DEBT

LOAN

U.S. TREASURYDERIVATIVES

MARKETS

$!*

MONEY

EQUITY

RISK ALLOCATION

VALUATION

INVESTMENT BANK

UNCERTAINTY

FUND

AMEN

TALS

TECH

NICA

LSW

EALT

HUS

D

UNIT

GLOB

AL TR

ADE

COM

MOD

ITIES

MON

EY

DEBT

MONEY

RISK ALLOCATIONINVESTMENT BANK

CAREERS

FINANCEIN

MSFT

EQUITY

VALUATION

UNCERTAINTY

UNIT

TRADING

INVESTINGFIXED INCOME

FUND

AMEN

TALS

TECH

NICA

LSW

EALT

HUS

D

AUD RMBBTC

CNY

STOCK BROKER U.S. TREASURY

HEDGE FUND

GOLD FUTURES

LINEARITY DERIVATIVESNEW YORK

EXCHANGE

OPTION MARKETSCOINS

RATES

FUND

AMEN

TALS

TECH

NICA

LSW

EALT

HUS

D

UNIT

UNIT

TRAD

E FLO

WS

GLOB

AL TR

ADE

COM

MOD

ITIES

LONG

SHOR

T

WEA

LTH

WEA

LTH

Contents Table

UNIT Chapters:

| 01

Acknowledgements:Editors in chief: Kevin Lu, Sharon Ho

Authors:Sam PhamAlick SongBoyang JiangTom BarryAnas Ur Rasheed Khan

Special Thanks:Adon EwingRebecca ZhangAndrew Zhang

Software: Adobe Indesign, Adobe Illustrator, Adobe Photoshop

© University Network of Investing & Trading 2018

Disclaimer1. 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).

Section 1 Industry

Section 2 Applications

Section 3 Sponsors

Section 4 State of Finance

UNIT

OverviewInvestment BankingInvestment ManagementGlobal Markets (Sales and Trading)StockbrokingProprietary tradingProfessional ServicesRetail Banking & Fintech

357910111215

Job search tips ResumeCover letterInterviewTest/Assessment CentersNetworkingQualifications

17181920212223

272931333537394143454647

49505152

Citi Commonwealth BankBlackRockNomuraAustralian SuperMacquarie GroupSIGCFA InstituteFlow TradersInvestSMARTPropexAberdeen Standard Investments

TechMiFID IIRise of passive investingWomen in finance

Section 5 Subject Selection Guide55

Overview of the Finance Industry

Careers Map:

| 03

Section 1: The Industry

UNIT UNIT 02 |

Corporate Finance

PortfolioManagement

CommercialLending

Corporate Lending

Risk Management

Mutual FundDealer

Mutual FundDealer

Investment Dealer

Investment Dealer

Investment Dealer

Bank

Bank

Bank

Insurance

Insurance

Operations

Compliance

Trading Research

Institutional Sales

Equity Sales

Fixed IncomeSales

InvestmentBanker

Equity Trader

Fixed IncomeTrader

ResearchAnalyst

ResearchAssociate Portfolio

Manager LendingAnalyst

InvestorRelations

Client Manager

ComplianceOfficer

Market RiskManager

Credit RiskManager

BranchManager

BranchManager

BranchManager

BranchManager

PrivateBanker

FinancialAdvisor

WealthManager

Investment Advisor

Financial Planner

Mutual Fund Rep

InsuranceAgent

BankTeller

InvestmentRep

Clearing &Settlements

StockTransfers

Underwriter

BranchAdmin

Institutional/Corporate

Retail

Institutional(Securities)

Back Office

Transactional

Advisory

ManagementSupervisory

Middle Office

Corporate(Bank)

Financial ServicesCareers

What is finance?

At its core, finance is the practice of allocating monetary resources under conditions of uncertainty (risk).

As a subject or major, finance can be split into three distinct catergories; public finance, personal finance, and corporate finance. This guide will be mainly focusing on career opportunities arising from corporate finance, where you will learn about the financial markets: equity, debt, derivatives, commodities and more.

Corporate finance teaches you how a company makes choices about major investment decisions, how it finances its activities, and how it delivers value to all its shareholders. You will also learn about the international nature of financial flows, how to manage risks, and how to invest and trade yourself.

What are financial services?Financial services refer to the services provided by the financial industry and organisations involved in the management of capital. Such organisations encompass banks, investment banks, insurance companies, credit card companies and stock brokerages. Its clients include individuals, businesses, non-profit organisations, and government agencies. The financial services field offers a broad range of career opportunities which cater to different skills and interests. As such, employers will have different expectations in regards to your personal and professional qualities as they assess your compatibility for the role.

Investment Banking & Corporate Advisory

UNIT | 05UNIT 04 |

Investments banks are the institutions driving the growth of public and private companies. They are the intermediaries which fuel these companies with capital - the monetary means of growth. This is achieved not simply by handing out loans, but by finding investors and facilitating a transaction, whether it be in debt, equity, or another hybrid form. Investment banks are behind all the headline IPOs, billion dollar mergers, and cross-border investment deals - financing companies large and small. In facilitating transactions, these banks are described as being on the sell-side of corporate finance.

Investment bankers generally hold the role of corporate financial advisors. In this capacity, they help their clients raise money in the capital markets, provide various financial advisory services, and facilitate mergers and aquisition activity.

Should a large company want to increase their number of warehouses and is looking to issue bond financing to pay for its expansion, it may seek the help of an investment banker. Or suppose a private company requires more money to grow and decides to raise funds through equity financing, an investment banker could help them find private placements (investors), or go public through an initial public offering (IPO). If a company is looking to purchase a smaller company or merge with a competitor to gain market share, an investment banker can assist in finding such target company and facilitate the transaction. Transactions involving the sales of entire companies can easily be in the millions, making for highly lucrative commissions, and a hugely profitable business.

As an investment banker, you will learn the nuances of selling, whether that be selling a million dollar company, persuading a boss, or enticing a client. Through discipline and hard work, you will develop an acute level of attention to detail, a vast network of business connections, and an adaptable skillset that opens up opportunities for you should you decide to transfer industries or start up your own business. To top that off, investment bankers are compensated handsomely for the hard work they put in.

What they do:

Benefits of working in investment banking:

Overview:

AdviseCompanies

Practical transferable

skillset

Raise Capital for clients

Invaluable Business Network

Facilitate Transactions

AttractiveBonuses

Investment banks can be generally separated into three sectors; front office, middle office, and back office. Each office can be further divided into divisions, and within those departments are specialised teams.

Investment bankers come from a diverse range of academic backgrounds, varying from accounting and finance majors, to mathematics, computer science and physics majors. However, before starting internship or graduate positions, they all generally have a firm understanding of the principles in accounting, risk, markets, financial statement analysis, and financial modeling. Investment bankers also have strong negotiation, communication and presentation skills, which will be further honed during their time in the industry.

Typically, investment banks will be involved in large, complicated financial transactions. If a client is considering a merger, acquisition or sale, the investment bank may provide advice as to how much the company is worth and how to best structure a deal.

Debt Capital MarketsDCM teams provide advice on raising debt for acquisitions, refinancing of existing debt, or restructuring of existing debt. DCM roles are typically more client focused as they work with clients to organise borrowing and access a global pool of investors looking for opportunities. Generally, there is more focus on using different debt sizes, refunding and assumptions.

Equity Capital MarketsECM roles are focused on raising equity through the capital markets. This division may be involved in initial public offerings (IPOs) and public equity deals (PIPE deals). ECM roles will involve research on equity deals (IPOs and follow-on offerings) and compiling this information into pitch-books. ECM teams will also be involved in pricing the issue and putting together the term sheet for the deal which contains information regarding the price range, options and number of shares.

What it takes to be an investment banker:

Anatomy of an investment bank:

Investment Bank

Front Office Middle Office• Risk Managment• Financial Control• Treasury• Strategy• Compliance

• Operations• Technology• Support

Back Office

Research Division

Sales & Trading Division

Investment Banking DivisionPrivate

Public

Public

Mergers & Acquisitions

‘Chinese Wall’ separates corporate-advisory area from the brokering department

| 07UNIT

Investment Management

UNIT 06 |

Investment management refers to the selection, monitoring and allocation of a client’s assets in order to meet specific mandated investment objectives. Investment managers are entrusted with a client’s cash and have a fiduciary duty to invest that cash according to a pre-determined investment philosophy and process. Investable assets may lie in both the public (shares, debt, 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.

The assets in which a fund may invest is tied to the risk and return expectations of clients who themselves 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, identification and assessment of potential investment opportunities. The typical tasks required for this include: analysing financial reports, keeping up to date with macroeconomic news including regulatory and political changes, and meeting with management of companies, their competitors, suppliers and clients.

An investment manager’s performance is often compared to an index benchmark such as the ASX200, and thus any deviations in the constituents and weighting of their portfolio is expected to generate above-benchmark returns (i.e. alpha).

Client interaction becomes especially important during periods of market downturns and underperformance, when risk of fund redemption (withdrawal) is highest.

Working in investment management revolves around evaluating investments for your clients. Hence, it is a job where you will learn valuations, strategy analysis, economic trend identification, and other highly valued skills. Additionally, the role may involve speaking with the companies that are being considered as investments, and other financial professionals to form an opinion. This allows you to build fantastic business relationships for the future. Finally, the compensation you can be potentially offered is very attractive.

What they do:

Benefits of working in investment management:

Overview:

Become anInvestment

Expert

Investment Due Diligence

DevelopHigh-ProfileRelationships

PortfolioManagement

InvestorRelations

High-EarningPotential

Private Equity:

Super/Pension Funds:

Venture Capital:

Hedge Funds:

Given the broad investable universe, no specific degree is required to work within the investment management industry. Instead, analysts are valued for their expertise in a certain field. For example, a person with previous experience in a biotech firm would fit well as an analyst covering the healthcare sector. Nonetheless, some financial and accounting training is required to competently analyse financial statements and value investments. To be successful in the investment management industry, the key personal quality is passion and a keen interest for the financial markets. Those who are passionate often manage their own share accounts and read the financial news daily.

