Introduction: I'm Francisca, currently serving in Lagos State. I want to become a finance expert, but since the financial sector is wide i'm specifically interested in Accounting and Portfolio Management. I hold a BSc in Economics and Statistics.

I need advice: In line with what i aspire to be, i'm considering starting with ICAN this year. I'm also interested in doing a computer program, i'm currently looking at CCNA, sage 50, CISA. Since i'm interested in Portfolio Management, i'm also putting CFA in mind.

My real headache right now is that with so many things to do and despite the fact that i have saved enough money to run any exam i want, i still dont have the time and money to waste in doing exams and certifications that will not be useful to my over all ambition.

In line with my chosen ambition, i need Finance experts to advice me on the right path to take, keeping in mind that i have NO working experience. Thanks for your anticipated reply.

Please I'm getting views, but no reply. I really need some advise from people already in the field.

Paris-fran:
Please I'm getting views, but no reply. I really need some advise from people already in the field.

looooooooooooooooooooooooooooooooooooooooooooooooooool ! u couldnt even wait a day?

seems our resident consultants are on sabbatical. hang on dear !

Paris-fran:
Introduction: I'm Francisca, currently serving in Lagos State.

like, seriously?

I want to become a finance expert, but since the financial sector is wide i'm specifically interested in Accounting and Portfolio Management. I hold a BSc in Economics and Statistics.

still part of the introduction abi? no advice needed here then.

I need advice: In line with what i aspire to be, i'm considering starting with ICAN this year.

sounds good

I'm also interested in doing a computer program, i'm currently looking at CCNA, sage 50, CISA. Since i'm interested in Portfolio Management, i'm also putting CFA in mind.

i hear CFA is not really 'it' anymore ... hopefully, someone else will add to this

CCNA does not fit into your outlined career path. CISA and Sage50 fit.

you can consider substituting Oracle/Java for CCNA, in line with your portfolio management objectives.

My real headache right now is that with so many things to do and despite the fact that i have saved enough money to run any exam i want, i still dont have the time and money to waste in doing exams and certifications that will not be useful to my over all ambition.

i'd go for :

1. ICAN
2. SAGE50/QUICKBOOKS/PEACHTREE
3. CISA
4. ORACLE/JAVA, MSSQL/C#
5. CFA

in that order

In line with my chosen ambition, i need Finance experts to advice me on the right path to take, keeping in mind that i have NO working experience. Thanks for your anticipated reply.

i dont want to mention names. hopefully, they'll chip in very soon

Happy Birthday, btw.

More greens !

@OP,
Start by getting a finance job. That should be your only pursuit at this time.
Forget about all those qualifications for now.

Thanks a million YAMAKUZA. You are truly a boss.

AjanleKoko: @OP,
Start by getting a finance job. That should be your only pursuit at this time.
Forget about all those qualifications for now.

I really appreciate your comment, but i'm also seeking ways to improve my CV with neccessary qualifications since BSc doesnt really do much in the Nigerian employment market. I'm also aware of people who after 3yrs of service are still looking for jobs with their BSc and i dont really want to toe that line.

Paris-fran:

I really appreciate your comment, but i'm also seeking ways to improve my CV with neccessary qualifications since BSc doesnt really do much in the Nigerian employment market. I'm also aware of people who after 3yrs of service are still looking for jobs with their BSc and i dont really want to toe that line.

How many jobs have you applied for?
I'm an experienced manager, and I assure you that we rarely look at qualifications outside the academic environment. It's even better if you go and do an Msc Finance or an MBA. ICAN is only required if you want to work as a professional accountant.

AjanleKoko:

How many jobs have you applied for?
I'm an experienced manager, and I assure you that we rarely look at qualifications outside the academic environment. It's even better if you go and do an Msc Finance or an MBA. ICAN is only required if you want to work as a professional accountant.

Thanks for the reply, truth be told I've not applied for any Job. Please I've always thought that Masters is better for People with work experience, so I dont really know if it will go a long way with helping me get a job since i dont have work experience. And will the ICAN be relevant if i choose to toe the Portfolio manager line.
Thanks for your anticipated reply.

