by jlansber | Oct 2, 2014 | Professional Development
Instructor Philip Gisi teaches a course on Six Sigma.
Owning a home and investing in stocks and bonds are common strategies people use to boost their financial security, but some overlook what could be the working adult’s most valuable asset: their income earning potential.
An investment in one’s career could easily generate more than an investment in the stock market, and it is one over which employees have much more control.
Professionals pursue continuing education to advance their careers, change industries or stay ahead of rapidly evolving technology. Social media, for example, has transformed many professions and requires an entirely new set of skills than those taught just five years ago.
Steve Kelly, director of the Kellstadt Marketing Center (KMC) in DePaul’s Driehaus College of Business, has seen this revolution firsthand. “Social media, digital display advertising, search engine marketing and competing on analytics were not in the vocabulary for most of our students when they received their undergraduate degrees,” he says. “Today’s marketing is being driven by predictive and web analytics, social media listening and marketing, customer relationship management, database development, individual targeting and return on investment accountability. Only experts who are practicing this today can keep up with the changing marketing landscape.”
Tim Weaver (LAS ’97), account manager at ESPN Local in Chicago, returned to DePaul in 2013 to pursue the KMC Integrated Marketing Communications Certificate. “I needed something to prove that I had a knowledge base for internal and external career opportunities,” he explains. “I didn’t have the time to do a full-blown MBA program, but did want it to be at an accredited university. I found the IMC program was the perfect balance of all the elements I was looking for.”
Kelly notes that the advantages of pursuing professional development over a full degree program include students’ ability to target specific skills and just-in-time learning in the format that best suits them. KMC courses range from a single class on one day to a course spread over 10 evening sessions to a multiple-course certificate program. To accommodate professional travel schedules, an increasing number of these courses are available online.
Weaver’s strategy worked.
“My clients and co-workers look at me in a different light, as a real expert in the digital marketing field who they can come to for help,” he says. “My managers come to me to discuss best practices when developing new sponsorship and program elements.”
A study DePaul commissioned in 2009 estimated more than 1.4 million people in northern Illinois, northwestern Indiana and southeastern Wisconsin pursued career-related, noncredit professional education. In a typical year, upward of 3,000 students enroll in programs at KMC and DePaul’s Continuing and Professional Education (CPE).
Harry Bryant, CPE director, says those who pass through his doors are mostly people in midcareer or middle-management jobs. A third to a half have taken classes or earned a degree from DePaul. Alumni receive a 15 percent discount on all KMC programs and some CPE courses.
“The demographics are shifting toward professional education,” Bryant notes. The number of high school graduates in America peaked between 2007 and 2011. These students have already completed or soon will complete college. “What are they going to need to take the next step forward in their careers?” he asks. “They will seek specific skills to advance, differentiate themselves or break into a new industry.”
CPE students take a range of programs that span from three-hour seminars to 180-hour certificate programs addressing the latest trends and techniques in financial planning, human resources and management, among other topics. Because Chicago has become an operational and logistical hub, Bryant says certifications in supply chain management, project management and Six Sigma process improvement are very popular.
As Weaver’s experience illustrates, professionals who take ownership of their careers by updating their skills can become management’s go-to staff members, a role that can enhance future earnings.
Visit the Kellstadt Marketing Center for more information on professional development opportunities. For details on Continuing and Professional Education visit learning.depaul.edu.
by jlansber | Jun 29, 2014 | Alumni Profiles
Global Risk Management Director Savors Role at Diageo
Name: LaToya M. Lacey, CPA, CFE (BUS ’01)
Residence: Stamford, Conn.
Occupation: Director of Global Audit & Risk at Diageo, a premium drinks business with brands that span spirits, beer and wine. In this role, I am responsible for conducting and leading advisory reviews and internal audits, including assessment of overall risk management activities. I also lead the anti-fraud agenda within the Global Audit & Risk group at Diageo.
Education: A family friend suggested I consider a degree in accounting since math was my favorite subject. I took an accounting course during my senior year at Morgan Park High School and enjoyed it. I decided to pursue my degree at DePaul because of its excellent accounting program and because I was really impressed with the school after attending the open house.
Vital stats: During my time at DePaul, I worked in the law school’s admissions office and held two internships at Arthur Andersen and one at Abbott Laboratories. After graduation, I accepted a position at Abbott in their Financial Professional Development Program and subsequently worked in their U.S. Customs Compliance group. I left Abbott to join the Internal Audit department at Altria and went to Kraft Foods as a result of the spinoff. At Kraft, I worked in internal audit, finance training and special investigations. I have an 18-year-old son who plans to obtain a pharmaceutical sciences degree at the University of Illinois at Chicago.
What I like best about my job: Over the past two years, no two assignments have been the same. I really enjoy the constant changes and challenges, and the opportunities I have to change the way we work. I also enjoy traveling all over the world and working with people with diverse backgrounds and perspectives.