What it takes to be an investment manager:

Sub-sectors:

Unlike hedge funds, private equity (PE) funds invest in the private markets and provide financing to unlisted businesses. The majority of PE funds pursue growth and seek to invest in businesses where there is an opportunity to eventually sell at a higher multiple. 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. This often requires an extensive professional network and well-developed financial analysis ability. 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.

Members may contribute to a super fund when they are saving or earning income prior to retirement, which are paid out once they have retired. The money provided through these super contributions does not sit idly – the fund invests them in a variety of asset classes depending upon the superannuation product you have chosen. A super fund is generally more conservative due to the nature of their client base, opting for diversification across a range of asset classes to offset idiosyncratic risk. A career in a super or pension fund may be ideal for someone who possesses patience, and a rational, long-term outlook. Furthermore, due to the more community oriented nature of such investment, they should also possess a proactive stance towards sustainable and ethical investing.

Hedge funds and other managed funds serve largely the same function of generating 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 mostly only allow participation from a select group of wealthy investors. Therefore, due to such flexibility, a hedge fund career is ideal for someone who is skilled at adapting to emerging, unexpected situations, and at identifying unique investment opportunities. They should also possess higher risk tolerance, and be able to rationalise both the risks and returns of such investments in a flexible, dynamic environment.

Similar to private equity funds, venture capital provides financing to unlisted businesses. However, venture capital tends to focus on start-up and early-stage businesses which they believe have high long-term growth potential. Venture capital generally provides financing in exchange for equity and this allows venture capitalists to have a say in management decisions. Many funds also provide strategic advice, access to existing customer networks and industry expertise in addition to financing.Deal-sourcing 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.

UNIT

Global Markets (Sales & Trading)

| 09UNIT 08 |

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 anything you could imagine in between. ‘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 client focused, and should not to be confused with proprietary trading which focuses on investing the company’s own money.

The sales team effectively works as any other sales team in an organisation – they sell things (in this case financial products). The clients they’re selling to are 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.

Working in global markets gives you the training to understand financial markets and the underlying fundamentals of multiple financial instruments. Additionally, as you’re constantly engaging with top-tier clients, from banks to hedge funds, you’re able to build an exceptional business network. The compensation in global markets is equally attractive.

Evidently, sales and trading requires constant client communication. Clients’ needs change constantly and they require rapid responses to their requests. Being able to multitask effectively and quickly is evidently a vital skill in sales and trading. Mental maths skills are also needed, particularly for the traders.

What they do:

Benefits of working in global markets:

Who would suit sales and trading?

Overview:

WideBreadth of Knowledge

Execute LargeTrade Orders

Top-tierClient

Relations

Develop TradeStrategies

InvestorRelations

WorkLife Balance

On the trading floor:

Cross-cooperation:

Given the client-driven nature of the role, particularly sales, excellent inter-personal communication skills are highly desirable. However, having said that, both sales and trading roles entail significantly different types of work. For a trader, numerical problem-solving skills and an ability to work under pressure are more imperative.

What it takes to be an global markets trader:

Typically, a firm which offers sales and trading will have other divisions that complement this function. Sales and trading is inextricably linked to the work of financial analysts, who design and formulate bespoke financial products catered 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 push that research out to clients in the hope of being mandated to execute their trades.

Unlike the riotous ‘trading pits’ depicted in old 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 with no cubicles, with conference rooms and director’s offices on outskirts of the floor.

On the floor itself, long desks with multiple monitors are sectioned off per person, and grouped according to the fields of trade. Swathes of data will light up the screens as traders keep up to speed with the latest consumer spending numbers, blue chip price swings, and other headline variables.

As a trader, you are multi-tasking all the time, constantly assessing risk, calculating the best timing to execute trades, and keeping up to date with the client’s requests.

Bloomberg is a key financial information service that all banks and traders have access to - it is more or less the portal to all relevant news and public financial data. If you are interested in sales and trading, it is recommended that you get acquainted with navigating its terminals.

To trade, industry experts generally use in house trading platforms to execute their orders. Popular platforms include FlexTrade, Fidessa, and Goldman’s REDIPlus platform.

There are various tradable asset markets, all with their own valuation techniques - equities have their multiples and DCFs, options have binomial and Black Scholes models, and bonds have their yield curves. Learning these valuation techniques would be beneficial to your quest in gaining an internship or graduate position at a sales or trading desk. That said, agency traders generally do not engage with large amounts of valuation activities, but it helps to understand where such pricing figures stem from, and what they may be anchored to.

Stockbroking Proprietary Trading

UNIT | 11UNIT 10 |

Stockbroking 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. Simply put, a stockbroker is an entity or individual that trades (buys and sells stock) on someone else’s behalf and charges a commission for it. Historically, the functions of investment advice and order execution were deemed as inseparable facets of stockbroking, but nowadays ‘discount brokers’, which charge moderate commissions and provide no investment advice, have turned the industry on its head.

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 an 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.

One of the major benefits of working in stockbroking, as compared to many other finance jobs, is that once the stock market closes (around 4pm) your responsibilities wind down, since you’re not able to buy or sell stocks after that time. As such, your work-life balance could be outstanding. You’re also given the opportunity to build a strong client network which, if you’re a social person, can be very fun and rewarding. A client meeting could mean taking them to an exquisite lunch, sporting match, or arts event (and it counts as work!). Additionally, you’re put in a position of advising your clients on how they should invest their money. This is both rewarding and potentially frightening - if you make the wrong call you may lose your clients’ trust. However, if you’re able to give good investment advice you can form long-term client relationships.

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 number have a huge role to play in trading and stockbroking. Therefore, a natural affinity for numbers, percentages and ratios is highly desirable; you can demonstrate your aptitude for numbers by boasting great results in mathematics or undertaking STEM courses at university. Aside from grades, boosting your presentation and soft skills can provide you with an edge over other applicants in this client focused industry.

What they do:

Benefits of working in stockbroking:

Overview:

Market Research

Work-lifeBalance

Client Requests

ClientEngagement

ExecutingTrades

EngagingWork

What it takes to be a stockbroker:

Proprietary trading can be best viewed as an additional or peripheral function in an organisation. What it entails is simply utilising a portion of the company’s 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.

What they do: Overview:

Proprietary traders enjoy a lot of freedom. You have the freedom to choose the securities you trade, the decisions you make, and ultimately how you want each day to go. Since you are trading with the firm’s capital, the potential profits and compensation you can receive are significantly higher. With such flexibility, and no clients but yourself, some proprietary trading firms offer the possibility of trading from home - or on the fly. Proprietary trading firms generally provide extensive training for their graduates, nurturing a highly specialised skillset for which these graduates can use to independently earn an income (though it may not be as much because of lesser starting capital).

Benefits of working in proprietary trading:

FormulateTrade Ideas

Implement & Monitor Trading

Algorithms

ExecutingTrades

The type of skills you will need depend on the type of proprietary trading firm. Quantitative proprietary trading firms will usually require extensive mathematical, statistical, or computer science knowledge over a finance background. However, 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.

What it takes to be a proprietary trader:

Independence Highly Flexible

WorkLife Balance

UNIT 12 | UNIT | 13

Professional ServicesDivisions:

Professional services encompasses 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 and not-for-profit organisations and the assistance professional services firms provide include things such as tax advice, accounting services, restructuring advice and strategy consulting. By providing this expert knowledge, clients are able to carry on with the everyday running of their organisations.

A typical professional services firm will operate in four main spaces: Auditing/Assurance, Tax, Consulting/Advisory and Transactions/Corporate Finance and the work you do will differ depending on your chosen business line. Despite these differences, much of the work will be project-style and client-based rather than performing a set daily routine.

What they do:

Benefits of working in professional services:

Who would suit professional services?

Overview:

DiverseTransferable

Skillset

Audit ClientAccounts

Top-tierClient

Relations

DevelopBusiness Strategies

Advise Companies

Strong NetworkBase

Professional services firstly offers a diverse working experience; every situation differs in some way from the last, and provides an exciting opportunity for existing skills to be applied in a different manner. Just as the work itself does not become repetitive, the people working with you will be diverse in both experience and personality. Finally, as you work on each ‘project’, you will be constantly liaising with the client, developing fruitful relationships which may prove invaluable in the future.

Professional services would be an ideal field for someone interested in applying their skills and challenging themselves within a variety of different situations. Adaptability and confidence is thus required. Teamwork is similarly vital; projects require input from people working in various fields, and someone who is able to consider, synthesise and subsequently apply the talent available in their team will prove invaluable to professional services.

Auditing/Assurance:

Tax:

A successful career in professional services requires the following personality traits:Business acumen: Being aware of changes in the commercial world and understanding how businesses operate and adapt is key to advising clients competently.Teamwork: The project-based nature of work will require you to work closely with colleagues from diverse backgrounds and this also requires having high emotional intelligence, patience and empathy.Communication: Client communication lies at the core of professional services - whether that be recommending a new tax strategy or a divestment, working in this industry requires you to communicate often complex issues succinctly and confidently.

What it takes to work in professional services:

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.

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

Advisory/consulting offers the most varied work experience and you can expect to spend time researching current regulatory developments, constructing financial models, reviewing client business practices and contributing to strategy recommendations.

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 prepare due diligence presentation materials.

Transaction/Corporate Finance:

Advisory/Consulting:

UNIT | 15

Retail Banking Fintech

UNIT 14 |

Currently one of the hottest sectors, fintech encompasses a broad range of businesses and roles. But 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. Despite its association with startups, there are plenty of established organisations engaged in fintech, notably the big banks. Nonetheless investment in financial technology has grown at an exponential rate, providing numerous career opportunities.

Given the diverse range of objectives of different fintech companies, there is naturally a wide range of career possibilities.

