Hi there,I am now trying to apply for the Master of Finance program at SFU in Canada. However the questionnaire has given me a lot of trouble as I've been out of campus for over two years. My memories and stuff learned is fading away!I am a bit disappointed for my answers and feel helpless to significantly improve it. Could someone help me with it? Many thanks!
Also, the answer to each question is limited to 200 words, another big challenge.
1. Why have you decided to pursue an MSc Finance program? Why is this the right time?
As an ambitious candidate seeking opportunities in the financial industry, I understand success in the world of finance requires an agile grasp on market trend and thorough understanding in financial principles. Even though my bachelor degree in Finance & Economics and work experience unveiled the mystery of some instruments, theories and methodologies in the field of Finance, I feel my comprehension is superficial and lacks in-depth reflection on the constantly evolving market and economies. Therefore, an academic advancement is desperately demanded.
Within last two year I was able to explore different business fields including Personal & Business Banking, Market Operations, charitable organization within a RBC rotational program in Canada and international trading company in China. On one hand, two years of work experience has expanded my horizon and psychologically prepared me for bigger challenges. On the other hand, the time is long enough to help me discover my real passion towards Finance and realize what I truly want to do in the future. Now since I've determined to focus my career on the investment side in financial industry, I'm deeply convinced this is the right time to seek an advancement in my education.
2. What are your career goals? How will the SFU MSc Finance program help you reach your goals?
My ultimate career goal will be a project manager of a Trust Fund in China. The MSc Finance program at SFU will help me reach my goal in efficient and effective manner. First, the curriculum is scientifically designed. The laddering construction of the course launches with foundational financial and economic theories, preparing students with necessary fundamentals and rational mind-set. The taught technical and modelling courses equip students with problem-solving abilities and analytical skills to get ready for more complicated issues in reality. Eventually real business cases or research on current issues will provide the final polishing on students' practical experience and professional capabilities such as critical thinking, multitasking and communications skills that they will heavily rely on in real business environment. Secondly, SFU has an experienced faculty backed by professionals in related industry. They will guide students to the right path and their fresh, first angle insights and opinions will add great value to the following employment. Thirdly, SFU provides students valuable practice to apply what they learn in class at the school's investment funds. This is an incomparable opportunity to gain hands-on experiences at an environment where support from peers and professors are at hand-reach distance.
3. How will you contribute to the learning environment?
Finance is never a stand-alone subject, but an umbrella that covers wide spectrum of information and insights taken from different industries. My outgoing personality, curious mind and variety of work experience at RBC, charitable organization and International trading company will be particularly valuable in SFU's vigorous learning environment where we constantly learn from each other and absorb knowledge in different fields of business. I anticipate proactively sharing my fresh, first-angle perspective in financial service, internal risk control and international business environment with peers in exchange for their unique opinions and understandings on unfamiliar sectors and topics. Together with the knowledge we learn in the class, the whole group will benefit from a broader knowledge base and expansive horizons.
I believe a well-balanced academic schedule and extracurricular activities not only keeps us healthy, but also offer perfect opportunity to further practice our leadership, communications skills and teamwork spirit. I plan to found a soccer team within MSc Finance program by utilizing the skills I learnt before to help everyone enjoy the fun soccer brings and diffuse the stress from study. More importantly, the game can teach us how to communicate in an effective manner and work as an unified team.
4. What do you expect to be the greatest challenges associated with taking part in this program? How do you plan to deal with those challenges?
The greatest challenge I anticipate is having a firm grasp on professional knowledge while being able to attend social events within relatively short time frame. MSc Finance at SFU is an intensive program. Considering the course load, depth in research and expected learning results, it is highly possible that students go overboard on academics but lose the focus on social events. As one of the crucial component of the whole learning process, social events such as info session, seminar, networking fairs are important methods to obtain current updates and make connection to industry experts. Under high pressure, those activities can be easily neglected leading to a closed learning environment that could potentially lower our success rate.
In order to conquer the challenge, I will manage my time wisely by prioritizing the tasks on hand. Thus I will have a clear schedule to start with. Moreover, I will not ignore any unsolved questions or doubts till tomorrow by paying close attention to lectures, actively participating in discussion and asking meaningful questions. lastly I plan to use the fragmentary time pieces to prepare or review the knowledge points. Therefore, plenty of time can be saved towards course work and extra-curricular activities.
