Kerouac’s ‘On The Road’

 

As I transitioned from my role with my former company I felt compelled to read several books that I would otherwise never had the time for – I was stuck on a cruise ship for 9 days this past February and visited the library (it does exist) to help pass the time. Cruises may seem like a great idea from the outset, however I would caution any potential ‘cruiser’ to re-consider their options. In any event, I always had an interest in the so-called ‘Beat’ generation that originated in NYC in the 1950s  – a collective of artists and writers that centred on ‘innovations in style, experimentation with drugs, alternative sexualities, an interest in Eastern religion, a rejection of materialism, and explicit portrayals of the human condition.’ Jack Kerouac was a central figure in this pivotal juncture in literary history and I felt the need to read his best-known piece ‘On The Road’.

‘On The Road’ is a semi-autographical account of Kerouac’s travels across the United States and his interactions with a diverse cast of characters along the way – although the content is somewhat lacking in substance, one must ‘read between the lines’ to extract the true value. Kerouac himself is a literary genius and often credited as the pioneer of the revolutionary ‘Beat’ generation of writers, and while the bottle may have fuelled his creative juices, it would also be his eventual demise.

Sal Paradise, the protagonist of ‘On The Road’, is a misguided twenty-something adolescent searching for belonging through his navigation of America’s roads. He is often accompanied during his exploits by the free-wheeling Dean Moriarty, who often plays the role of antagonist, at odds with Sal’s moral compass. The genius of Kerouac lies in his ability to parallel these characters to the reader’s own circumstance, even some fifty-odd years after publication. I must say I did envy Sal’s unbridled optimism each time he set out on his next trek – no destination, just an enthusiastic outlook as to what the road held for the journey ahead. Any degree of hesitancy was often overshadowed by his buddy Dean’s overbearing nature and full-speed ahead approach to their adventures.

As I progress through my MBA journey I do think back to Sal Paradise – how carefree and easygoing he must have been throughout his travels, where he would have been today had the bottle not got the better of him and most importantly, what words of wisdom he would share with a fellow ‘traveller’ such as myself. I feel I’ve channelled my inner ‘Sal Paradise’ and am charting my own course through the MBA program – new experiences, eager to take on challenges and excited for the adventures that lay ahead. I have also been blessed with connecting with an interesting group of individuals that have helped shape my experience. Most importantly however, have been the ‘Dean Moriartys’ I have met along the way, who have pushed me beyond my comfort zone and will make this experience far superior than any road Sal Paradise ever travelled.

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Know Your Customers – For Better Or For Worse

I recently read an article sent to me by my Finance Mentor titled “Toontown Bank Ignores Policies and Procedures – And Pays for It” fictitiously written by Paul Phillips in the February, 2013 edition of The RMA Journal. The piece reflects key principles  that guide the financial services industry – specifically the following of credit policies and procedures to mitigate risk, the reconciliation of inconsistencies in financial information and the need for an independent third-party for oversight. The aforementioned points are just table stakes of any relationship between borrower and lender – the fundamentals that must be satisfied before a relationship can progress. While satisfaction of these and other lending principles may get a client through the door, sole reliance on them should never guarantee a seat at the table. The key takeaway from this article is the need to validate the character of anyone you do business with and move beyond the ‘face-value’ of information. This extends beyond the financial services sector and is applicable to any industry that values integrity, character and moral objectivity. As was the case in the ‘Toontown’ article, the lender was blinded by the prospects of a lucrative new client and bypassed critical credit procedures to expedite the lending process. The disregard of established credit policies coupled with a lack of due diligence in regards to background research and verification of the customer led to significant financial losses for the institution. The ambitious lender chose to conduct business with the client on terms that deviated from the institution’s normal practices in an effort to be accommodating and develop the relationship further.

