What are the Careers for Banking & Finance Graduates in Malaysia?

Find Out What You Will Work as in Malaysia’s Banking & Financial Services Sector

There is a demand for top graduates in banking and finance in Malaysia. Salaries for banking & finance graduates in Malaysia can be very high. The role of the financial sector is envisioned to continue growing to be a key driver and catalyst of Malaysia’s economic progression. This sector is projected to be more competitive, dynamic, inclusive, diversified, and integrated, with the ability to offer world class financial services, in terms of breadth, depth and quality to serve the needs of Malaysia.

Learn about the education pathway and preparation needed to have a career in banking and finance in Malaysia. Get an overview of the entry requirements into top private universities in Malaysia as well as details about job prospects & salary to find out if this is the career for you.

Students interested in a career in Financial Sector can pursue the following degree programmes:

• Finance
• Banking & Finance
• Finance & Investment
• Financial Technology (Fintech)
• Finance & Economics
• Financial Engineering
• Accounting & Finance

You might also be interested to read:

• Top 10 Private Universities in Malaysia for Banking, Finance & Investment Courses
• Ten Top Private Universities to Study Finance in Malaysia
• How to Get Rich with a Finance Degree from a Top Private University in Malaysia
• Best Financial Technology (Fintech) Degree Courses in Malaysia – What are the Subjects, Course Details & Entry Requirements,
• How a Finance Course in Malaysia Can Make You Unbelievably Rich!

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What is a Career in Banking & Finance Like?

Work in banking and money management services such as saving, investing and retirement plans. Careers range from customer service, financial advisers and analyst positions.

Typically, banking and money management services careers thrive in commercial banks, mortgage companies, savings and loan establishments and credit unions. Government agencies and companies also require financial services professionals to manage their portfolios and statements and also to audit and regulate other institutions.

The banking and financial services field is large with many opportunities for growth. In order to get into the banking and financial services field, most positions require a bachelors degree in finance or business related field. Banking and financial services professionals can expect to work in an office or banking environment. They typically work Monday to Friday work hours, but may need to work overtime when necessary. They should enjoy working with numbers, have strong analytical skills and excellent communication abilities to work with customers, clients and stakeholders.

Professionals involved in financial services research, plan and lead financial plan activities to invest and manage resources for companies and organisations. They must be able to interpret financial statements and predict future market changes to recommend beneficial investments and manage financial funds. Financial services professionals such as financial managers manage the cash flow for companies and organisations, overseeing the preparation of financial reports and working with investment strategies.

Individuals seeking a career in banking and financial services may gain experience first in customer service positions in banks, lending institutions and credit card companies. They can also work in account services, facilitating account transactions for banks and loan service organisations.

They may then move on to sales positions where they can provide information to investors about stocks, bonds and retirement funds and assist customers with mortgage loans. Financial analysts typically work for investment banks, insurance companies, mutual fund organisations, and pension and securities firms. They provide analytical expertise to the company or organisation on investment predictions and strategies. Overall, banking and financial services is a strong and powerful industry to be in.

What do Banking & Finance Professionals work as in Malaysia?

