Meet Denise Herrmann, our faculty Alumna. Denise graduated in 2021 with a Master’s in Finance and Economics, specializing in the Risk Management track. She was one of the Laureates of the Ferrero Fellowship in 2020, a talent support programme provided by our esteemed partner Ferrero. The fellowship included an internship, and after completing it, she stayed with Ferrero and is now employed as an Intercompany Controlling Specialist. In a Q&A interview, Denise shares insights into her academic journey, discusses her role at Ferrero, and elaborates on how her studies at the University of Luxembourg helped secure her current position.
Denise, what motivated you to pursue a career in Finance, and how did your experience at the University of Luxembourg contribute to your professional development?
My motivation to pursue a career in Finance stemmed from a deep interest in understanding financial systems’ complexities and their crucial role in the global economy. The analytical nature of finance, combined with the opportunity to make strategic decisions that drive economic growth was particularly appealing to me. My experience at the Uni.lu was instrumental in shaping my professional development. The comprehensive curriculum, combined with hands-on projects and real-world case studies, especially with the collaboration of external partners from companies, provided a solid foundation in both theoretical knowledge and practical skills.
What inspired you to apply for the Ferrero Fellowship at the University of Luxembourg? Did it play a role in securing your future position at Ferrero?
The Ferrero Fellowship at the University of Luxembourg presented a unique opportunity to delve deeper into advanced topics in Economics and Finance while collaborating with distinguished faculty members and industry professionals. The Fellowship not only enriched my academic experience but also expanded my professional network. It played a significant role in securing my future position at the company by providing exposure to industry practices and trends, enhancing my research capabilities, and demonstrating my commitment to continuous learning and professional development. The skills and knowledge gained during the Internship that was part of the Fellowship were highly regarded by my employer, Ferrero, facilitating a smoother transition into my current role.
Why did you decide to make the switch from the financial services sector to the fast-moving consumer goods (FMCG) sector? What factors influenced your decision to pursue a new direction?
The decision to switch was driven by a desire to explore new challenges and broaden my expertise. The FMCG sector offers a dynamic and fast-paced environment, with unique financial and operational complexities. This shift allowed me to apply my financial acumen in a different context, focusing on areas such as cost control and strategic planning. Additionally, the opportunity to work with a multinational company known for its innovation and beloved brands was highly motivating. This switch has enabled me to develop a more diverse skill set and contribute to a different facet of the economy.
As an Intercompany Controlling Specialist, could you provide an overview of your core responsibilities and tasks? How have your studies at the FDEF prepared you for the challenges and demands of your current role?
As an Intercompany Controlling Specialist, my core responsibilities include the calculation of transfer price for Ferrero products as well as the calculation of final year adjustments and overseeing financial transactions between the company’s subsidiaries, ensuring compliance with international financial regulations, and maintaining accurate and timely financial records. I am also involved in analyzing financial data to identify trends and discrepancies and supporting audits. My studies, particularly the Risk Management track, have been instrumental in preparing me for these challenges. Overall, the coursework on financial analysis, strategic financial management and accuracy and discipline in general provided a strong foundation. Additionally, the emphasis on critical thinking and problem-solving skills during my master’s programme has been crucial in navigating the complexities of intercompany transactions and ensuring financial integrity.
What was your favourite subject during your Master’s, and which one has proven to be the most useful so far in your career journey?
My favourite subject during my Master’s was related to Financial Risk Management. The courses were intellectually stimulating and provided a comprehensive understanding of the various types of financial risks, their impact on businesses, and strategies to mitigate them. In addition to this subject, I particularly enjoyed working on my master thesis, which I wrote in collaboration with my current company during the internship. This experience was invaluable as it allowed me to apply theoretical concepts to real-world challenges, conduct in-depth research, and gain hands-on experience in the industry. The thesis project not only deepened my understanding of financial risk management but also strengthened my analytical and problem-solving skills. The insights and practical knowledge gained from both the Risk Management courses and my thesis have proven to be the most useful in my career journey so far. Additionally, the internship and thesis experience facilitated a smooth transition into my current role, providing a solid foundation and confidence in handling complex financial tasks.
Based on your experiences, what advice would you give current students aspiring to pursue a career in finance?
For current students aspiring to pursue a career in finance, my advice would be to focus on building a strong foundation in both theoretical knowledge and practical skills. Engage actively in your coursework, seek out internships and practical experiences, and stay updated with the latest industry trends and developments. Networking is also crucial – connect with professionals in the field, attend seminars and conferences, and leverage the resources and opportunities provided by your university. Finally, be open to exploring different sectors and roles within finance, as this can provide valuable insights and diversify your skill set. Continuous learning and adaptability are key to thriving in the ever-evolving financial landscape.