The need to ‘know your customers’ is critical to relationship-management in financial services and other sectors, however I will add a caveat to this statement – do not let the ‘good’ aspects over-shadow the ‘bad’ or concerning characteristics. This is applicable across a wide spectrum of industries and extends to other areas of society – one need only open the newspaper for examples of how proper oversight and due diligence on one’s character and background could have prevented an issue or grievance from occurring. Pundits would argue that ‘hindsight is 20/20’ in nearly every instance, however I would counter this cliche with another and stress that ‘history repeats itself.’ Risk management often focuses solely on financial indicators and past performance and less on intuition and common sense – again a dependence on the evaluation of a customer solely on face-value is a very slippery slope. Red flags must always be approached with caution and given the same respect as the positive characteristics of potential customers or business partners.

The rush to ‘get a deal done’ should never compromise the process – policies are in place for a reason, however even these do not provide the blueprint to evaluating one’s character – this comes from experience, intuition and consensus amongst respected peers. While the ‘Toontown’ piece is a fictitious account, it provides a sound example of how financial institutions can get ‘burned’ by sloppy practices as real-life instances occur on a daily basis. In closing, when finalizing a deal, new hire, partnership or other significant event, I encourage all decision-makers to take a step back, get a second opinion, go for a beer (or coffee), make a phone call, or do whatever is deemed neccessary to gain greater insight into the character of a prospective partner. Doing so will inevitably save considerable resources (and headaches) in future should the relationship go astray.

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How to land a job in Vancouver

As we progress through the MBA program at Sauder we are blessed by the many resources afforded to us by the Business Career Centre (BCC) – from mentorship opportunities to company information sessions, all provide very valuable insight into different industries and potential careers. There seems to be a recurrent theme throughout however, as many alumni and industry insiders are quick to point out that jobs in Vancouver are very limited, and we’d be wise to look to Calgary or Toronto for better opportunities with higher pay. While I too will admit that in certain industries these markets do look attractive (financial services in Toronto, oil & gas in Calgary), there is no reason to write off Vancouver. Although I have yet to actually land a job in Vancouver post-MBA, I do have 8 years of working experience in the city and fully intend on finding a job here. My exposure to many of the BCC resources thus far has provided me with some great tools to begin the job search, however my action plan is what will actually land me a job:

  1. Identify a ‘Growing’ Industry: I was fortunate enough to land my last two positions with companies at the infancy stage in growing industries  – I joined the Donnelly Group a few years prior to the 2010 Olympics, which proved to be a key turning point in our success. My time with Cactus Club saw huge growth in the ‘casual dining’ segment restaurant market, which I benefitted from tremendously. I plan on spending the next 3 months identifying an industry that I forecast significant growth in within Vancouver over the next 5-10 years.
  2. Make my Intentions Known: Once I have selected an industry or company that I identify with and can see myself pursuing a career in I intend on making my intentions known to everyone and anyone I come in contact with. While I may potentially run the risk of alienating myself from other opportunities in different sectors, I feel this is a necessary step in the ‘promotions’ process. Despite a booming population, the Vancouver business community is very small and ‘everyone knows everyone.’ Opportunities come from places you least suspect – family, friends, ex-colleagues, etc.
  3. Immerse myself in the Industry: I plan on making a list of the 10 largest employers within the identified sector and meeting with a representative from each company. Once I have learned the industry and determined where I fit in best, I will begin strengthening my technical skills and experience to raise my value in the eyes of potential employers. I will also utilize the BCC resources to continue the information collection. My course selection will also be based on what subjects are most relevant to the field. 
  4. Hustle/Network/Grind: The final component is the meat and potatoes of the plan – I intend on getting out into the business community and being visible, making contacts and landing a job. I will join all applicable organizations, go to key events, network through existing contacts and utilize my current leads. My prior role blessed me with a long contact list of key people across many industries, all of whom I plan on re-connecting with.

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Industry Research – Commercial Banking

Commercial Banking in Canada:

The Canadian commercial banking sector is appealing as a potential career option primarily due to the potential to utilize my relationship-building skills within it. I have a solid foundation in finance and feel I can expand on this with greater knowledge of the industry. Despite my limited experience in the banking sector, I know it is built upon the tenets of trust, communication and customer service – areas that I excel in. While financial competency is crucial, it is the aforementioned skills that cannot be taught and often differentiate the successful employees from the rest of the workforce.

