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HANOI UNIVERSITY FACULTY OF MANAGEMENT AND TOURISM - - INTERNSHIP REPORT FPT SECURITIES JOINT STOCK COMPANY Student Name: Nguyen Thi Hoa Student ID: 1904040046 Major: Finance and Banking Class: 4TC-19 𝟖𝒕𝒉 𝑴𝒂𝒚, 𝟐𝟎𝟐𝟑 TABLE OF CONTENTS ACKNOWLEDGEMENT 4 I INTRODUCTION 5 1.1 Brief history, vision, mission 5 1.2 Business sector and business size 6 1.3 Products lines and market segments 6 1.4 Competitors 7 1.5 Organization Chart 8 II PLAN 8 1 Investment Advisory Division 8 2 Internship Starting and Ending Dates 9 3 Orientation for Internship 9 4 Training/ Coaching 9 5 Internship Responsibilities 9 III MAJOR ASSIGNMENTS 10 1 Duties and Responsibilities 10 2 Assignments during the internship program 10 IV ORGANIZATION ANALYSIS 12 1 SWOT analysis 12 1.1 Strengths 12 1.2 Weaknesses 14 1.3 Opportunities 15 1.4 Threats 16 2 Problems Analysis 17 2.1 Problems identification 17 2 2.2 Solutions 18 V REFLECTION ON THE INTERNSHIP 19 1 Knowledge acquired 19 2 Skill learned 20 3 Attitude requirement 20 4 Challenging tasks 20 VI INTERNSHIP SUMMARY 21 REFERENCES 23 APPENDICES 24 Appendix 1: Internship Evaluation 24 Appendix 2: Supervisor’s Evaluation 29 Appendix 3: Work Examples 31 3 ACKNOWLEDGEMENT Two months of internship are an opportunity for me to synthesize and systematize what I have learned and, at the same time, combine it with practice to improve my professional knowledge I also realize that real experience is extremely important During the internship, it is inevitable that difficulties will arise, but thanks to the help of FMT teachers and instructors, Mrs Do Van Anh, and the enthusiasm of the brothers and sisters in the Investment Advisory department in particular and in other departments in the company in general, I have completed the internship report in the most complete way First or foremost, I would like to thank all the teachers in the FMT department for helping me build a solid professional foundation so that I can complete this internship period; especially instructor, Mrs Do Van Anh, who wholeheartedly guided us to complete this report I would also like to thank the leadership, departments, and brothers and sisters in FPT Securities Joint Stock Company for receiving and creating all favorable conditions for me to approach reality as well as improve my professional knowledge During the internship as well as in the process of making the internship report, it is difficult to avoid mistakes, and I hope you will forgive them Thank you sincerely! 4 I INTRODUCTION 1.1 Brief history, vision, mission Brief history 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 Vision 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 Mission 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 5 1.2 Business sector and business size Business sector FPTS is operating mainly in the securities area, including services for individuals and for business Business size - Total revenue 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) - Number of employees 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 1.3 Products lines and market segments Products and services 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) 6 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 Market segments 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 1.4 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 7 1.5 Organization Chart FPTS ’s structure is organized according to the following diagram II PLAN 1 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 8 2 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 3 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 4 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 5 Internship Responsibilities My responsibilities in the internship is listed below: - Attending training sessions according to the apprenticeship route - Be qualified assessment exams - Completing daily tasks on time assigned by manager - Participating in group sessions that are held internally 9 III MAJOR ASSIGNMENTS 1 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.) 2 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) 10 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 2.2 Solutions 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 18 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 V REFLECTION ON THE INTERNSHIP The company's internship program is a wonderful chance for students to apply the theories what it has acquired to the actual world of work Personally, I've had some success via my internship with the firm, as below 1 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 19 2 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 3 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 4 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 20