My DePaul experience: I was a full-time student, a student officer and mentor in STARS (Students Together Are Reaching Success, a DePaul support program for first-year students). I also worked part time while being a single mom, and I graduated with honors. My experience at DePaul taught me the importance of time management and that with determination and hard work, I can overcome any obstacle. That has helped me tremendously with various challenges
I have experienced both personally and professionally.
Lacey’s Advice for New Alumni
“Embrace and overcome challenges, rather than run from them, and learn from mistakes. These experiences will prepare you for a bright future.”
“Find what truly motivates you and pursue that in your career. This will allow you to have the energy to always give your best and drive for more.”
“Expand your horizons as much as possible. When you have the opportunity to work in another part of the world, learn about the economy, culture and history.”
“Balance is important, so don’t forget to have fun and enjoy time with those closest to you.”
A Double Demon Recognized For His Leadership in Accountancy
Name: Joe Adams (BUS ’77, MBA ’79)
Residence: Carol Stream, Ill.
Occupation: Managing partner and CEO of McGladrey LLP, the fifth largest assurance, tax and consulting firm in the United States and the largest focused on middle market businesses and the entrepreneurs who run them. Accounting Today recognized Adams as one of its “Top 100 Most Influential People in Accounting” in 2013.
Education: Adams attended St. Joseph’s High School in Westchester, Ill., before becoming a DePaul Double Demon. “My brother attended DePaul, and he was the primary influence on my choice to attend DePaul and to pursue an undergraduate degree in accounting. I also wanted to stay close to home to be able to work and earn the money to pay for my education.”
Vital stats: “I am fortunate to have spent my entire career at McGladrey, beginning as an entry-level auditor and advancing to partner in 1987. Since then, I have held a variety of leadership roles at McGladrey that have led to my current position.” Adams and Cheryl, his wife of 36 years, have five grown children and five grandchildren.
What I like best about my job: “I like the short- and long-term challenges that consume my day. Overseeing a complex business provides me with an opportunity to be involved in a variety of areas, from strategy and vision to financial and operational results. I also enjoy working closely with the outstanding people who work for McGladrey or are clients and friends of our great firm.”
The biggest challenge I face in my job: “Working to stay ahead of our competition and positioning our firm as uniquely better and the first-choice advisor to middle market leaders. This means constantly working to attract and develop diverse talent and providing them with a working environment that is second to none so they will, in turn, provide our clients with an experience that is second to none.”
My DePaul experience: “DePaul gave me a solid educational foundation not only in accounting and business, but also in nontechnical skills that have served me well throughout my career. The relationships I built at DePaul have aided me in my business and personal goals, and I am especially grateful to the DePaul career placement office for helping me get my job at McGladrey in the first place.”
Adams’s Advice For Young Alumni
“Don’t be afraid to get out of your comfort zone or make a mistake; just be sure to learn from it.”
“Stay relevant. Learn something new every day, and impart your knowledge to and coach others.”
“Listen respectfully and challenge others about what can be better; then do your part to make it better.”
“Change is constant and accelerating—accept it and use it to your advantage.”
“The relationships you build at DePaul and the ones you build after you graduate can make all the difference. I had no idea where my career would take me, but with the help of some extraordinary mentors, I have been involved in some amazing things.”
Investing in Financial Literacy
As a child growing up on the South Side of Chicago in the 1970s, Richard Smith (BUS ’77, MBA ’83) knew he wanted to be a “business man.” Yet, Smith struggled with variables and formulas, as well as with the stigma others placed upon him as the poor son of a cafeteria worker. He felt like he didn’t belong in the finance world.
Smith’s DePaul education helped him enter this world, and after 20 years of building his own investment firm, Smith created The Wall Street Program to help others follow in his footsteps. The free finance and investment education program teaches Chicago-area middle schoolers the ins and outs of finance and investing through virtual investment accounts set up on Yahoo! Finance.
Nearly 1,000 students have gone through the program. “I’m the type of person that if I learn something, I want to teach others,” says Smith. “I want the kids to know that despite having little knowledge of the finance world now, you can learn and make a good living in this area. I truly found that investing is a great way of building wealth and I want them to learn as much as possible.”
Forging Career Connections
Rob Pasquesi (MBA ’10) began brainstorming a better way to foster professional relationships while he was studying entrepreneurship at DePaul. Now his idea of taking one’s online network offline has grown into NextIntro.com, a free website that helps young professionals form connections online and suggests ways for them to meet face to face.
The site allows members to create a personal page based on their LinkedIn profiles or from scratch. Members get emails suggesting other professionals they might want to meet, and the site even recommends nearby restaurants or coffee shops that could serve as meeting places. The site, which launched in 2013, now has nearly 10,000 members in Chicago, Boston, Denver and Austin, Texas.
Pasquesi, who works as an audit senior manager at a top-six international accounting and tax firm, credits DePaul’s business professors with helping him refine the website concept and putting him in touch with students.
