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2015-06jun-08-0695-project-staff 595

Apply to become a part of Canada’s first student-run banking organization and earn valuable experience helping fellow students. Join the Waterloo Banking Project staff for the Spring or Fall 2016 terms as we continue to build and begin the launch of student-focused financial services.

Our social enterprise startup requires a broad range of talents and perspectives. We are seeking applicants who are enthusiastic, diligent, resourceful, and good communicators. Working as staff on the project offers experience relevant to startups, social enterprise, and other business settings in addition to banking and financial services. We encourage students from all faculties at both Waterloo and Laurier to apply.

Staff will be expected to commit a minimum of six hours per week, deal with unique challenges, and work effectively on individual and group projects. We will consider candidates who are on school term at Laurier, and Waterloo in all areas of study.

All new staff will begin serving in the Customer contact department for a minimum of two terms before progressing into any of the other departments.However, new staff will have the opportunity to work on projects in their prospective department.

The organization works on a not-for-profit basis and no positions in the project are paid. We do focus on offering our staff professional training as well as valuable and rewarding experience.

About Each Department

Customer Contact:

Mission: Ensuring positive customer experiences

Typical responsibilities:

  • Interacting positively with current and prospective customers

  • Promoting the project and its mission

  • Providing support at marketing and education events

New staff must serve in the Customer contact department for a minimum of two school terms before progressing into any of the other departments.

Education and Financial Planning:

Mission: Educating students in personal finance to help them build a foundation for success

Typical responsibilities:

  • Financial education programs

  • Speaker and discussion events

  • Online database of financial resources

Web development and Information Services:

Web development Mission: Devising effective systems for learning, communication, and personal financial management

Typical Web development responsibilities:

  • Developing online personal finance tools

  • Creating customer and audience interfaces

  • Designing websites

Information services Mission: Ensuring proper and reliable functioning of computer and information services

Typical Information services responsibilities:

  • Managing websites and content management systems

  • Implementing online surveys

Public relations & Marketing:

Mission: To increase awareness, understanding, and affinity for our project and its purpose.

Typical responsibilities:

  • Media channel management (social media and blog)

  • In-person promotion

  • Content creation

  • Market research and analysis

  • Media relations

Human Resources:

Mission: To recruit, train, and maintain an effective student staff.

Typical responsibilities:

  • Staff orientation and training

  • Hiring and staff planning

  • Staff professional development

  • Internal staff social events

Development & Fundraising:

Mission: To assemble funds and resources via funding proposals and presentations to potential investors.

Typical responsibilities:

  • Corporate sponsorships

  • Donor prospecting & Relationship management

  • Competitions and grant applications

  • Proposal development and presentations

  • Generation of fundraising strategies

  • Networking event attendance

Finance

Mission: Planning and managing our resources to create a sustainable social enterprise

Typical responsibilities:

  • Budget tracking and analysis

  • Financial statement preparation

  • Employee expenses and internal controls

The deadline for applications is at 11:59 p.m. on Friday, March 18, 2016.

To apply:

  1. Spring and Fall 2016 Waterloo Banking staff application form

  2. Send your resume with a filename that includes your name to apply@waterloobanking.com with the subject line “[Your Full Name] | Waterloo Banking staff application”

  3. Please share our hiring announcement on Facebook and retweet our tweet about hiring so your friends and fellow students will also have an opportunity to apply.

Visit our About Page, like us on Facebook and follow us on Twitter @WaterlooBanking to learn more about Waterloo Banking Project.

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Panel Member #3: Sabariesan Pavananthan

IMG_3497

My name is Sabariesan Pavananthan; I’m a 3B Mathematical Economics specializing in Finance with minors in CS and Management here at the University of Waterloo. I plan on going into foreign exchange and global markets sector of investment banking when I do finish my degree.

 

 

 

 

 

 

 

Highlights in his career. 

  • First place in Waterloo’s Stock Simulation Contest
  • Bloomberg’s Algorithmic Trading Competition
  • Waterloo’s Stock Pitch Competition

Hobbies 

  • Basketball
  • Baseball
  • Global Financial Markets and Politics
  • Reading Dan Brown books

Why it is important to educate students on personal finance.

As a student myself, I learned throughout my first couple of terms here that I sucked at keeping track of my own expenses, especially when I became of age and started spending a lot of my time experiencing the nightlife of being a young student. Through a systematic approach to budgeting, I realized how much money I really had access to and began to save money towards more meaningful expenditures rather than short-term frivolities.

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Panel Member #2: Maureen Jones

Maureen Jones is currently the Director of the Student Awards and Financial Aid Office.  She has worked on campus in various roles since 1981. She is a graduate of the University of Waterloo.

