Marty wanted to buy the family-owned trucking business. All he needed was a plan to finance the $6 million purchase.
Enter: Brandon Nelson ’16, Jordan Bancroft ’16, Benny Haug ’16, Landon Poss ’16 and Isaac Nepstad ’17. They found a way to do it.
The team participated in a competition hosted by the North Central Chapter of the Risk Management Association. Students received the credit case study about Marty and, just as they would in the workplace, they presented a solution to a panel of judges who served as a credit committee.
Students were evaluated on their presentations and their understanding of risk principles in the financial services industry. The Concordia team analyzed credit risk, market risk and operational risk, among other things.
Pat Lorenson ’91, president of Ramsey National Bank in Fargo, mentored the Cobber team. He spent two hours a week guiding the students and sharing his expertise from more than 20 years in the banking industry. He also introduced students to his colleagues, an extra bonus for young professionals seeking networking opportunities.
“There was good dialogue throughout,” Lorenson says. “It was an opportunity to share some life lessons, in addition to some career advice.”
The students appreciated the connections made with a Cobber alumnus.
“Having a mentor like Pat was amazing,” says Nelson, who studies business finance. “We learned a lot of real-life applications.”
There is deep value when students can apply what they learn in class to a real-life situation, says Dr. Scot Stradley, professor of finance.
And those experiences can pay off quickly. Bancroft recently interviewed for a job as a bank examiner. During the interview, he was able to share the experience he gained from working on the credit case study.
“It was very applicable,” Bancroft says. “I think it makes you more hirable.”