Name:
Mike Cowell

University/Degree:
Bachelor of Business, UTS

Major:
Finance and Latin American

Graduate Program:
WIB Generalist

• I'm glad I chose Westpac because...

  Westpac has the right balance between work and play. Westpac provides a challenging environment with a strong emphasis on results and achievement, while also having a culture of support and flexibility which encourages external pursuits and interests. Westpac is also a great employer, with a strong commitment to corporate responsibility and sustainability.

• During the Graduate program I did rotations in...

  • Research - Financial Institutions, Health and Government (part of CIB)
  • Specialised Capital Group (SCG) - Principal Group
  • Corporate Banking (part of CIB)

• A day in the life (during one rotation)...

  • 8:20 Arrive at desk- check emails, catch up on news, and prepare for day
  • 9:00 Meeting with placement manager re issues associated with subprime market meltdown in the US (I was writing a research paper on the subprime mortgage market in the US - before the market imploded)
  • 10:00 Coffee (a must for the day)
  • 10:10 Research further and act on feedback from placement manager
  • 11:00 All-in team briefing for industry team (Financial Institutions, Health, Government). This is where all matters regarding the industry team are discussed (recent events and deals completed, housework issues, financials for the team, and often someone gives a presentation)
  • 12:00 Lunch outside with graduates/other friends in the bank
  • 12:30 Work on research paper, including speaking with specialist analysts and financial markets specialists for their opinion.
  • 2:30 Taken to an internal meeting regarding a new deal which they will need some help on.
  • 4:00 Do my own background research and analysis into the new deal and start acting on the specific areas designated to me.
  • 6:00 Write emails and check diary for meetings and activities for the next day/s.
  • 6:30 Home time

• Describe a task that defined your rotation...

  In the Specialised Capital Group I was involved in the bid preparation for a significant Australian infrastructure project. My role was to collate information from people in all areas of the bank and create a presentation that we were to pitch to large building and infrastructure companies. I was lucky enough to be involved in the pitch, sitting in a board room full of executives, observing their interactions as ideas were discussed. It was an amazing experience- I was truly out of my depth but enjoyed every minute of it!

• What challenges have you faced...?

  Initially the biggest challenge I faced was when meeting people in the bank, to understand what team they worked in (unscrambling the acronyms and jargon) and the functions of such an area. This challenge does subside over time, but only after plenty of mistakes!

  There have also been times when I have been given assignments that have stretched my knowledge and skills in a particular area. While these were daunting at first, people in the bank were always happy to help and provide advice where needed.

• What training did you receive...?

  Training was plentiful in the graduate year. I received training in financial modelling and excel, credit analysis, business writing and communication skills, influencing skills, mentee training, and attended leadership and motivational seminars. On top of that, I received coaching from colleagues, team-specific training and online training.

• How does Westpac facilitate networking...?

  To the envy of other colleagues, as a graduate you have the opportunity to meet and befriend people from all over the bank. Networking is facilitated through a mentor program (mentor is usually a senior person in the bank), having a buddy (generally with a graduate from previous years), the rotations (including a placement manager for each rotation), training programs, opportunities to join work groups (e.g. Graduate Sustainability Group), many social events/activities and of course Friday afternoon drinks!

• What are you doing now...?

  I am a credit analyst in Corporate Banking, where I did my last rotation. Corporate Banking customers are generally the smaller (and riskier) customers of WIB, and can be from a broad range of industries. The role of a credit analyst is to sit between the Relationship Managers and the Credit Department. We analyse and write up proposals for new deals (e.g. selling debt, financial markets products, transactional banking) as well as monitor existing exposures.

• How is Westpac preparing you for your future career...?

  Westpac is very focussed on making sure you are always improving your skills not only so that you are more competent and efficient in your current role, but so that you can pursue other opportunities within the bank when they arise. Currently my manager and I are completing a development plan which identifies areas for development in the next year, and then applies specific trainings and activities to improve these areas. Every employee has a development plan and is highly encouraged to act upon it. Finally, the skills that are learnt from working in a leading bank with such quality people and values will prepare you well for any career in banking/finance.