【官方答疑】2017 CWRU/CASE ORSC Operations Research&Supply Chain 凯斯西储大学运筹学与供应链

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Bob Kula at KeyBank
By: John Duggan and Joslynn Clauson

        On November 14, we had the pleasure of conducting an informational interview with Robert Kula, EVP and  the Chief Modeling & Analytics Officer at KeyCorp. We were extremely excited to meet Mr. Kula, and learn more about the bank.  Overall, the goal of this interview process was to gain insight into the various working roles that graduates from CWRU Weatherhead Specialty Masters Programs could potentially fulfill upon graduation.

        After two and a half hours of speaking with Mr. Kula, we had a much better understanding of the business environment at KeyCorp. Mr. Kula and his office assistant Anita provided us with an excellent interviewing opportunity, and gave us many insights into the bank, as well as into a career possibilities within Risk Management. In the following Q&A style write-up, we share Mr. Kula’s answers to some of our most pressing questions about Risk Modeling & Analytics at Key, hopefully giving our readers a more robust view of this industry and company.

What do you do? What are the duties/functions/responsibilities of your job?
I lead the Risk Modeling & Analytics team within Risk Management.  It is a team of roughly 100 modelers and analysts focused on providing solutions to drive business strategy and maximize the risk/reward trade-off.  Members of the team have undergraduate and graduate degrees across a wide spectrum of majors, including but not limited to math, physics, financial engineering, computer science, economics, and finance.

My team is responsible for a number of activities, including stress testing, which gauges the bank’s ability to withstand economic downturns and other adverse events impacting the industry.  The term “CCAR” (Comprehensive Capital Analysis and Review) and stress testing have become synonymous in the banking industry ever since the Great Recession.  So credit loss forecasting is an important component of the stress testing process.  The team also builds numerous models that are used in the credit decisioning process and in the financial crimes space (e.g., anti-money laundering and fraud).  Additionally, the team calculates the bank’s loan loss reserves.  
Every day I am very focused on the most important asset in the bank – the people.  My role is to make sure my team is equipped with the right tools to do their job, which includes providing the appropriate training and education along the way.   I am very focused on being an “exporter of talent” which allows members of my team to advance in their careers to other positions either within Risk Management or other parts of the bank.

I report directly to the bank’s Chief Risk Officer, Bill Hartmann.  He reports to the bank’s CEO, Beth Mooney.

Why did this type of work interest you, and how did you get started?
My first exposure to Risk Management and analytics was when I interned at Firestone Tire and Rubber in their Credit department.  (Note that Firestone became Bridgestone/Firestone in the late 80’s.)  At the time, I was working on my undergraduate degree in Computer Science.  Upon graduation, I worked there full time as I continued on for my MBA (Finance Concentration).  I then worked in their Finance department until I came to the bank in the early 90’s.

My interest in numbers, though, started at a very young age.  Back when I was a kid (before video games) all sports board games involved either dice or spinners (believe it or not).  While I loved playing the games, I liked keeping the statistics even more, and analyzing them.  So numbers and analysis were always fun.  I likely would have majored in math if computer science had not been the “sexy” degree at the time I was in school.  

What part of this job do you personally find most satisfying? Most challenging?
Working with my team at Key is the most satisfying part of his job, because as I noted before, the people are the bank’s most important asset.  Building and leading a team is very important to me.  This includes providing training and education, and exposing people to other areas of the bank.  There is nothing more rewarding than seeing an employee that had worked for me progress in their own career.  In addition to working with people, I enjoy presenting at Board and Committee meetings, as well as at outside industry conferences.

As far as challenges, for me the hardest part of the workday is to know when to go home.  So creating the right work/life balance is something that requires my attention (quite regularly).  I believe it is important to find a work environment and job that brings you satisfaction.  As far as one’s work/life balance, I sometimes think that feeling that you are “falling just a little short on every component of your life” might in fact be the closest one can get to a perfect “work/life” balance.

What do you like most about Key, and what advice could you give us for working in a career like yours?
I most like working at a bank that values its employees.  I thank Beth Mooney and Bill Hartmann for creating this type of environment within Risk Management and Key overall.  I am proud of an organization like Key that embraces diversity and inclusion.  All of this allows employees to thrive, and to focus on doing the things to best serve Key’s clients.   I also like the fact that my team works on many high profile initiatives of the bank, including stress testing and the bank’s recent acquisition of First Niagara Bank.  Playing a major role in these types of initiatives is very rewarding.

My advice would be to continue to learn every day.  Do not come out of school thinking that the learning part is finally over.  A lot of my learnings these days come from our new hires. Whether it be new technologies or social media, I am learning more now than ever.  Things change very quickly, so being open to change is essential these days.  In fact, change needs to be embraced.  Finally, it is also important to not be afraid to ask for help.  Everyone needs help on occasion, and only through raising one’s hand and escalating can some issues or challenges be best solved.

