Internship Spotlight: Kerry Crepeau ’20
Providence College has no shortage of exceptional students, which is why we established a platform where we could let their accomplishments shine. Our Internship Spotlight series provides the perfect place for them to recount some of the most memorable aspects of their impressive internship experiences. From companies like L’Oreal to RXR Realty, the students of the PCSB transition from classroom to real world by taking what they’ve learned and applying it to their delegated roles. This week we are excited to introduce sophomore Kerry Crepeau who interned for MEMIC.
- What is your major/minor?
I am a double major in finance and accountancy.
- Does the company you interned with have a social media presence, specifically on the channels below? If so, what are their usernames and/or link to their pages?
- When/how did you secure your internship?
I reached out to a family friend who is a senior accountant there. He forwarded my resume to their HR department. I interviewed over winter break and accepted the internship offer in late January.
- If you could choose your dream job, what would it be?
My dream job is to become a portfolio manager and own and operate my own hedge fund.
- What was your position at Maine Employers’ Mutual Insurance Company? Were there any projects or aspects of the job that you had a special interest in?
I was the finance intern at MEMIC and since it was more of a corporate finance role, many of my tasks were accounting based, such as performing journal entries and cash reconciliations. However, I was also tasked with reconstructing their budget package. I was able to make the process of budgeting expenses easier for each department, as well as create one output page that gave an overview for each department of what was to be expensed in that given year. I was also tasked with creating a better way to forecast the company’s investment income section of their 5-year business plan. They outsource their investments to insurance-specific asset managers in Connecticut, and the projections those asset managers were making did not closely resemble the projections that we were making. I was tasked with researching various historical yields for the assets that were contained in their investment portfolio. After finding these, we were able to match the percentage of the portfolio that was in bonds, equities, and cash with the yields that those assets historically return. Through this, we were able to have our investment income display a better representation of the investment portfolio, which, in result, gave a better description of the company’s profitability, especially after adding investment income.
- Did the internship prepare you (or make you excited) for a career in that field?
The internship opened my eyes to the many different aspects of finance and also gave me my first experience in corporate life. It was cool to tie things that I had learned in the classroom to real life, but it was especially interesting to learn new concepts that are not taught in the classroom. This internship showed me the many facets of finance and deepened my interest in the financial industry.
Read about more PCSB students and their Internship Spotlights here!