One week training and two rotations lasting 4 weeks each, alongside HR organised events. The training consisted of learning about different business areas of the bank. Daily tasks are dependent on your rotation. Tasks in credit structuring ABS and direct lending include: writing morning meetings, creating presentation slides for internal use, creating summaries on term sheets, presenting financing solutions, analysing business models, creating excel models - eg. waterfall model, DCF, LBOs, learning about regulation and finance metrics. Expected to network throughout our time in the bank. HR final presentation to a panel of seniors.
Internal training for the first week - learned about the bank's history and functions and skills required for the business areas they provide. Sat in client meetings and internal meetings to pick up interpersonal and professional skills. On the rotations, observed how desks are linked and their interactions. Learned accounting: three financial statements. Regulation: RWA, SA etc. Excel skills: navigating excel and financial modelling. Different types of ABS. Different types of lending, and the stages of direct lending. Cultivated a more entrepreneurial mindset - due diligence in businesses and asking questions to management.
Morning meeting notes to summarise the current pipeline and filling people in who were unable to attend the meeting. Opinions on business areas were valuable to the team to decide if a business was worth investing in. Market research on industries nationally and internationally. Data cleansing and interpreting data was useful. Creating summaries of transactions were useful internally. Created the global credit trading transaction summary, speaking to different desks about the size, type and region of each deal.
Line manager was updated weekly. Wider team were aware of what I was doing and giving me tasks based on my workload. Buddy was in different team, but we were able to speak at the beginning. I also had a programme champion who kindly explained to me her role. Accessibility of support varied with teams. One team were incredibly useful, scheduling calls whenever I had a problem. The other kept help limited as the analyst wanted me to learn independently.
Supportive culture. No social events due to COVID-19. Therefore, we did not have any activities such as charity, sustainability or voluntary events.
Very well organised event, and encouraged us to speak to as many people as possible.
Be yourself! Everyone is super friendly and are willing to support someone with integrity and a willingness to learn.
Internship (1-4 Months)
Banking - Investment
Central London and City