Trainee - Asset Backed Product

Trainee|London|Others

Trainee - Asset Backed Product

  • London, United Kingdom
  • Trainee
  • Others

Responsibilities

Description of the Business Line or Department

The Asset Backed Product (ABP) division is a fully integrated joint-venture between GLFI and MARK. ABP is the centre of expertise and single entry-point for engineering, distribution and trading of ABS type securitised products, trade receivables and structured loans. ABP's activity is exclusively focused on clients (Corporates, financial institutions, insurance companies and investors in a wide sense, such as private equity, fund managers, specialised funds, hedge funds).

While linking issuers and investors, ABP also enables SG to ensure there is a fully consistent and consolidated credit and market risk approach across all segments in this context and enables to optimize the use of scarce resources.

Within the Asset Backed Product platform, the Financial Institutions Structuring group is providing financial institutions, funds, asset managers and corporate siblings (such as auto-captives) with asset backed solutions for financing, risk management, scarce resources consumption through the use of securitisation and market techniques with a focus on:

-          Securitisation transactions such ABS, RMBS, publicly or privately placed,

-          Principal finance solutions through balance sheet or ABCP conduit Antalis

-          Funding transactions secured by securitisation or market loans (leveraged loans, MML...),

-          Repo or TRS transactions, whether with ECB or private counterparties,

-          Risk transfer through synthetic risk transfer, full capital structures or any other relevant format,

-          Repackaging and distribution solutions for non-financial institutions investors

In addition, the group is providing engineering capabilities to the public and market engineering and trading platform of ABP, providing collateral analysis support (structure and performance review)

Summary of the key purposes of the role

With, in particular, a focus to the clients covered in the UK (UK, Spanish or Dutch clients) or from Germany:

A.     Transaction origination: assist more senior team members (VP, Directors) in the origination and the pitching process through research, market intelligence, contribution to answers to Request For Proposals, contribution to Marketing Materials and follow-up of client initiatives, pitch dashboard, etc...

B.     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 credit application and other internal memorandum related to the transaction. Liaise with the various teams involved in the transaction execution (sales, legal, middle office, conduit, etc.)

C.    Transaction monitoring: monitor transaction performance, prepare / contribute to renewal credit application, prepare relevant transaction monitoring updates (such as QPR, UK transaction dashboard…)

D.    Develop technical expertise in relation to the ABP franchise, and in particular) cash flow modeling, loss distribution and credit rating models (internal modeling such as B3S, replication of rating agencies models, etc), regulatory environment (securitization regulation and capital framework, etc)

Summary of responsibilities

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

·       Product knowledge: get knowledge of ABP 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 on site visit, contribution to due diligence report

·       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 BL 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 datas / financial elements and drafting. Doing market overview, data collecting and analysis, contribution to documents

·       When working on securitisation execution, 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 Frankfurt covering, as the case may, UK, Spanish, Dutch or German clients

Profile required

Competencies

Technical:

·       Ability to gather an understanding of capital markets, their dynamics and the related instruments, including credit (cash and derivatives) to propose relevant capital markets solutions, with a particular focus on ABP products, markets, and regulations

·       Gather quantitative expertise: data analysis, cash-flow modelling, tranching modelling by developing expertise on the related models (underlying assumptions, tools, outcome anticipation...)

·       Provide analytical and computer skills (Excel, Bloomberg, in particular)

·       Ability to search adequate information on various information channels about clients, markets or topics, and deliver concise and clear memos

·       Capacity to generate consistent pitch material that is clear, structured, compelling, and comprehensive in addressing clients’ needs

·       Responsibility – ability to understand risks (conduct, reputational, financial, etc.) for ABP, GLFI, and SG Group, and ability to act responsibly in line with SG Group Values, Code of Conduct, and other applicable rules & regulations

Behavioural:

·       Client orientation – ability to contribute to the team’s efforts in building and maintaining trusted client relationships

·       Client orientation – consistency and rigour in following up on clients’ needs and act upon team’s priorities

·       Client orientation – demonstrate initiative and team collaboration to develop business adapted to clients’ and markets’ needs

·       Innovation – commitment to contribute to the team’s efforts in the development of new client base, advisory, and products

·       Team spirit – ability to work with people with diverse, international backgrounds, anticipate needs and act upon team’s priorities

·       Commitment – ability to prioritise tasks and to manage competing deadlines, and to deliver on team’s priorities

·       Communication skills – including language skills (as relevant)

Educational:

·       The ideal candidate will hold a degree or equivalent in Business/Finance or a Science-related subject at minimum 2:1

·       Excellent level of written and spoken English essential; fluency in French / Spanish is a plus

·       Knowledge of securitisation gained through an internship or similar is advantageous

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: 24000HYW
Entity: SG CIB
Starting date: 2024/09/30
Publication date: 2024/07/04
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