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Corporate Finance Overview. Function (depending on Bank) o Sales Support  Make clients happy  Work with Front Office Sales & Trading to deliver client-specific.

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Presentation on theme: "Corporate Finance Overview. Function (depending on Bank) o Sales Support  Make clients happy  Work with Front Office Sales & Trading to deliver client-specific."— Presentation transcript:

1 Corporate Finance Overview

2 Function (depending on Bank) o Sales Support  Make clients happy  Work with Front Office Sales & Trading to deliver client-specific solutions  Resolve issues (such as payment discrepancies) o Trade Support  Validate trading strategies & compliance  Book trades and guarantee proper operations flow  Validate that risk and cash are in line  Calculate & verify payments to cpty’s o Trade Validation & Settlements  Ensure booked trades reflect confirms  Get cash & pay counterparties Benefits o Interact with clients, take part in creating the face of the bank o Understand client & market needs o T+0 Downside o Early & Longer hours (similar to FO but less pay) o Very demanding (due to regulations & trade flow) Corporate Finance – Middle Office (Ops)

3 Corporate Finance – Product Control Function o Count the money; make sure General Ledger is accurate o Responsible for timely and accurate P&L reporting, financial reporting to shareholders o CONTROL – see all sides of the trade o P&L explanation to management o Forecasting, budgeting, variance reporting o Analyze business needs and work with FO to decrease costs Benefits o Best place to learn about the whole trade life cycle o Add value, while at the same time have a work/life balance Downside o T+1 o Month Ends o Reconciliations

4 Corporate Finance – Independent Valuations Function o Ensure Balance Sheet is accurate (especially post SOX) o Re-value all the positions held by the bank o Propose reserves and adjustments to P&L and Balance Sheet o Work directly with the FO on potential trades as well as valuation concerns o Report directly to senior management o Asset Leveling Benefits o Analyze complex trades, constant learning o Limited daily tasks, continuous improvement model o Direct impact to P&L Downside o High responsibility o Frequent confrontation

5 Corporate Finance – Internal Audit Function o Part of Every large company & all Banks o Independent & Objective o Study, evaluate & implement internal controls o Identify and manage all risks (business, operational & technology) o Enhance the business lines through process improvement and monitoring o Report gaps and risks directly to top mgmt o Ensure compliance with all regulations and governing bodies globally o Internal consulting Benefits o See the business front to back o Flexibility to learn across business lines o Implement effective risk controls o Add value through Corporate Governance Downside o Everyone hates you

6 Corporate Finance Overview

7 Who am I? Diana Terranova o Metropolitan Life Insurance Company o Dartmouth College: psychology major o BU: MBA program My Career Progression o Junior Programmer Trainee o Programmer o Systems Analyst o Project Leader o Business Consulting Manager

8 What do I do? Business Consulting Manager o Works in the Life Insurance Product Management department o Uses data to assist MetLife in making business decisions o Analyzes life insurance data to determine trends & profits o Reports on data using Excel, Word, PowerPoint o Uses SQL, Access, Micro Strategy o Liaison between IT and Business

9 Sample Departments in an Insurance Company Financial Management Group  Corporate Mergers & Acquisitions  Corporate Treasury  Financial Reporting, Accounting, Controllers & Tax  Risk Management Human Resources International Individual Business Institutional Investments Legal Affairs Marketing Technology & Operations Auto & Home Bank

10 Sample Positions at Insurance Firm Financial analyst Financial services representative Accountant Accounts payable Fund manager Claims analyst Systems analyst Business analyst Product manager Project manager

11 The Actuary Profession How do you become an actuary? Casualty Actuarial Society & Society of Actuaries Associate (ASA) & Fellow (FSA) 5-7 exams (offered pre & post college) plus coursework How do you get hired? Pass one or more exams Pros Paid study time for students Formal rotational programs Well-paid Cons Not a glamorous job Rigorous exams

12 Actuary Websites Actuarial career site: List of the actuarial exams:

13 Job searches Network  Build relationships with everyone, including your classmates and other BU alumni Intern Focus on industry of interest Be willing to travel or commute Job fairs Websites: Facebook, Linked In Further your education  Graduate degrees and certifications  You will always have your degrees. You may not always have a job.  Specialize in subjects, if there is a demand for that type of job

14 MetLife Career Center

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