Thoughts on Internship with AIG?

Does anyone know anything about the Finance summer internship Program with AIG? I would love to hear from someone who has gone through the program or knows something about it. It sounds like it could be a good opportunity if you are placed in the right group. I copied the description for the internship below. I appreciate any help that any of you monkeys can give...

Position Description
Finance Division
Finance professionals support the demands of multiple stakeholders, including AIG executives, regulators, and investors, while staying at the forefront of accounting, compliance and reporting requirements. The Finance team is made up of people in the following areas:
- Treasury and Capital Markets – Manages AIG’s capital, liquidity and investor relations
- Actuarial and Value Management – Capital planning at the regulated entities and rating agency relations
- Finance Operations – Encompasses all controllership activities such as SEC reporting and tax
- Enterprise Finance Transformation – Drives the global modernization of Finance
Everyone across the Finance function is keenly focused on providing meaningful, actionable, timely information while efficiently maintaining financial discipline, transparency, and controls.

Summer Internship Program Description
Joining the AIG Summer Internship Program is a great way to enhance your business acumen and gain insight into the finance function within a large corporation, as well as learn more about the insurance industry. Summer Analysts are placed into substantive roles that have an immediate and integral impact on the business.
The Program lasts approximately 10 weeks and is intended for students entering the final year of their undergraduate or graduate education. After a week of orientation and training, Summer Analysts will join one of the areas of the Finance Division and have the opportunity to work in a diverse, global and collegial environment. In addition to the experience acquired on the job, Summer Analysts have the opportunity to participate in learning seminars, volunteer activities and networking receptions.
Successful Summer Analysts will be offered full-time Analyst positions in AIG’s Finance Division in the Summer of 2016, where they will join a 2-year rotational program that will expose them to four different areas of Finance prior to receiving a permanent group assignment.

Position Requirements
Required:
- Minimum grade point average of 3.2 (unofficial transcript required upon application)
- Graduation date between December 2015 – June 2016
- Expected receipt of a Bachelor’s degree or 5th year Master’s degree

Preferred:
AIG seeks candidates who have excelled in previous work experience, demonstrated outstanding academic and extracurricular achievement, possess strong analytical and quantitative skills and are enthusiastic about and committed to finance and/or the insurance industry.
The ideal candidates will be solutions-oriented and service-minded thinkers and will possess a powerful blend of IQ (technical skills, consistent learning, statistical & financial acumen) and EQ (adaptive communication, empathy, listening skills, challenging with humility).
We also look for a diverse background of experience, culture, and thought. Successful candidates have a global perspective and a track record of successful teamwork.

 

former AIG intern here. I was in the risk program but met a few people from the finance program. I am not sure if they have changed the process or not...but for my year, you got placed into a random group without being asked for preferences. most people got placed into corp fin type of groups. I personally didn't enjoy the program as it was kinda unorganized. Hopefully they have turned it around now.

 

Do you mind saying how long ago you interned there? I have heard that the current program is only 3 years old. It would be great to hear from someone that was in the finance program specifically. Thanks for the response

 

Former AIG intern here, yea the internship program is relatively new. They stopped their old internship program/regular hiring after 2008, and reopened when the company stabilized. In Treasury & Capital markets, you will either be placed on their treasury side (corporate finance) approving payments/regular treasury work, strategic planning team (distressed banking) and IR (IR stuff but I have no experience here). Feel free to pm with any questions, the pay is way below what other interns will be making at other places though.

 

I would say that you should know your resume inside and out and also be ready for the strengths and weaknesses question. There was a lot of the "describe a time where you displayed leadership" type of questions. Overall it was a lot of behavioral questions and I don't think it will be too tough of an interview if you have answers to back up your past experience

 

Former finance intern, and currently in their ft rotational program... I received my offer later in recruiting cycle so I was directly placed (luckily in a good group). Earlier recruits may have had some influence, otherwise HR tries to match you based on past intern/work experiences.

Have you received an offer/know your placement yet? Can be hit or miss depending on where you end up.

 
Best Response

Treasury or Capital Mgmt in my opinion are the most interesting spots to land. It gives you the chance to interact with different functions in finance along with doing more higher/level strategic work. I would try to avoid a Controller type role. They've been outsourcing those types of roles plus you don't want to be in a role where you repeat the same process every day/week/month/quarter... You'll most likely end up in an FP&A role which isn't the worst spot to be. It'll help you understand the insurance products better along with beefing up your excel skills.

Good news is even if you hate the position you are placed in, if you get offered to come back FT you'll then be in the rotational program. Its a 2 year program where you rotate every 6 months. It'll help you narrow down what you like best along with giving you the "big picture" of how all the functions are connected.

PM me if you have any other questions

 

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