Nonetheless, the demand is strongest for IT staff including 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. However, UX/UI roles are also being increasingly coveted as banks and fintech companies seek to make their applications user-friendly and intuitive. This may involve simplifying the design interface, increasing the functionality and the overall ‘look’ of the app.

However, for the less technology-focused individuals, a more suitable role may be the product manager. Their responsibility is to communicate with and understand the needs of the client and subsequently develop an innovative solution. This ensures that the product remains disruptive and continually responds to the market’s desires. Like product managers in other industries, they work with various departments throughout the entire product life cycle to conceptualise the product and bring it to market. However, there is a particular focus on regulatory compliance and security in the fintech industry which product managers may also be responsible for.

Given the scope of fintech is constantly being redefined by new systems and tech, the desired skillset for a career in fintech is quite different to that seen in ‘traditional’ financial services. Fintech hires generally have ‘dynamic range’ - that is they have a breadth of knowledge skills that range from finance and, media, to software and hardware expertise. However ultimately, the thread that ties all potential hires together is a shared vision for financial innovation, and passion for growth.

What they look for in hires: What they do:

Fintech Ecosystem:

Overview:

Payments& Remittances

Blockchain& Bitcoin

Robo-Advisors& PersonalFinance

Insurancetech

Digital Banks

Regulation tech

Real EstateSolutions

AlternativeFinance

Retail banking, or consumer banking, refers to the mass-market banking in which individual customers 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.

As a one-stop shop for all retail financial services, retail banks have a diverse range of services for which employees can specialize in, and transfer between. The main roles of a retail banker are generally managing client relations, advising on personal finances, and assessing loan grants to individuals or small businesses. Thanks to the systems and processes in place, the work is relatively straight forward, meaning there is more client face-time.

Working in retail banks gives you the training to develop client relations and become an expert at personal finance. Given the amount of services provided by retail banks, internal mobility across departments may provide you with a diverse range of work experience, and the opportunity to foster an invaluable skillset.

What they do:

Benefits of working in retail banking:

Who would suit retail banking?

Overview:

Structuredwork-life balance

Advise on personal finances

Diversework

experience

Assess debt/credit profiles

Developfinancing plans

Career Opportunities

Retail banking is ideal for someone with strong communication skills due to the large amount of client face-time required within the role. Similarly, high emotional intelligence and a problem-solving mentality are also necessary to understanding each client’s individual needs, and devising a solution. Furthermore, as a result of the high transferability of skills within retail banking, a career here would be ideal for someone seeking broad experience prior to, or instead of, a specialised role.

Section 2: The Application

Job Search Tips

UNIT | 17UNIT 16 |

First, develop a system, 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 a week to research employers and setting attainable, quantifiable goals e.g. number of job applications/coffee chats/interviews a week.

A commonly touted, yet undeniably valuable piece of advice is that you should go beyond just advertised jobs in your search.

Like in any venture in finance, diversification is key and this means you should try your hand at cold-emailing, reaching out to contacts and university alumni in the industry and leveraging university careers centres and job boards. It should be noted that when sending out emails to organisations you are interested in meeting with, make sure to conduct background research and tailor your communication.

It is ill-advised to adopt a ‘machine-gun’ approach as your emails will lack passion and interest.

Knowing yourself is key to communicating with prospective employers and this means being able to identify your:

• Goals• Strengths• Weaknesses• Communication style• Key experiences

Ultimately you want to be able to confidently sell yourself as a potential employee and clearly articulate what sets you apart from everyone else. The best way to do this is develop a succinct, interesting and memorable ‘Elevator Pitch’.

Despite popular belief, having a Linkedin itself is not enough! Rather, you should consider your profile from a prospective employer’s perspective and use your social media presence as a selling point.

This means showcasing your projects like case competitions, blog articles and university society events, as well as following and liking posts from prominent organisations in your target industry.

Remain persistent

Tap into a range of avenues Be self-aware

Get organised Active Linkedin presence:

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 discouraging results.

Some ways to maintain your focus include engaging in opportunities like case competitions, university societies, community service and sport. Although may not directly relate to your desired career path, they still provide an avenue to enhance your employability.

Cover letter tipsResume tips

UNIT | 19UNIT 18 |

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 it also gives your application a tinge of authencity and some 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 your relevant experience to the role:

This is probably the most cliché tip you’re ever going to get, but it 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 having those past experiences 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. So keep 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.

Professionalism Brevity

Clarity SpecificityFormat

Avoid using unprofessional sounding personal email addresses

Be professional and discreet

Avoid using your current work email address or phone number

Avoid cluttered and complicated layouts and tables

Remove clutter and work experiences unrelated to the role you want to pursue now. Give more space to detail about your current or recent jobs and less about the past.

Keep it under two pages

Make sure you include specific skills that are relevant to the job you’re applying for, even if that means adjusting your resume

Focus on what you did in the job, NOT what your job was

Avoid using the generic descriptions of the jobs you originally applied for or held

Quantify your accomplishments

Cater your resume to the industry

Use simple text in one modern, standard font that is easy to read, and that everyone can understand.

As everything in your resume is about your experiences, avoid writing in first or third person.

Avoid using unecessary jargon and verbosity

Use a logical format and wide margins, clean type and clear headings

Selectively apply bold and italic typeface that help guide the reader’s eye

Use bullets to call attention to important points (i.e. accomplishments)

Tests / Assessment CentersInterview tips

UNIT | 21UNIT 20 |

1. Do your research

2. Be marketable

First impressions count.

3. Strike a balance

4. It’s ok to be nervous

5. Take your time

6. Smile and laugh

7. Stay engaged

Firstly, making it to the assessment center is a huge achievement so congratulations! You have made it through resume screening, numerous psychometric tests and phone or video interviews to be invited to the assessment center. You’ve arguably made it through the hardest part of recruiting where you’re evaluated as another set of skills and numbers on a page. 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.

Congratulations!

Preparation

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:

Company and role research

Interviewpreparation

Industryand technicalknowledge

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 to 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!An assessment center will of course involve interviews. Most assessment centers will involve more than one interview which are not always strictly one-on-one. To prepare, you should practise speaking and responding to certain behavioural questions (although try not to memorise any answers). 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.

What you will actually be doing:

Every assessment center is different, however, most will combine a few key ingredients. To start with, you’ll likely receive some background presentations from the company and an overview of how the day will run. Keep in mind that you will be joined by 10-30 other candidates on the day so most activities will revolve around group activities. These may be: case studies, role plays, and problem solving games. In addition, you may have some solo activities, including tests (yes, written exams at a job interview!), interviews, and brainteasers.

Final advice:Be yourself: It sounds cheesy and unhelpful but there’s no need to pretend to be anyone else - just be your natural self.Be friendly: Try your best to get along with the other candidates and employees - they want to know whether they can spend long hours with you.

Don’t sabotage anyone: While the other candidates are technically competition, putting them down only makes you look bad.Enjoy it! You’ve made it this far so if nothing else, take the opportunity to meet new people, get a first hand look into the company, and eat some delicious food.

As an integral part of any job application process, you are bound to encounter an interview situation at some point or other in your career. Alongside assessment centres, interviews provide the employer with an evaluation of your communication skills, and an opportunity to delve deeper into what you have written on your resume. Below are a few tips as to how you can maximise your chances within an interview situation.

Perhaps one of the most important tips for interviews: make sure you know the nature of the company and what you are signing up for! For certain interviews, a degree of technical knowledge will be required. 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 should be hiring you. Do you think you have great communication skills and the ability to perform in team situations? Make that obvious by providing 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, 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 ensure you maintain eye contact throughout (though excessive eye contact can come off as a little strange!).

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 aura of 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 humor, 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 flip the interview – that is, 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.

UNIT | 23

QualificationsNetworking

UNIT 22 |

Though diverse, the industry of finance has its own culture, norms, and formalities that are important for you to acknowledge and respect if you wish explore its opportunities down the road. Simple things like understanding lingo and practicing etiquette may take you a long way.

Clean, well-fitted clothing, and a hygenic presentation signals discipline and professionalism. It’s easier to trust a smile, suit and tie, than a dead pan hoodie and a pair of shorts. It may take some extra time and money, but you’ll be better off for the investment. Long lesson short, be easy on the eyes.

Directors and executives may be immortals in your eyes, but they are humans. Being natural can be a fluid concept, but to break it down in this context, it means to remain calm and composed. A simple, ‘How are you going’ is all it takes to start a conversation, then let your curiousity drive it. Nervousness comes from focusing too much on yourself, so placing all your focus on the other person can get you out of your head, and out of your own way.

Be humble, let them figure out what makes you brilliant rather than spewing your fiercely digested facts about recent market conditions. If you are truly interested about 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.

If 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. If someone does meet with you for coffee, make sure to send them a thank you email afterwards (or it might be the last time they do meet with you).

When in Rome, do as the Romans do:

Dress code:

Quick fix to nervousness:

Engage, manners maketh man:

Follow up:

CFAProcess:

Process: Benefits:

Benefits:Advanced Knowledge: The Program’s curriculum covers a wide range of financial theory and skills such as valuation of equity, fixed-income and derivative instruments, financial report analysis and ethical standards which are applicable at all stages of your career as well as in your personal finance management.

Employer Recognition: Given the notorious difficulty of the CFA exams and with employment in the financial industry becoming increasingly competitive, becoming a Charterholder provides an opportunity to gain credibility amongst peers, employers and clients.

Global Network: Becoming a Charterholder means joining an international community and a network of over 135,000 global charterholders with whom you can develop relationships, find mentors and discover career opportunities.

Career Paths: The majority of CFA Charterholders enter the investing community, becoming either research analysts or portfolio managers. However, the breadth of knowledge acquired upon completion of the Program opens up a vast range of career opportunities including financial adviser, consultant, corporate finance analyst, risk manager and chief-level executive.

The Chartered Financial Analysts Program is a 3-staged education curriculum which incorporates investment and portfolio management theory, ethical and professional standards. The knowledge acquired differs at each level, with the completion of all three tiers resulting in the award of the CFA Charter.

