In this week’s article, Yunjie Chen shares her experiences as a committee member of the Finance Expedition 2024 and what this expedition is all about. The idea behind this expedition is to introduce students to the world of finance in a unique and interactive way, while also providing companies with a platform to discover young talent. Finance Expedition in Brief The Finance Expedition is organized by Asset Financials and Asset Econometrics and is specifically designed for students interested in Corporate Finance, Asset Management, and Risk Management. This three-day expedition, including overnight stays, offers challenging business cases, personal stories from professionals, and valuable networking opportunities that can open new doors. Program Development In February 2024, we began preparations for the 2024 edition as a committee. After hours of brainstorming sessions, weekly meetings, and a team-building activity, we finalized the program. Everyone within the committee had their own tasks and carried them out diligently. After the summer, everything accelerated, and registrations started pouring in. Internally, we were busy processing both administrative and promotional tasks. We held college talks, promoted the event online, and personally approached students with details about the expedition. Besides promotion, we also had to arrange transportation and accommodations. Logistically, we chose the Van der Valk Hotel in Breukelen for overnight stays. The Big Days: Success and Satisfaction Day 1: Rotterdam – Nerisa On the first day, we left Tilburg early and headed to Rotterdam, where we were warmly welcomed by investment company Nerisa. We received an extensive presentation about the company and its focus areas. Following that, the students worked on a challenging equity research case, which they later presented to Nerisa professionals. The day ended with a lunch where students could ask questions and network. Day 2: Utrecht – BDO The second day featured an in-house day at BDO in Utrecht. In addition to audit services, BDO has an M&A department, which was the focus of the day. Upon arrival, we were greeted warmly and started the day with a presentation about the Corporate Finance and Transaction Services departments. After the presentation, we worked on a financial due diligence case, with the results being discussed in detail. The day concluded with a group lunch, where students once again had the opportunity to ask questions. Day 3: Amsterdam and Utrecht – Deloitte & Zanders The third and final day focused on Risk Management. In the morning, we traveled to Amsterdam’s Zuidas district to visit Deloitte. We received an extensive presentation, followed by a challenging case on The Ocean Cleanup. Each group presented their findings at the end. After a group lunch and a tour of the departments, we headed to Utrecht for an in-house day at Zanders. Zanders, a consultancy specializing in treasury and risk management, welcomed us with an introductory presentation. The group was then split into two: one group worked on a case, while the other participated in a Zanders escape room. After the swap, the day ended with a group dinner, where students had the opportunity to engage in in-depth conversations with Zanders professionals. This marked the end of the Finance Expedition 2024. Challenges Along the Way During the organization of the Finance Expedition 2024, planning proved to be a significant challenge. Scheduling meetings with seven committee members is not easy, as everyone has a busy agenda. One tip that helped me was to schedule the next meeting at the end of each session using a tool like When2meet or LettuceMeet. This saves a lot of communication afterward. Additionally, flexibility is crucial: physical meetings are important for comprehensive agenda points, but shorter meetings are often more efficient online. What I Learned Organizing the Finance Expedition taught me valuable skills, such as planning, teamwork, networking, and communication. Additionally, it gave me more insight into my own ambitions within the finance world. It was very fulfilling to organize an event that helps others advance in their careers. I look back on this experience with pride and am confident that the Finance Expedition 2024 left a lasting impression – both on the students and the participating companies. Why Joining a Committee Is Worth It If you get the chance to join a committee, seize it with both hands. It’s an experience that will help you grow both personally and professionally. Organizing this event gave me insights not only into the financial world but also into my own skills and ambitions. My Experience with Asset Financials I have been a member of Asset Financials since February 2023. In addition to organizing the finance expedition, I have also been part of the financial business dinner 2023 committee which was a valuable experience as well. I appreciate how Asset Financials bridges the gap between students and companies and fully commits to this goal. The study association offers both formal and informal activities where you get the chance to meet new people! I highly recommend getting to know the association by signing up for a few events. It’s a valuable experience you don’t want to miss!
