Charting a unique journey: Sofiya Shmyhlyk ’24 (MS) ’s Path to Sustainable Finance
From Ukraine to Canada to Rochester to Europe and back to Rochester again, Sofiya Shmyhlyk ’24 (MS) describes her career path as "non-traditional," each experience building on the last to create a strong foundation for her work in ESG and sustainable finance.
It all started with her deep interest in global affairs. While studying as an undergrad, she became fascinated by how international policies intersect with different fields, including finance. This curiosity eventually led her to a leading corporate governance and ESG firm, where she uncovered the unique link between global governance and financial strategy.
That experience strengthened her passion for sustainable finance. It inspired her to delve deeper into finance coursework at Simon, where she aimed to merge her interests with the technical expertise needed to make a meaningful impact in the industry.
Shmyhlyk’s journey demonstrates how blending international studies with corporate governance can pave the way to success in sustainable finance, illustrating that combining global policy insights with financial strategy can be a significant advantage.
Early Education and CareerShmyhlyk’s trajectory started at Pearson College United World College (UWC) in British Columbia, Canada, where she received the only full scholarship assigned by the Ukrainian National Committee for Pearson College UWC and one of only seven scholarships available to UWC in the world overall. | 
"I really enjoyed my work,” Shmyhlyk said. “It was a unique intersection of international governance, impact, and finance.” It was this realization that sparked her desire to dive deeper into finance and gain the technical skills needed to make a broader impact—leading her to Simon.Sofiya Shmyhlyk ’24 (MS) |
At ISS, Shmyhlyk first became intrigued by the intersection of international governance and finance. Working within the growing field of ESG ratings, she was drawn to financial instruments and corporate governance decisions.
"I really enjoyed my work,” Shmyhlyk said. “It was a unique intersection of international governance, impact, and finance.” It was this realization that sparked her desire to dive deeper into finance and gain the technical skills needed to make a broader impact—leading her to Simon.
Shift to Finance
Shmyhlk’s work at ISS opened her eyes to financial decisions in global governance, and she realized that her passion for sustainability and governance could be even more effectively channeled with a solid grounding in finance.
This prompted her to pursue further education, seeking a program that could offer her the technical financial skills and a platform to apply them to her areas of interest.
Her experiences and connections influenced Shmyhlyk's decision to pursue her graduate studies at Simon. A significant factor was her fiancé, Raymond Russell ’19S (MBA), whose transformative experience at Simon left a lasting impression on her. His positive feedback about Simon’s impact on his career played a crucial role in her choice. But she already had many positive experiences in Rochester to build upon.
“I love the community. I knew that if I returned to my alma mater in this more advanced capacity, I would have great connections there,” she said. “Even though it may sound cliché, I've always felt that people there really believed in my dreams and supported me.” Having received scholarships and encouragement during her undergraduate years, she felt a strong sense of loyalty and appreciation for the institution. Feeling confident that Simon would be a good fit, Shmyhlyk chose to apply exclusively to Simon Business School. Her commitment was clear, "It was either Simon or nothing."
Her decision was ultimately validated when she was accepted, and she reflects positively on the alignment between her goals and the opportunities Simon provides.
“There was never any question,” she said. “I knew Simon was where I wanted to be.”
Networking for Success
Sofiya Shmyhlyk’s journey to securing her internship at Morgan Stanley involved proactive networking and strategic opportunities. Her initial step was leveraging her connections at Simon and the broader University of Rochester network. “Before even starting at Simon, I began reaching out to Simon alumni who were already bankers on Wall Street or who were graduating and had already secured an offer after graduation,” she said. “This was a great first step to just generally understand the industry and preparation for Wall Street in general.”
In the fall, Shmyhlyk attended the National Black MBA Conference in Philadelphia, which was pivotal in her internship search. “Although it’s more common for MBA students to attend, I’ve seen people with various degrees at the conference,” she said. “I found it to be an excellent opportunity to connect with professionals from Morgan Stanley and other firms. “Meeting people in person and sharing my resume allowed me to get a feel for the company culture and establish valuable connections, even though it didn’t immediately lead to an interview.” Her networking efforts paid off when she later saw a posting for the Morgan Stanley internship program. She applied through the company’s website, which led to an invitation for an interview.
Attending the conference and engaging with alumni and professionals before starting her studies at Simon gave Shmyhlyk a head start and a deeper understanding of the finance industry, setting the stage for her successful internship application.