Topic Focus:Level I

Investment Tools

AssetValuation

PortfolioManagement

Level II Level III

To earn the full Charter, you must first become a CFA candidate and enrol in the program. To be eligible for candidacy you must:

• Have a bachelor’s degree or be in the final year of a bachelor’s degree or have four years of professional work experience or have a combination of professional work and university experience that totals at least four years

• Be prepared to take the exam in English • Have a valid international passport• Meet the professional conduct admission criteria

Secondly, you must pass all three exams (Level I, Level II and Level III) which generally take place in June and December. This stage is the most arduous, with candidates spending an average 320 hours studying per exam and historically the pass rate is 40-55%.

And thirdly, 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.

Enrolment entails a one-off fee of US$450 and exam registration also entails a fee of US$650-US$1380 per attempt depending on lateness of registration. This exam fee covers the costs of curriculum materials and mock exams.

Deep technical skill set: The rigorous academic training, coupled with extensive practical experience means that upon completion of the CA Program, you will be equipped with a skillset that will be highly valued and demanded by employers.

Global Mobility: The Chartered Accountant Organisation is a Global Accounting Alliance-recognised professional body and so you can be assured that a CA designation will be highly regarded in whatever location your career takes you.

Expansive Network: As a Chartered Accountant, you join a 117,000-strong association through which you can stay aware of new industry insights, and develop relationships with industry leaders.

First, enrol. This requires satisfaction of the following eligibility requirements:

• A Chartered Accountants ANZ accredited degree which covers the prerequisite subjects or a non-accredited degree which has been assessed to be equivalent to at least an AU or NZ Bachelor degree. If you have not completed the prerequisite subjects, the CA Foundations program provides bridging courses

Second, you must pass all four technical learning modules and the fifth capstone module. Modules can be carried out online and there are three studying terms per year.

Third, and last requirement is three years of accounting employment with an Approved/Recognised Employer, totalling at least 17.5 hrs per week for 3 months or longer and under the guidance of a recognised mentor.

The Chartered Accountant Program is overseen by Chartered Accountants ANZ and is a five-module course encompassing taxation, audit and assurance, financial reporting, management accounting capped with three years of mentored practical experience. Upon completion candidates are awarded with the Graduate Diploma of Chartered Accounting and become full CA members.

CA

Sponsorship Overview Page

Platinum Sponsor: Gold Sponsor:

General Sponsors:

N.B. These sponsors are not representative of all UNIT’s sponsors, they are only representative of those in this guide.

Section 3: Our Sponsors

UNIT | 25UNIT 24 |

Last year, we helped more than 200 millioncustomers all over the world make their ownkind of progress.

What progress will you make?

We will give you access to valuable intelligence, decades of experience, and a wealth of perspectiveson the future of the financial industry. So whether you will be advising on million-dollar mergers,scrutinizing banking practices, or opening a child’s very first account, you can make an impact andhelp make the right decisions at the right time. And it’s these decisions that help us all make progress– for our clients, for every employee, and for the business.

Download the Citi on Campus app on the iTunes or Google Play store.

/citicareers /citicareers /citi /citi /citicareers

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CitiGlobal Bank

About us:

Citi is more than a global financial services company. It’s an engine for enabling economic growth and progress. This is a place where the best come to get better. We’ve built a world-famous, trusted brand over 200 years across corporate, investment, private, commercial and consumer banking.

Join us and you’ll have the chance to get involved in progress in all its shapes and forms, right across the world. From the micro to the macro, from New Zealand to China, the work we do has a realpositive impact.

Work perks:

At Citi, our people provide top-tier training for our graduates and interns. ensuring they have a strong foundation on which they establish their career. Our collegiate culture, global network, and international office locations leaves open endless opportunities to explore unique career paths. Working with us means exposure to high-profile business connections, multi-million dollar transaction deals and above all else, it means making a difference and driving progress.

What it takes:

Our people at Citi are wholly committed to achieving the best possible outcome for out clients regardless of how challenging the task may be. Passion is the delineating thread connecting all Citi associates and partners. Generally, this passion is directed towards financial markets and how it can be used to create optimal results for our clients. Our analysts and associates are enthusiastic, pro-active, team players with outstanding academic track records.

Career progression:

Our career progression is accommodating and dynamic. Graduate and intern positions are open across all operating divisions including: global consumer banking, investment banking, markets and security services, treasury and trade solutions. Rotational programs offer global mobility, and opportunities to build expertise across various verticals are always open for your grasp.

Summer internship programs:

• Citi’s culture and values drive how we run our internship program – we don’t over hire interns and have a full-time spot for every deserving summer analyst.

• Focus on full-time success and teamwork. Competitive, but not cut-throat.

• Over 600 Summer Analysts across over 20 programs globally

• 10-week paid internship

• One-week of robust training to include technical and soft-skills training

• Senior exposure, mentorship, Lunch & Learns, Formal and Informal Networking Opportunities

• Rotations and Placements determined /by each line of business

Graduate analyst program:

Our Analysts are bright, accomplished and highly motivated people with outstanding communication skills and a true passion for business. If you are in your last year of undergraduate or Master ’s degree study, consider our Full-Time Analyst Program. Thecombination of in-depth training, mentorshipopportunities, and interaction with clients and senior management will help launch you on your career path as an Analyst.

UNIT | 27UNIT 26 |

Offices:

Citigroup Centre, 2 Park Street, Sydney NSW 2000

120 Collins Street, Melbourne, VIC 3000

Departments:

Markets & Securities ServicesConsumer BankingTreasury & Trade SolutionsCapital Markets OriginationEquity ResearchCorporate & Investment Banking

Key Application Dates:

Summer internship program:

Sydney deadline: 12:00 noon 31 July 2018

Melbourne deadline:12:00 noon 17 July 2018

UNIT | 27

Commonwealth BankRetail Bank

About us:

We are Australia’s leading provider of integrated financial services and one of the most recognised brands in the Australian financial industry. Being such a large and diverse organisation, we have a vast range of pathways for you to choose from, no matter what your degree discipline!

Work perks:

Participate in market-leading training to develop your technical and soft skills. This will help with the transition to full-time work from university and ensure you excel in your immediate and future roles.A very flexible, inclusive and collaborative environment.Join as part of a large cohort with lots of support and social opportunities

Skills required:

CommBank is looking for Graduates and Summer Interns from a wide range of disciplines who are passionate about developing their skills, taking hold of opportunities and meeting the needs of our customers. We are looking for people that can encompass our values and vision.

Career progression:

Our Graduate Program is a challenging and rewarding way to kick-start a long-term career with us. You’ll start with us in February, but the length of your Program varies based on which business area you choose. You have lots of flexibility in your rotations to drive your own career pathway and we’ll off the support to help you get there.

Graduate program:

You’ll begin your CommBank career with an orientation conference in Sydney then spend time settling into your business area and meeting the business leaders and sponsors who’ll support you throughout your program. Throughout your program we provide loads of support to help you to maximize your experience and provide you with tailored development sessions.

Internship Program:

Our 10-week full time program gives you an intensive hands-on experience in a business area of interest to you. You will be an integral member of the team with the opportunity to be involved in a wide range of projects and deliverables. This will give you a taste of what it’s like to work with Australia’s best bank. You’ll be given full support and training to help you decide if CommBank is the right fit for you.

How to best prepare for the role:

Do your research to really understand the type of opportunities on offer across our different business areas and apply for the one what excites you most! We provide all training and support, so we don’t expect you to undertake any specific pre-work, but encourage you to stay up to date with what’s happening in the industry and business.

UNIT 28 | UNIT | 29

Offices:

Tower 1, 201 Sussex St, Sydney NSW 2000

Departments:

Institutional BankingEnterprise Services (Tech)Retail BankingPrivate BankingRisk Management

Key Application Dates:

Graduate OpportunitiesApplications open: 21/02/18Applications close: 25/03/18

Internship OpportunitiesApplications open: Mid-yearExact dates TBA

Application Process:

All applications to be submitted via our careers site: https://www.commbank.com.au/about-us/careers/graduate-recruitment-program.html

Our process will include a short series of online assessments, digital interview and attending an assessment centre in our Sydney office.

BlackRockGlobal Investment Firm

About us:BlackRock was founded by eight entrepreneurs who wanted to start a very different company. One that combined the best of a financial leader and a technology pioneer. Today, BlackRock is a global investment firm, trusted to manage more assets than any other. Our clients are companies, governments, foundations, and millions of individuals saving for retirement, their children’s educations, and a better life. BlackRock is passionate about providing products and services that can help them build a strong financial future. BlackRock employees from around the globe are students of the market and students of technology, respectfully anti-bureaucratic, and innovative at the core.

Work perks:BlackRock rewards you for your contributions and gives you opportunities to share in the firm’s growth and success.

BlackRock’s Pay for Performance philosophy connects individual, business and company results to employee compensation, which inludes a base salary plus a discretionary annual bonus.

We’re also focused on helping employees manage their work and personal lives more easily. We’ve recently enhanced our time off policies globally and we now provide all employees with Flexible Time Off (FTO) giving people the flexibility to take as much paid time off as they need (with manager approval), while still fulfilling their work responsibilities and ensuring teammates cover for one another while they’re away.

What it takes:Our people are passionate about what they do and focused on performing at the highest levels. They are dedicated to putting the needs of clients first and to bringing new and innovative approaches to their work. They challenge themselves and others, and insist on the highest ethical standards.

Career progression:At BlackRock, you can have the career you want - challenging, rewarding and evolving. Whatever your interests, there is a place for you to grow here - across businesses, backgrounds and borders.

Graduate program:The graduate program is a two year journey designed to develop recent university graduates. Analysts begin their BlackRock careers on a two week orientation in New York City, followed by ongoing training and professional development in our Sydney and other BlackRock APAC offices throughout the program.

