In this episode of the podcast, Ahmed Attar talks to Professor Faisal Al-Jasser, who shares his experience in the world of finance and business, recounting his professional journey from his beginnings as an employee in the banking sector to founding his own company in financial risk consulting. Al-Jasser discusses the challenges he faced throughout his journey, both in terms of work pressure and the need for quick responses to financial communications and transactions. He also addresses the importance of rapid response in the financial work environment, and how those moments were akin to the final match of the World Cup in terms of tension and competition.
The conversation touches on various topics, such as the importance of career planning, modern trends in the finance world, including the role of artificial intelligence and financial technology. Al-Jasser also discusses how to maintain personal and professional motivation in the face of challenges, and the importance of specialization in the financial field to achieve success.
Al-Jasser emphasizes the role of knowledge and continuous learning as essential factors in professional excellence, stressing the need for a clear plan to achieve professional goals. The episode includes a collection of ideas and experiences that can inspire listeners, whether they are students looking to enter the job market or professionals seeking to advance their careers.
Beginnings in the Financial Sector
The career path in the financial sector often begins with a variety of field experiences, where individuals gain their skills through foundational jobs that allow them to interact directly with the financial system. One of those beginnings is the role of a “dealer” in the treasury, where an individual becomes responsible for managing calls and financial transactions. Through this role, the employee is exposed to fast-paced work pressure, requiring them to respond quickly to calls and seize available opportunities. For example, the pressure can be similar to what happens in a final match, where everyone must be on alert to pounce on opportunities. These initial experiences enhance the individual’s abilities to cope with pressure and provide immediate responses, which are essential skills in any financial work environment.
Career Development and Financial Specializations
Over time, individuals can transition from foundational roles to more specialized positions, such as working in financial derivatives. This transition is a significant shift in the career path, requiring a deep understanding of complex financial products and how to market them to major corporations. Individuals must learn how to analyze markets and predict trends, which enhances their standing in the field. The challenge here lies in how to translate the knowledge and experience gained into practical applications that help companies safeguard their funds and increase their profits. This career shift requires continuity in learning and self-development, as the financial market is in a constant state of change.
Establishing Companies and the Challenges They Face
Some individuals have established independent companies in areas such as financial risk consulting, representing a bold step that requires courage and clear vision. This trend is considered a major challenge, especially in the presence of traditional business models followed by many. Establishing a new company requires innovation and thinking outside the box, as entrepreneurs may face obstacles in marketing and defining the unique value they offer. These challenges include the ability to attract clients and convince them that their services are different from others. For example, it may require developing new strategies to attract large and medium-sized companies, necessitating a deep understanding of their needs and providing innovative solutions that meet those needs.
Professional Difficulties and Challenges
Difficulties are an integral part of any career path, as individuals face various challenges related to work and the surrounding environment. For example, challenges may pertain to understanding the market and adapting to rapid changes within it. Additionally, managing the psychological pressure resulting from high competitiveness in the financial sector is considered one of the primary challenges affecting personal performance. Success in this context requires effective strategies to cope with pressure, such as good time management, prioritizing tasks, and leveraging social support. Striking a balance between professional and personal life is crucial for maintaining mental health and achieving long-term success.
Trends
The Future in the Financial Sector
With the advancement of technology and the evolution of financial markets, it is important for individuals to be aware of future trends such as artificial intelligence and financial technology. These areas are rapidly evolving and open up new opportunities. Financial professionals need to be flexible and able to adapt to these changes. For example, blockchain technology may be among the developments that significantly impact how financial transactions are conducted. Success in this context requires investing time and effort in continuous learning and developing the necessary skills to adapt to this changing environment.
The Importance of Career Planning and Specialization
Throughout one’s career, it is important for individuals to have a clear plan for their professional future. This requires setting goals and focusing on what they want to achieve. Good planning can help direct efforts toward specialization in certain fields, enhancing an individual’s position in the market. For example, a person may wish to specialize in financial consulting or data analysis, each of which requires a unique set of skills. A focused specialization can enhance the chances of obtaining leadership positions in the future, as the individual has gained deep experience and knowledge in their field.