5. Describe an experience with a client, or a situation with your team that shows your presentation and communication skills.
I used to work at a RBC branch located near a college. Because of the cultural difference, language barrier or limited financial knowledge, a lot of oversea clients didn't wisely manage their financial assets to maximize returns or reduce their banking cost. This was indeed a lose-lose situation to clients and bank. Therefore, I planed to instill some financial knowledge and features of investment plans when they came to branch to do normal transactions. Clients were defensive to sales pitch, so I always opened my line by asking simple questions like 'Do you know you can earn more from your savings than the interest without taking substantial risk?' 'There is a way to save you some money on your banking fees'. If they were interested, I would help them evaluate their current financial status and risk tolerance to understand their potential and risk level. Considering the clients' limited access to financial knowledge, I always demonstrated the benefit by making comparisons with chart and numbers with simple, plain language rather than financial jargons. In the end, my honest attitude and shallow-to-deep strategy earned great feedback from clients and transitioned to dollar value to the branch I worked for.
6. Elaborate on your current and past experience, and describe any prior knowledge of the financial industry that you feel will help you in this program.
I often devote my spare time to extensive learning opportunities. I thoroughly studied and passed the CFA level and CSC exams after I graduate from University of Toronto. These two exams laid firm foundation in global economic analysis, statistics, accounting theories, corporate finance, equity markets, mutual fund and portfolio management. The broad subject coverage helped me obtain a comprehensive knowledge base to perform in-depth research and application in the topics offered in MSc Finance program at SFU. Meanwhile, by participating in financial modeling class, I was able to operate basic modeling programs and build financial model with VBA and add-ins. I believe this experience constructed great groundwork for the modeling class in MSc Finance program. In addition, my work experience at retail bank and market operations prepared me with visions in assessing the client needs, risk factors, risk control from client-oriented approach, which will assist me to produce pragmatic results in case studies and projects. Lastly, having worked in international trading company will benefit my study because my first-angle perspective on current economic trend and sensitivity to changes in financial climate allows me to have a sound judgement and agility when facing complicated cases in the class.
7. If you think your post-secondary grades do not accurately reflect your abilities, please indicate why.
Participating in social events and students club is a perfect complement to classroom in building my teamwork, communications, relationship maintenance and crisis management skills. For instance, on weekly basis, I was in charge of the drafting, editing and publishing the member newsletter. During the process I utilized my critical thinking mindset to select the headline from various news resources by working closely with other departments within short frame. Meanwhile, I maintained great relationship with team members to ensure the communications channel was smooth and efficient. In case that the communications channel was broken due to absence of key staff, I was responsible for holding inter-department meeting to collect ideas and thoughts, then transformed them to complete, usable pieces of news. In addition, I sat on committees for fundraising events and sports activities held by UTChinese. By hosting high-standard music concert, we were able to raised over $10,000 every calendar year to support communities or charitable organizations such as UNICEF. UTChinese had provided me a platform to gain diverse experiences that further strengthened my overall quality and social skills. I believe these experiences are of great importance in real business settings and cannot be easily interpreted by looking at my transcript.
8. What do you think are the three most relevant issues in today's business environment? (Specific to the finance industry).
After Fed announced the interest increase, hot money is anticipated flowing back to the US, causing sharp reduction in investment to other markets. Meanwhile, the stronger US dollars could put more downward pressure on the already low oil price. As an country heavily rely on resources export and foreign investment, what is Canada's solution to the downward pressure?
Recently, P to P financing platforms flourished. It expanded our financing channel and enriched people's choice for investing and borrowing. However, running with little supervision and oversight leaves huge risk in our financial system. Where is the balance point to ensure a disciplined market while prevent inefficiency in flow of funds and increasing cost brought by government intervention?
After decades of evolvement, financial industry set higher entry bar for those who wants to pursue their career in this field-most positions in related areas require relevant experience before. However, as new graduates, students have very limited channels and opportunities to practice what they learned at school. Thus, a no-experience, no-job loop formed in the job market in the field of Finance, blocking many talents with great potential away from the door. What is our solution to break the no-experience-no-job loop?