We have two programs available to Australian graduates:

• Our Sydney program consists of four, six month rotations to gain a comprehensive understanding of all areas in the Australian business.

• Our Aladdin Client Services (ACS) program. This program would be based out of Singapore, Tokyo or Sydney for two years in our ACS business. Our ACS team tackles the hardest, most sophisticated problems in FinTech. We utilize our in-depth understanding of Aladdin, our clients’ businesses, and the investment management process to provide world-class customer service to our rapidly-growing, global client base. We all studied different things and bring unique skills and experiences to the table, but we all share a serious passion for solving tough problems and keeping our clients happy. If the program is overseas, at the conclusion you would have the opportunity to return to Sydney to work in the Australian business.

Further information on our internship program will be released to all UNIT members later in 2018. The internships will take place in June/July 2018.

How to prepare for the role:We would recommend all candidates read the following Harvard Business Review articles on BlackRock

• BlackRock: Diversity as a Driver for Success• Building a Game-Changing Talent Strategy• BlackRock Solutions• BlackRock: Integrating BGI• BlackRock: Acquire MLIM?

UNIT 30 |

Challenging, rewarding

and evolving.

The career you want.

Join us online:

twitter.com/blackrock linkedin.com/company/blackrockcareers.blackrock.com

©2017 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners.

61391 Grad Australia - Top 100 Ad_v1.indd 1 11/23/17 4:20 PM

UNIT | 31

Offices:

We have 70 offices in 30 locations worldwide. For more information, please visit https://www.blackrock.com/

Departments:

Advisory and client services InvestmentsRelationship management and salesTechnology

Key Application Dates:

Applications open: Friday 2 March 2018Applications close: Tuesday 3 April 2018

Application Process:

Please submit your application via our website: https://careers.blackrock.com/campusrecruitment

NomuraOffices:

Local: Sydney, AustraliaGlobal: Hong Kong & Singapore

Departments:

Global Markets Fixed Income- Sales & Trading- Investment Banking

Key Application Dates:

Graduate Opportunities:- Applications open: March- Applications close: 12pm 10th April 2018

Internship Opportunities:- Applications open: May- Applications close: 12pm 31st July 2018

Application Process:

To find out more and apply, visit our website; www.nomura.com/asia/careers/

To be eligible for either Australian program, you must be an Australian citizen or permanent resident.

Investment Bank

About us:

Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, Wholesale (Global Markets and Investment Banking), and Merchant Banking. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership

Work perks:

Working for our Australia office gives you the best of both worlds – global business exposure with the opportunity to work on both domestic and cross border transactions. Our flat organisational structure gives you high personal visibility and exposure to senior management. You get to work with highly experienced and supportive teams. You are given hands on experience from the get go and have the platform to assume significant responsibility early in one’s career. You have the opportunity to make a difference and drive change.

What it takes:

Our goal is to attract and develop exceptionally talented people who share our passion for individual excellence and our commitment to teamwork. You are an enthusiastic, self-starter, who is proactive, curious about financial markets and have a strong desire to work in the investment banking industry.Whilst your degree subject doesn’t matter, you must be numerate, have strong quantitative skills with an excellent academic track record. Challenging hours and demanding assignments are a constant reality in the investment banking field so we recruit graduates who will be able to withstand the rigours of a rapidly changing, demanding but ultimately rewarding environment.

Career progression:

Successfully completing a Summer Internship will see you return as a full time Graduate Analyst. At Nomura we take your career seriously and we are committed to helping you develop your personal and professional skills. We have past graduates advancing to Vice President and beyond, as well as been given global opportunities to work with our New York, Hong Kong, Japan and London offices. You truly can establish a long term career with Nomura.

Graduate program:

As a full time Graduate Analyst, you will receive all the dedicated training and support you will need

to have a successful career. You will have access to division-specific educational sessions specifically designed to aid your professional development. The program will also include 4 – 6 weeks of global training at one of our Regional Headquarters in your first year.

Graduates joining the Global Markets team will have the opportunity to train with both the Trading and Sales desks. Graduates joining the Investment Banking team will start as a generalist, giving you the opportunity to work with all the sector teams (Natural Resources, Financial Institution Groups, General Sponsors, Retail & Healthcare, Debt Capital Markets & Leveraged Finance team).

Internship program:

An internship with Nomura is your opportunity to see just what you could be part of. We aim to give our interns the same level of exposure as a first-year Analyst which means you’ll work as a full member of the team, participating in team meetings, potentially meeting clients, forming effective working relationships and showing a real commitment to our goals and values. You will start with an initial orientation and training program to equip you with the fundamental skills and toolkit needed to succeed. During the course of your internship you can expect to work closely with a buddy who will show you the ropes of the business. This coupled with continual on-the-job training, regular senior business presentations, social and networking opportunities, will allow you to get a feel for our culture. Internships are the perfect preparation for a subsequent full time role and we will extend full time offers to strong performers to return as a Graduate Analyst the following year.

General tips:

1. Take the initiative to reach out to the Campus Recruitment team campusrecruitingaej@nomura.com . It’s never too early to start discussing your career aspirations and we are always interested in meeting students. 2. Attend the UNIT Networking Events & Introduce yourself to our Business Reps. Early networking can set you apart from the other applicants.3. Attend our onsite events. You will have the chance to meet the team and learn more about the company.4. Before applying for a role, research our company. Learn about our company http://www.nomura.com/ and our insights http://www.nomuraconnects.com/ 5. Tailor your cover letter to Nomura. Be original.

UNIT 32 | UNIT | 33

Australian Super

Offices:

50 Lonsdale StreetMelbourne, Vic 3000

Departments:

Investment teams include:EquitiesInfrastructurePropertyCreditFixed Income & CurrencyESGAsset AllocationResearch & Portfolio Construction

Key Application Dates:

Applications open: 01/05/18Applications close: 27/07/18

Superannuation and Pension Fund

About us:

AustralianSuper is different to other financial institutions. Our sole purpose is to better the retirement outcomes of over 2.1. million Australians who are our members. We are committed to recruiting and developing a diverse workforce that share our values of Energy, Integrity, Generosity of Spirit and Excellent Outcomes.

Work perks:

Being the largest Superannuation Fund in Australia gives those working in our investment team opportunities to be involved in projects and deals not available elsewhere in the market. Whether it’s the largest infrastructure deal in Australia, the in-house domestic or global equities team or working on macro-economics trends – whatever you are passionate about in the world of investing, opportunity awaits at AustralianSuper!

Skills required:

People who work at AustralianSuper need to be driven by our Members First ethos. Helping everyday Australians retire well is important to us and it will need to be important to you too. A passion for investing is also essential. When you work with us you will be making recommendations and decisions about how we invest over $150B of our members’ money. That’s a lot of capital to allocate! We’d love to know your great ideas.

Career progression:

Our interns and our graduates get exposure to different asset class teams from day one. This enables you to try out a variety of teams and working styles before you decide on where you would like to specialise. We have graduates, analysts, senior analysts and portfolio managers in each of our asset class teams. All of these opportunities are available to you at AustralianSuper. We also have personalised training programs and mentors to help you on your journey.

Graduate program:

Our graduate program is a two year rotation based program within the investment team. Graduates are exposed to four different asset class teams within the two years as well as receiving the benefits of a personalised training program, a mentor and a dedicated graduate program manager. All to make sure you get the most out of yourself as you start your investments career.

Internship Program:

Interns joining our Internship program in the Investments team will: • Work on 2 real investment projects • Work closely with Senior Managers & analysts • Present their views and findings of their projects to members of the investment team • Have the opportunity to gain a permanent graduate position

UNIT 34 | UNIT | 35

See where your background can take you: www.macquarie.com/helpmechoose

Be part of a talented global team. Instinctively entrepreneurial. Ambitious

in nature. Determined to succeed.

Where will a career at Macquarie take you?

macquarie.com

Macquarie Group

AU/NZ Offices:

• Sydney• Melbourne• Brisbane• Perth• Auckland

Departments:

• Banking and Financial Services• Corporate and Asset Finance• Corporate Operations Group• Financial Management Group• Macquarie Asset Management• Macquarie Capital• Risk Management Group• Commodities and Global Markets

Key Application Dates:

Winter Development ProgramOpens: MarchClose: April

Summer Internship ProgramOpens: MayClose: July

Graduate ProgramOpens: MarchClose: April

Application Process:

Visit macquarie.com/graduates and use our Help Me Choose Tool to find which business group is right for you.

Application opening and closing dates are listed on our websites. Apply by submitting your resume, cover letter and academic transcripts during these dates.

Asset management and finance, banking, advisory and risk and capital solutions

About us:

Macquarie is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities.As a graduate or intern at Macquarie, you’ll be part of a talented global team. Instinctively entrepreneurial. Ambitious in nature. Determined to succeed.Our programs can help you reach your potential and together we can create success for our clients, colleagues and communities. You’ll build your own future as you contribute to ours.We’re looking for students who bring something different; who can push boundaries, challenge processes and examine a problem from all angles.

Opportunities:

Macquarie opens up a wealth of opportunities and offers a wide range of benefits to employees ranging from a vast health and wellness package, retail benefits and offers and financial and insurance advice.With offices in 27 countries, Macquarie’s global footprint means there are also opportunities for staff to support our businesses around the world.Our employees have access to Macquarie Plus, our holistic wellbeing program, designed to empower you to become your best possible self – both at work and at home.Macquarie Plus provides access to a range of benefits and initiatives designed to support you in optimising your physical, psychological and financial wellbeing, and encourage you to make the most of the rich culture and sense of community you’ll find here at Macquarie.

The Macquarie Group Foundation:

The Macquarie Group Foundation is the philanthropic arm of Macquarie Group. It helps to strengthen the communities Macquarie staff live and work in by facilitating thousands of hours of staff volunteering and pro bono programs each year with community organisations around the world.The Macquarie Group Foundation have donated more than $A300 million to over 2,500 organisations globally since 1985.

