BBA 2007 (Finance)
MBA 2011 (Corporate Finance)
Full-time MBA, Finance
Jared Marks made the most of his summer internship opportunity at Ford Motor Company in Dearborn, Mich. His hard work, ambition, and enthusiasm paid off when Ford offered Jared a full-time position as a financial analyst in the Career Foundation Program.
Jared graduated with a BBA degree in finance from the University of Iowa in 2007. Upon graduation, he worked in the finance development program at HNI, the second-largest office furniture manufacturer in the world. He served as associate product business manager at The HON Company, HNI's largest operating company, prior to returning to the University of Iowa for the Full-time MBA Program, where he graduated from in 2011.
Jared gave us an update on his current position at Ford Motor Credit Company, and explained how Tippie hleped him get there.
What was your biggest takeaway from your Tippie experience?
I approach problems in a different light, from a different direction. I am more away of the big picture as I am working on my day-to-day tasks, and more aware of how my actions can have an impact on the profitability of the business. I think the greatest gift Tippie has given me is the confidence to succeed in corporate America. I am more confident working with others, and I feel my opinion and my ideas add value to discussions at work. My Tippie MBA has put me in control of my own career, and I couldn't be happier about where I am today.
Where has your Tippie MBA taken you in your career?
My internship with Ford Motor Credit Company provided exposure to senior management and opportunities to learn more about the auto industry. I also gained some important life lessons during my internship. My audit supervisor was an ideal role model and helped me to strengthen my professionalism and communication skills. These lessons I will take with me everywhere.
I accepted a full-time position at Ford Motor Credit Company, and my title is operating cost analyst. My position is part of the Career Foundations Program for business college graduates. My primary duties include supporting the operations departments with their expense forecasting, evaluating lease vs. buy decisions based on the lease terms, borrowing rates, depreciation, and overall cash flow, and actively supporting the board of project management.
Which functional areas do you get to work with at Ford?
I primarily support five different operations departments: Canada Sales and Marketing, U.S. Sales and Marketing, and North America IT. The sales team works directly with dealers as profitability consultants, while incentivizing and steering dealers in directions the company envisions. Marketing produces the national ad campaigns you see for leasing and financing a Ford vehicle through Ford Credit. IT has one of the largest budgets of all of Ford Credit, supporting the network, building the infrastructure, and developing the latest and greatest the industry has to offer. Digital Mobile is a hot topic in the automotive world, as it is in many other industries.
My department supports the SG&A of Ford Credit. We are actively striving to reduce the operating cost ratio to support Ford's goal of returning to investment grade debt.