Azizat’s Story: Finding Success With the Chicago Mercantile Exchange (CME)

Balancing various responsibilities like maintaining a stellar academic standing, contributing to campus life, completing internships, and taking action to secure post-graduate employment can prove to be a great challenge for many students. One who’s getting it all done is Azizat Balogun, a senior finance major, international business minor, and pre-law student. A familiar face within UIC Business, Azizat’s story is special in that she’s found much success with the Chicago Mercantile Exchange (CME). She recently concluded an internship at this derivatives marketplace and was also named among this year’s CME Group Foundation Scholars.

Azizat shared the story of her achievements, shouted out the professionals who helped her along the way, and provided a few tips for current students.

You are a highly decorated scholar and rising professional. Describe your journey to becoming a CME scholarship recipient and client development and sales intern.

I actually heard about the CME Group Scholarship through my advisor at my community college at the City Colleges of Chicago. She informed me that CME Group had a scholarship for finance majors who were Black or Hispanic and attended any of Chicago’s 11 partner schools. When I transferred to UIC, my honors advisor reminded me about the scholarship. That’s when I applied for it and won.

When I won the scholarship, I began to network with people at the company. It started with my finance professor, Özgür Arslan-Ayaydin, sending me an invite list to sign up for the expo. From there, I attended the FIA Futures Industry Association) Expo that took place last November. I met other people at CME Group who told me about the company’s internship program. And then as well as my connections as well that I made through networking so I was able to apply and that’s how I interviewed, and was selected for, a client development and sales internship.

Tell us about your internship experience.

In my internship, my team handled client billing and sales. They were, like, the frontline of customer interactions at CME, so they managed all global sales.

With CME Group, there are clients across different asset classes and customer segments. As an intern, I supported all of their ongoing work for those teams. I used Bloomberg a lot. Thank God for what I learned at UIC. I used Bloomberg Tableau Salesforce Excel, so I picked up a lot of technical skills that I was able to apply to my role.

I was able to assist with a client by managing their updates in Salesforce and generating options reports for targeted outreach. I also got exposure to a lot of clients’ trading strategies, various aspects of the derivatives industry, and the National Futures Association. So, I got to look at futures commission merchants and Introducing brokers. Finally, I was exposed to a wide range of businesses and different client segments at CME.

How did your internship prepare you for a career in international business law?

I’m a finance major with a minor in international business and I’m pre-law as well. So, I’m very interested in pursuing a finance experience that also gives me exposure to international business that also interacts with the legal sphere.

My internship at CME introduced me to a very specific area of finance, which is derivatives. It also introduced me to how derivatives operate globally and how the market is regulated. These experiences helped me narrow down like my interests and decide what I want to do in the future. What I’m interested in is derivatives law and exposure to international companies.

In what way(s) did your UIC Business education and campus involvement prepare you for these opportunities?

Being a UIC student, being a UIC Business student, really makes you put yourself out there and do the work. We have career fairs and all these different events that emphasize dressing up and talking to professionals. That really made me come out of my shell and be more comfortable speaking with people, sharing more about myself, and letting my interests be known. That helped me at CME.

When I started my internship, I let everyone on my team know that I was interested in FX. That is foreign currency. I let them know that I was interested in international business, and I also let them know that I was pre-law as well. Because of that experience in school of expressing my interests, I’ve been able to express my interests in the workplace. Because of that, people have spoken on my behalf or networked for me, which connects me to people who might be a good resource. That’s what I really appreciate learning from UIC Business.

Another was technical skills. Someone recommended that I get the Bloomberg certification. So, I got that by being on campus and using the CME Training Lab terminal in Douglass Hall. That also helped me with my internship. Since I received the certification from school, I was the lead on that project. That was my first project when I started at CME.

Receiving the CME scholarship also gave me exposure to people who work at the company. That’s a network that includes two scholars who were also CME interns and worked there full time. So, they were like my point people whenever I had any questions or needed advice.

Speaking of campus involvement, you are also the Director of Student and Alumni Relations for Black Students in Business (BSIB), a relatively new student organization within UIC Business. What are your responsibilities in this role and how does that improve the campus environment.

Like you said, BSIB is a fairly new organization and myself and my fellow e-board are actually the first executive board for this group. Everything that we do for BSIB, we’re doing it for the first time. So, it’s bee a learning curve. We’ve had to like step out of our comfort zones and reach out to people, plan events, and handle our classes as well. It’s really developed my management skills and time management. Being able to multitask has definitely helped me personally.

Giving back to students has also been very fulfilling. I’ve had a couple of freshmen and sophomores, who are also studying finance, always tell me that they want to do exactly what I’m doing. So, it’s nice when I meet people who are inspired by what I’m doing. It contributes to the campus experience of encouraging younger students to pursue internships and apply for scholarships.

What’s interesting is that since I joined BSIB, I suggested to someone in my cohort that they apply for the CME scholarship; and he actually got the scholarship. So that’s very, very satisfying. Michael King is a senior accounting major who also applied for and won the scholarship. I helped him review his essays. Michael won the scholarship when he attended the Market Education Day hosted by CME.

What is some advice that you would like to share with students who are excited to apply for the CME scholarship and/or apply for an internship at CME?

I like to network and ask for help a lot. That’s definitely something that really benefited me. For my scholarship essay, I had multiple people review it before I was confident enough to submit it. Always being open minded and being in the mindset of like, being humble enough to ask people for help or ask people questions can go a really long way.

Also express your interests. That’s something that was helpful for me, letting my professors know, like, Professor Arslan-Ayaydin for instance, or my professor who teaches international financial and corporate management, I let them know that I’m interested in international business and asked what kind of opportunities are in that specific field. I also asked about the kind of technical skills that are beneficial and my professors are always very willing to share any resources they have. For instance, Professor Arslan-Ayaydin invited me to the FIA Expo because she knew that was something I was interested in. The Bloomberg certification is another example. Don’t be scared to ask people for help, because what I’ve realized is that people are very happy to help in any way.

Some other advice I have is if you have any concerns, lingering questions, or even if you feel like you know something, getting feedback or an opinion can go a long way.

Now that you’ve achieved being a CME Group Foundation scholar, and a CME intern, what is next on your list of goals to embark on?

I will be graduating this fall, so I’m looking forward to securing a full-time position in the derivatives industry. That’s something I’m working on right now.

After that, I see myself working in finance for two to three years and then going to law school. I’m also studying for the LSAT right now. I plan to take the test sometime next year and have my score for whenever I’m ready to apply. What I’ve learned is that it will be a better idea to work first and gain experience before continuing my education. These things are what’s next for me.

Any general words of wisdom for your peers?

I really benefited from joining multiple student organizations. It can be overwhelming to be a part of multiple things, but I feel like it gives you a lot of exposure and you get to pick what you like specifically. Then, you get to focus on just that. If you have any interest, join the group. Then, you will find out if you’re truly interested.

Students reading this should be more involved on campus and join groups, for example, Black Students in Business.

Thank you for speaking with us, Azizat. Without a doubt, your story is a powerful one that will be a positive influence on the approach that other students take to their academic and professional journeys.