Yet another career move question, I’m not sure if that is a correct move and I’d like to have some views. Thanks for you answers. I’ve been working for two years in south France as a management accountant for one of the largest semi conductor builder (quoted in NYSE and Euronext Paris) I’d like to make a move in the finance industry, moreover here the engineers are highly regarded and anything else is just necessary expenses (trust me that is not an overstatement … ) Anyway I just get an offer from a conglomerate (insurance/bank/investment management) for an internal audit position. Based on the job description I’ll be involved in the audit process (both operational and financial), a bit of compliance duties as well as some profitability/cost analysis. Also I’d report to both local senior financial mgt and to Paris HQ. (I’m at office now and cannot translate the whole job description sorry) I still need to clarify some points with the HR department, but I’m wondering if this kind of mixed back/miiddle office job won’t tag me BO for good ? I don’t think this experience counts toward hte charter nor if it will help me to land a more front office position some time On the other hand I’d get into the industry and won’t see the year end bonus going only to the engineers or physics PhDs… Last point worth mentioning, I’ll get an expatriate package as they ask me to move abroad. What do u think ?
any help please ? I know that is not in line with the jobs people on this forum want, but can it work as a first step go gain experience while I pass some level of CFA ?
I think it’s a good move. I am contemplating a very similar move myself, coming from fixed income quant and risk management. I think you will learn a lot in internal audit, and it will be good experience to have on your resume for a finance career.
Thanks DoubleDip !! I am concerned that this role might get me glued to this realm of finance What kind of position will you be looking for after internal audit ?
D’Artagnan Wrote: ------------------------------------------------------- > any help please ? > > I know that is not in line with the jobs people on > this forum want, but can it work as a first step > go gain experience while I pass some level of CFA > ? You would be better off working for one of the Big 4 accounting firms. This is a step down from that in terms of the likelyhood of a future finance career, but it shouldn’t be impossible. In France it will probably be harder than in other countries to move into a more analytical finance role due to the nature of the grande ecole mafia. I assume you didn’t graduate from the parisiennes or lyon.
Danteshek you are kind of right about the “grande école” but I cannot really say anything as I’m from the 4th ranked school over here… Also regarding your Big4 point: the company I’m considering is Axa financial. Do you think they are below a Big4 ?? (I interviewed with one of them and wasn’t retained … 
Edit: U assumed well with Lyon
Not sure … probably move back onto the business side in risk management/economic capital. But internal audit experience is something I have been lacking and the people I have met from that field seem very sharp. You will see everything in internal audit, and get exposure to the entire business, I hope. The company I have been talking with is looking for quants that understand the complex products, so that’s how I am trying to get in. Anyway, it beats my current field of mortgage finance …
DoubleDip Wrote: ------------------------------------------------------- >… Anyway, it beats my current field of mortgage finance … Same here, especially when u r considered as the 5th wheel of the carriage
D’Artagnan Wrote: ------------------------------------------------------- > Danteshek you are kind of right about the “grande > école” but I cannot really say anything as I’m > from the 4th ranked school over here… > > Also regarding your Big4 point: the company I’m > considering is Axa financial. Do you think they > are below a Big4 ?? (I interviewed with one of > them and wasn’t retained … > > > Edit: U assumed well with Lyon Axa is a blue chip company all right. Internal Audit is less consultative/independent in nature than external audit, and is therefore not as respected. The experience coming from the outside on assignment is more varied and therefore you learn more (I would think). Internal I think you would learn quite a lot about AXA and perhaps the insurance industry as a whole. You might be able to leverage this experience into something focusing on the insurance sector, or just try to rise through the financial management ranks at AXA. CPA or its French equivalent will help you more there than CFA. If I were you, I would only worry about CFA after you have the accounting designation necessary to move up in AXA.
D’Artagnan Wrote: > Edit: U assumed well with Lyon Je ne comprend pas. Tu dis que tu as fais Lyon? (J’ai habite en france six ans avant de retourner aux states quand j’avais 14 ans. )
I agree with the above posters. I think you should take the job. I would work for an insurance company over a builder any day if those were my only options.
Thanks Danteshek !! Yeah I studied at EM Lyon but specialised in mgt accounting rather than finance (I regard it as sunk cost now … ) I’m also pursuing the CIMA (UK mgt accounting) qualification as well but I’m almost done with it, I just need the final exam but I have to gain qualifying work experience to be allower to write it. (that is why I’m working for CFA now) for the CPA I can get lots of exemptions for previous learning but so far I never felt the need to claim them … I know it would be better to seat the exams but I’ll well busy now and don’t need another set of challenging exams lol Anyway I will always be able to move on to something else after level 2 ou 3 thanks for ur advices
You’ll be ok… Don’t regard your education as a sunk cost. I suspect your Lyon affiliation will come in handy. Be a good ambassador for CFA in France. I don’t think the designation has much traction there.
I guess it is well recongnised by the investment community that worked abroad. Also the “Parisiennes” (HEC, ESSEC and esc Paris) are partners of the CFAinstitute and hugely increased CFA popularity over here. I don’t know how many people took the exam in Paris last week Anyway I want to move abroad as I’m a bit fed up with the French (eg: almost 50% taxes, impossible to make some grocery shopping after 9pm, malls have to close on sundays because of unions’ repetitive strikes and yes they r on strike again tomorrow … ) Edit: I forgot the best part about France: Jerome Kerviel walkd free and is already on a €€€ financial security consulting job in Paris and Daniel Bouton (SocGen excutive director) is still seating at this top position when anyone else in another country would have had his as%#! kicked
I would consider going back to France if the USD were stronger. I applied last year to the schools through Service Admission Internationale but was rejected, probably due to low math GMAT. The process was extremely cursory. Too bad. I’ll probably never go back now. I went to a Louis XIII cognac tasting in Los Angeles the other day. It made me miss France… but only a little bit.
yeah the SAI is horrible !! competition is really really fierce as once u r in u can ask to enroll in their dual programme of international exchange. U would end up with a twin degree from ur school in Paris and say Stern or Columbia for only €14k. (I think the MBA programs are more expensive but still dirt cheap compared to US or UK regular prices)
I did look at the MBA program at HEC. I just can’t justify paying US prices for what is essentially an undergraduate program on par with the MSc. and no recognition in the US (or France for that matter). I’m not sure it is feasible for an french speaking American to go to HEC MBA and find post MBA level work in France, at the same level one could find in the US.
D’Artagnan Wrote: ------------------------------------------------------- > yeah the SAI is horrible !! competition is really > really fierce as once u r in u can ask to enroll > in their dual programme of international exchange. > And I think preference is given to the French diaspora and former French colonies. Americans like myself who speak French but don’t have any French heritage are generally not considered.
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