The Finance Connection at UCSB
The Finance Connection at UCSB “Placing Gauchos on Wall Street”
Official Constitution (2009-2010) Created by: Ron Nussbaum (Class of 2010)
I) Name & Mission Statement a) Official Name: The Finance Connection at UC Santa Barbara b) Mission Statement: The Finance Connection aims to bridge the gap between Wall Street and UCSB by serving as the preeminent resource for students and alumni interested in the field of finance. The primary goals of our organization are to 1) increase the number of Gauchos working on Wall Street, 2) connect Gauchos working in finance with students and or fellow alumni and, 3) broaden the horizons of students at UCSB about the opportunities in financial services. Our organization, The Finance Connection, is built off the ideals of helping and serving one another, and strengthening the bonds of affiliation among Gauchos. Our main verticals of focus are: Investment banking, private equity, venture capital, hedge funds, corporate development, management consulting, and asset management. c) About the Founders: i) The Finance Connection was founded by Ron Nussbaum, Shawn Alt, and Stephen Tang during Spring 2009. ii) Ron Nussbaum served as President of the Finance Connection from its founding, through Winter 2010. Upon his graduation, in June 2010, Ron will begin his career as an Investment Banking Analyst at Bank of America Merrill Lynch. iii) Shawn Alt graduated from UCSB in 2009 with a B.A. summa cum laude in Business Economics with an emphasis in accounting. He began his career as an Investment Banking Analyst at Moelis & Company, an M&A and Restructuring investment banking firm. iv) Stephen Tang graduated from UCSB with a B.A. in Business Economics in 2009. After his graduation, he pursued a Master’s in Commerce, with a focus on financial services at the University of Virginia, McIntire School of Commerce. In July 2010, he will begin his career as an Investment Banking Analyst at J.P. Morgan.
II) Membership a) Requirements:
i) To be considered a “Member” one must meet all of the following requirements: (1) Pay quarterly membership fees of $10/quarter or $25/year (3 quarters) by the end of the 4th week of the quarter. (a) Checks paid after the 2nd week of the quarter are non-refundable. b) Rights: Members are eligible for the following: i) Resume Reviews & Mock Interviews for summer internships and full time positions by an experienced board member or advisor. ii) Application to our “Mentorship Program.” Refer to Section. VII for further information. iii) Application for a position on the board iv) Consideration for inclusion in our resume book. Refer to Section VIII for further information. v) Attendance at our networking events, unless event is specifically open to nonmembers as well.
III)
Weekly Meetings
a) Purpose: i) The Finance Connection Board of Directors, herein referred to as the Board, must coordinate quarterly events and maintain administrative responsibilities. The Board is responsible to ensure that the Mission Statement of the organization is being carried out efficiently and effectively b) Procedure: i) Each Board member, in the order of presentation mentioned below, discusses their individual responsibilities for the current week as well as what they completed during the prior week. Any issues relating to their position that came up should be addressed and resolved during the meeting. The President must circulate an agenda at least 24 hours prior to that weekly board
meeting, outlining the topics to be discussed. Following the meeting, the Membership Chair must submit minutes no later than 2 days from that meeting to the Board. ALL board members must be present and “on time” at ALL weekly meetings. c) Order of presentation: i) Faculty Advisor ii) President iii) Vice-President iv) Financial Officer v) Events Coordinator vi) Marketing Chair(s) vii) Membership Chair viii) Technology Officer d) Rules of Conduct: i) All Board members must conduct themselves professionally at ALL board meetings, and act with respect towards one another. ii) All Board Members must pay attention and listen attentively to other Board members. A Board member may NOT answer phone calls, send text messages, or pursue any other actions that would cause a distraction to themselves and/or other members of the Board. e) Performance of Duties: i) All Board members must come to weekly meetings prepared. Board members must be ready to discuss relevant topics, prepared to present on their respective positions and to perform all relevant duties for the following week(s). f) Attendance: i) Attendance shall be officially tracked by the Membership Chair, however, all Board members can enforce the attendance policy if deemed necessary.
