Summer Intern - Finance

ICBC Standard Bank Plc

Jan 23, 2024

Applications are closed

Internship
Full-time
Starts on Jun 16
Summer Internship
Banking & Finance
London

Requirements

Experience/knowledge required:
Basic financial instrument knowledge would be beneficial,
Microsoft Office application knowledge (Excel, PowerPoint, Access) would be beneficial
Qualifications:
Currently studying towards a degree or equivalent in their penultimate or final year

Responsibilities

We have nine opportunities across the four areas below, and you will be asked to specify your preferred area in the application form
The Product Control Team:
Acts as an independent control department to help ensure the integrity of the Bank's financial statements through:
Preparation and Independent verification of the daily and monthly Profit and loss account
Balance sheet reconciliation and substantiation
Valuation testing of the Bank's positions
Preparation and development of Management Information (MI)
At its core it involves preparing daily P&L reporting for a trading desk or group of trading desks within a specific asset class (e.g. Commodities, Rates, Credit).
In addition, the role also involves the preparation and development of Management Information (MI) and also has a project-based component, e.g. involvement on the implementation of new systems or processes in the Bank.
As a Product Controller, you will work in close contact with the Front office trading functions as well as other support departments such as Risk and Operations, allowing you to understand why and how a bank trades on a daily basis.
The Management Information team:
Responsible for the accounting processes associated with Operating Expenses and Client Revenue tracking, as well as for producing financial analysis to monitor the bank's performance. This intern role will gain exposure to:
Monthly accounting processes & Balance Sheet substantiation
Financial reporting and variance analysis commentary for stakeholders across the Bank
Liaising with stakeholders to update monthly rolling budgets / forecasts for headcount & expenses
The TCM Reporting and Stress Testing team:
Responsible for the calculation and reporting of the Bank's capital and liquidity positions as well as all prudential returns to the PRA and Bank of England covering capital, liquidity, large exposures, leverage, Net stable funding ratio, asset encumbrance and a range of statistical returns, as well as various internal MI packs
Assist in the timely and accurate completion and submission of all capital and liquidity returns and provision of management information, including:
Regulatory Capital and Large Exposures (LE) calculations and daily reports to business and management
Daily Liquidity headroom reporting against the Liquidity Coverage Ratio (LCR) and internal stress tests
Detailed analysis and commentary on changes in capital, funding & liquidity positions
Contributions to the forecasting and budgeting processes
Close collaboration with other teams (such as Headroom Management) to support integration efforts
The Financial control team:
Responsible for General Ledger control processes, Balance Sheet Substantiation, monitoring and reporting of services provided through SLAs and change management for key data attributes used across Financial reporting, as well as internal MI and compliance reporting.
The department consists principally of qualified accountants, with a high degree of individual autonomy operating in conjunction with an emphasis on team goals and objectives
Reviewing and investigating requests for changes or creation to master data
Administering the process for changes to SAP user profiles for ICBCS - including access requests for new users
Review/enhance specific financial control processes
Maintenance and administration of the Account substantiation monitoring system

ICBC Standard Bank Plc

To serve our clients globally as the Commodities and Financial Markets hub of ICBC

Finance

Industry

1001-5000

Employees

2015

Founded Year

Mission & Purpose

ICBC Standard Bank is a joint venture between ICBC and Standard Bank Group specialising in commodities and emerging markets serving a global client base from four international offices. The Bank represents a strategic partnership between our parent companies with its strong Chinese and African heritage and supportive shareholders. We specialise in global markets traded products including commodities, fixed income, and currencies, with a focus on frontier and emerging market jurisdictions. We have a global presence, headquartered in London with offices in New York, Shanghai and Singapore. We share the same values, challenges and opportunities. We are a diverse, close-knit, global team with a unique heritage and purpose. We put people first, and give talented, self-driven professionals the flexibility, rewards and freedom to grow their expertise, seek new opportunities and realise their potential.