Careers in Finance for Students


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Covers careers in finance and examples at State Street and BNY Mellon and the story of Pursuit of Happyness.

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  • Questions: What schools have you all chosen to attend? Based on? Who picked going to Babson? What is the culture here? You can learn what they value by studying who is in leadership?Source: CEO, Gerald Hassell Extras: Biography: Mike Bloomberg was born in Brookline, Massachusetts in 1942. He earned an engineering degree from Johns Hopkins, and an MBA from Harvard. He joined Salomon Brothers in New York in 1966, eventually rising to head their trading information systems. Leslie Greis was born in Holden, MA, a suburb of Boston, in 1958. Drawn to athletics at an early age, she proved adept at a number of different sports. Leslie Greis took up golf at age 13, and within four years became state junior champ in Massachusetts. Founded her own investment management firm.
  • Ramirez's parents moved from Puerto Rico to New York City in the late 1920s in search of a better way of life. They moved to Spanish Harlem where Ramirez was raised and educated. His father worked at the Brooklyn Navy Yard and his mother was a seamstress. After he graduated from high school, he applied for admission to go to college.[1]Ramirez enrolled in Brooklyn's St. France's College where he earned his Bachelor's Degree in Economics in 1965. He barely started college when during his summers he worked for Kidder, Peabody & Co. gaining experience in equity transactions. After he graduated, he went to work for the investment banking firm Stoever Glass & Co. During the years that he worked for Stoever Glass, he became an expert in municipal bonds and earned a reputation amongst the firms clientele as a reliable investor. The experience which Ramirez gained and the satisfaction of helping others to obtain their financial goals motivated him to start his own investment banking firm.[1]In 1971, with an investment of $50,000, Ramirez launched his own firm "Ramirez & Co.". The company specializes in the distribution of municipal bonds, and provides retail and institutional sales along with investment banking services to corporations and state and local governments. In order to gain recognition and alliances from other firms, Ramirez decided to not make the yet small Hispanic market his primary focus.[_____________________________Joseph L. Searles III became the first Black member of the New York Stock Exchange in 1970.Joseph Searles graduated from Kansas State University with a Bachelor's degree in Political Science in 1963. After serving as an aide to New York City Mayor John Lindsey, Searles resigned to become one of the three floor traders, and a general partner, for Newburger, Loeb and Co. He was elected as the first African American member of the New York Stock Exchange on this day in 1970. __________________________________________________ Thorvald McGregor, a Virgin Islands native and former Marine, or Lawrence L. Lewis, a back-office clerk from San Francisco who finally landed a front-office job in New York City, depending on which 1949 media account you accept. The first black-owned firm to be licensed by the National Association of Securities Dealers was McGhee & Company, whose Georgia-born founder, Norman McGhee, hung out his shingle in 1952.
  • Let’s talk about your current roles? Duties? Responsibilities? What skills have you grown from having these positions? Notes: Primary Entry as (Proofs and Audit Specialist, Income/Corporate Analyst, Accounting/Pricing Specialist, Custody Specialist
  • Let’s talk about your current roles? Duties? Responsibilities? What skills have you grown from having these positions? What are the 4 main specialties of BNY Mellon and which one of them do you see yourself fitting into? Notes: Primary Entry as Accounting & Reporting Specialist, Account Administrator I, Corporate Action Global Custody Specialist *Lateral movement only then can you move vertical
  • What are you options to learn within your company? What can you do now?
  • What are you options to learn within your company? What can you do now?
  • We’ve talked about your current roles? Skills you’ve gained? Schools you’ve chosen to attend? Any questions……
  • Can you name a few Career Jobs in Finance? Do you know anyone that dose those careers? *Accounting is really considered it’s own and not a job in Finance. *Management Consulting: Health, Litigation, Finance ex. Accenture, Bain, BCG, KPMGChrisGardner earned a spot in the Dean Witter Reynolds training program but became homeless when he could not make ends meet on his meager trainee salary. Lesson’s learned from that movie….
