INTERNSHIP REPORT Maritime Bank Securities Ha Noi

FOREIGN TRADE UNIVERSITY FALCUTY OF ECONOMICS AND INTERNATIONAL BUSINESS INTERNSHIP REPORT Maritime Bank Securities Ha Noi Ha Noi, August 2014 Student ‘s name: Truong Thuy Hoa Student ID: 1111150102 Class: A30 – CLCKT – K50 Instructor at FTU: Ms Cao Thi Hong Vinh Instructor at MSBS: Ms Pham Thi Hong Dung CONTENT CONTENT ACKNOWLEDGEMENT LIST OF ABBREVIATIONS PART 1: INTERNSHIP ENVIRONMENT I Introduction to MSBS II Introduction to Administration and Human Resource Department PART 2: INTERNSHIP DIARY I My first day of the internship II My training section 10 III My working time 11 Administration-related work 11 Human resource – related work 12 Marketing-related work 13 PART 3: MSBS OPERATION 15 I Overall operation of the company 15 II Operation of Administration and Human resource management 17 III My recommendations to the brand building project of MSBS 18 REMARKS OF MSBS REPRESENTATIVE(S) 21 ACKNOWLEDGEMENT First of all, I would like to express my hearty gratefulness to Ms Pham Thi Hong Dung – my instructor at MSBS for her great kindness to me I want to give special thanks to Ms Cao Thi Hong Vinh, my lecturer at Foreign Trade University for consenting to be my supervisor of the Internship Program I am also thankful to the Board of Management of Maritime Bank Securities (MSBS) Without their effort, it would be impossible to bring this report to the light My sincere gratitude also goes to all other staffs of MSBS for their sympathy and support to me during my internship In the end, I express my overall gratitude to my department for providing me such a scope Truong Thuy Hoa LIST OF ABBREVIATIONS No Abbreviation Meaning MSB Maritime Bank MSBS Maritime Bank Securities HR Human Resource MKT Marketing IT Information Technology PC Personal computer SRTC The Securities Research and Training Centre PART 1: INTERNSHIP ENVIRONMENT I Introduction to MSBS  About MSBS Maritime Bank Securities (MSBS) is a highly quality investment banking securities services firm in Vietnam, which provides a wide range of financial services to a substantial and diversified client base, including corporations, institutional and individual investors Founded in 2008, MSBS is headquartered in Hanoi and it opened a branch in Ho Chi Minh City in 2013 in order to implement business expansion strategy MSBS is one of a few securities companies in Vietnam which maintains a high level of financial standing soundness and operational efficiency in the context of difficulties in the global and local macro-economy In 2011, MSBS established a formal strategic partnership with Maritime Bank (MSB), creating an increased awareness of the Company's brand and reputation in the financial market Accordingly, MSBS is able to leverage the bank’s client base, capital funding, IT resources, brand and management experiences  MSBS ‘s vision MSBS aspires to be one of the top-tier investment banking and securities firms in Vietnam, driven by commitment to our core philosophies and values  MSBS ‘s mission The company aims to create an excellent trading platform for individual/institutional investors and to bring sensible business solutions to corporate clients  MSBS ‘s services With a chartered capital of VND 300 billion (US$ 15 million), MSBS is licensed to operate the following services: - Securities brokerage; - Proprietary trading; - Securities underwriting; - Investment banking advisory; - Securities depository; - Managing investment accounts for individual investors  The operating principles of MSBS: We are born to "serve" Our greatest assets are our people, capital, technology and reputation Our goal is to provide superior returns to our shareholders We take pride in the professional quality of our work We promote creativity and imagination in everything we We provide an opportunity for talented people to show capabilities and get promotion as quickly as possible We stress teamwork in everything we We encourage the diligence and exertion of the individuals assigned to work Integrity and honesty are at the heart of our business  MSBS ‘s organizational structure This organizational structure is taken from “Organizational structure regulation – Maritime Bank Securities” issued by MSBS Board of Management, 2013 Revision Supervision Board Board of Investment Transaction offices Security services division General Council Board of Security Policy Investment bank services division Board of Management General Director Investment division Board of Risk Management Administration and HR Department Operation division IT Department Internal Audit Committee Internal supervision division  MSBS ‘s core value Client first Teamwork Creativity