Career Direction and Choosing a Major
When it comes to determining a career path, specialization choices are a critical part of this journey. At the beginning of the discussion, a personal experience in choosing university majors was highlighted, where there was hesitation between studying law or finance. This stage of decision-making reflects significant challenges faced by many students, as they are forced to think about their interests and future skills. Despite an interest in law, the shift towards finance was a well-considered decision, as this was evident in the careful examination of available opportunities in this field.
When an individual chooses their major, they must consider various factors such as the job market, economic trends, and the potential for professional growth. For example, the decision to act more boldly by transitioning from studying law to finance may stem from a genuine awareness of the available opportunities in the business sector. Additionally, the experience of applying to study at a petroleum university represents a new starting point, as this step supported the provision of specialized educational opportunities.
In this context, the discussion can revolve around the importance of exploring the chosen profession and how to develop the necessary skills for that profession. It is crucial for students to interact with professionals in their chosen field and take advantage of available internship opportunities, which helps them build a network of professional relationships that enhance their future prospects.
Work Experience in a Bank and Job Evolution
Working in the banking sector is a unique experience, as it allows employees to gain insight into complex financial operations. Over time, employees face various challenges that require them to adapt and innovate. In this experience, it was discussed how working in a bank, specifically in the treasury department, requires strong analytical skills and the ability to think quickly.
The treasury job requires the employee to be knowledgeable about exchange rates and fast financial operations. The employee is subjected to varying pressures related to the volume of daily communications, which can amount to dozens of calls per day. Speed and accuracy in task performance are essential elements that affect work outcomes. A single mistake in reading prices or handling financial data can lead to significant financial losses.
Tasks within the bank vary, including dealing with clients and companies, and buying and selling currencies. Additionally, it is important for the employee to have the ability to understand the details of financial transactions and communicate effectively with other teams to ensure that the right decisions are made in a timely manner. For example, when receiving requests from clients wanting to buy or sell currencies, it requires precise market knowledge to achieve the best results.
The Challenges
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In the Work Environment and Adaptation
In the work environment, many employees face daily challenges related to adapting to corporate culture and the pressures arising from work. Regarding the mentioned personal experience, there was a reference to the psychological pressures that can cause anxiety, especially in the first months of employment. This phase requires the employee to develop their skills in time management and organization.
Working at a bank is an opportunity to enhance communication skills, as employees are required to interact with a variety of personalities and situations. It is essential for the employee to handle pressures professionally, as some calls may come from angry clients or those with special needs. The ability to manage these interactions correctly has a direct impact on the bank’s reputation and customer satisfaction.
Moreover, discipline in the workplace is one of the fundamental factors contributing to success. Good performance relies on adherence to deadlines and the ability to manage tasks efficiently. This type of work requires continuous effort in learning and adapting to rapid changes in the financial market. Training programs can play a significant role in developing these skills, helping new employees adapt more quickly to the work environment.
The Importance of Discipline in Work
Discipline is one of the core values that contribute to success in any field, especially in the work environment. Discipline includes adherence to deadlines and the meticulous performance of assigned tasks. For example, if the work starts at eight o’clock, arriving at this time or earlier is an indication of discipline. Being late, even by a few minutes, can impact workflow and reflect a lack of commitment. Discipline also helps in building a positive reputation among peers and clients. For instance, when an employee adheres to their schedules, they gain trust and respect from colleagues, which fosters a collaborative work environment.
Additionally, discipline helps improve productivity. When there is discipline regarding work hours, employees can plan their tasks better and increase their productivity. For example, if there is a commitment to meeting schedules, there can be effective exchange of ideas and good planning of objectives. Ultimately, discipline acts as a crucial element in achieving positive results and enhancing overall performance.
Financial Derivatives and Their Evolution
Financial derivatives are among the most important financial instruments in today’s markets, coming in various forms such as options and future contracts. Through these instruments, investors can hedge against risks or take advantage of market fluctuations. For instance, when entering the market, an investor buys an option contract that grants them the right to buy or sell a specific asset in the future at a predetermined price. These derivatives derive their value from underlying assets such as stocks or commodities, making them effective tools for risk management.
