Having so many friends (and ex-es) in engineering lines made me always keeping mum about what I do. Not that I’m ashamed or whatever, it’s just they have never shown any interest or even ask in details about what I do to earn my living. Even many years passed by, I bet most of them don’t really know what exactly I’m doing. Yeah they know I’m in Finance, or banking business but they never have skeleton idea of what is it that I’m doing.
OK today I feel like spilling the beans on the grounds coz I gotta make something clear, eventhough I work in a Bank, I don’t exactly deal with $$$.
First of, when I was in SC, I was in the Takeovers and Mergers Department. Just a footnote, those who don’t know what SC is – SC is the regulatory body that regulates the companies in Malaysia, especially for protection of their shareholders (mainly PLC. Wanna ask me what is PLC? They are public-listed companies, means that companies that their shares are being float on the Bursa Malaysia Securities (used to be KLSE) and the affairs of their business and company are being publicly advertise and known via announcements in Bursa Malaysia and newspaper widely. Kira tiada rahsia antara kita la 🙂
Have I bore you yet? Ni baru intro, belum lagi masuk isipati ni 🙂
During my SC days, I process and evaluate proposals from the PLCs through the advisers (mostly Investment Banks and audit firms that have license to conduct any investment advice or submit proposals to SC) for any take-over exercise. From there on, I will do memo for person who authorize to make decision (Director, Chairman), and once the decision has been made, I will then write letters to the advisers to be conveyed to the company stating the decision, whether it is approve or rejected. If there is any rejection, they may come again and apply for an appeal and if it was an approval, they are now free to perform the exercise that they have been applied before.
My seniors in there thought me, we always have to think from shareholder’s point of view. Although I have never been a shareholder to any companies, I always have to come up with queries and have to think like a shareholder, eg: will that exercise benefit me, or will put me in a state of loss, etc. From there I will then make necessary recommendations in the memo, for it to be approved or otherwise.
Challenging (especially to write a 7-pager of memo!). Tiring. But overall it was a worthful experience. I learnt alot during my 2.7-years tenure there.
Due to some ‘undisclosed’ circumstances, I , however decided to quit SC eventhough people say it is ‘the place’ to be.
Now I’m in one of the Investment Bank in Malaysia (remember just now I tell you about the adviser?). I’m in Legal and Compliance Department. I’m taking care the compliant side of Corporate Finance -CF (become the adviser for companies who intend to do any fund-raising activities, any issuance of shares and take-over exercise), Debt Capital Market -DCM(become the adviser for companies who plans to take up long term debt such as Commercial papers, Bonds, MGS, etc), Unit Trust (provide adequate info to Unitholder and manage their asset management), Treasury (trading and equity holding) and Bankwide (other stuffs as licensing and training). Bigger responsibility and scope of work, but I have to say less pressure. I have to review submissions from CF and DCM and highlight any wrongdoings or non-compliant with the Acts and Guidelines before it is being sent to SC. I also have to review (other department’s report) and prepare (Bank”s reports) before it is being submitted for SC or Bursa’s consent. I also have to detect any breach of the Securities Law and Acts (We have the Banking and Financial Institution Act [BAFIA] 1998, Capital Market and Services Act [CMSA] 2007, the Bursa Rules and Guidelines as well as Bank Negara’s Garis Panduan [GPs]) and report to the authorities if there’s any non-comformity. Kira macam jadi cikgu la kat sini. Cek keje anak murid.
And they say Legal and Compliance department is the last defense of any organizations. Sebab we are the thin line between the organization and the authority, so any salahsilap would have to be detected by my department or else it will be a whole other story if the authorities (SC, Bursa, BNM) find out about it. Siap sediala dapat surat cinta 🙂
I love what I do. Coz I find it interesting and different each day. Investment Banking is totally different business with Commercial Banking. Especially in my line of work, I don’t exactly deal with clients but mostly with other IB’s and the authorities. It is definitely a risky business. But who am I if not a risk taker kan?
Heh, I’m due for SC exam soon sbenanya. My 6-months grace period since I leave SC has passed since, so now I’m required to sit for the exam in order to allow me to become the license holder. At least this is one of the way I get to remember a thing a two written in the book! Wish me luck!