8/8/2019 83186_small_3

1/24

20 areers

not worldsYur fnane areer desn have be resred prae r mmere, as aunans wh have

wred n prfessna serves and busness expan student accountant

8/8/2019 83186_small_3

2/24

21

skills transfer

lick here to ott loy t o yo

apart

Jai Ling Gu was educated as aphilosopher, trained with KwanWong Tan & Fong in Shanghai,and then moved into industry

where she is now director of supplychain for Nike China. Laura Iliescutrained with PwC, spent a while as afreelance audit and internal controlconsultant, then joined the globalfinancial institution ING Group, andis now head of financial reporting andcontrol at ING Romania.

As many student accountants will beaware, starting your finance career in

practice, before moving into industry,is not unusual but neither is thereverse approach.

David Halsey did his ACCA trainingwith Colgate Palmolive and Esso,before joining a four-partner firm, andeventually going into practice with hisfather. After qualifying, OlasunkanmiAdewale Ogunyomade worked for theNigeria Police and the Ondo State

Public Service Commission, beforemoving into practice with Adenusi &Co, where he is now financial servicesdirector. Karl George qualified whileworking for an engineering firm,and then tried a brief stint as anaccountancy lecturer, before startinghis own practice, as well as becoming amotivational speaker.

Some accountants even find that

their finance career takes them intomultiple roles in both practice andindustry. Take Andrew Steet. Originallyfrom Malta, the FCCA trained in the

UK and worked in international audit atMobile Oil, then held financial reportingroles across the world for organisationsincluding the retailer Marks & Spencer

and the pharmaceutical group CorangeBoehringer Mannheim. Steet then spenta period as a partner at KPMG, beforere-entering industry with roles at RoyalDutch Shell and Tatweer Dubai LLC,where he is now chief operating officer.

So, although some financeprofessionals (and studentaccountants) focus on one particularenvironment, and stick with it only

ever working in practice, never strayingfrom central or local government, beingdedicated to the not-for profit sector,or steadfastly refusing to considerany opportunity outside businessand industry this does not have tobe the case. Your ACCA studies andprofessional qualification will open thedoor on a world of choice, and it isnever too late to make a change, or too

soon either.

he pprunY praeI started my ACCA training in internalaudit with a large nationwide foodretail and wholesale company based inthe UK, recalls Andrew Chalmers, butwithin a year he was ready to make achange. All of the stores in the retailchain were the same as each other,

he recalls, and this made his workin internal audit rather repetitive,despite the relatively large size of theorganisation, and Chalmers felt that

public practice could offer more. Thelure of a more diverse portfolio andgreater career opportunities took me toDeloitte, he adds.

Once in practice, the work Chalmersbecame involved in was much morevaried, and he stayed with the BigFour firm for five years. I spentthree-and-a-half years based inScotland, working across the UK andin Germany, and then went to workwith Deloitte in the United States for18 months, he says, and althoughChalmers roles were all in internal audit

during his time at Deloitte, there wasplenty to keep him interested and hisstint in the US also involved providingsupport for the external audit team.

But after five years in practice,Chalmers decided it was time to moveback into industry, and leave the USfor Europe. When you are working inpractice you learn a lot and you learn alot quickly, he explains, but you dont

get a really in-depth knowledge of oneorganisation and the way that financefits in throughout the business. Thiswas something that the now qualifiedACCA was keen to explore, so herecently joined the internal audit teamat Gate Gourmet, and relocated toSwitzerland.

Because Chalmers stayed in internalaudit as he moved backwards and

forwards between business andindustry the biggest differences heexperienced were cultural. In the UShe found people a lot more competitive

8/8/2019 83186_small_3

3/24

than he was used to in the UK andother parts of Europe, while his newrole in Switzerland has exposed himto a change in lifestyle and standardof living, and the need to learn anew language. The office languageis English, but I am doing my best tolearn German, says Chalmers, becausehe wants to be able to communicatemore easily outside the workplace.

unexpeed uure shDavid Halsey decided to move from bigbusiness to a small public practice,shortly after qualifying, for personaland professional reasons. The idea ofdealing with several clients appealedto me more than remaining inindustry, he says, and I had a vagueidea that I might go into partnership

with my father, an accountant withhis own small firm. Like Chalmers,Halsey experienced some culturaldifferences, but they had more to dowith organisational structure thangeographical location.

