George Mak, Vice President (Compliance), BlackRock
Q : Why did you join an asset management company and become a compliance analyst?
A : In 2014, the Compliance Department of BlackRock was hiring summer interns. At that time, I did not know much about compliance and so I went online and checked. I realised the global financial regulatory environment was being tightened and the compliance related area was continuously growing. The outlook seemed good and so I applied for internship.
Unlike investment banks, BlackRock does not hire a large amount of interns. As long as the performance is good and there is a suitable opening, interns are highly likely to be hired again after graduation. In 2015, I officially became an investment strategy compliance analyst of the Asia-Pacific region.
Q : What is compliance analyst's work about?
A : My duty is mainly about regulatory control during the process of investment and trading and making sure the works of the frontline sales and investment team comply to related laws, regulations and the requirements of the Securities and Futures Commission. For example, when a colleague gets hold of a piece of material non-public information (MNPI). Since the information is not disclosed to the public yet, if anyone trades and profits from this piece of information, that constitutes insider trading.
In such situation, we have to set up an information barrier. The colleague who gains that piece of material non-public information must report it and we will keep it to the fewest people possible so that colleagues who do not know of that piece of information may trade as usual. Even if they are trading related stocks, it will not constitute insider trading. This is a protection to the internal investment team.
Q : Have you experienced any unforgettable challenges?
A : In July 2016, the European Union officially implemented Market Abuse Regulation. Since our investment activities are global, I had to work closely with my compliance colleagues in Europe. At the same time, I had to understand the content of the new regulation and evaluate its impact on other regions, so that we may evaluate whether the original compliance structure of the Asia-Pacific region should be enhanced. It was a rare opportunity that allowed me to participate in something that involve the global, regional and local levels. The process also allowed me to learn effective communication skills.
Q : Do you have any suggestions for university students?
A : First of all, they have to understand their personality and career goals. That will make it easier for them to leave an impression within the short 30-minute interview. They should not be frustrated by their failure in previous interviews because these are all a process of learning that may help them to perform better in the next interview. Besides, they should pay attention to the latest development of the market because that does not only affect the frontline or any individual department but the whole company.
Education Background:
Bsc in Quantitative Finance, The Chinese University of Hong Kong, 2015
Professional Background:
Compliance summer intern in BlackRock, 2014