Trainee - Asset Back Product

Trainee|London|Others

Trainee - Asset Back Product

  • London, United Kingdom
  • Trainee
  • Others

Responsibilities

Description of the Business Line or Department

Distribution & Credit Solutions (DCS) is a joint team between Global Banking and Advisory (GLBA) and Global Markets (MARK) whose ambition if to work closely with clients of the bank to support capital seekers to actively and globally reach to capital providers (bank and non-bank investors). DCS is an integrated full-service platform geared to grow GLBA credit origination and to provide investors with the full suite of our FICC services. DCS is supporting clients through unparalleled Securitized Products and Fund Financing franchises which are closely originating credit through Alternative Investment Origination in order to distribute them into the capital markets.

The DCS organization revolves around four teams:

·       Credit Advisory, Structuring & Financing: covering origination, advisory and execution of fund finance and securitization products for clients of the bank and in charge of the engineering for the bank own derisking solutions;

·       Syndication: covering both debt capital markets and liquid products (corporate IG, leverage and high yield) and structured products (fund financing and real assets) managing the bank underwriting books following the bank policy and procedure;

·       Credit Trading: covering flow, structured credit and loans with their respective financing under an unified credit trading books under MARK supervision (policy and procedure); and

·       Credit Sales: covering public credit sales, private sales in charge of banks and some institutional investors as well as asset specialists and credit-insurance under MARK supervision (policy and procedure).

Within Credit Advisory, Structuring & Financing, the European Fund Financing Solutions (FFS) team, which is split between London and Paris, provides funds, asset managers and corporate entities with asset backed solutions for financing, risk management, scarce resources consumption through the use of securitisation and market structures with a focus on:

·       Capital call / subscription line financing for private equity and debt funds;

·       Asset backed facilities for debt funds (middle-market loans, infrastructure debt funds, etc.);

·       NAV facilities on both primary and secondary funds;

·       CLO primary (CLO origination, warehouse, arrangement, placement);

·       Credit facilities, repos, letters of credit, PPF, VFN or TRS transactions, whether with ECB or private counterparties;

·       Bespoke collateralised financing solutions backed by structured financed loans (such as commercial real estate or project finance in particular);

·       Commercial mortgage-backed securities (CMBS);

·       Diversified payment rights (DPR) financings for financial institutions in emerging markets (Turkey and Brazil in particular);

·       Developing DCS’s contribution to the group’s franchise in ESG, sustainable and positive impact finance.

Summary of the key purposes of the role

With, in particular, a focus on clients covered in the UK and France:

·       The role is under supervision of a London-based senior member of the European FFS team;

·       Familiarise with FFS Products: in particular asset-backed lending facilities, NAV facilities, capital call facilities and other types of credit facilities;

·       Transaction Origination: assist more senior team members (VP, Directors) of the FFS team in the origination and the pitching process, with a strong focus on asset-backed lending (ABL) facilities for private debt funds as well as NAV facilities on both primary and secondary funds, through research, market intelligence, contribution to answers to Request for Proposals (RfP), contribution to marketing materials and follow-up of client initiatives, pitch dashboard, etc.;

·       Transaction Execution: contribute to the structuring and execution of new transactions. Perform transaction modelling (cash-flow models, rating agencies models, profitability pricing), perform data analysis (historical performance, portfolio statistics). Contribute to the credit application and other internal memorandums related to the transactions. Liaise with the various internal teams involved in the transaction execution (sales, legal, middle office, conduit, etc.);

·       Transaction Monitoring: monitor transaction performance, prepare / contribute to renewal credit application, prepare relevant transaction monitoring updates (such as Quarterly Performance Reviews, transaction dashboards, etc.);

Develop technical expertise in relation to the DCS franchise, and in particular: cash flow modelling, loss distribution and credit rating models (internal modelling, replication of rating agencies models, etc.), regulatory environment (securitization regulation and capital framework, etc), etc.

Summary of responsibilities

Contribute to the business innovation and origination, to the execution, structuring and distribution of transactions for the BL:

·       Product knowledge: get knowledge of FFS product offers, conduct market intelligence, review benchmark/comparable transactions when applicable;

·       Appropriate and run internal models in particular for internal credit rating, WAL calculation (e.g. B3S, WAL models);

·       Contribute to the due diligence: review of data packs, contribution to due diligence questionnaire, participation to due diligence calls, contribution to due diligence reports;

·       Prepare transaction documents (e.g. internal memos, working party lists, schedules, credit applications and any other memorandum required for the transaction internal approval or renewal);

·       Transaction monitoring: prepare monitoring spreadsheet for handover to middle office, monitor transaction performance, prepare renewal credit application;

·       Appropriate business line activities, internal guidelines/procedures/policies, including CORISQ guidelines, compliance policies, credit procedures;

·       Contribute to commercial pitches for UK and European clients: marketing materials, answers to Requests for Proposal providing requested data / financial elements and drafting. Performing market overview, data collecting and analysis, contribution to documents;

·       When working on securitisation executions, participate to and/or develop cash-flow and rating agencies models, and provide with portfolio analysis (stratification tables, historical performance);

·       Day-to-day relationships and coordination with internal parties (e.g. risk, legal, KYC teams, compliance, middle-office, syndicate) and external ones (e.g. clients, rating agencies, lawyers, auditors, corporate servicers/trustees or other third parties).

With a particular support to the teams based in London or in Paris covering, as the case may, UK, French and other European-based clients.

Profile required

Competencies

  Strong credit and legal background / skills;

  Structured finance / corporate finance / investment banking first experience;

  Strong quantitative skills;

  Analytical skills and ability to summarize key messages;

  Reliability and being quality-oriented;

  Strong attention to detail;

  Initiative and entrepreneurial skills;

  Cooperation and team spirit;

  Rigorous;

  Ability to work in a fast-moving environment;

  Strong written and oral communication skills;

  Word, Excel (including VBA) and PowerPoint;

  Fluent in English. Knowledge of foreign languages (French, Spanish, etc.) is a plus.

Why join us

People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.

Business insight

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Société Générale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender identity.

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 24000GG3
Entity: SG CIB
Starting date: 2024/08/26
Publication date: 2024/06/25
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