Integrity Diligence Professionalism II Introduction to Administration and Human Resource Department  Function: Administration and HR Department plays the role of marketing activities, brand building, office work, administration, event organizing in order to ensure efficient and timing support for other functional departments of MSBS  Mission: - Performing organizational, administrative, training and HR practices - Purchasing, maitaining and controling MSBS properties and facilities of the whole system - Managing both external and internal marketing  Structure: Head of Department Driver Assistant Consultant Office staffs PART 2: INTERNSHIP DIARY To begin with, I am very lucky to be introduced by Mr Huyen Minh and Mr Minh Phuc – my lecturers at Foreign Trade University to Ms Hong Dung – Head of Administration and HR Department– MSBS That is the reason why I have got valuable experience of working as an assistant of the Head of Administration and HR Department at such a professional working environment as MSBS Now I would like to summarize my internship schedule as follows: TIME TASKS 22/6/2014 - Having an interview with MSBS representatative 3/7/2014 – 6/7/2014 - Starting the internship program - Getting familiar with MSBS working environment - Having training sections with my instructors at MSBS 7/7/2014 – 3/8/2014 - Working as a full time intern at MSBS 3/8/2014 – 31/8/2014 - Working as a part time intern at MSBS (at least 20 hours/week) As the deadline for internship report submission is the beginning of August, I could only describe my internship from 3/7/2014 to 3/8/2014 I My first day of the internship In the interview, Ms Dung asked me to start my internship as soon as I finished all the exams at FTU As my examination ended on June 28th, and then I had a short vacation with my classmates for days, my first day at work would definitely be Thursday, July 3rd 2014 On my first day at work, I came to MSBS office at 8:30am The first person I met was Ms Huong – a staff of Administration Department She explained to me how to use the office PC and she told me to enter MSBS website: http://www.msbs.com.vn to learn about MSBS and wait for Ms Dung to come and instruct me After hours reading several articles on MSBS website, I could have the basic understanding of MSBS including the company ‘s business, structure and working culture as well as the operation of Administration and Human Resource Department which I worked in This information has been presented in the previous part of my report Then Ms Huong told me that Ms Dung had a business and could not come to the office that morning so I focused on reading the company ‘s policy for the whole morning In the afternoon, Ms Dung came and she assigned the first task for me: Looking into MSBS website and noting down anything that I found inappropriate I spent a couple of hours surfing MSBS website one more time And then I listed out some aspects of the website that could be improved and I did suggest some solutions For example, the display of the English version of the website has some problems: All headlines are in English but the articles inside are in Vietnamese, which seems unprofessional In addition, the tab Customer Support on the website includes 21 sub-tabs, which are so complex, therefore I suggested MSBS IT technicians should group these 21 sub-tabs into 4-5 subtabs, each shall be divided into some components so that web users will find it easier to look for the information they need instead of facing a complex long list My first day of the internship ended at 5:30pm For me, it was a quite good start and I felt very comfortable working with Ms Dung as well as all MSBS staffs Photo: My desk at MSBS II My training section Ms Dung has a special method of training her assistant I was very surprised at the beginning but I soon got used to that My first training section is to learn how to train people because one of the most important task of Administration and Human Resource Department is Training Ms Dung gave me a 30-page document named “Requirement for layouts and contents of MSBS document” She asked me to read and prepare slides to explain it to other staffs in the department That moment I realized that without the pressure of reading to teach other people, I would not have put such a great effort to understand all articles in the document My second training section is to learn how to design a poster for an internal training program MSBS provides its staff with professional training opportunities so there are 3-4 short training programs every month For that training program, I had to design a poster, along with an invitation to send to other functional departments It was