Looking at the Junior Analyst banking job, with a Jersey focus

By betrandkerr on January 22, 2011 In Banking

Right lets look at standard – base level asset management & banking position – the sort of thing the very best graduate candidates can expect as their first banking job in Jersey. To understand the role of financial analysis and just what analysts do you need to understand the deal cycle of the corporate finance team. By deals we could be talking about follow on offerings, exclusive payments, IPO’s, company mergers or even asset purchases. These all start with the initial pitch to the corporate entity – usually in competition with other banks. This is often referred to as the “beauty parade”. Here senior bankers will present just what the bank can do to assist the company and offer their initial analysis of the potential transaction.

One of the key tools employed by the senior bankers is the “pitch book”. These days this is usually a PowerPoint presentation in soft and hard copy that describes the qualifications of the bank and detailed analysis of the existing marketplace. More often than not it also includes a valuation of the potential client, their proposed new entity and any other metrics that will illustrate the skills of the corporate banking department. Should the company like what it hears and want to pursue this transaction then it will use the bank to execute it on their behalf. Sometimes these can happen quickly – on other occasions they have been known to take years. A successful corporate banking division will have several deals on the go at any one time.

The Junior Analyst quite often starts their Jersey banking careers by helping but these “pitch books” together. Should a Jersey based Junior Analyst show strong skills and gain the confidence of the senior bankers they can expect at some point to accompany them to assist in executing one of these deals.

This sounds simple enough but there is a lot to a Junior Analysts Jersey job. The first point that should be made is the level of drive and commitment that will be expected from you. In this, probably your first private banking job in Jersey you will work very hard – rising at the crack of dawn and ending long after dark. Much of your weekend will be filled with catching up on training and knowledge you need but have no time to study for in the week! Expect to work a real world week of around eighty hours!

Your day to day duties will revolve around the preparation of a series of analysis. The first and easiest to explain is “Comps” or comparable companies’ analysis. This is a way to value companies and publicly traded organizations. By using this methodology to create your analysis you can structure intricate and complex financials and create a real world snapshot of how value is created in a market segment or industrial sector. The second major area that you will be asked to create analysis around in this Jersey banking job is discounted profit analysis or DCF for short. The DCF is a key component of the pitch book as it needs you to build financial models for the target company, working out its weighted cost of capital and using it to discount certain cash flows so being able to ascertain its real value.

Further sorts of research you might be asked to create include precedent purchases analyses and leveraged buyout products (LBO?s to their fans). The key thing to remember is to triple check your work, ensuring there are no errors that can be seen in the pitch book.

Most Jersey based banks have first rate training programs and have a series of mentoring and guide analysis templates the budding junior analyst can use. It is a steep learning curve but one that can lead to a very rewarding career in banking as the best senior bankers need a detailed understanding of analysis and how to deploy it. What better way to learn this than having actually worked in preparing the analysis for a pitch book.

So all in all the role of a Junior Analyst is an excellent way to get into private banking in Jersey. Just be aware you will have to pull the odd all nighter to survive the first few months’ hard slog, but always keep the bigger picture in mind. There is no better way to build a career in banking by starting at this sort of banking job in Jersey.

Commerce and Headhunting will be a single application of fascination to Bertrand Kerr. The other academic specialty of emphasis is actually
jobs and recruiting, Bertrand kerr is a key recruitment consultant for Finance and operational recruitment covering Jersey. Bertrand kerr invites you to demand for banking jobs in Jersey at: Offshore Banking Jobs

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