Equity

Corporate bond research

Risk

Recruitment & Training

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RISK MANAGEMENT

Our analysts operate in counterparty credit, market risk and operational risk. We are experienced in recruiting the right profiles based on our experience in risk management, in banks and at asset managers. A counterparty credit analyst for G7 names, for example, navigates a different information and sovereign risk environment to an Emerging Markets credit officer. In market risk, the profile for a new product process analyst, dealing with traders, differs in important ways from a regulatory stress test mathematician, for example.

COUNTERPARTY CREDIT RISK

Analyst skills & output

  • Understand the types and limits of credit risk
  • How a firm is structured and its financial analysis
  • Knowledge of key ratios and accounting adjustments
  • Trading infrastructure and how to monitor the risk regularly
  • Write counterparty evaluation reports
  • Assign risk categories and limits to counterparties

DEVELOPING/ VALIDATING RISK MODELS

We provide analysts specialising in the models implementation of new banking regulations such as Basel II, Basel III, CRD IV, etc. Our analysts work across the entire range of disciplines: wholesale and retail credit, market and operational risks, and models development and review processes.

Analyst skills & output

  • Understand the concepts of modelling
  • PD, LGD and EAD models
  • Price models
  • Var models
  • Stress testing, including capital stress
  • Model validation; tools to use and current approaches

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MARKET RISK

Analyst skills & output

  • Understand the pillars of regulation and how risk policies change and why
  • Knowledge of macro trading strategy, VaR calculation and positions analysis report
  • New product understanding and assessment
  • Conduct VaR analysis and generate reports

OPERATIONAL RISK & ANTI-MONEY LAUNDERING

Analyst skills & output

  • Awareness of criminal funds and how to complete a suspicious activity report
  • They will know their customer/business and understand how to liaise with other departments to educate about financial crimes
  • Tipping of a client and reporting to Money Laundering Reporting Ocer
  • Understanding cybercrime and different types of attacks

COMPLIANCE

Analyst skills & output

  • Identification and understanding of core compliance risks
  • Key tenets of strong compliance culture
  • Knowledge of supervisory responsibilities
  • Knowledge of primary regulatory principles
  • Performance of risk assessments and reviews
  • Surveillance of trading data to identify risks/issues
  • Review communications

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CORPORATE BOND RESEARCH

From high-yield to emerging markets to IG and SSA, we have deep experience in providing credit analysts. Outputs include morning notes that arrive at your desk when you do; buy-side company meeting preparation; results previews; quick takes and notes; and due diligence reports.

Analyst skills & output

  • Morning notes
  • Earnings reviews
  • New issue valuation
  • Understand the concept of credit analysis
  • Building the arguments and giving recommendations
  • Building trust
  • Knowledge of pricing an instrument and understanding the hierarchy of an instrument
  • Features of a bond

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EQUITY

With structural changes such as MIFID II, we provide proper City/Wall Street analysts who have undergone apprenticeships by City masters. This means that our models and sector notes reflect the practical business world.

Analyst skills & output

  • Earnings notes
  • Forecasts
  • Modelling
  • Company valuations
  • Building the arguments and giving recommendations

PRIVATE EQUITY / M&A

Our analysts create merger scenario models and reports, and can forecast out the implications of new capital structures.

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TRAINING

Banking skills can be learned: not just technical but also behavioural. Indeed, these skills are not innate in London, NY or any financial centre.

The value-added part of capital markets analysis is closely related to tacit and judgmental skills. Context and market history are key to good analysis.

Our training delivers this value added to a level on a par with training for capital markets analysts in the City of London or on Wall Street.

Our training is modelled on the apprenticeships which have been used for hundreds of years in the City and on Wall Street. A smart new apprentice works hard under a craft master to learn the technical skills, but more importantly the judgement required.

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RECRUITMENT

We have developed and proven a cutting edge recruitment process based on testing of carefully identified competencies, benchmarked against our deep experience. Interview elements are always structured and give much better outcomes than traditional unfocused chats with candidates. We have special expertise in the challenging area of recruiting offshore analysts who can work in a global context.