In industry, there was a definedhierarchy for management anddecision-making processes, andvery defined workloads, he recalls,

but within the firm, the (then) newlyqualified ACCA found that the partnerseach had their own vision and theirown way of working, and he hadfour equal bosses. You would havea workload thrown at you for eachone, which made prioritising thingssometimes a political affair as wellas a practical one, he adds, and thelack of a clear hierarchy created other

complications too.Halsey explains: When my fatherpassed away I handed in my notice,to mixed reactions. One partner

insisted that I work my notice as policy.However the second partner told mein no uncertain terms to go homeand look after the family interest. Inindustry, this would have gone up theladder until it reached a single managerwith appropriate authority, and theywould have decided either way. Butthe differences between industry andpractice were nothing compared to

the culture shock of taking over thefamily firm.The move from employment to

self-employment as a small practitioneris one that many accountants make,but being your own boss creates itsown special challenges. The Cityfirm had large clients with limitedpersonal exposure. However as asole practitioner, the deadlines and

demands from clients come thickand fast, he reports. The ability tojuggle workloads becomes vital, andthe personal and the professional canbecome hard to separate, he adds,and you can find yourself beingmessed around by clients in a way thata City firm just wouldnt put up with.

ang a mmera fus

Though not being able to separate thepersonal from the professional can haveadvantages as well as disadvantages,as Cathy Barrow has found, whilesimultaneously juggling a career inpractice and the agricultural industry,where she runs a small farm and alarge contracting business, along withher husband. I trained in practice andhe started the contracting business,

explains the FCCA, who used to routinelyput in a 70-hour week, working for both.Until the kids came along I did

about 45 hours in the firm and 25

hours in the business, she recalls,but her involvement in the practiceand the business has made her betterat both. Being an accountant meantthat I could help my husband to growthe contracting business, she says,by making sure that the necessaryinfrastructure was in place. Barrow says:Introducing computer systems made itmuch easier for him to chase debts and

expand the business, and it now has 18tractors and diggers, and undertakesgroundwork and farm works.

Back at the rural firm, Davisons, herhands-on experience of the world ofagriculture has made Barrow a betteraccountant. If I had worked just asa practitioner I dont think Id havedeveloped the business know-how Ihave, she says, because there are

a lot of practical things you cantunderstand. It is one thing to advisea business on tax and tell clients whatthey should be doing in an ideal world,but as Barrow adds, I know first hand,from running a business, that this isnot an ideal world, and this has madeher very commercially focused whichclients appreciate.

As the firms agricultural manager

I specialise, says the accountant,whose double life as a farmer meansshe has a lot in common with herclients. They like being able to chatto me about things such as muck, theweather, lamb quotas, and a host ofother things I probably wouldnt knowabout if I wasnt also running the familycontracting business, explains Barrow.So, if you find that you are over practice,

unimpressed by industry, or simply wantto try your hand in both, dont be afraidto make the change; they are not as farapart as you might have imagined.

22 areers

8/8/2019 83186_small_3

4/24

SKILLS TRANSFER WHAT DO EMPLOYERS WANT FROM YOU?

Yo aa qlictio o yo oli otio o ic to tk yoc c i y ictio. bt yo c o, o o t

tcicl kol cilit kill yo lo, ill l oly io , o o l i o t ot, il ot loto tl. so i t to ic yo oility t cto o toio o t yo qliy t cti ti yo c ol o.

yo t to k t titio o ctic to ity oo ol kill itl. Yo ill to ok it ol o it icili o

ily i, y s ht, icto it t cilit cit eqity fd, yo to l to coict qlly ll it ll o t. o c i ik o yo y ottil loy o tyo tik lo ot y yo oi, tt to oitioyol ly oil.

eloy lik to tt yo itt i t ty ot i,y a b, o t cilit cit mc b. yo t to

o ot o it ito t i-tc cto o cil ic, o l,it ill l i yo oc o it o tcoloy coi o o cil ic it, y, i: Yo cil toyot y yo t to o ito i, o y ticl yo tyo it o.

iility i lo i i yo t to o ito ctic o ity.cily, yo to l to ott i lot

kill, ot b, ticlly t t o io ll, ol ictic c iictly o cilly i t to i ity. to ll ic t ico co i toy ccott, y, t it i o o t o t jo.

8/8/2019 83186_small_3

5/24

Empower your distance learning experience with our new Online Classroom.

4 Interact with your named tutor online

4 Unique classroom course notes - 1/3 size of regular textbooks

4 Online lectures - review, relearn & retest

4 Access forums and talk to your online classmates - your cohort

Joining the class of the future is easy!

Knowledge module papers for CBE courses start every 4 weeks

Skills & Essentials modules - intensive course booking window 11-25 Sept 2010

www.classofthefuture.co.ukcustomerservices@bpp.com

0845 075 1100

Business Law Business &Management

Finance HumanResources

Accountancy& Tax

Marketing

The Class of the Future now

http://www.classofthefuture.co.uk/mailto:customerservices@bpp.commailto:customerservices@bpp.comhttp://www.classofthefuture.co.uk/

8/8/2019 83186_small_3

6/24

24

challengi

ngcreativ

es

lickhereorJoycehans

profleworkinga

tmediagiant

InterpublicGrou

p

8/8/2019 83186_small_3

7/24

HV YOU V LOOKD T TH LBITI ON THFONT OF MGZIN ND WIHD THT YOU LIFHD BIT MO XITMNT? O WTHD MOVIND PIND FO MO GLMOOU LIFTYL THNTH PTH YOU HV HON MIGHT ON FVLU PNT. F NOT BTH HOLM VL HOWOUNTNY N POVID TH LIFTYL OF THIH ND FMOU

25TUDNT OUNTNT issue 18/2010

accountants

red carpet

You too can have a get in on the action with a fnancecareer in the media. Not only is the sector among the mostdynamic and exciting, but it also provides accountants withgreat opportunities to use their technical skill alongside their

commercial nous.