Historically, financial derivatives began as a means for farmers to protect themselves from price fluctuations. They would agree on specific prices for their crops before harvest, helping them reduce risks. Today, these instruments have evolved to encompass a wide range of financial assets, making them a fundamental part of the investment strategy for large institutions and individuals alike. However, investors must be aware of the risks associated with trading derivatives, as these instruments can be complex and require a deep understanding of the market.
Communicating with Clients and Understanding Their Needs
Effective communication with clients is one of the key factors contributing to the success of any business. An employee’s role should not be limited to providing products or services; they must understand the clients’ needs and aspirations. For example, when an employee communicates with a client, they should strive to understand the nature of their business and the pressures they face. Through this understanding, the employee can offer tailored solutions that better meet the client’s needs.
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Building strong relationships with customers enhances trust and increases opportunities for success. When a customer feels important and their needs are taken into consideration, they will be more inclined to engage with the same company again. Regular communication and follow-up with customers can have a positive impact on the relationship, leading to new opportunities and increased sales. Ultimately, focusing on customers and understanding their needs is one of the key elements to achieving sustainable success in the market.
Challenges in the Workplace and Adapting to Them
Organizations in the modern workplace face a variety of challenges, such as rapid changes in the market and technology, requiring employees to continuously adapt. Flexibility in dealing with these challenges is a key trait that reflects an employee’s ability to persist and achieve goals. For example, an employee may find themselves in a situation that requires learning new skills or using advanced technological tools to achieve better results.
Adapting does not only mean responding to changes but also requires critical thinking and innovation in finding new solutions. For instance, if there is a shift in the company’s strategy, the employee must be able to understand how they can contribute to this change by developing their skills or improving their performance. Sometimes, it may require stepping out of the employee’s comfort zone, which can be a real challenge. However, the ability to adapt to change is considered one of the qualities that distinguish successful individuals in the workplace.
The Idea of Creativity and Its Implementation
When an idea forms in a person’s mind, it requires internal motivation to implement it. The feeling of ease and the tension resulting from not executing the idea can create an internal anxiety, as the person realizes they are betraying themselves if they do not respond to this idea. The idea often recurs in the mind, indicating that it is not merely a fleeting thought but represents something important that needs to be executed. For example, this idea may pertain to a new project, improving an existing product, or even changing a lifestyle. The determination to implement the idea is part of creativity, and it requires courage and strong will.
The Knowledge Gap in Financial Fields
The knowledge gap is considered one of the biggest challenges facing many institutions, especially in the field of financial services. This gap refers to the lack of complete understanding by customers regarding the financial products offered. Although banks and financial institutions strive to provide information, challenges remain. The knowledge gap sometimes leads to negative effects on customers, such as making poorly-informed financial decisions that could result in significant losses. Therefore, providing the necessary education and knowledge to customers is vital to bridge this gap and enhance trust in financial transactions.
The Importance of Customer Independence in Decisions
Independence in financial decision-making is one of the important aspects that helps customers make informed choices. When a customer feels that they are independent and can make decisions based on the information available to them, they become more capable of assessing different options. This independence helps build trust between customers and financial institutions. For example, when a neutral financial advisor provides advice, the customer feels they have been considered, which strengthens their decision. Ultimately, independence means that the customer has the ability to make the right decision based on a complete understanding and awareness.
Risk Management in Financial Institutions
Risk management is a fundamental part of the success of any financial institution. While institutions strive for growth and profit, they also need to evaluate potential risks they may face. Risk management includes identifying risks, assessing them, and developing strategies to mitigate them. In recent years, there has been greater focus on tools like financial derivatives, which can be beneficial if used properly but also carry significant risks if not well understood. Good training, a deep understanding of the market, and relying on experts in this field are essential steps to ensure the sustainability of financial institutions.
Challenges
Beginnings in the Business World
The start of any business project comes with a set of challenges. In the case of establishing a consulting firm in the field of financial risks, the challenges may be doubled due to the lack of clear demand for such services. It requires significant effort to create awareness about the importance of these services and how they can add value to the client. Through effective communication, good marketing, and providing high-quality services, long-term success can be achieved. For example, if the company can present a case study showing how it helped a client avoid significant losses, this story will contribute to building trust and increasing demand.