How is the economy affecting this industry?
Banks have been around for a long time, and they will continue to be around.  Banks like Key have weathered the storm of economic downturns for almost 200 years.  They will continue to be there to provide financial services and advice for the clients they serve in good times and bad.  Every day, Key is focused on helping our communities grow, whether it be by helping a couple settle into their first home, or helping a company serve new markets.

The banking industry has embraced analytics much more in recent years.  Analytics have helped identify areas of growth as well as new business opportunities.  Analytics also allows the bank to be more proactive than reactive from a risk management perspective, i.e., uncovering challenges and/or issues before they turn into problems.  Being strong analytically can help a bank differentiate itself from the competition, and thereby optimize the risk/reward trade-off.

What can you tell me about the employment outlook in your occupational field? How much demand is there for people in this occupation? How rapidly is the field growing?
I feel that the employment outlook is very good with increased demand for employees who can perform modeling and analytics.  Not only the largest banks, but regional banks like Key need to have strong modeling and analytics teams.  A recent industry study noted that while 15% of risk management positions at financial institutions are deemed “analytical” today, it is estimated that by 2025 that number will grow to 40%.  And I agree with this.  Banks that do not focus on analytics will fall behind.
Sound interesting?  Read on for specific information about your degree, and how a career at Key could work for you!

    If your degree is in Finance, Business Analytics, or OR/SC (Operational Research and Supply Chain), you would have the skills that could be utilized at financial services companies like Key, particularly in their Risk Modeling and Analytics group within Risk Management.  There are a wide range of modeling and analytical functions that would align with the skillsets that you are gaining.




Conclusion:
        Mr. Kula had some interesting advice for interviewing at a company such as Key. Candidates that make it to the interviewing stages are all bound to have very well developed skills.  So communication skills and an interest and knowledge about the bank become differentiators.  Also, if you have something you want to share during the interview make sure you do so.  If you have done volunteer work, extra projects, or interesting internships make that known.  A person that can contribute to the diverse thinking and diverse background of the team is someone that Mr. Kula thinks can make it to the final stages. The desire to learn new things is an attribute that many employers, not only Mr. Kula, search for in candidates.
Mr. Kula also gave us some insight with regards to the overall application process with Key if readers are interested in exploring things further. First apply online at Key.com with an updated, complete, and thorough resume and cover letter displaying the value that you would bring to the company. Second, contact a recruiter if possible via LinkedIn informing them of your submitted application and interest in working for the company.  Finally, set-up a professional voicemail and make sure to check your email or application status for updates.  
Recent Weatherhead graduates have accepted positions at Key Bank as Quantitative Risk Analyst, Quantitative Risk Modeler, Risk Analyst and Lean Six Sigma Process Design Consultant.

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LisaDunnigan and Melissa Smith

By: JohnDuggan and Joslynn Clauson

On November 21st, we had the privilege of meeting with Melissa Smith and Lisa Dunnigan at Progressive’s headquarters just outside of Cleveland in Mayfield Village. Melissa Smith is a senior talent search specialist and Lisa Dunnigan, who serves as a talent acquisition sourcing manager. Both are heavily involved in the company’s analyst hiring process. Lisa Dunnigan is also a Case Western Reserve University graduate, earning her MBA.

Before we discuss the actual content of the interview, we would like to take a moment to talk about the remarkable art tour we were a part of!  There were so many art exhibits in the Progressive campus, ranging from beautiful and decorative to edgy and controversial - it was clearly an environment tailor-made to induce creative thinking and inspire both guests and employees.   The art even inspires the names of board rooms and meeting areas!  The culture at Progressive was palpable, and we could feel it the moment we set foot in the building. Featuring a gym, wellness center, robust food court, and other comfort amenities, it was easy to tell that Progressive cares about the wellbeing of their employees.  We thank Progressive for the opportunity to tour their amazing facilities, and get more information about the company’s exciting analyst opportunities.

What do analysts do? What are the duties/functions/responsibilities of your job as an analyst at Progressive?
An analyst at Progressive is responsible for solving many different types of complex problems and modeling environments.  Analysts answer questions regarding probability and statistics, with a focus on return on investment or loss prevention.  Progressive analysts also focus on new product construction and market research for new types of bundles or packages of goods, as well as services for consumers.  Finally, Progressive analysts get to “play with” and explore data from new and interesting sources, such as Progressive’s usage based insurance technology, Snapshot.  They look for patterns and data-mine the information, hoping to uncover correlations that could be used to benefit the company and consumers by personalizing insurance.

