Working in the UAE at an executive level

Anonymous wrote:

I am a Chartered Accountant with Big 5 experience. I have wide exposure from Banking, Manufacturing, trading and other industries. I am currently (past 15 years) in the Information Technology field in managerial position with extensive experience in global implementations and initiatives. I am 48 years old and am based in the USA. I have prior work experience in UAE and am looking to move there for work at an executive level. Do you assist someone like myself in this pursuit?


The regional manager of WH Marks Sattin Middle East replied:

Dear Sir/Madam,

I am afraid without a CV I cannot judge exactly what skills are transferable, but a couple of general rules which are relevant are:

1. Temporary work is legally not viable in Dubai. You can sign a one year contract, but daily or hourly rates are not possible as employees must be sponsored on a companies work permit and short term mission visas are being discussed at governmental level, but are not yet available. Most IT implementations rely on temporary workers for short term projects and as such companies tend to turn to management consultancies for that sort of work. The closest work to that which may suit is in a PMO department doing project/cost accounting on initiatives.

2. To get a job in Dubai experience must world class, current and an exact fit to a job spec. The work you are most likely to be selected for will reflect exactly what you have been doing over the past two to three years and within the industries you are currently working in. This is for two reasons; the first is that Dubai is immensely popular as a destination for aspiring high flyers from all over the world. Each job positing we list in Dubai receives around 6 times the number of responses than a job in London, which is traditionally the most desired working destination in the world. Competition is tough, employers can afford the best and will only go through the convoluted process of recruiting from the US if the application is perfect.

3. Experience is valued highly here, whereas other markets can value youthful potential as the greater asset.

I hope this helps

WH Marks Sattin

http://www.whmarkssattin.com/dubai

ACCA and then MBA?

Anonymous wrote:

I live in the UAE, and I have just finished by Bachelors in Finance, however, I am condsidering doing ACCA and then later on doing an MBA in Finance. Is it a wise go?? Or should I do an MBA and then maybe an ACCA??On the other side, I do not have much working experience (less than a year).Please advise...

The regional manager of WH Marks Sattin Middle East replied:

Dear Sir / Madam

Most good MBAs won't let you join until you have had five years working experience, so although there are work arounds, I would avoid them. The ACCA is an accounting qualification and it is wise to complete this as early as possible combining it with valid accounting experience. After that I would consider the MBA, but for the right reasons only. Doing an MBA is fantastic for personal development, but it is not a qualification. Many people take it as a passport to a new career, but it is merely there to sharpen and develop already existing business skills. Bear in mind they are expensive and time consuming, but really do make people think about and go about business better.

All the best

WH Marks Sattin
http://www.whmarkssattin.com

Changing career into corporate finance

Anonymous wrote:

Hi

I am a 41 year old Solicitor in Family Law. I have a 2:1 degree in Law and Postgraduate Diploma in legal practice.

Older qualifications include AAT/BTEC in Business and Finance (22 years ago!).

I want to change career and Corporate Banking is of interest to me. Relationship Manager.

I realise I will need to send some speculative applications, I have the transferable skills but will need Finance Training.

What are the prospects of such a Career Change? How on earth do you send speculative applications avoiding HR to the large banks eg. RBS and Barclays.

Their websites are geared up to online applications which I assume will go straight to HR.Your advice would be very much appreciated.


A senior manager in WH Marks Sattin's corporate fnance team replied:

Many thanks for your comment on our Job Doctor site.

In all honesty, we do not really recruit into the Relationship Banking divisions of our clients, however I hope these few points may help. I agree with what you say with regards to online applications. Yes, these will be run and monitored by their HR staff and there is a high probability that they dismiss a high percentage of applications if they are from different industries.

You also have to take into consideration the state of the market and ask if banks are going to be hiring into this function? Many of our clients are either letting people go at present or simply not hiring and consolidating the staff they already have.

I think the best option to change career at this time is to try and apply for a few roles both directly to the banks and maybe to agencies who specialise in this are of banking. Networking is also extremely important especially as Relationship managers should have the ability to utilise contacts from the outset. Sometimes it is a case of "who you know, rather than what you know".

I hope these brief points may be of assistance and I wish you the very best of luck with your job search.

Private equity job prospects in the UK

David wrote:

Hi

I am currently based in South Africa but am very seriously considering a move to the UK. I am 41 years old and have a varied background in corporate finance, private equity, venture capital, asset-based finance as well as an e-commerce start-up. I am a Chartered Accountant (South Africa) as well as a CFA Charterholder. I would be interested to learn what you would advise about my job prospects in the UK. I have a preference for a job with some type of investment focus rather than pure advisory, but am open to suggestions. I’ve sent this email as a first step but would welcome a telephonic discussion.

Kind regards

David


A senior manager in Marks Sattin's Private Equity team replied:

Many thanks for your interest in the opportunities we've advertised and apologies for not always being able to provide individual feedback on each individual application. Private Equity in the UK is hugely competitive. Given the recent economic trends affecting the global market place, competition for these positions have increased significantly with the numbers of M&A and Leverage Finance bankers currently in the market place. As such clients are in an increasingly luxurious position of being able to hand select the 'perfect' cv. Most in demand are individuals at the investment analyst or associate level - top ranked M&A bankers from the Bulge brackets with a second European language and impeccable academics are particularly sought. At the more senior level a demonstrable track record is a must and for UK or European houses, a investment history and network of contacts is imperative. International relocation is by no means impossible but individuals need to have a unique selling point to compete against the home grown professionals and should be prepared to be flexible and take steps towards their ideal job.

For further information, please email privateequity@markssattin.co.uk and continue to apply for jobs that are of interest to you.

All the best in your search

Moving into Corporate Finance following ACA qualification

Anonymous wrote:

Hi, I am a final year student at Nottingham University studying Finance, Accounting and Management. I want to work in Corporate Finance or a related discipline. I reached final assessment centre stages for both PwC and KPMG before being informed that they had filled all their vacancies in this area. Both have given me the opportunity to apply for audit instead of my original service line, as this is all that is now available in Manchester. If I were to join audit and qualify as an ACA, would it be possible/easy to move into Corporate Finance, M&A advisory etc once qualified?


A manager in Marks Sattin's corporate finance team replied:

Many thanks for your email. As a niche recruiter within the Accountancy and Finance market, we are specialists at finding ACA candidates, opportunities within the Corporate Finance teams within Investment Banks, Advisory Houses and Top 4 Practices.

This is one of the most competitive areas of recruitment as there are always too many candidates for not enough roles when it comes to qualification time in Quarter 3. There are steps however to put you ahead of the game:

• Qualify with first time passes. Many of our clients are only willing to interview candidates that have a perfect academic and exam record.
  
• Fight for a secondment to a deal focused team such as Transaction Services, Lead Advisory or M&A.
  
• Keep up to date with the Financial markets. Many ACAs we meet have a basic lack of general financial understanding and struggle with Corporate Finance interviews.
  
• Undertake the new Corporate Finance Qualification (CFQ). This should give a great overview of the markets and modelling/valuation techniques.
  

The ACA is a fantastic qualification to have and will give you many options when you qualify. The training schemes are well respected and will give you the skills and client exposure to allow you to apply for many roles at your level upon completion.

Good luck with your exams and job search and please feel free to email with any further questions.