Roosevelt University’s Heller College of Business continues to assert itself as a premier destination for students seeking academic excellence and leading professional resources.
On Oct. 22, Roosevelt proudly relaunched its state-of-the-art Financial Trading Room on the 12th floor of the Wabash Building, featuring 16 Bloomberg Terminals, dual touch-screen presentation boards, sophisticated financial trading software and more. The room also boasts twin cameras that can broadcast video feeds between the Chicago and Schaumburg campuses.
Roosevelt’s trading room is in select company among business programs accredited by the Accreditation Council for Business Schools and Programs (ACBSP). Out of 1,722 schools in the U.S. and Canada that offer business degrees, just 21 percent have a financial lab. Of the 746 fully ACBSP-accredited business programs, only 45 (6 percent) have labs.
“Students learn theories, concepts and models in the classroom. But at the end of the day, the question is how they can apply them in real life and prepare for the job market,” said Asghar Sabbaghi, dean of the Heller College of Business. “In that context, experiential learning and education play a major role. This financial trading room is a wonderful opportunity for our students to reinforce that experiential learning … with access to historical data about public firms, the stock market, and real-time data about these publicly traded companies.”
Driven by its prominence among business programs, Roosevelt recently had its application for accreditation accepted by the Association to Advance Collegiate Schools of Business (AACSB), the premium accreditation body for business colleges around the world. The accreditation focuses on assurance of learning with an emphasis on innovation in teaching, student engagement and their competency, and the impact of Roosevelt’s teaching and scholarship on students’ professional lives and business practices.
“In order to make the best use of this resource, we are creating a student-managed fund, which means students would be able to manage their own portfolios with real money,” Sabbaghi said. “Our students in finance are building a governance process … and will have mentors and an advisory board consisting of finance faculty and professionals from the business community. This is a great opportunity to get into real-world financial decision-making and portfolio management.”
The ability to add Bloomberg Terminals and other technology was made possible through the generosity of the Clearing Corporation Charitable Foundation (CCCF), which donated upwards of $1.5 million toward student scholarships and college resources. Roosevelt already maintains a strong relationship with the organization through CCCF’s Fellows Program, which provides business students competitive career training and professional development.
ROOSEVELT EARNS ILLINOIS' FIRST BLOOMBERG DESIGNATION
Further raising its stock (so to speak), Roosevelt also recently became the first Bloomberg Experiential Learning Partner in Illinois. The program is designed to recognize and celebrate academic institutions that are leaders in experiential learning through the integration of Bloomberg Terminal exercises into their curricula.
“If students come here and become licensed in the Bloomberg terminals, that just makes them even more employable. It gives them an edge,” said Juliana Nelligan, assistant vice president of institutional advancement. “The students who have gone through our programs with these skills usually get jobs or internships right away. It not only enhances our students’ learning, but it’s a great recruiting tool for us.”
Rifat Gorener, chair of the Finance and Accounting Department, recently visited a local high school to talk about Roosevelt’s newest innovations in the College of Business. He returned confident that the facilities available at the University will be immensely beneficial to future recruiting efforts.
“When I mentioned our trading room and the ability to do real-time data manipulation through our student-managed funds, you should have seen [the students’] eyes. All of them were so interested,” Gorener said. “I think this is a great utility to recruit new students. Everybody knows in the industry that without understanding Bloomberg technology, you won’t be able to obtain information, analyze data and make informed decisions. Therefore, this is a must.”
In keeping with its pledge to prepare future businesspeople with character, competency and commitment, through teaching and scholarship, the College of Business continues its upward trend of success. As Gorener quite simply put it, “Our students will be ready for jobs in the real world and we will be able to attract more students to prepare a better qualified workforce in the industry.”