Work Placement BSc Finance Degree Programme at UCC The purpose of the Work Placement module (FI3001) in the

BSc Finance Degree programme is to complement classroom teaching with an exposure to institutional work processes in financial services and other relevant organizations. The module involves a six month period of internship on financial services sites or in treasury/financial departments of industrial firms, together with a research report thereon. This document provides a set of guidelines on the placement component of the BSc Finance degree, intended to convey a common understanding of the practical and academic issues associated with placement to all stakeholders, that is, Students, Employers and Business Mentors, Academic Mentors within the university and the Placement Officer. Section One outlines the roles and responsibilities of these 4 parties. Section Two outlines the academic assessment procedures for grading the placement module. This document should be read in conjunction with the Faculty of Commerce (UCC) document A Guide to Work Placement published by the Careers Service. Section One: Roles and Responsibilities (a) The Student

Placement is a three-way contract between a Student, the employer and the University, and each Students conduct during the internship period will reflect not only on him/herself but on UCC and the reputation of its programmes. Thus each Student on placement will effectively act as an ambassador for UCC. During placement, each Student will Act within the terms and conditions of employment laid down and advised by the employer, and will take reasonable care of health and safety of him/herself and those with whom s/he comes in contact. Approach work diligently, take responsibility and be willing to act on his/her own initiative where appropriate Be punctual and observe rules governing time practices and dress code Be motivated and enthusiastic. Satisfy academic requirements Use employment facilities such as email and the internet, in accordance with the employers code of practice. Participate in firms social activities where appropriate

Each Student should agree contact arrangements with their academic mentor at a meeting prior to going on placement. Monthly contact between Academic Mentor and Student is recommended throughout the placement period, in addition to submission of the Students weekly learning log.

(b)

The Employer and Business Mentor

Employers who participate in the Work Placement programme have responsibilities to treat Students exactly as they treat their other employees, and a contract of employment will exist between employer and Student for the duration of the placement. A Business Mentor within each organization will act as supervisor to the Student during placement, and should be willing to assist with any problems that might arise. This mentor will outline the duties, activities and training that the Student can expect during the placement, will liaise with the Academic Mentor when the latter makes a site visit and with the Placement Officer where necessary, and will be asked to complete the Business Mentor Report, in consultation with the Student, at the end of the internship period. The Business Mentor should also sign off weekly on the Student Learning Long where possible. In summary, the role of the Business Mentor is to: (c) Advise and support the Student during work placement, Liaise with the Academic Mentor, Evaluate the performance of the Student in work placement Complete the Business Mentor Report at the end of the placement.

The Academic Mentor

The Academic Mentor will make one on-site visit to the Student and Business Mentor during the work placement. S/he will also liaise closely with the Business Mentor and Student throughout the work placement period. Academic Mentors will typically make a minimum of two contacts with a Students Business Mentor, before the site visit and at conclusion of the placement period. Monthly contact with Students is recommended. Work Placement Visit This visit by the Academic Mentor will ideally be made mid-way through the work placement period. The objectives of the visit are to: Gain a greater insight into the company and its activities Review the tasks/projects being undertaken by the Student Ascertain if there are any difficulties associated with the placement from the Students and the Business Mentors viewpoints Make an initial evaluation of the Students performance in work placement It is suggested that the visit should take the following format: Meeting with the Business Mentor for a preliminary discussion Meeting with the Student to discuss progress and to check and sign the Students learning log book

Wrap-up meeting with the Business Mentor and Student, providing feedback on the placement to-date, together with recommendations, if required. The academic mentor will issue an interim report to the Work Placement Officer following the visit. Academic Mentors Log It is recommended that the Academic Mentor maintain a log for each of the Students being evaluated. This log should include: contacts made to the Business Mentor and issues raised contacts made by the Student and issues raised assessment form completed during the site visit together with comments/recommendations In summary, the role of the Academic Mentor is to: Liaise with and support the Student during work placement, Liaise with the Business Mentor, Help set the placement in a wider context of learning Make an interim report to the Placement Officer following the site visit Evaluate the performance of the Student at the end of the placement and award a judgement thereon.

