Olivia Kinnane is an Accounting major set to graduate in December 2020. This summer she interned for MUFG Union Bank, N.A. as a Global Financial Crimes and Compliance Summer Analyst in Brea, California.
How did you get this internship?
I initially discovered this internship opportunity on LinkedIn. What I appreciated the most about the interview process was that MUFG places interns with a particular Internal Audit team based upon your interests and career goals. I mentioned throughout my interviews that I’m interested in Forensic Accounting/Financial Crime, so I was given the opportunity to work with the Global Financial Crimes & Compliance Internal Audit team. The interview process consisted of five interviews in total with Human Resources, Internship Coordinators, and my potential future managers.
What was a typical day like?
My typical day as an MUFG intern was attending meetings with internal audit team members and producing documents that contribute to the Program Governance Audit. Many of these meetings were with business management in which I asked questions relating to an operation’s business continuity plan. I frequently referenced the Bank’s policies and procedures to ensure that Bank employees are in compliance with federal and Bank regulations. However, the majority of my time at MUFG was spent producing the Process Overview, Test of Design and Test of Effectiveness documents to evaluate if specific risks posed to the Bank are being mitigated.
What was your favorite part of the experience?
I appreciate that my work as an MUFG intern made a valuable contribution to the team’s audit. I never felt that I was asked to do busy work. Every day throughout the internship I felt that I was producing meaningful work to contribute to the team’s goals. This gave me an accurate vision of what internal auditors are responsible for on a day-to-day basis.
If you worked on a big project, please describe it below:
I contributed to MUFG’s Program Governance Audit with the Global Financial Crimes & Compliance Internal Audit team. I was responsible for attending process walkthroughs with business management and producing the subsequent Process Overview Document. Following the process walkthrough, I was responsible for conducting a Test of Design and Test of Effectiveness for AML (Anti-Money Laundering) Operations and the CMIR (International Transportation of Currency or Monetary Instruments) Process. The Process Overview, Test of Design and Test of Effectiveness inform the Internal Audit team if the Bank’s current controls in place are effective in mitigating financial crime-related risks.
Anything else you would like to share about your internship experience?
I would highly recommend this internship experience with MUFG to my Eller peers. My managers ensured that I participated in projects that suited my interests and career goals. I happened to be the only intern within Global Financial Crimes and Compliance and at my particular office location. However, all MUFG employees were extremely welcoming and willing to assist me in completing my assigned tasks.