Nicole Fields
Finance Trainee
New York

Explain the function of accounting/finance at ICAP and how your role specifically fits into this. Describe your main responsibilities and a typical team Finance is the department at ICAP that deals with all the expenses, collections, and financial statements. Within the finance department we also do regulatory, determine profit and loss, as well as bonuses, and closing the books for month end and year end.

My main role within the finance department has been working with the Electronic Broking group (IEB)
Month end responsibilities:

• Journal entries for IEB as well as some for the tax department.
• Month end analysis of different accounts and look into any large variances from the previous month
• Wire forms for over collections
• Check bank accounts to make sure all journal entries have been done
• Holding company spreadsheets and month end journal entries.
• Headcount for IEB

Other projects/responsibilities I have taken part in

• Conversion of Brazil books from Dollars to Reals.
• Seasonlizing the budget numbers
• Inputting of budget numbers into Hyperion
• Worked on SRPs
• Decembers month end journal entries for Latin American companies
• Fails report
• Daily revenues

How much interaction do you get with the rest of the business and what impact does accounting/finance and your role have on the larger business at ICAP?Finance plays a big part at ICAP. We make sure all expenses are paid and accounted for; money is collected from customers which is essentially what keeps our business running. We do all the journal entries for expenses, assets, liabilities, income, capital for all existing and new product areas. We are the numbers behind everything that happens at ICAP.

How did you first hear about ICAP and the role? My college was not far from the Jersey City office and a few people from my home town work at ICAP. I learned about the Graduate Program during my internship and decided to apply.

What surprised you most about the company and your role? It surprised me how helpful everyone here is, everyone takes the time to teach and I never feel uncomfortable asking for help, or for something to be explained in more detail.

When I first started at ICAP one of the department heads told me never to feel uncomfortable about asking the questions. I think it is important to know the background of what you are doing, so you are not just going through the motions. So when I'm given a project, I always ask why it's being done and for the background on it. Everyone here is more then happy to answer.

Ever since my internship I've noticed that ICAP promotes thinking outside the box, and coming up with new better and more effective ways of doing things.

Why did you choose the interdealer broking industry, ICAP and an accounting/finance role? The interdealer broking industry interested me because it is a dynamic and ever changing. ICAP first caught my attention during my Finance classes at Seton Hall.

What skills do you think you need to be successful in finance at ICAP?

• You need to be willing to work with others
• Have patience when it comes to learning and when explaining things to others.
• Flexibility - You need to know that at certain times such as month end, year end, and during the audit the hours are longer than a normal work day but other times you will work normal hours.
• Understanding of deadlines - In this department most things we do have strict deadlines that cannot be missed
• Technical skills - Have basic technical skill and accounting knowledge
• People skills

Describe a time you were under pressure to complete a deadline at work. SRPs had to get done by a certain time and the lead sheets were produced later then we had expected so most of us stayed late that night to finish them.

Latin America's month end numbers came in later than we expected and the employee that is responsible for them was away on vacation. I was given the notes on how to do them. I was worried at first but once I started doing the work I was fine and able to complete it on time.

How do the current market conditions effect interdealer broking and accounting? The current market conditions have had an effect on the stream of business for some in broking roles. However, ICAP as a whole and the accounting department have been as busy as ever, looking at new sources of potential revenue for the firm.

What other things are you involved in outside of work, hobbies, interests etc..?

• I go to the gym after work and on the weekends.
• Pilates
• I like to go out in NYC with friends.