Báo cáo thực tập trường Đại học Hà Nội, Công ty cổ phần Chứng khoán FPT dành cho các bạn sinh viên chuẩn bị ra trường có thể tham khảo, tài liệu đã được nộp cho trường Đại học Hà Nội, điểm đạt được là 9.510. Chúc bạn đạt điểm tốt
INTRODUCTION
Brief history, vision, mission
FPT Securities Joint Stock Company (abbreviated as FPTS), a member of FPT Corporation, is authorized to organize and do business under the State Securities Commission's License, which was issued on July 13, 2007 FPTS was formally listed on the Ho Chi Minh City Stock Exchange (HOSE) in January 2017, stock code is FTS At the same time, FPTS officially moved to a new headquarters at 52 Lac Long Quan Street, Tay Ho District, Hanoi FPTS currently operates two branches in Ho Chi Minh City and Da Nang and four transaction offices, respectively In recent years, FPTS received typical securities, voted on by HNX (Hanoi Stock Exchange) and VSD (Vietnam Securities Depository) After many increases in the charter capital from VND 200 billion when it was established, FPTS had got more than VND 1,900 billion up to this point After nearly
16 years of expansion and building, FPTS consistently achieve great success, acquire the patrons' trust, and solidify its position as the top securities business in Vietnam In terms of market share for derivatives brokerage, FPTS was placed 7th on HNX in 2021 and maintained its eighth-place ranking among the Top 10 businesses The important milestones in the formation and development of FPTS over the years have affirmed the company's high and prominent position in the industry
FPTS aspires to become a powerful financial institution, with efforts to build staff and technology capabilities, to bring the highest quality products and services to customers and a full material life, spiritually rich for all members
Emphasizing on investing in improving the qualifications of staff and upholding professional ethics in order to increase customer satisfaction and trust Constantly investing in research, leveraging all technological strengths to create the highest-quality products and services, and providing customers with a convenient and safe, fast and accurate, fair and transparent trading system Become the number-one choice of domestic and foreign businesses and investors
Business sector and business size
FPTS is operating mainly in the securities area, including services for individuals and for business
In the context of the COVID-19 pandemic still taking place around the world, heavily affecting the supply chain of goods and the world economy, the Vietnamese stock market will still grow in both scores and liquidity in 2021, following the nearly published financial statement Therefore, FPTS ’s revenue rose from VND 403 billion to VND 1,387 billion, an increase of 242.84% compared to those in 2020, but decreased to over 851 billion in 2022 (falling at 38.63% compared to those in 2021)
There are nearly 500 employees, mainly university degrees and postgraduate degrees, who are well trained, have high professional qualifications, professional working style, and always bring the highest satisfaction to customers.
Products lines and market segments
The company’s range of products consists of: o Securities Trading, including margin trading, cash advance service, securities custody and investment advisory o Corporate Advisory, including Investment banking services (consisting of M&A advisory; divestment and auctioneering advisory; securities issuance and offering advisory stock listing) and corporate governance advisory (technology applications served for customers)
Utilizing its technological prowess, FPTS constructed an international-standard information technology system with transaction systems, serving a large number of clients at high speed via three channels: the physical trading floor, the telephone, and the Internet FPTS continues to keep a prudent approach to investment and selection of securities portfolios and apply security solutions to securities transactions with the purpose of putting more effort into improving the quality of services for customers
Regarding the market sector, FPTS continually aspires to provide the greatest service to all individual investors under the age of 18, businesses, and institutional investors locally and internationally The number of individual investor accounts in the nation will surpass 6.8 million by the end of 2022, or around 6.8% of the total population—more than in the preceding six years combined.