Internship program:

We offer summer internships to students in their penultimate year of study. The program runs for 10 to 12 weeks from November. A summer internship offers you invaluable hands-on experience and can set you up for a successful career once you complete your studies. Working alongside leading industry professionals, you will receive a structured induction, on-the-job training and networking opportunities.We also offer a three week winter development program in Macquarie Capital for science, technology, engineering and maths students in their penultimate year of study.

Graduate program:

Join the Macquarie graduate program and become an integral member of the team from day one. Your career development starts with a tailored orientation and business group specific workshops. You will then embark on a structured 12-24 month program with on-the-job training, access to a comprehensive range of external and internal courses and the opportunity to build your business network.You’ll sit side-by-side with business leaders and have the opportunity to work on projects from day one.

Skills required:

At Macquarie, we value the diversity of thought from people with different backgrounds. We’re always looking for people who share our drive for innovation, ideas and excellence, no matter what their university degree is.

UNIT 36 | UNIT | 37

SIGGlobal Quantitative Trading Firm

About us:SIG is one of the most successful privately held financial firms in the world. With offices around the globe, we trade essentially all listed financial products and asset classes. Our world class education program improves analytical decision making, game theory, and quantitative modelling skills. Building virtually all of our trading technology from scratch, we are leaders and innovators in high performance, low latency trading.

Work perks:At SIG, we host regular events for employees, including our annual on-site poker event (and weekly social games), regular sporting events and nights out, such as Night at the Cricket, have an 80 seater cafeteria overlooking Sydney Harbour, fully stocked kitchen, with breakfast, lunch and snacks provided, and a relaxed dress code (short and t-shirts every day).

Skills required:To apply for SIG’s graduate programs, you’ll need a STEM or Actuarial Studies background with at least a distinction average, as well as strong analytical and maths skills and an interest in financial markets and/or technology.To be considered for SIG’s quantitative research team, you will need a PhD in a STEM, Actuarial Studies or Quant Finance.

Career progression:SIG values education and encourages continuous learning throughout your career.

For Assistant Traders, the career progression is to go from assistant trader to trader to desk lead. Your level of accountability grows with your demonstrated ability to apply strong quantitative analytical skills and manage risk.

Our technologists work on real time systems with petabytes of data on a daily basis. As you grow in your expertise, you will have the opportunity to work on a variety projects at the cutting edge of technology. Currently we are working on building the successor to the best options trading system in the world.

Assistant trader program:The Assistant Trader program involves working in a collaborative and collegial environment while learning to make positive expectancy decisions in financial markets. You spend your first six months in Sydney learning decision science skills, quantitative concepts, and understanding Asian markets. You then head off to the global HQ near Philadelphia, where you live (living expenses paid for by SIG) for 9-12 months and participate in an education program run by one of our founders, along with three senior traders. You get real-world experience working within a trading team, classroom learning, and also engage in ‘mock trading’ which teaches how to make trading decisions by simulating the trading floor of an open-outcry exchange.

The Graduate Developer program involves mentoring by some of the best technologists in the world. You’ll develop and build cutting-edge trading systems and infrastructure. Throughout your first year, we will introduce you to our technology environment and the specific technologies you will use at SIG. No matter what team you are on at SIG, getting a “big picture” perspective of the importance of SIG’s technology.

Internship program:Assistant Trader:When preparing for your Assistant Trader interview at SIG, we recommend you dust off your probability and logic textbooks. We also love books like Predictably Irrational and The Theory of Poker, so if you have some spare time, they’re great books to read.

Graduate Developer:We want to see your logic and programming ability when you interview at SIG, so start reviewing your object oriented programming theory, and take some online courses with Pluralsight. Our developers use Pluralsight for learning and absolutely love the content.

Quantitative Research:If you’re preparing for a quantitative research role at SIG, you want to start reviewing math and statistics - review your linear algebra, probability and statistics, but don’t just think inside the box. We love to see people who can think about creative approaches to complex problems.

Offices:

Level 48, Tower OneInternational Towers100 Barangaroo AveBarangaroo NSW 2000

Departments:

TradingSoftware DevelopmentQuantitative Research

Key Application Dates:

Graduate Applications Close: 30th April 2018

Application Process:

Please visit www.sig.com/careers to apply now

Assistant Trader Program:Expect to do two phone interviews followed by an onsite, face-to-face interview day, and expect to be quizzed on game theory, logic, mathematics, probability and statistics.

Graduate Developer:Expect to undergo two phone interviews and technical testing, followed by an onsite, face-to-face interview day, where you will be asked about various programming fundamentals.

Quantitative Research:Expect to undergo three phone interviews, coupled with a data exercise and an onsite, face-to-face interview day, where you will discuss your experience in quant research, technology, and your interest in financial markets

UNIT 38 | UNIT | 39

CFA Institute

CFA Exam Centers:

CFA program exams are offered in over 170 cities in June and over 70 cities in December.

Register here:

www.cfainstitute.org

Global Association of Investment Professionals

About us:

CFA Institute is a global association of investment professionals that sets the standard for excellence in the industry. CFA Society Sydney is a member society of CFA Institute. CFAS is a member-focused organisation, run by a group of dedicated volunteers elected by the members. The society is an association of local investment professionals across different industries.

What we do:

CFA Society Sydney is ultimately the conduit between local investment industry and CFA Institute. We manage the relationships between different stakeholders such as universities and regulatory bodies. We promote continuing education by organising educational seminar. We are in charge or prep course that assist candidates in study for the CFA exam. Last but not least, we endeavour to strengthen relationship within the investment management community by holding social events.

Research Challenge:

The CFA Institute Research Challenge is an annual, global competition that provides university students with hands-on mentoring and intensive training in financial analysis.

Each Research Challenge season leverages the efforts of over 140 CFA member societies, 3,500 member volunteers, and more than 5,000 students from over 1,000 universities. Local competitions (organized by societies) lead up to regional finals; regional champions then convene for the global final.

CFA Scholarships:

Program scholarships contribute to our mission of promoting the highest standards of ethics, education, and professional excellence. The CFA Program Access Scholarship is a needs-based opportunity for those unable to afford the full price of the enrollment and registration fees. The online application is available from 1 March – 15 September, for exams offered the following calendar year.

On-campus Seminars:

CFA Society Sydney works in conjunction with various student societies (e.g. UNIT) to provide a glance to the investment management industry.

UNIT | 41UNIT 40 |

Flow TradersProprietary Trading Firm

About us:

Founded in 2004, with offices in Amsterdam, Hong Kong, Singapore, New York and Cluj, Flow Traders is a proprietary trading firm and one of the world’s largest liquidity providers in Exchange Traded Funds (ETF’s). We maintain a continuous market presence, trading in multiple asset classes around the world. Our proprietary software and sophisticated infrastructure give our people the power to respond instantly at any time to complex, changing environments. We believe in the power of flow. That’s why we are a lean organization with a non-hierarchical approach to stimulate innovation and achievement.

Work perks:

Flow Traders offers hands-on training in Amsterdam (housing and flights provided) and a steep learning curvewithin the most dynamic of environments, providing you exposure to a broad market scope of different asset classes and instruments. Apart from a competitive salary, we provide free breakfast and lunch, organize company trips, support your gym membership and offer a discounted health insurance scheme. On top of that we reserve a large percentage of our business results in our bonus pool and provide performance based rewards from day 1.

Skills required:

• Degree in Finance, Economics or related and a demonstrable interest in Trading;• Understanding of Financial Products;• Knowledge of Excel and affinity with development languages;• Innovative & creative high potential with excellent mental arithmetic abilities;• Ability to reason logically and deliver under pressure;• Combine a distinct ability to spot arising opportunities and the assertiveness to seize them;• Fluent in English communication skills;• Ambitious, assertive, outgoing and an entrepreneurial mind-set;• Quick response time to any issues that affect mission critical trading decisions.

Career progression:

Graduate program:

As a Junior Trader with Flow Traders you will follow an initial 6 months intensive in-house training program in ourHeadquarters in Amsterdam, the Netherlands, covering all intricate details of our trading processes. Upon successful completion, you will start in our Singapore office and begin to manage a desk together with a senior trader. Gradually you will take on more responsibilities, start to formulate strategies and begin trading/ monitoring markets at your own desk focusing on a wide range of financial products.

How to best prepare for the role:

Students must have a keen sense of the financial markets and hence familiarise themselves with trading terms and current events in the industry. Students can refer to apps and portals such as Financial Times, Bloomberg or Wallstreet Journal amongst others.

As our 6 months training program provides students with the required skill set - we mainly look for the curiosity and passion for trading more than anything else.

UNIT 42 | UNIT | 43

Offices:

Singapore:8 Marina View # 39-03 Asia Square Tower 1, Singapore 0189

Hong Kong:Room 2802 Hysan Place, 500 Hennesy Road, Causeway Bay Hong Kong

Departments:

Trading

Key Application Dates:

Open all year around

Application Process:

Interested candidates, please upload your resume and motivation letter via https://www.flowtraders.com/careers/jobs/trading/singapore/junior-trader

InvestSMART

Offices:

L10, 255 George StreetSydney NSW 2000Australia

Departments:

Investments – Fixed Income, Alternatives, Equities

Distribution – Client Services, Business Development, Marketing, Product

Business Management - includes Finance, Business Systems, Performance, Human Resources,

Compliance, IT, Legal, and Investment Operations divisions

Key Application Dates:

TBA

Investment Company

About us:

Founded in 1999, InvestSMART Group Limited (ASX:INV) brings together three leading companies to give members actionable investment tools, wealth advice and independent ASX-listed stock research: InvestSMART, Intelligent Investor, and Eureka Report. We believe everyone should have the confidence to control their financial future and it shouldn’t be hard or expensive to do so.

Work environment:

We’re a constantly growing company with friendly people, good work-life balance, and a fun, collaborative workplace. There are regular team drinks and company events, and you get to develop several internal and external relationships, which can provide you with social networking opportunities.

