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 Job descripton for the Charter in Tranbsaction Services 
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Joined: 01 Mar 2013
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Hello
does anyone work or has worked or knows somebody who works in Tarnsaction Services and that has the CFA? i have no clue on what to write as job description in order to get approved. I just passed my level 3 in June.
It is hard because we perform financial due dilligences but no valuation so I don’t know how to highlight my added value in the investment process (I work as advisory for private equity fund or holdings wanting to sell or acquire another business). i do that in a Big 4 company.
please, help me
Sophie


17 Mar 2013
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Joined: 01 Mar 2013
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you’ve semi already answered your own question - and performing ” due diligience ” is fairly vague but..
you don’t necessarily have to ” value” anything - the key question that needs to be answered is ” how does what you do ” add value to the investment process “.
so be specific about what you do - and answer that question - some questions you need to answer…
who’s your audience ? how does your audience use the work you do to add value to the process? how and why is what you do important to that process? in what way does it benefit your audience ( i.e the end users/ decision makers /clients). does what you do support a decision process ? how ? how does your role and your output benefit the process ? why and how does it make that process or decisions more efficient, effective, more informed etc etc
or reverse it and then reverse it again ( if that makes sense )…. sometimes it’s easier to think that way
- as in - ” if our process didn’t have the output of my work - how does the process suffer ? ” - think of the value that would be taken away - or how the process would be affected adversely - then it becomes clear where your value add is - does that make sense ?
that’s a vague answer ( without knowing specificall what you do and who you do it for )
but if you start thinking along those lines it can start to become a little bit clearer
hope it helps.


17 Mar 2013
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Joined: 01 Mar 2013
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I would emphasise adding value for the client in the context of SPA with the usual underlying earnings - net debt - wc analysis that come out of a dd report.
You can directly link that to the CFA curriculum.
Although sometimes nobody reads our reports, as the buyer shows it to the bank and the bank doesn’t give a sh!t. They just need it for compliance reasons.
(I’m also big4 TS)…


17 Mar 2013
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Hello Vicreroy… cannot you give me what summarize you gave the CFA institute…? please…


17 Mar 2013
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^^^
Lol I’m detecting that my syntax is being loled at. Was is that bad ?
I never summarised anything, as I am still a level III candidate. The stuff is I came up with was just off the top of my head. Just be a little creative.
…..Are you serious ???


17 Mar 2013
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Financial due diligence is providing analysis for the client to make an optimal investment decision, so I would just summarise the analysis that you do. Financial statement analysis, analysis of forecast assumptions, working capital and other issues consistent with the target or acquirer’s strategy is all consistent with the CFA curriculum. While you may not do the valuation calculation, you provide the assurance around the inputs to the valuation model of your client, so you are adding value to the investment decision.
PwC only offers the CFA qualification to staff in Corporate Finance, TS, or Financial Risk Management, as these departments are aligned to the curriculum, so you should have no problem getting sign-off.
Then as soon as you get sign-off best to get out to a higher paying job. Big 4 TS destroys your life and doesn’t reward you at all financially.


17 Mar 2013
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^^^^^
You Sir, know exactly what you are talking about…………..except for one thing:
My big 4, which is not PWC, is sponsoring my CFA exam.
But to be fair you are right, since they don’t offer it anymore. I was the last one in my department. My colleagues have to do the very pimp ACCA.


17 Mar 2013
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what do you think i am trying to do..? i am at E&Y and I can tell you after a layoff plan the atmosphere is even worse…
i am just hesitating between goign to bank or corporate world. and how to leverage my cfa… lot of thoughts…
thnaks for the help
personnaly they would refund my cfa 50% when you register and 50% when you pass. but not training neither books were included


17 Mar 2013
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I am also trying to leave.
Because of the crisis there are too many staffies for too few projects, so almost everything that requires analysis is done by managers/ advanced assistan managers.
Associates are ending up doing garbage work. I have hardly learned anything in months.
To their credit they haven’t fired anyone, and what is happening is a logical consequence of that. I just don’t want part in it.


17 Mar 2013
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I left Big 4 TS about 5 months ago after 3.5years. Was sick of being forced to work 7 days a week, 15 hours a day for the pathetic salaries that Big 4 offers (was getting about the equivalent of an auditor).
Immediate 40% pay rise and less hours going to corporate role. Only downside is that although my role has 60% plus corporate finance component I have heard that CFAI hates to sign off corporate experience. So I may be left a few short months of experience short of getting the charter. But it is not worth it for me to do that much more time in a Big 4 TS role.
The big catalyst for me was that PwC then slashed the bonuses to basically zero and told us that we were lucky to have a job because it was the recession. Despite the recession our low staffing levels meant that we were working harder than ever before. TS is good experience but only for a couple of years max.


17 Mar 2013
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