the first time I designed a poster I started by trying different layouts for the poster but I forgot one equally important thing – the content Ms Dung advised me to list out all the content I wanted to present on the poster first, then came the time for the layout That method would save me a lot of time The picture provided here was a work of mine Photo: Poster designed by me 10 Another day, I got a valuable lesson from Ms Dung: Whenever I am assigned a task, I have to put myself in the shoe of my boss to complete the task It means that I have to finish the assigned task to my satisfaction She said: “If you submit a work and then someone has to review and redo it for you, it turns out that you have finished nothing at all” Accordingly, I have always tried my best to complete all tasks with both my heart and my head In addition, there are some principles, not the written ones I learned from MSBS Staff book but the ones I have figured out during my training section: - 1st principle: Staff discussion should be made via email/ skype so that your work would not distract other people and it would be much easier for you to keep track of the discussion - 2nd principle: All my emails at work should be CC to my direct instructor – Ms Dung so that she could follow and supervise my work III My working time As I have mentioned in the very first part – MSBS organization structure, MSBS does not have a separate marketing department, so marketing is one part of Administration and Human Resource Department That is the reason why during my internship, I had a chance of experiencing different work of different aspects But basically my tasks can be divided into three groups: - Administration-related - Human resource-related - Marketing-related Administration-related work As an intern at Administration and Human resource department, sometimes I supported Ms Huong – an administration staff with administrative tasks while she was busy such as: - Taking documents for stamping - Receiving documents/ letters sent to MSBS staffs 11 Human resource – related work No 1: My first task related to human resource was to brainstorm some ideas for an internal marketing plan with the aim of raising the staffs ‘ awareness of MSBS core values My ideas submitted to Ms Dung could be summarized as follows: - Decorating MSBS office with pictures reflecting MSBS core values/ quotes related to MSBS core values - Putting desk calendars with core values printed on on staffs’desks - Posting inspiration clips related to MSBS core values on MSBS Family facebook group - Holding a photo contest for MSBS staffs to take part in, the concept of photos submitted must be in connection with MSBS core values No 2: Another task of mine was to design a birthday card for MSBS-ers I had to find a layout and think about a message on the birthday card It was a difficult task for me because I had never designed such a formal birthday card Photo: Birthday card designed by me 12 No 3: My third task was to be the admin for MS-Learn Training course named “Telesales skills” which took place on July 16th, 2014 My tasks as an admin included: - Receiving the confirmation from course participants and making an official list of participants - Preparing the course ‘s documents - Booking room for the course No 4: Next, I received the training notification document from The Securities Research and Training Centre And I was asked to schedule the SRTC training plan for MSBS staffs What I had to was actually very simple: - Receiving the training schedule file from Ms Huong - Investigating the training notification document and arranging training courses in monthly order - Entering the course information onto the file No.5: Due to the demand of MSBS staffs, Ms Dung asked me to find a suitable Facebook marketing course Firstly I contacted with three famous course providers: Tri Tue Viet, Vinalink and Litado and asked for available courses and quotations After receiving the information from the course providers, I had to compare and send the comparision result to MSBS staffs for their confirmation Finally, when MSBS staffs had chosen one course, I drafted the proposal document for Mr Huy – the CEO of MSBS ‘s approval Of course the proposal drafted by me was reviewed by Ms Dung before reaching Mr Huy Marketing-related work While during the first half of the internship, most of the tasks assigned to me related to Administration and HR, for the remaining time at MSBS, I mostly focused on Marketing related tasks 13 No.1: As MSBS has a strategy to build an international brand, one of its objectives is to achieve international awards for securities companies So I did have a precious opportunity to attend