My First Step to be a Financial Professional — CFA level 1
It was September 2019, when I registered for the first level of Chartered Financial Analyst (CFA) program. I knew it will be difficult, especially for someone like me who doesn’t have finance or economics degree as my background. But I thought, “it is okay, the exam is still in June 2020. I have got plenty of time to catch up, just need to make some adjustment to my daily routine.”
And that was what I did. After getting married in October 2019, I moved to Bank of China (Hong Kong) Jakarta Branch in November 2019. Leaving Bank Mandiri is certainly risky considering my preparation for the first level exam. I had been in Bank Mandiri for almost five years, I know the process, and fully aware of the high season cycle there. I should be able to time my schedule well if I had chosen to stay. However that September, a head-hunter reached out thanks to LinkedIn. It was an opportunity to contribute at one of the biggest bank in the world. In the interview, I found that I will still handle Corporate customers, so I thought, “This is a good chance for me. Bigger name, the same responsibility. I should still be able to prepare for my exam there”.
So I make the decision to resign from the bank which has become my family and home for the past five years.
However, it turned out to be very challenging. As expected from the branch of the fourth biggest bank in the world (in terms of asset), their expectations are so much higher. Even in this difficult time because of the global Covid-19 pandemic, we are encouraged to grow our portfolio sustainably. As of this writing, I can say that we are on the right track. However, it came with a price, in which I have to sacrifice my study plans, even during weekend. The culture is definitely different here. On February and March 2020, I started to get panicked because my studies were behind schedule. For a month there, I decided to sleep an hour later and wake up an hour earlier than usual, a routine that costs me my health. It was ironic when I thought about that time, as I was sick, I was not allowed to go to the office for three weeks (two weeks quarantine after recovery).
Marriage life, work challenges, and exam preparation might be too hard for me to handle. It was the first time I thought about giving up the exam.
Then the news from CFA institute came on March 19th, 2020. The June 2020 schedule will be moved to either December 2020 or February 2021. There was no word to express my gratitude at the moment. Just a few days before, I had told my fellow level 1 candidates, “THIS IS TOO HARD FOR ME!” and when the news came, suddenly I felt like, “THIS IS MY SECOND CHANCE!” So I immediately changed my schedule to December 2020.
As of June, things were looking good for me, I’ve got used to my new routine. However after that, things in the office started to get out of hand, the Head Office is getting stricter with their monitoring and risk appetite. I had to stop my exam preparation for a month. The problem was, when I finally began my study after “slacking off” for a month, I realized that I had forgotten most of the exam material. My lack of basic in economics and finance started to show the impact.
Then another bad news hit our life, my wife will lose her job by the end of July.
Feeling confused with my priorities and heart-broken, I had a long chat with my close friend on August 1st, 2020, and finally told him, “I know I am playing victim here, but seriously, this exam preparation has become a burden to me. I think the best option right now is to let go of one of my burdens. I will give up on this exam.”
And once again, a good news from CFA institute came on August 5th, 2020. Candidates will be able to reschedule the exam date, and we are given time until October 20th, 2020 to decide. Who would have thought that there will be a third chance for me.
It is a “sign” telling me to focus and put all my efforts to pass my first step to be a financial professional.
I haven’t decided on my new date, but I will definitely take the challenge!
Wish me luck!
To all candidates, let’s work hard to pass all CFA levels and become CFA charterholders!
p.s. For more information about CFA institute program, you can find them at https://www.cfainstitute.org/