ii) All Board members must be “present and on time” at all weekly board meetings. On time, as referred above and in the subsequent sections, is defined as within 5 minutes of the scheduled meeting time. iii) A Board member must inform the Board of his/her absence at least 3 days prior to that specific meeting iv) An absence without informing another Board member constitutes a vote for removal from the organization. This is considered an “Unexcused Absence.” v) An Unexcused absence is defined as not being present within 20 minutes of the scheduled meeting and without approval from the President or VicePresident (1) A Board member is not allowed more than 1 absence per quarter and will be terminated immediately if he/she exceeds that limit (2) 3 “Lates” per quarter (Not On Time) constitutes 1 absence
IV)
Elections:
a) Minimum requirements to apply for a Board position: i) GPA of at least 3.40 ii) Must have been a member of the Finance Connection for at least one quarter prior to applying iii) Must have at least sophomore standing iv) The President, Vice-President, and Financial Officer must have intention to pursue a career in one of the finance verticals, which should be apparent in the officer application and from his/her conversations with other board members. v) Must be able to dedicate a minimum of 5 hours per week, and have the capacity to contribute additional hours if deemed necessary. b) Term of office:
i) The term of office for a Board member commences the first day of the 10th week (dead week) of Winter Quarter and concludes on the last day of the 9th week of Winter Quarter the following year. ii) An Outgoing Board member must remain an Advisor to the new Incoming Board member through the first day of the second week of Spring Quarter. (1) An Advisor must attend the weekly meeting(s) and provide guidance to the new Board member of his/her former position. c) Nomination of Board Members: i) Nominations begin the First Day of Winter Quarter and conclude during week 5, at the end of the Board’s weekly meeting. ii) Internal Candidates: (1) Current Board members must make it apparent to the Board by the 5th week of their weekly Board meetings that they would like to run for reelection or be considered for another position. (2) Internal Candidates can be nominated by other another Board member or by themselves. iii) External Candidates: (1) Must submit an application and resume to be considered for nomination. (2) The Board will review the full application of the external candidate and if the candidate receives a minimum 2/3 vote in favor of an interview, an interview will be extended to that person. (a) An internal candidate may NOT participate in any aspect of the election process involving his/her desired position. d) Election of Board Members: i) External Candidates: (1) First Round Interviews for “External Candidates” commence the first day of the 6th week of Winter Quarter and conclude the last day of the 7th week of Winter Quarter
(a) The President & Vice-President are responsible for conducting the first round interviews (2) Second Round Interviews take place during the Board’s weekly meeting on the 8th week of Winter Quarter (a) The entire Board shall be responsible for interviewing the External Candidate ii) Internal Candidates: (1) On the 8th week of the weekly meting of Winter Quarter, following External Candidate interviews, the Board member running for election must interview with all the current Board members in an open forum discussion setting iii) On the 8th week of Winter Quarter the new Board is elected iv) The “Board Member Elect” is required to attend the Board’s weekly meeting on the 9th week of Winter Quarter
e) Vacancies: i) If a Board member can no longer commit to the organization or is removed from his/her position, the remaining Board must recruit an External Candidate to fill this position or appoint someone internally. ii) Internal Appointment: (1) To be appointed internally, a Board member must receive at least 2/3 vote in favor his/her appointment (2) Board members can run against other Board members, but must receive at least 2/3 vote in favor of their appointment (3) If the Board member is appointed to a new position, he/she must assume responsibility of both their new and current position until the vacancy is filled iii) External Appointment:
(1) Within 1 week following the announced vacancy, the President, VicePresident, and Membership Chair must begin to recruit a Board member to fill the vacancy (2) If no Board member wishes to be appointed, the President and Vice President must assume the vacant position until it is filled (3) The new appointee shall only complete the term of office, regardless of when his/her term began (a) The new appointee must run for re-election, via the process mentioned above as an internal candidate if he/she desires to be reelected.
V) Board Positions & Code of Ethics a) Code of Ethics:
i) All Board members must act with respect towards one another and display
the utmost integrity when working with each other and representing the organization. All Board members must be free of conflicts of interest with other organizations and may not be affiliated with any competing clubs. Board members affiliated with other organizations may not share or discuss ideas or events of the Finance Connection before they are made public. Board members may not bring the organization’s ideas to their affiliated organizations. If the Board member fails to comply with the rules listed above, he/she will be immediately subject to removal per the procedures in the “Officer Removal” clause.
b) Board Positions: i) President: (1) The President shall be in charge of delegating responsibilities to other Board members and ensuring cohesiveness amongst all Board members. The President must have work experience in one of the finance verticals and must have a solid understanding of the finance industry. The president’s responsibilities include but are not limited to: (a) Bringing speakers to present at quarterly events. (b) Conducting interviews for potential Board members and “Mentorship Program” candidates.
(c) Preparing presentations for events and quarterly newsletter. Responsibilities for these assignments should be delegated by the President to other board members as well. (d) Circulating an agenda prior to weekly board meetings as well as leading weekly Board meetings and presenting new ideas for events and other activities that help carry out the mission of the Finance Connection. (e) Continuously building and maintaining relationships with the faculty advisors, other “relevant” student organizations, and UCSB alumni in the finance industry. (f) Guiding incoming Board members regarding their responsibilities. (g) Reviewing and approving all work by other board members (h) Maintaining current relationships with Resume Book participants as well increasing the number of firms included in book (i) Performing resume reviews and mock interviews as requested by “members.”
ii) Vice-President: (1) The Vice-President shall assist the President in performing his/her duties. His/her additional responsibilities include but are not limited to: (a) Working with the President to continuously build and maintain relationships with the faculty advisors, other “relevant” student organizations, and UCSB alumni who work in the finance industry (b) Working with the President to delegate tasks to other Board Members (c) Running and overseeing all aspects of the “Mentorship Program,” including: (i) Coordinating the recruiting process along with the Membership Chair, interviewing candidates along with the President, preparing guidelines for the mentees and mentors, and coordinating with the President on bringing in additional mentors for the program.
