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Internship at Institute of International Finance

Oct 31, 2022Item:www;xidian.com

Name: Wang Jierui

Major: Finance, School of Economics and Management

Internship Program: Institute of International(IIF), Asia Pacific - Beijing

 

Internship Content

I. Editing the 2022 New Year’s letter for IIF's Chinese association members

The New Year’s letter is the IIF president’s summary and outlook for the cooperative members in 2022. In order to make the communication better for the members in China, I was responsible for translating the original English manuscript into Chinese and editing the letter for each of the cooperative Chinese members separately.

This was the first task during the internship. Before carrying out this task, I did some research through each member’s official website, recorded the relevant detailed information, and sorted out the important information on an EXCEL sheet to keep the work more organized and efficient.

 

 

II. Completing the work summary of 2021

At the beginning of 2022, I tried to summarize all the work done in 2021. I sorted and summarized various resources on the website by category, covering topics such as macroeconomic research, capital liability tracking, major economic events around the world and some relevant proposals.

 

 

III. Creating and updating 2022 calendar

Based on the data from the IIF website and the information provided by my instructors, I compiled the important events in 2022, following the relevant information and keeping it up-to-date in the follow-up work. By the end of the internship, it was updated to May.

 

IV. Translating, distributing and collecting questionnaires

In the modern era of rapid development of Internet and big data technology, in order to better understand the situation of machine learning within the association, the headquarter designed questionnaires about machine learning. During my internship, I was in charge of translating the questionnaires in order to facilitate the understanding of members in China.

 

Subsequently, I contacted the association members by email to follow up the questionnaire survey in time. Though limited by a number of factors, I still received a large proportion of the feedback, and gained support from some member organizations.

 

V. Writing Weekly Update

Every week, we kept a close watch on gathered the important events in China, gathered the corresponding news stories, and write them into the Weekly Update, which was finally shared by all members of the association through Outlook, opening a window for members to learn about China’s state affairs.

 

 

VI. Collecting and collating information

1. Collating the information about the IIF meetings attended by Chinese institutions throughout the year of 2021. In 2021, a total of 20 Chinese institutions and important leaders participated in IIF meetings, including Mr. Yi Gang, the governor of China’s central bank.

2. Organizing the information of the risk management directors/CROs of our members, and creating the corresponding directory to facilitate the follow-up work.

3.Tracking the news reports and relevant analysis about the war between Russia and Ukraine, and making a summary.

4. Collecting the statistical information of branches/subsidiaries of our members in UAE and Africa, and presenting the result in the form of tables.

5. Collecting the statistical information of all member institutions of IIF, specifically from North America, South America, Europe, Middle East and North Africa, and Asia Pacific, and creating the corresponding directory.

 

VII. Updating the IIF Association related lists and creating a bilingual version for future reference

1. IIF Board of Directors List

2. IIF Emerging Markets Advisory Committee List

The contents of these two lists was kept up to date according to the latest internal email information as well as the information on the official website, and a bilingual version was provided for easy access by domestic member institutions.

 

VIII. Translating the materials of Emerging Markets Advisory Committee and providing invitation letters for domestic institutions

Bilingual versions of Emerging Markets Advisory Committee's 2022 calendar and invitation letters were provided for domestic institutions.

The Emerging Markets Advisory Committee, focusing on emerging markets, is directly sponsored by the IIF Board of Directors. As some of our member institutions are playing an increasingly important role in emerging markets, these translated materials will help our member institutions understand the organization better.

 

IX. Translating congratulatory letters for the newly appointed chairmen of member institutions

During the internship period, when the new chairmen were appointed for our member institutions Bank of Beijing and China Life Insurance respectively, I translated the congratulatory letters for the new chairmen of the two institutions.

 

X. Attending lectures and conferences: "Cyber Security" and the 2nd Sustainable Finance Summit

On March 10th, we watched the live broadcast of the 2nd Sustainable Finance Summit of IIF online, in which the Chairman of Agricultural Bank of China, Mr. Gu Shu, gave a speech and was interviewed by the President of IIF. Mr. Gu Shu introduced the green finance concept based on the approach of Agricultural Bank of China.

 

 

 

XI. Attending weekly team meeting

 

 

During my four-month internship, I was responsible for sorting out and summarizing the Weekly Update, which mainly covers important economic and financial news, meetings and speeches related to China during the week. This weekly update was shared by all members of the association via Outlook every Monday. At the beginning, I felt at a loss due to lack of experience. Thanks to my instructors’ advice, I focused on the difference between the first and final drafts. Then I was able to discover the right news and gradually expanded my sources of information. At the same time, every Monday, the staff meeting summarized the important events of the previous week and made arrangements for the current week, and my participation in the staff meeting promoted my sense of participation and made me feel connected to the international community.

By summarizing the record of 2021 and updating the one of 2022, I also got a glimpse of the changes in the international market in the past, which strongly expanded my knowledge and also improved my English reading skills. Besides, I had the privilege of translating the New Year’s letter and the questionnaire on machine learning. I gathered a lot of professional information in the process of translation, which also gave me a better understanding of the application of machine learning in the financial field.

Through writing different types of letters, such as congratulatory letters, invitation letters and follow-up emails, I learned the secret of different types of correspondence, and was able to distinguish between different salutations and usages under the guidance of my instructors, which greatly improved my writing and commmunication skills.

During the internship, I attended a lecture on cyber security, in which I learned that many of the methods for IIF internal could also be applied for our daily life. I was also privileged to participate in the 2nd Sustainable Finance Summit and listened to Chairman Gu Shu's speech, which was so impressive that it aroused my intense interest in the financial industry.

 

Internship experience

It was a great honor to participate in this internship at the International Finance Association. During this internship, I had the opportunity to read the research reports on the economic and financial situations issued by the financial industry researchers, which provided me with a real insight into the financial industry and enriched my knowledge. By following the economic and financial news every day and sorting them into categories, my sensitivity to financial news and market changes was greatly improved. In the process of sending invitations and following up the questionnaires for various institutions, I could get in touch with the elites in the industry and work with these great people, which made me quite excited and serves as an incentive to better myself.

Although I did not have the opportunity to meet the instructors face to face during the internship, I could still feel their patience, rigor and kindness in my daily work. Their valuable suggestions were very useful to me.

In my future work and study, I will cherish and maintain this attentiveness and enthusiasm, keep working hard, and strive for greater progress!

 

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