Competitors
Notwithstanding the global impact of the COVID - 19 epidemic on the commodity supply chain and the global economy, the Vietnamese stock market nonetheless had above-average growth in scores and liquidity in 2021 This means competitive pressure in the securities industry is more and more fierce However, into the year 2022, the securities market started to strongly fluctuate, the representative index of Vietnam's stock market, the VN-Index from 1,528.57 points in January
2022, decreased at 911.9 points in November 2022, equivalent to a decrease of 40.34% Therefore, any company operating in securities is also expected to attract a certain number of customers by updating digital technology and offering competitive service fees
Additionally, Despite of the fact that being under competitive pressure from other prominent securities businesses such as SSI, VNDIRECT, VPS, TCBS, etc or those new entrant companies, FPTS still affirms its position as one of the leading company in securities industry, in the top 10 securities companies with the biggest market share for many years running Besides, the emergence of financial apps like Finhay, Fireant, and Mitrade, etc also puts a lot of rivalry on this securities firms
Organization Chart
FPTS ’s structure is organized according to the following diagram.
PLAN
Investment Advisory Division
The headquarter of FPTS in Ha Noi is where I worked as trainee, being an investment advisor in Investment Advisory Divisions, in which Investment Advisory Department is one of the most important department in the company
Investment Advisors are responsible for introducing a securities company's services to clients in order to bring the company's income Additionally, they are required to somewhat familiarize themselves with data analysis, market volatility, and financial analysis at securities businesses From there, they may provide customers with valuable advice on investments decision while engaging in market trading
Internship Starting and Ending Dates
The internship period has lasted 2 months, starting at February 1st to March 31st, 2023, following the mutual agreement in the contract.
Orientation for Internship
Before being an apprentice, I spent a month learning for the Training Program for Potential Trainees that was organized by FPTS, and my expectation is to get an opportunity job in securities fields in the form of full-time jobs after that, I especially look forward to cultivating practical knowledge about securities and applying what I learned related to finance and banking with the purpose of improving my professional knowledge and experiences.
Training/ Coaching
During the period of my internship at FPTS, I was trained in the basics of the securities market, fundamental analysis, technique analysis, and soft skills in order to become an investment advisor
Fundamental analysis: business operations analysis, financial statements analysis, indicators for fundamental analysis, business valuation, microeconomics, macroeconomics, investment portfolio management, etc
Technique analysis: Trend, candlestick patterns, technical indicator, etc
Soft skills: Communication skill, investment advisory process, customer psychology analysis, customer acquisition skills, etc.
Internship Responsibilities
My responsibilities in the internship is listed below:
- Attending training sessions according to the apprenticeship route
- Completing daily tasks on time assigned by manager
- Participating in group sessions that are held internally
MAJOR ASSIGNMENTS
Duties and Responsibilities
One day of internship at FPTS started at 8:30 and ended at 17:30 from Monday to Friday, but it still has flexibility in time
My supervisor gave a topic related to economics, finance, or investment advisory work every morning, like investing channels, inflation and the effects on the financial market, stock market indexes and their meaning, or the investment consulting profession, and I had to research those topics themselves and design them as slides When I end my version of the securities market, I need to present what I learned in front of my manager and the members of my internal team After that, I and other members of my team would discuss and give comments on the presentation together before receiving evaluations from managers Personally, that makes me review and synthesize necessary knowledge for myself in order to prepare solid luggage for future work
Regarding the training program, I have a study schedule for topics such as business analysis, business valuation, portfolio structure, technical analysis, how to make analytical reports, how to analyze business models, and how to find customers and maintain relationships with them Before each topic, I had to find out and research knowledge related to those topics and prepare some questions to discuss in lessons with the supervisor and other interns (The details about the schedule will be expressed in the appendix.)
