Terrance Lillis knows about the job market in a struggling economy firsthand.

Having found employment during two different recessions, Lillis visited the UI campus to offer advice to students facing similar challenges.

“This recession is tough,” said Lillis, a UI alumnus who is now the senior vice president and chief financial officer of Principal Financial Group, a Des Moines-based company that offers financial products and services.

In a lecture directed toward the UI statistics and actuarial science department last week, he shared his background and experiences.

Originally from Williamsburg, Iowa, Lillis received a bachelor’s degree at Simpson College and a master’s in actuarial science at the UI in 1982.

After working his way up at the company, Lillis, 56, became senior vice president in May 2008 and was promoted to chief financial officer in August during the economic crisis. He is now responsible for the company’s financial integrity and reporting, external and internal reports, and financial results. He also covers investor relations, ensuring there is a solid capital.

“My timing was impeccable,” he said. “The night before the first board meeting [Lehman Brothers, a global financial services firm,] crashed.”

He then had to throw out the 10-year plan he developed and start over. He has since shifted the company’s focus to investors.

“We’ve survived the financial crisis,” Lillis said. “Now, we need to deal with the recession.”

He also provided students with information about entering the job market in an unstable economy.

UI project assistant Margaret Ebert, who attended the presentation, said Lillis made it clear students should pick up finance, technology, problem-solving, and communication skills before graduating. They should also be self-motivated and good at networking, she said.

“I was very impressed with [Lillis’] positive attitude,” she said. “He was encouraging for students.”

Lillis stressed three key traits for becoming successful in the workforce — communication, responsibility, and engagement.

Valuable employees have oral, written, and listening skills, are responsible for their own development, and are involved and express their opinions, he said.

“Do the best you can at it,” he said, “regardless of the position.”

More than 50 students attended the lecture on Sept. 18, including Tiffany Fodera, a “nontraditional” UI senior in actuarial science and president of the UI Actuarial Science Club.

She said it was particularly important to see Lillis because he is a UI alumnus.

“[Lillis] shows that you can set your goals that high and achieve them,” she said. “There are positions out there; you just need to sell yourself.”