Internships prepare students to enter today’s workforce with valuable knowledge of what is needed to excel in a professional environment and improve chances for employment after graduation. The finance area is working with employers from our community to build a strong base of internship opportunities for our majors. Employers look for graduates to hire who not only excel academically, but who also have real world experience—participating in an internship provides our juniors and seniors an opportunity to increase their marketability upon graduation.
Guidelines for Internship Inquiry
Company: Commerce Bank
Contact: Stephanie Fox
Human Resources, Lending
Our philosophy is to integrate college students into our unique culture by providing them with an insight to an understanding of the commercial lending and credit business. The internship program will prepare the students for advancement into our Credit Analyst Associate Program propelling their opportunity for personal and professional growth while creating Commerce Bank’s future leaders.
Commercial Credit Analyst Internship Objectives
- Ability to excel in a fast paced environment within the credit department of a local credit section.
- Collaborate with credit analysts at all levels of analytical experience while gaining knowledge.
- Observe the daily responsibility of a credit analyst.
- Learn to spread simple business financial statements.
- Learn to perform traditional business cash flow analysis utilizing spreads and financial statements.
- Perform personal cash flow analysis utilizing personal tax returns and financial statements.
- Perform lease track analyses, collateral analyses, and A/R and A/P aging analyses.
- Determine the profitability of customer and prospective relationships utilizing our profitability modeling software (CPS).
- Familiarization with software and systems needed to become a credit analyst.
- Learn maintenance of the credit files.
- Perform industry research.
- Perform credit investigation duties, including running D&B Reports, CBA’s, and completing profiles of loan and deposit information of a commercial borrower.
- Learn to manage and prioritize workflow.
- Gain understanding of underwriting a commercial loan as well as insight on the approval and portfolio management processes.
- Eventually perform analysis commensurate with your experience level and begin to formulate quality questions to enhance the underwriting of the loan request.
- Review the financial statements of companies of different sizes and complexities, operating in different industries. This will challenge your skills and serve as a broadly based learning experience.
- Observe the actions of a Commerce Bank lending officer and assist him or her with their credit requests.
- Learn to effectively interact with officers and develop strong oral and written skills.
Student Qualification Criteria
- Students should be in good standing at their university or college
- Individuals in a four-year program majoring in accounting, finance or economics required.
- 3.2 GPA, submit transcript and writing sample
- Candidates should be proficient in Microsoft Word and Excel.
- Candidates should demonstrate excellent customer service skills.
Company: BB&T Bank
Contact: Kendra French
APPLICANTS: Please note that for this internship you must first contact Kendra French with your resume. Do not contact BB&T directly.
The purpose of this program is to establish a channel for BB&T to acquire superior candidates for employment while providing an opportunity for qualified students to gain experience in the banking industry, earn income and academic credit.
Through this program BB&T will have continuing direct access to a pool of potential employees who possess skills and characteristics that are essential to success as a banker, including proven English language proficiency, an interest in the banking industry as a career, strong intellectual ability and a high level of comfort interacting with people of diverse cultures and backgrounds.
Through this program students will have an opportunity to gain experience in a field that is challenging and relevant to their chosen area of study and to establish a starting point for a career in banking. By offering academic credit as well as income, this program will ensure a greater level of commitment from the students to their jobs at BB&T.
This program is being offered initially to students in the School of Management with a focus on finance. The scope of this program will be confined to the recruitment of junior and senior undergraduate students and all graduate students at George Mason University on a semester basis, beginning in the summer term of 2007. BB&T is committed to hiring two students per semester through this program.
BB&T will hire students specifically for the positions of teller and relationship banker. Students will be hired on a temporary basis. Students will work for a minimum of 10 hours per week during the semester (150 hours per semester). If the student chooses to receive academic credit for the internship, the program will adhere to the requirements for earning academic credit as established by the university and the specific departments administering the internships on the university side. The program will adhere to all established BB&T values and policies for hiring and employment which will include background checks and drug screening.
The program will be offered to students on a rolling enrollment basis for specific start dates coinciding with the beginning of the fall, spring, and summer semesters. The program will have a minimum duration of one semester. During this semester, employees in the program can earn 3 academic credits, provided that they meet the academic requirements of the university and their specific department of study. After completion of the semester, successful students can continue to work in their position for BB&T.
Students will enroll in the program according to a three step process.
2. Selected students will interview with BB&T following faculty review of resume.
3. BB&T will select candidates for hire. Once selected for internship hire, you will need to follow procedures to enroll in SOM 492 in order to receive credit.
Those applicants who are accepted will begin their internship at one of the semester start dates. Students who are hired will function and interact with BB&T as do all other employees.
In order to receive academic credit for their work, students must meet the specific requirements of their respective departments. While the requirements in each department may differ regarding the academic portion of the internship, the requirements pertaining to the work portion of the internship should be similar across departments. BB&T will be responsible for completing evaluations necessary for the student to receive credit for the work portion of the internship.
While working for BB&T, students will work with branch and regional managers to develop their understanding of banking economics and finance. The students will obtain a written performance review from their supervisor to present to their professor of record along with any other required deliverables. The specific requirements for internships administered through each department are listed separately as attachments.
Resumes from prospective employees will be forwarded from the School of Management to BB&T for preliminary screening and interviews. Those candidates that are selected will interview with a BB&T representative for final approval and placement.
Once approved, candidates will complete the hiring process including background checks and drug screening.
BB&T will place candidates in specified branches with managers who will act as mentors and a learning resource. In addition, BB&T will provide a banking finance training session to each candidate and will assign an advisor during the semester.
BB&T is committed to providing equal opportunities to all qualified persons. As an affirmative action employer, we analyze our applicant flow in order to assure that our applicant pool is consistent with the available labor market. In order for this consistency to occur, it is imperative that you provide us with qualified candidates regardless of race, color, religion, sex, national origin, age, sexual orientation, military status, bankruptcy or disability.
Making the Most of Your Internship
- Get properly oriented. Make sure that you receive a copy of the organization’s policies and procedures. Seek an introduction to the staff and request a tour of the workplace.
- Ask questions. If there is something you do not understand, ask your supervisor. Your supervisor is there to teach as well as supervise.
- Make sure that you have the resources needed to complete the project. Employers are interested in results.
- Seek out projects and training opportunities that will enable you to learn and use a variety of skills.
- Take notes and keep organized. Always take notes in staff meetings, meetings with your supervisor, and when working on new projects. These notes will become helpful to you throughout your internship as your responsibilities grow.
- Keep Organized Records of Your Work. You may want to start a journal of your internship activities including tasks, time tables, and evaluations. This may help you in future employment opportunities.
- Learn what other professionals do within your company. This helps you become aware of other career fields as well as learn about other aspects of the organization.
- Pay attention to the “corporate culture” of your internship site. How do professionals in the organization communicate? Does your employer promote a team or individual approach? How are decisions being made? What type of reward system is in place? Take a cue from the work environment as to appropriate dress, etc.
- Attend professional association meetings. Many organizations belong to professional associations. Ask your employer about such meetings and if you may have permission to attend any. Professional associations offer opportunities to network with others in your field and provide up-to-date information about your profession.
- Start a “Network List.” This list would include names and contact information for people that you meet during your internship. You may want to refer to this list in the future.
- Set up periodic evaluative meetings. Meet with your supervisor to address questions about projects or assignments. This is an opportunity to get feedback and check as to your progress.