Big 4 Audit for Hedge Fund?
What do you guys think about this internship? Recruiting for the larger banks are not looking too hot right now. I could probably work for a boutique this summer, but I don't know how good my chances are for leveraging that into a full-time role in the fall. My understanding is that banks do most of their full-time hires from their SA hires. This seems like a good solid job. Any ideas on how this would look if I tried applying to banks in the fall? What about b-school and exit opportunities down the road? Thanks in advance.
JOB DESCRIPTION:
Ernst & Young's commitment to the quality and integrity of our audits is exemplified by our global audit methodology and our thorough quality controls that are applied to every client engagement. Together with our substantial investments in technology, knowledge, and learning resources for our audit professionals, these enable us to deliver quality assurance services to our clients and their stakeholders.
We currently have an exceptional learning opportunity for an Asset Management Intern, who will assist Staff in performing client service activities and who will develop a working knowledge of the objectives of an audit. PLEASE NOTE THAT THIS ROLE WILL FOCUS ON AUDIT ENGAGEMENTS FOR HEDGE FUND CLIENTS AND IS BASED IN THE SAN FRANCISCO OFFICE ONLY.
RESPONSIBILITIES:
Assist in the execution of audit procedures. Perform various duties such as understanding routine data processes, testing controls, and performing substantive procedures. Analyze evidence, prepare written communications, participate in one-on-one and small group discussions with other engagement team members, and interact with client personnel.
Clearly and accurately document the execution of specific audit procedures as defined by the engagement objectives, client's engagement history, and planned audit approach.
Demonstrate professionalism and competence in the client's environment. Maintain a strong client focus, be responsive to client requests, and develop/maintain productive working relationships with client personnel.
Demonstrate teamwork, integrity, and accountability. Assist and collaborate with team members. Contribute ideas/opinions to teams and listen/respond to other views.
Use technology to continually learn, share knowledge with team members, and enhance service delivery.
Seek, develop, and present ideas to apply Ernst & Young’s services.
Keep in mind that this is still an audit position. If it's the only thing you've got, I'd take it and run with it. Throughout your internship, you can think of ways to enhance your resume for a banking position (ie. what things can you do that require a lot of analytical thinking, attention to detail, etc.). Write these things down so come the end of your internship, you can include them in your resume. That way, even though it was an audit role, you can twist it to be relevant to an banking position.
I'm just a senior in college, so take my advice with a grain of salt.
If you can bank, bank. When banks do FT hiring next fall, those with banking internships will certainly hold a leg up in comparison to the rest of the competition.
I interned at a Big Four my summer going into senior year, and I was able to leverage that into four different IBanking offers this past fall, despite the difficult times. Though I didn't have banking experience, most of the people I interviewed with loved the fact I had "accounting" experience. I think they misunderstood that auditing and accounting aren't really the same thing, but if you can "wow" them with your accounting knowledge (a.k.a. knowledge of the statements), they'll love you. Some of the guys I interviewed with even told me I knew more about the connection between FS' than they did, and I think they thought this was an indication of my "work experience," even though it had absolutely nothing to do with it. And if you're interviewing at a BB, you can always play the "I worked at a first-class, service-oriented organization where attention-to-detail and absolute perfection is a must, so I am used to that type of environment" card, which my interviewers seemed to eat up as well.
I'm borrowing that :)
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