Why it is important to educate students on personal finance

Understanding personal finances and budgeting is an important skill that all students should possess.

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Panel Member #1: Thomas Wnuk

Thomas Wnuk - Headshot

Thomas works full time for IBV Capital, a small hedge fund in Toronto, where    he performs investment research as well as supports the portfolio management process. Thomas graduated from Wilfrid Laurier University in 2014 with a Bachelor of Business Administration and a major in Finance. He is the former Senior Director of Waterloo Banking Project and actively participates in personal finance and investment communities in Toronto.

 

 

 

Highlights in his career  

  • Featured in Business Elite Canada magazine
  • Level III Chartered Financial Analyst Candidate

Hobbies 

  • Snowboarding
  • Wakeboarding
  • Cooking
  • Hiking

Why it is important to educate students on personal finance

Personal financial education is something that is not taught throughout a student’s life in school and quite frankly ignored by majority of adults. Unfortunately, personal finance is extremely important in everyone’s life and I believe everyone should have the basic knowledge required to make sound financial decisions throughout their lives.

 

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Winter 2016 “Build your Financial Future” Panel event

Date & Time: January 13th @ 6pm

Location: QNC 2502

Waterloo Banking Project will be holding its second “Build your financial future” panel event. The event will consist of a formal question and answer period. It will focus on answering questions pertaining to the complications of personal finance. With a focus on topics such as OSAP, student loans, saving, investments, as well as finances after graduation. The panel members will also briefly discuss their own personal finance experiences.

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2015-08aug-25-0134-cbc-kw-ryan-waterloobanking

Craig Norris from CBC K-W’s The Morning Edition interviewed founder, Ryan Chen-Wing on August 25. In their discussion, Ryan explained the benefits of creating a budget and also shared tips on how students can stick to their budgets for their upcoming school year. He also discussed why it is crucial to plan budgets ahead of time and to be honest about spending habits. The transcript of the interview can be viewed below.



Screen Shot 2015-09-15 at 5.20.34 PM

Read the full article on the CBC K-W website.


Transcript of CBC K-W Interview:

Craig Norris: A new poll released yesterday by CIBC found that over half of university and college students will run out of money before their school year ends. That means many students are going to be looking for part-time jobs or coming to the bank of “mom and dad” for loans, but the school year doesn’t have to end with students in the red. Ryan Chen-Wing is the founder of the Waterloo Banking Project – a financial start-up run by students for students at the University of Waterloo and the Wilfrid Laurier University. He says, starting the school year with a good budget is all that it takes to stay in the black. To tell us more, he joins me in the studio this morning. Good morning, Ryan.

Ryan Chen-Wing: Good morning, Craig.

Craig: Very easily said, “Oh, I gotta make a budget.” Is it that simple to just make a budget?

Ryan: It’s simple, but it may be difficult right? I think people feel some reluctance to face up to their finances, but it doesn’t have to be that way and we try to get students talking and thinking about it. It really doesn’t have to be a taboo subject and it’s very important. A little work you put in before the school year starts can really pay off in terms of less stress, and being able to focus on your studies for the rest of the year.

Craig: When we run a household, you often do it on a budget, but what are the unique budgeting challenges that students face?

Ryan: One big difference between the situations students face and what a normal household might face, is that they don’t necessarily have a regular full-time income to cover their expenses. So they’re not just looking at the pay-period for two weeks, or a month, but they have to look at the whole year. Another important thing they have to keep an eye on their budget and how much debt they can take on over their whole degree, and that makes it more important to plan ahead even though students don’t have that much experience.

Craig: So why do you think then that so many students find themselves short on cash when spring exams roll around?

Ryan: Well, it’s just that because their budget period is so long and often its’ hard to plan so far ahead. That’s part of what we try to do to help students, but if parents are concerned, or students are concerned about their peers, it’s important to start a conversation about it and that’s what we want to be a part of with Waterloo Banking Project.

Craig: When you say concerned, do you mean mental health issues and things like that? You’re worried that people are becoming too stressed?

Ryan: Not just that, but just concerned that they may be take on too much debt or not make financial decisions that match their values.

Craig: What kind of tips then do you give students when they come seeking budget advice?

Ryan: The very first thing is to face up to it, right? It’s better in the long run to take a look at your finances and add things up. Because if in September, I know I don’t have enough money to finish the term, then I can find a part-time job. If I don’t discover that on my own until November, then a lot of options are closed to me because that time has passed.

Craig: Where are students wasting the most money?