Typically, the media is represented by is iconic individuals who otenhead up global brands; the imon owells, ichard Bransons andupert Murdochs o the world. But behind the headline-grabbing

stars, there are thousands o companies big and small in all manydierent areas that combine to create a thriving media industry. Theseinclude broadcasting, publishing, new media, advertising, marketingand P.

What type of Work is there?

Traditionally, the fnance unctions within media companies havesupported the business by providing core accounting services such as

accounts payable, payroll, credit control, management accounting andclient accounting.

8/8/2019 83186_small_3

8/24

Over the past 12 months there has been a signifcant increase in the demand orcommercial accounting skills such as commercial analysts who support the businessin terms o developing more sophisticated reporting tools such as WIP (Work inProgress) tracking, assisting with the bid and tender process or new work, andtrying to add value internally and externally. nd i you work your way to the top,you really do become invaluable to your showbiz clients.

David Blacher is a partner at Baker Tilly and heads up the frms media group. I lookater all [the clients] advisory needs, he says, rom corporate tax issues to personalfnance. They need a lot o hand holding and or me thats a key motivation. We arebusiness advisors.

o, i you really do believe that there is no business like show business, how can youget a oot on the ladder o a career in media fnance?

Theres no replacement or a solid technical accounting base, says ebeccaharp, a consultant on the Media Finance Division at Badenoch & lark. Mediasector experience is also a key or businesses looking to hire with over 50% onew requirements registered in the past 12 months with candidates with previousknowledge o the industry.

I you are thinking o entering the sector it may be an idea to do some voluntary

work experience within a media company as this can help you stand out rom thecrowd, suggests ichard Jaye, manager at Hays ccountancy & Finance.

Other key skills preerred by media employers include an in-depth knowledgeo media-specifc packages such as ebus Paprika and advanced excel skills, inaddition to experience o budgeting, re-orecasting, multi-currency work, WIPand billings. Many media organisations may have partner companies within theirgroup so evidence o intercompany work is also a plus. In general, accounting

practices are quite similar across most industries and having a strong technicalbase partnered with a proessional qualifcation is highly recommended as a strongstarting point, he advises.

Creative differenCes?

O course, one o the draws o working in the media is also one o the greatchallenges o the work. Dealing with media types; everyone rom uber cool admen, to brusque Ps, all the way up to the talent. ter all, even Lady Gaga has an

accountant.

The creatives will oten have dierent priorities in terms o improving the clientrelationship, delivering a high level o work trying to see the bigger picture. Thefnance sta need to be able to empathise with this but still provide a check andbalance to this to ensure that in these difcult economic times the business is stilldelivering to the bottom line. In addition, patience and team work are essential ortheir success, says harp.

You need to have an understanding o people, adds Blacher. The common themeis that the clients dont tend to have sophisticated fnance unctions. They prioritisecreativity. It can be rustrating but its the challenge and the un. More traditional

8/8/2019 83186_small_3

9/24

manuacturing clients would be working with a proft incentive but the vast majorityo the owner-managed, mid-market media companies are driven by the love o thework frst and oremost. They can be temperamental. Our challenge is how not tocome across as a boring accountant.

One o the sacrifces you may have to make i you choose a media career is thatremuneration still lags behind other sectors, such as fnancial services.

However the gap is narrowing, claims harp, particularly as the lack o strongcommercial acumen among many o the candidates in the sector drives upsalaries.

It is important to note, continues Jaye, that there is a lot o uctuation between

companies; larger media conglomerates may oer more competitive salaries inaddition to structured benefts and study packages. maller media companiesmay not be able to match these salaries or oer time o or study i there is onlyone or two in the account team. Working within a smaller company oten oersnon-fnancial benefts, such as a more relaxed environment and exibility regardingworking hours.

There are also antastic opportunities or those who have taken a less traditional

approach to their fnance careers. Baker Tilly has a huge graduate programmebut, says Blacher, is also looking or bright non graduates. Were trying to mix itup, and getting people who, perhaps are studying or an accounting technicianqualifcation. There are real opportunities or good quality school leavers, and ithelps us broaden our horizons as well.

Baker Tilly is an independent member o Baker Tilly International, a network o147 high quality, independent accountancy and business services frms across 114

countries in the mericas, sia Pacifc, urope, the Middle ast & rica.

reCession impaCt

s with every other industry across the globe, the media sector has been hit by therecession.

Media has been hardest hit in the recession, believes Blacher. Its hit each o thekey strands o our work; TV production houses have had their budgets slashed,

advertisers have seen spending cuts.

People have had to make hard decisions. But I think its now bottomed out andit wont get any worse. ll businesses have realigned and improved and therecession did get rid o a lot o dead wood.

