My internship as Finance Assistant Manager at Kpler

May 29, 2025 by Alexandre GANNE

In this article, Alexandre GANNE (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2025) shares his professional experience as Finance Assistant Manager at Kpler.

About the company

Kpler is a fast-growing technology and data intelligence company offering transparency solutions in commodity markets. Its platforms collect and analyze data from hundreds of sources: including radar, satellites, shipping databases, and government publications, to provide real-time insights into global supply and demand dynamics. Kpler’s clients include energy giants, trading houses, public utilities, and financial institutions such as hedge funds and banks.

Logo of Kpler.

Source: the company.

Headquartered in Paris, Kpler has a strong international presence with offices in London, Singapore, Dubai, Houston, and New York. Its diverse team and innovative culture have made it one of the key disruptors in the financial and energy data sectors.

My internship

My missions

During my internship, I worked within the Finance Department as a Finance Assistant Manager, contributing to Kpler’s accounts receivable processes. As my first business school internship, which I completed at just 19 years old over a period of three months, this role gave me early exposure to the financial operations of a rapidly scaling tech firm. My responsibilities included issuing and monitoring invoices across multiple international entities (France, UK, UAE, US, Singapore), tracking and securing timely customer payments, and managing unresolved payment situations in coordination with sales and operations teams. I was also in charge of analyzing client payment performance metrics (e.g. Days Sales Outstanding), supporting forecasting tasks, and escalating at-risk accounts to senior management.

Required skills and knowledge

The internship required strong organizational and analytical skills, with an understanding of accounting principles and international tax practices. Proficiency in Microsoft Excel and familiarity with ERP or invoicing software were essential for data manipulation and reporting. Additionally, this position demanded a high level of professional communication, especially in client interactions regarding payment reminders, dispute resolution, and follow-ups, often involving senior finance stakeholders.

What I learned

This experience gave me a detailed view of how financial flows are managed in a fast-paced, multinational tech company. I enhanced my technical skills in accounts receivable management, financial forecasting, and reporting. The daily collaboration with sales and legal teams further reinforced my ability to work across departments and navigate complex operational settings in English and French. I also learned to use software tools such as NetSuite and Salesforce.com. Beyond technical knowledge, I discovered what it means to work in a 21st-century startup environment, which contrasts significantly with traditional corporate structures. I learned to manage my own working hours, adapt to flexible geographies, including remote work setups, although I preferred being on-site in the Paris office to engage directly with the talented Kpler teams. Finally, I developed the ability to communicate effectively with people from diverse professional backgrounds, including engineers, developers, and sales specialists.

Financial concepts related to my internship

I present below three financial concepts related to my internship: Days Sales Outstanding (DSO), Cash Flow Forecasting, and Credit Risk Assessment.

Days Sales Outstanding (DSO)

DSO measures the average number of days it takes for a company to collect payment after a sale. At Kpler, I regularly tracked this KPI across entities to identify underperforming accounts. A high DSO can indicate liquidity issues and may require proactive engagement strategies. My tasks involved identifying trends in DSO, generating dashboards to report them, and communicating with internal teams to initiate corrective actions with clients.

Cash Flow Forecasting

Cash flow forecasting involves projecting future cash inflows and outflows to ensure the company can meet its financial obligations. As part of the finance team, I supported the preparation of weekly and monthly forecasts based on outstanding invoices, historical payment behavior, and contractual terms. Accurate forecasting is crucial for maintaining solvency and planning investments in high-growth companies like Kpler.

Credit Risk Assessment

Credit risk assessment evaluates the likelihood that a customer will default on their payment obligations. At Kpler, I participated in risk reviews using payment histories and financial data to inform internal decisions regarding client credit terms. For high-risk clients, I contributed to drafting escalation reports and supported the implementation of preemptive actions such as revised payment terms or partial upfront invoicing.

Why should I be interested in this post?

This post is particularly relevant for students interested in finance within innovative environments. It provides exposure to international operations, cross-functional collaboration, and practical financial risk management. Working at Kpler allows you to evolve in a data-driven culture that sits at the intersection of finance, technology, and energy markets. It is also a unique opportunity to contribute meaningfully to strategic processes in a fast-scaling tech firm.

Useful resources

Kpler – Official Website

About the author

The article was written in May 2025 by Alexandre GANNE (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2025).

My apprenticeship as Depositary Control Auditor at CACEIS Bank

May 29, 2025 by Alexandre GANNE

In this article, Alexandre GANNE (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2025) shares his professional experience as Depositary Control Auditor at CACEIS Bank.

About the company

CACEIS Bank is a leading European financial institution specializing in asset servicing. A subsidiary of Crédit Agricole and Santander, CACEIS provides custody, depositary, and fund administration services to institutional clients, management companies, and large corporates. The group supervises more than €2.3 trillion in assets under custody and over €3 trillion in assets under administration.

Logo of CACEIS Bank

Source: the company.

The Depositary Control team plays a critical role in investor protection, ensuring that asset managers operate in compliance with applicable regulations. It verifies the correct valuation of assets, control of financial ratios, and the conformity of transactions made on behalf of the funds.

My internship

My missions

As a Depositary Control Auditor, my primary responsibility was to conduct thematic audits on European investment management companies with assets exceeding €5 billion. I focused on key control areas such as asset valuation, regulatory ratios, and Value at Risk (VaR). I also carried out analytical reports on current macroeconomic trends to assess their potential impact on asset management practices. Additionally, I worked on recurring and ad hoc studies, such as evaluating the impact of the ongoing real estate crisis on real estate investment funds (REITs, OPCIs, SCPI), analyzing their asset exposure, liquidity constraints, and valuation resilience.

Required skills and knowledge

This role required a solid understanding of financial regulations and investment vehicles, as well as proficiency in the Microsoft Office suite, especially Excel for financial modeling and reporting. Soft skills such as rigor, autonomy, and teamwork were crucial to ensure the reliability of our audit reports and smooth communication with asset managers. A high level of professionalism in client communication was essential, particularly when addressing sensitive compliance issues with senior representatives of management companies.

What I learned

This apprenticeship allowed me to develop a comprehensive understanding of the regulatory ecosystem of European asset management. I acquired expertise in risk control, asset valuation methodologies, and fund auditing practices. I also improved my organizational skills, learning to manage several audit missions simultaneously while respecting strict deadlines and reporting requirements.

Financial concepts related to my internship

I present below three financial concepts related to my internship: asset valuation, Value at Risk (VaR), and key regulatory ratios.

Asset Valuation

Asset valuation is the process of determining the fair market value of assets held in an investment portfolio. This is a critical step in calculating the Net Asset Value (NAV) of a fund. In practice, I reviewed how management companies priced listed assets (using mark-to-market techniques) and unlisted assets (using models like discounted cash flows or multiples comparison). I ensured that valuation methods adhered to regulatory guidelines and were consistently applied, especially for complex or illiquid assets.

Value at Risk (VaR)

Value at Risk (VaR) quantifies the potential maximum loss of a portfolio under normal market conditions over a specific time period and confidence level (e.g., 99% over 10 days). I assessed the robustness of VaR models used by asset managers, ensuring they incorporated appropriate volatility measures, stress scenarios, and backtesting. VaR helped us monitor whether funds stayed within authorized market risk limits and provided a quantitative basis for risk-based oversight.

Regulatory Ratios

Regulatory ratios include leverage, liquidity, and concentration limits imposed by the AIFM and UCITS directives. During audits, I verified that asset managers respected these ratios daily and that breaches were properly justified and resolved. This involved reviewing internal control mechanisms and examining historical data to detect anomalies or patterns of non-compliance, thereby reinforcing the protection of investor interests.

Why should I be interested in this post?

This internship is particularly valuable for students interested in financial regulation, risk oversight, or asset management. Beyond that, it is a gateway to multiple career paths in finance. I am honored to be the fifth ESSEC student to hold this position at CACEIS Bank. Many of my predecessors went on to successful careers in investment banking, private equity, or consulting, demonstrating that this experience builds a strong foundation even beyond the field of risk management. Being part of this legacy pushes me to give my best and uphold the high standards set by those who came before me.

Useful resources

CACEIS – Home Page

EFAMA – European Fund and Asset Management Association

Autorité des Marchés Financiers (AMF)

About the author

The article was written in May 2025 by Alexandre GANNE (ESSEC Business School, Global Bachelor in Business Administration (GBBA) –2025).

My Internship Experience at The Ministry of Citizenship and Multiculturalism

May 25, 2025May 25, 2025 by Adelaide RIDER-NICHOLSON

In this article, Adelaide RIDER-NICHOLSON (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – Exchange Student, 2025) shares their internship experience with the Government of Canada at the Ministry of Citizenship and Multiculturalism. They explore the structure of the Ministry, its mandate, and their involvement in policy research and community engagement projects.

About the Ministry of Citizenship and Multiculturalism

The Ministry of Citizenship and Multiculturalism is a part of the Government of Canada and is responsible for advancing inclusive policies, promoting multicultural values, and ensuring that newcomers and minority communities are supported through public services and community initiatives. The Ministry plays a critical role in shaping Canada’s multicultural identity and ensuring equitable access to opportunities across all communities.

Logo of Government of Ontario.

Source: the Government of Ontario.

As a public institution, the Ministry’s focus is not profit-driven but centered on social impact, public service, and civic responsibility. Its work ranges from supporting newcomer integration, funding ethnocultural community organizations, and developing anti-racism strategies to promoting civic engagement and Canadian values of pluralism and diversity.

