Despite the specific knowledge and skills required for a career in the financial industry, experts say the field is not only for those from finance and accounting backgrounds.

The opportunities for those from various backgrounds are derived through professional qualifications that they may acquire after completing the first degree in any field.

OCBC Bank (M) Bhd vice-president Joseph Chan Fook Onn noted that while finance, accounting, business and information technology were the usual fields that candidates were hired from, others might prove to be just as suitable for the industry.

“Anyone with an engineering background can consider going into internal audit (for example) because they have a methodological mind and when placed in auditing, they can break complex problems down to simple problems,” he said at the Institute of Bankers Malaysia Financial Services Industry Careers 2011 Fair.

On whether employers may choose a chartered financial analyst (CFA) charter holder with finance or accounting background over one with other backgrounds, AB Maximus and Co Pte Ltd managing director Th’ng Beng Hooi said they did not limit themselves to hiring only those from finance or accounting areas because not all jobs in the industry had the same requirements.

Th’ng, who is also secretariat director of CFA Singapore, added that the CFA qualification was opened to anyone with a basic degree or equivalent and with the relevant working experience. However, professional qualifications for the financial or investment industry are no walk in the park.

“If you know you have the capability, the discipline and (perhaps) a group of friends with like-minded motivation, you can take on the CFA,” he advised, adding that, on average, only about 10 of 100 CFA candidates passed the three levels of exams.

On the matter of getting qualifications, a masters in business administration (MBA) appear less coveted than professional credentials like the certified internal audit or CFA charter.

“Some financial institutions look for people with MBAs but generally they don’t,” Joseph said, adding that continued professional development was important for employees to stand out among their peers.

Th’ng also noted that the CFA charter was like a “global currency” accepted by investment institutions worldwide while candidates might need to have an MBA from a reputable institution to convince employers.–The Star