Study Banking & Finance at Top Universities in Malaysia
Worldwide, the financial services sector records the highest earnings and drives a country’s economic growth.
- Bank Negara Malaysia
The financial services sector contributed 11.6% to the real gross domestic product in Malaysia last year, according to the annual report of the Economic Transformation Programme (ETP) released earlier this year.
In the same report, it is mentioned that the proposed development of this sector will take on a holistic approach that encompasses both financial institutions and financial markets.
By 2020, the financial services sector is projected to raise the gross national income from RM121.5 bil to RM180.2 bil and create 275,400 new jobs, as highlighted in the annual report.
“Currently, there are less than two million tax payers out of approximately a 12 million workforce.
“As we become a high-income nation with a projected 15 million workforce, more people will be paying taxes.
“Where are we going to find that many experts to handle the taxes?”
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What is Finance?
Finance is a dynamic and ever-changing field that involves the evaluation of alternative choice investments, the monitoring of performance and the management of funds.
It uses, analyses and interprets data from companies’ operations, business units and accountants to make critical decisions on the companies’ day-to-day activities, investments, financing and risk management.
Finance plays an important role in almost all areas of business management and involves corporate strategy, marketing management, the design of reward packages, control and operations management. Therefore, studying
finance is a must to all business students at university level.
The field of finance is dynamic and constantly changing to suit the needs of individuals, firms, financial institutions and the government sector.
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A course in finance can be divided into 3 areas which are:
- corporate finance
- investment
- financial derivatives
Corporate finance looks at how investment and financing decisions are made from the perspective of a corporate decision maker. The investment module is designed to develop an understanding of institutional structures, fundamental concepts of financial securities valuation in financial markets and the performance evaluation of fund managers. The derivative securities module is designed to develop an understanding of risk management conducted by portfolio managers.
What do Banking & Finance Professionals work as in Malaysia?
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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 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.
- Public Bank
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 oversee the firm’s issuance of credit, establishing credit-rating criteria, determining credit ceilings, and monitoring the collections of past-due accounts.
Cash managers 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 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.
Financial institutions—such as commercial banks, savings and loan associations, and mortgage and finance companies—employ additional financial managers who oversee various functions, such as lending, trusts, mortgages, and investments, or programs, including sales, operations, or electronic financial services. These managers may solicit business, authorize loans, and direct the investment of funds, always adhering to Federal and State laws and regulations.
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 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 governmentappropriations 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.
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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 provide analysis and guidance to businesses and individuals in making
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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
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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
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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 assess the financial needs of individuals. Advisors use their knowledge of investments, tax laws,
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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
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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.
Financial planners must educate their clients about risks and various possible scenarios so that the clients don’t harbor unrealistic expectations.
Most personal financial advisors buy and sell financial products, such as securities and life insurance. Fees and commissions from the purchase and sale of securities and life insurance plans are one of the major sources of income for most personal financial advisors.
What you will study at a top course in Banking & Finance in Malaysia?
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Those who intend to undertake finance should expect challenges particularly in the form of financial theories and formulas.
However, these can be overcome by a good understanding of Mathematics to start off with - Additional Mathematics will be an added advantage.
Business graduates who specialise in finance will be acquainted with the necessary skills in critical thinking, problem solving, leadership and interpersonal communication and computing.
They will also deal with asset valuation, financial asset pricing, financial modeling using spread sheet techniques and capital budgeting decisions and risk management.
Though a finance course followed by a finance career involves a long and arduous quest, there is usually a pot of gold at the end of the rainbow and it’s very much worth a lifetime’s journey.
Working in finance in Malaysia
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Chun Khin, Finance degree at HELP University
The most lucrative areas in finance 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.
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)
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- 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
Job prospects for Banking & Finance Graduates in Malaysia
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In today’s ever-changing world, finance graduates are highly sought-after in a cross-section of industries which each offer a variety of job opportunities.
Therefore, having a finance qualification can lead to a rewarding career. A fast-track career in finance depends on a good understanding of market movements and the diverse investment market.
There are banks, investment, insurance and financial institutions everywhere and in small towns as well.
You can work in the many positions as stated above in places like Maybank, HSBC, Standard & Chartered, Hong Leong, Public Bank, Public Mutual, OCBC, AmBank, Aeon, CIMB, Prudential, Great Eastern and more. If you want to work in the exciting world of investment, Bank Negara has listed 15 investment banks in Malaysia such as HwangDBS, Affin Investment Bank, AmInvestment Bank, CIMB Investment Bank, ECM Libra Investment, Hong Leong Investment Bank, OSK Investment Bank, RHB Investment Bank and more.
Banking & Finance Jobs are in Demand in Malaysia
Multimedia Super Corridor (MSC) Malaysia is estimated to provide 50,000 total jobs and MYR$ 5.5bil investments by 2015 with
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cloudbased computing services set to become the next engine of growth.
Additionally, several conglomerates such as Huawei Technologies (a leading global ICT solutions provider); Halliburton (one of the world’s largest oil field services companies); Ranbaxy Laboratories (an Indian multinational pharmaceutical company); and NTT Communications (one of the top three telecom companies in the Fortune Global 500 ranking) are already leveraging on the country’s workforce opportunities.