Less companies does not necessarily equate to less jobs either. s the UKeconomy let recession in Q1 2010, hiring reezes have been lited and many core

roles that were let understaed have been replaced. The transition rom printmedia to online content has seen contraction and expansion accordingly, saysharp. Many o our clients have been ocusing on ways to make efciencies within

8/8/2019 83186_small_3

10/24

their business and a number o project sta have been used to acilitate this. Inlarger organisations we have seen the introduction o some shared service centreswhich has maintained a steady job ow.

There remains ferce competition or jobs within the larger media organisations,

adds Jaye. o i you think youve got what it takes, why not consider a career in thespotlight? s harp concludes: Genuine enthusiasm and a sense o humour go along way to securing the dream job.

8/8/2019 83186_small_3

11/24

Challenging Creatives

Joyce han qualifed as an in 1995 ater graduating rom the HongKong polytechnic. he worked at Deloitte or our years and then euters or

seven years ollowed by a stint at T&T.

ter applying through Michael Page International, she is now in chargeo the reporting requirements in sia Pacifc at global media giant IPG(Interpublic Group) and is based in Hong Kong.

IPG is a global provider o advertising and marketing services with revenuesin 2009 o $6 billion (4bn). With 40,000 employees worldwide and ofces

in over 100 countries, it specialises in consumer advertising, interactivemarketing, media planning and buying and public relations.

Its complex work because we have a lots o brands, we need all theagencies to submit monthly reporting fgures which we then consolidate andcomment on uctuations. We discuss the all the fnancial issues, and presentour report to the board.

Joyce agrees that working with creatives can present challenges. There is anego and recognition issue, she says. You have to give them the right credit.Its one o the challenges. We are doing everything by the book. The rontline people are not into rules and regulations, In act oten they are tryingto break the rules. Youve got to be very strong and understand when tocompromise and when to exercise your discretion.

The rewards, though, are more than fnancial. When you see the [companys]

work, on TV, on an advert, you eel proud. People look at it, and they havean opinion abut it too. s accountants you would not get that in any otherenvironment. It gives you a dierent perspective.

8/8/2019 83186_small_3

12/24

26 areers

We mes areers aay, es sremea m?

accountants

outsourcing

case study: iBM scc, Malaysialick r to fnd out how

Bm hd vic cnt uppotngnt in th gion

case study: diageolick r to fnd out how th

globl dink gint hd viccnt w tnod

case study: shelln ix in loction, click r

to fnd out o bout thshll Buin svic nt

8/8/2019 83186_small_3

13/24

27

Mn uv hv hown th tionl bhinduing ith hd vic cnt ooutoucd unction to ipov buinpoc. n it 2010 uv o globl chi

fnncil ofc, h w Vlu ntgto, tchnologgint Bm ound tht th u o ltntiv dliv odl,uch hd vic cnt o outoucing, o fnnciltnction pocing i 69% o coon in fcintfnnc ognition thn thi countpt.

Wh th pojct hv bn uccul, th will b builtupon. accntu, in it 2009 viw o globl hd vic,achiving high ponc though hd vic: lono th t, ound tht vn out o 10 pondntwith hd vic cnt (ss) plnnd to xpnd thgogphic covg o thi ss within th nxt th.

Contnue to suCCeedBut thi pot highlightd othing tht nd tob contntl ddd i th buin poc outoucing(BP) nd ss ovnt i to continu to uccd. t id:shd vic cnt c nub o chllng onc thigtion ov, including tbiliing th vic t thgo-liv dt, tblihing vic cultu quickl, ctingcoplling hd vic c pth nd buildingcontinuou ipovnt with til ult, gdl ohow th xtnl nvionnt chng.

n oth wod, ss nd outouc nd to invt in thipopl i bnft to continu to ccu to thi pntognition. at th ti, th i cl vidnc tht outoucing nd ss tu, th lvl o wok cid out

in th cnt will hit up th vlu chin o tht o

> ReAd MoRe

min pictu: globl dink gint igo hofc woldwid, including it hdqut in London

8/8/2019 83186_small_3

14/24

copni will u th o high-vlu, knowldg-bd poc. hi pntboth chllng nd n oppotunit o tho woking in uch nvionnt.

a michl obtt, chin o th ntntionl aocition o utoucingPoionl (aP), : opni outoucing to do o thn cut cotbut to dd vlu, inc buin xibilit nd pp o utu gowth.

h aP h ound tht knowldg-bd outoucing i bcoing oipotnt to copni, nd th indut i flling thi dnd. n both th utuno 2009 nd Jnu 2010, in uv o it b, o thn 40% indictdtht outoucing t thi ognition w incingl ocud on knowldg-bd ctiviti, copd with l thn 30% who id th w incingth outoucing o low-kill-lvl poition. agubl, th fnnc unction,

ith outoucd o in ss, onho, n-ho o oho, hould ld thiovnt, o it i o ipotnt thn v to ocu on popl pct.

h , o cou, ocio-conoic ct o ss nd outoucing hub. mnciti hv bnftd o poviding th t o th vic, njoing conoicpopit.

