University of Maryland College Park Preparing Students for Careers in the Private Sector

University of Maryland College Park Preparing Students for Careers in the Private Sector

This presentation requests 30-minutes to demonstrate and discuss mutual innovation between the private sector and academia to prepare students for careers in the private sector. The authors will demonstrate and lead a discussion on the elements of a program at the University of Maryland College Park (UMCP) that could be illustrative for educators at other institutions.

In recent years, the changing private sector landscape in atmospheric sciences has exposed existing gaps in the education and preparation of the atmospheric science workforce and the skill sets needed for private sector employment. The AMS Mind the Gap Committee was formed to address concerns that standard atmospheric science coursework is not sufficient in preparing students for careers in the private sector. (AMS Mind the Gap Committee Terms of Reference)

The AMS Financial Weather/Climate Risk Management (FinWxRisk) Committee and the Board of Private Sector Meteorologists (BPSM) have also co-created a mission to build tangible links between the weather/climate community and the broad community of business and government decision-makers whose financial performances are affected by weather/climate risk. (AMS Career Guides)

An Information Statement of the American Meteorological Society encourages educators to build systems for students to synthesize and apply knowledge and skills gained throughout an Atmospheric Sciences curriculum. Educators are encouraged to allow the student to develop a product, preferably relevant to their career goal, that provides a tangible manifestation of her or his ability to apply the knowledge she or he has gained from academic work. These experiences can be embedded in an upper-level course, or they can involve participation in an on- or off-campus research project or internship. These activities may involve authentic research, the development of software or instrumentation, or involvement in atmospheric science education or outreach. (Bachelor's Degree in Atmospheric Science - An Information Statement of the American Meteorological Society)

The University Maryland’s Atmospheric and Oceanic Science Department (AOSC) in the College of Computer, Mathematical, and Natural Sciences and the Finance Department in the Robert H. Smith School of Business coordinates an annual competition intended to stimulate collaboration among undergraduate students from both programs to address the challenges of climate change. This competition recognizes the growing importance of effective partnerships in solving these major climate-related problems. To be eligible, teams must be composed of two or three current undergraduate students, with the condition that at least one team member be an science major (at AOSC) and at least one team member be a Smith School Finance major. A third team member may be a major in any other UMCP department. Coordinators of the program specifically offer to help students in each department connect to others across campus that they might not already know.

The basis for the competition is a climate finance project and a final report and oral presentation. The student teams propose a project for approval by faculty from AOSC and the Smith School Finance Department. Successful teams create a mathematical model in either Excel or Python to develop their results. The quality of the model is a critical evaluation factor in the competition along with the quality of the presentation of the results. A faculty advisor meets with participants each week for supervision and provide any required data and software.

Students who have recently completed this program have gone on to immediately join private sector companies in high-value roles such as Investment Banking Analyst at companies such as Morgan Stanley and Scotiabank.

This presentation will demonstrate UMPC’s program and then facilitate an open forum to discuss ideas for allowing students to develop a product that provides a tangible manifestation of their ability to apply their knowledge.

Professor Robert Brammer is an AMS Fellow who leads UMCP’s Undergraduate Climate Finance Project Award Competition and is also an active member of the AMS Financial Weather and Climate Risk Management Committee. Dr. Brammer is also Chair of the Cleantech and Climate Change Committee of the American Bar Association and the CEO of Brammer Technology.

Stephen Bennett is actively leading multiple efforts to prepare students for the private sector as part of the AMS Mind the Gap Committee and Financial Weather and Climate Risk Management Committee. Stephen is also Chief Climate Officer at The Demex Group and Chair of the AMS Forum on Climate Linked Economics.