(d) Performing resume reviews and mock interviews as requested by “members.” (e) Conducting 1st round interviews along with the President for officer elections Winter quarter. (f) Discussing with other Board members potential website improvements and reporting desired changes to the Technology Officer
iii) Financial Officer: (1) The Financial Officer is responsible for managing the finances of the organization, ensuring sufficient funding for all events through thorough financial planning and budgeting. The Financial Officer’s responsibilities include but are not limited to: (a) Creating a quarterly budget that projects all revenues and expenses for the next quarter (b) Communicating with the appropriate Board members regarding all projected and actual expenses (c) Documenting all cash inflows, including: membership fees, cash from fundraisings, funding from OSL & additional sources, and funding from Sponsors. All expenses must be documented in an Excel spreadsheet and copies of receipts must be kept on file. (d) Updating all Board members intermittently regarding the financial situation of the organization and presenting any financing issues or fundraising opportunities to them. (e) Pricing and collecting membership fees and depositing all funds in the OSL account.
iv) Marketing Chair: (1) The Marketing Chair leads marketing efforts for all events and activities, ensuring that the organization’s intended audience is targeted. Marketing efforts should be coordinated with all board members, however, primarily
with the Financial Officer and Events Coordinator. The Marketing Chair’s responsibilities include but are not limited to: (a) Creating detailed and effective marketing plans, which must be presented at the Board’s weekly meeting at least 2 weeks prior to each event. (b) Tabling outside the Arbor and UCEN during the first 2 weeks of each quarter to promote the organization. He/she should delegate responsibilities to all Board members to assist in marketing efforts, as well as e-mail and "Facebook" all group members and ListServ members regarding pertinent events. (c) Continuously promoting the organization to potential corporate sponsors as well as to the campus (d) Being present and “on time” at all meetings and events
v) Events Coordinator: (1) The Events Coordinator’s responsibilities include but are not limited to: (a) Creating a quarterly events schedule at least 2 weeks prior to the conclusion of the quarter and reserving a room for weekly events for the following quarter. (b) Requesting media equipment from the Office of Student Life (OSL) at least 5 days prior to an event. (c) Purchasing food and drinks and other items for major events and reporting these expenses to the Financial Officer immediately. The Events Coordinator must receive approval from the Financial Officer prior to making these purchases. (d) Coordinating with other organizations to ensure events/meetings do not overlap, delegating marketing responsibilities for all events to the Marketing Chair, and presenting new ideas for events during weekly meetings. (e) Updating the website to include information about upcoming events and creating an E-calendar to include all weekly board meetings and events.
(f) Distributing a text message or e-mail to ALL board members reminding them of the upcoming weekly board meetings and events. vi) Technology Officer: (1) The Technology Officer’s responsibilities include but are not limited to: (a) Making updates to the website as requested by the Vice-President. (b) Renewing membership for the website and ensuring that it operates effectively. (c) Occasionally recommending website improvements to the board
vii)Membership Chair: (1) The primary responsibility of the Membership Chair is to recruit Finance Connection members and raise awareness about the organization along with the Marketing Chair. The Membership Chair’s responsibilities include but are not limited to: (a) Responding in a timely manner to e-mail and Facebook inquiries as well as compiling those inquiries that should be addressed at weekly meetings or quarterly events. (b) Addressing to the Board during weekly meetings any membership issues that arise. (c) Keeping track of membership and event attendance so that marketing chair can improve the organization’s marketing efforts. (d) Creating/updating applications for the “Mentorship Program,” officer elections, and anything else determined by the Board. (e) Recording minutes during weekly board meetings and submitting them to ALL board members. viii)
Advisors:
(1) Faculty Advisors:
(a) The Faculty Advisors serve as the pillar of the Finance Connection by ensuring the continuity, success, and publicity of the organization. Although the Faculty Advisors do not have to be present at all meetings, it is highly recommended they attend as many meetings as possible to help guide the Board with their insight and expertise. Faculty Advisors are entitled to the same voting rights as Board members. The Faculty Advisors’ responsibilities include but are not limited to: (i) Helping market events through e-mails and announcements to students as requested by the Marketing Chair. (ii) Assisting in recruiting potential Board members and mentee candidates as requested by the Membership Chair, President, and Vice-President. (iii) Helping ensure that all Board members are performing their responsibilities, acting with integrity, and in a professional manner. (2) Student Advisor(s): (a) A student advisor is a former Board member and graduating senior, who wishes to remain actively involved in the organization during their final quarter(s) at UCSB but can no longer hold an officer position due to their upcoming graduation. Student Advisors are entitled to the same voting rights as Board members. (b) Advisors are not held to any responsibilities, however, they are encouraged to attend all weekly board meetings and perform the tasks delegated to them by other Board members. (c) Advisors should guide Board members with their expertise and recommend to them any organizational improvements as deemed necessary.