(d)

The Placement Officer

The Placement Officer is responsible for administering the BSc Finance work placement programme. S/he supports and assists Students in locating relevant placements that satisfy the criteria for internship laid out in the College Calendar and programme documentation. S/he negotiates placements with participating firms, agrees a job specification/description with such employers, coordinates and facilitates the interview process and liaises with participating firms throughout the placement period. The Placement Officer will also be available to Students during the placement period to discuss any issues arising from the placement. S/he will initially contact each Student approximately one month after the start date of the placement. The Placement Officer will also communicate with both Business and Academic Mentors throughout the placement period. In summary, the role of the Placement Officer is to: Identify relevant placement firms for the Student internship programme

Administer the placement of Students with firms, including the location of placement firms, agreement of job specifications, liaison with employers. Provide support for Students on placement Act as the primary contact between the employer and the university.

Business Mentor Report on Placement Performance

Student Name: Placement Period: University: Business Mentor:

Section A (to be completed by the Placement Student)

Summary of Accomplishments:

Section B (to be completed by the Placement Student)

Interns comments:

Section C (to be completed by the Business Mentor)

Comments (were overall goals met? Strength? Possible improvements?)

Section D: Student Performance

1. Please rate the Students overall placement performance according to the rating scale below: 1 2 3 4 5

1 = Did not meet job requirements. Significant performance improvements urgently needed 2 = Met minimum job requirements. Work improvement plan was needed to bring performance to a satisfactory level 3 = Met normal job requirements with few exceptions. Improvements in performance needed in one or more major job elements. 4 = Fully met job requirements. Performance was what was expected of a person in this position. 5 = Exceeded job requirements. Student performance impressed, exceeded what is normally expected in this position.

2. Please rate the Students placement performance under the following headings according to the rating scale below:
Never Seldom Sometimes Usually Always

!----------!----------!----------!----------! Did the Student..

Complete tasks effectively and efficiently? Complete tasks on schedule? Produce an acceptable volume of work? Produce work of good consistent quality? Demonstrate skills and knowledge in his/her technical area? Seek help and additional information when required? Demonstrate a willingness to acquire new skills and to learn? Learn from their mistakes? Exhibit good planning and organizational skills?

1 1 1 1 1 1 1 1 1

2 2 2 2 2 2 2 2 2

3 3 3 3 3 3 3 3 3

4 4 4 4 4 4 4 4 4

5 5 5 5 5 5 5 5 5

Exhibit initiative where appropriate? Express him/herself clearly verbally? Express him/herself clearly in writing? Communicate effectively with others? Work well with others? Add value to the group, where appropriate? Conduct him/herself professionally to those inside and outside the group, including clients/customers? Maintain a good attendance record? Attend punctually?

1 1 1 1 1 1 1 1 1

2 2 2 2 2 2 2 2 2

3 3 3 3 3 3 3 3 3

4 4 4 4 4 4 4 4 4

5 5 5 5 5 5 5 5 5

Business Mentors Signature: Students Signature:

Date: Date:

Academic Mentor Log

Students Name . Contacts Record Date Student/Business Mentor

Course .. Points Raised

Academic Mentor Visit

Date of Visit Name of Company

.. .. Position in Company .. .. .. .. .. ..

Company Representatives met

Based on your meeting with the Student and the Business Mentor, please assess or rate the following: 1. Work Experience Yes Is the work challenging? No

Is the work of relevance to the Students course of study?

Are there well defined targets to be achieved/projects to be completed? Is there adequate support/supervision?

Are health and safety matters being addressed adequately in the work place? Is the Students log book being completed and is it up to date? Please sign and date the log book.