a ick atkin, Picwthouoop ptn in fnnc buin vic, :

h i ignifcnt ct, nd it i dint b gion. n cntl nd tneuop, ou tditionl univit town with gowing popultion o tudntwho o lignd to BP o woking in ss. you lo th inux odivit into th citi, wh clint wnt to hv euopn lngug kill.atkin cit xpl Pgu, Budpt nd Kkow, wh fnncill littpoionl hv igtd, woking nd tting up ho th.

owv, dpit thi inux nd th vilbilit o locl tlnt, th i till

hotg o uitbl qulifd ccountnt to c out o o th high-ndunction tht ss nd outoucd unction looking to dliv. pwdpu on li, nd tho cot, ollow.

h to chng in ndi, atkin , wh th cl o th popultion ntht tho ot o kill o dil vilbl. Lg BP ognition woking with univiti o two bo tudnt gdut to tin thin fnncil ngnt, nd to povid uppot o tlntd popl. h will

pono th though th ltt tg o univit o th go to wok o th liko no, Wipo o Gnpc.

But tht id, atkin obv tht ll good, wll-qulifd ccountnt tillhot popt. BP povid nd thi clint dont wnt to giv up individul vdil o tho th pic go up, ttition t go up, nd th cn cupobl o BP povid nd hd vic.

> ReAd MoRe> BACK to MAn ARtCLe

8/8/2019 83186_small_3

15/24

hi vi, nging dicto o igo Buin svic th fnncil hdvic cnt o th dink gint, bd in Budpt, ung h n fthnd th ct th ipovd fnncil cpbiliti cn hv in pticul loction,nd how tht cn b o bnft to tht loction. now gu tht cot i notth diving cto in locting BP ognition o ss in Budpt. ung itting to gt out o th tp o wg bitg; it now copt on th qulit oth lbou pool, h .

out of sght?h i till concn tht onc pt, i not ot, o th fnnc unction iovd out o th co option nd into ith ss o outoucd ntil,thn it bco out o ight, out o ind tining nd continuing poionldvlopnt could ll b th wid, c tlld, nd oppotuniti toov bck into th cntl ognition will b liitd, i not non-xitnt.

ot o, Jcki Gittin, popl nd chng dicto t Pw. h lgognition doing lot o thing vitull. Gittin dd tht pog cn bonitod though t uv ot high-poing ognition will c outuv t lt onc . enggnt i ll ipotnt; high nggntdiv vlu to th buin, h gu. n oth wod, tho tht ppdto invt in thi popl will p th bnft. popl l th not bing

dvlopd, cochd o givn oppotuniti th uull o. kingwht i hppning in th buin, wht th think o th fnnc unction, Gittin.

nCReAsed vALueGlobl obilit i nub o iu. h i no doubt tht th outoucingovnt h opnd up oppotuniti tht pvioul did not xit opoionl in ging conoi. a vi : m junio t hugl

ought t nd in dnd ll ound th wold. But h dd tht t onio lvl, popl ight b t dint tg in thi liv. and h lobliv tht th ldhip kill tht quid o o nio poionlight not b fnl tund th could b.

mik tn out d Lng, shll hun ouc ng o fnncoption, it ight not b nc to tvl to gt intntionl xpinc:h i n lnt o incd globl xpou o fnnc poionl, but

w tp into locl tlnt kt, which i on o th div o oving into hdvic nvionnt. n ttctiv pt o th fnnc poionl i tht oncn gin xpinc in dint induti in o globl nd vitul nvionntthn in th pt.

> ReAd MoRe> BACK to MAn ARtCLe

8/8/2019 83186_small_3

16/24

gLoBAL envRonMent collgu, Kthik slvj, in hnni, ndi, g: t h incd thxpou o popl to wok in globl nvionnt bcu th intc withglobl, ultintionl, ulticultul cuto, but th on wh th ightnot b oppotuniti [o phicl obilit] i tht ctiviti igting to cntlid, conolidtd shll Buin svic nt nvionnt. Job gtting don in w loction. But th xpou i tndou.

n t o th ipotnc o woking with n outoucd unction nd ss pt o c dvlopnt, tn out d Lng i cl. sh : h ou dinion o xpinc wll-oundd fnnc poionl qui h,cting both th bdth nd th dpth o xpinc. h : poionl,buin, ldhip nd tkhold ngnt xpinc. h popl ththv th bt potntil to bco utu ld in th ognition hould hvxpinc both in th option nvionnt in hd vic wll in thbuin nd in th cntl unction.