VI)
Officer Removal & Termination
a) Termination:
i) A Board member is not required to remain on the Board if he/she so desires, however, he/she must inform the Board of his/her resignation no less than 2 weeks prior to departure b) Officer Removal: i) A Board member will be considered for removal if: (1) He/she has more than 1 absence or more than 3 “Lates” at meetings and Quarterly events (2) He/she has failed to assume their duty as a Board member, leaving other Board members with additional work (3) He/she does not adhere to the “Rules of Conduct” or “Code of Ethics” as outlined in sections III. a) and V. a) respectively.
ii) To be officially removed: (1) The Board must schedule an “Emergency Meeting” prior to their weekly Board meeting to vote on the officer’s removal. ALL Board members, except for the “to be removed” Board member must be in attendance. (2) There must be a minimum of 2/3 vote in favor of the officer removal. (3) The Board member must be notified of his/her removal immediately following the vote.
iii) Additional Procedures: (1) The President and Vice President must change passwords for all e-mail and website accounts promptly and report these changes to All Board members (2) The President and Vice President must request from the removed officer that all documents, if necessary, be handed over immediately (3) Refer to section IV. e) for instructions on filling vacancies.
VII) Mentorship Program
a) Purpose: i) To connect select members of the organization with UCSB alumni who work in one of the verticals of finance. As many alumni faced difficulty breaking into finance their insight can greatly help current students ultimately land positions in the industry. b) Requirements: i) Must have membership fees paid through 3 quarters ii) All potential mentees must submit their most recent resume and the mentee application by the end of the 2nd week of the quarter for which they are applying iii) Applicants must have a minimum GPA of 3.3 to be considered for an interview c) Interviews: i) Interviews consist of an on-campus or phone interview in a 2 on 1 format by the President, Vice President, or Financial Officer. (1) Interviews should be conducted on a rolling basis and last no longer than the end of the 3rd week of the quarter. ii) To be selected for an interview, a candidate must receive a 2/3 vote in favor of an interview d) Admittance: i) Candidates must receive a unanimous vote in favor of their approval by the 2 interviewers
VIII) Resume Book a) Purpose: i) To enhance career opportunities for Finance Connection members by distributing a book of qualified members to various firms in the finance
industry. The book is usually submitted to close contacts at these firms, where our members’ resumes can receive more consideration. b) Requirements for Consideration: i) Must be a paid member for at least 2 quarters. ii) Must submit a properly formatted resume by the assigned deadline, set by the Board. c) Requirements for Acceptance: i) Must have a minimum GPA of 3.4 (1) This may be bypassed if the candidate has relevant work experience in one of the finance verticals. ii) Must show intention of pursuing career in finance with finance related activities or work experience noted on resume iii) Must receive unanimous approval by the President, Vice President, and Financial Officer IX) Resume Reviews & Mock Interviews a) Purpose: i) To assist members in writing finance-tailored resumes as well as to prepare students for potential interviews for a finance job. b) Procedure: i) Any board member with experience in writing a finance resume and with interview experience in the industry may assist a member. ii) A Board Member must perform these services to any paid member in a timely manner per their request. c) Requirements: i) Must have paid membership fees for at least 1 quarter.
X) Financial Management a) Procedure: i) To ensure proper internal controls regarding the handling of membership fees, the duties of fee collection and collection of membership applications must be divided amongst the Financial Officer and Membership Chair. Additionally, members may only pay with check or money order. These are non-refundable after the end of the 2nd week of the quarter. ii) The Membership Chair must collect only membership applications, and the Financial Officer must collect only membership fees. iii) The Membership Chair must keep track of the fees to be collected and report this amount to the Board at their following weekly meeting. iv) The Financial Officer must record the actual fees collected and deposit this amount into the OSL account. (1) At the following weekly board meeting, the Financial Officer must provide the board with an official copy of the transaction. (a) There should be NO discrepancies between the amount reported by the Membership Chair and the amount deposited into the OSL account by the Financial Officer. (b) Any discrepancies must be immediately addressed by the Membership Chair and the Financial Officer to the entire Board and properly reconciled if necessary. (i) Irreconcilable discrepancies must be notified to the Faculty Advisors by the President and Vice President immediately following the Board meeting. XI) Constitutional Amendments a) Requirements: i) Minimum 2/3 vote in favor of the amendment. ii) All board members must be present
iii) The amendment must be an improvement to the current constitution and should contribute to the overall success of the organization, directly or indirectly b) Procedure: i) All amendments must be submitted to the Office of Student Life (OSL) by the Membership Chair within 1 week of adoption.
