Following graduation, Food and Resource Economics senior Asa Worden plans to return to his family’s organic farm. Last summer, he gained invaluable agricultural finance experience working for Morgan Stanley in New York. With support from the VP Promise, he dipped his toe into corporate finance and broadened his knowledge of risk management.
As a member of the commercial real estate institutional securities team, Worden assisted in analyzing a $305 million portfolio of real estate properties. The properties in this portfolio were under review to become commercial mortgage-backed securities (CMBS) products. CMBS products act as a bond and allow properties to be traded on the open market. Worden’s team examined underlying assets, evaluated potential risks, and confirmed all criteria needed to move forward with securing investments for each property.
In addition to analyzing CMBS products, Worden developed analytics for each portfolio. He calculated current expected credit loss (CECL) to determine investment potential and investigated potential hiccups. Worden also evaluated counter parties and potential borrowers through computing credit rankings and assessing the credit quality of each borrower.
“I received a crash course in portfolio management and how large corporations manage their assets,” Worden said. “Attention to detail in each of these processes was important, as any mistake could impact the borrower or firm.”
Another highlight of Worden’s experience at Morgan Stanley was working in a corporate setting. He enjoyed working with team members who pushed him to grow as a financial analyst.
“My time at Morgan Stanley was invaluable and clarified my career aspirations,” said Worden. “I had a great time on the commercial real estate team and gained practical experience with complex financial instruments. These skills that will benefit my future career.”
The VP Promise offers financial support to students engaging in experiential learning opportunities within agriculture, natural resources and related sciences. The College of Agricultural and Life Sciences is dedicated to fostering student development and success, encouraging students to expand their horizons through participation in study abroad programs, leadership roles, scholarly conferences, and other enriching experiences.