Accounting Expedition 2023: Looking back
For the Dutch version, click here. On March 1 and 2, 2023, the Accounting Expedition took place. This event allowed a large group of motivated students to visit the Big Four in Accountancy. This way they could discover if a future as an accountant was for them and if so, which firm of the Big Four appealed to them the most. EY On Wednesday morning Ernst & Young, better known as EY, was allowed to kick off the Accounting Expedition. We received a warm welcome at their office, a ten-minute walk from Eindhoven station. There we were welcomed by campus recruiter Lisanne and her colleagues. During the opening, the question “What is your favorite series/movie?” quickly caught our attention. As it turned out, this partner had pretty much played Netflix and thus knew a lot of series. So besides hard work there is definitely time left to relax by watching a good series, was the conclusion. Then we moved on to an audit case. A case that consisted of detecting fraud. We were allowed to request documents and invoices from four different employees of ‘Wokking Good’ in order to discover who had committed the fraud. An even more important question was ‘how was this fraud actually committed?’ In the end, it turned out that the administrative assistant had transferred amounts to her own account. We concluded with a delicious lunch where we had the opportunity to talk to employees for the last time about auditing at EY. KPMG The second office on the first day was scheduled to be KPMG, less than a five-minute walk from EY. There we were warmly welcomed by campus recruiter Thijn and his colleagues and given a presentation about KPMG. There we learned what the opportunities are and what KPMG is all about. A partner also joined us who told a very interesting story about his career in America. When we were saturated with theoretical information about KPMG, we could get started with the case. In this we were allowed to analyze several transactions from an Excel database. From this database we then had to derive transactions that were fraudulent. Here we learned that there were all kinds of metrics and theories that could classify transactions as fraud. We ended the evening in the center of Eindhoven with a well catered dinner. Here we had the opportunity to speak with KPMG employees in a relaxed manner for the last time. Thus, after dinner the first day came to a formal end after which we, together with the participants, concluded the day at the hotel with a small drink. PwC After breakfast at the hotel we were ready for departure. This time PwC was on the program where we could almost roll from the hotel. It was very easy to reach because of its location near Eindhoven train station. In the morning we were welcomed by the campus recruiter Carmen and her colleagues on the top floor of the office. Here we first got a presentation about PwC and what the possibilities are within PwC. We also started with a tour of the office, which was certainly not disappointing. After we had finished the introduction round and the presentation, we could get to work on the case. The case we had to sink our teeth into was about a festival organization. The organization had several problems that needed to be dealt with and it was up to us to solve this as well as possible. For example, one of the questions was “how do you value tickets that each board member gets to give away to family?” or “how do you deal with criticism from local residents and what financial impact does this have on the organization of the festival? After we completed the case, it was time for lunch in town. Here we were just barely buried under the delicious food. All in all, a very successful case and lunch! Deloitte As the last office, Deloitte got to conclude the Accounting Expedition. When we left PwC, cab vans were soon ready to take us to Deloitte as it was unfortunately not within walking distance and public transport was on strike that day. We were well received by the campus recruiter Emily and her colleagues after which we could start with the presentation about Deloitte. Here we learned what is possible at Deloitte and what kind of employees work at this firm. Fortunately, there was no heavy audit case on the program here, but a Business Chemistry test. This reminded us of the DISC test: a personality test based on four colors. Red stands for direct and decisive (“Dominance”). Yellow stands for interactive and inspiring (‘Influence’). Green stands for stable and social (‘Steady’). And finally, blue stands for conforming and correct (‘Conscientiousness’). In this way we found out, through various tests, which personalities we had and in what way you can best cooperate with other personalities. Teamwork makes the dream work’ is an appropriate saying. In this way it also became clear that neurodiversity is highly valued at Deloitte. We ended the day with a well-cared-for dinner at eating café Spijker! So with this last dinner at Stratumseind, the Accounting Expedition 2023 came to an end! The train to Tilburg left late in the evening, after which we were back in what could be called the most beautiful city in the country. We would like to thank all participants, recruiters, employees and the organization for a wonderful edition of the Accounting Expedition. We therefore hope that this event provided new valuable insights to the participants and they are a step further in their career choice!
