My internship at M&T Bank in the Controller’s Department has come to a close.
I’ve grateful for the opportunities that I had to learn, make connections, and add value to an organization that does so much to develop Western New York!
On the technical side, I learned a lot about the preparation and modeling of data that is used to prepare schedules included within financial and regulatory disclosure.
On the organizational side, I was able to observe the experienced leaders within the Controller’s Department and how they coordinate the mammoth task of reporting for a public bank holding company with >$200B in assets during the quarter close.
Anyone who knows me knows that I tend to wax poetic, so I’ll distill my less technical learnings down to 3 key takeaways:
1. Don’t be afraid to ask questions.
In my own experience leading teams, the last thing I would want is for one of my people to feel lost. I’m happy to say that the supervisors and mentors that I’ve had over the past few months were enthusiastic about making sure that I had the tools and knowledge to complete tasks. Whenever I felt unsure, I asked, and got a response! This resulted in a deeper understanding of my work, and what I was trying to accomplish.
2. Always be prepared to explain your work.
When it comes to something as meticulous as financial/regulatory reporting, backing up your work is key. Not only does this ensure the all-important accuracy of information being reported to the public/regulators, but I can attest that it helped me develop my understanding of what data is captured, where it comes from, and where it goes. Absolutely invaluable experience for anyone interested in any area of the banking sector.
3. Solid communication is what distinguishes good teams from great ones.
One of the first things that I noticed was the frequent, timely, and concise communication during the close of the quarter. The documents which we were preparing to be filed with the SEC/federal regulators contain a complex array of information. Everyone knew what they were supposed to be doing, and where their teammates were in the process. This kind of communication served to keep everyone on track.
Big thanks again to M&T Bank for the opportunity to learn more about the world of financial/regulatory reporting in banking! Maybe we’ll cross paths again after my time at the UB School of Management. 😉
#banking #internship #grateful
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