Skills required:

We have several different departments, which require different skill sets and experiences. Overall, you need a passion for finance, investing, and technology, with excellent written and verbal communication and presentation skills. Excellent attention to detail, being organised, and being adaptable to suit our continuously evolving brand is essential.

Career progression:

On completion of your internship, you can apply for our graduate programme in one of our business streams where you will have multiple team rotations throughout the department to enable your development. You’ll also have the opportunity to expand your network and gain a broader understanding of the business area. In addition to a structured development programme in a highly supportive team environment, you will gain valuable skills and experience on which to build your future career.

Internship program:

Working at InvestSMART would provide you with invaluable experiences, and as a constantly evolving brand, there are plenty of opportunities that can be taken. A career at InvestSMART can offer differing options depending on the department, and a quick career progression is available.

UNIT 44 | UNIT | 45

Propex

Offices:

Sydney Gold CoastSingapore

See website for more detail

Key Application Dates:

Futures trading program every 2 – 3 monthsExperienced apply at any time

Application Process:

Online : Application, Online Program, Interview, In house role

Inhouse: Application, interview, In house training, Interview round 2, In house role

Proprietary Trading Firm

About us:

Propex Derivatives is a renowned and well-established proprietary trading firm with offices in Sydney, the Gold Coast and Singapore. At Propex, we specialise in providing capital for established traders as well as training and funding junior traders. With a supportive culture and successful track record of growth, today we focus on futures, equities, foreign exchange and commodities.

Work environment:

We have modern offices in the Sydney CBD close to all transport lines. Importantly, we have the fastest access to the major futures exchanges. We constantly update our trading infrastructure and systems to provide our traders with all the technology they need. Being a large group of traders, we offer knowledge and support to junior traders.

Skills required:

You need to be truly passionate about financial markets. With this career choice you need to learn many skills that only comes with a lot of hard work and experience.

It takes time to gain the knowledge required to become a successful professional trader. You will need to demonstrate that you have a lot of resilience which is required when you face the inevitable challenges that trading involves.We recommend students to be proficient at some level in of the following areas: economics, mathematics, programming and financial products.

Training programs:

Propex’s training program has been running for many years and is the perfect avenue for novice traders looking to take their trading to the next level. If you’re interested in potentially become a full time professional trader, this program is ideal for you. We run the program approximately every 8 weeks and each one runs for 4 weeks initially. Successful candidates will then be invited for an interview to discuss the requirements to progress to the next stage of becoming a professional trader at Propex.

How to qualify for the training program:

We require candidates to demonstrate some level of trading experience. Trading regularly on a Demo account is useful to gain a good understanding of the financial markets. Read a few books, focus on topics such as the psychology of trading, economic or macro fundamentals and day trading. Please see our website for more details about Proprietary Trading.

Useful Links:

Trading- Futures exchanges:https://institute.cmegroup.com/?redirect=/education/getting-started.htmlhttp://www.asx.com.au/products/interest-rate-derivatives.htm

News:www.bloomberg.comwww.reuters.comwww.businessinsider.comwww.forexfactory.com

Internet:Follow on Twitter – ASX, CNBC’s fast money, Peter Switzer, ANZ Research, Peter Martin, Atlanta Fed, Reuters Business, RANsqwark, Westpac economics, Financial Review, RBA, Markit Economics, CME Group, Bloomberg Markets, zerohedge, Macro Business and many others you find interesting

UNIT 46 |

Offices:

L10, 255 George StreetSydney NSW 2000Australia

Departments:

Investments – Fixed Income, Alternatives, Equities

Distribution – Client Services, Business Development, Marketing, Product

Business Management - Finance, Business Systems, Performance, Human Resources, Compliance, IT, Legal, and Investment Operations divisions

Key Application Dates:

Please refer to our website for updated information

About us:

Aberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for our clients. We offer a comprehensive range of asset classes from developed and emerging market equities and fixed income, to multi-asset, real estate, alternatives and private markets.

We employ over 4,500 professionals in 50 offices around the world, giving us the resources to transform new investment ideas into practical investment products and the scale to deliver real value for money to investors. We conduct our own primary research, focusing on the fundamentals of any prospective investment, to build high-conviction, long-term investment portfolios. The investment needs of our clients drive everything we do.

Work environment:

Our Australian office offers a small, team-focused and friendly environment. We have a collaborative culture focused on quality, ambition, teamwork, integrity and challenge. Our people are our most important asset. We are social and encourage our people to be involved in regular events including lunch and learns, our social, charity and diversity committees and innovation initiatives. Other benefits include casual Fridays, regular social gatherings, bi-weekly fruit deliveries and a weekly group personal training session.

Skills required:

At Aberdeen Standard Investments we are looking for people who are curious, bright, articulate and hard working to succeed across all areas of our business. Whether you are looking for a career in Investments, Distribution, Product or Marketing, Operations or Risk, we can offer experience in a variety of disciplines.

The size of our operation, both locally and internationally, has increased dramatically over the years, and through multiple acquisitions and organic growth, our strong culture has prevailed. We are committed to recruiting and retaining talented and motivated individuals who put clients at the heart of our business.

Our investment philosophy and process are founded on high quality teams of people, dedicated to delivering consistent service to our customers

Career progression:

On completion of your internship, you can apply for our graduate programme in one of our business streams where you will have multiple team rotations throughout the department to enable your development. You’ll also have the opportunity to expand your network and gain a broader understanding of the business area. In addition to a structured development programme in a highly supportive team environment, you will gain valuable skills and experience on which to build your future career.

Internship program:

Our internship programme acts as a springboard to our graduate programme, with most Aberdeen graduates completing an internship before applying to join our graduate scheme. Our internship programme gives you a valuable opportunity to learn about our business, our people and our culture. You’ll have exposure to real business situations, with real responsibility – allowing you to make informed decisions on your future career, while having the chance to show us what you can do.

Interns are offered a realistic preview into jobs in the asset management industry and hands-on experience performing real work. This allows you to develop your practical and professional skills while gaining an excellent insight into the business.

Throughout the experience, each intern has the opportunity to work one-on-one with our team members on projects and daily transactions, while gaining exposure to both the strategic and operational aspects of our business. In previous years our interns have added value through work on assignments including:• Analysing financial and operating information• Attending client meetings and company visits with company leaders• Performing statistical analysis and financial modelling• Conducting research for our social media strategy• Undertaking competitor benchmarking

Aberdeen Standard InvestmentsGlobal Asset Manager

UNIT | 47

Section 4 Cover Art (Articles)

Technological Disruptions

Section 4: State of Finance

UNIT | 49UNIT 48 |

We live in an era where change is at the forefront of almost every facet of our lives; whether it is the way we live, the way we interact or the way we work. Technology is at forefront of this change. It is allowing us to reimagine how we do things in manner that drives efficiency and optimum performance.

Technology has been influencing the realm of finance for a considerable period of time. Long gone are the days where the brokerage houses and stock exchanges were full of telephone operators- placing a trade today is merely a matter of a click. But much more profound things are happening in finance where tools such as artificial intelligence, big data and algorithms are pushing boundaries and redefining how certain operations are conducted.

Of all the prospects that come with pioneering technology, artificial intelligence is without a doubt one of the most appealing. There is huge potential for financial institutions to cut costs and drive efficiency, with UBS’ strategists seeing a 3.4% revenue uplift coupled with cost savings of 3.9% over the next three years courtesy of incorporating artificial intelligence into operations.

One of areas of finance most affected by artificial intelligence is investment advisory. We have seen the advent of amazing applications such as ‘Cleo’, which is an intelligent assistant that helps everyday users manage their finances and provides them with prudent investment advice according to their requirements. Similar applications include UBS’s ‘RoboAdvisor’, which is tailored towards a more sophisticated user base.

Artificial intelligence is also taking its toll on money management, where self-learning machines are starting to take the front seat in investment decision-making. BI suggests that by 2020 around $1 trillion will be managed by ‘robo-advisors’ globally. JP Morgan’s latest LOXM platform is a pioneering example of this. Whether it is investment advice or money management, the trend, however, is clear.

More and more institutions are starting to recognise the potential of artificial intelligence and have started pouring money into its development; UBS has spent in excess of $11 billion on artificial intelligence since 2010. Artificial intelligence certainly seems to be an exciting prospect in Fintech at this stage.

They say ‘knowledge is power’, we can modify this adage in the context of machines by saying that ‘Data is power’. With increasing automation, more and more data is being produced than ever before. Every google search, every click on facebook is being recorded and stored away. Access to data enables analysis of it, and derivation of valuable insights. This has huge potential in finance. Institutions are increasingly looking to formulate algorithms that have the ability to filter through large amounts of data.

We have seen this take off in the realm of algorithmic trading where algorithms are fed with live streams of data to make optimal trading decisions. Another reason why machine analysis is preferred is because it eliminates the human vulnerability of incorporating emotions into decision-making.

Pure, objective decisions based entirely on facts, enabled

by machines are much more desirable.

An example of how big data is being leveraged in finance to

attain a competitive edge is that of the ‘Ant Financial’, Ali Baba’s digital

Algorithms are not, by any means, alien to finance. Today they are being utilized in almost every type of financial institution from brokerages to investment banks to power decision making and cut costs. Algorithmic trading has is credited for eliminating arbitrage opportunities in financial markets, thereby

making them more efficient than ever before. The ability of algorithms to process and filter large amounts of data live make them an incredible tool to be used in forecasting financial markets.

Algorithms are used in valuation, forecasting (predictive models), trading and other generic types of decision-making in finance. Recently we have seen algorithms move into areas such as compliance, regulation and even fraud prevention. The applications are seemingly endless.

These are just a handful of examples of how technology and finance are intermingling to power innovation - a brief glimpse into the next steps of finance.

Innovation & Finance

AI

Effects

payments arm. It is estimated that Ant Financial has a client base of more than 500 million , which is almost 10 times the level of the world’s biggest banks. This enables Ant to make better credit decisions using ‘huge amounts’ of data.