The Working Process

Like many public service departments, the Ministry follows a structured approach to designing and implementing programs. This process often involves:

Step 1: Policy Mandate & Strategic Planning

All projects begin with a mandate from the provincial or federal government. These directives outline focus areas — such as improving access to services for racialized communities or enhancing civic education among youth. Strategic planning follows, during which interdepartmental teams define objectives, allocate resources, and consult stakeholders.

Step 2: Research and Community Engagement

To ensure that initiatives reflect lived experiences, the Ministry often conducts stakeholder engagement, community consultations, and data analysis. As an intern, I was involved in this step—compiling demographic reports, preparing surveys, and participating in virtual town halls with community leaders and non-governmental organizations (NGOs).

Step 3: Policy Development and Program Delivery

Once the research and feedback are analyzed, policy advisors draft policy proposals or refine programs. These may include funding frameworks, anti-racism toolkits, or educational materials. Interns assist by reviewing comparative policy models, drafting briefing notes, or supporting communications plans for public outreach.

Each level of the organization plays a specific role—from data collection and research at the analyst level to shaping the long-term vision of the Ministry at the executive level. Cross-functional teamwork is essential, especially between communications, operations, and policy units.

Work Environment & Ethics

Working at the Ministry was defined by its strong commitment to equity, inclusion, and accountability. Unlike the private sector, timelines are often influenced by legislative cycles and public consultations, which means balancing patience with precision. The emphasis on confidentiality and clarity in communication is paramount—every briefing note or report may eventually inform public policy.

Colleagues were incredibly supportive and willing to share their career journeys in public service. Weekly check-ins, mentorship coffee chats, and access to learning portals created a welcoming and growth-oriented atmosphere.

One important takeaway was the Ministry’s emphasis on evidence-based policy—decisions were never rushed and were always informed by extensive research and inclusive dialogues.

Required skills and knowledge

During my internship at the Ministry of Citizenship and Multiculturalism, I developed a balanced mix of hard and soft skills essential for a career in public policy and beyond. On the technical side, I strengthened my analytical abilities by working with demographic data, preparing briefing notes, and evaluating policy frameworks with measurable outcomes. I also became proficient in using government reporting tools and adhering to formal policy-writing standards. Equally important were the soft skills I honed: navigating cross-cultural communication during community consultations, adapting to a formal bureaucratic environment, and presenting complex findings in a clear, accessible way for both internal and public stakeholders. These experiences sharpened my critical thinking, diplomacy, and attention to detail—skills that are invaluable for any ESSEC student aiming to lead responsibly in business, government, or international organizations.

What I learned

One of the most impactful lessons I learned during my internship was how deeply interconnected public policy is with real-world social outcomes. I gained a clearer understanding of how decisions made at the ministry level directly influence funding for grassroots organizations, support for immigrant communities, and the implementation of inclusive practices across the province. I also came to appreciate the importance of patience and persistence in government work—policy change is often gradual, requiring continuous stakeholder engagement and rigorous documentation. Perhaps most importantly, I learned how to approach complex social challenges with a structured, evidence-based mindset, and how public institutions balance political direction with long-term societal goals.

Financial concepts related to my internship

I present below three financial concepts related to my internship: public budgeting, cost-benefit analysis, and grant funding allocation. These concepts were central to my work at the Ministry of Citizenship and Multiculturalism and helped me understand how financial principles are applied in public policy decision-making.

Public Budgeting

Public budgeting is the process by which government departments plan, allocate, and manage financial resources in alignment with policy goals. During my internship, I observed how the Ministry sets budget priorities based on strategic objectives such as promoting multiculturalism and supporting newcomer integration. This involved reviewing financial plans, aligning spending with program goals, and ensuring accountability in how public funds are used. Through this, I gained an understanding of how budgets are not just numbers but reflect broader social and political commitments.

Cost-Benefit Analysis

Cost-benefit analysis (CBA) is a tool used to evaluate the efficiency of public programs by comparing expected costs with anticipated benefits. I encountered this concept while working on internal policy reviews, where analysts used CBA to assess the viability of expanding or adjusting government initiatives. For example, I contributed to a report evaluating the effectiveness of community grants in reducing barriers for racialized youth. CBA helped inform whether the social outcomes achieved justified the public investment, which is crucial for responsible policy-making.

Grant Funding Allocation

Grant funding allocation refers to the process of distributing government funds to external organizations that align with specific policy objectives. One of my key tasks was helping review grant applications from community groups. This required assessing the financial soundness of proposals, projected outcomes, and how well each initiative aligned with Ministry goals. I learned how financial evaluation, transparency, and strategic impact all factor into deciding which organizations receive public funding. This experience deepened my appreciation for the financial scrutiny that underpins every public dollar awarded.

Why should I be interested in this post?

For an ESSEC student passionate about business, finance, and public impact, this internship experience highlights how government institutions like the Ministry of Citizenship and Multiculturalism play a vital role in shaping inclusive economic policies and managing resource allocation across diverse communities. Understanding how policy is developed, funded, and implemented not only broadens your perspective on governance but also strengthens your ability to assess financial decisions through a social lens. This exposure is especially relevant for those aiming to work in ESG investing, impact consulting, or public-private partnerships—where financial strategy and social responsibility go hand in hand.

Useful resources

Government of Canada – Multiculturalism and Anti-Racism Program – Official site providing information on funding programs and strategies to promote equity and inclusion.

Statistics Canada – Immigration and Ethnocultural Diversity Statistics – Demographic data and analytical reports essential for evidence-based policy decisions.

OECD – Public Integrity – International best practices and frameworks on transparency and ethical governance.

Treasury Board of Canada Secretariat – Policy on Results – Framework for planning, measuring, and reporting on public sector performance.

About the author

The article was written in May 2025 by Adelaide RIDER-NICHOLSON (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – Exchange Student, 2025).

My Internship Experience in Product Management at MagentaTV (Telekom Germany)

May 11, 2025 by Olivia BRÜN

In this article, Olivia BRÜN (ESSEC Business School, Global Bachelor in Business Administration (BGBA), and ESIC Business School, Bachelor of Business Administration and Management (BBAM), 2022–2026) shares her professional experience as a Product Management Intern at MagentaTV, the TV and streaming service of Telekom Deutschland.

About the company

Telekom Deutschland’s flagship product, MagentaTV, supplies a wide variety of TV, streaming, and on-demand media to a large consumer base. Product Management is key to making the platform meet user expectations and align with the strategic goals of the company at large.

My group was tasked with improving customer happiness as part of the broad category of user experience, which encompasses long-term user engagement, content suggestion, and product discovery. This project cut across various industries, involving editorial management, user experience research and studies, marketplace research, and the implementation of customized content plans.

Logo of Telekom Deutschland.

Source: the company.

My internship

In the summer of 2023, I completed a two-month internship in the Product Management department of MagentaTV, which is a part of Telekom Deutschland. My duties covered major areas such as Editorial Campaign Management, Conceptual Development, Sales and Customer Journey Mapping, User Experience and Personalization.

As part of this internship, I gained valuable insights into the customer-focused aspects of the entertainment industry tied to Germany’s market-leading telecommunication provider and its management of digital media products. In addition, I was exposed to the intersection of product innovation, marketing technology, and corporate strategy in a large-scale organization.

My missions

During my internship, I was given the following responsibilities:

Organizing editorial functions to carry out emphasized content and promotional campaigns.
Conducting competitive and market research related to streaming in the DACH region.
Assessing customer experience, identifying areas of concern, and recommending improvements.
Leading workshops to improve user experience and create innovative product offerings.
Contributing to data-driven marketing initiatives, including personalization strategies for various user segments.

By completing these assignments, I gained a hands-on understanding of how consumer demands and technological limitations shape media products. Cross-functional collaboration with marketing, analytics, and user experience (UX) teams offered key insights into organizational dynamics.

Required skills and knowledge

The internship required sound analytical reasoning, structured conceptual thinking, and strong communication skills. Knowledge of consumer behaviour and digital trends was essential, especially in developing personalization strategies and campaign concepts. Technical tools like PowerPoint, Excel, and basic CMS were part of my daily toolkit. Above all, adaptability and attention to detail were vital in a fast-paced environment.

What I learned

My experience at MagentaTV gave me deeper insight into translating customer needs into meaningful product features. I learned how business strategy and product design merge in the context of digital platforms. I also developed an appreciation for how cross-functional teams collaborate across business, editorial, UX, and technical areas to shape user centered media services.

Financial concepts related my internship

Although I didn’t engage directly in financial analysis, my work was informed by a number of financial principles: customer lifetime value (CLV), return on investment (ROI) for campaigns, and subscription-based revenue models.

Customer Lifetime Value (CLV)

Retention strategies and personalization efforts were guided by the aim to increase CLV, a metric assessing the long-term value each customer adds to the business.

Return on Investment (ROI) for Campaigns

Evaluating editorial and marketing initiatives involved understanding KPIs that reflect campaign efficiency in terms of engagement, conversion, and acquisition costs.

Subscription-Based Revenue Models

Working with MagentaTV helped me understand the importance of recurring revenue, churn rates, and customer satisfaction in sustaining subscription-based business models.

Why should I be interested in this post?

This internship is particularly relevant for students interested in digital media, marketing, and product strategy. It illustrates how business thinking, technical execution, and customer engagement converge in real-world settings. It also highlights the importance of user-centric product development as a strategic advantage in subscription-based businesses.

