MCFAM Career Development Slides

Minnesota Center for Financial and Actuarial Mathematics
Career Development Services
Laurie Derechin, Executive Director MCFAM
MCFAM Career Advancement Services
• Career path development process begins your first year
 Workshops/Events
 Individual career coaching meetings
• If want individual support you must participate in
MCFAM’s Career Workshops
 You cannot receive individual career coaching if you do not participate
 Check Website for Career Workshops this year
• To sign up for individual career coaching sessions
 Email Laurie to set up appointment – [email protected]
 It usually takes two weeks to get an appointment
This Morning’s Agenda
• Career Development Planning
 First Step: Assessment exercises
 Who are you? personality, skills, values
 What did you learn about your career interests from this?
• Steps/Resources MCFAM Career Development Services
• 2011 and Beyond Career Landscape
 Variety Job Types – think broadly about your quant skills
 US Opportunities
 Global Opportunities
 Many resources to help you get there……
Career Development Planning: Assessment
• For successful career/job search, know your:
 Core Personality Characteristics
 Core Skills
 Core Values
•Once you know more about yourself easier to:
Define career path(what type of job/what type of company)
Target prospective employers
Write your resume/cover letters
Prepare for job interviews
• John Holland PhD; Theory of Career Choice
“Discover who you are, what your skills & values are, find a career
that fits you”
Career Development Planning: Assessment
• Holland Personality Types
 R - Realistic: mechanical know-how, stamina to work
outdoors, likes working with things and tools
 I - Investigative: explores ideas and analyzes; inquisitive,
precise, abstract thinker; likes working with data and ideas
 A - Artistic: skill in music, art and/or communications;
values aesthetic qualities and relates to world through their
medium (music, architecture)
Career Development Planning: Assessment
• Holland Personality Types (continued)
S - Social: enjoys helping others and the community;
sensitive to others’ needs; cheerful, scholarly and verbal
E - Enterprising: likes to persuade and influence others
in areas of business or politics; self confident, social;
skilled at leadership and public speaking
C - Conventional: likes an organized and detailed workplace;
skilled in finance, mathematics; likes working with data; views self as
practical and organized
Career Development Planning:
4 Assessment Exercises
Take 30 minutes to complete the following assessments
Be honest with yourself – but don’t overthink it!
• Core Personality Characteristics
• Core Skills Inventory
• Core Values Assessment
• Understanding your Career Interests
Career Development Assessment
Putting it all Together
Developing your Holland Code
• At bottom of form:
 Mark down first letter of occupational theme that best describes your personality
(R=Realistic, I=Investigative, etc.)
 Mark down first letter of second highest theme
 Mark down first letter of third highest theme
 String them together to get your Holland Code:
For example, if your interests rank in the order of 1) Artistic, 2)
Investigative, and 3) Social, your Holland code would be AIS.
Career Development Planning:
Group Exercise/Next Steps
• Get to you know your Classmates
 Split into 8 groups and compare your notes
 Did you find out anything surprising?
 Does it give you any clues about what you want to do in your career?
 Keep this worksheet; bring it to your first career coaching meeting
with Laurie
• Next Steps
 Briefly jot down your top 7 peak accomplishments (work,
school, personal). Bring with you to first meeting with Laurie
Main Steps
MCFAM Career Development Program
2011-12 MCFAM Career Workshops:
Skills/strengths assessment
Resume and career fair preparation – month of September
Interviewing basics
Critical networking techniques to land a job
Networking and referral techniques for informational interviews
2011-2012 Individualized Career Coaching – With your coach:
• Discover in more depth career areas that are a fit for you
• Perfect and delve deeper into workshop techniques
• Get Mock interview practice and in-action support on networking/referrals
Consider many job types within Financial Sector:
 Banks – Quantitative risk analyst, credit analyst, analytics manager, model
validation analyst
 Insurance Companies – Asset liabilities management (ALM), hedging,
investment actuaries
 Investment Banks – Investment analyst, research analyst
 Wealth and Capital Management Firms – Investment, market and
research analysts
 Consulting Firms
 Trading Firms – Commodities trading, foreign exchange trading, equity
derivatives etc., research and risk and market analysts
 Financial /Treasury Groups/Supply Chain - Fortune 500s
Financial analysts, data mining and predictive modeling analysts
Your Career Path: Think Global
Global Opportunities
Not only US market
 China, Singapore, London, Dubai, Brazil Very Hot Emerging Markets
If you are at the entry level, great place to start your career
Hedge and Equity funds
Investment Banks
Risk Management
Financial Modeling and Quantitative Roles
• Recent Article in the Economist:
 Ever more jobs in finance are migrating to growth markets, particularly in Asia
Apr 14th 2011 | HONG KONG AND NEW YORK | from the print edition
Variety of Resources/Experiences
MCFAM Career Development
Many Ways to Get Exposure, Experience, Support:
• Workshops on Career Development
• On-going Career Coaching Meetings
• Friday MFM Seminar (watch schedule)
• U of MN CSE Career Center
• Professional & Student Association participation (PRMIA, FMA, IAFE)
• Projects, volunteer, part time work, internships
• Career Fairs/preparation – See MCFAM Events
We Have Just Begun to Explore the Career Landscape
• Email Laurie [email protected] to set up career coaching session(s)
starting 10/1/11 to begin setting up meetings
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