Job Description Final

Counting Pennies, Counting Patience: Navigating Wall Street with an Annoying Finance Bro

How it All Started

Despite being a business major at USC, my finance career choice was more coincidental than intentional. Since none of my parents worked in finance, I was unfamiliar with the industry. However, as a Marshall student, I quickly learned the sought-after jobs fell into finance or consulting. Rejected from multiple internships, I stumbled into an unexpected opportunity on Wall Street as a Risk Analyst. Skeptical but intrigued, I embarked on a journey that would soon be startled by the presence of an intern who we shall call “Brad.”

The Internship in a Nutshell

Before I introduce Brad, let’s break down risk management in banking. It’s divided into three main parts:

1. Market Risk 

Financial markets can be unpredictable due to factors like interest rates, natural disasters, and tech changes. Market risk monitors such movements in the market and its corresponding losses. 

2. Credit Risk 

Investment banks lend large sums, posing a risk of borrowers not repaying (default). Credit risk oversees this, with analysts managing client portfolios and assessing financial statements for lending risks. 

3. Operational Risk 

Operational risk measures losses from failed internal processes, people, systems, or external events. For example, a manual error resulting or a pandemic impacting the bank all count as operational risks. I worked in the operational risk department during the summer.

I conducted a deep-dive assessment of the Credit Alert Process for my summer project. The risk department issues a credit alert when a borrower faces significant financial distress, serving as a warning for relevant departments. Major banks like Silicon Valley Bank and First Republic collapsed in 2023. Their collapse heightened the importance of an efficient Credit Alert process.

My Role 

I took on the following roles:

1. Learner

I went into my internship with little knowledge about risk management. I adopted a learner role. I scheduled coffee chats with over 30 individuals to understand risk management’s position in a bank. I also read through hundreds of pages of internal risk procedures to increase my professional knowledge. 

 2. Investigator 

My project was investigative in nature. I engaged with various departments to evaluate the strengths and weaknesses of existing processes. The investigative journey was more challenging than I thought. Initially, individuals hesitated to acknowledge their shortcomings. It felt like I was finding fault in a perfectly fine process. I discovered their pain points in existing systems as I developed more personal relationships.

3. Communicator 

Risk managers must choose their words wisely, like a parent talking to their child. Being too strict makes others less open to change, while being too lenient may allow bad habits to persist. Risk managers must strike a balance, avoiding being too harsh or too soft. During the summer, I had to learn how to convey information broadly to executives and, in detail, to individuals within the firm.

Introducing “Brad”

My fellow intern, Brad, quickly revealed his disruptive nature during our intern training week. During our introductions, I learned that he was born and raised outside the U.S. but is studying in the U.S. Initially, I was intrigued by his international background. I quickly realized that the less I knew, the better.

From dismissive comments about the lecturer to crossing boundaries with inappropriate questions, Brad became the intern from hell. Some infamous remarks included, “Your outfit is horrible today” or “Your perfume smells awful.” During lunch break, his behavior reached the lowest of lows. I hear him say, “So, Hannah, do Chinese people eat dogs?” I was baffled by his audacity to even ask such a question. He proceeds to add, “Why are you so offended?” This officially marked the beginning of my struggles with his presence.

Confronting “Brad”

I intended to enjoy the rest of my internship without acknowledging Brad. However, a group dinner halfway through the summer became the setting for a confrontation. We decided on a Szechuan hotpot. A couple of the interns, including Brad, had never tried hotpot. Despite taking the time to educate Brad about Chinese culture and hotpot etiquette, he proceeds to violently plop the food into the chili oil pot. The oil splatters everywhere, but he doesn’t seem to care. He continued making ignorant comments, insinuating that only women are allowed in the kitchen. His comments reached my breaking point, leading to a lecture where I stood up for myself and my community. While it’s unclear if he learned his lesson, the incident marked a turning point.

the (delicious) hotpot dinner

My Takeaways 

Beyond the challenges posed by Brad, my internship provided valuable experiences. I reconnected with a childhood friend, made meaningful connections, and rediscovered my love for city life. Professionally, I gained insights into risk management and enjoyed shadowing various departments. However, the most profound lesson came from dealing with diverse perspectives, particularly Brad’s. The experience highlighted the importance of speaking up against inappropriate behavior, even in male-dominated fields. Many women, including myself, often hesitate to report such incidents, fearing they might make a big deal out of it. But as I learned, sometimes it is a big deal and deserves to be treated as such, fostering a healthier work environment for everyone.

Readability 

Flesch Reading Ease: 47.7

Flesch-Kincaid Grade Level: 10

Passive Sentences: 6.7%