• Financial Managers
  • Almost every firm, government agency, and other type of organization have one or more financial managers. They oversee the preparation of financial reports, direct investment activities, and implement cash management strategies as well as develop strategies and implement the financial goals of the institution.
  • The duties of financial managers vary with their specific titles, which include controller, treasurer or finance officer, credit manager, cash manager, risk and insurance manager, and manager of international banking.
• Controllers
  • They direct the preparation of financial reports, such as income statements, balance sheets, and analyses of future earnings or expenses, that summarize and forecast the organization’s financial position.
  • Controllers also are in charge of preparing special reports required by regulatory authorities. Often, controllers oversee the accounting, audit, and budget departments. Treasurers and finance officers direct the organization’s budgets to meet its financial goals.
  • They oversee the investment of funds, manage associated risks, supervise cash management activities, execute capital-raising strategies to support a firm’s expansion, and deal with mergers and acquisitions.
• Credit managers
  • They oversee the firm’s issuance of credit, establishing credit-rating criteria, determining credit ceilings, and monitoring the collections of past-due accounts.
• Cash managers
  • They monitor and control the flow of cash receipts and disbursements to meet the business and investment needs of the firm. For example, cash flow projections are needed to determine whether loans must be obtained to meet cash requirements or whether surplus cash should be invested in interest-bearing instruments.
• Risk and insurance managers
  • They oversee programs to minimize risks and losses that might arise from financial transactions and business operations. They also manage the organization’s insurance budget. Managers specializing in international finance develop financial and accounting systems for the banking transactions of multinational organizations..
• Branch Managers
  • Branch managers of financial institutions administer and manage all of the functions of a branch office. Job duties may include hiring personnel, approving loans and lines of credit, establishing a rapport with the community to attract business, and assisting customers with account problems.
  • Branch mangers also are becoming more oriented toward sales and marketing. As a result, it is important that they have substantial knowledge about all types of products that the bank sells.
• Financial managers
  • Financial Mangers who work for financial institutions must keep abreast of the rapidly growing array of financial services and products. In addition to the preceding duties, all financial managers perform tasks unique to their organization or industry.
  • For example, government financial managers must be experts on the government appropriations and budgeting processes, whereas health care financial managers must be knowledgeable about issues surrounding health care financing. Moreover, financial managers must be aware of special tax laws and regulations that affect their industry.
  • Financial managers play an increasingly important role in mergers and consolidations and in global expansion and related financing. These areas require extensive, specialized knowledge to reduce risks and maximize profit. Financial managers increasingly are hired on a temporary basis to advise senior managers on these and other matters. In fact, some small firms contract out all their accounting and financial functions to companies that provide such services.
  • The role of the financial manager, particularly in business, is changing in response to technological advances that have significantly reduced the amount of time it takes to produce financial reports. Financial managers now perform more data analysis and use it to offer senior managers ideas on how to maximize profits.
  • They often work on teams, acting as business advisors to top management. Financial managers need to keep abreast of the latest computer technology to increase the efficiency of their firm’s financial operations.
• Financial analysts and personal financial advisors
  • They provide analysis and guidance to businesses and individuals in making
  • investment decisions. Both types of specialists gather financial information, analyze it, and make recommendations. However, their job duties differ because of the type of investment information they provide and their relationships with investors.
  • Financial analysts assess the economic performance of companies and industries for firms and institutions with money to invest. Also called securities analysts and investment analysts, they work for investment banks, insurance companies, mutual and pension funds, securities firms, the business media, and other businesses, helping them make investment decisions or recommendations.
  • Financial analysts read company financial statements and analyze commodity prices, sales, costs, expenses, and tax rates in order to determine a company’s value and to project its future earnings.
  • They often meet with company officials to gain a better insight into the firm’s prospects and to determine its managerial effectiveness.
  • Financial analysts can usually be divided into two basic types: those who work on the buy side and those who work on the sell side. Analysts on the buy side work for companies that have a great deal of money to invest.
  • These companies, called institutional investors, include mutual funds, hedge funds, insurance companies, independent money managers, and charitable organizations, such as universities and hospitals, with large endowments.
  • Buy side financial analysts work to devise investment strategies for a company’s portfolio. Conversely, analysts on the sell side help securities dealers to sell their products. These companies include investment banks and securities firms. The business media also hire financial advisors that are supposed to be impartial, and as such occupy a role somewhere in the middle.
  • Financial analysts generally focus on a specific industry, region, or type of product. For example, an analyst may focus on the utilities industry, Latin America, or the options market. Firms with larger research departments may divide the work even further so their analysts can maintain sharp focus.
  • Within their areas of specialty, analysts assess current trends in business practices, products, and competition. They must keep abreast of new regulations or policies that may affect the investments they are watching and monitor the economy to determine its effect on earnings.
  • Some experienced analysts called portfolio managers supervise a team of analysts and help guide a company in selecting the right mix of products, industries, and regions for their investment portfolio. Others who manage mutual funds or hedge funds perform a similar role and are generally called fund managers. Other analysts, called risk managers, analyze portfolio decisions and determine how to maximize profits through diversification and hedging.
  • Some financial analysts, called ratings analysts, evaluate the ability of companies or governments that issue bonds to repay their debts. On the basis of their evaluation, a management team assigns a rating to a company’s or government’s bonds, which helps them to decide whether to include them in a portfolio. Other financial analysts perform budget, cost, and credit analysis as part of their responsibilities.
  • Financial analysts use spreadsheet and statistical software packages to analyze financial data, spot trends, and develop forecasts. Analysts also use the data they find to measure the financial risks associated with making a particular investment decision. On the basis of their results, they write reports and make presentations, usually with recommendations to buy or sell particular investments.
• Personal financial advisors
  • They assess the financial needs of individuals. Advisors use their knowledge of investments, tax laws, and insurance to recommend financial options to individuals. They help them to identify and plan to meet short- and long-term goals. Planners help clients with retirement and estate planning, funding the college education of children, and general investment choices.
  • Many also provide tax advice or sell life insurance. Although most planners offer advice on a wide range of topics, some specialize in areas such as retirement and estate planning or risk management.
  • Personal financial advisors usually work with many clients, and they often must find their own customers. Many personal financial advisors spend a great deal of their time making sales calls and marketing their services.
  • Many advisors also meet potential clients by giving seminars or lectures or through business and social contacts. Finding clients and building a customer base is one of the most important aspects of becoming successful as a financial advisor.
  • Financial advisors begin work with a client by setting up a consultation. This is usually an in-person meeting where the advisor obtains as much information as possible about the client’s finances and goals.
  • The advisor then develops a comprehensive financial plan that identifies problem areas, makes recommendations for improvement, and selects appropriate investments compatible with the client’s goals, attitude toward risk, and expectation or need for a return on the investment.
  • Sometimes this plan is written, but more often it is in the form of verbal advice. Advisors sometimes meet with accountants or legal professionals for help.
  • Financial advisors usually meet with established clients at least once a year to update them on potential investments and adjust their financial plan to any life changes—such as marriage, disability, or retirement. Financial advisors also answer clients’ questions regarding changes in benefit plans or the consequences of a change in their jobs or careers.