XII)
The Board & Advisors
a) Faculty Advisor: Peter Rupert ([email protected]) Economics Department b) Faculty Advisor: Jean-Pierre Fouque ([email protected]) Department of Statistics & Applied Probability c) Student Advisor: Ron Nussbaum ([email protected]) d) Student Advisor: Tai Toribio ([email protected]) e) President: Brandon Pinn ([email protected]) f) Vice President: Jordan Wolfe ([email protected]) g) Financial Officer: Jacob Goena ([email protected]) h) Marketing Chair (1): Kristina Graf ([email protected]) i) Marketing Chair (2): Colin Goltra ([email protected]) j) Events Coordinator: Susan Duong ([email protected]) k) Membership Chair: David Campos ([email protected]) l) Technology Officer:
Official Constitution (2009-2010) Created by: Ron Nussbaum (Class of 2010)
I) Name & Mission Statement a) Official Name: The Finance Connection at UC Santa Barbara b) Mission Statement: The Finance Connection aims to bridge the gap between Wall Street and UCSB by serving as the preeminent resource for students and alumni interested in the field of finance. The primary goals of our organization are to 1) increase the number of Gauchos working on Wall Street, 2) connect Gauchos working in finance with students and or fellow alumni and, 3) broaden the horizons of students at UCSB about the opportunities in financial services. Our organization, The Finance Connection, is built off the ideals of helping and serving one another, and strengthening the bonds of affiliation among Gauchos. Our main verticals of focus are: Investment banking, private equity, venture capital, hedge funds, corporate development, management consulting, and asset management. c) About the Founders: i) The Finance Connection was founded by Ron Nussbaum, Shawn Alt, and Stephen Tang during Spring 2009. ii) Ron Nussbaum served as President of the Finance Connection from its founding, through Winter 2010. Upon his graduation, in June 2010, Ron will begin his career as an Investment Banking Analyst at Bank of America Merrill Lynch. iii) Shawn Alt graduated from UCSB in 2009 with a B.A. summa cum laude in Business Economics with an emphasis in accounting. He began his career as an Investment Banking Analyst at Moelis & Company, an M&A and Restructuring investment banking firm. iv) Stephen Tang graduated from UCSB with a B.A. in Business Economics in 2009. After his graduation, he pursued a Master’s in Commerce, with a focus on financial services at the University of Virginia, McIntire School of Commerce. In July 2010, he will begin his career as an Investment Banking Analyst at J.P. Morgan.
II) Membership a) Requirements:
i) To be considered a “Member” one must meet all of the following requirements: (1) Pay quarterly membership fees of $10/quarter or $25/year (3 quarters) by the end of the 4th week of the quarter. (a) Checks paid after the 2nd week of the quarter are non-refundable. b) Rights: Members are eligible for the following: i) Resume Reviews & Mock Interviews for summer internships and full time positions by an experienced board member or advisor. ii) Application to our “Mentorship Program.” Refer to Section. VII for further information. iii) Application for a position on the board iv) Consideration for inclusion in our resume book. Refer to Section VIII for further information. v) Attendance at our networking events, unless event is specifically open to nonmembers as well.
III)
Weekly Meetings
a) Purpose: i) The Finance Connection Board of Directors, herein referred to as the Board, must coordinate quarterly events and maintain administrative responsibilities. The Board is responsible to ensure that the Mission Statement of the organization is being carried out efficiently and effectively b) Procedure: i) Each Board member, in the order of presentation mentioned below, discusses their individual responsibilities for the current week as well as what they completed during the prior week. Any issues relating to their position that came up should be addressed and resolved during the meeting. The President must circulate an agenda at least 24 hours prior to that weekly board
meeting, outlining the topics to be discussed. Following the meeting, the Membership Chair must submit minutes no later than 2 days from that meeting to the Board. ALL board members must be present and “on time” at ALL weekly meetings. c) Order of presentation: i) Faculty Advisor ii) President iii) Vice-President iv) Financial Officer v) Events Coordinator vi) Marketing Chair(s) vii) Membership Chair viii) Technology Officer d) Rules of Conduct: i) All Board members must conduct themselves professionally at ALL board meetings, and act with respect towards one another. ii) All Board Members must pay attention and listen attentively to other Board members. A Board member may NOT answer phone calls, send text messages, or pursue any other actions that would cause a distraction to themselves and/or other members of the Board. e) Performance of Duties: i) All Board members must come to weekly meetings prepared. Board members must be ready to discuss relevant topics, prepared to present on their respective positions and to perform all relevant duties for the following week(s). f) Attendance: i) Attendance shall be officially tracked by the Membership Chair, however, all Board members can enforce the attendance policy if deemed necessary.