2. Business Mentors Evaluation of the Students Performance !----------------------------------!

Poor Excellent

Students level of technical knowledge for this placement 1 5 Overall quality of work carried out by Student 5 Ability of Student to work with others 5 Timekeeping of Student 5 Ability of Student to manage their time effectively and to meet deadlines 5 Ability of Student to manage change, if appropriate 5 1 1 1

2 2 2 2

3 3 3 3

4 4 4 4

1 1

2 2

3 3

4 4

Assessment of the Students strengths and weaknesses based on this placement Overall rating of the placement Further comments/suggestions

Academic Mentors Name Signature Date

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SECTION TWO ACADEMIC ASSESSMENT OF STUDENT PLACEMENT BSc FINANCE DEGREE Each Student on Work Placement is assigned both an Academic Mentor and a Business Mentor. The Academic Mentor is a member of staff from either the Department of Accounting, Finance & Information Systems or the Department of Economics. The Business Mentor is an on-site supervisor or manager who oversees the work of the placement Student. The roles of the Academic Mentor and the Business Mentor, as well as that of the Placement Officer, are described in Section One. The Work Placement has a credit weighting of 20 credits, one-third of the total marks, in the third year of the BSc Finance Degree. The Academic Mentor evaluates the Students work placement performance based on (i) Academic Mentor Log, (ii) Student Learning Log and (iii) Student Placement Report and presentation of same. A Final Report by the Academic Mentor makes a recommendation regarding a Pass or Fail judgement on the Students work placement performance and is forwarded to the BSc Finance steering committee. The Business Mentor Report is not given a direct weighting in determining the Pass/Fail recommendation but helps inform the Academic Mentor regarding the Students placement performance and may be used to verify the content of the Student Placement Report. Guidelines and Criteria for Assessment of Student Work Placement. A Pass judgement may be recommended by the Academic Mentor where (i) the Student is deemed to have performed in a satisfactory manner with regard to the role and responsibilities of the Student (see Section 1) and (ii) the Student has maintained a Student Learning Log and has completed and presented the Student Placement Report satisfactorily. The Student Learning Log The purpose of the Learning Log is to promote learning from experience. By recording observations and experiences as well as relevant reflections, a continuous learning process is facilitated during placement. The Log is a tool for identifying and reflecting on what is being learned. By providing a transcript of the evolution of the learning, it enhances awareness of the learning available from the placement experience. Regular recordings in a Log makes for the most effective use of the placement as a learning opportunity. The Log also provides the Academic Mentor with a means of ensuring that the placement opportunity is aligned with the Students studies and provides a framework for academic evaluation, feedback and guidance.

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Initial recordings in the Learning Log should outline the Students goals regarding the skills, knowledge, understanding and attributes expected to be achieved during the placement and the reasons these are important in the context of personal education plans and career aspirations. During placement the Learning Log should describe observations and experiences as a contribution to learning and should reflect on and evaluate these in terms of both (i) the goals described previously and (ii) the guidelines for writing the Student Placement Report. The Learning Log as a research tool is (i) a way of making the placement experiences visible for the learner and mentor and (ii) a way of providing material for writing the Student Placement Report at the completion of the placement. The Student Placement Report A report of max 4,000 words should provide a discussion of the following: (1) (2) (3) (4) the responsibilities held and duties carried out the experience gained and skills acquired the link between the BSc Finance course modules and their practical applications in the placement setting. the structure of the placement organization, how the position held by the Student fitted into this structure, the contribution made by the Student to the organization and to other persons (positions) within the organization with whom the Student had dealings. The availability and communication of information within the company, how information was communicated between layers of management and other employees. how the placement has confirmed or altered the Students career plans, ambitions and prospects. what the Student feels s/he has gained from the placement experience. a sample of work that the Student has completed, having regard to the requirements for confidentiality of the organization

(5) (6) (7) (8)

The Student Placement Report should be read by the Business Mentor and approved for submission with regard to matters of company confidentiality etc. The report is then to be submitted to the Academic Mentor before the end of the placement period. Students will make a presentation of the report at UCC shortly after the completion of the placement period. Note that the Business Mentor Report will enable Academic Mentors to take cognizance of non-comparability of placement positions across organisations.

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