Useful resources

ForaSoft – Streaming App UX Best Practices
An article offering industry insights into optimal user experience design in streaming applications, relevant to MagentaTV’s personalization and product innovation efforts.

Hotbot – Unlocking the Benefits of MagentaTV in 2023
A feature article exploring the core functionalities and improvements of MagentaTV, shedding light on user experience enhancements from a customer perspective.

Broadband TV News – Deutsche Telekom Relaunches MagentaTV
Covers the major 2024 revamp of MagentaTV, aligning with key initiatives I supported during my internship in product development and editorial strategy.

MIPBlog – Best Interfaces of Streaming Platforms
Compares interface design across major platforms and positions MagentaTV within a competitive UX landscape — highly relevant to user journey mapping work.

About the author

The article was written in May 2025 by Olivia BRÜN (ESSEC Business School, Global Bachelor in Business Administration (BGBA), and ESIC Business School, Bachelor of Business Administration and Management (BBAM), 2022–2026), 2022–2026).

My Professional Experience Working as a Strategy Intern at ANXO Management Consulting

May 11, 2025 by Olivia BRÜN

About the company

ANXO is a moderately sized consultancy company based in Frankfurt am Main, Germany. The firm specializes in strategy development, organizational restructuring, transformation processes, and digitalization, offering its services to public and private sector organizations. ANXO guides organizations through complex change processes while also supporting the creation of sustainable strategic projects.

Logo of ANXO Management Consulting.

Source: the company.

I was with one team during my internship and provided support to partners on specific projects from time to time. I supported consultants in organizing internal and external workshops, assisted in the coordination of meetings, and was involved in communications and marketing functions.

My internship

From late May to mid-August 2024, I completed a three-month full-time internship at ANXO Management Consulting GmbH. As a Strategy Intern, I was involved in various internal and external projects, worked on client-related projects, attended association events, and supported projects across the whole organization.

One of the key aspects of my internship was working with Ralf Strehlau, President of the Federal Association of German Management Consultants (BDU) and Managing Director of ANXO. This experience gave me important insights into the operations of consultancy companies with regards to business and industry representation.

My missions

My tasks included:

Conducting analysis of industry trends and competitive forces for project leadership and consultants.
Organizing and documenting workshops and strategic planning sessions in the organization.
Enabling autonomous collaboration between internal divisions, clients, and professional bodies.
Planning a client-focused business trip to Düsseldorf and coordinating a VR pipeline demonstration at a trade show.
Helping in the formulation and organization of ANXO’s web relaunch initiative.
Organizing internal corporate functions involving management staff and consultants.

Required skills and knowledge

The internship required a high degree of self-management, professional communication skills, and the ability to work independently under strict time constraints. The ability to quickly absorb and analyze information and then convert it into practical outcomes was particularly critical.

Analytical research skills were necessary, especially for competitive analysis and preparing reports used in association meetings. Attention to detail and maintaining high standards in communication and operations were key to delivering value in a consultancy environment.

What I learned

My time at ANXO gave me a practical and contextualized understanding of the consultancy sector, especially within a medium-sized organization. I developed transferable skills in research, communication, and stakeholder engagement.

Taking part in a public trade fair presentation and collaborating with clients highlighted the importance of clear, confident communication in business settings. This experience helped me gain a deeper appreciation for the structured, analytical, and people-oriented nature of consulting work.

Financial concepts related my internship

I present below three financial concepts related to my internship: project cost awareness, resource utilization, and consulting business models.

Project Cost Awareness

While coordinating meetings and planning travel, I became more aware of how resource planning and time budgeting affect the implementation of consulting projects. For mid-sized firms juggling multiple projects, managing these elements efficiently is essential to financial sustainability.

Resource Utilization

I observed how consultants allocated time across various projects and tasks. This gave me initial exposure to utilization rates — a vital performance metric in consulting that affects staffing and overall profitability.

Consulting Business Models

Through internal coordination and client engagement support, I gained familiarity with the business economics of consulting firms, including time-based billing, project pricing strategies, and the economics of client retention.

Why should I be interested in this post?

This internship gave me practical insight into the consultancy industry and the dynamics of a medium-sized firm. For ESSEC students curious about project delivery, strategy, or professional services, this experience offers a realistic preview of consulting work, with its mix of analytical, operational, and interpersonal challenges.

Useful resources

Financial Times German consulting firms grow amid increased demand
An article discussing the growth of consulting firms in Germany, highlighting trends relevant to mid-sized strategy firms like ANXO.

Dartmouth CPD – Consulting 101 Resource
An overview of consulting industry fundamentals, useful for students exploring roles and skills relevant to consulting internships.

About the author

My First Professional full-time job as a Loan Closer at Bank of America

May 22, 2025May 2, 2025 by Agnès POLIS

In this article, Agnes POLIS (ESSEC Business School, Mastère Specialisé Direction Financière et Contrôle (MS DFC), 2024-2026) shares her professional experience, having worked as a Loan Closer at Bank of America, overseeing Collateralized Debt Obligation (CDO) transactions within American and British portfolios valued at over 500 million USD.

About Bank of America

Bank of America was originally founded in 1904 by Amadeo Giannini in San Francisco as the Bank of Italy, created to serve immigrants overlooked by other banks. It officially became Bank of America in 1930 and has since grown through major mergers, including its acquisition of Merrill Lynch in 2009. Today, the company operates in all 50 U.S. states and over 35 countries, offering services in consumer banking, corporate banking, wealth management, and investment services. Its strategy centers on responsible growth, digital transformation, and deepening client relationships while maintaining strong risk management practices. Bank of America’s mission is to improve financial lives through the power of every connection it makes with its clients, communities, and employees. As of 2024, it serves over 69 million clients worldwide and manages assets surpassing $3.2 trillion.

Logo of Bank of America

Source: the company.

My work

Agnes worked for Corporate and Investment Banking division where the Loan Closing department manages the operational, legal, and financial processes associated with syndicated loans and structured finance products, including CDOs.

Upon completion of the training program, Agnes assumed responsibility for a portfolio of Collateralized Debt Obligation transactions valued at over 500 million USD. These transactions primarily involved American and British corporate borrowers. A Loan Closer in the Collateralized Debt Obligation (CDO) market, especially around 2007 (before the financial crisis hit), had a very specific but crucial operational and legal role within structured finance desks, investment banks, and loan syndication units.

Collaterized Debt Obligation market

Source: Allied Market Search

Her core responsibilities included: transaction management & documentation, coordination with internal and external stakeholders, funding & settlement oversight, recordkeeping & compliance, and fee and payment management.

Transaction Management & Documentation

Coordinate the closing process for syndicated loans that would be bundled into CDO portfolios.
Review and manage documentation for accuracy and completeness, including loan agreements, credit agreements, security agreements, intercreditor agreements, and other ancillary documents.
Ensure all closing conditions precedent (CPs) and legal requirements were satisfied prior to disbursement of funds and inclusion in a CDO structure.

Coordination with Internal and External Stakeholders

Act as a liaison between deal teams, syndicate desks, investors, legal counsel, custodians, trustees, and rating agencies.
Coordinate closing calls and circulate closing memos summarizing the deal structure, participant roles, and transaction details.

Funding & Settlement Oversight

Manage the transfer of ownership documentation and ensure timely settlement with custodians or agents.
Track and confirm receipt of wire instructions, fee payments, and disbursement of funds.

Recordkeeping & Compliance

Maintain detailed records of closing checklists, loan documents, approvals, waivers, and amendments.
Ensure compliance with regulatory guidelines and internal credit risk policies.
Flag any discrepancies, missing documentation, or legal exceptions to management.

Fee and Payment Management

Confirm payment of closing fees, commitment fees, arrangement fees, and legal fees associated with each transaction.
Manage post-closing adjustments and corrections if necessary.

Required skills and knowledge

This position required a high level of technical precision, attention to detail, and effective coordination with stakeholders located in multiple international offices.

The role of a Loan Closer in the CDO market requires a combination of technical knowledge, legal expertise, and strong organizational skills. Below are the key skills and knowledge areas that were important in 2007:

Technical Skills

Understanding of Structured Finance: Knowledge of CDOs, CLOs, and the broader structured credit market, including the mechanics of asset-backed securities.
Financial Analysis: Ability to assess loan portfolios, evaluate risk, and understand credit ratings and eligibility criteria for collateral.
Knowledge of Loan Syndication: Familiarity with syndicated loan markets, participants, loan documentation, and the process of loan syndication.
Excel and Financial Modeling: Proficiency in Excel for tracking loan data, financial calculations, and ensuring proper documentation management.
Familiarity with Loan Documentation: Deep understanding of key legal documents, such as loan agreements, credit agreements, intercreditor agreements, and collateral agreements.

Desirable Soft Skills

Effective Communication: Ability to communicate complex financial and legal information to a range of stakeholders, including senior managers, legal teams, investors, and rating agencies.
Attention to Detail: Thorough review of all documentation and loan conditions to ensure accuracy, consistency, and compliance with all requirements.
Strong Organizational Skills: Ability to keep track of numerous documents, deadlines, approvals, and closing conditions in a fast-paced, high-pressure environment.
Problem-Solving Abilities: Ability to identify discrepancies or issues with documentation or compliance and proactively resolve them to ensure smooth transaction closures.

