, Bursa and Bank Negara. To prevent any misleading or obmission of information being submitted to the authorities, proper due diligence is required, and staffs in CF are expected to equip with audit experience as the nature of work is compliance based. I can conclude to say "Execution" team is tend to be more accounting and auditing oriented.

There is another team in corporate finance is the marketing team or the so-called "Origination" team which job scope is to meet clients, provide corporate advisory and structure transaction deal according to the needs of the clients. For my opinion, this is more challenging as staffs will be required to structure specific of transactions and proposals and a lot of presentation of power point and excel modelling require. Knowledge learn from the CFA and MBA would help a lot in this job scope.

By the way, I think CFA is not well-recognised in Malaysia. I hope 1 day the SC will exempt those who pass CFA level 3 from taking the CMSA module 12, then it could in directly promote the CFA tongue.gif .
kinwing
post Nov 4 2011, 02:11 PM

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QUOTE(Knight_2008 @ Nov 4 2011, 01:22 PM)
lol. somehow, i actually feel the knowledge from level 1 is quite equal to the module 12 already.
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Some topics in module 12 are not covered by CFA level 1, such as valuation, bond management and option strategies.
kinwing
post Nov 4 2011, 05:30 PM

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I believe IRC means intensive revision course
kinwing
post Nov 4 2011, 05:35 PM

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So Noesis offer normal class for RM4,500 and additional RM1,000 for intensive revision course. The name of intensive revision can tell that it is revision (maybe summary) class, so the tutors won't go into detail but instead they will tell you the tactic and which topics are important to bed focused with a short period.
kinwing
post Nov 4 2011, 05:36 PM

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QUOTE(Justin Wong @ Nov 4 2011, 03:18 PM)
It is quite right to say that CFA is not well-recognised yet in Malaysia partly because our market is not sophisticated enough. Most of the clients here are more concerned with tax / accounting issues and regulations when it comes to undertaking a capital market transactions. Most of them are not really comfortable with some of the complex modelling / finance concepts. Only some big funds employ competent people that are able to understand what you propose.

Trading wise, liquidity issues of malaysia stock market is another barrier and the cost of trading in Malaysia is inhibitive as well especially when it comes short-selling. it makes individual traders hard to implement some of the trading strategies, as compared to trading in Singapore where everything seems much more easier.

To put it in another way, in the mean time, there isn't a lot of interesting opportunties for qualified CFAs to fully practice the things they learned. But I wish to say, opportunities are for those who prepared. Asia is the now the hottest market financially and it would certainly mean something eventually for CFAs, since there will always be a regional competition for talents. I just think that our CFA society in Malaysia should do a bit more of advocacy to raise our profile, Maybe we are a bit small in the mean time with only 700+ members.
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My bad, I havent registered to be the CFA member tongue.gif yet .
kinwing
post Nov 4 2011, 05:38 PM

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QUOTE(gooni3 @ Nov 4 2011, 05:35 PM)
IRC = intensive revision course
It is true what you guys said about our market not really needing CFA at the moment, but I really think they should at least regard us as a prestigious group of ppl.
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Who are 'us'? So do you mean already pass all CFA or you are a chartered holder hmm.gif ?
kinwing
post Nov 4 2011, 05:51 PM

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QUOTE(gooni3 @ Nov 4 2011, 05:35 PM)
IRC = intensive revision course

btw, Justin, u've just registered today i see, when u said we, do u mean u're one of the charterholders around?

It is true what you guys said about our market not really needing CFA at the moment, but I really think they should at least regard us as a prestigious group of ppl. It is really a shame that many people do not know about this qualification and also the vigorous curriculum we all go through. People with at least this qualification should at least be regarded as higher than masters and I really do not understand why IB's don't think of this qualification is comparable to some accounting or finance degree background.

IB's would give interview to people who have accounting or finance degree background when they are fresh graduates, while people who want to switch careers like us go thru hell with this curriculum and not given much opportunity? I kinda find this a bit unreasonable. Might as well do another degree in finance right or master in finance? Shorter time.