Assignments during the internship program
2.1.Assembling and analyzing listed company data
As it mentioned above, I participated the training sessions, which is the foundation knowledge of business operation analysis, financial statement analysis and stock valuation according to the apprenticeship route After each session, I proactively search for and analyze information about the company
TNG Investment and Trading Join Stock Company is the listed company I was assigned to analyze, whose stock code is TNG, listed in HNX (Hanoi Stock Exchange)
First of all, I began by outlining the major components of my study, which included an overview of the business, an analysis of the industry, an analysis of the financial position, an investment thesis, an analysis of the risk associated with investments, and a valuation of the company Then,
I conducted additional necessary information by consulting a number of trustworthy sources such as CafeF, Vietstock, the Vietnam Garment Association, or the company's website I gathered information, performed analysis, formed opinions, and generated my reports
I was trained in business operation analysis, which helped me get a comprehensive insight into the company, combined with the analysis of financial statements by financial indicators, which helped me better understand the firm’s financial situation From which I might use to formulate investment arguments and suggestions appropriate for each target customer's level of risk tolerance
However, one of the most perplexing problems I encountered when I was analyzing the firm was the forecasting and evaluating of the shares Thanks to the enthusiasm guidelines of my manager and the professional members in my team, I fully completed this parts relatively well
After researching and analyzing the firm, I proceeded to present for my internal team and Director of investment consulting department My presentation eventually received the relatively high assessment from the judges, especially the constructive criticism helped me to understand comprehensively necessary factors when evaluating a company
2.2.Investment portfolio consulting for clients
Regarding to this task, which is optional assignment I need to learn more about the clients who want to use their money to invest in the securities market and introduce them FPTS’s services
My friends, family, and family are the first clients I helped them gain a more thorough grasp of the investing field and its significance in personal financial management, which enabled them to begin to select the forms of investment for themselves
With the customer whom choose to open an account at FPTS, I provide them with investment advice in accordance with the investor's financial status and short- and long-term goals Then sent them analyst-approved analysis reports to refer and making investment decisions
Due to the consulting abilities being lacking, during working process for customers, I encountered some issues leading ineffectiveness with clients.
ORGANIZATION ANALYSIS
SWOT analysis
Lack of diversification sources of revenue
Lack of activities in marketing strategy
Growing demand for financial services in
Increase the adoption of digital platforms for securities trading and investment
Volatility in the global financial markets
Intense competition from both domestic and foreign securities firms
Technology has always been a priority since FPTS 's founding, which has always invested in and researched it in order to serve customers with safe, easy-to-use utility products and a stable operating system
The trading system can be optimally handled in all circumstances and is synchronized for both the underlying and derivative markets The fact that the system maintains stability even when traffic increases during times of high market activity is the most clearly proof Additionally, in the market, FPTS 's trading system is often appreciated by investors for its outstanding advantages including stability, high processing capacity, and real-time processing to assist clients in making decisions the best possible and especially confidentiality for customers
FPTS has developed an EzHRM human resource management system using its expertise in technology A human resource management tool called EzHRM aids in the professional and organized handling of all employee data by corporate executives such as personnel reports,
13 employee income reports, management reporting system, etc This human resource management software system has effectively supported FPTS 's Board of Directors and Human Resources Department in human resource management and building a professional working environment
Moreover, the technological system will eventually be modified, added to, and upgraded on a regular basis by FPTS 's technological center to better serve the demands of investors as well as self-employed That is considered FPTS ‘s core competitive advantage
Regarding staff development, FPTS has been persistent in establishing policies and procedures to ensure absolutely everyone has high standards for professional ethics Along with that, all staff receive ongoing training in knowledge and skills development so that FPTS becomes more and more a professional financial consulting service organization
First of all, FPTS always concentrated resources to create the greatest consulting team throughout the potential internship program, which is held about a few times annually in the finance and securities industry nationwide Through these training programs, FPTS is looking for talented and enthusiastic employees to continuously supplement the Company's staff