Ryan: It varies. A big part where students’ behavior ends up incurring more expenses is just in the discretionary spending. That’s not necessarily the biggest part of a students’ budget, but it’s the one where you can make the most difference with your behavior. Certainly there’s variation in the amount of rent you might pay. Once you’ve chosen your university and your program, you can’t change that much even though that’s a big part of your expenses. However, I think that when students’ look at their discretionary spending, whether they make their own dinner with food from the grocery store, compared to going out. There’s a big difference that can add up over time. A piece of advice I can give on that is having a separate food budget that’s grocery food, and not to take from that to go to the restaurant.

Craig: I am not steoreotyping students by any stretch of the imagination and you already know what I’m going to say, I can tell by the look on your face. And that is, what about entertainment budget? Vis-à-vis maybe going to bars and things like that.

Ryan: Well, certainly I think that that sort of things are important. IT’s important for students to socialize and fully take part in student life. And I’m not going to say to any student or any person that they can or can’t spend something. They have to make that decision and go ahead and do it if you enjoy it and if you can afford it. And you only know if you can afford it if you plan ahead, have a budget and track that expense. I myself have a so-called entertainment budget, I don’t call it that, I call it unrestricted. That can mean going to the restaurant, going to the movies, it can mean buying candy if I want, or even buying a beer. And that’s all in the same budget, and it doesn’t come from my food budget if I’m going to go buy a hamburger from a restaurant.

Craig: Do you think that it’s possible for students to stay solvent in the black only using cash flow and cash that they got from summer gigs?

Ryan: Not normally, co-op can help because normally those jobs are a bit higher paying and definitely full-time. But I think most students require student assistance from OSAP or other provincial student-aid plans and then it’s definitely important that they earn some money over the summer but I think student income could almost never cover the full cost of being a student.

Craig: So are part-time jobs just pretty much obligatory in a lot of cases?

Ryan: I think so, and even more so now that expenses are higher. In some ways it’s important for students to have almost any kind of part-time job because generally that’s good experience. In terms of being in a work environment and working with other people and working in a structure.

Craig: What can students do? It’s always good to finish a budget year with some money left over so what can students do during the school year and at the end of the summer to better prepare for the following year?

Ryan: So one thing is to track your expenses. So that’s a bit different than budgeting. It’s important to both plan ahead and project and set out how much money it makes sense to spend on different things over time. But then also, you have to track your spending against it. So, writing down and categorizing whatever you spend. There are programs out there that help you track your spending or you can download your transactions. I do it where I record it manually into a spreadsheet myself. You have to find something that works for you. But it’s definitely important to track your spending so you can look at your behavior against what you expected to do.

Craig: This is all great advice Ryan, thanks so much for this.

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10 Things to Know About Taxes – Winter 2015

Come learn about filing taxes and have your questions answered by a personal tax expert. Join our discussion on taxes for students in Canada. Have you never filed taxes before? Are you unsure of how to properly file your taxes? We will discuss how easy it can be to file your taxes, tips for help with filing your taxes and the numerous benefits that you will get from doing so.

Roundtable

Our roundtable event will answer all of your questions as well as cover:

  • The basics of income tax
  • How to file your taxes
  • Deductions and credits you, as a student, are eligible for

The event will take place March 4th at 2pm (RCH 208) at the University of Waterloo and March 5th at 12pm (ARTS 2C17) at Wilfrid Laurier University.

Please register for the event on our website.

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Fall 2014 Waterloo Banking Project staff

Apply to become a part of Canada’s first student-run banking organization and earn valuable experience helping fellow students. Join the Waterloo Banking Project staff for the Spring or Fall 2015 terms as we continue to build and begin the launch of student-focused financial services.

Our social enterprise startup requires a broad range of talents and perspectives. We are seeking applicants who are enthusiastic, diligent, resourceful, and good communicators. Working as staff on the project offers experience relevant to startups, social enterprise, and other business settings in addition to banking and financial services. We encourage students from all faculties at both Waterloo and Laurier to apply.

Staff will be expected to commit a minimum of six hours per week, deal with unique challenges, and work effectively on individual and group projects. We will consider candidates who are on school term at Laurier, and Waterloo in all areas of study who are in their first or second years of school.

All new staff will begin serving in the Customer contact department for a minimum of two terms before progressing into any of the other departments.However, new staff will have the opportunity to work on projects in their prospective department.

The organization works on a not-for-profit basis and no positions in the project are paid. We do focus on offering our staff professional training as well as valuable and rewarding experience.

About Each Department

Customer Contact:

Mission: Ensuring positive customer experiences

Typical responsibilities:

  • Interacting positively with current and prospective customers

  • Promoting the project and its mission

  • Providing support at marketing and education events

New staff must serve in the Customer contact department for a minimum of two school terms before progressing into any of the other departments.