  • I’m going to briefly cover 9 sectors in finance? Can you name any of them? Hint: C.C.F.H.I.M.P.R
  • Commercial Banking International Talent in High Demand at Money-Center Banks According to Hoyle Jones, Head of recruiting at Citicorp: The firm is "aggressively in the hiring market. "We're looking for U.S.-educated Asians and Latin Americans to go back home and grow businesses."Corporate Finance Help companies raise capital, Works on client (or transaction) team, MBAs hired at the Associate level (equity, debt, derivative) – Equity, debt, convertibles, preferred, asset-backedor derivative securities• Typically a matrix organization of industry andproduct groups• Work on client (or transaction) team• MBAs hired at the Associate levelA career in corporate finance means you would work for a company to help it find money to run the business, grow the business, make acquisitions, plan for its financial future and manage any cash on hand.Rather the key to performing well in corporate finance is to work with a long view of what going to make your company successful. Many would argue that corporate finance jobs are the most desirable in the entire field of finance.Financial PlanningMost planners go solo or work within smaller practices. It's essential then that you have a certain amount of entrepreneurship given that you will be running your own business.Increasingly, it pays to obtain the Certified Financial Planner (CFP) designation. An alternative designation popular outside of the United States is the Chartered Wealth Manager.
  • Hedge Fund A hedge fund manager runs all or part of a hedge fund, with the goal of maximizing return. The hedge fund manager makes calls on a wide range of financial assets - from corporate bonds to stocks to currencies. This is one of the most "white knuckle" jobs in all of capitalism. The compensation for working in a hedge fund can be unusually high. It is not uncommon to see a person in their late 20s or early 30s pull down $5 million a year or more in one of the right positions at the big funds.What is a hedge fund anyway? At its core, a hedge fund manages a pool of money for large investors. These include working at a hedge fund as a junior trader; strategist; analyst; quant; software developer; risk manager; and in various administrative roles.InsuranceDid you know that some of the hottest jobs in finance aren't on Wall Street at all? These are jobs in insurance. Insurance is a trillion dollar business that employs more than 3 million people in the United States alone.As the population ages and wealth grows, the demand for insurance professionals will increase dramatically.Investment BankingThe top investment banks including Goldman Sachs, JP Morgan and Morgan Stanley are said to be in the bulge bracket.Other investment banks are regionally oriented or situated in the middle market (e.g. Piper Jaffray). Others are small, specialized firms called boutiques which might be oriented toward an industry vertical, bond-trading, M&A advisory, technical analysis or program trading.
  • Money ManagementDo you like to look behind the numbers? Do you like to analyze market trends? Do you get an adrenaline rush when a stock takes off? If so, then money management may be the career for you. Money managers hold stocks and bonds for institutional clients and are on the buy side of Wall Street. Some money managers use the latest sophisticated quantitative techniques while others do very well using simple intuition.Many money managers buy and hold fixed income securities including mortgaged-backs, corporate bonds, munis, agency securities and asset-backed securities. Others focus on equities, including small stocks, large caps and emerging market stocks.To get started today, be sure to study portfolio theory, learn fixed income investments, take the CFA exam and, above all, learn the industry  Private EquityBy private equity we are referring to the activity of purchasing all or part of the equity of companies away from a normal stock purchase in the public equity markets. We separately discuss the closely related career opportunity in venture capital - the activity of investing in small, early stage companies.Private equity firms control close to a trillion dollars of capital and get involved in leveraged buyout transactions, partial stake purchases in public companies and investments in private companies.The leading private equity firms include Blackstone, KKR and TPG. Real EstateAs you read this, more than seven million people in the United States have jobs in real estate fields such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development. In addition, many are engaged in corporate real estate and in real estate lending in commercial banks, savings and loans, and insurance companies where their jobs are included in counts of jobs in the real estate sector. Over a third of the world's wealth is tied up in real estate.