Along with encouraging internal training initiatives to help staff members advance their professional credentials and professional ethics, FPTS works to create a fair, open, and honest work environment The FPTS has created a clear roadmap for officers and workers to strive for and progress in all sectors and positions, from interns, apprentices, specialists, and experts to management levels Furthermore, in order to foster a sense of unity and improve communication among the company's employees, FPTS is also passionate about and supportive of the group activities infused with the FPT culture
Therefore, human development is anticipated to help FPTS put together a team of highly skilled individuals with strong work ethics who can successfully support investors
Lack of diversification sources of revenue
In recent years, FPTS has been concentrating on the 2 main revenue-generating services are brokerage and margin activities
Specifically, revenue from securities brokerage reached over VND
408 billion, accounting for more than 48% of the revenue structure in 2022, and revenue from interest from lending activities was
VND 519 billion, accounting for 60.15% of the revenue structure in 2021 Meanwhile, securities consulting services only account for a quite small part of nearly 4 billion VND and underwriting and securities issuance activities are unlikely to record revenue in 2022
Due to its primary attention on these two income streams, FPTS is significantly impacted by the poor stock market environment, and investors' expectations are pessimistic This demonstrates that
FPTS 's revenue diversification is not actually ideal for a securities business
Lack of activities in marketing strategy
When compared to other businesses in the same sector, FPTS has not run particularly effective media marketing campaigns for attracting in customers Promotion is essential for introducing goods and services to clients, even though the quality of services and systems is crucial for businesses in the securities sector
Some securities firms partner with universities to hold competitions to find up-and-coming talent such as SSI - SSI Securities Corporation, VCBS - Vietcombank Securities Limited Company, attracting considerable attention to their marketing campaigns on Facebook or YouTube However, apart from the annual potential trainee program that is advertised on the company's official Facebook page to promote the brand, it is extremely uncommon to see FPTS with advertisements on these social networking sites This might be viewed as a restriction on FPTS ' ability to use media campaigns to generate interest in consumers
Revenue from financial advisory activities
Revenue from securities investment consultancy
Revenue from guarantee, securities issuance agent
Growing demand for financial services in Vietnam
According to VinaCapital 's assessment, Vietnam has one of the fastest growing economies in the world, with an average GDP growth rate of roughly 6.5% per year in the years prior to the COVID-
19 epidemic Positive effects from strong economic development will be seen in the operations of stock market-listed corporations That is considered the bright spot of Vietnam's economy in the next 3-5 years and the prospect of upgrading the stock market will be an important driving force to attract cash flow from both domestic and foreign investors
The stock market in Vietnam still has a lot of space to grow Only 4.93 million domestic individual investor accounts existed as of the end of March 2022, which is 5% of the total population of the nation Compared to other countries in Southeast Asia region, Thailand is an example with approximately 50% of the Taiwan population invest in securities and 5.3 million securities accounts, (about 8% of the populations), Vietnam ‘s stock market is a promising market
Furthermore, Morgan Stanley Capital International (MSCI) in its annual market classification assessment in June 2022 has classified the Vietnamese stock market as continuing to be in the state of Marginal Market However, at the beginning of 2023, the Stock Exchange and securities companies are testing the new trading system KRX, which can meet the requirements of new and shortened product deployment transaction time, helping Vietnam's stock market meet the requirements of upgrading to emerging markets As a result, more investors will have exposure to the stock market and financial services, and securities businesses will experience a sharp rise in demand for these services So that is an opportunity for FPTS and other securities companies in the industry to develop in the far future
Increase the adoption of digital platforms for securities trading and investment
Problems Analysis
- Lack of flexibility in development strategy
Currently, every time a business approaches a new customer or a customer purchases a regulated product, the verification procedures is one of the most important steps to complete this process With FPTS ‘s process to opening an account for individual or business customers, it is required customers to bring their Citizen ID Card to FPTS to sign a contract to open a securities trading account Other form of opening account is that register in advance for account opening information at EzOpen- Register to open an online securities trading account, but after that customer comes directly to FPTS to sign the account opening contract This process is inconvenient, especially when customers are far away from the company, especially during the COVID - 19 pandemic circumstance with the limitation of traveling, while the first door to trading is for the customer to open an account Time and procedures for opening an account have a significant influence on the competitiveness in attracting investors The fact that customers have to go directly to the transaction office to carry out the registration procedures to open an account is very time consuming and laborious, which inadvertently becomes a barrier to reducing the needs of customers who are intending to open an account with the intention or desire to access the stock market Currently, many securities firms have applied the more convenient methods to improve