Pilip smi, jrali

> BACK to MAn ARtCLe

8/8/2019 83186_small_3

17/24

CAse study: BM sCC, MALAysAJon ion i th ng o blnc ht ccounting in th ai Pcifcaccounting nt t Bm in Bnd t, mli. h hd viccnt (ss) povid cntlid ccounting vic nd uppot to Bmld, nd ngnt in th gion. th uppotd includsbn xl coplinc, buin contol nd fnncil t uppot.

nub o c pttn ging in th hd vicnvionnt: innc ss ld th piplin o intnl k fnncilldhip poition uch contoll nd . h ld lo oth tlnt pool o cuit o ldhip o tt-up o gowth-tg

fnnc ss.

picll, fnnc poionl cn xpct to ott btwn ol t tpc thn nol, vging btwn on nd on nd hl in onol. h incdibl oppotuniti o poionl to wok in-houin ss du to th incd coplxit o wok tht gt cntlidinto th fnnc ss, h , dding: hi i copoundd b incdldhip nd ngnt oppotuniti tht povid upwd obilit o

individul.

ion fnnc poionl hv th option to puu c inoth ss within th ognition o vn in non-ss unction. hi cpth xibilit pl k ol in nuing vit o oppotuniti nd ingd vi piodic plo dvlopnt nd c dicuion.

Piodic job ottion with cl dvlopntl gol quid to

tin tlnt within th ss, ion . hi includ c odpto nbl plo to cht thi own cou within nd outid thss. spcifc tining quint dtind t ch lvl within thodp to t pogiv poionl dvlopnt o th individulplo. a iniu nub o tining hou i dtind ndbddd within th job quint. ining lo cov ngntnd ldhip kill, togth with buin cun nd intgit.

ion ppcit th bdth nd dpth tht woking in ss cn givto fnnc poionl. t llow ou to dvlop poc xpti ndcop nd contt pctic co viou counti nd gion. you xpod to nd tk with ou th bt pctic tht hv bndvlopd nd lw xpctd to uth fn th poc in odto chiv optiition, which i k kill n individul gn owoking in ss. t i quid within globl ognition in th pnt dnd lo o th utu.

> BACK to MAn ARtCLe

8/8/2019 83186_small_3

18/24

CAse study: sheLLGlobl ng nd ptochicl copn rol utch shll plo 101,000 popl in o thn90 counti nd titoi. th, 10% in th goup fnnc unction, with lot hl wokingin fnnc option un out o shll Buin svic nt (sBs) woldwid.

h sBs bd in ix in loction Glgow in th K, Kkow in Polnd, Kul Lupu inmli, hnni in ndi nd mnil in th Philippin, nd p own in south aic. h joito fnnc option popl bd in hnni nd mnil. innc option cov widng o ctiviti, o tnctionl poc uch ccount pbl nd civbl, thoughpoting poc nd dt ngnt up to ngnt-inotion vic.

W continull ipoving th qulit, ctivn nd fcinc o ou option to whtw cll wold-cl fnnc. o do thi w nd th ight popl with th ight kill woking in oucnt, mik tn out d Lng, shll un rouc ng ofnnc option.

n t o c pogion, tn out d Lng collgu, Kthik slvj, bd in hnni,ndi, : h cnt o vit o ol, tting o tnctionl ctiviti to high-nd wok,tho ou could tt woking in ccount pbl nd thn pog high up th vlu chin,

o intnc into ngnt poting ctiviti. h i coplt lning nd dvlopntpog o fnnc t, which includ on-th-job tining nd ltl ov o on poc to noth.

st ncougd to tk intntionll cognid qulifction, uch tho od b aand th htd ntitut o mngnt accountnt (ma) - uch qulifction cn hlp thto ov up th vlu chin.

n out d Lng cknowldg tht whil th opt in n nvionnt tht h hightunov o t, h bliv tht th tunov o t in th sBs cop voubl with tht inoutoucd option. o nu tht top tlnt i tind nd good tntion t chivd,tuctud tlnt dvlopnt, pogion oppotuniti, ont nd non-ont untion,lning oppotuniti nd poionl ccdittion nd dvlopnt, in plc.

W hv dvlopd coptnc pofl o ol in fnnc option, tn out d Lng.all t hv th oppotunit, togth with thi lin ng, to viw wh th in t

o thi coptnc nt. hi contin both fnncil poionl qulifction wll ldhip nd ponl buin coptnci. h i fnnc option lning cuiculu,with both c-to-c cou nd vitul pog to nbl fnnc option t todvlop thlv.

> BACK to MAn ARtCLe

8/8/2019 83186_small_3

19/24

CAse study: dAgeoigo hd vic cnt (ss) in Budpt, ung, h volvd o bing tnctionl-bd unction to on cpbl o dliving high-lvl nd high-vlu fnncil victhoughout th globl dink gint woldwid ntwok. n doing o, it i hlping to ct highlkilld nd obil fnncil wokoc in ung, d to do buin ound th wold.

W hv lg cptiv cnt h in Budpt tht w opnd towd th nd o 2001, xplinhi vi, nging dicto o igo Buin svic. W w on o th ft ss in thcount, nd now plo 700 popl. about th go w xtndd to n outoucd dlivcnt in mnil nd ll cnt in shnghi, Bucht nd Pgu, piil o lngug thtcnt b ccoodtd out o mnil.

