Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries), All-access Pass: All Interview Courses & WSO Services. Assisted bank management in corrective actions to apparent violations. -Well at least they give a shit about your development and your not just being shouted at 80 hours a week. Ideally, an entrepreneur will develop an exit strategy in their initial business plan before launching the business. Conducted Safety and Soundness, Consumer Compliance and Electronic Data Processing examinations of financial institutions. Financial institutions are constantly being pushed to re-examine their core functions in order to deliver better value for investors. the raises from public to private get much better at those levels. Assigned overall management and small community bank ratings. Trading exit strategies focus on stop-loss efforts to prevent downside losses and take-profit orders to cash out of winning trades. For traders and investors, exit strategies and other money management techniques can greatly enhance their trading by eliminating emotion and reducing risk. I applied to Columbus, OH. Haha. All Rights Reserved. Selected as an Examiner In-Charge (EIC) for five Representative Offices and three Limited Purpose Trust Companies. Assisted the examiner in charge on bank examinations and bank holding company inspections. Served as Examiner-In-Charge of numerous FDIC bank exams. I would suspect it has good exit opportunities but I don't know. Provided anti-money laundering and regulatory assistance for FATF country assessments. Followed up on corrective actions taken in response to prior regulatory, Independent Audit, and Compliance Department findings and recommendations. so you can reward or punish any content you deem worthy right away. In this way, simulation models help the financial system prepare for the worst in ways that rearview assessments cannot. but at the same time do have an interest in going Big 4. by sh812, "and I still don't understand how the Big 4 sell it so well; considering the hours and menial tasks the pay/experience is garbage.". Willem Van Zandweghe, Empirical studies find that the link between inflation and economic slack has weakened in recent decades, a development that could hamper monetary policymakers as they aim to achieve their inflation objective. Directed and supervised safety and soundness and compliance examinations of financial institutions. Monitored compliance with consumer protection, fair lending and civil rights laws and regulations, and the Community Reinvestment Act. "auditing is a dead end road, and I still don't understand how the Big 4 sell it so well; considering the hours and menial tasks the pay/experience is garbage.". Served as an Examiner-in-Charge for teams responsible for conducting examinations of Fifth District regional and community banking organizations. Quantitative analysts developed and assessed the various simulation models to determine adequate capital levels. Q: Interesting to note all that. Financial Technology & Automated Investing. Evaluated banks in the areas of capital adequacy, asset quality, management, earnings, and liquidity. I don't know about the U.K. though, so maybe a person from the U.K. could you. After two years:
At least 2 years of solid financial experience, preferably in a corporate FP&A role. Supervised numerous aspects of bank examinations ensuring that all steps necessary were completed.
Performed safety and soundness examinations, which included loan reviews, asset evaluations, analysis of policies and procedures. Prepared summary findings to senior management on credit and operational risk conditions at individual banks. Would you say one needs a Top school MBA to get an executive level position (i.e. I agree that audit is dead end and over the long run you should switch over to something more interesting that also pays you better. Directed and participated in safety and soundness bank examinations Participated in orderly bank liquidations. ... States employ bank examiners as well for state-chartered banks. One might argue that the traditional bank examiner had become obsolete by the 1990s. I don't know why everyone hates on accounting here. Audited bank loan documents in order to ascertain risk exposure and the level of asset quality. This is useful, but only to a point; at best, it provides a rearview mirror assessment. You learn the technical aspects of accounting and over-time you'll be given a lot more responsibilities as far as the work goes. I don't think it will be hard to get involved in the finance side of things at the Fortune 100 once you get promoted or stick around long enough (FP&A is still accounting at the junior level). I'd like to consider something that is somewhat accounting based, but not just "senior accountant" or "accounting manager" at an F500, that can still give a possible path to a VP of Finance type of role. Of course, this tale comes from the times when bank examinations were conducted on a surprise basis, and a team of out-of-town examiners would arrive at a bank in the late afternoon, just before closing time. An example: In 2010, supervisors at the Federal Reserve looked at incentive compensation practices at the largest US banking organizations. Stop talking out of your ass. Analyzed the quality and administration of the loan and investment portfolios. Trained in all areas of banking regulation including consumer compliance and CRA. Advisory, Hedge Fund Interview Sample Pitches - Long/Short, Investment Banking Interview Case Samples, Certified Corporate Finance Professional - 2nd Year Analyst, Investment Bank Interview - Toughest Questions, Big 4: ITRA/SPA/ERS divisions exit opportunities, Financial Modeling Training Self Study Courses. This example may be an outlier, however I think the FP&A job would be a much better experience. It's a great place to start a career and you will learn a lot about how large corporations work. 3) There are a lot of great posts on WSO about the audit to banking switch, I also just did a post about the switch on the site in my sig.
If you want to make more money corporate law or investment banking are better places to be.