Precious Ozegbe - The World Bank Treasury Internship
In Her Opportunity Story, Precious shares her experiences and insights on becoming a Treasury Summer Intern at the World Bank. Applications for the internship are open until October 15, 2023. Apply here.
Precious Ozegbe
Precious is a first-class final-year student at the University of Lagos, where she studies Accounting. She recently completed a summer internship at The World Bank Treasury where she rotated across the Investment Management team, Banking Operations team, and the Advisory & Partnership team contributing to the twin goals of the World Bank Group.
With an exceptional academic record, she has acquired in-depth knowledge in strategic financial management, corporate strategy, and data analytics. In her third year, she represented her University at the CFA National Equity Research Challenge. She is also the head of Corporate Communications and Partnerships at The Investment Society, Unilag, and a student member of the Institute of Chartered Accountants of Nigeria (ICAN).
Outside work, Precious is passionate about SDG 1 & 4 and contributes to both by actively volunteering with the Lagos Food Bank Initiative and Chess in Slum Africa. She also enjoys running and travelling.
Before the Internship
Before applying, what steps did you take to research and prepare for the World Bank Treasury internship application process?
Before submitting my application, I diligently undertook a comprehensive preparatory phase for the World Bank Treasury internship. This journey began when I chanced upon Lukman's insightful post about his internship experience at the World Bank Treasury while browsing LinkedIn. This piqued my interest, prompting me to embark on an extensive research endeavour. I delved into the World Bank's official website, meticulously examined the profiles of previous interns, and diligently assembled my application documents in readiness for the upcoming application process.
Can you share some insights into the application and interview process and any specific strategies or resources you found helpful in securing the internship?
The World Bank internship application process offers invaluable resources to prospective candidates. Notably, they provide template formats for both curriculum vitae (CV) and cover letters, which proved to be indispensable guides during the composition of my application materials. Moreover, they offer an optional Diversity, Equity, and Inclusion (DEI) statement, a component I highly recommend every applicant explore. This statement allows individuals to demonstrate their comprehension of DEI principles and showcase active engagement in promoting them, preferably with specific examples.
Following the initial application submission, candidates are subjected to a one-hour assessment evaluating their proficiency in Economics, Finance, and Global Markets, and their grasp of the World Bank's mission. Subsequently, an interview with the team ensues, which, based on my experience, proved to be one of the most relaxed interviews I have encountered. The key to success in this phase is to effectively convey genuine interest and relevant skills. Additionally, it is highly advisable for every applicant to meticulously peruse the descriptions of the 16 teams within the Treasury and identify their preferred teams. For your convenience, you can access both the CV and Cover Letter templates on the World Bank Treasury website.
Were there any particular skills or knowledge areas you focused on developing before starting the internship to make yourself a stronger candidate?
To bolster my candidacy, I proactively honed an array of skills, encompassing both technical and soft skills. Furthermore, I revisited my notes in the realms of finance and economics to ensure my preparedness. Concurrently, I was engaged in learning Python, and I dedicated additional effort to mastering this programming language. In a bid to acquire a more profound understanding of the World Bank's mission and operations, I invested considerable time in reviewing the organization's myriad reports and engaging in thoughtful inquiries.
During the Internship
What were the most memorable or challenging aspects of your day-to-day work during the internship, and how did they contribute to your overall learning experience?
The crux of my daily experience during the internship was enriched by engaging in enlightening dialogues with colleagues and supervisors, all of whom hailed from diverse backgrounds. These conversations were intellectually stimulating as they offered insights into their respective roles, the meaningful contributions they made through their work, and the unique trajectories they pursued in their careers, both within and beyond the institution. Simultaneously, the most challenging yet rewarding facet of my internship lay in the rapid assimilation and application of novel concepts. This phase, undoubtedly characterized by a steep learning curve, yielded enduring knowledge. Throughout this journey, my comprehension of financial markets, macroeconomic indicators, emerging innovations, and environmental concerns underwent significant enhancement, constituting a prominent takeaway from my internship experience.
Did you have the opportunity to collaborate with colleagues or teams from diverse backgrounds, and if so, how did this diversity enhance your understanding of financial development?
My internship presented the opportunity to collaborate with fellow interns on a multitude of tasks, an experience that not only fostered collective learning but also underscored the significance of diversity, both in terms of financial perspectives and cultural nuances, in the realm of international development.
Are there any specific training programs, workshops, or resources provided during the internship that you found particularly beneficial for your professional growth?