About big investment banks and hedge funds, when you said relevant experience and MBA, do you mean that they will not take freshies even for entry level jobs? Because prior to obtaining an MBA you will need a significant amount of work experience, ie. Ivy league schools will prolly have an average MBA candidates of age 29. If that is so, it is out of the question at the moment. (still got plenty of time to prepare for that)

Hope that they will at least in the near future, recognize us more when the job market becomes more competitive. Thats why getting it now is better. hahaha

Anyway, what is the CFA for then, if it is not so useful here. It is so difficult to pass and takes 4 years to complete on average? why is everyone taking it then?
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CFA holders do not need to tell everyone how prestigious they are to pass the CFA exams. If the CFA holders are good and perform well in the job, his contribution and effort will be recognised. Action is louder than word. For my case, I am the only one who is expertise in valuation and excel modelling in the department, so I was allocated to work on jobs that involve valuation and subsequently being transferred to strategic planning and structuring department so I can fully use what I have learnt.
kinwing
post Nov 4 2011, 09:23 PM

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QUOTE(gooni3 @ Nov 4 2011, 05:59 PM)
thing is, if we don't even get the chance to interview then how to show actions?
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Why limit yourself in KL? If you cannot find job with the CFA qualification, you can always go to explore in other countries, and the nearest one is Singapore.
kinwing
post Nov 8 2011, 12:14 PM

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QUOTE(siew14 @ Nov 7 2011, 09:06 PM)
i went to mid valley one.. but dont have...  klcc huh?? hmmm....  thanks!

uh nope.. june 2012! haha.. wana start get use the calculator first... hehe.. =D
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You are preparing to fail the coming December exam if you still don't have the prescribed calculator by now laugh.gif .
kinwing
post Nov 8 2011, 12:19 PM

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QUOTE(Materazzi @ Nov 6 2011, 12:43 AM)
how do you get a job in IT? I heard it is very easy to get an IT job in Singapore
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Because the company needed IT staffs with business sense so this was how I got the IT job and I did not work in Singapore.
kinwing
post Nov 8 2011, 12:20 PM

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QUOTE(siew14 @ Nov 7 2011, 05:24 PM)
u serious?? lol.. how much they charge to non katsuri student?? =S
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I dont think Kasturi college will sell financial calculators to outsiders, and they did not sell Kaplan books to outsiders last time.
kinwing
post Nov 9 2011, 10:22 AM

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Work experience required by the CFA Institute

When you apply for CFA membership, you enter your work experience descriptions as part of your application.

Your work experience determines your eligibility for membership and impacts whether you are recommended for affiliate membership or regular membership.


To be recommended for regular membership you must have completed four years (48 months) of qualifying work experience in activities that consist to a majority extent of:

Evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or similar investments, which includes, but is not limited to, publicly traded and privately placed stocks, bonds, and mortgages and their derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these other investment assets are held as part of a diversified, securities-oriented investment portfolio; or

Supervising, directly or indirectly, persons who practice such activities; or

Teaching such activities.

If you have not accrued 48 months of qualifying work experience, you may still apply for membership and will be considered for affiliate membership status.


Entering your work experience as part of your application:

Job titles are not sufficient; you must include specific details about your job responsibilities.

Once you submit your application, you cannot subsequently update the work experience attached to that application.

Subsequent changes to your work experience will only be considered when you withdraw your application and then reapply with the updated information. To withdraw your application: Select "Manage My Membership" from the Account Home page and then select "Begin Withdrawal."


Work experience accrual criteria:

May be accrued while you're in the CFA Program, after you've passed all three exam levels, or in previous positions.

At least 50 percent of your work experience must be: Directly involved in the investment decision-making process
Engaged in responsibilities and/or producing a work product that informs or adds value to that process

Part-time positions do not qualify.

Managing your own investments does not qualify.
kinwing
post Dec 2 2011, 02:25 PM

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Level I exam is coming soon this Sunday, good luck to those who are going to sit for the exam.
kinwing
post Dec 5 2011, 12:07 PM

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QUOTE(aaron1kee @ Dec 4 2011, 09:03 PM)
The paper was okay. But I think I screwed up the ethics!
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If your overall score is 69, I am afraid you will blame yourself for failing ethics tongue.gif .

This post has been edited by kinwing: Dec 5 2011, 12:12 PM
kinwing
post Dec 6 2011, 12:00 AM

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QUOTE(YH90 @ Dec 5 2011, 09:11 PM)
You mean he got all topics above 70% but failed ethics alone and he failed the entire Level 1? Sad case then.

I got a senior who failed his ethics in Level 2 but still got through though. Maybe CFAI don't put much emphasis on ethics on Lv2 and 3's. =/
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I never passed ethics in CFA exams, but I passed all exams. By the way, Level III does not test on ethics topic.

This post has been edited by kinwing: Dec 6 2011, 12:04 AM

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