UMUC

[dbajor]

I have over 26 years of professional experience in accounting, finance, and investments. Currently, my main responsibilities involve managing a large cap core equity fund and managing approximately 12 portfolio managers in the South Michigan region for Comerica Bank, a large regional bank with significant operations in Michigan, Texas, California, and Florida. I welcome any questions that you might have about careers in the investment field, the CFA exam, or banking in general.

My biography is included below:

Doug Bajor has over twenty-six years of professional experience in a variety of areas including public accounting, corporate lending, business valuation, and investment management. Mr. Bajor is currently responsible for the management of investment portfolios for high net worth individuals, endowments, and foundations and recently became the Investment Discipline Manager for the South Michigan Region and Co-Manager for Comerica's Growth Strategy equity style. Previously, he was also responsible for Comerica's Manager of Managers Service.

Prior to joining the investment department, Mr. Bajor was a Vice-President in the Closely-Held Business Section of Wealth & Institutional Management where he was responsible for the valuation, review, and ultimate sale of large, complex stocks and partnership interests owned by estates and trusts. Mr. Bajor began his career with Comerica as a senior loan analyst in the Comerica's Corporate Banking Department where he had extensive experience with middle market loan customers. Prior to joining Comerica, he worked for Arthur Andersen & Co. for three years in their audit division.

Mr. Bajor received his Bachelor of Arts degree in Accounting from Michigan State University and his Master of Business Administration degree in finance from the University of Detroit. He is a Chartered Financial Analyst (CFA) charter holder, a Certified Public Accountant (CPA), a NASD Series 7 licensee, and a NASD Series 63 licensee. Doug is a member of the CFA Society of Detroit, the Chartered Financial Analysts Institute, and the Michigan Association of CPA's.

For the last nine years, he has been a grader for the Chartered Financial Analysts exam and was a member of the Candidate Curriculum Committee for three years. His community interests include his role as an assistant coach for the cross-country team at the Caesar Chavez Academy and formerly at Holy Redeemer High School. Doug is an active member of Comerica's Volunteer Committee. He lives in Royal Oak, Michigan.

[ksaw]

Hi Doug,

Welcome to the forum. What was the transition from auditing to investment like? What would be your advice for someone who would like to make a career change from accounting to investment field like yourself?

Thanks,
Kanitta

[dbajor]

Kanitta,


The transition was more gradual than immediate. While completing my MBA, I was performing business valuation and estate settlement work for closely-held business owners as a part of our trust services. I was taking a number of investment and finance courses at the graduate level and became familiar with several of the portfolio managers at our Bank. They encouraged me to pursue the CFA designation as a way to enhance my opportunities on the traditional portoflio mgt. side. I passed the exam and asked our Chief Investment Officer to consider me for opportunities to work for him. Eventually, a position became available and I joined the team.

An accounting background is very useful in passing the three levels of the CFA Exam. The clear and logical thinking that is a part of accounting helps in analyzing company financials and reviewing client portfolios especially with regard to tax issues. It also at times enhances credibility with clients.

[jsen]

Hello Doug, thanks for being here. Could you please tell us something about the opportunities available for investment jobs compared to auditing? Are the jobs mostly in large cities like New York and San Francisco?

I see that you are a CFA charter holder, a NASD Series 7 licensee, and a NASD Series 63 licensee. Are all these necessary for investment jobs, or is just, say the NASD Series enough?

Thanks,

Jayanta

[ksaw]

Thanks Doug. I am wondering if CFP is a good alternative for someone who does not have a required experience to sit for a CFA exam?


Thanks,

Kanitta

[dbajor]

Kanitta,

The CFP designation is helpful for those individuals that would like to work with private individuals. It certainly helps to bridge the gap between public accounting and investment management. The curriculum and the exam are not as arduous as the CFA program. The CFP designation may help to open some doors with welath management depts. at certain banks, brokerage firms, and registered- investment advisory firms (RIA's). That said, the CFA designation will open more doors and is more widely respected in the investment profession.

Doug Bajor

[dbajor]

Jayantta,

You do not need alll three licenses to work in the investment field. The latter two are helpful / necessary if you want to work at a brokerage or at a RIA (registered investment advisory) firm. The CFA designation is to the investment profession what the CPA designation is to the accounting profession. It is very well - respected and demonstrates a high level of knowledge on the part of the charter holder.

The more credentials that you have the better the chance of obtaining a good job!

Doug Bajor

[jduhadway]

Doug, I'm a student in the Masters in Accounting and Financial Management Program. Just getting started. My work history is from 11 years as a navy pilot, up to mid level management, and currently as an international pilot for a major airline. I have an ancient, 15+ year old, undergraduate degree in Economics. My interests lie in working with people, and in retirement/wealth management. Three questions: 1. Have you ever met anyone in your community that came from an other-than-financial background? 2. How would you recommend a transition from the other-than-financial world into your career field? 3. Do you think it possible to maintain a second career, and still contribute enough to a firm in the finance/accounting/wealth management realm that they would want to have someone like that on the payroll? Thanks, Jay

[ksaw]

Hi Doug,

Could you elaborate on how your day is like as a financial analyst on a daily basis?


Thanks,
Kanitta