Finance Expedition 2022: Looking back
For the Dutch version, click here. After 2 years when we had to organize the Finance Expedition online because of Covid-19, this year it was finally time again. On November 7 we left for Amsterdam again for the Finance Expedition. Over a period of 3 days, 24 students visit 2 companies each day within a particular pillar of Finance. This event is organized by Asset|Accounting & Finance in cooperation with Asset|Econometrics Ready with all the goodie-bags, suitcases and healthy excitement, the committee was waiting at the back of the station. Gradually the students arrived and well on time we left, in the beautiful Willem II bus, for Amsterdam! Once we arrived at the Holiday Inn on the Zuid-as, there was, after everyone had quietly gone to their rooms, the opportunity for the enthusiasts to have a drink in the bar to get to know each other better. Unfortunately, we had to go to bed fairly early because the wake-up call was set for 7 o’clock. Day 1 On Tuesday, November 8, we visited BDO and Oaklins, both specializing in the Mergers and Acquisitions branch within Corporate Finance. First up in the morning was BDO. Upon arrival at the office we were welcomed by the staff and were immediately pampered with coffee, tea and a little sweet. The program started with a short introduction about BDO and the opportunities that students have within BDO. After this, we were given a case in which we, as BDO employees within the Due Diligence process, had to determine the EBITDA (Earnings Before Interest Taxes Depreciation Amortization) of a sizeable company as best we could. At the conclusion, each group had to present their thought process and final EBITDA. The morning ended with a delicious lunch that presented the opportunity to personally interact with BDO employees. After lunch we had to quickly move on to Oaklins. Thanks to a grumpy bus driver who didn’t want to wait 10 seconds for us, we arrived at Oaklins 5 minutes late. Fortunately, no problem. Again we were welcomed with coffee and tea at Oaklins and after a short presentation about Oaklins as a company we started the 2nd case of the day. In this case, we as participants had to advise some employees of Oaklins whether or not they should take over a company in the travel industry. For this, we were given an extensive information memorandum and the opportunity to speak with both the “CEO of the company” and an “industry expert”. We had 1.5 hours to arrive at our advice. After a presentation in which everyone pitched their advice, it was time for dinner. Oaklins had arranged sushi and after dinner took us to ‘De Blauwe Engel’, a cafe on the Zuid-as where we enjoyed a small drink with some of the employees. Day 2 On Wednesday, November 9, as usual the alarm clock went off at 7 a.m. and this time we visited ING and a.s.r., this day was all about Asset Management. Arriving at the ING headquarters at the Bijlmer, we were given an introductory presentation on the future and vision of ING as a bank mainly within the Netherlands. ING discussed the case in the whole group and it consisted of analyzing a loan process that ING had provided to a transporter of fresh vegetables. We discussed the case with 2 employees who actually participated in this process and we covered the whole loan process, from initial application to, unfortunately, eventual bankruptcy. After the case, we also got a presentation from the CIO (Chief Investment Officer) of ING, he explained to us how portfolios are selected and built. After all the very interesting presentations, we unfortunately had very little time for lunch that ING had arranged. Although we had to eat quickly, it was again very tasty and in no time we were on our way to a.s.r. in Utrecht “The event was created to give students a bridge between theory from undergraduate school, what companies are actually doing with that knowledge and how it is applied.” Arriving at a.s.r., most people noticed one thing: how big the office is! Truly a huge, and beautiful office with a lot of glass allowing a lot of natural light to enter. During the introductory presentation we were shown the rich history of a.s.r. as an insurer. Also discussed was their recent acquisition and future vision of Aegon. After a short coffee break, it was time for the case. We were divided into groups and were given the task to even-out a.s.r.’s balance sheet during a variety of times of economic uncertainty. A news event was shown affecting an asset and/or liability and it was up to us to manage our insurance, equity and real estate portfolio in such a way that we as a.s.r. continued to make a profit. I thought it was a very original case as it combined Asset Management in the setting of a trading game often played at Market Makers at in-house days. After the case, it was time for drinks and pizza! Day 3 The last day had arrived and once again we were out of bed early! Thursday, November 10 was all about Risk Management, we visited RiskQuest in the morning and Deloitte in the afternoon. Arriving in the beautiful canals of Amsterdam, the relatively small office of RiskQuest was located in a beautiful canal house. After an introductory presentation, we were given a short tour of the office. The highlight was the office of one of the partners. In the ceiling of his office were several beautiful paintings from the time of Rembrandt, together with the beautiful view over the Amsterdam canals and the enormously comfortable office chairs. I am amazed that people still get work done! During the case, we were divided into groups and pretended to be employees of RiskQuest hired by a Luxembourg bank to recalibrate their Probability of Default Model. We then had to present our findings and a new credit risk model.