18 this status, except FPTS, which shows the lack of flexibility of FPTS in adopting more development strategies and is one of the crucial issues that should be solved
For this problem above, the company should consider investing in the application of eKYC (Electronic Authentication Method), as it will inevitably make it easier for customers to open accounts, thereby helping the company to expand its customer base as well as attract more customers for some reasons listed below
First of all, with the benefits of eKYC for the securities field, instead of customers having to go directly to the transaction office to carry out the registration procedures to open a bank account or open an ATM card, comparing personal documents, eKYC helps customers perform these operations via smartphones connected to the internet, anytime, anywhere, without meeting face- to-face This not only benefits customers, but securities firms also save human resources, time, and operating costs In particular, with eKYC technology, customers will have a better experience with finance services because there is no need to wait, which is time-consuming, or travel to transaction offices during office hours
Additionally, eKYC is regarded as a legal procedure Many securities companies, including SSI Securities, VNDIRECT Securities, TechcomBank Securities (TCBS), etc., have accelerated the application in practice since the Vietnamese law allowed customer identification by eKYC in
2020 VNDIRECT is used as an illustration of how well eKYC works According to a VNDIRECT official, the use of eKYC identification technology has allowed the business to significantly boost the number of new accounts established To be precise, only in the first 10 months of 2021 did the total number of new accounts at the company reach more than 230,000, a growth of 178% over the same period in 2020 and around 20% of the entire number of new accounts in the securities market
With several securities businesses implementing this innovative technology, eKYC also received a lot of praise For instance, Chau Thien Truc Quynh, Managing Director of Ban Viet Securities Company's brokerage division, stated that the adoption of eKYC technology assists in exposing consumers to the stock market immediately, gradually perfecting the company's ecosystem of
19 digital trading services One tool that securities businesses may use to service consumers anytime, anyplace is eKYC, particularly in regions and cities without established branches, transaction offices, or brokerage teams
Despite of the fact that the investment cost for eKYC is relatively significant, it is believed that the advantages of eKYC outweighed those drawbacks and in my opinion, FPTS should consider investing to upgrade the system with new technologies and especially invest to apply eKYC to the company's system by choosing a capital raising plan that still ensures the reasonable capital structure for the company’s financial situation.
REFLECTION ON THE INTERNSHIP
Knowledge acquired
The knowledge gained from academic courses was relatively helpful in completing the internship program First of all, the foundation knowledge of microeconomics and macroeconomics such as GDP growth, the business cycle, monetary and fiscal policy, inflation, etc., which is the base to obtain a comprehensive view of how the economy works, helped me assess whether the stock market increased or decreased, what industries increased, and select the potential stocks having an uptrend in the future Furthermore, some courses like Financial Management and Corporate Finance assisted in understanding and evaluating the financial situation, the way of cash flow management in business, combined with Principles of Accounting Financial Statement Analysis to analyze the financial statement, forecast, and evaluate the enterprise Additionally, knowledge of Financial Derivatives plays a crucial role in understanding Vietnam's derivatives market and the value of future contracts Especially for banking industries, thanks to the knowledge I have gained in Treasury Management and Bank Management, it has been less difficult for me to analyze stocks in the banking industry, especially when reading financial statements, because the banking industry is a specific industry and more difficult than the banking industry's enterprises
Skill learned
In addition to acquiring knowledge, I also learned many valuable skills from real-world work and the seniors in FPTS This allows me to process and lay the groundwork for my future profession even if I decide not to pursue this position Working in a professional environment helps me develop soft skills such as communication skills, problem-solving skills, the ability to exchange ideas in internal meetings, presentation skills to attract audiences, and teamwork skills Because of working with many different types of customers (both experienced investors and newcomers to trading for the first time), this job requires the ability to present and explain investment strategies clearly, which helps to increase creditability and build better relationships with clients Therefore, not only did I learn soft skills, but I also learned many helpful skills in the workplace, such as information mining skills, the ways of finding, consulting, and persuading clients, the abilities to analyze a business, creating business analysis reports, etc.
