First, I would like to clarify that some people do not take the HKSI Licensing Examination (also known as LE exam) to find a job, but just to learn more about the financial/ securities market and equip themselves with the necessary knowledge in a compact and more organised way. This article will not cover information regarding the above purpose, instead, we will introduce what jobs require passing results in the HKSI LE Paper 1 and the other papers.
Private Banking (PB) Relationship Manager (RM) and Assistant Relationship Manager (ARM)
Private Banking (PB) jobs are the dream jobs of most people, in addition to the fact that clients are mostly middle-class or high net worth individuals, the colleagues also have a prominent background with a good outlook. PBs’ job is to customise suitable investment solutions for clients, which can include securities products and derivative products. A license is required for advising clients on investing in securities and futures, placing orders of buying and selling securities for clients because it belongs to regulated activities (RAs). Therefore, the Relationship Manager (RM) who is responsible for finding clients and communicating with clients and the Assistant Relationship Manager (ARM) who is responsible for executing orders will need to pass some specified combination of the HKSI LE papers before they can successfully apply for a license, along with engaging in these businesses.
Buyside: Asset Management Firm, Fund House
Buyside is also an industry that many people flock to, which is about the party that invests in other companies or products. There are various positions in the buy-side firms, most of the front-office positions are mostly related to Type 9 regulated activity (RA), which requires an asset management license, including sales, settlement, portfolio management and other activities. While other activities are related to products or services such as discretionary accounts, private equity funds (PE fund), hedge fund, fund of fund ( FoF), fund of hedge fund (FoHF), etc. Some of the roles may also involve other regulated activities such as Type 1, Type 2, Type 4, and Type 5 RA. Therefore, these positions’ requirements include passing results in HKSI LE exam papers in order to obtain a license when they perform their duties.
Family Office
The Family Office serves the wealthiest families in Hong Kong, thus entering a family office is a precious opportunity that everyone in the financial industry can’t wait for. In many cases, family offices need to apply for a license for regulated activities, and certain positions, such as portfolio managers (also known as fund managers or PM), and investment consultants (IC), require a license to serve their functions.
Family Office and SFC license – When do family offices need a license, please refer to
Investment Bank (iBank) & Corporate Finance Company
Investment Bank (iBank)’s main business can be multifarious, such as corporate restructuring, mergers and acquisitions, corporate financing, securities issuance, underwriting, research, securities trading services, investment consulting, asset management, wealth management, etc. Many of which require a license to conduct their duties because of involving regulated activities. Thus, getting into such an industry that everyone admires, including bulge bracket (large-scale) investment banking, needs the input of many efforts. In addition, front-office positions in corporate finance companies and some operational roles are also required to hold at least a Type 6 license.
Securities Brokerage Firms/ Stock Brokers
The front-office of securities brokerage firms and even some middle- and back-office jobs require candidates to apply for licenses, so some require you to pass the relevant examination combination before giving you a job offer. Many experienced licensed representatives would also take and pass the HKSI LE RO (responsible officer) papers in advance so they can onboard soon when they are promoted to be Responsible Officer or for more job opportunities.
Commercial Bank / Retail Bank
In addition to ordinary deposit services and lending services, some commercial banks or retail banks also provide services like securities trading. If you want to pursue a Relationship Manager (RM) position that provides wealth management services or an Assistant Relationship Manager (ARM) position, you may need to take the HKSI LE papers before you can apply for a license and conduct the business.
Conclusion
In fact, there are different kinds of ways out, the above are just some of the common career paths, for your reference and understanding of the functions of HKSI LE Licensing Examinations. If students are interested in knowing what papers they need to take, please refer to www.2cexam.com.hk/a1064_eng
Extended Readings
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2CExam mainly sells products related to HKSI, IIQE, EAQE and SQE, and provides HKSI LE Papers 1, 2, 3, 5, 6, 7, 8, 9, 11, 12 mock exam questions, HKSI LE Papers 1, 2, 6, 7, 8 test books are also sold, and one-to-one private tutoring services are also available , and made free YouTube/ Bilibili/ Tencent/ iQiyi teaching videos of HKSI LE Papers 1, 2, 6, 7, 8, 12. 2CExam has many years of experience in the securities, insurance and real estate industries. If students need help, please visit www.2cexam.com.hk or contact us by the following methods:
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