Stout Risius Ross gives BBAs a taste of "A Day in the Life"
Aaron Sobel and David Caylor, Contributing Writers
Issue date: 4/9/07 Section: Inside Ross
The Stout Risius Ross "Day in the Life" program afforded us a great opportunity to gain hands on experience at one of the many companies recruiting at the Ross School of Business. Stout Risius Ross (SRR) is a firm that offers a variety of services such as investment banking, performance improvement, business valuation, dispute advisory, real estate appraisal, and machinery and equipment valuation.
We began the day by meeting a senior analyst in the Dispute Advisory and Forensic Services (DAFS) group, who gave us an introduction to SRR's background and the various services it provides. We were then able to meet with Jeff Risius, Managing Director and head of the Detroit office, for a formal company presentation. From here, we were introduced to professionals in the Valuation & Financial Opinions (VFO) group. The VFO group is responsible for providing independent valuation and financial opinions related to mergers and acquisitions, estate planning, financial reporting, ESOP & ERISA advisory, and shareholder planning. A typical valuation engagement may last four to six weeks, in which time the analyst will gather the necessary data, meet with the clients to get an overview of the company, perform industry research, prepare an analysis, and write a comprehensive report. As part of the engagement, analysts have the ability to have numerous interactions with senior management at client companies.
After meeting with the VFO group, a few of the employees took us out to lunch where we were able to further discuss their work and the firm's culture. It was great getting to know the employees and learning about their interaction both on the job and outside of work, an important aspect that is difficult to gauge from a job description alone. Although they work demanding hours, they also participate in flag football leagues, happy hours, and community service events where the team goes to downtown Detroit to assist inner-city students.
Following our lunch, we returned for a 1PM conference call with a client of the VFO group. We heard SRR's team present their analysis of the company and certain growth projections to the ESOP trustees. They also explained the pros and cons of divesting one of the company's divisions. This conference call was a great opportunity for us to learn precisely what the VFO group does and what is the analyst's role within the group. We also learned some of the key differences between valuation and investment banking; for example, we learned that companies often require more precise valuations than simply the transaction oriented value that investment banks apply.
We then embarked on the most technical portion of our day, where we were introduced to a senior analyst in the DAFS group to learn about his daily responsibilities and the skill set he uses to carry out his job. He walked us through some of the financial concepts and models that he uses and showed us reports that he authors. While many companies use a standard model, employees in the DAFS group often create custom models due to the unique characteristics of the companies and situations that they analyze. These analyses draw on many of the concepts we learn in the classroom.
Throughout our visit, we were exceedingly impressed with SRR. It was clear that SRR is an excellent firm and one that should be looked at for career opportunities by students at Ross.
We began the day by meeting a senior analyst in the Dispute Advisory and Forensic Services (DAFS) group, who gave us an introduction to SRR's background and the various services it provides. We were then able to meet with Jeff Risius, Managing Director and head of the Detroit office, for a formal company presentation. From here, we were introduced to professionals in the Valuation & Financial Opinions (VFO) group. The VFO group is responsible for providing independent valuation and financial opinions related to mergers and acquisitions, estate planning, financial reporting, ESOP & ERISA advisory, and shareholder planning. A typical valuation engagement may last four to six weeks, in which time the analyst will gather the necessary data, meet with the clients to get an overview of the company, perform industry research, prepare an analysis, and write a comprehensive report. As part of the engagement, analysts have the ability to have numerous interactions with senior management at client companies.
After meeting with the VFO group, a few of the employees took us out to lunch where we were able to further discuss their work and the firm's culture. It was great getting to know the employees and learning about their interaction both on the job and outside of work, an important aspect that is difficult to gauge from a job description alone. Although they work demanding hours, they also participate in flag football leagues, happy hours, and community service events where the team goes to downtown Detroit to assist inner-city students.
Following our lunch, we returned for a 1PM conference call with a client of the VFO group. We heard SRR's team present their analysis of the company and certain growth projections to the ESOP trustees. They also explained the pros and cons of divesting one of the company's divisions. This conference call was a great opportunity for us to learn precisely what the VFO group does and what is the analyst's role within the group. We also learned some of the key differences between valuation and investment banking; for example, we learned that companies often require more precise valuations than simply the transaction oriented value that investment banks apply.
We then embarked on the most technical portion of our day, where we were introduced to a senior analyst in the DAFS group to learn about his daily responsibilities and the skill set he uses to carry out his job. He walked us through some of the financial concepts and models that he uses and showed us reports that he authors. While many companies use a standard model, employees in the DAFS group often create custom models due to the unique characteristics of the companies and situations that they analyze. These analyses draw on many of the concepts we learn in the classroom.
Throughout our visit, we were exceedingly impressed with SRR. It was clear that SRR is an excellent firm and one that should be looked at for career opportunities by students at Ross.
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