Attitude requirement
With any job, attitude is very important, especially for those who do not have much prior work experience In the circumstance of not really having excellent abilities, a good attitude still helps you create values at work through more learning After a 2-month internship, I realized that being eager to learn is the most important mindset since, in a professional environment, each person is always busy with their work and hardly anyone actively requires to be assisted or taught Therefore, learning actively every time and every place from the seniors and colleagues is crucial to gaining more knowledge and skills In addition, enthusiasm, honesty, and dynamic skills are also appreciated in building the necessary attitudes for interns as well as official investment advisors.
Challenging tasks
I am generally pleased with the outcomes of my manager's evaluation of my major task However, as I have already mentioned, I encountered difficulties forecasting a firm's financial statement during my internship because there was a lot of new information available, including grassroots or Delphi methods for forecasting, both of which I had never heard of before As a result, I require a
21 lot of time to comprehend and assimilate information, and throughout those two months, I was momentarily unable to practice well
Secondly, I found the task that was considered the most challenging was analyzing the business activities in the firm analysis reports Specifically, I need to look for a lot of information from a variety of sources in order to analyze the enterprise's value chain from input to output, production, and business position It took a while to gather all the necessary details, including the availability and cost of raw materials, the factory's present capacity, and the initiatives the firm was funding Since there was no information accessible, I had to actively seek out information about that firm from former coworkers, and if I was still unable to do so, I would need to get in touch with the business itself Because of being a trainee, accessing information from the business is not really effective.
INTERNSHIP SUMMARY
To sum up, the 8-week internship period passed quickly, and being exposed to the professional working environment for the first time as an intern at FPTS was a very meaningful and valuable experience for me Through this event, I discovered my strengths and weaknesses and developed many new knowledge and skills In addition to being a location where I can study and practice, FPTS also helps me become more outgoing and eager to interact with plenty of new individuals of all ages and majors As a result of the chance to interact with and learn from the seniors in the company, my network and relationships have also grown In addition, I have acquired several crucial skills and knowledge that are listed above All of them help me advance my knowledge and expertise and obtain more unique experience so I can pursue a different future career in accordance with my major
In addition to pros that the internship has provided, it helps me to fully comprehend my limitations that I have not ever known before When I'm in charge of an investment adviser job at a professional environment, also somewhat forged my own tolerance and taught me how to persevere through those pressures As a senior with only the information acquired in college, it will be challenging to start out in this role without initially feeling overwhelmed and anxious due to the gap between reality and theory However, such concerns were rapidly allayed by the energetic and devoted guidance of the seniors and managers in FPTS
I understand that I need to constantly learn and improve to overcome my limitations and improve my professional knowledge in order to pursue work in the securities field Although the work of an investment advisor is not really the job that I am passionate about and intend to stick with for a long time, it also helps partly to build the foundation to become a financial analyst, which I wish to achieve in the near future
Financial Statement of FPTS (2019 – 2022), Retrieve from: https://www.fpts.com.vn/quan-he-co-dong/thong-tin-tai-chinh/
Annual Report of FPTS (2019 – 2022) Retrieve from: https://www.fpts.com.vn/quan-he-co-dong/bao-cao-thuong-nien/
Hang Huong (2022), FPTS: Giving up short-term profits in exchange for safety and sustainability Retrieve from: https://www.tinnhanhchungkhoan.vn/fpts-tu-bo-loi-nhuan-ngan-han-de-doi-lay-su-an-toan-ben- vung-post310792.html
Hoang Anh (2022), eKYC: The key to competing for new customers Retrieve from: https://www.tinnhanhchungkhoan.vn/ekyc-chia-khoa-canh-tranh-gianh-khach-hang-moi- post288350.html
Internship Evaluation
Supervisor’s Evaluation
Work Examples
Note: because of the length of my report and presentation, I can only attach some parts of its as example