Employing Competencies in Financial Institutions
Hiring qualified competencies is a critical factor in the success of any institution. The profession in financial risk management requires a high level of training and experience. Therefore, it is important for institutions to seek individuals who are passionate about work and capable of providing added value. The challenge lies in how to find and retain these individuals. This requires creating an attractive work environment and providing opportunities for professional development, ensuring that employees feel they are part of something larger. This can lead to positive outcomes in the long term, as creative individuals contribute to developing new strategies and enhancing innovation.
Transformation and Adaptation in Financial Markets
Financial markets experience continuous changes that require institutions to adapt to new conditions. The ability to innovate and adapt to changes is one of the essential skills financial institutions need. Digital transformation, for example, has become imperative, as customers expect faster and more efficient services. Failing to adapt to these changes can lead to losing customers and impacting the institution’s reputation. Therefore, it is crucial for institutions to be ready to periodically assess their strategies and modify them as needed to ensure continued success in a competitive environment.
Lessons Learned from Past Experiences
The experiences of individuals and institutions provide valuable lessons. Through continuous performance evaluation and learning from mistakes, the ability to adapt and grow can be enhanced. In the business world, failure may be part of the journey, but it offers opportunities to develop new strategies and improve performance. Institutions should embrace a culture of continuous improvement, where employees are encouraged to share ideas and lessons learned. This contributes to building a work environment that fosters collaboration and creativity, ultimately leading to greater successes.
Challenges and Opportunities in the Fintech Sector
Many startups in the fintech sector face significant challenges related to operational and credit risks. Although the emergence of new technologies is a positive thing, it also brings with it a set of risks that companies must manage effectively. For example, automation and digital transformation may improve efficiency, but at the same time, it could lead to job losses or exacerbate cybersecurity challenges. Companies need to be aware of these challenges and take proactive steps to protect themselves from potential negative impacts.
There are significant opportunities in financial markets, especially with increasing interest from countries in developing debt and derivatives markets. These markets provide the potential to attract investors and expand financing options available to companies. However, this direction also requires a deep understanding of financial markets and how they operate. Companies must be ready to respond to market changes and adapt to evolving conditions to achieve success in this dynamic environment.
The Importance of Specialization and Knowledge in Financial Developments
In a rapidly changing world, specialization in certain fields becomes essential. New professionals in the financial sector should identify their areas of interest and specialize in them to increase their chances of success. For example, there can be significant opportunities in the field of insurance or financial risk management. These fields require not only theoretical knowledge but also practical experience to understand how the market actually works.
Specialization
Acquiring knowledge alone does not mean, but also developing practical skills. New professionals should strive to gain diverse experiences through training or working in different environments. This can give them a competitive edge in the job market and enhance their ability to innovate and adapt to rapid changes in the financial sector.
Balance Between Personal and Professional Life
It is essential to maintain a healthy balance between personal and professional life. This balance directly affects creativity and productivity. For example, when individuals feel a balance between work and life, they are more likely to focus and be creative at work. Thus, it becomes important to allocate time for rest and communication with family and friends, which helps to recharge mental and physical energy.
Balancing does not just mean splitting time between work and rest but also focusing on personal and professional goals simultaneously. Individuals should prioritize their objectives and work towards achieving the goals that enhance their overall well-being. Through this practice, individuals can build a successful professional life without sacrificing important aspects of their personal lives.
Future Trends in Financial Markets
The financial markets are undergoing significant transformations in terms of innovation and technology. Fintech is expected to continue growing rapidly, requiring professionals in the field to be aware of new trends in the market. For instance, many companies are moving towards using artificial intelligence and data analysis to improve investment decisions and provide customized financial services.
Moreover, innovations in the field of digital currencies and blockchain technologies represent a significant opportunity for investors and companies. These technologies not only provide new investment opportunities but also regulatory challenges that require companies to be flexible and capable of adapting to new laws. Therefore, it is crucial for professionals to stay updated on developments and changes in this field to ensure their competitive ability and capitalize on new opportunities.
The episode was summarized using artificial intelligence ezycontent
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