In April 2015, nine students who are majors in the Investment Accounting Track traveled to New York City. Faculty members Mr. Tim Bryan, instructor in accounting, and Dr. Jill Oeding, assistant professor of business law, accompanied them as they experienced the “real world” of alternative investments in one of our nation’s most important financial centers.
SS&C GlobeOp hosted the group at its Manhattan office, giving students valuable insight into the life of professionals in the alternative investment industry. Students also gained wisdom and insight from the managing partner of a private equity firm. Dan Fabian of Blue Road Capitol discussed investing in the nut commodity market, which many students found interesting as they had never considered this type of investment opportunity.
The investment accounting class was particularly interested in the discussion of Zoologic and other training programs at the company, as this is a big topic in the investment accounting track classes and quite meaningful for operations at SS&C.
The group also visited with Nick Muensterman, an accounting major and recent USI graduate, who is a staff member at Ernst & Young. Nick has had so many successes since graduating, which showed the many doors that accounting degrees can open. Nick and his wife took the time to listen to each student, giving as much advice and assistance as possible.
In addition, the group toured the new 9/11 Memorial Museum and the Statue of Liberty. They visited the Museum of American Finance and took a walking tour of the Financial District of Manhattan, which was a reminder about collateralized debt obligations and the financial crisis impact on big name firms. This district seems to be turning into more of a historical street as operations become more and more internet-based.
The Investment Accounting Track is the only program of its kind in the United States and is one of five tracks available to students who wish to expose themselves to the world of accounting for alternative investments including hedge funds, private equity funds, derivatives, and commodities.
The trip to New York was an extraordinary opportunity. Senior Mackenzie Seib, an accounting major, stated, “The trip applied so much knowledge we learned in the classroom.”
Photos from the group's visit are available on our Facebook page.