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2023 Summer Associate Internship: Finance, Accounting, Tax, Treasury and Procurement

POSITION SUMMARY:
The 10-week 2023 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 or 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 Planning and Analysis (FP&A)
These roles support 2 main finance groups: Business Finance Office (BFO) & Corporate Financial Planning and Analysis (CFP&A). FP&A interns provide 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 financial planning, budgeting and forecasting requirements. 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.
  • Present and clearly articulate 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.
  • Incorporate of productivity and continuous improvement methodologies to ensure long-term success.
  • Create transparency around cost allocations to drive business-focused discussions.
Global Supplier Services (GSS)
GSS provides best-in-class supplier governance and is committed to value creation and innovation.  The roles within GSS support three paths to include Sourcing, Vendor Management and Strategy, Technology & Operations. As a part of the GSS team, you will have the opportunity to use your knowledge to:

  • Support special projects and continuous improvement initiatives, make recommendations, produce and present deliverables to GSS leadership
  • Develop the scope and timelines for special projects, and engage with stakeholders as needed across OCFO
  • Become familiar with TIAA’s systems, processes, procedures, and templates
  • Actively participate/collaborate in meetings with business partners, colleagues and third parties under the direction and guidance of leadership
  • Assist in issues management and learn basic negotiation skills to positively influence positive outcomes
General Account Office (GAO)
This team oversees the $290 Billion of investments in TIAA’s General Account (GA). You will work alongside the investment professionals who cover the private equity portion of the GA and will assist with work related to benchmarking performance, developing dashboards related to investment results, and measuring investment performance against ESG-related KPIs. The assignment will require engagement with various portfolio management teams within TIAA’s Investment Advisor (Nuveen) as well as the TIAA/Nuveen Financial Risk team. At the end of the assignment you will be asked to present your work to the CIO and the investment professionals within the GAO. Skills and interests that will be valuable for this role include:

  • A “Problem-solving” approach to your work
  • Conscientious and detail-oriented person with some demonstrated interest in and knowledge of private investments
  • Enjoys working in a team setting, but is flexible and can also do well advancing individual tasks
  • Interest in real assets investing: commercial real estate, infrastructure, farmland
  • Knowledge of and/or interest in Private Equity investing, including buyouts, structured equity, and/or venture capital
  • Good communication skills
  • Active and engaged learner
TIAA Corporate Treasury
The Corporate Treasury team supports the cash management and liquidity strategy, bank account management and capital market activities of the enterprise in an accurate and timely manner. Working independently under general supervision, this individual will participate and perform daily cash flow monitoring and reporting as well as financial transaction and status reporting.  The group is also involved in various strategic initiatives and the individual will be responsible for 1-2 projects, working closely with other treasury team members throughout the internship. At the end of the assignment you will be asked to present your work to the Treasurer and the treasury professionals within the GAO/Treasury. Skills and interests that will be valuable for this role include:

  • A “Problem-solving” approach to your work
  • Conscientious and detail-oriented person with some demonstrated interest in treasury
  • Enjoys working in a team setting, but is flexible and can also do well advancing individual tasks
  • Good communication skills
  • Active and engaged learner
REQUIRED SKILLS:

  • Currently pursuing a Bachelor’s degree
  • Graduation date between December 2023 and August 2024
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)