Also, the answer to each question is limited to 200 words, another big challenge.
1. Why have you decided to pursue an MSc Finance program? Why is this the right time?
As an ambitious candidate seeking opportunities in the financial industry, I understand success in the world of finance requires an agile grasp on market trend and thorough understanding in financial principles. Even though my bachelor degree in Finance & Economics and work experience unveiled the mystery of some instruments, theories and methodologies in the field of Finance, I feel my comprehension is superficial and lacks in-depth reflection on the constantly evolving market and economies. Therefore, an academic advancement is desperately demanded.
Within last two year I was able to explore different business fields including Personal & Business Banking, Market Operations, charitable organization within a RBC rotational program in Canada and international trading company in China. On one hand, two years of work experience has expanded my horizon and psychologically prepared me for bigger challenges. On the other hand, the time is long enough to help me discover my real passion towards Finance and realize what I truly want to do in the future. Now since I've determined to focus my career on the investment side in financial industry, I'm deeply convinced this is the right time to seek an advancement in my education.
2. What are your career goals? How will the SFU MSc Finance program help you reach your goals?
My ultimate career goal will be a project manager of a Trust Fund in China. The MSc Finance program at SFU will help me reach my goal in efficient and effective manner. First, the curriculum is scientifically designed. The laddering construction of the course launches with foundational financial and economic theories, preparing students with necessary fundamentals and rational mind-set. The taught technical and modelling courses equip students with problem-solving abilities and analytical skills to get ready for more complicated issues in reality. Eventually real business cases or research on current issues will provide the final polishing on students' practical experience and professional capabilities such as critical thinking, multitasking and communications skills that they will heavily rely on in real business environment. Secondly, SFU has an experienced faculty backed by professionals in related industry. They will guide students to the right path and their fresh, first angle insights and opinions will add great value to the following employment. Thirdly, SFU provides students valuable practice to apply what they learn in class at the school's investment funds. This is an incomparable opportunity to gain hands-on experiences at an environment where support from peers and professors are at hand-reach distance.
3. How will you contribute to the learning environment?
Finance is never a stand-alone subject, but an umbrella that covers wide spectrum of information and insights taken from different industries. My outgoing personality, curious mind and variety of work experience at RBC, charitable organization and International trading company will be particularly valuable in SFU's vigorous learning environment where we constantly learn from each other and absorb knowledge in different fields of business. I anticipate proactively sharing my fresh, first-angle perspective in financial service, internal risk control and international business environment with peers in exchange for their unique opinions and understandings on unfamiliar sectors and topics. Together with the knowledge we learn in the class, the whole group will benefit from a broader knowledge base and expansive horizons.
I believe a well-balanced academic schedule and extracurricular activities not only keeps us healthy, but also offer perfect opportunity to further practice our leadership, communications skills and teamwork spirit. I plan to found a soccer team within MSc Finance program by utilizing the skills I learnt before to help everyone enjoy the fun soccer brings and diffuse the stress from study. More importantly, the game can teach us how to communicate in an effective manner and work as an unified team.
4. What do you expect to be the greatest challenges associated with taking part in this program? How do you plan to deal with those challenges?
The greatest challenge I anticipate is having a firm grasp on professional knowledge while being able to attend social events within relatively short time frame. MSc Finance at SFU is an intensive program. Considering the course load, depth in research and expected learning results, it is highly possible that students go overboard on academics but lose the focus on social events. As one of the crucial component of the whole learning process, social events such as info session, seminar, networking fairs are important methods to obtain current updates and make connection to industry experts. Under high pressure, those activities can be easily neglected leading to a closed learning environment that could potentially lower our success rate.
In order to conquer the challenge, I will manage my time wisely by prioritizing the tasks on hand. Thus I will have a clear schedule to start with. Moreover, I will not ignore any unsolved questions or doubts till tomorrow by paying close attention to lectures, actively participating in discussion and asking meaningful questions. lastly I plan to use the fragmentary time pieces to prepare or review the knowledge points. Therefore, plenty of time can be saved towards course work and extra-curricular activities.