I'm getting views but no reply. Someone in the financial sector should please say something.

Go for ACA ACCA ,CFA SAP FI
MSC programme.
i will advice you to go for msc programme.
When you are through come back for next level counsel
Thank You
Taiwo Bakare(BSC ,ACA,SAP FI

BAKAREAAT: Go for ACA ACCA ,CFA SAP FI
MSC programme.
i will advice you to go for msc programme.
When you are through come back for next level counsel
Thank You
Taiwo Bakare(BSC ,ACA,SAP FI

Thanks. I see myself doing a Msc in Finance. But will the ACA be useful if i decide to concentrate on the Portfolio Manager line and please will it be advisable to do the ACA and the MSc program at the same time?

@OP, just as Ajalenkoko has said, u should concentrate most of ur efforts now in securing an accounting or a finance job based on your chosen career path. The trend currently is that employers are more keen on recruiting skilled applicants even fresh graduates.
So i'd advice, a take up a job to get the relevant experience and also start preparing to write ICAN if u want to go in that line or any other professional exam that will lead you to your career goals.

Peace!

Paris-fran:
Introduction: I'm Francisca, currently serving in Lagos State. I want to become a finance expert, but since the financial sector is wide i'm specifically interested in Accounting and Portfolio Management. I hold a BSc in Economics and Statistics.
I need advice: In line with what i aspire to be, i'm considering starting with ICAN this year. I'm also interested in doing a computer program, i'm currently looking at CCNA, sage 50, CISA. Since i'm interested in Portfolio Management, i'm also putting CFA in mind.
My real headache right now is that with so many things to do and despite the fact that i have saved enough money to run any exam i want, i still dont have the time and money to waste in doing exams and certifications that will not be useful to my over all ambition.
In line with my chosen ambition, i need Finance experts to advice me on the right path to take, keeping in mind that i have NO working experience. Thanks for your anticipated reply.

Haya,

Separate eggs from oranges. Portfolio management is never accounting and accounting is never portfolio management. These are two completely different fields. A portfolio manager is futuristic and essentially uses past and current information to gauge where the future will hopefully go, while an accountant is most times historical and cares much more about things that had already occurred rather than things that will/may occur in the future. Hope you get the drift.

In line with comparing likes with likes, I can furthermore tell you that accounting is never finance and finance is never accounting. Do they intersect at some point? Yes, absolutely..But both fields are different. You need a knowledge of accounting to do finance, but being an accountant does not qualify you as a finance professional and vice-versa. In the US, if you work in finance, then you work in finance. In the same vein, if you work as an accountant, then you work as an accountant. Finance has so many fields and I guess so does accounting, but I cannot say much about accounting because I am not an accountant and never wanted to be one.

Now, to finance, I must tell you that we share the same career ambition. Ideally, my long term goal is to be a portfolio manager who manages billions of dollars for a fund of funds or a hedge fund company, ideally my own hedge fund gig. Basically, a portfolio manager selects assets from same and different asset classes to form a portfolio of N assets, where N is an integer. The portfolio manager has a major goal in mind. The first is generating alpha and the second is reducing overall portfolio risk. By generating alpha, the portfolio manager seeks to make returns (something like profits) that outperform the returns from a benchmark that his portfolio is measured against. For instance, a portfolio of assets in Nigeria would be generating an alpha if the portfolio gives a two-year return (say 45%) that is greater than the return (say 30%) of the NSE All Share Index for the same period. In that case, we would say the portfolio has generated an alpha of 45%-30%! This is the simplest explanation I can give, and this is what many portfolio managers try to do. In some hedge fund or asset management companies, portfolio managers are ranked according to their alpha generating skills. A portfolio manager who consistently generates huge alphas is more likely to earn a bonus of $2 million per year than another portfolio manager who consistently under-performs his benchmark. I hope this is clear

How to become a portfolio manager? T22's style and strategy...