What I learned

The primary outcomes of this role included:

Developing a comprehensive understanding of CDO structures and associated operational processes.
Gaining experience in managing cross-border financial transactions within a regulated environment.
Acquiring practical skills in transaction lifecycle management, documentation review, and risk control procedures.
Building competencies in stakeholder coordination within geographically dispersed, multicultural teams.

Financial concepts related to my job

I present below three financial concepts related to my work:

Collateralized Debt Obligation (CDO) Structures

A CDO is a financial product that combines different types of debt (like loans) into one package. It’s then divided into different levels (or “tranches”) based on risk. Some parts of the CDO offer higher risk and higher returns, while others offer lower risk and returns. The Loan Closer ensures the loans are eligible to be included in these CDOs and that all paperwork is in order.

Syndicated Loans

These are loans provided by a group of banks or lenders, rather than just one. The Loan Closer’s role is to make sure the loans are properly documented and structured before they are bundled into CDOs (Collateralized Debt Obligations). These loans are used in CDOs because they are easier to manage and provide diverse investment options.

Loan Documentation and Covenants

Loans come with legal agreements that outline the terms and conditions, including rules called covenants that limit what the borrower can or can’t do. These covenants are important for managing risk, especially in CDOs. The Loan Closer ensures that all the legal documents are correct and that the covenants are clear and in place to protect the lenders.

Useful resources

Business Research Insights Collateralized Debt Obligation Market Size, Share, Growth, and Industry Analysis by Type (Collateralized loan obligations (CLOs), Collateralized bond obligations (CBOs), Collateralized synthetic obligations (CSOs), and Structured finance CDOs (SFCDOs)) By Application (Asset Management Company, Fund Company, and Other), Regional Insights and Forecast From 2025 To 2033

Anna Katherine Barnett-Hart The Story of the CDO Market Meltdown: An Empirical Analysis Harvard Kennedy School.

About the author

The article was written in May 2025 by Agnes POLIS (ESSEC Business School, Mastère Specialisé Direction Financière et Contrôle (MS DFC), 2024-2026).

My Internship Experience at Impact Hub Shanghai

April 8, 2025 by Yirun WANG

In this article, Yirun WANG (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2024-2025) shares her internship experience at Impact Hub Shanghai, a global network focused on empowering sustainable business innovation. As an Inclusive Innovation intern, I had the opportunity to contribute to impactful projects while gaining valuable insights into sustainability, entrepreneurship, and cross-sector collaboration. This experience not only deepened my understanding of sustainable consumption but also connected me to the broader world of impact investing and the financial ecosystem that supports sustainable development.

About the company

Impact Hub Shanghai is part of a global network of over 100 hubs in 60+ countries, dedicated to fostering sustainable business practices and social innovation. The organization supports entrepreneurs, startups, and corporations in driving positive changes through initiatives like sustainability advocacy, innovation consulting, and impact investment services.

Impact Hub Shanghai’s mission is to inspire, enable, and connect individuals and organizations to create a more sustainable and inclusive future. Their work spans various sectors, including climate action, circular economy, sustainable consumption and gender equality, making them a key player in China’s sustainability ecosystem.

Logo of the Impact Hub Shanghai.
Logo of Impact Hub Shanghai
Source: the company.

My internship

During my two-month internship, I worked as a Business Development and Marketing Assistant, supporting projects related to sustainable consumption, circular economy, and inclusive innovation. This role allowed me to engage in diverse tasks, from industry research and branding to event planning and client communication, while also exploring the intersection of sustainability and finance.

My missions

As an intern, I was involved in several key activities:

Business Development: I conducted industry research and prepared three industry reports on topics like sustainable consumption and the transition to net zero. This involved analyzing market trends, identifying opportunities for innovation, and summarizing findings for internal and external stakeholders.
Branding & Communication: I contributed to the development of an Integrated Marketing Communication plan and wrote/edited WeChat manuscripts to promote Impact Hub Shanghai’s initiatives. This required creativity, attention to detail, and an understanding of the target audience.
Event Planning: I supported the planning and execution of three events, including the RISE UP! Sustainable Life Fest, which aimed to raise awareness about sustainable living. I also assisted in organizing two offline events, which involved coordinating with partners, managing logistics, and ensuring smooth execution.

Required skills and knowledge

This internship was an excellent opportunity for students like me, who are passionate about sustainability and business innovation. While it didn’t require specialized expertise, the role demanded a strong foundation in business concepts, research skills, and the ability to adapt quickly to new challenges.

Key skills included:

Analytical Thinking: Interpreting data and trends to support decision-making.
Communication: Crafting clear and compelling messages for diverse audiences.
Teamwork: Collaborating with colleagues and external partners to achieve common goals.
Adaptability: Learning new tools and approaches to address emerging challenges.

Additionally, staying updated on sustainability trends and understanding the broader context of social and environmental issues were crucial for contributing effectively to the team’s efforts.

What I learned

This internship was a transformative experience, providing me with a deeper understanding of sustainable business practices and the role of innovation in driving positive change. I gained practical skills in research, branding, and event management, which are applicable to future roles in sustainability and business development.

One of the most valuable lessons was the importance of collaboration and cross-sector partnerships in addressing complex global challenges. Working with diverse stakeholders, from entrepreneurs to corporate leaders, taught me how to navigate different perspectives and find common ground for impactful solutions.

Related financial concepts

I detail below three financial concepts related to my internship: Impact Investing & Sustainable Investment, Circular Economy & Net-Zero Transition, and Corporate Social Responsibility (CSR) & Branding.

Impact Investing & Sustainable Investment

Exposure to Impact Hub Shanghai’s investment arm deepened my understanding of how impact investing firms assess sustainability-driven ventures. I gained insight into how capital is allocated to businesses that generate financial returns while driving positive social and environmental outcomes.

Circular Economy & Net-Zero Transition

My work on industry reports deepened my understanding of business models focused on resource efficiency and carbon neutrality. My work on the RISE UP! Sustainable Life Fest highlighted the importance of sustainable consumption in reducing environmental impact. Through this project, I learned how businesses can align their strategies with sustainable consumption principles, such as offering reusable products, reducing packaging waste, and promoting circular economy practices.

Corporate Social Responsibility (CSR) & Branding

My internship also exposed me to the broader financial ecosystem that supports sustainability. From green bonds to ESG investing, I gained insights into how financial markets are evolving to prioritize sustainability. I gained insight into how companies integrate sustainability into their brand identity and business strategies to create positive social impact.

Why should I be interested in this post?

My internship at Impact Hub Shanghai reinforced my belief in the power of business and finance to drive positive change and equipped me with the tools to contribute meaningfully to a more sustainable future if you are also interested in sustainable and responsible investment concepts.

Useful resources

Impact Hub

Global Reporting Initiative (GRI)

World Economic Forum What are green bonds and why is this market growing so fast?

Sustainable Finance

Global Impact Investing Network What you need to know about impact investing?

United Nations Development Programme Harnessing Financial Instruments for Impact Investing

About the author

The article was written in April 2025 by Yirun WANG (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2024-2025).

My internship experience in Business Development at Pelikan Mobility

April 7, 2025 by Pablo COHEN

In this article, Pablo COHEN (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2024–2025) shares insights from his internship experience in Business Development at Pelikan Mobility.

About the company

Pelikan Mobility is a French startup founded in 2022 that provides tech-enabled leasing solutions for electric vehicle (EV) fleets, emphasizing an EV-native and operations-centric approach. The company leverages digital twin technology and optimization algorithms to offer customized, cost-effective leasing options that enhance the productivity and efficiency of mission-critical, last-mile, and middle-mile commercial fleets.

In March 2024, Pelikan Mobility raised a €4 million seed funding round from investors including Pale Blue Dot, Frst, and Seedcamp. The company’s mission is to make commercial fleet electrification scalable and cost-effective by addressing inefficiencies in EV adoption and providing solutions related to fleet management, charging infrastructure, energy optimization, and route planning.

Logo of Pelikan Mobility.

Source: the company.

My internship

As an intern, I joined the Business Development team at a time when Pelikan Mobility had fewer than 10 employees. The startup environment allowed me to participate in various cross-functional activities beyond my designated team. My primary focus was on analyzing the annual and CSR reports of prospective clients, identifying operational data related to their vehicle fleets and emissions strategies.

My missions

My role involved conducting in-depth research on companies’ operations to estimate their Scope 1, 2, and 3 emissions and assess how aligned they were with their publicly stated sustainability roadmaps. By examining the size and composition of their vehicle fleets and analyzing their emission reduction goals, I was able to generate strategic reports evaluating their potential as Pelikan clients. These reports were used to segment companies by sector—such as utilities, maintenance, and delivery—and tailor use cases and pitch decks accordingly.

The objective was to demonstrate that by optimizing EV use through Pelikan’s tools, companies could significantly reduce their emissions while increasing their return on investment by lowering total cost of ownership (TCO) over time. Our analyses guided companies in selecting the most operationally suited EV models, thereby improving vehicle lifetime value and reducing long-term costs.

Required skills and knowledge

Success in this role required familiarity with emissions reporting methodologies and a solid understanding of how to read and interpret annual reports. I had to be well-versed in corporate sustainability roadmaps and regulations, particularly French mandates that require companies to incrementally electrify their fleets. Awareness of client motivations—mainly cost reduction or revenue growth—was key to positioning Pelikan’s offer persuasively. Demonstrating profitability first and sustainability second was essential in our outreach efforts.