Bs piil h fnnc vic in Budpt od to ch, pocu to p, cod to pot.But thn it lo hou th tu, dict nd indict tx, ttuto ccounting nd bod lvlpoting unction.

n nuthll, w wnt to gt uch k n into hd vic, but put it in th ightplc, vi . anthing tht w cn tnddi nd cl i loctd in mnil, wh w gt 40% l bitg. Wh it qui o cuto contct, nunc nd xibilit w loct it in

Budpt ctivl upkilling th wokoc h.

n ct, th goup fnnc unction i lot ntil bd in th ungin cpitl, with onl coupl o nio poition ining in London. a vi , thi h o v ignifcntipliction o both ovnt nd cuitnt nd cn ct hug oppotuniti. soon cn

join u out o collg in n ccount pocing ol, dvlop thi ovll buin kill, pick upo ccounting tining, ov co into fnncil plnning nd poting ol, nd thn coov into kt-cing ol.

so it ll ct o obilit, h . h i lot o zigzgging up nd though th tuctu;thi i on o ou l tntion cto w hv th dicto h who joind t goot lvlin 2002.

vi whil th i hndul o popl o Bzil nd th thlnd o lngug pupo,th lion h o hi t ungin. h vg g i 27, high thn it onc w, Bs htkn out th tnctionl ol nd put in o ttgic ol. W cuiting w gdut

nd hiing o xpincd poionl, but w till cuiting t ll lvl, h .

a in oth counti, lg ount o ccountnc tining tk plc in th Big ou f.But vi bnft to th wid wokoc b cuiting th plo: Bcu w incingl cuiting t tht hv wokd in th f, th hving to cuit nd tin o.But w ctinl kp up with ou t tining, w invt in kping popl cunt.

> BACK to MAn ARtCLe

28 areers

8/8/2019 83186_small_3

20/24

28 areers

HsB sINGaPOres aNTHONY KaM FaITes HONesTY aND INTeGrITY as THe KeYPersONaL VaLUes WHIH aN HeLP HIeFFINaNIaL OFFIers MeeT THe INreasINGLYTOUGH DeMaNDs OF THeIr JOBs

codeofhonour

AccA to cfo

lick ere to fnd out boutanthony ccomplihmnt

Although anthony Km, chi fnncil ofc (FO) o HsBsingpo, h hi y fmly ocud on th bnk blncht nd fnncil option, h i dling with mo thn

jut numb in pon to th globl fnncil downtun. Hcit uccion plnning nd t dvlopmnt qully impotntiu, which om pt o th Bitih bnk gowth gnd o th utu.

With th wold conomic cnt o gvity hiting to ai, HsB, lik

p uch JPMogn, h bn woking on it gionl ttgy.

ounting on ai Pcifc mkt to div gt gowth, HsB ilding tnd to loct chi xcutiv om thi hom b inLondon to th vibnt bnking cn o Hong Kong nd singpo.

HsB singpo option ky to it option in ai Pcifc,long with it Hong Kong gionl hub. Km point to th bnk

nnul ult, which how tht singpo i on o th mot poftbl in th HsB Goup, with p-tx poft o Us$542m (s$s740m).

H w pviouly county mng o th Hng sng Bnk (singpobnch), ubidiy o th HsB Goup. Fit ppointd FO in2005, Km cuntly ov ll fnnc-ltd ctiviti, includingxtnl ttutoy poting nd contol wll govnnc on thccounting nd poting poc, mngmnt inomtion, t nd

libility mngmnt, tuy fnnc, option nd contol nd tx.

> READ MORE

r t t d i th b ki d f i l i h dd d

8/8/2019 83186_small_3

21/24

rcnt tnd in th bnking nd fnncil vic pc hv ddd nw dimnion to th ttgic nd incingly multictd olo th FO tody. No long jut numb cunch, th FO nowpovid inight nd oight on iu lting to cpitl gowth,vnu, cot tnd nd liquidity, mid th pid chng in thconomic nd gultoy nvionmnt, y Km.

a fm bliv in fnnc bing clo ptn to buin, tnd lo n in mny oth cto th dy, Km choth thought o mny FO. H i no long n obv ogultion, plying gtkp ol, but tutd buindvi to th bnk mngmnt bod, chi xcutiv ofcnd viou buin unit.

Km bliv tht vlu undmntl to th ol o th FOin tody wold, pcilly fnncil contoll nd FO wilduch tmndou inunc in ognition, otn plying thol o ky ttgit, wll pivotl dciion-mk. H ygood FO mut hv tong ponl vlu uch honty,intgity nd th motivtion to lwy do th ight thing.

OppORtutEs fOR ROwtha ccounting tndd t bcoming mo complx withmny chng in gultoy, govnnc nd tndd-ltdiu, Km bliv mny mo oppotuniti xit o th FOto ln nd gow.

ting n y on induty tnd, h y: W will dfnitly mo gultion, which will hv ignifcnt impct onhow th buin o bnk i un. Th FO ply citicl olin thi, pticully in dviing th buin on th implictiono uch chng nd hlping th buin to ocu on doing thight thing.

In th cunt conomic climt, wh covy i cutioulynticiptd, Km lo mo chng pcifclly lting toth fnnc unction.