I am not saying you should follow my style, but I guess my style should hopefully serve as an illustration on how one can become a portfolio manager. The way I hope to become a portfolio manager is to start out in a capital market company that specializes in equity and debt capital markets. First, I would work in equity research and analysis and value stocks and familiarize myself with different industries and different sectors and with companies listed in these industries and sectors. I would learn what drives their share prices, both technical and fundamental drivers, and I would also learn how these companies do their businesses and how they earn profits and how they cut costs and how they grow revenue and how they diversify into other income generating areas. In essence, I would spend time building a very deep understanding of the stock market. This should take 4-6 years at the minimum.

The next step, the second step, would be to change departments and move from equity capital market to debt capital market. Essentially, I would move from being a stock guy to becoming a bond/fixed income guy. I would do this for several years and understand the intricacies of fixed income research and analysis. I would learn about corporate and government bonds and many other fixed income instruments. This should take a minimum of 3-5 years to achieve. It would take a shorter time, at least for me, because fixed income analysis is more of a science than art. Once learnt, it becomes a part of you and stays with you as you continually upgrade yourself. However, equity analysis is more subjective in nature and this lends it to being less scientific in nature. Again, this is my view.

After successfully doing first and second steps, I would move to the department of risk management. I would spend less than 3 years here because steps one and two would have exposed me to risk management tools and so my learning curve would be much steeper while working in the risk management. So, in risk department, I would expose myself to hedging tools, including swaps, derivatives, options, futures and everything I can expose myself to within the shortest time possible. I normally would not exceed 3 years in this department.

Armed with solid hands-on experience in equity and debt capital markets, risk management, derivatives and co, I would go and market myself to big hedge fund companies or to high net worth individuals who are willing to have me manage their billions of dollars funds. I will charge 2% of the managed funds and 20% of the returns I am able to generate in a given financial year. Without mincing words, I would become the next Soros

Education that could help---
First, BSc Economics/Finance/maybe Accounting/Engineering/Physics/Mathematics

Then, try to enter an asset management company like ARM (asset management coys are essentially buyside) and learn about capital markets securities (debt and equity) as much as you can. If you can avoid Vetiva, IBTC and co, then please do. They are sell side firms and may not properly further your ambition of becoming a portfolio manager. However, some of these companies have a buyside arm, so you may select to work in buyside which is the perfect place for an aspiring portfolio manager. I myself started out in a quasi buyside company.

Okay, spend close to 3 years with the buyside firm and make sure you pass CFA level 1 and 2, then BAIL for graduate studies at a Top School. Either do an MBA or do an MFE. While doing graduate studies, take CFA levels 2 and 3 and pass them. With your very relevant experience, top notch education and zeal, you will have positioned yourself to getting hired by a company where your aspiration of becoming a portfolio manager is most likely to become a reality.

I wish you good luck.

Sincerely,

T22

NB: Just go learn and become an expert (or something near that) in C++ and/or C# and/or C plus Excel and/or VB. We hardly use all those CCNA acquired knowledge in finance. We are finance experts, not some IT gurus, although I agree that a sound knowledge of IT is always priceless.

Typos/Ibons regretted..No time to proofread

Listen to Ajanlekoko and T22. Nobody uses the CFA to 'boost the CV.' What's a lawyer who's never been in court or a pharmacist who's never prescribed paracetamol? They're like a chartered accountant who's never reconciled a real account.

Being an Economics and stats graduate should have already armed you with most of the things you need to know about finance and Portfolio Management. If you are however considering these exams to boost your employability, you should aim solely for the CFA...you have no business studying for ICAN or other stuffs you typed up there.

On the subject of time and money, well, no one has ever had enough of those. It's up to you to decide for yourself if your passion to pursue a career in finance is worth investing two of the most scarce resources on.