a meeting with the brand marketing team from MSB (Maritime Bank) Thanks to the meeting, I could see in the real life what Mr Duong Tuan Anh and Mr Nguyen Huyen Minh – my two admirable marketing lecturers described at class I was assigned to be a secretary of the meeting, so my first task after the meeting was sending the meeting record to Ms Dung And I also took the responsibility to research on available and reliable international awards for financial institutions from famous financial magazines such as The Asset, Finance Asia, Asian Investor and so on No.2: The most significant task of mine during the internship related to MSBS branding activities Owing to MSBS impressive growth in recent years, branding is one of the top priority in the company ‘s marketing strategy And the core of branding at this stage is achieving both domestic and foreign brand rewards On the one hand, I had to list out available brand awards for securities companies and look into them for details information On the other hand, I had to follow the project of applying Top Brand and Sustainable Development Business – two domestic awards which MSBS was offered in July To be more specific, I had to contact the award organizer and ask for details information regarding application process It was a great honor of mine to have a chance to present the information I found in front of MSBS staffs’ meeting To sum up briefly, I did have great time at MSBS although my contribution to MSBS is quite minor due to time limitation MSBS staffs are all so friendly, lovely, energetic that I love them so much When it comes to work, they are so hard working, creative and professional that I can’t help admire them 14 PART 3: MSBS OPERATION I Overall operation of the company MSBS (previously SSJ) was established in 2008 and has become a strategic partner of MSB since 2011 Since then, the company has experienced incredible growth The most visible achievement is market expansion with the opening of two branches in Ha Noi and Ho Chi Minh city: In terms of financial status, I would like to emphasize some notable achievements of the company during the second quarter of 2014 (From April 2014 to June 2014)  Profit after tax (2nd quarter 2014): 17.626.073.559VND  Profit growth rate: 73% 15 In addition, to have a deeper understanding of MSBS ‘s operation, I have carried out a SWOT analysis as follows: STRENGTHS •Creative, diligent and professional operational staffs •Strong strategic partnership with MSB •Good customer relationship with current customers •Excellent management team WEAKNESSES •Not well-developed internal IT system •Lack of uniformity in some administrative procedures •Lack of Marketing and Designing staffs OPPORTUNITIES •Positive sights of securities market developments •Partnership with famous media channels such as Vietstock THREATS •Strong competitors such as VN Direct, SSi, HSC, •Instability - the nature of Viet Nam stock market Photo: Humans of MSBS 16 II Operation of Administration and Human resource management In July 2014, the Department of Administration and Human Resource has got incredible achievements Firstly, in terms of administration, the department has successfully built a firm basis for a professional administration system, which makes administrative procedures timing, effective and efficient Secondly, in terms of HR, the department has designed a detailed plan for internal training, which is known as MS-Learn Accordingly, there are - training courses per month which are compulsory for some MSBS staffs and optional for others And the Department of Administration and Human resource will be responsible for managing the courses, assigning tasks to appropriate departments, including inviting trainers, preparing training documents, arranging training facilities and notifying trainees In addition, the department has made a specific policy of intern recruitment With this new policy, it would become much easier for the department internship to control recruitment process Also, it ensures that interns who are accepted into the company would meet Another requirements achievement department creation its of the was the successful of green working environment for its staffs All visitors to MSBS office were deeply impressed by the beautiful office with so many lovely bonsai trees Working in such a friendly office is apparently the best luck of mine 17 Thirdly, in terms of MKT, the most outstanding point is to launch a specific plan for brand marketing in international context The target of this plan is to achieve international awards for MSBS The company is now in its growth period, so brand building is a monumental step towards an explosive move MSBS Administration