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NSAD Series 7 - Is it worth Taking????

Nadine McKenzie
Ranch Hand

Joined: Feb 15, 2002
Posts: 53
I amd SCJ, SCWCD and am contemplating taking the Stock Brooker exam (otherwise known as the series 7). I worked in the NY metro area for 3 years and have under 2 yrs of financial experience.
My logic for taking the exam: The series 7 will help me land a Java programming job with a financial company because I will be percieved as having a lot of financial business knowledge? Is this assumption correct? Anyone in the NY metro area with an opinion?


Nadine -SCJP, SCWCD, SCBCD
Mathur Neni
Ranch Hand

Joined: May 10, 2004
Posts: 33
I hope you would have taken some action on this. I am in the same situation (but not having financial exp).

Please suggest is the Series 7 worth to take to get into financial market?

How about Series 6 or any other certification?

Any suggestions/comments?

Thanks in advance.
Nicholas Cheung
Ranch Hand

Joined: Nov 07, 2003
Posts: 4982
Depends on what aspect you are expected.

Honestly, if you want to have a well-recognized certificate in finance, you might consider CFA. Of course, it is more harder and requires you have to more financial knowledge.

Nick


SCJP 1.2, OCP 9i DBA, SCWCD 1.3, SCJP 1.4 (SAI), SCJD 1.4, SCWCD 1.4 (Beta), ICED (IBM 287, IBM 484, IBM 486), SCMAD 1.0 (Beta), SCBCD 1.3, ICSD (IBM 288), ICDBA (IBM 700, IBM 701), SCDJWS, ICSD (IBM 348), OCP 10g DBA (Beta), SCJP 5.0 (Beta), SCJA 1.0 (Beta), MCP(70-270), SCBCD 5.0 (Beta), SCJP 6.0, SCEA for JEE5 (in progress)
Mathur Neni
Ranch Hand

Joined: May 10, 2004
Posts: 33
Nick,

Thanks for your response.

I am in J2EE, but interested in entering/joining as a developer position in finan market. From tech point, I am fine with skills, but they need domain as well.

Initially my thought is to get a certification, so that I can get some knowledge. And atleast after couple of years, I want to be myself in the fin. market.

Any suggestions on certification and other than certifications too?

Thanks in advance.

Mathur
Nicholas Cheung
Ranch Hand

Joined: Nov 07, 2003
Posts: 4982
I don't have much ideas on certifications in Finance, but for well-recognized professional qualifications, the most famous one should be the Chartered Financial Analyst (CFA), some will recommend the FRM (Financial Risk Management). They are managed by 2 famous institutions: AIMR and GARP.

Honestly, I have not heard of those organizations mentioned in this thread, and I am not sure how valuable for those cert. holders. Depends on the area you want to go for, you can make the right choice. For CFA and FRM, they are very specialized in Financial areas, and thus, if you just want to do IT in financial world, they might be too tough for you.

Nick
Mathur Neni
Ranch Hand

Joined: May 10, 2004
Posts: 33
Nick,

Thank you very much for the information. I will pursue further on this.

Thanks,
Neni
Chintan Rajyaguru
Ranch Hand

Joined: Aug 19, 2001
Posts: 341
CFA and FRM are way to advanced and will not help at all if the intention is to land an IT job within financial industry. Usually, the MBA students who are interested in investment management or investment research or quantitative finance would pursue CFA. People who are trying to change career to finance also pursue CFA but it is very difficult to pass without any financial experience. It is a 3 part exam and takes 3 years to complete. Additionally, you don't even get a CFA designation until you have 3 years of experience in finance (not in IT in finance).

I won't comment anything on series 7 becuase I don't know anything about it. No doubt the domain knowledge helps. If I were you, I would also consider taking couple of classes in a community college as that will help with your planned future move to finance while showing interest and knowledge in the domain. Companies need domain knowledge to make sure (i) You understand financial buzz words and (ii) You quickly grasp the underlying business. At any given point your IT knowledge is always more important than finance knowledge so make sure that is covered and then improve your finance knowledge. If you mention, finance knowledge in resume, there will be questions around that and as long as you can answer them, you should be okay.

Use resources such as
www.investopedia.com
www.fool.com
www.wsj.com
www.cfo.com


Hope this helps.


ChintanRajyaguru.com
SOADevelopment.com - Coming soon!
Mathur Neni
Ranch Hand

Joined: May 10, 2004
Posts: 33
Your info is helpful and the links too.

In the finance domain, I am able to see many areas like: Fixed Income/Mortgage/Brokerage/Banking/Stock Trading/Securities/equities/mutual funds etc.,

Any thoughts on which finance area uses more of J2EE. Sorry, I know this question is vague. My thought behind this vague question is to get an idea on which area I need to proceed to get good knowledge and concept-wise.

Any suggestions or comments, thanks in advance.

Thanks,
Neni
Nicholas Cheung
Ranch Hand

Joined: Nov 07, 2003
Posts: 4982
So far, none of them can be implemented purely in J2EE because you will need to interact with the Exchange's system using FIX (in Hong Kong).

For those that are not required to work with FIX, the business logics are implemented in AS400.

Nick
David Ulicny
Ranch Hand

Joined: Aug 04, 2004
Posts: 724
There aren't pure Java solutions? For example for core banking system?


SCJP<br />SCWCD <br />ICSD(286)<br />MCP 70-216
Nicholas Cheung
Ranch Hand

Joined: Nov 07, 2003
Posts: 4982
For banking system, in Hong Kong, all business logic are built in iSeries or pSeries, which act also as the database. Thus, you have to use MQ to connect the Java part and HOST (the name conversion used in Hong Kong).\\

It is difficult to have pure Java solutions because Java runs very slow in HOST, and the current "stable" version of JDK is 1.2 only. I am currently rewriting some of the CL/RPG program modules using Java, but it comes out lots of issues to be handled.

Nick
Mathur Neni
Ranch Hand

Joined: May 10, 2004
Posts: 33
Chintan, Nick, and David,

Thanks for all the inputs.

Regards,
Neni
Munish Dabra
Greenhorn

Joined: Nov 18, 2003
Posts: 19
I'll series 6 or 7 from NASD are the right ones...but i guess you might not be able to appear for that as prerequisite as per NASD for the certification is:
"You must be sponsored by a firm who is a member of the NASD or is a Self Regulatory Organization (SRO)."


Munish Dabra<br />SCJP , SCWD
Anatolyan Ideus
Greenhorn

Joined: Jun 02, 2010
Posts: 1
Chintan Rajyaguru wrote:

Use resources such as
www.investopedia.com
www.fool.com
www.wsj.com
www.cfo.com


Hope this helps.


There are no doubts that NSAD Series 7 is worth taking Also I would add this Series 7 Preparation App to this list of helpful resources.
 
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