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Luke Neal, the 2025 Recipient of the Ivan and Mary Novick Award for Young Alumni Leadership

Luke Neal is a 2013 Magna Cum Laude Pitt grad earning a Bachelor of Science in Economics and Statistics. While at Pitt, he interned at UPMC as a Research Statistician; a Teaching Assistant for Honors Macroeconomics, and a Research Assistant in the Political Science Department. After he graduated, he worked as a Risk Analyst at Radian and a Financial Statistics Analyst with the Federal Reserve System. He currently serves in the U.S. Army and has had many high-ranking positions, including being Civil Affairs Team Chief in Bulgaria! He also currently works for the Federal Reserve Bank of New York as a Capital Markets Credit Risk Specialist Supervising Examiner. Luke continued his education at The John Hopkins University receiving a master’s degree in applied economics with a concentration in financial economics in 2020. In addition to Luke being a Certified Financial Risk Manager (FRM), he is also a certified Chartered Financial Analyst (CFA). Luke is also the recipient of the Ivan and Mary Novick Award for Young Alumni Leadership. Read more about Luke’s background, education, and experience below:

 

Q. How did you decide on the University of Pittsburgh and your majors in Economics and Statistics? Did you have any favorite classes in Economics?

I chose the University of Pittsburgh primarily due to its excellent academic reputation and location. I entered as an undecided major but quickly gravitated toward Economics. When I learned about the Economics-Statistics Joint major, I switched to that program. Overall, the additional statistical background provided by that program on top of what I learned in my economics courses has significantly enhanced my career capabilities.

Among my many excellent courses, two stand out as favorites. I found "The Intellectual Foundations of Capitalism" fascinating and really enjoyed the opportunity to read works progressing through time from Adam Smith to Milton Friedman. Equally compelling for me was "The West and the World," which explored theories about the causes of the rise of the West and complemented my economics studies. Finally, I want to give a big shout out to Professor Malloy, who taught my Intermediate Macroeconomics course. I really enjoyed his course, teaching style, and how he approached teaching Intermediate Macroeconomics. He was overall my favorite instructor throughout my studies. 

 

Q. How has your undergraduate degree helped prepare you for your career? What skills did you learn that you still use in your career? 

My economics and statistics education has been fundamental to my career success. The statistical coding languages I learned have been essential in my work and played a critical role in securing several positions. More broadly, my economics degree developed my ability to evaluate economic and financial arguments and understand associated risks, both crucial skills in my role as a Bank Examiner.

 

Q. You have worked in the U.S. Army for many years while maintaining a full-time role. How have you balanced all of this while dealing with competing priorities?

Not easily. Beyond balancing full-time work and military service, I've earned a master's in economics, obtained my Financial Risk Manager Certification, and completed my CFA charter. I think it’s also worth noting here that I also graduated from Pitt in three years while working part time, interning, and serving as a teaching assistant, as mentioned in the intro above.

Overall, good time management and prioritization is important. However, I also firmly believe that there are many hours in the day, and the limiting factor to accomplishing more is willpower and willingness rather than a particular system for accomplishing tasks. Generally, I try to say yes to every good opportunity I encounter and work around accomplishing them all rather than being overly selective with my time. Not mentioned here are numerous projects, volunteer activities, and minor accomplishments that weren't necessarily "worth" the time I invested.

 

Q. You have now had multiple roles in bank supervision in the Federal Reserve System. Any tips for Pitt students who want to go into this field? What helped you determine you wanted to go in this area and then getting certifications to add to your skillset? What tips do you have for Economics majors today?

I had been interested in working at the Federal Reserve since high school so when I got an offer from the Board of Governors, it was a dream come true for me. Luckily, I would go on to really enjoy my career at the Fed. My current role resembles an analyst at a credit rating company as I am responsible for assigning banks ratings from 1-5 based on the quality of banks’ portfolios and their risk management programs. For roles like this, I would recommend economics students try to take at least one pure finance class. While an economics degree provides excellent quantitative and qualitative preparation, often superior to finance degrees in many respects, finance and banking involve specific concepts and terminology that might not appear in economics coursework alone. Students could also consider studying for the CFA Level 1, which signals to employers that you possess both economics knowledge and fluency in standard financial analysis.

 

Q. What was a favorite memory from your days at Pitt? 

I had a great time at Pitt, so it’s hard to choose just one. I think my favorite memories though are the runs that I would do with my housemates all through Schenley Park. My closest friends and I all rented a house on Chesterfield together in my final year at school and we would regularly go on runs together when the weather was nice; you’d be surprised at the nooks and crannies in that park! 

 

Q. As a recent recipient of the Ivan and Mary Novick Young Alumni Leadership Award and a recognized Pitt alum with strong leadership in so much of what you have done, what has this award meant for you? 

It was such an honor to receive this award, especially after taking the time to read through prior winners and seeing their accomplishments. I am also really looking forward to the opportunity to go back to Pittsburgh and see my old campus and meet up with old friends for the award ceremony. Finally, between this interview and another that I have done for the ceremony, I’ve appreciated the time to reflect on my undergraduate experience and just how great of a foundation Pitt gave me to go on and accomplish what I have.

 

Q. Anything else you’d like to share?

When I graduated from Pitt in 2013, everyone was extremely stressed about finding work - the unemployment rate was almost double what it is now as we were still only just emerging from the Great Recession. Abroad, the wars in Iraq and Afghanistan were ongoing. Despite these concerns, I both deliberately graduated a year early and joined the Army as a Military Police Officer. Twelve years later and outcomes have been good for me and my friends despite all those issues going on at the time. Overall, I encourage people to try and not get caught up too much in the latest crisis; instead, just focus on what you can control in the real world.