The World Bank furnished a range of invaluable learning resources via platforms such as Percipio and Opening Learning Campus. As an intern, I was granted access to the Bloomberg terminal and had the privilege of enrolling in the Bloomberg Market Concepts course, which substantially enriched my comprehension of financial markets and environmental, social, and governance (ESG) factors. The RAMP workshops and IMF summer program further amplified the depth of my knowledge.
Many aspiring young professionals may be curious about the transition from Nigerian schools to an international internship. How did your educational experiences in Nigeria prepare you for the challenges and opportunities you encountered during your internship?
A valuable lesson often overlooked in Nigerian tertiary institutions is the cultivation of grit. As an ambitious undergraduate embarking on my internship journey, my determination extended not only to personal growth but also to elevating The Investment Society and my university's global standing. The outcome was a return offer for a junior analyst role upon my graduation from the University of Lagos.
Surprisingly, those impromptu tests we faced in class proved to be instrumental during spontaneous meetings where contributions were essential. Even when seemingly unrelated elective courses like Psychology and Law were added to my accounting studies, their relevance became apparent as they nurtured me into a well-rounded professional.
In retrospect, it's evident that some of the courses we may initially perceive as unrelated to our core coursework can play vital roles in practical scenarios. Overall, I believe that numerous untapped developments and opportunities within Nigerian universities often go unnoticed. Greater awareness of these resources could empower students to make the most of them.
After the Internship
Reflecting on your experience so far, how has the internship influenced your career trajectory and personal goals?
Reflecting on my experience thus far, I am unequivocally certain that this internship has charted a course for a future marked by unprecedented success. My aspirations now gravitate towards the realm of asset and reserve management for central banks and the profound implications it bears on economies. My ambitions have grown exponentially, and I am firmly convinced that any endeavour I embark upon can be achieved with unwavering determination. The road ahead brims with boundless potential, and I eagerly embrace it.
What advice would you offer future applicants to the internship, on standing out and being successful at the application stage and during the internship itself?
For aspiring candidates contemplating an application to this internship, I offer the following counsel:
Endeavour to meticulously review the prerequisites to gain a nuanced understanding of the qualities sought after by the World Bank Treasury. Honesty ranks as the paramount virtue, so refrain from embellishing or falsifying skills that are not within your purview. During interviews, authenticity takes precedence; be poised and articulate your motivation, elucidating your "why." Remaining well-informed about global events and trends will further distinguish you as an applicant.
Resources Utilized
What resources or materials, such as books, online courses, or mentors, have played a significant role in shaping your understanding of finance and development, as well as your personal growth both before and after the internship?
My journey has been shaped significantly by various resources and mentors. Membership in The Investment Society at the University of Lagos stands as one of my most rewarding decisions. I extend profound gratitude to the nurturing environment and remarkable individuals within the society, who have evolved into an invaluable support system, offering unwavering encouragement and guidance. My affiliation with the Institute of Chartered Accountants of Nigeria (ICAN) played a pivotal role in my personal and professional development. Notably, the course on Strategic Financial Management equipped me with knowledge that proved readily applicable. I owe a debt of gratitude to my exceptional lecturers at Password Professional Tutors, who believed in me even before I had faith in myself.
Moreover, the mentorship I have received from numerous individuals has been instrumental in my journey. Their sagacious guidance has played a pivotal role in my development. Prominent figures in this regard include Dr. Peter Amah, Yusuf Ibrahim, Odion Dawodu, Chinwe Erobu, Charles Adara, Mueenat Salawu, Ramesh Ramiah, Marcelo Ramirez, Maria Fanenko, Qian Li, Antonio Vargas, Slyvia Omboga-Mwangi, Marco Ruiz, Juan Carlos, Philip Dongsoo Hong, Robert Lucas, Alexsandre Bibileishvili, and many others. Books, as reservoirs of knowledge, have significantly influenced my personal growth. Notable recommendations include Atomic Habits and 7 Habits of Highly Effective People. To enhance my understanding of finance, The Handbook of Fixed Income Securities proved to be an invaluable resource, complemented by extensive research via Google.
Further Insights
I firmly believe that every Nigerian student should have the opportunity to embark on a global internship at some point during their academic journey. It would be advantageous if universities could establish academic calendars that facilitate such experiences in the future. The exposure gained from global internships is truly invaluable.
Listen to Precious Ozegbe and Funmilayo Odusanwo on the Growth Podcast as they share their experiences as Treasury Interns at the World Bank here.
Her Opportunity Story spotlights Nigerian women who have landed transformative opportunities and provides detailed insights for other Nigerian women who would be applying for those opportunities.
Previous Edition of Her Opportunity Story: Read Nabila Okino’s journey to becoming a Fellow of the fully-funded Fletcher School Leadership Program for Financial Inclusion at Tufts University, USA here. Applications are currently open!
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