ii) All Board members must be “present and on time” at all weekly board meetings. On time, as referred above and in the subsequent sections, is defined as within 5 minutes of the scheduled meeting time. iii) A Board member must inform the Board of his/her absence at least 3 days prior to that specific meeting iv) An absence without informing another Board member constitutes a vote for removal from the organization. This is considered an “Unexcused Absence.” v) An Unexcused absence is defined as not being present within 20 minutes of the scheduled meeting and without approval from the President or VicePresident (1) A Board member is not allowed more than 1 absence per quarter and will be terminated immediately if he/she exceeds that limit (2) 3 “Lates” per quarter (Not On Time) constitutes 1 absence
IV)
Elections:
a) Minimum requirements to apply for a Board position: i) GPA of at least 3.40 ii) Must have been a member of the Finance Connection for at least one quarter prior to applying iii) Must have at least sophomore standing iv) The President, Vice-President, and Financial Officer must have intention to pursue a career in one of the finance verticals, which should be apparent in the officer application and from his/her conversations with other board members. v) Must be able to dedicate a minimum of 5 hours per week, and have the capacity to contribute additional hours if deemed necessary. b) Term of office:
i) The term of office for a Board member commences the first day of the 10th week (dead week) of Winter Quarter and concludes on the last day of the 9th week of Winter Quarter the following year. ii) An Outgoing Board member must remain an Advisor to the new Incoming Board member through the first day of the second week of Spring Quarter. (1) An Advisor must attend the weekly meeting(s) and provide guidance to the new Board member of his/her former position. c) Nomination of Board Members: i) Nominations begin the First Day of Winter Quarter and conclude during week 5, at the end of the Board’s weekly meeting. ii) Internal Candidates: (1) Current Board members must make it apparent to the Board by the 5th week of their weekly Board meetings that they would like to run for reelection or be considered for another position. (2) Internal Candidates can be nominated by other another Board member or by themselves. iii) External Candidates: (1) Must submit an application and resume to be considered for nomination. (2) The Board will review the full application of the external candidate and if the candidate receives a minimum 2/3 vote in favor of an interview, an interview will be extended to that person. (a) An internal candidate may NOT participate in any aspect of the election process involving his/her desired position. d) Election of Board Members: i) External Candidates: (1) First Round Interviews for “External Candidates” commence the first day of the 6th week of Winter Quarter and conclude the last day of the 7th week of Winter Quarter
(a) The President & Vice-President are responsible for conducting the first round interviews (2) Second Round Interviews take place during the Board’s weekly meeting on the 8th week of Winter Quarter (a) The entire Board shall be responsible for interviewing the External Candidate ii) Internal Candidates: (1) On the 8th week of the weekly meting of Winter Quarter, following External Candidate interviews, the Board member running for election must interview with all the current Board members in an open forum discussion setting iii) On the 8th week of Winter Quarter the new Board is elected iv) The “Board Member Elect” is required to attend the Board’s weekly meeting on the 9th week of Winter Quarter
e) Vacancies: i) If a Board member can no longer commit to the organization or is removed from his/her position, the remaining Board must recruit an External Candidate to fill this position or appoint someone internally. ii) Internal Appointment: (1) To be appointed internally, a Board member must receive at least 2/3 vote in favor his/her appointment (2) Board members can run against other Board members, but must receive at least 2/3 vote in favor of their appointment (3) If the Board member is appointed to a new position, he/she must assume responsibility of both their new and current position until the vacancy is filled iii) External Appointment:
(1) Within 1 week following the announced vacancy, the President, VicePresident, and Membership Chair must begin to recruit a Board member to fill the vacancy (2) If no Board member wishes to be appointed, the President and Vice President must assume the vacant position until it is filled (3) The new appointee shall only complete the term of office, regardless of when his/her term began (a) The new appointee must run for re-election, via the process mentioned above as an internal candidate if he/she desires to be reelected.
V) Board Positions & Code of Ethics a) Code of Ethics:
i) All Board members must act with respect towards one another and display
the utmost integrity when working with each other and representing the organization. All Board members must be free of conflicts of interest with other organizations and may not be affiliated with any competing clubs. Board members affiliated with other organizations may not share or discuss ideas or events of the Finance Connection before they are made public. Board members may not bring the organization’s ideas to their affiliated organizations. If the Board member fails to comply with the rules listed above, he/she will be immediately subject to removal per the procedures in the “Officer Removal” clause.
b) Board Positions: i) President: (1) The President shall be in charge of delegating responsibilities to other Board members and ensuring cohesiveness amongst all Board members. The President must have work experience in one of the finance verticals and must have a solid understanding of the finance industry. The president’s responsibilities include but are not limited to: (a) Bringing speakers to present at quarterly events. (b) Conducting interviews for potential Board members and “Mentorship Program” candidates.
(c) Preparing presentations for events and quarterly newsletter. Responsibilities for these assignments should be delegated by the President to other board members as well. (d) Circulating an agenda prior to weekly board meetings as well as leading weekly Board meetings and presenting new ideas for events and other activities that help carry out the mission of the Finance Connection. (e) Continuously building and maintaining relationships with the faculty advisors, other “relevant” student organizations, and UCSB alumni in the finance industry. (f) Guiding incoming Board members regarding their responsibilities. (g) Reviewing and approving all work by other board members (h) Maintaining current relationships with Resume Book participants as well increasing the number of firms included in book (i) Performing resume reviews and mock interviews as requested by “members.”
ii) Vice-President: (1) The Vice-President shall assist the President in performing his/her duties. His/her additional responsibilities include but are not limited to: (a) Working with the President to continuously build and maintain relationships with the faculty advisors, other “relevant” student organizations, and UCSB alumni who work in the finance industry (b) Working with the President to delegate tasks to other Board Members (c) Running and overseeing all aspects of the “Mentorship Program,” including: (i) Coordinating the recruiting process along with the Membership Chair, interviewing candidates along with the President, preparing guidelines for the mentees and mentors, and coordinating with the President on bringing in additional mentors for the program.