What I learned

This internship gave me a front-row seat to the intersection of regulation, sustainability, and business operations. I discovered how procurement officers adopt new technologies—not just through cost-benefit analysis, but also through trust, relationship-building, and presentation. I gained a deeper understanding of how regulation shapes corporate decision-making and realized the importance of awareness and education in encouraging sustainable transitions. Just like in fine dining, how the idea is presented is often as important as the idea itself.

Financial concepts related my internship

I present below three financial concepts related to my internship: total cost of ownership, regulatory risk, and sustainability reporting.

Total Cost of Ownership (TCO)

TCO refers to all costs associated with acquiring and operating a vehicle over its lifespan. For EV fleets, this includes not only the purchase or lease cost but also charging infrastructure, electricity prices, maintenance, downtime, and resale value. At Pelikan, our role was to show that, despite higher upfront costs, the long-term operational savings with EVs often made them more cost-effective than internal combustion engine (ICE) vehicles.

Regulatory risk

Companies today face increasing regulatory pressure to decarbonize. Non-compliance with environmental laws—such as failing to electrify a mandated percentage of fleet vehicles—can lead to financial penalties or reputational harm. Our value proposition directly addressed this risk by helping companies stay compliant through optimized EV integration, reducing exposure to regulatory fines.

Sustainability reporting

Reliable measurement and reporting of emissions from both ICE vehicles and EVs are essential for effective sustainability disclosure. We helped companies track and report their Scope 1 emissions (from owned fleets) accurately. This data was not only critical for compliance but also for setting realistic, measurable goals in their CSR strategies.

Why should I be interested in this post?

This post offers a firsthand look at how sustainability, operations, and finance intersect in a startup environment. If you’re interested in working in sustainable finance, ESG consulting, or mobility innovation, this experience demonstrates how regulatory knowledge, financial analysis, and persuasive communication come together in real-world client engagement. The strategic and technical skills developed here are highly transferable to roles in consulting, private equity, or corporate sustainability teams.

Useful resources

Pelikan Mobility

Tech.eu (21/03/2024) Pelikan Mobility Seed Funding Announcement

TechCrunch (21/03/2024) Pelikan Mobility is building a software-enabled commercial EV leasing solution

Charged EV (29/03/2024) Pelikan Mobility raises €4 million in funding for its EV fleet management software platform

About the author

This article was written in April 2025 by Pablo COHEN (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2024–2025).

My internship experience at Natixis

February 7, 2025 by 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.

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).

My internship experience at Shenwan Hongyuan Securities

January 27, 2025 by Hongting LIU

In this article, Hongting LIU (ESSEC Business School, Strategy Management and International Business Program , 2021-2022) shares her first internship experience during the Bachelor as a Key account manager Assistant at Shenwan Hongyuan Securities Underwriting Sponsor Co., Ltd., one of China’s leading financial institutions.

About the company

Shenwan Hongyuan Securities is one of China’s largest and most prestigious financial service providers, with a history spanning several decades. The company specializes in a wide range of financial services, including investment banking, securities trading, and wealth management. Its underwriting and sponsor division focuses on supporting corporate clients with Initial Public Offering s (IPOs, when a private company sells its shares to the public for the first time on a stock exchange to raise capital), bond issuances (selling of debt in financial markets), and other capital-raising activities in both domestic and international markets.

Logo of Shenwan Hongyuan Securities.

Source: Shenwan Hongyuan Securities.

As a key player in China’s financial ecosystem, the company’s underwriting sponsor division plays a vital role in connecting businesses with investors and facilitating the growth of the capital markets.

My internship

During my two-month internship as a Marketing Communication Assistant, I worked closely with the investment and marketing teams to manage client communications and support capital market activities. This experience provided me with a comprehensive understanding of financial marketing and client relationship management in a dynamic and fast-paced environment.

My missions

As an intern, I supported my manager in providing financial advice to clients by assisting with research and analysis. I helped gather relevant financial news, market trends, and economic activities that could contribute to investment insights. I was involved in compiling and summarizing data on the performance of stocks. I also contributed to the creation of reports and presentations, helping to organize tables, charts, and visual aids to illustrate the performance of our portfolio. This involved tracking portfolio performance and comparing it to market benchmarks to provide a clearer picture for clients. Additionally, I assisted in preparing marketing materials for our financial products and services.

Required skills and knowledge

This role is an entry level internship for students studying in business schools. While it didn’t demand specialized financial expertise, the ability to quickly absorb and apply general financial knowledge from business school courses was essential. The position required strong analytical skills to interpret and synthesize market data into meaningful insights, and an understanding of the tools necessary for analysis, such as Python, PowerBI, and Excel, was also important. These tools were introduced through short training sessions, and I had to quickly get up to speed with them in order to support the team effectively. Effective communication and relationship management were important for maintaining trust with clients. It was essential to understand the different need of clients, think from the client’s perspective and anticipate their needs to ensure their satisfaction. Their needs can be achieve certain financial goals, take risky choices, take safer choices, prepare for the retirement, prepare for the study of children, etc. Additionally, the role required me to stay updated with financial news and market trends, often reading numerous articles and analyzing charts to gather relevant information. Overall, the position required a quick learning curve, adaptability to new tools, and an ability to keep a client-centric mindset while managing a high volume of information

What I learned

This internship was particularly meaningful as my first experience in the financial industry. It offered a general yet valuable introduction to the securities sector, making it an ideal starting point for anyone without an extensive financial background. The experience allowed me to build a foundational knowledge of capital markets and develop practical skills applicable to future roles in the industry. Additionally, I gained firsthand experience in building and maintaining professional relationships, a skill that is invaluable in any client-facing role.

Financial concepts related to my internship

Investment research

One of my key tasks involved analyzing market information and providing clients with investment insights. This required understanding market trends, stock valuations, and risk factors to guide client decisions.

Securities underwriting

Supporting the preparation of underwriting materials exposed me to the intricacies of the IPO process, including pricing strategies and regulatory compliance.

Risk management

Timely updates on market conditions and financial products emphasized the importance of risk assessment in investment decisions, a critical aspect of client advisory roles in this field.

Personal financial awareness

During my internship, I developed a deeper understanding of personal financial management, recognizing the importance of financial planning and investment strategies. This experience gave me a clearer direction for managing my own finances, from evaluating risk tolerance to exploring diversified investment opportunities, laying a foundation for long-term financial security.

Why should I be interested in this post?

This internship experience is interesting for bachelor students who want to work in finance in the future. It is also a good opportunity for Master students who want to develop in finance but have few financial practical experiences. This experience highlights the importance of blending technical knowledge with client relationship skills. The internship also provides valuable exposure to the dynamic world of securities underwriting and investment advisory, making it an excellent steppingstone for a career in finance.

Useful resources

Shenwan Hongyuan Securities – Official Website

About the author

The article was written in January 2025 by Hongting LIU (ESSEC Business School, Strategy Management, and International Business, 2021-2022).

My Internship Experience as a Corporate Finance Analyst in the 2IF Department of Inter Invest Group

January 16, 2025 by Anouk GHERCHANOC

In this article, Anouk GHERCHANOC (IE University, Bachelor in Business Administration (BBA), 2021-2025) shares her experience as a financial analyst for companies in the French overseas territories in the 2IF Department of the Inter Invest Group.

About Inter Invest Group

Founded in 1991, the Inter Invest Group is a significant player in the financing and investment sector. Based in Paris, the group operates in various fields, including corporate finance, real estate projects, and wealth management advice. Thanks to its expertise and ability to offer tailor-made solutions, the Inter Invest Group supports its clients’ development strategies. Its authorization by the Autorité de Contrôle Prudentiel et de Résolution (ACPR, CIB 17808) guarantees rigorous and transparent financial practices, reinforcing its reputation as a trusted partner for private individuals, companies, and institutional investors.

Logo of Inter Invest Group.

Source: the company.

During my internship in 2024, I joined the 2IF department, which specializes in providing financing solutions for companies in French overseas territories (Guadeloupe, Martinique, Saint-Martin, Saint-Barthélemy, French Guiana, Réunion, Mayotte, French Polynesia, New Caledonia). Central to the department’s operations is the SOFIDOM offer, a financing scheme designed to address the specific needs of businesses in these regions. This offer supports companies by providing funds for equipment renewal, business expansion, and operational costs, whether the financing falls under tax exemption schemes or not. A key priority of the department is to deliver rapid and efficient responses to financing requests, allowing businesses to move forward with their projects without delays. This approach ensures efficiency and reflects a deep understanding of the unique economic and logistical challenges faced by companies in French overseas territories, enabling tailored financial support that meets local needs.

My internship

My internship in the 2IF department of the Inter Invest Group was a rewarding and formative experience. This department, which specializes in financing companies located in the French overseas territories, enabled me to actively contribute to assessing financing requests for small businesses. These businesses included newly established structures seeking to develop their activities and others facing financial difficulties requiring appropriate support.

An essential part of my job was analyzing the financial files, taking into account the specific economic features of the overseas territories, particularly their geographical remoteness, operating costs, and dependence on key sectors such as construction and food processing. This enabled me to develop an in-depth understanding of the unique challenges faced by these businesses while applying my theoretical knowledge of finance to real-life situations.

The 2IF department stands out for its responsiveness and efficiency, two essential assets for responding to companies’ immediate needs. This dynamic has led me to work to tight deadlines, requiring clear task prioritization and rapid but rigorous decision-making. Combining these demands with detailed financial analysis taught me to balance precision and efficiency, an essential skill in the financial sector.

Financed overseas territories.

Source: the company.