and HR department has been co-operating with MSB Marketing department to set up a detailed strategy for accomplishing international recognition so that MSBS reputation would be known and highly appreciated by foreign clients and institutional clients – two groups of MSBS ‘s targeted clients III My recommendations to the brand building project of MSBS It ‘s due to the fact that the majority of my tasks here related to brand building, I would like to suggest some recommendations to that project I have research several domestic and foreign brand awards Personally I hope this information will be beneficial to MSBS Table : Domestic awards available for securities company AWARD PROVIDER AWARD Vietnam Forbes Magazine Vietnam Ecommerce Association NO The Economy (Viet Nam) State Securities Commission CRITERIA LINK Top 50 securities companies in Vietnam Financial statements of three years http://baodientu.chinhphu.vn/Kinhte/Forbes-cong-bo-50-cong-tyniem-yet-tot-nhat-VietNam/201229.vgp Reliable Etransaction award * Technological system * Security measures * IT services http://hn.24h.com.vn/tai-chinh-batdong-san/vndirect-doanh-nghiepco-giao-dich-truc-tuyen-tin-caynhat-c161a421857.html Strong Brand award No information http://kinhdoanh.vnexpress.net/tintuc/ebank/cong-dong/maritimebank-nhan-giai-thuong-hieu-manhviet-nam-2964869.html Viet Nam Securities Brand award * Credit score * Capital structure * Fame and brand value * Social relation * Tax contribution http://www.baomoi.com/Agribankvao-top-100-thuong-hieu-uytin/45/14274700.epi 18 Table : Foreign awards available for securities company NO AWARD PROVIDER CRITERIA Best Vietnam Onshore Fund House * Company’s name and contact details * AUM and how it has changed year-onyear * Returns for 2013, relative to peers * The experience and stability of HR * The balance of business in terms of institutional/wholesale/retail * Examples of where and how the company has been innovative in the past year * New products and services introduced in the past year * Information on participation in investor education * Explain how operation has grown localfor-local, local-for-global and/or global-forlocal business lines in the past year Asian Investor Best Broker in Vietnam Asset Asia Award Finance Asia OPENING MONTH AWARD Best Equity House Best Asset Managemen t Company of the year Best Broker in VN Best Debt Capital Market House The assessment process is very strict: After application form has been submitted, the committee will judge the application form Shortlisted candidates will be invited to present in front of the committee Final decision will be based on both quantitative and qualitative factors * Breakdown of market shares on the local exchange since June of the previous year * Breakdown of the percentage of the business which is retail versus institutional * Breakdown of the percentage of commissions that come from local accounts versus foreign * Successful examples as a distribution channel for IPOs and secondary offerings * A list of bond deals plus the amount the company has executed in the country 's local currency * League table position, based on the start date of June of the previous year * Case studies (up to five) of the largest, most significant transactions and their relevance to the market and its development * Background on the company and the way the fixed income department is organized 19 LINK http://w ww.asi aninves tor.net/ News/3 72405,i nvestm entperform anceawards2014how-topitch.as px January August June http://w ww.the asset.co m/event s.php?s ubmenu =award s#axzz3 77lrVO ib http://w ww.fin anceasi a.com/ News/3 83012, nomina tionsopenforemfina nceasia emcountry awards aspx REFERENCE MSBS official website: http://www.msbs.com.vn/ “Quy chế tổ chức máy Công ty Cổ phần chứng khoán Maritime Bank, Lưu hành nội bộ”, ban hành ngày 11/10/2013 “MSBS 2nd Quater 2014 financial statement”, http://www.msbs.com.vn/News/2014/7/19/249520.aspx 20 available on REMARKS OF MSBS REPRESENTATIVE(S) 21 ... ABBREVIATIONS No Abbreviation Meaning MSB Maritime Bank MSBS Maritime Bank Securities HR Human Resource MKT Marketing IT Information Technology PC Personal computer SRTC The Securities Research and Training... for securities companies So I did have a precious opportunity to attend a meeting with the brand marketing team from MSB (Maritime Bank) Thanks to the meeting, I could see in the real life what... http://hn.24h.com.vn/tai-chinh-batdong-san/vndirect-doanh-nghiepco-giao-dich-truc-tuyen-tin-caynhat-c161a421857.html Strong Brand award No information http://kinhdoanh.vnexpress.net/tintuc/ebank/cong-dong/maritimebank-nhan-giai-thuong-hieu-manhviet-nam-2964869.html Viet Nam Securities