Master of FinanceBentley College - Admission/Application Essay Example

Describe an experience where you were a member of a team charged with completing a project. What role did you play and what was the outcome of the projectThe greatest team project I've ever been a part of was as treasurer of my fraternity house. As treasurer, I held the 3rd highest position in our 40-member brotherhood's 10-person executive board. Our frat house was located off campus and we had $10,000 in funds from dues and assorted fundraising activities. The goals of our team were to bring the house out of debt, buy a composite, and accumulate a $1000 treasury surplus for the next board.

Working as treasurer of my fraternity was the first situation where I assumed a serious leadership position in a group. Making matters more intense, failure was not an option. Failure meant our chapter would go bankrupt and lose our fraternity house. There was no one to bail us out if we made a mess of things or mishandled funds. Not even the national fraternity headquarters would come to our rescue. When first nominated for the position, I was hesitant to accept, fearing that I would mess up or cause the loss of the house.

While running for the position, our fraternity was in debt with barely enough finances to keep and maintain our chapter house. Based on my high grades and reputation for having a talent with numbers, my fraternity brothers elected me as their treasurer. I was elected to the annual position in May of 2004. We had only a year to complete our tasks. This meant I had to sit down with the president of the house and organize an appropriate budget for the upcoming year, which began the following September.

This required us to determine how much each member of the fraternity would need to pay for their annual dues, the amount of funds that could be allocated for specific events and/or materials (recruitment, alumni weekend, formal, and the house supplies). Throughout that summer, I had conversations with fraternity members regarding due collections and available payment plans. Without this money, as well as the knowledge of when this money would be received, our house would end up in serious financial trouble.

During the semester, I attended weekly meetings with the executive board and gave updates at brotherhood meetings regarding the status of our current financial situation. I had to answer difficult questions during many of these meetings, which meant I had to have an up-to-date working knowledge of our finances. In addition to conducting meetings, I consulted with the other 9 members of the board to devise potential fundraising events that were more cost efficient. The house president and I, with the rest of the board, organized and executed a very successful fundraiser at Gillette Stadium.

One advancement I initiated as treasurer was the creation of contracts for members of our house with demonstrated financial issues. I was the first treasurer of our fraternity to create such contracts, which stated that members who neglected to fulfill their due obligations were socially suspended. This suspension prohibited them from taking part in events that were funded with house money. Another change I put into effect was the use of Excel spreadsheets to keep track of every penny coming in and out of our treasury.

With the changes I effected while treasurer, our brotherhood got out of debt, acquired funds to purchase a composite and had plenty left over for the next year's board. This year-long project was one of the most influential leadership experiences I've ever had. I learned much about communication, organization, and teamwork. Before this experience, I never thought I would have the courage or initiative to play a crucial role in a project with so much at stake. I'll forever remember this experience and the valuable lessons I walked away with.