Algorithms

Big Data

Rise of passive investingMFID II

UNIT | 51UNIT 50 |

Taking effect on January 3rd, MFID II is a law which was designed to protect investors and restore the trust in the financial system that was lost during the GFC. Despite only currently affecting the EU, the global presence of many of the investment banks and fund managers makes it likely that these regulatory changes will have an impact on the local Australian market.

What is MiFID II?

The area which MiFID is expected to have the largest impact is equity research and to understand why it is useful to understand the traditional broking model. Previously, investment banks and brokers provided equity research to fund managers essentially free of charge with the expectation that by providing these investment ideas, brokers would be compensated by the commission on the execution of the fund manager’s trades.

On the other hand, the industry is likely to shrink as analysts with a poor record are let go. In fact, McKinsey & Co. expects investment research to cut $1.2b in research spending.

Howevever, surveys conducted by Bloomberg indicate that headhunters expect banks to give their analysts one to two quarters to prove their ability to bring in revenue. Moreover, profitable research teams may decide to leave the investment bank structure and set up their own independent research shops, increasing the fragmentation of this industry. Despite the uncertain future of the equity research departments of investment banks, there is some potential upside as investment managers are expected to beef up their internal research departments. For example, Vanguard, one of the world’s largest asset managers, has indicated an increased reliance on internal analysis.

Impact on Equity Research

Despite the global markets divisions of investment banks having already been subjected to strict regulation following the GFC, primarily Basel III, MiFID II places a further compliance burden on these segments.

Measures enacted include: Traders must now report and time-stamp trades almost immediately Bond traders must now report deals within 15min of the transaction Brokers and investment managers must record conversations relating to a transaction

This complicated mess of new regulation means that aspiring traders must have an intimate understanding of the new requirements and structures and be able to communicate and educate buy-side managers. The most desirable traders will be those that can provide advisory services as well as liquidity. On the downside, there is a chance that the increased compliance expense associated with operating trading desk makes them uneconomical and thus further consolidation is expected in the sector should be expected.

Impact on Sales & Trading

Investment Bank

Equity Research

Sales & Trading

Asset Manager

InvestmentTeam

Execution Team

Analyst Access

Research Report

Trade Instructions

Commission Fee

Under this model, commissions flowed to banks that had the top analysts rather than those with the most competitive prices. Following MiFID II, investment banks will need to charge separately for research and brokerage services

Now what does that mean to you as an aspiring research analyst?

Well, it is widely expected that fund managers will need to be more selective with the research they are willing to pay for. And as a result, MiFID II should benefit top-rated equity research analysts whose access banks can charge a premium on.

A Turning TideThe active vs passive investing story is not a new nor is it unknown; as these days it is unusual to go a few days without seeing a hedge fund manager vehemently warning of the dangers of ‘index-tracking’ or ‘lazy investing’ in the local papers. But it is hard to ignore the numbers with Bloomberg finding that more than a third of US assets now live in passive funds, up from a fifth a decade ago.

Reasons for change

Poor relative performance of

active management

Passive Investing is lower in

cost

Development of Innovative

ETFs(‘Smart Beta’)

Impact on employment prosectsNow why does this matter for you, a student about to enter the financial services industry? Naturally, the active management industry has been forced to become more efficient and cost effective in order to survive the ongoing assault on management fees and this could make finding employment in the sector increasingly challenging. On the other hand, the asset management industry as a whole faces significant tailwinds which could boost your employment prospects.

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Firstly, Australia’s savings pool continues to grow at a blistering pace with superannuation assets now at a record high of $2.5 trillion. However, the Australian population also continues to age, and so the distribution phase of their pension/super funds becomes increasingly important. The management of this pension payout process is expected to be an ongoing struggle for the industry and presents strong employment prospects for those willing to tackle the issue.

Record low interest rates and bubbly equity markets have forced investors into alternative asset classes such as infrastructure and private equity to achieve sufficient risk-adjusted rates of return. Given the difficulty in replicating an index of these assets due to their illiquidity and delayed pricing, ETFs have not yet taken a hold of this segment. Furthermore, the deal-based nature of work in private equity and infrastructure funds requires significant levels of human intervention and negotiationn

Quant Funds also represent a significant growth opportunity, with Morgan Stanley finding that although they currently only represent 7% of the market’s assets under management, this is growing at a 17% CAGR. These active funds use mathematical models to pick stocks and with huge data sets becoming more available than ever, demand for roles like quantitative analysts can only grow.

Women In Finance

UNIT 52 | 53

Section 5: Subject Selection

UNIT | 53

Financial institutions have thrived under the guidance of women:

Under Shemara Wikramanayake’s leadership, Macquarie Asset Management has become Macquarie’s fastest growing and most successful operation. In a male-dominated environment, Wikramanayake’s “willingness to develop, grow and challenge herself” has ultimately triumphed over any underlying discrimination, cementing her reputation as one of the most successful executives in Australia. As one story among many, Wikramanayake’s narrative serves as a reminder that ambition, determination and passion will eventually prevail, illuminating the path for other women to follow.

Recently, the finance industry has been swept with tides of change, as businesses and financial institutions recognise the importance of gender diversity. Impressive statistics paint images of progress, with 83% of BFGEI (Bloomberg Fixed Gender-Equality Index) firms now sponsoring financial education programs for women, and female representation on financial boards growing to 20% in 2016.

However, the reality is not so rosy. The great financial sea of opportunity remains dominated by men. Only 5% of ASX200 companies have female CEOs, and nine ASX200 boards remain all-male. Men are still promoted at materially higher rates, fuelling perceptions of a “glass ceiling” for women. Companies are plagued by poor female retention rates and a drought of talented women.

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. Resistance to reforms is evaporating in the face of Key Performance Indicators (KPIs) and other financial incentives introduced to increase diversity. 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”.

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

labor market, contribute to the economy, generate growth, have jobs, and so on.

A changing environment

A drop in the Ocean

Turning a ripple into a splash

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Women bring unique skills, which have tangible effects: Neuroscience research has found that women are more likely to possess traits such as empathy, trust-building and listening to others -- essential skills in the finance industry.

Female representation is improving: Women now make up 26% of ASX200 directors, up from 8% a decade ago, and the Australian Institute of Company Directors has set a target for 30% female directors by the end of this year.

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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 diversity of thought, which ultimately breeds innovation.

Making waves

Christine Lagarde, Managing Director of the IMF

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USYD Subject Selection Guide:At USYD, 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 if you have enough credits remaining

Investment Banking & Advisory:

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

Investment Management:

FINC3020 Financial Risk Management FINC3021 Finance Theory 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

Requisites:BUSS1020 Quantitative Business AnalysisBUSS1040 Microeconomics

Core 2000 level units:FINC2011 Corporate Finance 1FINC2012 Corporate Finance 2

Core 3000 level units:FINC3017 Investments & Portfolio Management FINC3600 Finance in Practice

Requisite Subjects

FINC 2011 FINC 2012

FINC 3014 FINC 3015 FINC 3013FINC 3017 FINC 3022 FINC 3600

Semester

Sample Finance Major Roadmap (Geared towards investment banking)

UNIT 54 |

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.

Investment Banking & Advisory:FINS3625 Applied Corporate FinanceBuilds on FINS1613 and provides a more in-depth understanding of corporate finance

FINS3630 Banking Financial ManagementFocuses on the theory of banking from a financial management perspective

FINS3623 Venture CapitalIntroduces the characteristics of venture capital and private equity investments

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

FINS3641Security Analysis & EvaluationPrimarily focuses on analysing the value of security and evaluating their potential performance

FINS3636 Interest Rate Risk MgmtExplores interest rate risk and risk management techniques with an emphasis on problem solving

Financial Planning: FINS2622 Asia-Pacific Capital MarketsAims to increase student’s understanding of investing in emerging markets in the region

FINS3626 International Corporate GovernanceExplores tiers of a corporation including director responsibilities, board structure, regulations, auditing and shareholder activism

FINS3650 International BankingCovers the global marketplace, international services and recent global market collapses

Other:

FINS3655 Behavioural FinanceFINS3775 Research Methods in FinanceFINS3639 Estate Plan & Asset Protection

Compulsory:FINS1612 Capital Markets and InstitutionsProvides an overview of the functions of financial institutions and financial markets as well as provide an understanding about key financial terminology

FINS1613 Business FinanceIntroduction to quantitative areas in finance such as financial mathematics, investment valuations, capital budgeting and costs of capital

FINS2624 Portfolio MgmtIntroduction to into investment theories and will teach students how to price different assets

FINS3616 International Business FinanceFocuses on adopting a global mindset while managing risk and exploiting exchange rates

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

FINS3637 Wealth Management AdviceFocuses on developing key planning financial and skills required to become a financial planner

FINS3634 Credit Analysis and LendingExplores the concept of credit risk and how to mitigate such risk through various tools

FINS3637 Wealth Management AdviceTheory-based course which provides knowledge to understand a client’s legal and economic situation

FINS3633 Real Estate FinanceCovers commercial and residential real estate

UNIT | 55

UniMelb Subject Selection Guide:

• 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.

• A finance major at Monash involves 4 compulsory units and 4 elective units:

• Currently, you are only permitted to take one third year course.

• 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.

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

• 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.

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

• 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.

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

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

BTX3130 Stock exchange and derivatives law• Analyse financial market regulation and administration• Describe liability stemming from misleading and deceptive conduct

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

Basics: Basics:Finance:

Economics:Bachelor of Commerce Structure:

Compulsory Subjects:

Elective Subjects: (Select 4)

UNIT 56 |

Monash Subject Selection Guide:

UNIT | 57

Macquarie Subject Selection Guide:

UNIT 58 |

• A finance structure at Macquarie University involves 8 core level 100 units followed by, 2 level 200 units, and 4 level 300 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

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

Basics:

Core:

Core:

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