5. Describe an experience with a client, or a situation with your team that shows your presentation and communication skills.
I used to work at a RBC branch located near a college. Because of the cultural difference, language barrier or limited financial knowledge, a lot of oversea clients didn't wisely manage their financial assets to maximize returns or reduce their banking cost. This was indeed a lose-lose situation to clients and bank. Therefore, I planed to instill some financial knowledge and features of investment plans when they came to branch to do normal transactions. Clients were defensive to sales pitch, so I always opened my line by asking simple questions like 'Do you know you can earn more from your savings than the interest without taking substantial risk?' 'There is a way to save you some money on your banking fees'. If they were interested, I would help them evaluate their current financial status and risk tolerance to understand their potential and risk level. Considering the clients' limited access to financial knowledge, I always demonstrated the benefit by making comparisons with chart and numbers with simple, plain language rather than financial jargons. In the end, my honest attitude and shallow-to-deep strategy earned great feedback from clients and transitioned to dollar value to the branch I worked for.
6. Elaborate on your current and past experience, and describe any prior knowledge of the financial industry that you feel will help you in this program.
I often devote my spare time to extensive learning opportunities. I thoroughly studied and passed the CFA level and CSC exams after I graduate from University of Toronto. These two exams laid firm foundation in global economic analysis, statistics, accounting theories, corporate finance, equity markets, mutual fund and portfolio management. The broad subject coverage helped me obtain a comprehensive knowledge base to perform in-depth research and application in the topics offered in MSc Finance program at SFU. Meanwhile, by participating in financial modeling class, I was able to operate basic modeling programs and build financial model with VBA and add-ins. I believe this experience constructed great groundwork for the modeling class in MSc Finance program. In addition, my work experience at retail bank and market operations prepared me with visions in assessing the client needs, risk factors, risk control from client-oriented approach, which will assist me to produce pragmatic results in case studies and projects. Lastly, having worked in international trading company will benefit my study because my first-angle perspective on current economic trend and sensitivity to changes in financial climate allows me to have a sound judgement and agility when facing complicated cases in the class.
7. If you think your post-secondary grades do not accurately reflect your abilities, please indicate why.
Participating in social events and students club is a perfect complement to classroom in building my teamwork, communications, relationship maintenance and crisis management skills. For instance, on weekly basis, I was in charge of the drafting, editing and publishing the member newsletter. During the process I utilized my critical thinking mindset to select the headline from various news resources by working closely with other departments within short frame. Meanwhile, I maintained great relationship with team members to ensure the communications channel was smooth and efficient. In case that the communications channel was broken due to absence of key staff, I was responsible for holding inter-department meeting to collect ideas and thoughts, then transformed them to complete, usable pieces of news. In addition, I sat on committees for fundraising events and sports activities held by UTChinese. By hosting high-standard music concert, we were able to raised over $10,000 every calendar year to support communities or charitable organizations such as UNICEF. UTChinese had provided me a platform to gain diverse experiences that further strengthened my overall quality and social skills. I believe these experiences are of great importance in real business settings and cannot be easily interpreted by looking at my transcript.
8. What do you think are the three most relevant issues in today's business environment? (Specific to the finance industry).
After Fed announced the interest increase, hot money is anticipated flowing back to the US, causing sharp reduction in investment to other markets. Meanwhile, the stronger US dollars could put more downward pressure on the already low oil price. As an country heavily rely on resources export and foreign investment, what is Canada's solution to the downward pressure?
Recently, P to P financing platforms flourished. It expanded our financing channel and enriched people's choice for investing and borrowing. However, running with little supervision and oversight leaves huge risk in our financial system. Where is the balance point to ensure a disciplined market while prevent inefficiency in flow of funds and increasing cost brought by government intervention?
After decades of evolvement, financial industry set higher entry bar for those who wants to pursue their career in this field-most positions in related areas require relevant experience before. However, as new graduates, students have very limited channels and opportunities to practice what they learned at school. Thus, a no-experience, no-job loop formed in the job market in the field of Finance, blocking many talents with great potential away from the door. What is our solution to break the no-experience-no-job loop?