I will advise you spend your time networking with people in the industry, submitting job applications for internships and following up on established networks. It's fairly easy to build networks within any industry...all you need is to be sociable, curious, well mannered and charming. You must be a go-getter too. Ask to be introduced to people, and when you get introduced to people, offer to buy them drinks at some point in the future. If you are lucky and such offer gets accepted, make sure you go to such future meetings with your CV in your bag. If you are going to be a portfolio manager, you've got to learn to be a sales man first!!...{having a good looking face and a nice pair of t*ts, I'm told, helps a lot too}

On how to spend your money....well you believe you've got enough, you should consider enrolling for the CFA program. This may likely introduce you to some content (you would likely benefit mostly from knowledge of instruments and pricing), but like i said already, being an Economics & Stats graduate should mean you already know a lot of stuffs about Finance, probably even better than many finance guys will ever do. Being an Economics major gives you an edge in that you are able to take a top-down view given your understanding of how relationships work within the macro context. I have met many people who have spent many years managing portfolios and still can't do this.

Overall, no one can ever give you a right path...as there's none. You simply have to optimize an approach between:

a) What you currently know ---->> what you need to learn ----- >> what you should know

b) How close is your network to the Industry ---->> How many more relationships do you need to build ----->>> How many industrial players do you have links with.


You should endeavor to spend your time and money between a and b above.

Thanks WORLDZ, TANIMOLA22, SAMMY107 and VIOLENT. You are all truely bosses I appreciate! Thanks for explaining to me that Accounting and Portfolio Management dont hold the same career path. The thing is that in NYSC camp, they make it sound like getting as many professional qualifications as possible makes one a hot cake in the employment market. I've always liked the Portfolio Manager path, but i got discouraged from it with people saying the they are not really useful in Nigeria. Since Accounting is like the most popular profession in the world, I thought it was a good alternative.
PLEASE, IS THE PORTFOLIO MANAGER CAREER REALISTIC IN NIGERIA? AND IS IT A GOOD PLACE FOR SOMEONE WHO HAS NO WORK EXPERIENCE TO START FROM?
Thanks once again.

Paris-fran:
Thanks WORLDZ, TANIMOLA22, SAMMY107 and VIOLENT. You are all truely bosses I appreciate! Thanks for explaining to me that Accounting and Portfolio Management dont hold the same career path. The thing is that in NYSC camp, they make it sound like getting as many professional qualifications as possible makes one a hot cake in the employment market. I've always liked the Portfolio Manager path, but i got discouraged from it with people saying the they are not really useful in Nigeria. Since Accounting is like the most popular profession in the world, I thought it was a good alternative.
PLEASE, IS THE PORTFOLIO MANAGER CAREER REALISTIC IN NIGERIA? AND IS IT A GOOD PLACE FOR SOMEONE WHO HAS NO WORK EXPERIENCE TO START FROM?
Thanks once again.

You normally cannot start out as a portfolio manager because of your inexperience; no sane person will give you a real portfolio to manage. But you can become a portfolio manager down the line as you progress through your career. And yes, being a portfolio manager in Nigeria is very realistic; there are currently many portfolio managers in Nigeria. Almost every buy side investment house in Nigeria has at least one portfolio manager and one assistant portfolio manager, but it takes a couple of years and relevantly direct work experience to reach these levels. You don't just finish NYSC gbam and become a portfolio manager, unless you have been managing portfolios as a professional for some years.

To repeat myself, go and look for firms, especially asset management firms, fund management firms, investment houses, even insurance and stock research houses, and convince them to hire you as a junior analyst or as an intern. I know it's not that easy, but it's possible. Many firms in Nigeria welcome interns. Look towards firms like Cardinal Stone Partners, ARM, and a host of other asset management firms. If you are so passionate about being a portfolio manager in the future, you can offer to work for these firms free of charge today, knowing full well that such act would help you gather the requisite hands-on experience you will need in the future. Just get yourself inside one of the companies where you can learn the ropes towards becoming a portfolio manager.

