Trainee - Asset Back Product

2 weeks ago

London, United Kingdom Société Générale Full time

**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:

- 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...
- 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 BL:

- 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
- 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, co

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