The procedure to get the legal license in Malaysia to operate as an investment analyst
With the growing trend in investment opportunities and complex financial assets, the money matters are becoming difficult. Therefore, companies hire an investment analyst to help with their work. Most often banks and other companies hire financial analysts to do this job for them. The task of an investment analyst is not very easy because they have to look into the market trends, monitor finances and give recommendations accordingly. They also have to foresee the future investment and financial progress of the company. The procedure to get the legal license in Malaysia in order to work as an investment analyst is vital for any individual who aims to work in the field needs it.
In Malaysia, if you want to be an investment analyst you have to become very responsive to the market’s current scenarios and the latest invest plans. Investment analysts in Malaysia have a great scope because many companies are seeking financial advice due to their complex financial decisions. However, it is important to understand the legal procedure to obtain the license in Malaysia before stepping in the field practically. Malaysia has quite strict rules regarding the people who can work in the country and the ones who can start a business, therefore, it is extremely important to get the approval of the ministry in the form of a license in Malaysia into work legally.
Benefits of becoming an investment analyst
There are several benefits of becoming an investment analyst, and it can be termed as one of the top fields in the country. Some potential benefits to be an investment analyst in Malaysia are:
- You have the opportunity to earn very high
- Can work for multiple companies, being your own boss
- The market needs you
The job of an investment analyst is quite interesting and involves duties which are not very complicated nor boring. Some of the job duties as an investment analyst in Malaysia are as follows:
- Make recommendations on investment after gathering information about the market trends
- Deeply understand macro and microeconomic factors of Malaysia and the world
- Keep track of the company’s past and present future records
- Make financial reports of the future prospects
- Predict the future of investment
- Be a team player and cooperate with financial employees of the company
- Foresee if insurance would be needed
- Work out for the ways to reduce risk
- Make contingency plans assuming the risks
- Come up with different ideas
- Be very firm about the Malaysian government’s rules and regulations for certain investment plans
Therefore, the job of an investment analyst in Malaysia is very interesting and rewarding hence, it should be considered by individuals who are planning to start working there.
Being a native of the country the person does not require any work permit or license to work as an investment analyst, however being a foreigner a person cannot take up any job attaining the specific license in Malaysia by the government authorities.
The legal procedure to attain the investment analyst`s license in Malaysia starts with checking your eligibility for the license and the work field. Once it is determined that you are eligible for the registration you can continue the procedure and go to the next step. In order to be eligible to work as an investment analyst, the person must be qualified in the field. It is vital that the person has a bachelor’s degree in Business, Accounting, finance management, Administration, Economics or any such relevant field. If the person has a Master`s degree in Business Administration it is a plus point.
Similarly having various certifications related to the mentioned fields also make the process of getting the license in Malaysia easier. The next step of the legal licensing process is to pass the test which is taken in relation to the field the person wants to start working in. this is a written test and needs to be cleared in order to start working in Malaysia. The same license is used to work in the following categories; securities, derivatives, fund management, Private Retirement Scheme, Advising on corporate finance, Investment advice; and Financial planning. Therefore, if the financial analyst needs to switch his career or profession he or she can opt for one of the above-mentioned fields without getting a new or different license.
The individual must fill out forms and submit them in the ministry of labor in Malaysia in order to initiate the process. Once all the above-mentioned steps are done the person will attain a stamped license document issued by the government of Malaysia. The ministries in Malaysia follow the capital markets and services Act 2007 (CMSA), Futures Industry Act 1993 (FIA) and Securities Industry Act 1983 (SIA). By the authority of issuing licenses, the SC is able to regulate the market by determining the overall ethical and professional values of the industries.
The government also charges a handsome amount of fee for the issuance of the licenses once all the requirements are met. The main factors which are taken into account in this licensing processes are probity. Financial status, reputation, financial integrity, reliability, character and ability to perform effectively, fairly, honestly and professionally.
It can be concluded that working as an investment analyst is a quite wise decision in the said country. However, it is vital for the individuals to attain the working license in Malaysia in the relevant category to work without any limitation and legally. The licensing ensures that the satisfactory levels of protection, provision and qualification are met by the individual. It also safeguards the investors or the clients. This also helps the government to make sure that their markets and industries remain fraud-free. Therefore, honesty, efficiency and ethically practices in the country remain intact.