Finance Area Offers Many Career-Focused Opportunities

Posted: Wednesday, September 11th 2013 at 6:04 AM

New learning opportunities have positioned NAU finance graduates for increased success in the job market. The accessibility of the Bloomberg Terminals, installed in the FCB in Fall 2012, has provided stronger training and experience essential to work in finance positions. Other opportunities made available to students are the Student Managed Investment Fund (SMIF) classes and participation in the Global Investment Research Challenge (GIRC). The number of field trips has increased, providing networking with business professionals as well as glimpses into the workplace.

One milestone, taking the Chartered Financial Analyst (CFA) exam, is a great way for students to get noticed in the field as becoming a charterholder is of highest prestige in the finance world. According to the CFA website, the CFA Program is globally recognized, helping you gain the respect of employers and clients around the world.

The spring 2013 semester brought news of NAUs first undergraduate to pass the CFA level I exam. Ryan Gravett. who took the exam in December of 2012, beat the odds when he received his passing results on a test which only 38% of people who take it pass, most of whom are professionals already working in the finance industry.

Two more students from the FCB have passed the exam since then, proving that business students at NAU have what it takes to be successful. Joe Caton and Chao Gao received their results over the summer and were proud to announce the good news.

Matt Haertzen, senior lecturer of finance, cites a new focus on a CFA-based curriculum as essential to the high test scores, along with an exceptional group of students who were willing to work independently to prepare for the exam.

Weve started using more CFA curriculum material in the classroom in the SMIF classes in particular and were incorporating CFA material into our Finance 331 class as well, he said. [The CFA exam is] becoming a necessity if you want to be an analyst or portfolio manager in your career.

During the student trips to PIMCO and Pathway Capitals in the spring of 2013, students were reminded of the importance of the CFA exam.

Senior employees at both of those leading investment firms told the students, The most important thing you can work on is your CFA, Haertzen said. So students hear it from someone outside of faculty and they see what they can do with that when theyre out there taking a look at these shops. For the students, having an opportunity to see top investment firms helps them to understand how competitive the environment is, but also how rewarding. This helps to motivate the students to put in the extra work now, knowing it will pay off later if they can find opportunities working in these settings.

Being able to use Bloomberg Terminal has also played an important role in student success in the FCB.

The Bloomberg is important as far as getting them familiar with the tools real investment professionals use around the globe, Haertzen explained.

By gaining experience with this investment data source, students are a step ahead of the competition when they begin searching for a job since they have a valuable skill on their resume and can talk about it in an interview.

NAU-FCB started using Bloomberg Terminals in the 2012 fall semester with a great response. The 2013 fall semester marks the addition of 11 more Bloomberg licenses for students, bringing the total at FCB to 12.

Students become Bloomberg-certified by going through a series of training videos and then passing a test at the end to show that they understand how to use the terminal to access market information pertaining to both stocks and bonds.

Were going to require certification in the Finance 331 classes starting this fall now that we have enough terminals, Haertzen said. It gives them a good base, something to take to an employer. Within FIN 331, we expect them to value a company and make a buy, hold, or sell recommendation for a position. Theyre expected to use Bloomberg material to support that recommendation. SMIF handles the investment portfolio of $1.5 million of the NAU Foundations assets. All recommendations made in the SMIF classes will have to be supported with data from Bloomberg as well. Having access to this level of data has already improved the analysis in the SMIF classes, and we expect that the additional terminals will lead to even stronger analysis this year and into the future.

A select group of students from the SMIF classes participate in the Global Investment Research Challenge each year. Haertzen was contacted through the Phoenix CFA Society after the spring 2013 competition by someone from Western Asset Management who was impressed by the students representing NAU. They requested that some of those students apply for internships during their junior year. Kona Grill also asked for recommendations of students looking for a position.

FCB students are fortunate to have so many different opportunities available, allowing them to gain a head start on their finance career.