However as Malaysia transforms itself from an input-driven growth strategy to one which is increasingly driven by knowledge, the local talent required to advance the economic transformation agenda must possess skills and qualities to match industry requirements.
Currently the skilled talent pool in Malaysia is at 27 percent – far off from the estimated requirement of 45 percent to meet the national agenda of a high income nation by 2020.
Other compounding challenges include low levels of students passing English exams while much sought after Mandarin-speaking local talent are being incentivised to move out of the country.
This battle however can be easily won as indicated by Kelly Services Malaysia’s MSC Malaysia is estimated to provide 50,000 total jobs and MYR$ 5.5bil investments by 2015 with cloud-based computing services set to become the next engine of growth. recent Global Workforce Index (KGWI) survey on Career Development which revealed that 64 percent of Malaysian employees (respondents of the survey) favoured skills over money and promotion!
To that end, Malaysia’s Institutions of Higher Learning must adapt their curricula accordingly with more emphasis on practical industry experience since job trends will always follow market-driven trends.
Meanwhile employers need to focus on up skilling their employees to uphold the competitive advantage for their organisations.
Banking & Finance Jobs in Demand in Malaysia
The Financial sector stands as one of the largest sectors in Malaysia with more than 300,000 people employed. This sector is
- Bank Negara Malaysia
made up by professionals in the
Accounting,
Banking,
Economics,
Finance,
Insurance and Statistics and Taxation sub-sectors. An important industry for the country, it contributes up to 11 percent of the nation’s Gross Domestic Product (GDP).
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.
In tandem with this, Bank Negara Malaysia (BNM – the country’s central bank) has prepared and is gradually implementing a blueprint in promoting Islamic Banking and Finance and achieving 40 percent share of the domestic financing market.
In fact, in the field of
Islamic Finance, Malaysia helms as the de facto captain globally. In less than a decade from 2006 to 2013, the Malaysian “sukuk” listing already commands 63 percent of the world sukuk market with a value of US$67 billion.
Banking & Finance Salaries in Malaysia
| | | | Years of Experience | Min | Max |
| Relationship Manager | | 8 years | 8,000 | 15,000 |
| Business Intelligence Manager | 8 years | 8,000 | 15,000 |
| Investment Analyst | | 5 to 10 | 8,000 | 19,000 |
| Product Development Head | 5 to 10 | 8,000 | 18,000 |
| Shariah Head | | 5 to 10 | 8,000 | 21,000 |
| Head Credit Risk | | 8 years | 8,000 | 18,000 |
| Head Sales | | | 8 years | 8,000 | 15,000 |
| Head Merchant | | 10 years | 8,000 | 18,000 |
| Senior Manager – Compliance | 5 years | 9,000 | 15,000 |
| Branch Manager | | 5 to 6 | 5,500 | 12,000 |
| Compliance Manager | | 4 to 5 | 6,500 | 9,500 |
| Risk Management Manager | 4 to 7 | 6,500 | 9,500 |
| Fund Accountant Manager | 3 to 7 | 5,500 | 9,000 |
| Relationship Manager | | 3 to 5 | 4,000 | 7,500 |
| Compliance Officer | | 4 to 5 | 3,500 | 7,000 |
| Assistant Branch Manager | 1 to 3 | 4,000 | 6,500 |
| Credit Manager | | 1 to 3 | 3,500 | 6,000 |
| Treasury Officer | | 4 to 5 | 3,500 | 6,500 |
| Corporate Recovery Executive | 4 to 5 | 3,000 | 5,500 |
| Credit Analyst | | 4 to 5 | 3,500 | 7,500 |
| Internal Auditor | | 2 to 3 | 2,500 | 3,500 |
| Personal Financial Consultant | 1 to 3 | 2,800 | 4,500 |
Study at the Best Universities in Malaysia for Banking & Finance
- 1st Runner Up in the 2014 Chartered Institute of Management Accounting (CIMA) GLOBAL Business Challenge Malaysia - Ali Atiq, Nikita Arabel Pironti, Kasimova Shafia and Veeresh Roy Joggesser, who are all third year BA (Hons) in Accounting and Finance students from APU
At the top ranked
Heriot-Watt University Malaysia, you will learn how to apply business management and finance knowledge and skills to a range of different managerial, business and problem-solving situations, management decisions, compliance issues and governance.
It is a specialist joint degree with equal emphasis given to the subject areas of business and finance.
Another university that students can consider is
Asia Pacific University where they offer various specialisations in
Finance & Investments for students to choose from. Students at
APU will get a degree awarded by
APU as well as Staffordshire University, UK.
For affordable universities with excellent facilities, students can consider
UCSI University or
HELP University, both with more than 20 years of experience in higher education in Malaysia.
- Curtin University Sarawak is a top ranking university in Malaysia with a 300-acre campus
Students after SPM in Sarawak can study the Foundation at
UCSI University's Kuching campus first before continuing on to the degree at their campus in Kuala Lumpur.
Study Banking, Finance & Investment at the Best Universities in Malaysia
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Job Demand For Banking, Finance & Investment Graduates in Malaysia
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