T22

tanimola22:

You normally cannot start out as a portfolio manager because of your inexperience; no sane person will give you a real portfolio to manage. But you can become a portfolio manager down the line as you progress through your career. And yes, being a portfolio manager in Nigeria is very realistic; there are currently many portfolio managers in Nigeria. Almost every buy side investment house in Nigeria has at least one portfolio manager and one assistant portfolio manager, but it takes a couple of years and relevantly direct work experience to reach these levels. You don't just finish NYSC gbam and become a portfolio manager, unless you have been managing portfolios as a professional for some years.

To repeat myself, go and look for firms, especially asset management firms, fund management firms, investment houses, even insurance and stock research houses, and convince them to hire you as a junior analyst or as an intern. I know it's not that easy, but it's possible. Many firms in Nigeria welcome interns. Look towards firms like Cardinal Stone Partners, ARM, and a host of other asset management firms. If you are so passionate about being a portfolio manager in the future, you can offer to work for these firms free of charge today, knowing full well that such act would help you gather the requisite hands-on experience you will need in the future. Just get yourself inside one of the companies where you can learn the ropes towards becoming a portfolio manager.

T22

Thanks a million!

tanimola22:

How to become a portfolio manager? T22's style and strategy...

First, I would work in equity research and analysis and value stocks and familiarize myself with different industries and different sectors and with companies listed in these industries and sectors. I would learn what drives their share prices, both technical and fundamental drivers, and I would also learn how these companies do their businesses and how they earn profits and how they cut costs and how they grow revenue and how they diversify into other income generating areas. In essence, I would spend time building a very deep understanding of the stock market. This should take 4-6 years at the minimum.

The next step, the second step, would be to change departments and move from equity capital market to debt capital market. Essentially, I would move from being a stock guy to becoming a bond/fixed income guy. I would do this for several years and understand the intricacies of fixed income research and analysis. I would learn about corporate and government bonds and many other fixed income instruments. This should take a minimum of 3-5 years to achieve. It would take a shorter time, at least for me, because fixed income analysis is more of a science than art. Once learnt, it becomes a part of you and stays with you as you continually upgrade yourself. However, equity analysis is more subjective in nature and this lends it to being less scientific in nature. Again, this is my view.

After successfully doing first and second steps, I would move to the department of risk management. I would spend less than 3 years here because steps one and two would have exposed me to risk management tools and so my learning curve would be much steeper while working in the risk management. So, in risk department, I would expose myself to hedging tools, including swaps, derivatives, options, futures and everything I can expose myself to within the shortest time possible. I normally would not exceed 3 years in this department.

Armed with solid hands-on experience in equity and debt capital markets, risk management, derivatives and co, I would go and market myself to big hedge fund companies or to high net worth individuals who are willing to have me manage their billions of dollars funds. I will charge 2% of the managed funds and 20% of the returns I am able to generate in a given financial year. Without mincing words, I would become the next Soros

Education that could help---
First, BSc Economics/Finance/maybe Accounting/Engineering/Physics/Mathematics

Then, try to enter an asset management company like ARM (asset management coys are essentially buyside) and learn about capital markets securities (debt and equity) as much as you can. If you can avoid Vetiva, IBTC and co, then please do. They are sell side firms and may not properly further your ambition of becoming a portfolio manager. However, some of these companies have a buyside arm, so you may select to work in buyside which is the perfect place for an aspiring portfolio manager. I myself started out in a quasi buyside company.

Okay, spend close to 3 years with the buyside firm and make sure you pass CFA level 1 and 2, then BAIL for graduate studies at a Top School. Either do an MBA or do an MFE. While doing graduate studies, take CFA levels 2 and 3 and pass them. With your very relevant experience, top notch education and zeal, you will have positioned yourself to getting hired by a company where your aspiration of becoming a portfolio manager is most likely to become a reality.

I wish you good luck.

Sincerely,

T22

I can say that this your style is a tough one o especially the naija part.

You definitely know that here in Nigeria, one is driven and controlled by many factors such that choices are not quite easy to make, maybe one starts from an undesired field (completely different from one's target) and later sway into that you wanted at the onset, meanwhile, the sad/unfortunate thing is that the latter may not materialise, because the desired might have been the thing of the past, especially after spending donkey years in/with the undesired, except one is unsuccessful or determined. (Forget fulfilment)

What a state!