My missions

Verification of document conformity. My first task was to ensure the conformity of the financial and legal documents submitted by companies as part of their application for financing. I rigorously analyzed the conformity of balance sheets, income statements, Kbis (a document that certifies the legal existence of a French company), company articles of association, bank or personal guarantees, and bank statements for the last three months. These checks were carried out in compliance with LCB-FT (Lutte Contre le Blanchiment et le Financement du Terrorisme) obligations to identify any inconsistencies or irregularities in the data provided. For example, some files revealed anomalies in the financial statements or bank movements, which led to an in-depth review of the projects before a financing decision could be made. This verification stage was essential to lay a solid foundation for a reliable financial analysis and to ensure regulatory compliance.

In-depth financial analysis. Once the documents had been validated, I conducted in-depth financial analyses using key indicators such as profitability, solvency, and liquidity ratios. Specific calculations supplemented these analyses to refine the assessment of the companies, including the net debt ratio to measure their dependence on debt, the operating margin to assess the efficiency of core activities, the net operating profitability to analyze their ability to generate sustainable profits, and the level of equity about the total balance sheet to assess their financial strength. My analyses were based mainly on the passive balance sheets of the last two years and the profit and loss accounts, supplemented by a study of interim sales, to obtain an up-to-date and accurate view of the companies’ performance. Thanks to this methodology, I could identify significant elements, such as differences in financial structure or revenue dynamics, which were used to support my favorable or cautious recommendations.

Preparation of structured reports. The conclusions of my analyses were then summarized in detailed reports, structured around several key sections: presentation of the company, its directors and partners, description of the financing plan requested, in-depth analysis of the balance sheets and income statements, assessment of the sureties proposed and viability of the guarantees provided. Finally, I drew a reasoned conclusion on the financing request, with a favorable, reserved, or unfavorable opinion, depending on the case. These reports were then submitted to the Director of Financing, responsible for making the final decision. He could give conditional approval, requiring adjustments to the financing plan depending on his feedback.

Required skills and knowledge

My skills in financial accounting, operations management, corporate finance, and financial analysis, which I applied through my university education, played an essential role in effectively executing my day-to-day analyses. These skills enabled me to evaluate financial data and provide actionable information. My expertise in Excel proved invaluable in accurately processing balance sheets, cash flows, and income statements, enabling me to identify patterns, assess financial health, and make strategic recommendations. In addition, my mastery of Power BI helped me to design dynamic and visually appealing reports for the board of directors. These reports summarize the department’s financial results and strategic objectives, providing a clear and actionable overview that facilitates informed decision-making at the management level, a task I was given during my internship. Together, these tools enhanced the depth and effectiveness of my analyses, ensuring that critical points were addressed and presented with clarity.

On an interpersonal level, my soft skills played a key role in meeting the demands of my assignments. My ability to approach problems analytically enabled me to break down complex issues and propose practical, data-driven solutions. Effective organization and prioritization of tasks were essential in managing competing deadlines, ensuring that every product delivered met the high standards expected within the department. In addition, my strong communication skills enabled me to articulate written and verbal results.

Working in a fast-paced, dynamic environment increased my flexibility and responsiveness, enabling me to adapt to changing priorities and unexpected challenges without compromising quality. This adaptability has proved essential in managing multiple responsibilities simultaneously while maintaining a strategic focus on key objectives. Overall, the combination of technical expertise and non-technical skills I developed during this internship has greatly enhanced my ability to contribute effectively to financial projects.

What I learned

This internship was a vibrant learning experience that enabled me to move from academic theory to professional practice. I developed concrete expertise in financial analysis, particularly in evaluating financing applications and interpreting economic data. I have also honed my ability to detect anomalies in financial documents while producing clear, structured reports essential for supporting strategic decisions.

One of the priorities of my assignments was to provide a rapid, well-argued response to the acceptance or rejection of financing requests. Working to tight deadlines enabled me to strengthen my time management skills and develop my ability to manage multiple priorities effectively. This experience prepared me for complex challenges in the demanding finance sector.

The internship also confirmed my ambition to pursue a career in finance, making the most of my analytical skills and my interest in projects with a strong economic and social impact. The opportunity to work on concrete projects in a demanding, structured environment gave me a better understanding of the complexity of corporate finance and the importance of personalized support to ensure the success of projects.

Financial concepts related my internship

I present below three financial concepts related my internship: net margin, shareholders’ equity, and cash flow.

Net margin

During my internship, net margin came to the fore as a key indicator in company valuations. This ratio, calculated from net income divided by sales, measures a company’s ability to generate profits after covering all its costs, including tax and financial expenses. This analysis enabled me to understand the overall performance of the companies I studied and their ability to maintain a sufficient level of profit to sustain growth or cope with unforeseen financial events. I could identify the companies’ structural strengths and weaknesses by examining the net margin. High profitability reflected effective cost management, reasonable control of monetary expenses, and efficient operational activity. Conversely, low or negative profitability could indicate problems such as insufficient margins, an overly heavy cost structure, or competitive pressure on prices.

For example, one construction company I analyzed had a stable net margin thanks to rigorous management of operating costs and efficient project planning. This cost control, combined with the diversification of its contracts, reinforced my recommendation in favor of financing to modernize its equipment fleet and support its expansion into new markets. Conversely, a company in the agri-food sector showed a negative net margin. This was due to a significant rise in raw material costs, which had not been passed on to its sales prices, considerably reducing its margins.

Shareholders’ equity

Shareholders’ equity is essential for assessing a company’s financial strength. It comprises share capital, reserves, and retained earnings and appears on the liabilities side of the balance sheet. These elements are crucial in measuring a company’s ability to finance its activities over the long term, absorb losses, and limit its dependence on creditors. Share capital represents the contribution made by shareholders at the time of the company’s creation or capital increase, while reserves correspond to retained earnings used to strengthen shareholders’ equity. Retained earnings are profits or losses from previous years, reflecting the company’s past performance. Solid shareholders’ equity reflects the company’s financial stability, enabling it to withstand economic crises and finance its projects without excessive borrowing. This reduces the risk to creditors and allows the company to obtain more advantageous financing terms.

Within the 2IF department, a strict rule applied specifically to tax-exempt financing. The latter, governed by precise criteria, required that the equity shown in the last balance sheet liabilities exceeded half of the company’s share capital. This requirement guaranteed a solid financial base and minimized the risks for tax-exempt projects. If this condition was not met, the application for tax-exempt financing could not be accepted.

Cash flow

Cash flow analysis was essential to my work, in compliance with LCB-FT (Lutte Contre le Blanchiment et le Financement du Terrorisme) standards. It was based on examining the companies’ last three minimum bank statements, enabling me to assess their capacity to absorb the financial burden associated with the requested financing.

Based on these statements, I analyzed the consistency between payments received and contracts provided while checking for any other significant debts that might limit their financial room for maneuvering. This approach also ensured the traceability of financial flows and detected anomalies, such as unjustified transfers or discrepancies between actual transactions and the declarations provided. By ensuring complete transparency of financial operations, this cash flow analysis played a decisive role in formulating my recommendations and ensuring the company had the necessary resources to manage its current commitments and the requested financing.

Why should I be interested in this post?

This article is aimed at students and young professionals wishing to better understand the particularities of corporate finance, especially in the French overseas territories. It focuses on analyzing the unique challenges of these regions and applying key skills in financial analysis, risk management, and strategic decision-making. The Inter Invest Group offers a unique opportunity to gain practical experience and contribute to relevant financial projects.

Useful resources

Inter Invest Group

Inter Invest Overseas

Banque de France Les fonds propres des TPE et PME

AMF Règlementation LCB-FT

Autorité de contrôle prudentiel et de résolution (ACPR)

About the author

The article was written in January 2025 by Anouk GHERCHANOC (IE University, Bachelor in Business Administration (BBA), 2021-2025).

How is it to be in the Deals Department at PwC Tunisia?

December 30, 2024December 27, 2024 by Majd MAHRSI

In this article, Majd MAHRSI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025) shares his professional experience during a six-month internship in the Deals department at PwC Tunisia. This experience provided me with invaluable insights into the world of finance and consulting.

About PwC Tunisia

PricewaterhouseCoopers (PwC) is one of the Big Four accounting firms and a global leader in professional services. Founded in 1998 from a merger between Price Waterhouse and Coopers & Lybrand, PwC has grown to provide assurance, advisory, and tax services in over 150 countries. The firm’s expertise spans industries ranging from technology and healthcare to banking and energy, offering tailored solutions to address complex business challenges.

PwC Tunisia, established to cater to the needs of the North African market, has been pivotal in advising local and international businesses. Its Deals department focuses on transaction advisory services, mergers and acquisitions (M&A), and financial due diligence, enabling clients to make informed investment decisions in a dynamic economic environment.

Logo of PwC.
Logo of PwC Tunisia
Source: the company.

My Internship at PwC Tunisia

My six-month internship at PwC Tunisia was in the Deals department, where I gained hands-on experience in transaction services. This marked my first professional foray into finance, a field I had been eager to explore. The department’s primary function is to assist clients with financial due diligence, a critical process in mergers and acquisitions. This involves analyzing financial records, identifying risks, and providing actionable insights to clients, whether on the buy-side or sell-side of a transaction.

In addition to due diligence, the team supports clients in valuations and financial diagnostics, helping them assess a company’s worth and its operational health. I also had the opportunity to work on engagements where funds sought advice on the best timing to divest their assets, showcasing the strategic aspect of transaction services.