Why is this type of work interesting, and how do people get started?
        Melissa said two words that resonated with us: Cool Tools!  Some students  thinking of working in insurance envision somewhat dry work, running dry, bland regressions and making dry, bland predictions – but Progressive doesn’t foster this type of work at all!  They are using the latest tools and analytics to change how insurance is done… from software “new kids on the block” like Hadoop and R, to the tried and true favorites like SAS and SQL, there is a place for all programming and analytics styles at Progressive.  Lisa explained to us how insurance is an exciting industry that is joining other analyst-heavy industries in utilizing modern (and progressive!) tools to get the job done.

What part of working for Progressive do you personally find most satisfying? Most challenging?
Melissa’s Personal story:
Melissa continuously spoke of the people that she works with. Regardless of profession or role within the company, Melissa believes that the work culture unites everyone who surrounds her. The synergy of striving for the same goal and integrating others’ feedback into many different innovative projects is why Melissa believes that she works with a fantastic group of people. In describing Progressive’s collaborative culture, she was once told by a family friend about working at progressive, “either you're there for one year or forever.” Melissa believes that what could be said about the culture amongst her colleagues could be said about the entire company.  She describes this culture as collaborative and geared toward creating processes that result in excellent outcomes. For people at Progressive, they are not afraid to ask questions, challenge the status quo and collaborate to reach common goals.

Progressive is committed to fostering an environment that values employee work-life balance.  Melissa was able to point to a specific instance in her career at Progressive that exemplified the company’s commitment to this. At her seven-year mark, Melissa was thoroughly involved in Progressive and viewed as a valued employee. Around this time, she was a full-time employee and was thinking about having a child. At some point, she informed her manager that she was going to quit or take extended leave to focus on her growing family. When her manager heard this, she went to her leaders to discuss how the company should move forward. The entire leadership team decided that they were not going to lose her. They chose to allow her to work part-time so that she could be with her son during his early childhood. When Melissa felt that it was time for her to go back to full-time work, she was given the opportunity and retained her seniority. This is one of the reasons that Melissa chose to stay with Progressive for such a long time.

As we can see from Melissa’s story, Progressive works with employees on individualized career paths and values work-life balance.

What do you like most about Progressive, and what advice could you give us for working in a career here?
        Progressive is a place where forward thinking and inspiration are an important part of the everyday work atmosphere.   The people, per our interviewees, are the best part of the job.  Everyone, from the CEO to an entry-level analyst, is taken into respectful consideration during the decision-making process at Progressive.  Once, during a meeting, the CEO was humble enough to say that her goal at work was to, “not let you guys [every employee at the company] down.”  Humility, even at the highest level of a massive corporation, helps set Progressive apart.

At Progressive, there is also a culture of unprecedented trust in employees - there are gyms, quiet rooms, cafes and engaging artwork, that help employees feel comfortable and free to do their work in an environment that suits them best.  This trust helps employees be more productive and design a schedule and work lifestyle that matches their home lifestyle.  This helps them to take greater ownership of their work. There is also a culture of dressing in a way that makes you the most productive. Employee ownership of their professional lives helps create a dynamic, inspiring environment where people enjoy coming to work.

There were three major pieces of advice Lisa and Melissa gave us about working in a dynamic, employee-focused environment. First, we were told that places like Progressive are looking for people who can not only do good work by themselves, but also work together so that the collective efforts of the team are elevated.  Being someone that knows how to add value, and who can receive feedback in a thoughtful, productive way is a major asset in an environment focused on employee relationships.  Secondly, individual accountability is key in order to ensure continued excellence aligned with the flexibility that Progressive offers.   The Progressive environment relies on open communication and everyone putting in 110% effort.  It’s important that team members can be counted on and rely on each other. Finally, connect with your coworkers.  Community-centric and inclusive employee environments thrive on connection and accountability between people and building these connections will not only increase your happiness in the workplace, it will also increase your productivity and creativity!  Companies like Progressive need people they can trust, and people who thrive in an environment where they can be themselves.

What can you tell me about the employment outlook in this occupational field? How much demand is there for people in this occupation? How rapidly is the field growing?
Analytics and programming are exploding right now in Progressive, as well as in other statistically oriented fields. There has been massive growth in this sector as Progressive and others begin to leverage their data warehouses and search for potential cost savings or profit opportunities.  

Where you end up working amongst a team at Progressive depends on who you are, and what you bring to the table, as noted by Melissa. There are a variety of specialized teams that analysts can be a part of at Progressive, such as teams that deal with claims and subrogation issues. There are also teams that handle optimization problems involving various real estate topics.  Another team deals with R&D, which involves heavy statistics and predictive analysis.  ORSC students could fit comfortably within these specialized teams at Progressive, as these teams deal with risk assessment and analysis. Insurance is a customer, people-centric business where analysts can impact company practices and more importantly, customers.