REulAtO AD REsOuRcEsa coupl o pticul not. H y: Th two thingtht impotnt to m nd thy both cloly ltd. Thft i nuing w ully ppd o th ltt nd upcomingchng in gultoy quimnt nd ccounting tndd, inpticul th Bl popol on cpitl nd liquidity nd th Ias39 plcmnt pojct.

> READ MORE> BAcK tO MA ARtclE

Th cond i to mk u w dqutly oucd to cop

8/8/2019 83186_small_3

22/24

Th cond i to mk u w dqutly oucd to copwith th chllng hd. I o th will b mo gultoynd ccounting ul chng going owd nd thi will mnmo tio, limit, diclou nd poting quimnt. a ult, fnnc tlnt will b in hot dmnd in th coming y.

rcogniing tht ai pid conomic gowth h givni to gt comptition om ound th gion o tlnt,HsB plc tong mphi on t nggmnt, cdvlopmnt nd tlnt mngmnt.

[Finnc i] ocud on bing poionl, ctiv ndponiv unction to ll ou cutom, intnl nd xtnl,nd thi i fmly lignd to th bnk ocu on vicxcllnc, h y. Loclly, thi mn tht my top pioity i thpopl gnd to nu w hv ully nggd nd killdfnnc wokoc.

Km pnd much o hi tim looking t popl-ocud iu,uch uccion plnning nd t dvlopmnt. On o hivouit nd poibly mot wding tk i oving thfnnc gdut dvlopmnt pogmm. Thi i igooutining pogmm tht im to ttct, lct nd nutuhigh-clib fnnc poionl to gow th bnk option.

Thi chm i in lin with singpo gol o bcoming fnncil hub o th gion, nd it ocu on building th fnncilvic cto.

AAlytcAl thKKm i wll w tht h too h bnftd om oppotunititht hlpd hi poionl gowth. stting tin dlt HsB Hong Kong, h cdit hi tining cinc gdut bing pivotl in cultivting hi numicl bility nd nlyticlthinking. H dd tht th tchnicl knowldg cquid ombing hond in th ccounting diciplin h lo bn invlubl.Km h bn mmb o aa inc sptmb 2000 nd yhi mmbhip h gtly hlpd him in hi c.

a cinc gdut mjoing in phyic, th aaQulifction nbld m to cqui th ncy tchniclknowldg tht w intumntl in my c dvlopmnt.Without it I poibly would not hv hd th tchniclcomptnc to ctivly xcut my li ol t Hng sngBnk nd my cunt poition in HsB, h y.

> READ MORE> BAcK tO MA ARtclE

Howv Km lo cll tht th oppotuniti givn to him

8/8/2019 83186_small_3

23/24

Howv, Km lo cll tht th oppotuniti givn to himwhn h cm to singpo in 1990, jut th bnking ctobgn to ouih, hlpd uth hi c. It [mut hv bn]th bt momnt in my c, tting up th Hng sng Bnkoption in singpo, it w nttic lning xpinc,pticully inc I hd no pio xpinc o tting up ounning compny, hving bn dl o ov 12 y t thttim, h y.

lOOK fORwARDsOiginlly Hong Kong citizn, Km lo cdit hi childhoodo giving him uniqu ppctiv on li. a th youngt childin big mily, I hv lwy hd to look t thing om dintngl nd viwpoint, nd hv hd to put myl in ombodyl ho. Hving lnt to do thi om youth, I hv continudto pply thi lning in both my ponl nd wok li thoughth y, nd tht i how I hv mngd to gin tut ndpct om ll th popl I hv wokd with.

so wht i hi wok philoophy? In dling with popl, you ndto hv vy tong ponl vlu nd b ully comptnt inyou in od to gin pct nd tut om th popl youwok with. Building tut with you tkhold nd buinptn i citicl, y Km. H lo l tht it i impotnt toocu on th utu, intd o looking bck nd thinking o thwht i.

and hi vt tlnt uch pychologicl tngth nd gility, wll ttgic thinking, coupld with mud xcution mn tht, in kping with thi ocu, th bt i no doubt ytto com.

ying pa, jornai

> BAcK tO MA ARtclE

8/8/2019 83186_small_3

24/24

AthOys stORyanthony Km, 49, gdutd with Bsc in phyic om th Univity oHong Kong, nd toppd hi cl in singpo with n Ma in pplid fnncom Mcqui Univity in sydny, autli.

H thn wnt on to gt hi Fa qulifction nd aa in 2000, winningth singpo Gold mdl nd chiving th hight mk woldwid inmngil fnnc nd fnncil ttgy. Hi c ccomplihmntinclud tting up Hng sng at Mngmnt option dictond gnl mng nd thn Hng sng Bnk singpo bnchoption it county mng.

H h bn with HsB in hi cunt ol o FO, oving it singpofnnc unction, inc sptmb 2005. Lik mny poionl, hivouit ptim i gol. Plying th gm h lo givn him uul ctip. On thing I lnt, which I l cn b pplid not jut to th wokplc,but to lmot ny itution, i tht on nd to contol on motion inod to ply th gm wll. so likwi, w nd to kp ou motion inchck i w wnt to xcl.

> BAcK tO MA ARtclE