In this article, Iris ORHAND (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2026) shares her professional experience as an Executive Assistant in Internal Audit (Inspection Générale) at Bpifrance (January – December 2025).
About the company
Bpifrance is France’s public investment bank, created in 2012 through the merger of several state-backed institutions, and today it plays a central role in financing and supporting French companies at every stage of their development. With around €60 billion deployed in 2024 and a workforce of roughly 2,300 employees, Bpifrance combines public policy objectives with financial expertise to help businesses innovate, grow, and expand internationally. Its mission goes far beyond lending, as it also provides guarantees, equity investments, innovation funding, export support, and advisory services, making it a one-stop partner for entrepreneurs. Because it operates at the intersection of public funds and financial markets, strong governance and a solid control environment are essential, which is why functions such as Risk, Compliance, Internal Control and Internal Audit play a crucial role in ensuring responsible decision-making, transparency and the long-term protection of public interests.
Logo of Bpifrance
Source: the company.
My internship
In 2025, I completed a 12-month apprenticeship as an Executive Assistant in the Internal Audit Department, known at Bpifrance as “Inspection Générale”. This department is responsible for independently assessing the quality of the bank’s processes, controls and risk management, and for providing recommendations to strengthen the organization’s overall governance. My role combined operational coordination, process improvement and analytical support, which gave me practical exposure to how an internal audit function prepares and delivers missions, follows strict methodologies and ensures the consistency and quality of its work. Through this experience, I had the opportunity to see how internal auditors challenge processes, analyze risks, and help the organization operate more securely and efficiently.
My missions
During my apprenticeship, I contributed to the strategic optimization of internal audit processes, participated in internal audit missions, developed indicators and reporting tools, and implemented and executed a new internal audit quality review process, which is now used to assess the work of more than 30 internal auditors at each end-of-mission review period.
Required skills and knowledge
This role required a combination of both hard and soft skills, and I quickly realized how important it was to balance the two. On the technical side, I relied a lot on advanced Excel, basic automation and macro logic, and a structured approach to financial analysis. A solid understanding of accounting fundamentals was essential, as well as developing strong documentation habits to keep our work clear, traceable, and easy for reviewers to follow. But beyond the technical knowledge, soft skills mattered just as much, if not more. Attention to detail was key, as was maintaining a sense of professional skepticism without falling into mistrust. Clear and calm communication helped a lot, especially when dealing with tight deadlines or last-minute requests during busy periods. I also learned how important it is to be pedagogical and professional with clients. Sometimes, audit questions can make clients feel like they are being challenged or judged, even when that’s not the intention. Taking the time to explain why we need certain information, reassuring them, and keeping the conversation constructive made the whole process smoother and helped build trust. Overall, this mix of technical rigor and human sensitivity was at the core of the role.
What I learned
During the year, I contributed to several projects aimed at improving both efficiency and audit quality within the Internal Audit Department. I worked on initiatives that strengthened the organization and standardization of internal audit processes, which helped teams work more consistently across missions. I also took part in internal audit assignments, supporting the different steps of the mission lifecycle and helping prepare and structure the deliverables. Another part of my work involved developing indicators and reporting tools to give management better visibility over activity levels, deadlines and key metrics. Finally, I helped implement and run a new internal audit quality review process, now used by more than thirty internal auditors, which significantly improved consistency, clarity and review readiness across the department.
Financial concepts related to my internship
I present below three financial concepts related to my internship: credit risk and portfolio quality, liquidity risk, and market risk.
Credit risk and portfolio quality
Credit risk refers to the possibility that a borrower may be unable to meet its obligations, which makes it one of the core risks for any bank. In internal audit, the objective is not to take or challenge credit decisions, but to assess whether the credit process itself is robust and well controlled. This involves reviewing how credit approvals are granted, whether delegation levels are respected, and whether all required documentation is complete, coherent and properly justified. Internal Audit also examines how exposures are monitored over time, looking at the quality of follow-up procedures, the detection of early warning indicators and the responsiveness of teams when a situation starts to deteriorate. Together, these elements help determine whether the bank’s credit processes provide a reliable framework for managing risk and maintaining a healthy loan portfolio.
Liquidity risk
Liquidity risk refers to the possibility that a financial institution may not be able to meet its short-term obligations when they fall due. In traditional banks, this risk is often linked to customer deposits, which can fluctuate and create sudden funding pressures. At Bpifrance, liquidity risk exists as well, but in a different form. The organisation does not rely on retail deposits and instead operates with stable funding sources such as the State, the Caisse des Dépôts or long-term market issuances. This structure makes liquidity risk generally less acute than in commercial banks. However, it remains a critical area because Bpifrance must still manage significant cash outflows related to loans, guarantees and investment operations, and must ensure that its funding plans and liquidity buffers remain robust and aligned with its long-term missions.
Market risk
Market risk is the risk of losses arising from changes in market variables such as interest rates, exchange rates or the value of financial assets. In many banks, it is closely linked to trading activities and exposure to volatile financial markets. At Bpifrance, market risk is present but within a much narrower scope. The institution does not operate trading desks and does not take speculative positions. Instead, its exposure comes from treasury management, the valuation of certain financial instruments and, more importantly, the evolution of the value of its equity investments. For this reason, market risk at Bpifrance is less about short-term volatility and more about the prudent management of long-term financial assets and the stability of the institution’s balance sheet over time.
Why should I be interested in this post ?
This role is highly relevant for students interested in risk, governance, internal control, compliance, audit or operational excellence. It provides a concrete view of how financial institutions identify vulnerabilities, strengthen their control environment and improve resilience over time. Working at Bpifrance also adds a meaningful dimension to the experience, because the organisation supports the french economy and operates with a clear public mission. It is also known as a responsible employer with strong working conditions and a culture that values collaboration, learning and employee wellbeing. Altogether, this makes the experience both professionally valuable and personally rewarding.
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About the author
The article was written in December 2025 by Iris ORHAND (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2026).
▶ Read all articles by Iris ORHAND