The Alumni Advisory Programme
(Launched 11th August 2010)
For those of you out there with burning questions on just about anything regarding your future career, fret not! Seasoned professionals from the Imperial College Alumni Association of Singapore are here to help!
This initiative is open to all Singaporeans currently pursuing their studies at the Imperial College London. For a clear structure of this Alumni Advisory channel, as well as more information on how to register for this programme, please see the flow chart below.
Below are some examples of the possible questions that can be posted to the Alumni Advisors:
On the Aviation industry:
1) How does working in Singapore compare to that of working in the UK? They wish to know more about the working aspect of things.
A: The aviation MRO (Maintenance, Repair and Overhaul) industry in Singapore has progressed from low skilled component repairs to highly complex conversion of aircraft, with numerous startups in research of manufacturing. There are ample opportunities for fresh graduates to develop their skills in both the technical field and business operations in the MRO industry. High labor costs had transformed aerospace industry in UK to occupy the top niche of the aviation industry in research and skilled manufacturing of airframe structural parts. Students interested in the research aspect of aviation technology can consider applying to UK firms such as Rolls Royce to continue their research in Derby.
2) What should I do to enter the aviation industry? For example specific skill sets that will be relevant
A: The aviation industry is a highly regulated environment due to safety concerns. As such, technological innovation being introduced to aircraft design is not as frequent as other industries. However, innovations in the MRO techniques as well as logistic practices are being introduced and experimented frequently to bring down maintenance costs and improve aircraft reliability performance. To perform well in any job function in the MRO industry, you should find out on how your intended job function serves the interest of your customer’s (Airline operator). With that in mind, you will be able to perform well in meeting their desired service levels, rather than delivering all services which may be good but not highly desired at this particular stage.
3) What first sparked your interest in the industry?
A: I did two internships; one in a bank and one in a manufacturing firm. Given that a bank environment is highly structured, the role was rather focused on a particular aspect for which I lost interest after getting a firm understanding of ongoing. I wanted to have a wider exposure to how a business operation delivers its services from a logistic stand point.
Being recruited into SIAEC, I was able to work with various departments in purchasing, engineering services, freight and legal to push forward a logistic solution to minimise the cost of supporting low cost carriers customers in the fleet management division. Although the job can be demanding in having to balance many stake holders at times, once you are able to get a grip on the job tempo, there are many opportunities to expand on the business support that leads to further opportunities with the customer. Bing able to create additional value to this new business model can be very exciting and satisfying.
4) How does the industry fare in the current economic climate of Singapore?
A: Singapore is situated in a strategic geographical location for an airport hub. Its stable political environment encourages large OEMs (Original Equipment Manufacturers) such as Honeywell, Goodrich and Rolls Royce to use Singapore as one of its distribution and regional repair centers.
With one of the fastest and seamless customs clearing process, Singapore remains an attractive location for aviation manufacturers to place their service centers to minimize the turnaround of components and aircraft. In addition, the quality of Singapore’s product allows for customers to pay premium rates for their components repaired.
However, many OEMS repair shops are starting to set up repair facilities in China and India. This is partly due to the support conditions in the purchasing agreements when huge aircraft purchase is being made. Most technology transfer under such agreements will pertain to mature technology or low level repairs. For Singapore to prosper in this ever competitive industry, it will have to make it very attractive for OEMs to continue to view it as the regional headquarters for its more advanced products.
However, the rising labor cost labor is starting to erode the competitive savings that MROs in the Asia Pacific are enjoying over their competitors in Europe and USA. The local MROS will have to progressed up the value chain to take on more sophisticated repair work that requires specialisation that will not be easily adopted by other countries in the region.
5) How will the industry change in the next 3-4 years?
A: The MRO landscape in Singapore will definitely progressed as the government agency promotes Singapore as an aviation hub. Special grants for specialised services such as 3rd party laser welding and Non destructive testing services has been handed out for local firms to further develop their expertise in this niche market. Polytechnics and tertiary courses are pushing out aviation engineering courses to support the require skill sets and knowledge.
However, the biggest challenge to the MRO industry in Singapore would be its high labour rates. Unless the productivity of the worker is able to increased 3 folds, it will be very costly to compete with neighbouring countries as their engineering proficiency catches up. Hence for Singapore to maintain its lead in this industry, it will have to encourage JVs with OEMs to establish their regional headquarters in Singapore as a foothold into this part of the world, in addition, the local MRO has to progress into further into developing further its knowledge management of various customers fleet requirements.
On the Life Insurance Industry
1) How does working in Singapore compare to that of working in the UK? They wish to know more about the working aspect of things.
A: I started my working career in UK in February 1978 and worked there for 4 and a half years before coming back to work in Singapore in August 1982. There are many changes since then. My sense, when talking to people who have worked in both countries way back as well as ow, is that each has its ow pros and cons but it is ultimately up to you and your sense of belonging. Even before I started work in UK, I had already decided I would return to Singapore as my family is here and it is my country. But my experience working in UK has given me a very good foundation, for example, my education at Imperial College London. Given the opportunity, I would recommend anyone to have some experience working abroad if your objective is to return and contribute to the growth of Singapore.
2) What should I do to enter (a particular) industry? For example, which specific skill sets will be relevant?
A: Please do your research on the industry that you wish to enter and talk to as many people you can contact with who is working or have worked in the industry. You may wish to go back to basics and seek your purpose and passion rather than just jump into the “flavor of the month” industry or what your friends are all heading in the same direction. Skill sets can be learnt but if you are not passioante about the industry and how your values and purpose in life, then work is no longer fun. Fun is important as you must enjoy what you do.
3) What first sparked your interest in the industry?
A: I did mathematics and was guided by my professor to pursue an actuarial career. Being in the life insurance industry, I gradually learnt and appreciate the value of life insurance and how it helps family and society. I am passionate in my industry and you should be too if you wish to build a career and enjoy what you do in the industry you have decided to be in for the rest of your life.
4) How does the industry fare in the current economic climate of Singapore?
A: Life insurance is a very critical part of the financial services sector and in Singapore it is very much related to banking and finance. The financial services sector has weathered well in the current economic climate and is the first sector to start recruiting again even though we expect more consolidation within the sector. Singapore is an important financial center in this region and we are faced with insufficient supply of food and capable individuals to grow our industry.
5) How will the industry change in the next 3-4 years?
The financial services industry will face tremendous changes and what we see 5 years from now may be completely different from 2010. This is what makes it so exciting and challenging, and we welcome you to join and enjoy the journey and contribute to the future growth of the industry.