Written by: Mengjia Li
I’m back to blog. I’ve been in Dublin, Ireland for two weeks already. Because of the design of the EUSA academic internship program, our first week is basically to have a brief interview with my supervisor and get familiar with the city of Dublin and its transportation system. I also did some sightseeing, which I will mention in a future blog. Always leave the fun at the end!lol. In this blog, I would like to share what I do in Intertrust Group the first week as an intern, which is the second week of the EUSA program.
Like I mentioned in my introduction blog, Intertrust Group is a multinational company, which has different local offices and specializes in different corporate service and private wealth service areas. The Dublin office is particularly good at the administrative part of corporate services. Every year, we provide directors for different clients and charge charge them a salary fee. We also will help them do some company secretarial kinds of work, for example assist in organizing the annual shareholders meeting. At the same time, for different kinds of services, each employee might spend different amounts of time to deal with the task and then each employee in Intertrust Group will record how much time they spend and charge it as WIP (a.k.a. work in process), then allocate it to their clients later. I have to admit I didn’t fully understand what this local office is all about until I did my first assignment.
The first day I entered the office, I thought she might assign me some basic accounting stuff like accounts receivable, but it turns out my supervisor assigned me to help one of our relationship managers summarize a report their fees charged to each of the company’s clients in the past three years, which made my first two days of internship pretty “miserable”. At the beginning, I literally had no clue what was going on. In the email she sent to me, there were all kinds of excel attachment files and they had totally different set ups. I had to open each of them and spend half an hour to fully understand each of those. You guys might also experience the situation where you feel you understand it, but just cannot combine all the information together and summarize all together. Basically, I only seperate each client from a big chunk of excel sheet and put in 40 or 50ish different excel sheets for the first day. When I walked out the building, to be honest, a little bit frustrated with my tiny contribution.
But everything got better the second day and it turned out it was not so hard as I thought. What I did was finish calculating the WIP fee, figure out the fixed fee, timing fee(or WIP, aka work in process charge) and salary for each client. Then I summarized the fees for each client in different excel sheets and at the end put all the client charge information in a new excel sheet to assist the relationship maanger in finishing the perpetual client information report. At the end of the second day, I gave it to my supervisor. I didn’t feel very happy though, since some parts of the report didn’t balance. But when I entered the office and opened the email the next day, I was surprised to see they already finished revising the report and submitted it. The whole morning, my coworkers thanked me for the report I did for them. To be honest, I didn’t think I was really helpful because I felt I had not completed it as quickly as I thought I should have.
What I’ve learned from my first two days I really want to share: Don’t pressure yourself too much on your first day of work! It can only give you a negative effect. You will be appreciated by any contribution in the company evenif you don’t feel you’ve done enough.
Later the weekend, I also helped my supervisor simplify the balance sheet, which made it easier for her further analysis. I also assisted in billing to clients and allocating communication fees to each client.