I'm new to the finance world and don't have much of a "mainstream" finance network to work with. Can someone please provide high level career/resume advice?
Hi everyone,
So first off let me explain, I work in commercial banking in northern Canada, where seemingly nothing functions the same way as the south. The firm I work at is small, aside from my manager I am the only actual analyst, relationship manager, collections officer, etc. so I can't exactly go to him asking resume advice to get a new job in the south (ideally the US).
I am hoping someone can generally have a review of my experience to see if I'm on the right professional track and maybe answer a few questions I have?
Education
MBA - University of Alaska Fairbanks (3.57/4)
BA Rhetoric - University of British Columbia
I know that my undergrad kind of screws me for most things finance, once upon a time I thought I wanted to be a lawyer (thank god that never happened). I am strongly considering a Master's in Finance from a US university, unlikely to get into a top program due to undergrad, but still something AASCB accredited.
Work Experience
Commercial credit experience
I've been working at a small non-bank commercial lender in northern Canada for nearly 2 years now, we work predominately with startups in every field from tech, to hospitality, retail, a lot of construction - both commercial and residential, etc. as well as larger companies (relatively speaking, our largest account is about $1.2m).
In this job I work with clients from their first inquiry to pay out of the loan. This means that I analyze their financial statements and create 3 year projections when they are an existing business or evaluate their business plan and sales assumptions when they are a startup (WSO won't let me post the link to the template we use, but you can find it by Googling Score.Org Financial Projections Template, essentially you create an operations budget, debt financing, and other expenses as well as estimated sales and the info is fed into a 3 year cashflow, income statement, and balance sheet. Also calculates relevant financial ratios). I also evaluate any outstanding contracts they have including lease agreements, client orders, etc. Following this, I create a write up of the merits of the loan for approval including business analysis and broader industry/competition analysis. Depending on the size of the loan, I take the write up to various levels of management, including several times presenting to the board of directors and CEO.
Upon approval, I draft the loan documents (more or less fill in the blank documents) and in most cases lead the client through the contracts so that they understand what they're signing. After all that is finished we cut cheques, do due diligence to ensure funds are spent properly. Then maintain contact with clients to ensure adequate business performance, reviewing financial statements on either monthly, quarterly, or annual basis. If the loan goes sideways I also work out amended repayment plans and/or act as the point person for legal actions.
Board Member experience
For about a year now, I've also worked as a board member for the economic arm (called a Development Corporation) for a First Nation in the area. These firms are the primary private investors in most small communities through out the North. I think it would be fair to say that these firms are about as close as we get to private equity and venture capital in northern Canada.
In this job I primarily provide strategic planning advice to the CEO regarding business development opportunities (some going into the millions of dollars). I also evaluate reports and business plans presented to the dev corp from external entrepreneurs/businesses. Reviewing existing companies' operations has also been a primary focus. I've also been involved in several HR initiatives including the growth of the organization's staff for effective business operation and led the review of the CEO's performance.
Other work
Aside from fairly consistent retail jobs from about age 14-20, I have 3 communications internships from my undergrad days (more out of financial necessity than any passion for it). I don't know if this is helpful...
Questions
- When applying to jobs, should I say I work in commercial banking or for a private credit fund? Does it make a difference?
- People often talk about financial model creation in PE, I'm assuming its probably more complex but is it at all relatable to what I do? (WSO won't let me post the link to the template we use, but you can find it by Googling Score.Org Financial Projections Template, essentially you create an operations budget, debt financing, and other expenses as well as estimated sales and the info is fed into a 3 year cashflow, income statement, and balance sheet. Also calculates relevant financial ratios)
- I am looking at STEM designated Master's of Finance, particularly in Oregon. Are there management consulting firms in that area that I would potentially have a shot with that would also be willing to let me work on a TN visa once the OPT runs its course? Or finance jobs that would be willing to sponsor after OPT?
- I am happy to really work anywhere in the US, big city, small town, coastal, south, midwest, whatever. Any thoughts or tips on where I'd have the most luck applying for management consulting jobs? Or finance jobs that would be willing to sponsor after OPT?
Thank you so much for looking at this and providing any help you can!
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