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By:
James Kenney Junior, E-Board Member
Offers the best technology solutions in the industry, to help clients measure results, and reduce overhead
Trade processing, valuations, corporate actions, derivatives, ETFs, pooling of assets, FX, ADRs Services Investment Managers, Pension Funds, Financial Institutions, Other (corporate trust, collateral debt, broker/dealers)
Private Clients:
For individuals, we offer sophisticated financial solutions, including investment and wealth management, private banking and shareowner services.
My Internship (1)
Interned within Asset Management and Asset Servicing Floated between the Boston and Everett, MA offices Fellow intern colleagues were from schools such as GW, Babson, Bentley, BC, Richmond, Villanova, Penn St, VT, Wellesley College, etc.
My Internship (2)
Asset Servicing
Worked in the Transmission Support Unit
Business support team that ensured accurate and timely trade communication between BNY Mellon and our clients (investment managers) The department maintained, updated, and facilitated the Straight Through Process for SWIFT messaging
My Internship (3)
Asset Servicing
SWIFT messaging is the vehicle by which clients and investment managers communicated their instructions to BNY Mellon systems and how BNY Mellon communicated those instructions out to the market (We took clients instructions and performed them) Instructions included trades for FX currency, common stocks/bonds, and asset backed securities
My Internship (4)
Asset Servicing
My role in the process was to ensure the way in which clients and I.M.s sent their transaction instructions was operating correctly and met their business needs I also assisted the lead Project Manager on the SWIFT SR2007, the annual update/overhaul of the SWIFT message system
To do this, I conducted lots of excel analysis projects, collaborated with other financial institutions, helped the Business Analysts and Project Managers put together test plans and system improvements
My Internship (5)
Asset Management
Sat with a trader, fixed income credit analyst, and performed anything the P.M. asked of me Worked with credit analyst in the T.M.T industry
Time Warner, Comcast, NewsCorp
Looked at some equity stocks in the retail industry - Home Depot, Costco, Target
My Internship (6)
Served as Site Captain
Instituted a series of networking events Hosted weekly status meetings for interns Planned trips, including the aquarium and beach
Financial services is a people business, its not brain surgery as many have said
Its all about showing people/clients how you can help them achieve their goals and ensure them the greatest return on their investment, at the least possible price with the least risk
Software
SWIFT messaging, EXCEL (lots of crazy things), Workbench, Proprietary Systems (in-house software)
Conclusion
Definitely take part in an Internship, its pretty much now a requirement (your summer will be one to remember) There are UMass Amherst people deeply entrenched within the worlds top financial services organizations; to find them, its simply a matter of reaching out and establishing relationshipsyou never know