(d) Performing resume reviews and mock interviews as requested by “members.” (e) Conducting 1st round interviews along with the President for officer elections Winter quarter. (f) Discussing with other Board members potential website improvements and reporting desired changes to the Technology Officer
iii) Financial Officer: (1) The Financial Officer is responsible for managing the finances of the organization, ensuring sufficient funding for all events through thorough financial planning and budgeting. The Financial Officer’s responsibilities include but are not limited to: (a) Creating a quarterly budget that projects all revenues and expenses for the next quarter (b) Communicating with the appropriate Board members regarding all projected and actual expenses (c) Documenting all cash inflows, including: membership fees, cash from fundraisings, funding from OSL & additional sources, and funding from Sponsors. All expenses must be documented in an Excel spreadsheet and copies of receipts must be kept on file. (d) Updating all Board members intermittently regarding the financial situation of the organization and presenting any financing issues or fundraising opportunities to them. (e) Pricing and collecting membership fees and depositing all funds in the OSL account.
iv) Marketing Chair: (1) The Marketing Chair leads marketing efforts for all events and activities, ensuring that the organization’s intended audience is targeted. Marketing efforts should be coordinated with all board members, however, primarily
with the Financial Officer and Events Coordinator. The Marketing Chair’s responsibilities include but are not limited to: (a) Creating detailed and effective marketing plans, which must be presented at the Board’s weekly meeting at least 2 weeks prior to each event. (b) Tabling outside the Arbor and UCEN during the first 2 weeks of each quarter to promote the organization. He/she should delegate responsibilities to all Board members to assist in marketing efforts, as well as e-mail and "Facebook" all group members and ListServ members regarding pertinent events. (c) Continuously promoting the organization to potential corporate sponsors as well as to the campus (d) Being present and “on time” at all meetings and events
v) Events Coordinator: (1) The Events Coordinator’s responsibilities include but are not limited to: (a) Creating a quarterly events schedule at least 2 weeks prior to the conclusion of the quarter and reserving a room for weekly events for the following quarter. (b) Requesting media equipment from the Office of Student Life (OSL) at least 5 days prior to an event. (c) Purchasing food and drinks and other items for major events and reporting these expenses to the Financial Officer immediately. The Events Coordinator must receive approval from the Financial Officer prior to making these purchases. (d) Coordinating with other organizations to ensure events/meetings do not overlap, delegating marketing responsibilities for all events to the Marketing Chair, and presenting new ideas for events during weekly meetings. (e) Updating the website to include information about upcoming events and creating an E-calendar to include all weekly board meetings and events.
(f) Distributing a text message or e-mail to ALL board members reminding them of the upcoming weekly board meetings and events. vi) Technology Officer: (1) The Technology Officer’s responsibilities include but are not limited to: (a) Making updates to the website as requested by the Vice-President. (b) Renewing membership for the website and ensuring that it operates effectively. (c) Occasionally recommending website improvements to the board
vii)Membership Chair: (1) The primary responsibility of the Membership Chair is to recruit Finance Connection members and raise awareness about the organization along with the Marketing Chair. The Membership Chair’s responsibilities include but are not limited to: (a) Responding in a timely manner to e-mail and Facebook inquiries as well as compiling those inquiries that should be addressed at weekly meetings or quarterly events. (b) Addressing to the Board during weekly meetings any membership issues that arise. (c) Keeping track of membership and event attendance so that marketing chair can improve the organization’s marketing efforts. (d) Creating/updating applications for the “Mentorship Program,” officer elections, and anything else determined by the Board. (e) Recording minutes during weekly board meetings and submitting them to ALL board members. viii)
Advisors:
(1) Faculty Advisors:
(a) The Faculty Advisors serve as the pillar of the Finance Connection by ensuring the continuity, success, and publicity of the organization. Although the Faculty Advisors do not have to be present at all meetings, it is highly recommended they attend as many meetings as possible to help guide the Board with their insight and expertise. Faculty Advisors are entitled to the same voting rights as Board members. The Faculty Advisors’ responsibilities include but are not limited to: (i) Helping market events through e-mails and announcements to students as requested by the Marketing Chair. (ii) Assisting in recruiting potential Board members and mentee candidates as requested by the Membership Chair, President, and Vice-President. (iii) Helping ensure that all Board members are performing their responsibilities, acting with integrity, and in a professional manner. (2) Student Advisor(s): (a) A student advisor is a former Board member and graduating senior, who wishes to remain actively involved in the organization during their final quarter(s) at UCSB but can no longer hold an officer position due to their upcoming graduation. Student Advisors are entitled to the same voting rights as Board members. (b) Advisors are not held to any responsibilities, however, they are encouraged to attend all weekly board meetings and perform the tasks delegated to them by other Board members. (c) Advisors should guide Board members with their expertise and recommend to them any organizational improvements as deemed necessary.
