Previously Malcolm has worked for Swinburne University of Technology, KPMG, AIS New Zealand, the Victorian Cabinet, and the ACCC. He was an economist by profession and the main fields of work in which he has been engaged have been the development of energy markets (natural gas and electricity), telecommunications investment, and water management. In addition, he has also worked in other areas of government policy including rail, seaports, airports, dairy industry deregulation, stevedoring and education. As part of this work he has undertaken projects for governments and industry associations in South Australia, Victoria, New Zealand, Israel, Bangladesh, Vietnam, Argentina, Peru, and Singapore.