2022 Summer Associate Internship: Finance, Accounting, Tax and Procurement
The 10-week 2022 summer internship program is designed to challenge students by providing opportunities to provide hand-on experiences, skills training and valuable professional networking to assist students with identifying and building on their career interests. This role gains experience and an overall feel for the company and the financial services industry by attending meetings, delivering presentations, exploring business-specific tasks, and working closely with cross-functional groups to better understand the TIAA Office of the Chief Finance Officer businesses.
The program includes a robust training and onboarding program followed by our ongoing speaker series, lunch-and-learns, and cohort engagement activities, as well as direct access to executive and senior leadership, mentors and previous interns.
Eligible interns may receive a full-time offer to join our Early Talent Rotational Program or various open positions within the organization.
KEY RESPONSIBILITIES AND DUTIES:
You will have the opportunity to work in one of the below exciting business areas including but not limited to:
Accounting & Corporate Tax
You will work exclusively within one of the following accounting functions during your internship: Regulatory Reporting, Governance, Investment Reporting & Oversight, Fund Administration and Investment Accounting, Financial Planning & Analysis and Corporate Tax. Through these diverse experiences, you will get an understanding of the various dimensions of TIAA accounting operations such as Statutory Reporting, Internal Controls over Financial Reporting, Corporate Tax, Financial Reporting Systems, Corporate Accounting and Financial Performance Management including:
- Applies knowledge of US GAAP and Statutory accounting principles in the performance of operational tasks, e.g., processing journal entries that are the corporate records of the company.
- Perform regulatory reporting processes for various legal entities within TIAA.
- Applies financial acumen to resolve a wide-range of issues.
- Applies technical knowledge to complete assignments.
- Interfaces with other areas of the company that prepare and process accounting entries.
- Prepares account reconciliations and processes transactions to maintain the accuracy of the general ledger.
- Participates in various special projects and assist in developing solutions
- Desire to sit for CPA exam
Financial Analysis and Planning
The BFO provides the Executive Committee (EC) and Business Areas with decision support through the use of management reporting, future-focused analytics, predictive modeling capabilities, decision tools and problem-solving support to help drive our businesses financial planning, budgeting and forecasting requirements; and supports the Corporate Financial Planning & Analysis (CFP&A) team to achieve accurate allocation of expenses and revenue alignment to corporate entities and product lines. This is an exciting opportunity for potential candidates to apply their knowledge to a strategically aligned initiative within the Finance organization including:
- Budgeting, planning, forecasting, analysis, as well as, financial stewardship and counsel. Presenting and clearly articulating the financial results of the business, as well as provide variance commentaries to business partners.
- Develop models / tools for early identification of financial trends and drivers for use across business segments.
- Make recommendations for issue resolution; maintain and improve current financial models.
- Collaborate with business areas to develop operational and financial health metrics and measures.
- Incorporation of productivity and continuous improvement methodologies to ensure long-term success.
- Create transparency around cost allocations to drive business-focused discussions.
Chief Procurement Office
Two possible tracks for our interns in the Office of the Chief Procurement Office: The first role will support special projects and continuous improvement initiatives within the Strategy and Operations area of the Procurement Office; project areas include: cycle time analysis, expiring contract reporting, predictive modeling, and savings optimization. Intern will act as project coordinator for all aspects of the project(s), including the engagement of subject matter experts, business partners, metrics team, and other control groups. Associate will have the opportunity to make recommendations and provide effective input to accomplish project objectives. As well as manage projects to timelines, and produce deliverables for presentation to Procurement Office leadership.
Responsibilities and Duties
- Provide analysis related to industry trends, best practices, and other approaches to managing cycle time within strategic sourcing
- Assist metrics and analytics team in testing various hypothesis and models by analyzing supplier contract data sets
- Develop recommendations for the development of dashboards (internal and externally facing)
- Assist in the preparation of reports and presentation materials
- Coordinate meetings with SMEs and other internal business partners
- Become familiar with sourcing technologies (e.g. PeopleSoft)
- Gain a thorough understanding of strategic sourcing programs, metrics and reporting in support of area goals and objectives.
The second track offers the opportunity to work in the Vendor Management function within the Office of the Chief Procurement Officer. Intern will learn how to enhance their communication and presentation skills, build consensus among different teams with competing priorities, and how to thrive in a fast-paced, deadline-driven environment. The responsibilities and duties associated with this opportunity are:
- Participate and assist in the ongoing management of vendors and their performance
- Assist with vendor onboarding.
- Assist with the collection of vendor documents, including scorecards and meeting minutes.
- Assist with due diligence and contract review requests.
- Create spreadsheets for the analysis of vendor quotes and pricing options
- Participate in vendor sourcing activities
- Assist in the data collection needed for the drafting of vendor RFPs and vendor contracts
- Full-time student, currently pursuing a Bachelor’s degree
- Graduation date between December 2022 and August 2023
DESIRED SKILLS (Preferred not required):
- Minimum Overall GPA of 3.0 or better
- Currently pursuing a Bachelor’s in related fields including Accounting, Actuarial Science, Business Administration, Economics, Finance, Mathematics, Risk Management, Statistics or similar degree programs
- Internship experience is a plus
- Excellent communication, presentation, problem solving/analytical skills
- Proven ability to prioritize tasks and deliver on commitments
- Previous internship or work experience a plus
- Demonstrated interest within the investment management industry is preferred
- Independent and original thinker
- Self-discipline and self-motivation
- Strong level of integrity with an entrepreneurial spirit
- Minimum of 2 years of working knowledge or academic experience in using Microsoft Office products or similar products (Word, PowerPoint, Excel, Outlook)