“When I started talking to college students and young professionals, they mentioned a need for receiving mentorships and understanding more about certain professions,” Pasquesi says. “A lot of current members saw the same problems when they were students four or five years ago and now want to offer their suggestions and help.”
To read more DePaul alumni news and submit class notes, visit alumni.depaul.edu.
by jlansber | Jun 28, 2014 | Giving Back
Joe Silich (BUS ’92) is one of the preeminent wealth advisors in the nation. But he has never forgotten his working-class roots on the southwest side of Chicago or his first-generation college experience at DePaul.
“DePaul allowed me to identify that gift inside of me—in my case, a gift for numbers,” he says. “My teachers helped me find it, nurture it, and build my knowledge. In the process, they helped me build confidence. That foundational education is a kind of ‘muscle memory’ that has served me well in my career and in life.”
As executive director at Morgan Stanley, he leads the Silich Group of wealth advisors for the firm. He has garnered numerous accolades throughout his career. He was named one of Barron’s magazine’s top financial advisors nationwide in 2009, 2010, 2011, 2012 and 2013. He makes frequent appearances on MSNBC, CNBC, Bloomberg and other media outlets. Throughout his career, he has been careful along the way to share his gifts and his success with the community.
At DePaul, Silich serves on the DePaul University Finance Advisory Board and the Driehaus College Campaign Committee. He works with the college to develop intern-ship opportunities for students, and personally coaches and mentors DePaul students and young alumni. His community commitments are numerous and wide-ranging. To name a few, he serves on the Chicago-based board of UNICEF, the Midwest Board of the USO, and the advisory board of Operation Homefront, which provides support for families of service members and wounded warriors across the country.
In 2010, as part of the Many Dreams, One Mission campaign, Silich established the Silich Family Endowed Scholarship for talented DePaul students in finance who, like him, grew up in Chicago and attended city public or parochial schools.
More than one-third of DePaul students are the first generation in their families to attend college. “I worked throughout school, as most DePaul students still do,” Silich says. “But I never lost sleep over midterms or finals or papers. What I did worry about was paying the semester tuition bill. I know what my education has meant to me. If I can ease that financial anxiety for talented students, help them focus more effectively on their studies, help them gain practical experience and develop their gifts, help them succeed and take their education out into the world to benefit their families and communities—that is how I measure true success.”
By Chris Anderson
by jlansber | Jun 28, 2014 | Faculty Focus
I’m so lucky,” says Bin Jiang, talking about his appointment as the business school’s first Driehaus Fellow this academic year. Certainly that luck runs both ways, as Jiang has contributed excellent research and teaching as a management professor at DePaul since 2004. The five-year fellowship, funded by a portion of Richard H. Driehaus’ $30 million donation to the business school, supports the hiring and retention of extraordinary faculty.
“I was drawn to DePaul by the opportunity to work with our department chair, Scott Young, and other faculty on the business challenges that intrigue me, especially the complexities, both practical and ethical, in managing global supply chains,” Jiang says. “At DePaul, I’m part of a bigger ‘management’ discipline, and that keeps me open to ideas from other areas and colleagues. In many schools, the subsets of management are kept separate, but here we’re an intellectually collaborative group and I really like that.”
In the past 10 years, Jiang has won recognition for his scholarship, including prestigious best-paper awards from the Journal of Operations Management and the Academy of Management. But Jiang’s first love is teaching. “I agree wholeheartedly with DePaul’s philosophy,” he says. “Students are my number one priority.”
In the classroom, Jiang brings a real-world perspective based on 16 years of business experience working in China before coming to the United States. “In operations management, we use a lot of formulas, but a student can’t know what they really mean unless they’re applied practically. I illustrate the principles of supply chain management with case studies based on my own experiences and those of my business friends in China. Because I’m confident in the content, my students connect to the material better.
“Case writing is very time consuming,” Jiang says, “and many schools don’t count it as research. So, teachers are hard-pressed to use cases as a teaching tool. But in law school and medical school, students learn by cases. If I couldn’t provide good cases to my students, I would not be adequately preparing my students for their careers.”
Jiang focuses his work on the role of outsourcing because of the discipline’s central role in modern commerce, he says. “Today’s competition isn’t between companies, but between supply chains. As a result, there’s a lot of risk in these relationships.
“For example, when a company outsources part of its production, is the other company a working horse or a Trojan horse? Will the supplier steal the other’s intellectual property or even its business? This has happened plenty of times,” Jiang cautions. “Given that possibility, management has to ask, Does outsourcing really increase our company’s value? Or is it just a short-term advantage with long-term liabilities? On top of those considerations are ethical ones: Are the working conditions in the foreign company fair and safe?”
Jiang considers the Driehaus Fellowship an affirmation of his work so far and a critical enabler of his work to come. “I plan to use the award to explore an important, but underdeveloped, area—that of post-outsourcing management. I think—I plan—that this research will contribute to the reputation and prestige of the Driehaus College of Business.”
By Margaret Hoag
