Yann-Ray KAMANOU TAWAMBA

In this article, Yann-Ray KAMANOU TAWAMBA (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2024-2025) shares his experience as an intern in the Primary Market team within the Global Securities Settlement division at Natixis.

About the company

Natixis is a French corporate and investment bank that provides financial services to corporations, institutional investors, and financial institutions employing in total over 105,000 collaborators. It operates in various fields, including asset and wealth management, insurance, and corporate and investment banking. As of December 31, 2024, Groupe BPCE reported total assets amounting to €1.531 trillion. Within Natixis, the Global Securities Settlement division plays a crucial role in ensuring the proper execution of financial transactions. More specifically, the Primary Market team is responsible for overseeing bond issuances and ensuring smooth settlement processes across different markets.

Logo of Natixis.

Source: Natixis

My internship

As part of my internship, I joined the Primary Market team within the Global Securities Settlement division at Natixis. This experience allowed me to gain insight into the mechanisms of financial markets, particularly in bond issuance and post-trade processes. My role mainly involved monitoring Natixis’ bond issuances as well as third-party medium-to-long-term accounts, ensuring the correct execution of financial transactions, and liaising with internal and external stakeholders to resolve potential discrepancies. Working in such a dynamic environment provided me with a better understanding of how financial institutions operate and reinforced my ability to analyze complex financial transactions.

My missions

During my internship, I was entrusted with several responsibilities that allowed me to develop a thorough understanding of financial market operations. One of my primary tasks was to ensure the compliance of legal documentation related to bond issuances, ensuring that all required documents met regulatory standards. I was also involved in validating and confirming transactions within internal systems, ensuring accuracy before settlement. A key aspect of my role was monitoring the settlement and delivery of transactions across multiple financial markets, including Euroclear and domestic markets in Italy, Spain, and the United States. When discrepancies arose, I had to liaise with counterparties, depositories, and paying agents to identify the source of the issue and propose an appropriate resolution. Additionally, I was responsible for reporting any problems to the relevant teams, such as the middle office, front office, legal, and accounting departments, ensuring that any operational risks were promptly addressed. My daily tasks also included reconciling internal and external records to track settlement suspensions and following corporate actions that could impact securities. To ensure efficient reporting and decision-making, I contributed to the preparation of activity reports that summarized key transactions and market developments.

Required skills and knowledge

To succeed in this role, a solid foundation in financial markets and regulatory compliance was essential. Given the nature of the work, good analytical skills were required to identify and resolve settlement discrepancies efficiently. Attention to detail was crucial, as any error in transaction processing could have significant financial and operational consequences. Effective communication was also an important skill, as I frequently interacted with internal teams and external stakeholders to coordinate operations. Additionally, working in such a fast-paced environment required adaptability and the ability to manage multiple tasks simultaneously. Technical proficiency in financial systems was also beneficial, as it allowed me to process transactions accurately and extract relevant data for reporting purposes.

What I learned

This internship at Natixis was an enriching experience that provided me with valuable insights into the functioning of financial markets and the post-trade environment. One of the key takeaways from this experience was the importance of precision in financial operations—any inaccuracy in trade processing could lead to costly settlement failures. I also became aware of the complexity of regulatory frameworks, as each financial market has its own set of rules that must be strictly followed. Moreover, I realized how essential collaboration is in a banking environment, as different departments must work together to ensure seamless transaction execution. Lastly, I learned that financial markets are constantly evolving, requiring professionals to stay up to date with new regulations and market trends.

Financial concepts related my internship

Liquidity management

This is especially relevant, as ensuring the timely and seamless settlement of transactions plays a vital role in maintaining market efficiency, preventing disruptions, and fostering overall financial stability.

Counterparty risk

It plays a crucial role in financial operations, as each transaction involves multiple parties whose creditworthiness and reliability must be carefully assessed to mitigate potential counterparty risk and ensure smooth market functioning.

Clearing and settlement mechanisms

It provided valuable insights into how financial transactions are finalized, highlighting the critical role of clearing and settlement mechanisms in reducing settlement risk and ensuring the smooth functioning of financial markets.

Why should I be interested in this post?

This post provides a first-hand look at the responsibilities and skills required for a role in securities settlement and bond issuance within a major investment bank. The internship at Natixis offers insight into key financial operations, such as trade settlement, regulatory compliance, and risk management—critical areas for careers in banking and capital markets. Additionally, the experience highlights the importance of analytical thinking, problem-solving, and collaboration in a dynamic financial environment, all of which are essential for aspiring finance professionals looking to enter similar roles in global institutions.

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Useful resources

Natixis

Natixis Key information for shareholders

Natixis Full-year 2024 and Q4-24 results of Groupe BPCE

About the author

The article was written in February 2025 by Yann-Ray KAMANOU TAWAMBA (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2024-2025).