IT’S all about the experience.
To address the shortage of entry level executives, the financial service industry is recruiting talents and giving them the relevant experience required.
The industry-driven initiative named Financial Sector Talent Enrichment Programme (FSTEP) is an intensive one-year training programme that prepares trainees for the operational aspects of finance and banking.
“There are two ways to join: submit your resume to FSTEP or deal directly with participating financial institutions.
“Either way, you must get a sponsorship to qualify for the training programme,” said HELP University student Teng Keat Yee.
After six months of intensive training, trainees are expected to complete a six-month internship with a sponsoring financial institution to complete the full FSTEP training programme.
FSTEP offers a monthly allowance of RM2,200 to eligible participants taking the syllabus.
Admission requires participants to be Malaysian citizens under the age of 30 and possessing not more than three years of working experience.
Participant Prushotaman Batumalai said experience is a key entry point into the finance sector.
“The selection will be more about your core values and leadership skills rather than your background. You can even be studying law or architecture,” he said.
Each trainee looked forward to the activities neatly detailed in their programme schedule.
“I want to really understand the banking world and take up soft skills training,” said Teng, a finance student.
“Studying is so theoretical, this will give us relevant experience.”
When asked which parts of the programme excited them the most, the 10-day outdoor training was described as the highlight.
“This 10-day outbound school will have solo camping, kayaking and … no phones, no luxuries at all in fact. I have to admit I’m used to the best cooler my dad has keeping our food cold on trips fishing trips, this will be a true test” said Prushotaman jovially.
The experience would be similar to a Survivor challenge, the participants joked.
“It will help stop the bankers’ reputation as ‘softies’ and make us tougher through team building besides teaching us adaptability,” said participant Wong Kian Hao.
The batch of industry debutants recently witnessed the signing of a Memorandum of Understanding (MoU) between FSTEP and Bloomberg L.P. (Bloomberg).
Present at the signing were Institute of Bankers Malaysia chairman Tan Sri Azman
Hashim, Bloomberg L.P. Asean sales head Nitin Jaiswal and FSTEP head Lee Khee Joo.
Azman advised participants who had obtained their degrees that learning is a life-long process, adding that they would need to keep enhancing their technical competencies to compete in the market.
“Banking today is challenging. With the expansion of new business models, new skill set requirements have also evolved,” he said.
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