Working in Banking & Finance in Malaysia

The most high paying salary areas in finance in Malaysia are:

• pension fund management
• life insurance
• investment funds management
• financial institutions.

Banking is also an ideal launching pad for those who are aiming to achieve their ultimate goal of becoming big players. Those who specialise in investment can work as stock and bond brokers, traders and company investment analysts.

What are the Types of Roles in Malaysia’s Banking and Financial Services Sector?

Banking & Finance graduates in Malaysia can work in the many positions found in the banks and financial institutions. Below are a sample list, some are taken from positions posted on Jobstreet.

• Loan officers – personal, home, business, credit card, etc.
• Mortgage officers
• Branch Manager
• Bank Manager
• Bank teller
• Customer Service
• Credit card services
• Credit analyst
• Personal banking
• Investment banking – executive, senior executive, manager, director, assistant VP, VP, Senior VP, Dep. GM, GM, etc
• Equity portfolio analyst
• Personal financial consultant
• Associate – Structured & Banking Products
• Finance Manager (AVP) – Banking Finance and Treasury
• Auditor, International Operations, Treasury, International & Finance, Audit
• Auditor, Project Management Lifecycle & Support, IT Risk & E-Banking, Audit
• Private Wealth Specialist -Preferred Banking
• Associate Principal, Financial Services (Merchants)
• Finance Manager, Taxation and Accounts
• Relationship Manager (Banking)
• VP – Financial System & Operations
• Relationship Manager – Commercial Banking, Corporate Banking, SME Banking, Wholesale Banking, Private Banking, HNW & Affluent Banking, Consumer Banking, Premier Banking Acquisition, etc
• Product Manager, Liabilities & Treasury (SME Banking)
• Senior Executive, Operations & Finance (Fund Management)
• Accounts Supervisor – Finance Casino
• Treasury Executive (Banking Operation)
• Head of Business Planning and Analysis (Consumer Banking)
• Consumer Financial Services Sales Management Programme
• Banking sales specialist
• Investment Counsellor (Priority Banking)
• Finance Manager (Investment / REITS / Property Development)
• Trade Regional Services Head, Regional Trade Banking
• Senior Executive, Network Infrastructure, Global Financial Banking (GFB)
• Account Relationship Manager, Business Banking
• Assistant Vice President, Treasury Sales, Business Banking
• Financial Investment Executive – Futures Derivatives
• Originator, Microfinance, Consumer Finance, Community Financial Services
• Executive – Processing, Auto Finance
• Manager, Product Development & Marketing, Wholesale Banking
• Credit Analyst for Corporate Banking
• Executive, Finance Reporting
• Executive, Disbursement & Documentation, Auto Finance & Asset Based Financing
• Head of Credit Risk, Consumer & SME Banking
• Financial Risk Analyst
• Wealth Consultant, Frontline Support, HNW & Affluent Banking, Community Financial Services

What you can work as in the Finance Industry in Malaysia