CIB Operations: NA Rates Summer Intern - NY

As an NA Rates summer intern your primary responsibilities include Risk and P&L production, validation, explanation and control for a variety of Derivative Products. The candidate will work closely with Traders, Marketers, Derivatives Research, Senior Management, Technology, Operations, Finance, Market Risk, Audit and Compliance, all both Domestic and International.

The focus of the Group is overwhelmingly one of Control. This is particularly important on books with different currencies, accounting methods and products.

Strong numeracy (not necessarily mathematics) is required to follow the composition of P&L and Positions, together with excellent IT skills, as this area is extremely technology intensive. Positions and p&l managed and reported within the Book include IR Delta, Vega, Gamma and FX.

In this role one should be familiar with the various methods of accounting for accrual and MTM products and the requirements necessary to achieve the accounting methods.

Responsibilities are:

Produce and explain daily P&L and Positions

Structured Trade Analysis, New product review and approval

Ensure all trades are accounted for in the correct manner

Model Review and Analysis, continuous focus on further improving levels of sophistication for Risk reporting

Adhoc scenario based reporting, as requested by Management

Productivity Tools Development & Project Management

Drive MO change Management and Technology to increase automation and controls

Required skills:

Extremely detail oriented

Self starting team player

Analytical and quantitative aptitude

Change Management: Adaptability to learn new tasks and demonstrate a willingness to understand the detail of a process.

Control focused

Understanding of the transaction flow: Ability to look at the overall process and explain it to others

Time Management: Organization and prioritization of tasks, setting own deadlines and working to defined targets

Technical skills: The daily tasks will involve using several applications as well as the standard desktop so must have an aptitude for this

Accounting knowledge: Accrual and MTM accounting methods, in particular FASB133/FASB 155 knowledge and familiarity with Total Return adjustments

Understanding of SPV's/SPE's/Hedge Funds

Understanding the Present Value, Delta, Vega and risk management processes

The specific experience necessary for this position is:

Strong derivatives knowledge is required; knowledge of securities products is a plus

Basic accounting knowledge is required

Proficiency and prior process trading, calculating, reporting, and analyzing daily Profit&Loss statement experience is required

Self-motivation and demonstration of initiative

Excellent Analytical skills

Excellent oral and written communication presentation skills

Highly organized

Extremely detailed orientated

Control orientated

Keen to question everything and understand the detail behind the numbers and/or process

BA or BS degree is necessary

Strong PC Skills: In particular Excel, Word and PowerPoint