VI)
Officer Removal & Termination
a) Termination:
i) A Board member is not required to remain on the Board if he/she so desires, however, he/she must inform the Board of his/her resignation no less than 2 weeks prior to departure b) Officer Removal: i) A Board member will be considered for removal if: (1) He/she has more than 1 absence or more than 3 “Lates” at meetings and Quarterly events (2) He/she has failed to assume their duty as a Board member, leaving other Board members with additional work (3) He/she does not adhere to the “Rules of Conduct” or “Code of Ethics” as outlined in sections III. a) and V. a) respectively.
ii) To be officially removed: (1) The Board must schedule an “Emergency Meeting” prior to their weekly Board meeting to vote on the officer’s removal. ALL Board members, except for the “to be removed” Board member must be in attendance. (2) There must be a minimum of 2/3 vote in favor of the officer removal. (3) The Board member must be notified of his/her removal immediately following the vote.
iii) Additional Procedures: (1) The President and Vice President must change passwords for all e-mail and website accounts promptly and report these changes to All Board members (2) The President and Vice President must request from the removed officer that all documents, if necessary, be handed over immediately (3) Refer to section IV. e) for instructions on filling vacancies.
VII) Mentorship Program
a) Purpose: i) To connect select members of the organization with UCSB alumni who work in one of the verticals of finance. As many alumni faced difficulty breaking into finance their insight can greatly help current students ultimately land positions in the industry. b) Requirements: i) Must have membership fees paid through 3 quarters ii) All potential mentees must submit their most recent resume and the mentee application by the end of the 2nd week of the quarter for which they are applying iii) Applicants must have a minimum GPA of 3.3 to be considered for an interview c) Interviews: i) Interviews consist of an on-campus or phone interview in a 2 on 1 format by the President, Vice President, or Financial Officer. (1) Interviews should be conducted on a rolling basis and last no longer than the end of the 3rd week of the quarter. ii) To be selected for an interview, a candidate must receive a 2/3 vote in favor of an interview d) Admittance: i) Candidates must receive a unanimous vote in favor of their approval by the 2 interviewers
VIII) Resume Book a) Purpose: i) To enhance career opportunities for Finance Connection members by distributing a book of qualified members to various firms in the finance
industry. The book is usually submitted to close contacts at these firms, where our members’ resumes can receive more consideration. b) Requirements for Consideration: i) Must be a paid member for at least 2 quarters. ii) Must submit a properly formatted resume by the assigned deadline, set by the Board. c) Requirements for Acceptance: i) Must have a minimum GPA of 3.4 (1) This may be bypassed if the candidate has relevant work experience in one of the finance verticals. ii) Must show intention of pursuing career in finance with finance related activities or work experience noted on resume iii) Must receive unanimous approval by the President, Vice President, and Financial Officer IX) Resume Reviews & Mock Interviews a) Purpose: i) To assist members in writing finance-tailored resumes as well as to prepare students for potential interviews for a finance job. b) Procedure: i) Any board member with experience in writing a finance resume and with interview experience in the industry may assist a member. ii) A Board Member must perform these services to any paid member in a timely manner per their request. c) Requirements: i) Must have paid membership fees for at least 1 quarter.
X) Financial Management a) Procedure: i) To ensure proper internal controls regarding the handling of membership fees, the duties of fee collection and collection of membership applications must be divided amongst the Financial Officer and Membership Chair. Additionally, members may only pay with check or money order. These are non-refundable after the end of the 2nd week of the quarter. ii) The Membership Chair must collect only membership applications, and the Financial Officer must collect only membership fees. iii) The Membership Chair must keep track of the fees to be collected and report this amount to the Board at their following weekly meeting. iv) The Financial Officer must record the actual fees collected and deposit this amount into the OSL account. (1) At the following weekly board meeting, the Financial Officer must provide the board with an official copy of the transaction. (a) There should be NO discrepancies between the amount reported by the Membership Chair and the amount deposited into the OSL account by the Financial Officer. (b) Any discrepancies must be immediately addressed by the Membership Chair and the Financial Officer to the entire Board and properly reconciled if necessary. (i) Irreconcilable discrepancies must be notified to the Faculty Advisors by the President and Vice President immediately following the Board meeting. XI) Constitutional Amendments a) Requirements: i) Minimum 2/3 vote in favor of the amendment. ii) All board members must be present
iii) The amendment must be an improvement to the current constitution and should contribute to the overall success of the organization, directly or indirectly b) Procedure: i) All amendments must be submitted to the Office of Student Life (OSL) by the Membership Chair within 1 week of adoption.
XII)
The Board & Advisors
a) Faculty Advisor: Peter Rupert ([email protected]) Economics Department b) Faculty Advisor: Jean-Pierre Fouque ([email protected]) Department of Statistics & Applied Probability c) Student Advisor: Ron Nussbaum ([email protected]) d) Student Advisor: Tai Toribio ([email protected]) e) President: Brandon Pinn ([email protected]) f) Vice President: Jordan Wolfe ([email protected]) g) Financial Officer: Jacob Goena ([email protected]) h) Marketing Chair (1): Kristina Graf ([email protected]) i) Marketing Chair (2): Colin Goltra ([email protected]) j) Events Coordinator: Susan Duong ([email protected]) k) Membership Chair: David Campos ([email protected]) l) Technology Officer:
