Like last week, this week was fairly uneventful. In terms of internship work, I finished up all the FATCA work available to work on. I’ve also been going back and forth with a laptop supplier from HP discussing details about a new lease of about 400 laptops. I reviewed the terms that they were able to offer and read through the whole contract to double check everything and organize the details of all the costs that contribute to the total. I also attended a demo meeting for a software upgrade that the trust will be implementing across all their systems […]
This week at work, I continued my work on the income commission policy. I met with the team overseeing the process, and interviewed a member of the retail department to gauge their involvement with products that are charged income commission in attempts to find out if the work they are doing with these services is fair compared to the fee the customer is charged. I also continued to work on FATCA work with the accounting team and discuss next steps for preparing the report. I also drafted a document to give feedback to the business intelligence team about what problems […]
I only had two days of work this week since I left for Queenstown on Wednesday. Regardless, early in the week, I had a meeting with a member of the accounting team at the trust to continue my work with the income commission investigation. The more I learn about the full process of the accounts that are charged this fee, the more it is beginning to seem unfair and uncorrelated with the work that is being done with the accounts. When I arrived in Queenstown, only one other member of our group of 4 was there. We spent the day […]
This week was fairly uneventful. I continued with my normal FATCA, income commission, and fee protect assignments at my internship. I had my first meeting with someone on the FSS team in efforts to value the time and effort that is put into customer accounts that are charged income commission within the FSS team. I still need to talk to the accounting, retail, and IT teams before I have a close to complete understanding of the true effort and time that justifies this commission fee. I didn’t do much this weekend. My roommates and I had planned to complete the […]
This week at my internship I continued on with the income commission policy investigation. We outlined the steps we will take with each team that contributes to income commission so we can value how much time and effort each person dedicates to this policy and find out how much the work is really worth. The main question we are trying to answer is if the current commission fee that is charged is fair to all clients. I also did some work with FATCA, making sure foreign clients of the Trust are complying with the tax standards and providing us with […]