My Missions

My role in the Deals department was multifaceted and dynamic, encompassing a variety of tasks that were integral to the success of transaction services projects. One of my primary responsibilities was conducting financial due diligence. This involved scrutinizing a company’s financial statements to uncover risks, assess opportunities, and verify the accuracy of reported data. These analyses were essential for clients to make informed decisions during mergers or acquisitions.

Another critical mission was creating and reviewing financial presentations. Translating raw financial data into clear, insightful slides that adhered to PwC’s global presentation standards required both analytical and creative skills. These slides were often used in client meetings, making them a crucial part of the decision-making process.

I also worked on preparing financial diagnostics, which provided an overview of a company’s financial health, operational efficiency, and market position. Additionally, I contributed to the valuation process by gathering and analyzing market and company-specific data, supporting the team in determining an accurate and fair valuation for transactions.

Lastly, I played a role in ensuring the quality and coherence of final reports delivered to clients. This involved cross-referencing financial data, identifying inconsistencies, and collaborating with senior team members to refine insights. These tasks taught me the importance of precision and attention to detail in professional finance settings.

Required Skills and Knowledge

Working in the Deals department demands a solid foundation in finance and accounting, as well as proficiency in tools like Excel and PowerPoint. Creativity in crafting slides that effectively communicate complex information is crucial. Collaboration is another essential skill, as teams typically consist of up to five experts working closely together under tight deadlines.

In addition to technical skills, the role required resilience and stress management. The high-stakes nature of transactions meant that meeting deadlines was often challenging but rewarding. PwC provided a comprehensive onboarding program that covered essential aspects such as data security, corporate ethics, and professional standards, ensuring I was well-prepared for the role.

What I Learned during my internship at PwC Tunisia

This internship was a transformative experience that bridged the gap between theoretical knowledge and practical application. I enhanced my understanding of finance and accounting, particularly in the context of real-world corporate transactions. Working with seasoned professionals provided me with mentorship and insights into best practices.

The structured training sessions at the start of the internship also equipped me with valuable knowledge about legal, social, and ethical considerations in corporate settings. This holistic approach to professional development was instrumental in shaping my skills and career aspirations.

Financial Concepts Related to My Internship

Firm Valuation

Firm valuation is the process of determining the worth of a business, considering factors such as assets, liabilities, market conditions, and future earnings potential. In the context of transaction services, valuation is not just about calculating numbers—it’s about understanding the strategic rationale behind a transaction. For instance, during my internship, I assisted in gathering data to support valuations, including analyzing comparable companies, market trends, and financial projections. This work provided clients with critical insights into whether a deal was financially viable and strategically aligned with their goals.

Financial Due Diligence

Financial due diligence is an investigative process that provides an in-depth understanding of a company’s financial performance, risks, and opportunities. In transaction services, it involves verifying the accuracy of financial statements, assessing working capital needs, and identifying any hidden liabilities or operational inefficiencies. My role included evaluating financial metrics, analyzing trends, and ensuring that all data was thoroughly documented for client presentations. This process was pivotal in helping clients mitigate risks and make informed decisions during mergers and acquisitions.

Mergers and Acquisitions

Mergers and acquisitions (M&A) are strategic actions where companies combine forces or one entity acquires another to achieve growth, diversification, or operational efficiencies. Transaction services play a key role in these processes by providing financial and strategic insights. During my internship, I was involved in preparing data for M&A scenarios, including assessing synergies, analyzing cost structures, and estimating post-merger integration costs. This work highlighted the complexity of M&A transactions and the critical role of accurate financial analysis in ensuring their success.

Why Should You Be Interested in This Post?

This post is particularly relevant for ESSEC students aiming for careers in finance. An internship in PwC’s Deals department provides a solid foundation in financial analysis, due diligence, and strategic decision-making. For those aspiring to work in investment banking or private equity, this experience serves as a steppingstone, offering the skills and credibility needed to excel in competitive roles.

I encourage students to consider opportunities in international offices, where the competition for roles may be less intense, and the learning experience equally enriching.

Useful Resources

PwC

PwC Tunisie

Deloitte Due Diligence

About the Author

The article was written in December 2024 by Majd MAHRSI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025).

My Internship Experience in sales at DiliTrust

December 30, 2024December 27, 2024 by Majd MAHRSI

In this article, Majd MAHRSI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025) shares his professional experience as an intern in sales at DiliTrust.

About DiliTrust

DiliTrust is a global leader in corporate governance solutions, specializing in secure and innovative software designed to optimize board and executive operations. The company offers a suite of products, including board portals, legal entity management, contract lifecycle management, and financial analysis tools. With a presence in over fifty countries, DiliTrust serves a diverse range of clients, from multinational corporations to government organizations.

Founded on the principles of innovation and excellence, DiliTrust aims to empower organizations by enhancing decision-making and ensuring compliance with the highest standards of governance. Their flagship products enable seamless communication, secure data management, and efficient collaboration among stakeholders. DiliTrust is committed to sustainability, aligning its operations with ESG (Environmental, Social, and Governance) criteria to support global corporate responsibility initiatives.

Logo of DiliTrust.

Source: the company.

My Internship at DiliTrust

I completed a three-month internship at DiliTrust’s Dubai office, in the sales department, which manages operations across the Middle East and Africa. This branch is a critical hub for the company, contributing significantly to its global revenue. The internship was conducted in collaboration with the Institut Tunisien des Administrateurs (ITA), DiliTrust’s strategic partner in Tunisia.

During my tenure, I immersed myself in the dynamic field of corporate governance and gained firsthand experience in market expansion strategies. This experience allowed me to work on high-impact projects that directly contributed to the company’s growth and its efforts to enhance governance practices in emerging markets.

My Missions

My primary mission was to penetrate the Tunisian market by identifying and approaching potential clients, with the objective of securing contracts. This involved extensive market research, client outreach, and relationship building. In parallel, I served as the liaison between DiliTrust and ITA, managing all logistical aspects of their collaboration.

A standout moment during my internship was organizing a prestigious corporate governance event in Tunisia. This high-profile gathering featured global leaders, including the Vice President of the World Bank, the Governor of the Tunisian Central Bank, and Christian de Boissieu, a renowned economist. I was instrumental in coordinating the event’s logistics, from importing essential equipment to managing customs clearance. My responsibilities also included hosting key stakeholders, ensuring smooth communication, and facilitating meaningful discussions on governance practices.

Required Skills and Knowledge

Excelling in this internship required a diverse skill set. Strong organizational and project management abilities were critical for handling complex logistics and tight deadlines. Effective communication skills and social intelligence enabled me to interact confidently with senior executives and high-profile clients. Additionally, my multilingual proficiency (French, English, Arabic, and Tunisian dialect) was invaluable for building rapport and navigating cultural nuances.

Technical skills such as data analysis and proficiency in governance software further supported my role. My background in finance and leadership, cultivated through academic and extracurricular experiences, prepared me to tackle challenges with confidence and adaptability.

What I Learned during my internship at DiliTrust

This internship was a transformative experience that expanded my understanding of corporate governance and international business. I learned to navigate the complexities of market entry strategies, develop persuasive communication techniques, and manage cross-cultural collaborations. These experiences not only enhanced my professional competencies but also deepened my appreciation for the importance of governance in fostering sustainable business growth.

One key takeaway was the significance of agility and resourcefulness in overcoming unexpected challenges. For instance, coordinating customs processes and resolving last-minute logistical issues required quick decision-making and creative problem-solving. These lessons have equipped me with the resilience and adaptability needed to thrive in high-pressure environments.

Financial Concepts Related to My Internship at DiliTrust

Environmental, Social, and Governance (ESG)

Environmental, Social, and Governance (ESG) criteria are a framework for assessing how an organization integrates sustainability into its business model and operations. ESG considerations influence investment decisions, emphasizing long-term value creation while minimizing environmental and social risks. Understanding ESG is essential for navigating modern financial landscapes, where stakeholders demand transparency and ethical practices. My internship exposed me to the real-world application of ESG principles in governance, emphasizing their impact on business sustainability and stakeholder trust.

Good Governance

Good governance involves adhering to principles such as accountability, transparency, and ethical leadership. It is a cornerstone for maintaining investor confidence and ensuring operational efficiency. In a financial context, good governance reduces risks, enhances decision-making, and strengthens organizational integrity. My internship allowed me to observe the practical implementation of these principles, demonstrating their vital role in achieving strategic objectives and fostering sustainable growth.

Digitalization of Board Operations

Digitalization in board operations enhances efficiency, security, and collaboration by leveraging technology to streamline decision-making processes. This transition involves adopting digital tools for secure data management, virtual meetings, and automated workflows. The shift to digital platforms mitigates risks associated with manual processes and ensures compliance with regulatory standards. My exposure to digital governance solutions underscored their transformative impact on organizational agility and strategic alignment.

Why Should You Be Interested in This Post?

If you are an ESSEC student seeking a career in finance, this post highlights the value of gaining international exposure and practical experience in a dynamic and growing field. DiliTrust’s global presence and innovative approach to corporate governance make it an ideal company for interns looking to develop a strong foundation in governance and finance.

The internship offered opportunities to work on high-impact projects, interact with industry leaders, and build a professional network across borders. For students interested in finance, governance, or technology, DiliTrust provides a unique platform to explore these intersections in a real-world context.

Useful Resources

DiliTrust

Principles for Responsible Investment (PRI)

OECD Principles of Corporate Governance

Gartner IT Insights

About the Author

The article was written in December 2024 by Majd MAHRSI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025).