  • Re-engineering SkillsThis is the art of doing something other than what you were originally trained to do. Kathy Freeland, author of Navigating Your Way To Business Success, says, "In a down job market, we must be able to reinvent ourselves through learning new skills and developing new capabilities in order to land the jobs that are available." A potential employee is more valuable to a firm if he/she can wear different hats as required.Mr. Hassell's biggest challenge is "re-engineering," said Brad Hintz, an analyst at Sanford Bernstein. "How can he squeeze more expenses out of the bank to allow it to perform better until rates rise.“
  • Extra news updates: State Street Global Advisors Fined $5 Million by the Massachusetts Division of Securities Announced by Gilman Law LLP | State Street Bank Sued by California, Overcharging Alleged
  • Careers in Finance for Students

    1. 1. o. 1-617-942-2861
    2. 2. About MeEducation: UMASS Amherst (BS) Johnson & Wales University (MBA) Northeastern University (MS) Harvard Kennedy School, Executive Education | Leadership, Current Northeastern University (Ed.D) ,CurrentCurrent Employers: CEO|Founder, The Youth Career Coach Inc. Leadership Lecturer, Northeastern University Adjunct Leadership Faculty, University of Rhode Island Education Consultant, EnCompass EducationFormer Employers: M.I.T. Sloan School of Management | Boston University School of Management| Johnson & Wales University |State Street Research & Management | A.G.Edwards |Wachovia Securities | Macy’s | Neiman Marcus | Saks Fifth | Swarovski |Bally’s Total Fitness | Reggie Lewis Hobbies: Tennis, Piano, Cooking, Tae-Kwon-Do Greek Organizations: Alpha Kappa Alpha | Delta Sigma Pi | Sigma Epsilon Rho Cool facts: Goodwill Ambassador, Gambia (Miss Black RI USA) Harvard ‘WECAN’ Woman of the Year 2010
    3. 3. “A career is not the same thing as a job – it’s the sum total of your life’s experiences, a work in progress that’s never quite complete but gains depth and meaning over time” - Unknown Author
    4. 4.  Stages of Career Development  What does a Career in Finance Mean  Leadership within 2 example firms & outside  Career Options in Finance  Resources  Q&A  Next Steps3/5/12
    5. 5. Stages of Career Development Decisions Exploration Self Assessment
    6. 6.  Finance is a science that deals with money, risk and time. To be more precise, it deals with how money deriving from various activities is spent. Long history of attracting energetic and ambitious people who are looking for the best career opportunities. The industry is noted for compensation structures that are, overall, much more generous than in other sectors of the economy. High performers can move ahead regardless of age. As a result, working in financial services can be particularly attractive for ambitious young people in a hurry. A premium is placed on quick thinking, quick acting, and constant production of results. This can be trying for some people, exhilarating for others. Summarized from | | 4/4/2012
    7. 7. Who are they……. Gerald L.Paul Francisco President and CEO State Hassell, President, CEO Marcus Sharp, VP & Karen B. PeetzVice President- Street Global Advisors Financial Controller BNY, Vice BA, Economics, DukeDiversity MBA, NYU Chairman andConsultant Global Scott has an AB in BA, Economics, BU Chief ExecutiveInclusion at State Economics from Harvard Started: 3 decades ago, he MBA,NEU* Officer, Financial joined the BNYStreet College and played MSF, NEU Markets and Management Development varsity hockey. Program , he was 21 years MST, NEU Treasury ServicesBS, Political old* Chair, (WIN)*Science, BU Past Started in Sales/Mortgage BS, PennState Extras: Board of Directors atPresident ALPFA Comcast, New York Specialist, Financial MS, Johns Hopkins Philharmonic, Economic Analyst etc.Started as a Tight Club of New York , Vice Past Employers: Bank ofEnd, Patriots Chairman of Big Brothers Big Sisters* of New York America, Citizens, Bosto nFrom Honduras Capital, Genzyme, Fideli
    8. 8. Samuel A. On February Elizabeth Mossad The ExecutiveRamirez, Sr. 13, 1970, Joseph L. is a 20 year veteran Leadership(born 1941) Searles III became of Citigroup. She the first black floor Councilmade Wall currently works as a member and floor (AfricanStreet history Business broker in the New Americanby becoming Information York Stock Leaders)the first Exchange. He SecurityHispanic to worked as a floor Officer, Risk andlaunch a partner in the firm Control, and Datasuccessful of Neburger, Loeb Privacy/Legalinvestment and Company. Clearancebanking firm. Manager. (ALPFA) 4/4/2012