In terms of job growth, the job outlook for data related positions is very positive. Progressive is always looking for bright minds to come into the various quantitative teams and make a significant impact.

Sound interesting?  Read on for specific information about your degree, and how a career at Progressive could work for you!
        Progressive looks for individuals who want to be a part of a growing work environment promoting excellence in all areas. The most basic requirements to be a prime candidate in their eyes is a bachelor’s degree and an analytical aptitude. The teams that want analysts in these positions prefer working knowledge with SAS and SQL. Knowledge of these two programs are beneficial when contributing to teams early on. Additionally, general knowledge of R or Matlab, paired with advanced Excel, is a huge asset to the team, and helps make candidates stand out. Other such programs that were mentioned in the interview were Hadoop, Python, and Tableau.

        Students who are currently in the MSBA and ORSC programs have skills that directly apply to many of the jobs mentioned in this article. With a little outside knowledge and passion about various other programming languages not explicitly taught in class, the skills learned will directly or indirectly transition into a promising career at Progressive. The only next step is to apply and show passion!

Knowledge of the coding languages mentioned above is prevalent among students in the MSBA and ORSC programs, but not specifically in the Finance programs. Progressive often has Finance positions available, from auditors to accountants, which usually require several years of experience. Progressive also has an accounting internship and rotational program and participants are given a first look for full-time positions. Some of these positions require strong knowledge of strong knowledge of Microsoft Office tools (Word, Excel, PowerPoint, Access), intermediate query language skills (SAS, MBI, People Soft general ledger queries) and working knowledge of IT systems used for accounting and financial reporting.  

Conclusion:
When considering potential work environments, do you want to be surrounded by bland colors, traditional architecture and a dull perspective?  Or would you rather be part of an exciting atmosphere, full of artwork and color, innovative architecture and a renewed perspective? For us, the choice is obvious. Although not traditionally perceived by some students to be an innovative industry to work in, the environment that we experienced during our Progressive tour raised the bar for the work experience at an insurance company. With art exhibits intertwined within the topography of the common spaces, and such friendly employees, Progressive is a great place to work. With the growth of all fields related to quantitative research and sophisticated coding expanding, Progressive is looking for candidates who have sophisticated skills and passion for their work. Graduates from the specialty programs at Weatherhead are well-qualified to work in this field. The next step is to apply and show passion for working in a collaborative, winning atmosphere! With headquarters located in Northeastern Ohio, working for Progressive can be a great transition from being a full-time student, to entering the workforce and leveraging the skills gained at Weatherhead.  Recent Weatherhead graduates have accepted roles as Pricing Analysts, Senior Resource Analyst and Resource Planning Analyst II.

大脸猫上上

Mark一下！               

tbbooo

顶楼主！               

luoluodlo

问个不太适合但是很多人都会问的问题，同是供应链专业，case western和隔壁的osu该怎么取舍。很多介绍osu或者cwru供应链的帖子都只在介绍自己专业，但同处俄亥俄，osu专排顶尖，业内有名，而cwru综排占先；另一方面，虽然两者课程设置都偏数理，但cwru还在business core和scm core中提供些许软性课程，同时还有sap workshop，R语言等，更加综合，而osu与工学院共同授课，数理要求更高难度更大，让很多本科时商科背景的申请人担心能否轻松应对。所以我觉得楼主要是能稍微对比下两个项目会对新生们比较有帮助。

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luoluodlo 发表于 2017-3-10 16:44
问个不太适合但是很多人都会问的问题，同是供应链专业，case western和隔壁的osu该怎么取舍。很多介绍osu或 ...

谢谢你的建议。我们主要是介绍自己的项目，为大家提供信息，方便大家选择最适合自己的项目，具体的比较还是需要大家结合自身条件多方面权衡做出的。

土豆圆酱

楼主可以拉一下我进群嘛？472926540微信号，二维码失效啦

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土豆圆酱 发表于 2017-4-13 13:27
楼主可以拉一下我进群嘛？472926540微信号，二维码失效啦

ok！

土豆圆酱

CASE_ORSC_2 发表于 2017-1-10 06:11
18个月的项目，总共的学费是53223刀，同学有10%到30%不等的奖学金。生活费要根据个人的生活质量定，这边 ...

楼主您好，奖学金是所有被录取的人都有吗！我刚刚拿到录取，第3轮才申请的，没有说奖学金，小失落

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土豆圆酱 发表于 2017-4-27 10:32
楼主您好，奖学金是所有被录取的人都有吗！我刚刚拿到录取，第3轮才申请的，没有说奖学金，小失落 ...

不是所有人都有奖学金的