“Having those in-person conversations at the conference, in my opinion, cannot be replaced by anything else,” Shmyhlyk said. “The process involved multiple rounds of interviews, and ultimately, I received an offer.”
Sustainable Investing at Morgan Stanley
As a summer associate in Morgan Stanley’s Investment Management Division and a sustainable investing fellow, Shmyhlyk was at the forefront of integrating sustainability into finance.
One of her internship’s highlights was the opportunity to work on an innovative project with Morgan Stanley’s fixed-income team. Shmyhlyk contributed to the development of an investing tool aimed at enhancing reporting on green bonds and ESG-labeled debt. This tool provides portfolio managers with more precise insights into their investments' sustainability performance, ensuring that Morgan Stanley continues to meet its ESG commitments.
“I’ve been able to marry my background in finance and sustainability through this project,” Shmyhlyk shares. “It’s exciting to contribute to something tangible that will help drive ESG-focused investment strategies across the firm.”
Bringing Policy to Finance
Shmyhlyk’s background in international policy and governance informed her approach to sustainable investing at Morgan Stanly in profound ways. Having worked at ISS before pursuing her master’s degree, she developed a deep understanding of the intersection between policy, governance, and finance.
“I think my experience in international governance gives me a unique perspective on ESG,” she says. “I see it as a natural extension of my work at ISS—where we focused on corporate governance strategies for asset managers—now applied to financial instruments like green bonds. It’s about ensuring that investments align with financial goals and long-term sustainability.”
Shmyhlyk’s ability to connect policy, governance, and finance proved incredibly valuable during her internship at Morgan Stanley. Her holistic understanding of ESG’s role in the global financial system positioned her to contribute meaningfully to the firm’s sustainable investing efforts while exploring new paths for sustainable finance.
Simon’s Influence and Future Goals
Simon prepared Shmyhlyk for her role at Morgan Stanley in many ways. The coursework gave her an in-depth understanding of various financial instruments and how they are used. Another key component of her preparation was her consultation with Professor Pavel Zryumov. Despite green bonds being a niche area not extensively covered in the general finance curriculum, Professor Zryumov’s expertise gave Shmyhlyk with critical insights.
“I reached out to Professor Zryumov for a discussion on green bonds, which was incredibly beneficial,” Shmyhlyk said. “His guidance helped me deepen my understanding of this specific type of bond, which was not covered in the standard coursework but was definitely something that we talked about during my interview.”
Shmyhlyk’s internship at Morgan Stanley has been a pivotal experience in both affirming her career aspirations and expanding her vision for the future. While it has solidified her passion for sustainable finance, it has also opened her eyes to the diverse opportunities within the field that she had not previously considered.
“This role has allowed me to dive into an area I’ve always been passionate about and see firsthand what it looks like in practice,” she said.
Working closely with her team on specific projects, Shmyhlyk has had the opportunity to connect with sustainability experts across various departments within the firm.
“I’ve interacted with professionals from different areas—investment banking, trading sustainability-related commodities, and internal finance working on climate strategy,” she said. “Meeting these experts has shown me the diverse paths within sustainable finance that I hadn’t considered before.
Advice and Conclusion
Sofiya Shmyhlyk offers valuable advice for Simon students navigating the finance industry internship search. “Start early,” she stresses. “Even if you're unsure about your specific interests, initiating conversations and networking early on will be more beneficial than extensive research alone. Connecting with professionals before diving into coursework will give you a head start.”
For international students and those new to business school, Shmyhlyk acknowledges the overwhelming nature of balancing coursework with internship searches. “I understand it can be daunting, but early summer, July, or even earlier is a great time for reflections and conversations,” she said. “The coursework load tends to increase, so leveraging the lighter early months can be crucial.”
She advises students to reach out and express their desire to learn from industry professionals. “People appreciate genuine curiosity and are often more willing to help early in your career journey rather than when you're in a more urgent position to secure a job,” she explains.
Shmyhlyk also highlights the exceptional education Simon offers. “Simon’s world-class instruction is something not to be taken for granted,” she emphasizes. “The education here prepares you well for various paths, including Wall Street. Speak confidently about your preparation and skills; if you believe in your fit for a role, you’re more likely to convince others.”
Lastly, reflecting on her own experience, Shmyhlyk said, “Simon provides a strong foundation, but the industry itself is dynamic and driven by client demands and market changes. Understanding that there are many roles within finance beyond the obvious ones can enhance your approach and flexibility in the field.”