Tanx for dis many highlights! Am a graduate of mathematics and economics wit barely half year experience as a payroll officer in a small private firm. Av heard abt dis CFA,how do one become a member and considring d paucity of job openings,how do one secure a job wit a CFA holder and can d exam b prepared and written in Nigeria? Pls advice asap

optimiza: Tanx for dis many highlights! Am a graduate of mathematics and economics wit barely half year experience as a payroll officer in a small private firm. Av heard abt dis CFA,how do one become a member and considring d paucity of job openings,how do one secure a job wit a CFA holder and can d exam b prepared and written in Nigeria? Pls advice asap

To become a member of CFA, you will have to write their exam and have 4years experience in that field. You can prepare for it in Nigeria, but you can't write it in Nigeria.

Parisfran:

To become a member of CFA, you will have to write their exam and have 4years experience in that field. You can prepare for it in Nigeria, but you can't write it in Nigeria.

Hello.. .


This thread.. ..I did come in late and with the insight here, I must admit I've learnt a lot. So how have you journeyed? Have you successful implanted yourself into one if these asset management firms? And your goal to become a Portfolio Manager...how's it?

Cheers

tanimola22:


You normally cannot start out as a portfolio manager because of your inexperience; no sane person will give you a real portfolio to manage. But you can become a portfolio manager down the line as you progress through your career. And yes, being a portfolio manager in Nigeria is very realistic; there are currently many portfolio managers in Nigeria. Almost every buy side investment house in Nigeria has at least one portfolio manager and one assistant portfolio manager, but it takes a couple of years and relevantly direct work experience to reach these levels. You don't just finish NYSC gbam and become a portfolio manager, unless you have been managing portfolios as a professional for some years.

To repeat myself, go and look for firms, especially asset management firms, fund management firms, investment houses, even insurance and stock research houses, and convince them to hire you as a junior analyst or as an intern. I know it's not that easy, but it's possible. Many firms in Nigeria welcome interns. Look towards firms like Cardinal Stone Partners, ARM, and a host of other asset management firms. If you are so passionate about being a portfolio manager in the future, you can offer to work for these firms free of charge today, knowing full well that such act would help you gather the requisite hands-on experience you will need in the future. Just get yourself inside one of the companies where you can learn the ropes towards becoming a portfolio manager.

T22

Hello.. .

You've been very helpful and insightful in your responses so far and I must appreciate you for that.

Well, in as much as I would love to have an experience in Portfolio Management, how about choices for guys who are passionate about raising funds for corporations, organizations, small businesses, funds for projects and the rest.. ..

Thanks for your anticipated response.

OP any updates?

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Parisfran:

I really appreciate your comment, but i'm also seeking ways to improve my CV with neccessary qualifications since BSc doesnt really do much in the Nigerian employment market. I'm also aware of people who after 3yrs of service are still looking for jobs with their BSc and i dont really want to toe that line.

Please Parisfan I sent you a Pm. I want to confirm something very imporant from you.

Thanks

Parisfran:
Introduction: I'm Francisca, currently serving in Lagos State. I want to become a finance expert, but since the financial sector is wide i'm specifically interested in Accounting and Portfolio Management. I hold a BSc in Economics and Statistics.

I need advice: In line with what i aspire to be, i'm considering starting with ICAN this year. I'm also interested in doing a computer program, i'm currently looking at CCNA, sage 50, CISA. Since i'm interested in Portfolio Management, i'm also putting CFA in mind.

My real headache right now is that with so many things to do and despite the fact that i have saved enough money to run any exam i want, i still dont have the time and money to waste in doing exams and certifications that will not be useful to my over all ambition.

In line with my chosen ambition, i need Finance experts to advice me on the right path to take, keeping in mind that i have NO working experience. Thanks for your anticipated reply.

Nawa o
People have been asking how the journey has been over the years, you come online yet you never reply.