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Embarking on a journey in finance opens doors to a dynamic and ever-evolving world where the art of managing money meets the science of making informed decisions. A finance major is not just about numbers; it is the gateway to understanding the intricate web of economic systems, investment strategies, and the fundamental principles that drive financial markets.
The finance major offers a diverse range of specializations, from corporate finance and investment banking to financial planning and risk management. It cultivates a deep understanding of financial instruments, market dynamics, and the regulatory frameworks that shape the financial landscape. Beyond the technical skills, students also develop critical thinking and problem-solving abilities essential for addressing real-world financial challenges.
To give more insights on the world of finance, Business Career Development Committee (BizCare) invited speakers Rena Kwok, credit analyst at Bloomberg Intelligence, Ka-ming Lim, CEO at MoneyFitt and ex-JPM, Yulhee Lee, COO at Kiara Advisors Pte.Ltd and Charlene Chye, Finance manager(Investments and Opex) at Microsoft to share their experiences.
Yulhee started the discussion by sharing how he started his career as an investment banker in a Korean local investment bank where he encountered the Korean financial crisis 2 years later, followed by restructuring of the Korean economy and lost confidence in the Korean market. Later in his career, Yulhee progressed to be Head of International Finance then onto Head of Overseas Business Development, gaining experience in various financial markets including China, before moving to Singapore 10 years ago to be the COO of the Singapore investment arm.
Rena then shared on her role as a credit analyst at Bloomberg where she pointed out that the gist of a credit analyst is to ensure that creditors get their returns and compensations. Credit analysts deal heavily with the business, to ensure business decisions made are low risk, to prevent systematic risk and to take immediate action to minimize loss during the financial crisis. Credit analysts follow the Basel regulation, assess the loan company on its formality, culture, type of product, technology level to understand the risk. Credit research encompasses macro, fundamentals, technicals and valuation to understand the profitability and sustainability of the company. She gave an interactive example, likening the process of buying bonds to buying cars in Singapore, going through the fundamentals, technicals and various considerations of both processes.
Ka-ming Lim started his career at Schroders before the economic crash in 1987. He garnered vast experiences from stints at Paribas, Credit Suisse, JP Morgan and attaining the prestigious MBA while in New York before co-founding MoneyFitt. With the arduous challenges he faced in his career, Ka-ming recommended students to keep learning, reinventing and upskilling themselves. He emphasized that we should not be idealists, should not ingratiate or subvert their colleagues. Finance is about being smart, to make things happen, to manage out, to be present, visible and heard. He shared his favorite quote by Charlie Munger, “Give me the incentive and I'll give you the outcome” to explain how people should find the right incentive to motivate workers in being productive.
Lastly, Charlene had a unique career path, as an ex-NUS Business student, she participated in case competitions and landed her first job at P&G. Charlene then moved on from FMCG to the tech industry with a stint at Binance before progressing to Microsoft where she currently works as an Investment and OPEX Controller. She encouraged students to take part in various case competitions to gain a better understanding of the company. Charlene shared that being in the finance department, one has to understand the requirements of different departments, value add and integrate it into a financial model which achieves lowest cost.
With the launch of Artificial Intelligence(AI) like ChatGPT and Microsoft Copilot that can generate ideas and handle administrative work like taking meeting minutes and drafting emails, AI has made its mark, further penetrating our daily lives. Our speakers agreed that AI will play an important role in shaping the finance industry. However, Ka-ming echoed the importance of human contact in business settings and also the strategic inputs and decision making abilities that AI lacks. Yulhee also envisioned that the financial regulatory frameworks to protect investors will be improved on and reshape the financial industry.
In closing, our speakers encouraged students to be confident, to speak up and to train their ability to think fast on the spot so as to differentiate themselves from other candidates. Being able to talk widely and have a positive attitude towards criticism is what makes one adaptable and competent in the industry.
Here is the slide deck for the event: Navigating the Financial Horizon
Post-Panel Opinions from Students
“As an exchange student, it is very enriching to know the different perspectives of people and hear their experience in the field that I am majoring in. It is also very beneficial to be able to network with the speakers after the event.”
~ Iris, Y3
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