Industry guidance drives innovative grad programs

A BETTER BUSINESS EDUCATION

by Randall Anthony Mang

Mari Jensen knew she would require a specialized graduate degree to make her leap into a career in wealth management. Her only question, where best to obtain it? The former Scotiabank manager’s search led her to SFU Business in Vancouver. There she discovered SFU’s Global Asset and Wealth Management MBA – a program literally tailored to her career needs.

The MBA she chose is one of several custom degrees launched by Simon Fraser University in recent years as a result of its business school’s close collaboration with industry.

For Ms. Jensen, the results speak volumes. Since earning her MBA in June 2004, she has received a promotion – and a transfer to Toronto – where she is now a senior manager of Business Development at Scotia Cassels. Mission accomplished.

At SFU Business’ newly minted Segal Graduate School of Business in downtown Vancouver, Dean Ernie Love explains, “In the late ’90s, we began forming business councils (groups of sector-specific companies) to help SFU create and guideMBA programs to better meet current and emerging skills requirements.”

The resulting programs integrate business study with a range of internship programs, expert guest speakers and other activities that provide BA students with theory, hands-on experience and other exposure to real-world management issues.

“A group of high-tech companies formed our first business council to assist in the design and launch of a Management of Technology MBA,” says Dr. Love. Since then, that council helped SFU Business modify the program for online delivery, availing it to the high-tech community around the world.

“When financial services firms in Vancouver saw that we wanted to launch a Global Asset and Wealth Management program, the first thing they did was link us to firms on Bay Street,” explains Dr. Love. “We now have 23 members on that business council, including major banks and investment houses working with us.”

Ms. Jensen says, “The MBA gave me the theoretical foundation to advance my knowledge base into more specific areas of wealth management, and it allowed me to apply that theory in working applications while I studied.”

As part of her program, for example, Ms. Jensen helped administer an SFU student endowment fund, at the time valued in excess of $6.5 million. She also worked as an intern in various divisions of Scotia Private Client Group.

“There’s nothing quite like managing real money to focus the mind,” says Richard Durrans, vice president of investment management
firm Phillips, Hager & North.

Mr. Durrans has been involved in SFU’s Global Asset and Wealth Management program since its inception.

He notes that while business council members act largely in an advisory role in the creation and ongoing refinement of the syllabus, some get more involved, mentoring students, even giving lectures and providing expert guidance.

“When the students complete their studies, they have more than theory,” he says. “And we are getting qualified people who can manage money.”

Ms. Jensen says, “Part of what I learned was how to balance a heavy workload with networking and volunteer activities. Gaining my MBA also taught e that learning is an ongoing process.”

SFU’s Dr. Love says, “Business schools are highly competitive – as competitive as any business. We’re stepping up to that competition by ensuring that our programs are relevant and rigorous. That makes a strong value proposition for everyone involved.”

Recently, SFU opened the doors of its new Segal Graduate School of Business downtown Vancouver campus, a move that has brought all the SFU MBA programs into one central location.

Dr. Love describes the Segal Graduate School of Business as a hub of centres of excellence. “In training our MBA students, we wanted a venue with an identity, where we could engage in ongoing dialogue with the business community; where issues can be raised, debated and researched. That way, everyone – the business community, students and faculty – is enriched by the process.

“In this location, the business community can be an even greater part of all we do and offer.”

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