    9. 9. Year Up’s Curriculum:1. Global Markets2. Global Financial Services3. Global Advisors90% of all entry level positions for State Street come through one division – Financial ServicesABOUT YOU: Accounting/Pricing Specialist etc.4/4/2012
    10. 10. Year Up’s Track:Department of Client Accounting & Reporting• General Securities• Accounting TheoriesDepartment of Mutual Funds Custody• General Investment & ManagementDepartment of Global Corporate Events• General Investment & Management / Products4/4/2012
    11. 11. Affinity Groups: Women Investors Network , Year-Up, Global Mentoring Program, Catalyst, INROADS, Working Parents Group,Employees have access to a full curriculum of classroom-based training programs along with a full suite of e-learning programs4/4/2012
    12. 12. Affinity Groups HEART, IMPACT, Prism, WIN,000 on-line courses offered through ‘Intuition’ areas including: Asset Servicing, Wealth Management, Competency Training for Leaders4/4/2012
    13. 13. 4/4/2012
    14. 14. Can you name a few? Financial Service Brokers (Stock, Securities, Commodities/Futures) Ratings Analysts (CFA) Loan Officers Consultants Insurance Underwriters Actuary Accountant/Auditor *Source:
    15. 15. 1. Commercial Banking2. Corporate Finance3. Financial Planning4. Hedge Funds "Its better to hang5. Insurance out with people better than you.6. Investment Banking Pick out associates7. Money Management whose behavior is better than yours8. Private Equity and youll drift in that direction." ~9. Real Estate Warren Buffett4/4/2012
    16. 16. Commercial Banking  Services to individuals, small businesses and large organizations.  Starting at the branch level such as a teller to a wide variety of other services such as leasing, credit card banking, international finance and trade credit.Corporate Finance  Help companies raise capital, Works on client (or transaction) team, MBAs hired at the Associate level  You help a company find money to run the business, growth the business and make acquisitions, and plan for its financial future and manage any cash on hand.Financial Planning  Financial planners and wealth managers help individuals plan their financial futures.  A good financial planner understands investments, taxes, estate planning issues and knows how to listen.4/4/2012
    17. 17. Hedge Funds  Makes calls on a wide range of financial assets -from corporate bonds to stocks to currencies.  Runs all or part of a hedge fund, with the goal of maximizing returnInsurance  Major areas of opportunity include auto insurance, life insurance, P&C (property & casualty) insurance, and health insurance.Investment Banking  Help companies and governments issue securities, help investors purchase securities, manage financial assets, trade securities and provide financial advice.4/4/2012
    18. 18. Money Management  Money managers hold stocks and bonds for institutional clients and are on the buy side of Wall Street. Some money use quantitative techniques while some use their intuition.  Many money managers buy and hold fixed income securities including mortgaged- backs, corporate bonds, munis, agency securities and asset-backed securities. Others focus on equities, including small stocks, large caps and emerging market stocks.Private Equity  Purchasing all or part of the equity of companies away from a normal stock purchase in the public equity markets.Real Estate  Real estate fields such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development4/4/2012
    19. 19. Two of the most popular jobs in finance in 2012?Source:
    20. 20. 4/4/2012
    21. 21. TOP UNIVERSAL SKILLS Communication Skills*writing, teams Organizational Skills Computer Skills Interpersonal Skills Analytical Skills Leadership Skills Problem-Solving Skills*using creativity Time Management Skills Mathematical Skills Professionalism Re-Engineering Skills*
    22. 22.  | National Association of Hispanic Investment Bankers and Advisors (NAHIBA) Twitter: company, college recruiting site DooStang Website Wetfeet Jung Typology List your Top 10 Finance Professionals (Diverse) Research i.e Competitors The banks main competitors are Northern Trust and J.P. Morgan Chase & Co. Join an Association (Ex. AFP (Association for Finance Professionals), ALPFA (Association for Latino Professionals in Finance & Accounting) Take the BAT by Bloomberg
    23. 23. 4/4/2012