The career-defining moment for Mark Schmid '81, happened when he became the treasurer at Chrysler Canada and an officer of the Canadian subsidiary for the automaker. He managed 46 treasury professionals and commuted everyday through the tunnel from Detroit to Canada.

Mark Schmid '81

"That was when I learned how to be a leader," says Schmid. "I also began my investment career by managing $3 billion in Canadian pension assets."

Getting to this point began by enrolling in UDM upon graduating from Warren Mott High School in Warren, Mich. Schmid recalls admiring the success of a close family member who attended the University, so with his mind set on becoming a certified public accountant, he earned his B.S. in Accounting from the College of Business Administration at UDM.

"I always knew I wanted to be a CPA; I wanted to start right out of the gate," says Schmid.  "I knew I could take the business courses I needed right from the beginning at UDM."

Schmid took 10 accounting classes and says he valued the guidance of his professors, especially Charlton Schoeffler and Robert Redlin. To make the most of his educational experience, he entered the internship program where he worked part time for one year at the accounting firm of Seidman and Seidman, now BDO Seidman, LLP. Schmid passed the CPA exam within six months of graduation and landed his first public accounting position as an auditor with KPMG within a few weeks of graduation.

"Accounting gives you really good knowledge of financial reporting and a good basis for how businesses work," says Schmid.  "A good foundation allows you to do a better job of financial planning and forecasting."

After five years with KPMG, Schmid received a job offer from Chrysler Corporation at age 26. It evolved into 17 years of service and 11 different positions in the accounting, finance and treasury departments, eventually leading to the post of chief investment officer. This period in his life would prove to be productive, rewarding and life changing.

"To be successful, you have to have a continuous interest in learning. Don't hold back. Don't say no to branching out and learning new things," says Schmid. "The most important thing is a positive attitude and be willing to take new positions even if it is not a promotion."

Schmid traded in his Chrysler job for a new one in the transportation industry only this time with airplanes.  The Boeing Company sought his expertise and hired him as its vice president and chief information officer in 2003. Taking this position meant a move for his family– Cathy, whom he met at a fraternity party when she was a coed at Mercy College, and five kids – to Chicago, the headquarters for Boeing. 

Schmid says the family transitioned nicely to the Windy City so the decision to accept a position this July as the vice president and chief investment officer for the University of Chicago was easy for him. Schmid and a staff of 21, are responsible for managing the university's $5 billion endowment fund. 

"I definitely found something I'm passionate about. It's ever changing. It's global," says Schmid. "The University of Chicago's Investment Office is a respected leader in the endowment space. I have an excellent opportunity to make a very good process here even better."

These days, Schmid finds the transition from airplanes to academia welcoming.  He prefers to start his day early with a commute to his office on Michigan Avenue so that he can balance family life as well. With five children ranging in age from 15-25, having a dad like Schmid around can make crunching numbers at homework time a lesson in itself.  Already, his oldest son is following in his dad's footsteps -- he's a CPA at a large firm in Chicago.