Global Markets Summer Analyst, Origination
Wilmington, DE
WHAT IS THE OPPORTUNITY?
RBC Capital Markets is a premier investment bank that provides a focused set of products and services to corporations, institutional investors, and governments around the world. With more than 7,100 professionals, we operate out of 70 offices in 15 countries across North America, the U.K., Europe, and the Asia-Pacific region.
We work with clients in over 100 countries around the globe to deliver the expertise and execution required to raise capital, access markets, mitigate risk, and acquire or dispose of assets. According to Bloomberg and Dealogic, we are consistently ranked among the largest global investment banks.
RBC Capital Markets is part of a leading provider of financial services, Royal Bank of Canada (RBC). Operating since 1869, RBC is one of the top 15 largest banks in the world and the fifth largest in North America, as measured by market capitalization. With a strong capital base and consistent financial performance, RBC is among a small group of highly rated global banks.
Origination Summer Program
Operating within Origination, Conduit Finance is a global business within RBC Capital Markets that provides underwriting, asset securitizing, liability management, and ABCP issuance execution to help our clients successfully raise funding within the financial markets. The group works closely with our investment banking, derivatives platform, equity capital markets, and sales and trading groups globally to advise and achieve optimal execution across the capital structure of our clients.
Conduit Finance offers internship opportunities for energetic, bright, and talented undergraduates. Our Summer Analyst Program extends for 10 weeks and provides interns the opportunity to gain in-depth, hands-on experience while working and learning alongside our experienced market professionals.
In evaluating and selecting intern candidates, we look for well-rounded individuals with a track record of outstanding academic achievement, attention to detail, ability to thrive in a multi-tasking and detail-oriented environment, proven technical and analytical skills, and a diversity of extracurricular activities. Other essential qualities we look for include strong oral and written communication skills, leadership qualities, initiative, and the ability to play a key role as a team member in a fast-paced and challenging work environment.
WHAT WILL YOU DO?
Our summer analysts help develop ideas and market insights to support various levels of the Conduit Finance team with a focus on working with the Conduit Funding team to support ABCP issuance and trading across RBC's global issuance platform. Being a junior trading analyst within Conduit Finance is unique as you will be exposed to various structuring and issuance of various short-term ABCP structures in both the US and Canadian money markets.
- Securitization (Conduit Finance) is a top-3 originator across the industry and offers attractive financing alternatives for companies that have current funding and liquidity needs. We work with clients to identify and convert future income streams - such as auto receivables, student loans, and credit card receivables - into tradeable securities. We have extensive experience covering a wide range of traditional and non-traditional assets, as well as delivering innovative solutions and proprietary analytics. RBC's Conduit Funding team oversees the funding of client transactions via ABCP issuance. Our conduit programs are largely viewed across the investor base as a flight to quality and a top-tier issuer within the market.
As a Conduit Finance Summer Analyst you will spend your time:
- Role will have exposure to both our ABCP trading and asset origination sides of the business, working on both structuring projects as well as daily funding/trading activities.
- Working as a junior trader to support the daily ABCP issuance and funding for RBC's 6 multi-seller conduit programs.
- Assist with the daily issuance, pricing of CP, and liability management guidelines.
- Preparing term sheets and pricing supplements for structured CP note issuance.
- Creating marketing pitch books for both origination clients and ABCP investors.
- Conducting and presenting research to identify market trends on asset classes and peer issuers used in business decisions.
- Supporting with funding and structuring live client securitization transactions.
- Working closely with senior bankers and traders to better understand the business we do.
WHAT DO YOU NEED TO SUCCEED?
Must-Have:
- Top grades in a four-year US college or university program (rising Junior or Senior status).
- Basic market knowledge and a demonstrated keen interest in capital markets.
- Strong quantitative, analytical, and communication skills.
- Extremely motivated and able to take initiative in order to identify ways to add value and improve practices.
- Problem-solving skills, business sense, and the ability to multi-task & prioritize in high-pressure environments.
- Positive attitude with a willingness to perform beyond what is being asked.
- Proficient with the use of Microsoft Word, Excel, PowerPoint, and Outlook.
Nice to Have:
- Basic understanding of financial mathematics and concepts.
- Technical knowledge of programming/coding languages.
- Knowledge of accounting and ability to interpret financial statements.
- Familiarity with Bloomberg.
WHAT'S IN IT FOR YOU?
We thrive on the challenge to be our best in a team-oriented, creative environment to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
From this experience you would gain:
- Direct exposure and hands-on experience including opportunities to do challenging work.
- Ability to make a difference and lasting impact.
- Opportunity to connect with different desks across our Global Markets businesses, and RBC as a whole.
- Ability to work in a dynamic, collaborative, progressive, and high-performing team.
- Training including orientation sessions as well as an in-class curriculum and regular information sessions with key business leaders.
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