Education and Financial Planning:

Mission: Educating students in personal finance to help them build a foundation for success

Typical responsibilities:

  • Financial education programs

  • Speaker and discussion events

  • Online database of financial resources

Web development and Information Services:

Web development Mission: Devising effective systems for learning, communication, and personal financial management

Typical Web development responsibilities:

  • Developing online personal finance tools

  • Creating customer and audience interfaces

  • Designing websites

Information services Mission: Ensuring proper and reliable functioning of computer and information services

Typical Information services responsibilities:

  • Managing websites and content management systems

  • Implementing online surveys

Public relations & Marketing:

Mission: To increase awareness, understanding, and affinity for our project and its purpose.

Typical responsibilities:

  • Media channel management (social media and blog)

  • In-person promotion

  • Content creation

  • Market research and analysis

  • Media relations

Human Resources:

Mission: To recruit, train, and maintain an effective student staff.

Typical responsibilities:

  • Staff orientation and training

  • Hiring and staff planning

  • Staff professional development

  • Internal staff social events

Development & Fundraising:

Mission: To assemble funds and resources via funding proposals and presentations to potential investors.

Typical responsibilities:

  • Corporate sponsorships

  • Donor prospecting & Relationship management

  • Competitions and grant applications

  • Proposal development and presentations

  • Generation of fundraising strategies

  • Networking event attendance

Finance

Mission: Planning and managing our resources to create a sustainable social enterprise

Typical responsibilities:

  • Budget tracking and analysis

  • Financial statement preparation

  • Employee expenses and internal controls

The deadline for applications is 11:59 p.m. Friday 6 March 2015.

To apply:

  1. Winter 2015 Waterloo Banking staff application form

  2. Send your resume with a filename that includes your name to apply@waterloobanking.com with the subject line “[Your Full Name] | Waterloo Banking staff application”

  3. Please share our hiring announcement on Facebook and retweet our tweet about hiring so your friends and fellow students will also have an opportunity to apply.

Visit our About Page, like us on Facebook and follow us on Twitter @WaterlooBanking to learn more about Waterloo Banking Project.

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Financial Launchpad Event Winter 2015

Launchpad Flyer

The Waterloo Banking Project is hosting a Finance Launchpad Event! Come out if you want to learn more about personal finance, budgeting, saving and more! There are two sessions: Day 1 is on Monday and Tuesday and Day 2 is on Wednesday and Thursday. These sessions are completely FREE.

Sessions run from Jan. 19-22.

Session one – Attend Monday OR Tuesday and we will cover:
-Intro to planning your finances
-Goal setting
-Budgeting

Mon. Jan 19th will be in UW DWE 3518 from 3 – 4 pm
Tues. Jan 20th will be in UW DWE 2527 from 3 – 4 pm

 

Session two – Attend Wednesday OR Thursday and we will cover:
-Borrowing
-Income & Taxes
-Investing
-Finances after graduation

Wed. Jan. 21st will be in UW DWE 2527 from 3 – 4 pm.
Thurs. Jan 22nd will be in UW DWE 1502 from 3 – 4 pm.

Please fill out the Launchpad Registration Form.

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Waterloo Banking Project featured in Waterloo Region Technology Spotlight Ryan Chen-Wing, Hemal Patel, Aniket Gaikwad

Waterloo Banking Project appeared in The Waterloo Region Record’s Technology Spotlight on November 3, 2014. The Project’s goal is to help university students to become more successful by graduating with more money, less debt, and better financial skills. Senior Director Hemal Patel and staff member Aniket Gaikwad explained what being a part of the Project means to them in the article.

 

What makes this initiative different, organizers say, is the one-on-one free consultations staff will offer students. A budgeting and web app tool is also being developed to help students track what they spend in university…

The start-up culture in the city of Waterloo was especially helpful when starting the project. Hemal is quoted as saying: “A lot of students and faculty are happy to help with startups and advise on new ideas that help the student community,” Hemal adds. “We got a lot of help from the community around us to develop the project. Doing it here is probably a lot easier than doing it anywhere else because of the close-knit startup community that is developing in this area.” – Students launch banking project to help fellow students Waterloo Region Technology Spotlight 3 November 2014

Waterloo Banking Project currently has 32 staff from Wilfrid Laurier University and the University of Waterloo. The Project will offer one-on-one consulting sessions with students to help them learn to budget their money well. Waterloo Banking Project is actively working to prepare for launch of student focussed financial services in Spring 2015.

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