Innovation

Livello Capital Management targets the Quality Education SDG (#4) and the Decent Work and Economic Growth SDG (#8). To meet these goals, Livello focuses on improving those suffering from their distressed credit and providing a learning experience for students. Livello Capital is a busy firm, and because it is also an office with only seven employees, Philip Giordano and his team thought of bringing more people on board. Their innovative solution was to bring in interns from prestigious schools to aid the team in their credit recovery endeavors.

By doing so, Livello Capital opened a gateway for students to learn about helping banks build their way out of bankruptcy. Not only would they strengthen the skill set of the intern, but also have them work in real-life situations. From this, if the interns grow in potential, they could secure a full-time position once they finish their college education. The benefit works both ways because not only would the interns be provided with the opportunity of a full-time career, but the management company can also take advantage of fresh perspectives that can encourage economic growth.

Inspiration

Livello Capital Management was inspired to begin its innovation for many reasons. One reason was to nurture talent and give back to the community. They want to extend opportunities to aspiring students, providing them with a platform to gain practical experience and thrive in their careers. “What we want to do is, the firm is jam-packed, and we have about seven people in the firm total[…] The investment team is very tasked, so I think the plan is to bring interns to give back to the university that some employees attended. Also, we wanna allow the younger generation to learn about our business and acquire skills to see if this could fit them.”

Receiving an internship position at Livello would also set up interns for great success in the company's niche business objective. The firm is dedicated to helping distressed companies come out of bankruptcy. “What we do is very different from a lot of the other investment management firms[…] not many firms do that, and I think we offer a lot to a candidate to come in and learn our business since not many people do it.” Getting specialized knowledge from this position can be very beneficial for future employment. Companies seek candidates with specific skills and knowledge, with skills mainly learned from Lenovo, and a candidate can stick out to employers over others.

Overall impact

Livello Capital Management's introduction to its internship program is a strategic move that addresses both short-term operational needs and long-term talent cultivation. This would not only lighten the workload of its current employees but also infuse the organization with new perspectives and, in turn, give valuable experience to interns, which sets a solid foundation for their future careers. This creates a mutually beneficial relationship between the company and the universities attended by its staff members.

In the short term, the internship program alleviates Livello's workload; being a company with a small team allows them to focus more on strategic initiatives and client service. This relief further improves the efficiency and effectiveness of the operation within the organization. Over the long term, the internship program serves as a pipeline for talent, formulating interns into skilled professionals interested in the investment management industry. These interns can become potential hires for Livello or within the industry as they pursue their careers. Partnering with universities strengthens Livello's reputation as a supportive organization that attracts talent and fosters collaboration.

Evidence of the impact of this organization can be observed in various ways, such as increased productivity, obtained knowledge, employee satisfaction, and feedback from interns and universities. Further evidence could be observed by tracking the career trajectories of former interns who participated in the internship.

Business benefit

Livello Capital Management, an investment management company specializing in assisting distressed companies nearing bankruptcy, has introduced an innovative program aimed at engaging interns to acquire valuable business knowledge and experience, ultimately benefiting their future careers post-graduation. This initiative not only aids in lightening the current employees' workload, given the relatively small team at Livello, but also contributes to the business by fostering a mutually beneficial relationship with universities attended by the staff members.

By partnering with these academic institutions, the company not only gives back to the alma maters of its employees but also creates more opportunities for aspiring students. This symbiotic relationship between Livello Capital Management and the universities leads to increased productivity, as the interns bring fresh perspectives and energy to the organization while gaining hands-on exposure to the intricacies of the investment management industry. Overall, this innovative internship program serves as a strategic move that benefits the business in terms of operational efficiency and enriches the learning experiences and career prospects of the participating students.

Social and environmental benefit

By teaching and onboarding interns, Livello Capital eases the workload on its employees. It alleviates some of the work pressure caused by the abundance of tasks that need to be completed. As interns are taught business ways and gain more hands-on experience, the more reliable they become to take on more tasks. Because of this, the workload can be evenly distributed throughout a more incredible team. This can benefit society, specifically those in credit distress, such as banks, because the employees can now do the work more efficiently.

They would no longer be intimidated by the vast number of tasks and could split the work so that one person could focus on however much they could handle. This means each employee can become more skilled and proficient in their tasks. Not only would they be able to help more people, but they would also be able to achieve a greater success rate with their credit recovery initiatives.

Interview

Joseph Salegna, Chief Financial Office

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