By Wallie Seto
At the University of Toronto Scarborough (UTSC), Derrick Fung was known as a bright student and a leader.
After all, he was president of the Management and Economics Students’ Association (MESA). Its events attract recruiters from the worlds of accounting, IT and finance.
It’s a world that Fung was very comfortable in: business, money and ambition.
But after graduating in December 2009, he wanted to see what the other side of life was like and joined the Clinton Foundation as an intern.
We reached him at his office in Mid-town Manhattan.
What made you decide to do an internship at the Clinton Foundation instead of going to work right after graduation?
I wanted experience working in the not-for-profit sector after having worked in a lot of banks and elsewhere in the private sector.
I learned about the Clinton Foundation through a friend who referred me to the website. What really attracted me was its global perspective as a non-governmental organization (NGO) and the opportunity to work in New York City.
What are you learning at the Clinton Foundation?
I’m with the Clinton Global Initiative learning about microfinance and how it’s changing the developing world.
Right now, we’re planning a conference for September. We’ll be bringing in leaders from all over the world to discuss global issues. Among those people are heads of states, celebrities, CEOs of various companies as well as founders and heads of not-for-profit organizations.
Last year, we had President Obama, Usher, Lloyd Blankfein of Goldman Sachs, Jamie Dimon of JP Morgan Chase, Bono and Alicia Keys.
You can find out more by going to www.clintonglobalinitiative.org.
We also have brown bag lectures, where we have different people come in to speak to us. For example, we had Doug Band, an advisor to President Clinton speak to us about his experiences with the Foundation.
We’ve also had the opportunity to attend a lot of lectures at a venue called 92Y where we heard Robert Rubin who was secretary of the treasury when President Clinton was in power. He gave us his insights on the financial crisis and opinions on when the economy was going to recover.
So I’m learning a lot through listening to a lot of people’s challenges and different problems of the world and the experiences that they faced.
What was the application process like?
It’s very similar to an MBA application process.
You need to have two reference letters, you have to answer a couple of essay questions that are on the website, you have to submit a sample of your written work, and also mention the courses that you’ve taken at school that are relevant to the position that you’re applying for.
And you have to submit your resume. There are also two rounds of interviews.
You’re competing against people coming from different backgrounds.
They look for very outstanding candidates, leaders at their school, or in their local community, so it’s a tough process.
I definitely think more Canadians should apply, and I’d love to see more Canadians work at the foundation, because it’s really a great place to work.
What are you hoping to get out of this experience?
What I really want out of this experience is exposure to things that would open up my eyes and see what’s really out there.
I’ve done a lot of internships in the private sector where it’s all driven by money. I wanted to work for an organization where it isn’t about money but something else.
People come to the Clinton Foundation to really make a difference and change the world.
It’s also been a great networking opportunity as well. Most of the people in the office are American but there are a couple of Canadians and a few are from Europe.
I’ve met people who are currently doing their masters, MBA; people who have worked in Africa as well as other parts of the not-for-profit sector and people from the private sector. For example, Robert Harrison, the CEO of the Clinton Global Initiative, had a long stint on Wall Street with Goldman Sachs.
Another thing I definitely want out of this experience is to learn about different ways to make a difference, whether it’s starting your own not-for-profit organization in Canada, or a global NGO or to work in developing countries.
What is life like in New York City?
New York City is Toronto on steroids. People in New York City walk faster and talk faster as if they always have somewhere to go. It’s an amazing place to meet really ambitious people. People in New York City are more hungry for whatever it is that drives them, whether it’s money, to make it big in the fashion world, or to make a difference in the world.
People in New York City definitely seem to be more intense than people in Toronto. And I think because a lot of organizations have their headquarters in New York City, it’s where all the big deals happen. Whether you’re working in finance, fashion or even in the NGO world, New York City is really the central hub for the flow of information, goods and resources.
So I definitely think being in New York City I’ve learned a lot about people and different cultures. I’ve been exposed to a lot of experiences in New York that I wouldn’t have in Toronto. It’s definitely a great place to be.
What are your plans when the internship ends?
After the internship is done at the end of the month, I’ll be back in Toronto where I’ll be completing my real estate license so I can practice on the side. My mom is in real estate and has her own company.
In July, I’ll be backpacking in Europe, sightseeing and learning about other cultures. I’ll be starting off in London, then to France, Netherlands, Spain, back to France and maybe to Ireland and Germany.
I start full time in August with CIBC World Markets on the trading floor.
What would you say to students who are thinking about doing volunteer work before starting their careers?
It’s definitely something everyone should consider doing, especially business students. Volunteering or working for a not-for-profit organization really gives you a different perspective on things. The biggest eye opener for me is learning about the different global challenges we face today, such as HIV/Aids, poverty, climate change, and the steps we are taking to address them.
In terms of advice, do your research and think about what issues are important to you.
Find out about the large NGOs such as the Clinton Foundation.
For people interested in finance, there are organizations like the Acumen Fund, which focuses on making socially responsible investments in developing countries.
You also have a lot of smaller NGOs, both in Canada and in the U.S.
If world hunger and poverty is important to you, doing an internship with the World Bank might be an option.
The Clinton Foundation is great. Their internships last about four months.
If you’re able to work in a developing country that’s definitely a kind of experience that’s valuable, because you see first hand the problems and hardships that people face.
For example, some people I know are going to Africa and doing some development work to help build agricultural practices, and working in the microfinance space in China and helping farmers boil money on a microcredit level. So I highly recommend students to go abroad if possible, because it develops skills and opens eyes to what is out there, and one day it will motivate people to pursue a career in public service.
