ONWARD Q&A SENIOR SPOTLIGHT: An interview with Tao, Gridley, Noriega
MINOT, N.D. – Three Minot State University seniors majoring in finance, Stephen Tao (double majoring in data science), Jackson Gridley, and Jonathan Noriega, are closing out their undergraduate careers on a high note, taking first place at the North Central Chapter of the Risk Management Association (RMA) Credit Analysis Competition held April 14 in Fargo.
The team outperformed peers from several regional universities, including the University of North Dakota, North Dakota State University, Minnesota State University Moorhead, and the University of Minnesota. This international collegiate competition challenges students to analyze a small business loan request and recommend a financing structure — a task that blends real-world knowledge in finance, banking, commercial lending, and business management.
The Minot State team was mentored by Grant Wentz, market president of Cornerstone Bank in Minot, and advised by MSU Assistant Professor of Finance, David Frantsvog ’04/’07. A clear reflection of the academic quality and hands-on learning experiences that prepare Minot State students to excel beyond the classroom.
Despite their busy schedules filled with studying, finals, and graduation, the three seniors met with University Communications to share their competition win, their experience at Minot State, what awaits them after graduation, and their advice for future finance students.
Can you tell us a little about yourself — where you’re from, what brought you to MSU, why you chose to major in finance, and what your plans are after graduation?
JN: My hometown is Yuma, Arizona, located in southwest Arizona. I came to Minot State to continue my athletic career, but seeing how tight the college community was played a big factor in my decision. I chose to major in finance as it is a very versatile business skill, and as an aspiring entrepreneur, I’m gaining the necessary foundation in financial literacy that I will one day be able to apply in my professional career. After graduation, I plan on coming back to Minot State to pursue my Master of Science in Management (MSM) degree while continuing my football career.
ST: I grew up in Rome, Italy, with Chinese parents, so an interesting fact about me is that I can speak both Italian and Mandarin as well as English. I chose Minot State mainly because it offers in-state tuition rates for everyone, makes college affordable, and people here are genuinely kind and friendly. Small community and classes mean I get to know my professors and classmates. I’m double majoring in finance and data science because I enjoy using data to guide investment decisions, as well as the stock market. After graduation, I plan to pursue a master’s in data science.
JG: I’m from Aurora, Colorado, and I originally came to Minot State to play college football, as that was one of my goals when I was in high school. I chose to major in finance because it is a field that I have always found interesting, and the opportunities it can create in life are very broad, so I thought it would help me get a position somewhere after college. My plans after graduation are to move to Phoenix, Arizona, and continue my education at Arizona State University, working towards a master's degree in finance and hopefully study for and pass the CFA exam after that.
What was the most challenging part of preparing for the competition?
ST: The most challenging part was working with numbers, especially building and stress testing our cash flow table. We spent days tweaking assumptions to hit the right Service Coverage Ratio (DSCR). Thankfully, our mentor, Mr. Grant Wentz from the Cornerstone Bank, guided us and answered all our questions. We believe that without his mentor, the first place would not have been possible, so we all truly appreciate him!
How did working with your mentors/advisors shape your experience?
JN: Working with our mentor, Grant Wentz from Cornerstone Bank, was very meaningful! He provided us with the necessary knowledge in areas we had never been exposed to before. The way he asked us questions and made us process what we were doing to understand the task being accomplished was extremely resourceful. He ensured we weren’t just filling out a credit presentation; he really made us understand each specific step to the process and would give us examples of real-world scenarios. The long hours he dedicated to us is something that undoubtedly shaped the knowledge gained from this experience.
How do you think your coursework at Minot State helped prepare you for the competition?
JG: The finance coursework at Minot State has covered a myriad of industries, from banking to investments and insurance, and the courses I have taken have given me a better understanding of how financial institutions operate, what their goals are, and how they go about turning profits. This helped me gather a background for the competition, understanding why banks make loans and how they do it. Professor Jerry Stai's classes have been a major component for why I chose to compete in the RMA competition.
Can you share a key takeaway or lesson you learned from participating in the credit analysis competition?
ST: I’m grateful for teammates like Jackson and Jonathan, who stayed fully committed and focused from day one. We built trust fast. I personally learned a lot about how to analyze a business and what factors to consider when making a loan. I also learned that good leadership matters, digging into a company’s management and their track record is just as important as the numbers on the table.
How did you feel when you found out you placed first against such tough competition?
JG: When the results were announced, I was excited to have won with Stephen and Jonathan, and it felt great that all of our hard work paid off. We learned so many things about the industry from our competition mentor, Grant Wentz, and I was proud to have been a part of putting them to good use.
What advice would you give to students who participate in the same competition?
ST: Don’t wait, start the moment you can. Three weeks flies by. Begin with your cash‐flow table and decide on collateral and discount rates first. Once those are set, everything else falls into place more easily.
What has been your favorite Minot State memory?
JN: My favorite memory here at Minot State was undoubtedly taking first place at the RMA credit competition. The long hours we put in to accomplish this goal were well worth it and an unforgettable experience. The journey and exposure to this professional learning environment will be something I always look back on with a smile on my face.
What will you miss the most about Minot State?
JG: I will miss the daily talks with my professors as well as my teammates on the football team the most. Minot has helped me grow in a lot of ways, and the people who have helped me along the way will always be close to me, and I can't thank them enough.
Any advice for other finance majors?
JN: My advice to other finance majors would be to go out and get more involved with your program, be ok with getting out of your comfort zone. You only learn so much in the classroom, but expanding this experience to real-world situations, competitions, and events will only help you grow as a student and future professional.
JG: Work hard, take the time to enjoy all of the opportunities outside of the classroom as well. Ask your professors not just about coursework, but about your industry too, and they have so many lessons to help you, it will be well worth the time. Enjoy the process because it goes by quick!
ST: Develop a real interest in the markets by investing, even small amounts, so real money is on the line, and you truly care. You’ll see how classroom lessons work in practice. I also highly recommend joining the Finance Club with Professor Jerry Stai — his 25 years in banking bring theory to life. You’ll learn to make real investment decisions and manage a $250,000+ portfolio. Practical experience sticks with you far more than memorizing formulas.
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Published: 05/16/25