Key Trends/Pressures/Changes:

• The Canadian banking sector is healthy and is recognized as being one of the strongest banking systems in the world – this has proven the industry to be a very safe and stable investment option during troubling economic times (Euromonitor, 1).
• The sector grew by 2% between 2006-2012, surprising given the challenges faced by the US banking sector. This growth was assisted by an increase in government intervention that restored trust in financial institutions (Euromonitor, 1).
• Growth within the banking sector will be driven by the development of new products – specifically high end, sophisticated financial services. The Canadian government has strengthened its position as a world financial centre and is focused on remaining attractive to foreign investors (Euromonitor, 2).

These trends indicate that there is growth within the sector and it has the support of the Canadian government to ensure this continues. Further, this would indicate that demand for qualified candidates would also be growing, providing an opportunity for me to enter the market upon completion of my MBA studies.

Geographic Considerations & Key Players:

Toronto is considered the centre of Canadian financial services and is the third-largest market in North America (Euromonitor, 2). Toronto, Vancouver and Montreal ranked 9th, 17th and 19th respectively, on the Global Financial Services Index for 2011 (Euromonitor, 2). The make-up of the banking industry comprises 77 banks, 47 trust companies, 19 loan companies, seven credit associations and one retail association, however the industry is highly concentrated with a few large firms (Euromonitor, 2). The key players in Canada are The Royal Bank of Canada, Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada and The Bank of Nova Scotia (Euromonitor, 2).

Analysis:

The retail-banking sector has played a large role in growing the financial services industry and will be important to its continued success. I have the right skill-set to make an impact in this sector given my background in finance and my relationship-building and management strengths. Commercial banking requires one to identify client’s needs and work together to develop a financial plan to help them achieve their goals. I take an analytical approach to tasks, however can incorporate elements of creativity to problem-solving in order to see the ‘bigger picture’. Further, through continued research into the commercial banking industry and I can move closer to my goal of a career within the sector.

Works Cited:

Euromonitor International. “International, Monetary Intermediation in Canada.” 2013. Passport GMID (ISIC: 651).

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Smith + Sauder = Success

I’ve been asked by many people as to why I’ve left the working world and gone ‘back to school’ to start the MBA program at Sauder? My employer didn’t understand it, neither did many of my colleagues and friends. For me it was all about a major re-organization of my priorities over the last year beginning in January, when I was fortunate enough to marry the love of my life Kelsea (see pictures). I held a partnership position with a great company over the past 6 years, The Donnelly Group (www.donnellygroup.com) and played a major role in their expansion throughout Vancouver. The company is in great shape and is poised for an aggressive expansion down south into the US – so why would I leave? An MBA has been a goal of mine since my undergraduate days for reasons beyond adding initials behind my name – I feel the experience will help shape me into who I want to be 5, 10, 15 years from now. Kelsea and I have plans for a large family, but we’re both focused on putting in the work now to move our careers forward (she’s working at VGH while concurrently completing her degree at SFU). I applied to several other B-schools, however none would enable me to stay in my beautiful hometown and study at a top-ranked MBA program.

So back to the re-org of my priorities – family is very important to me and unfortunately, my prior position wasn’t conducive to a healthy home/work balance. This is not to say I’m looking to start a new career working 35-40 hours/week in a cushy position, I just want to be in an industry where I can grow and develop my skill-set and use my Sauder experience to get me to where I want to be. The hospitality industry has done amazing things for me, however the expiration date on a career within it comes a lot sooner than in other sectors. The MBA program will help me transition back into a career in Finance and I’m excited for the coursework and hands-on approach to the curriculum. Further, having spent the last 2 weeks with my cohort, I’m looking forward to our team-based coursework and learning from my classmates, all of which are very talented individuals that share my vision and are looking to further their own careers.

I feel great about my decision and although the bank account will take a bit of a beating over the next 16 months I’m dedicated to staying the course. My family and amazing wife are very supportive and share my enthusiasm for the program. I’m pumped to get started!

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