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A view of Station Place
As I explained in my previous post, I am working for the Office of the Secretary in the Securities and Exchange Commission this summer. The SEC “protects investors, promotes fairness in the securities markets, and shares information about companies and investment professionals to help investors make informed decisions and invest with confidence.” The Office of the Secretary is located in Washington, D.C., which I have loved thus far.
Currently, I am working in the Web Operations division of the Office of the Secretary, and I will move to the Legal and Operations Branch for the second half of the summer. In my first week, I have learned HTML and some CSS. I am helping archive web casts as well as updating due dates for SRO rulemaking comments.
My desk!
Another one of my daily responsibilities is to update the ticker database the WebOps group maintains. The ticker database links “CIK” numbers, which the SEC assigns to every registered company, and company tickers, which investors tend to be more familiar with. This way, investors using our EDGAR database can find companies more easily. To do this, I get to use a Bloomberg terminal daily, and I’ve learned how to use Microsoft Access, where the database is kept. I’m in the process of writing a procedure for this process to ensure that the database is kept accurate and consistent.
I also have access to a lot of different online trainings and learning opportunities through the SEC. My first week, I completed a four hour webinar on the Lifecycle of a Commodities trade, which was very interesting. I’ve also completed an introductory lesson on bonds. I plan to complete more training on fixed income securities and financial accounting to prepare for classes I am taking this upcoming semester.
I attended the Women’s Committee quarterly meeting. The meeting was inspiring because I learned about initiatives the SEC is working on in order to be more inclusive all across the country; liaisons from each regional office called in. It was very clear that the SEC is committed to helping women advance. For example, I learned about the San Francisco office’s initiative to educate teachers on investment opportunities available to them after retirement, as well as how to evaluate financial professionals with whom they may choose to work. The project was headed by the Women’s Committee because 73% of teachers in California are women! I thought it was a great example of how the SEC advocates for the common investor. Furthermore, I am interested in the ‘investment gap’ between women and men, so it was very interesting for me to hear firsthand about our government working to encourage women to invest.
I’ve also had the chance to attend a few commission meetings, so I’ve seen all five Commissioners speak in person. Two of the Commissioners are women. Both are impressive legal scholars and very well spoken. At the Open Meeting this past Tuesday, the Commissioners discussed proposed amendments to the Volcker Rule, which is a part of the Dodd-Frank act. The rule took effect in 2015. I thought Commissioner Stein’s dissent was particularly eloquent, and can be found (link) here, if you want to read it!
So far, my time here has been extremely educational. I learn something different every day, and all of my supervisors and coworkers are working hard to make sure this experience is as robust as possible. For example, my SEC mentor (with whom I connected via the Women’s Committee!) works in the Trading and Markets division. She invited me to come to their monthly meeting in July; I am excited to see how other divisions function more closely. Because one of my goals this summer is to learn more about finance, having a mentor in the Trading and Markets division works out perfectly.
I learned about this internship program through my Great Uncle, who is a corporate lawyer. Over Thanksgiving break last year, I asked if he had any advice on what I should do to get a more tangible legal experience, and he suggested I look to the government since law firms typically hire law students. Later that winter, he directed me towards this program because he started his career working for the SEC. Also, when I had an informational interview with a company I may apply to work for after I graduate, they also suggested working for the SEC this summer. When looking for an internship, I have found it helpful to ask family members or professionals in the field I am looking to enter what experience they think would be most helpful. The SEC’s internship program has already provided me with incredible learning opportunities, and I wouldn’t have thought to apply without asking experienced professionals where I should work this summer.
I expect to learn more about coding this summer, and I know I will leave with a much better understanding of how the SEC functions and its role in financial markets. Because I have access to so many learning opportunities and trainings, I will also leave with a much better understanding of finance in general!