Goal
The banking and finance industry in the Middle East and especially in Saudi Arabia still has not considered women as viable investment partners, a fact that has contributed to the inequalities that are inherent in the incomes of the different genders, (Madura, 2009). My goal is to start a non-profit organization that advocates for financial equality as well as advancing cheap finance to women in the Middle East who most of the time find it hard to access credit. The institution which will also have diversified investments is supposed to be solid enough to advance long-term as well as short-term loans to women.
Current Education
Bachelor’s degree in finance.
Required Education
- Masters in Strategic Management.
- Ph.D. in Financial Engineering.
- Certification from the Certified Financial Analysts’ institute.
Current Skills
- Knowledge of basic financial statements analysis.
- Excellent program management skills.
- Excellent leadership and delegation skills.
- Sufficient knowledge of business plan construction.
Required Skills
- Advanced knowledge of strategic management.
- Advanced knowledge in Islamic finance and insurance systems.
- Advanced knowledge in portfolio management.
Step 1: complete college and intern in an Islamic financial institution
I’m currently concentrating on my studies with the sole aim of completing my bachelor’s degree on time. This requires a commitment to strict assignment and project submission dates, as well as preparing well for my exams for the remaining two years of college. Upon graduation, I plan to take up an internship since this should open the door for me to explore the job market and since I still have very few commitments, I feel that interning for six months in an Islamic financial institution will help me to not only break into the job market but also to gain my first experience of working in a financial institution, where I can put my education into practice. I will also learn firsthand the basic operations of an Islamic financial institution as well as get as much knowledge as possible from all the experienced professionals around me.
- Target Completion Date: October 2013.
Step 2: complete the first CFA exam
While still interning in a suitable organization, I plan to apply to the Certification from the certified financial analysts’ institute, which is an institute of the global association of investment professionals. Since this is quite a prestigious accreditation, it would boost my viability in the finance job market as well as boosting both my knowledge in finance and my analytical skills. Since I will still be working as an intern, I plan to apply online through the institute’s website as well as order books on the coursework. With my background and my bachelor’s degree, I believe that it will not be so much challenging to study without an instructor. This will also help me in effectively achieving my other planned educational milestones.
- Target Completion Date: December 2013.
Step 3: Three and a half years of permanent employment
While still working as an intern, I will apply for permanent employment in Islamic financial institutions in Saudi Arabia starting with my place of internship. Once I receive an offer, I will utilize my time by attending all seminars and training programs provided, which will boost my knowledge base and consequently, my CV. This will also help me in forming professional networks with other people in the financial sector as I realize that to succeed with my long-term plans I will have to gain contacts that I can utilize in the future while breaking into the financial market.
- Target Completion Date: July 2015.
Step 4: pursue a master’s degree in strategic management.
In my three and a half years of employment, I will try as much as possible to live within my means and try to save some money for my higher education. My savings, coupled with funding from my employer should be sufficient to cater to my post-graduate degree which I will take on an external learning program in a university in Saudi Arabia. This would allow me to continue with employment while still undertaking my studies which will take about three years.
This will help me in gaining the much-needed knowledge in better management of the project that I plan to later pursue. It will also place me in a better position to make informed decisions on how to establish a financial institution. This time will also be spent on soliciting the opinion and advice of professors on the banking and finance industry in the Middle East and especially women’s financial empowerment.
- Target Completion Date: October 2017.
Step 5: Complete the second CFA examination
As soon as I finish my postgraduate degree in strategic management I plan to sit for the second CFA exam which should take me a step nearer to full certification and with the experience I will have gained in the job market as well as with my studies in strategic management I believe that I will be in a better position to effectively pass the exam. This will help me in securing a better position at work since it boosts my CV, which I plan to use as a bargaining tool.
- Target Completion Date: December 2020.
Step 6: Four years of experience as a portfolio manager at a financial institution
After I’m done with the second CFA exam, I plan to apply for the position of portfolio manager in a financial institution in Saudi Arabia, which would expose me to portfolio management practices such as re-balancing portfolio techniques, educating clients about their portfolios, using different instruments, capturing clients’ risk tolerance level, matching clients’ needs with the portfolio risk and return levels, and other skills that come with the day to day challenges related to the job and handling clients. This will hopefully give me the much-needed experience in designing, procuring, and advancing financial instruments which I will apply when I later start my project. This will also boost my contacts as I will still keep on fostering relationships with people in the financial sector.
- Target Completion Date: December of 2022.
Step 7: Pursue a doctorate in financial engineering
Later, I plan to pursue a doctorate in financial engineering probably in a university in Britain to widen my scope on financial institutions. I believe that pursuing my studies in Britain will expose me to a variety of cultures, which will not only broaden my experience but will also break the monotony of Islamic environments. Financial engineering is one of the new studies in finance that will help me with the effective management of a financial institution.
- Target Completion Date: July 2024.
Step 8: Complete the third CFA exam
After completing my doctorate, I plan to finally sit my last CFA exam which upon my success I will be a certified financial analyst. This period will also be spent scouting for other like minds among the other CFA students and the contacts I will have gathered so far, who will help in the furthering of my goals of the establishment of a financial institution.
- Target Completion Date: December 2024.
Step 9: building my business idea as well as undertaking feasibility studies and writing a business plan
Since by the time I’m done with my doctorate I will have already gained the basic knowledge on the establishment and running of a financial institution, this step should not take too long, and hopefully, it will be completed soon after I have sat for my last CFA exam. I will incorporate my experience in the financial sector in the Middle East and especially in Saudi Arabia for the successful completion of this stage. According to Madura, (2009), the feasibility studies will help in understanding the market to come up with a strategic plan that will be tailored for the particular female Saudi Arabian market.
- Target Completion Date: January of 2025.
Step 10: sourcing funds from investors and applying for government licenses
This is one of the most challenging parts of my venture and it will need the utilization of not only my education but also my experiences in the financial sector as well as the contacts I will have gathered throughout my career. I will be open to any partnerships so long as the aspiring partners have the same vision and goals as mine. This is supposed to make the process of establishing the institution fairly easier.
- Target Completion Date: January 2026.
Reference
Madura, J. (2009). International Financial Management. Upper Saddle River: Cengage Learning.