Position profile: regulatory authorities
Narissa Taylor F Fin, Adviser, NT Corporate
Industry sector: regulatory authorities
How did you get to where you are today?
I started my career as a legal secretary after leaving high school and working for Minter Ellison for a number of years. The experience I gained as a legal secretary proved invaluable and taught me how to deal professionally with people, how to manage my time and how to write business letters and draft documents.
When I was 25, I started my commerce degree at Curtin University majoring in Accounting and Finance. On completion of my degree, I went on a working holiday to London and worked for Schroder Salomon Smith Barney which gave me exposure to a number of takeovers and large transactions. On returning home, I worked for Ernst & Young in their insolvency division and completed my studies to become a Chartered Accountant whilst I was there.
I then moved to the ASX where I have worked for two years as a Senior Adviser. My role involves handling new listing applications and advising listed companies on the ASX listing rules and their application to proposed transactions and monitoring disclosure made to the market by companies. I manage a portfolio of approximately 100 companies across a diverse range of sectors and ranging in size – from small to large listed companies. Whilst working at the ASX I have completed a Graduate Diploma in Applied Finance and Investment through
Finsia and I am in the process of completing a Graduate Diploma of Corporate Governance with the Chartered Secretaries Australia.
I was attracted to working for the ASX in Perth primarily due to the fact that Western Australia has such a large number of listed resource companies, and I was very keen to learn more about the mining sector. I was also attracted to the exposure the role provides by dealing with so many companies, and the opportunity to develop contacts with both the companies and their advisers. In addition, I considered the role would be good from a developmental perspective offering exposure to mergers, takeovers and other corporate actions.
What does a typical day involve for you?
I work within the Issuers Department of the ASX. The term ‘Issuers’ refers to companies that issue debt and equity securities. My role involves providing advice to these companies with regard to their compliance with the ASX listing rules and the application of the rules to the transactions being considered by the companies.
A typical day starts by reviewing the national newspapers to ensure that there is no information relating to companies that has not already been announced to the market to ensure that there is a fair and orderly market for investors. Generally, we may handle requests for trading halts from companies, consider new listing applications and meet with companies to discuss a proposed transaction, how this accords with the listing rules and the potential for them to receive a waiver from the rules if required. In addition, there are various forms of
draft documentation that we are required to approve prior to the document being released to the market and we review the periodic financial statements lodged by companies.
What interpersonal skills are essential for your role?
It is essential to have an approachable and friendly demeanour, be willing to listen and to build a relationship with the companies you work with and their advisers so that they find you both trustworthy and knowledgeable. Companies ought to feel that they can contact you to discuss matters that are materially sensitive whilst having complete confidence that whatever is discussed will remain confidential.
What sort of person is good in this role and type of organisation?
People who like a fast paced environment, work well under pressure, have the ability to think on their feet, like a challenge, possess some common sense and enjoy interacting with other people will thrive in this role.
What do you find the most rewarding about your current role?
I find it rewarding to be able to work with companies on developing ways of structuring matters so that they do not breach the listing rules, and also being called upon for your advice. I also enjoy the challenges arising due to changes in the economy and market fluctuations and the different types of transactions that arise as a result. I’ve been fortunate to work in other ASX offices and be exposed to new learning opportunities and different companies.
What do most people find challenging/difficult about a role like this?
Certainly the listing rules were something I had had little exposure to when I started at the ASX, so that proved a huge learning curve when I started learning the rules and their application. I have also had to learn a lot about mining and exploration given the WA market is largely dominated by resource companies.
You need to have the ability to understand complex transactions and to be able to make quick but informed decisions on matters particularly when the market is trading which can be challenging.
What were you looking for in an employer when you joined your current role?
I was looking for a company with a national profile that offered exposure to the resources sector, good learning opportunities and a role that involved a large degree of interaction with people.
What benefits are essential to attracting the best people?
Opportunities for promotion, interesting work, financial support for continued learning, flexible working hours, good salaries and good bonuses.
What other jobs and career paths could you consider in the future?
Company secretarial, corporate finance roles, directorships (both executive and non-executive) and consultancy work on corporate governance and listing rule issues
How do you keep up to date?
I make a habit of reading various industry publications, reading the Australian Financial Review and the business pages of other daily newspapers and attend various industry functions to keep abreast of issues.
Are you considering any study or professional development in the future?
I am completing my final unit of the Graduate Diploma of Corporate Governance course with the Chartered Secretaries Australia and am enrolled in the AICD directors’ course starting in May. I am also contemplating doing an MBA.
Why did you become a member of Finsia?
Primarily I became a Finsia member to take advantage of ongoing professional learning and development and networking opportunities.
What tips for success do you have for aspiring financial services professionals?
Embrace the learning opportunities you will be faced with and the challenges that present themselves. In addition, be enthusiastic about developing relationships with the companies you manage and work on getting to know the advisers to companies.