My Internship Experience as a Data Analyst at Africa Verify in Casablanca

December 30, 2024December 27, 2024 by Majd MAHRSI

In this article, Majd MAHRSI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025) shares his professional experience as a data analyst at Africa Verify in Casablanca, Morocco, highlighting the insights, skills, and financial knowledge gained during this intensive one-month internship.

About Africa Verify

Africa Verify is an innovative company based in Casablanca, Morocco, specializing in compliance and data analytics solutions. The company provides cutting-edge tools and services to detect financial crimes such as money laundering and to ensure compliance with international financial regulations. Africa Verify’s mission is to empower businesses and institutions with the technological capabilities needed to maintain transparency and ethical practices, fostering trust in financial systems.

The company operates at the intersection of technology, finance, and law, delivering solutions that leverage artificial intelligence (AI) and machine learning to enhance compliance processes. By collaborating with financial institutions, government entities, and multinational corporations, Africa Verify contributes to strengthening regulatory frameworks across African markets. Their expertise in data-driven decision-making and their commitment to innovation have established them as a leader in compliance technology.

With a focus on creating scalable and user-friendly solutions, Africa Verify is shaping the future of compliance management. Their flagship projects include AI-based tools for risk assessment, automated fraud detection systems, and platforms designed to streamline Know Your Customer (KYC) processes.

Logo of the company.
Logo of Africa Verify
Source: the company.

My Internship at Africa Verify

During my one-month internship at Africa Verify, I worked as a data analyst in their compliance department, contributing to an ambitious project designed to revolutionize financial compliance using artificial intelligence. This project aimed to build a tool capable of providing real-time legal and financial risk assessments by analyzing vast datasets with high accuracy and efficiency.

My responsibilities were divided into two main areas. For most of the internship, I focused on analyzing and categorizing historical data related to financial crimes. This work involved identifying patterns and anomalies, which were then used to train the AI system. In the final week, I observed and provided input for the project’s development team as they integrated these insights into the AI tool, ensuring it met compliance standards and addressed real-world challenges faced by financial institutions.

My Missions

My primary mission was to support the development of an AI-driven compliance tool capable of detecting money laundering and other financial crimes. This required extensive research into existing money laundering typologies and compiling case studies to create a database that could serve as a training set for the AI model.

Another key task involved analyzing the effectiveness of current compliance measures. By identifying gaps and inefficiencies, I contributed to refining the AI system’s algorithms, ensuring its outputs were not only accurate but also actionable for clients. The work required a meticulous approach to data organization, as well as collaboration with the development team to translate analytical insights into technical specifications.

Additionally, I participated in the strategic planning sessions for the AI tool’s rollout, offering a data analyst’s perspective on how the product could be optimized for different market segments. This provided a unique opportunity to bridge the gap between technical development and business strategy.

Required Skills and Knowledge

This internship demanded a combination of technical expertise and interpersonal skills. Strong analytical abilities were crucial for understanding complex datasets and extracting meaningful insights. Proficiency in tools such as Excel and Python, as well as familiarity with statistical methods, were indispensable for the data analysis tasks.

Equally important were soft skills, including adaptability and cultural sensitivity. Working in a foreign country required me to quickly integrate into a new team and build rapport with colleagues from diverse backgrounds. Effective communication and teamwork were essential, especially when collaborating with legal experts, developers, and other stakeholders to align on project goals.

The ability to manage time effectively and prioritize tasks under tight deadlines was another critical skill. My previous experiences in data analysis and project management helped me navigate these challenges, allowing me to contribute meaningfully to the project.

What I Learned during my internship at Africa Verify

This internship was a profound learning experience that expanded my knowledge of compliance and financial risk management. I gained a deeper understanding of the role that data plays in shaping regulatory practices and how technology can be leveraged to enhance these processes. Specifically, I learned how AI and machine learning models are trained, tested, and deployed to address real-world compliance challenges.

The experience also underscored the importance of cross-functional collaboration. Working alongside experts in law, technology, and finance taught me to appreciate the interdisciplinary nature of compliance projects. I learned how to navigate the complexities of aligning diverse perspectives to achieve a common objective.

On a personal level, the internship enhanced my adaptability and resilience. Overcoming cultural and logistical challenges in a new environment reinforced my ability to thrive in dynamic, high-pressure settings.

Financial Concepts Related to My Internship

I detail below three concepts that were useful during my internship: Money Laundering, Financial Action Task Force (FATF), Know Your Customer (KYC) and Compliance.

Money Laundering

Money laundering is a complex process by which criminals disguise the origins of illegally obtained funds to make them appear legitimate. This involves three stages: placement (introducing illicit funds into the financial system), layering (moving funds through a series of transactions to obscure their origin), and integration (reintroducing funds into the legitimate economy). Understanding these stages was crucial during my internship, as I analyzed case studies to identify patterns and behaviors that the AI system could detect.

The work emphasized the need for robust detection mechanisms to combat money laundering, as traditional methods are often slow and resource-intensive. By incorporating these insights, the AI system aims to automate detection processes, significantly enhancing the efficiency and accuracy of compliance operations.

Financial Action Task Force (FATF)

The Financial Action Task Force (FATF) is an intergovernmental organization that sets global standards to combat money laundering, terrorist financing, and other financial crimes. FATF’s recommendations serve as a benchmark for national and institutional compliance programs, emphasizing risk-based approaches and robust monitoring systems.

My internship required an in-depth understanding of these recommendations to ensure that the AI-driven compliance tool adhered to international standards. This involved studying FATF guidelines to identify key compliance metrics that the tool needed to address. The experience underscored the importance of aligning technology with regulatory frameworks to enhance its credibility and usability in global markets.

Know Your Customer (KYC) and Compliance

Know Your Customer (KYC) refers to the process of verifying the identity of clients to prevent financial crimes such as money laundering, fraud, and terrorist financing. Effective KYC measures include identity verification, due diligence, and ongoing monitoring of client activities. These processes are essential for maintaining the integrity of financial systems and ensuring compliance with regulatory requirements.

During my internship, I contributed to the development of an AI tool designed to streamline KYC processes. The tool uses automated data collection and analysis to enhance the efficiency of identity verification and risk assessment. This not only reduces the time and cost associated with traditional KYC measures but also minimizes errors and improves compliance outcomes. The project highlighted the transformative potential of technology in simplifying complex regulatory procedures.

Why Should You Be Interested in This Post?

This post is particularly relevant for ESSEC students interested in pursuing careers in compliance, risk management, or data analytics. Africa Verify offers a unique opportunity to work on cutting-edge projects that combine finance, technology, and law. Additionally, earning certifications such as the ACAMS (Certified Anti-Money Laundering Specialist) can set you apart in the competitive job market by demonstrating expertise in anti-financial crime measures.

The internship provides hands-on experience in solving complex compliance challenges, fostering a deep understanding of how data and technology are reshaping the financial industry. It is an excellent opportunity to build a professional network and develop skills that are highly valued in today’s global job market.

Useful Resources

Africa Verify

Financial Action Task Force (FATF)

Financial Action Task Force (FATF) FATF Recommendations

ACAMS

About the Author

The article was written in December 2024 by Majd MAHRSI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2021-2025).

My Internship Experience in the Corporate & Investment Banking division of IMI – Intesa Sanpaolo

March 4, 2025December 27, 2024 by Andrea ALOSCARI

In this article, Andrea ALOSCARI (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2024-2025) shares his professional experience as a Summer Intern in the Corporate & Investment Banking Division of IMI – Intesa Sanpaolo.

About IMI – Intesa Sanpaolo

IMI – Intesa Sanpaolo is one of the largest and known banking groups in Italy, standing at the forefront of the Italian financial system and among major international banking groups. Based on the creation by the merger of two historic Italian banks, IMI – Intesa Sanpaolo stands today for innovation and sustainability as a leader in financial services. It operates a variety of services ranging from retail to corporate and investment banking, serving a vast clientele of millions of individuals and companies worldwide. It is committed long-term to creating value for its clients through sustainable performance combined with social responsibility.

Market Hub is Intesa Sanpaolo Group’s specialized department within IMI Corporate & Investment Banking Division. It is a business unit covering advanced trading and investment solutions for institutional and corporate clients. The Market Hub, in this regard, combines capital markets services with advanced technology in the said business unit to offer financial solutions that are efficient, transparent, and reliable. Thus, Market Hub acts as one of the leaders in the capital market world, offering everything from advanced electronic trading platforms to custom-designed investment solutions. It is here that I got an opportunity to work as a summer intern and hence acquire so much insight into the world of modern financial markets, working alongside some of the brightest brains in the industry.

Logo of IMI – Intesa Sanpaolo.
Logo of IMI - Intesa Sanpaolo
Source: the company.

My internship at IMI – Intesa Sanpaolo

In the Market Hub team of Intesa Sanpaolo, I was assigned diverse responsibilities that gave me a wide view of capital markets. Among the main tasks I carried out each day, I prepared reports summarizing and analyzing the results of the activity of my team in the previous day on fixed income, derivatives, and bonds. These reports were crucial in providing the proper overview of how the market was performing, how the team was doing, and whether it was hitting its goals. These reports required me to distill complex financial data into clear, concise, actionable insights for internal stakeholders and more senior bankers. It was there that I learned to present findings to both senior and peer colleagues.

Another important responsibility was to analyze the performance of Market Hub on different platforms such as Bloomberg, Tradeweb, BondVision, and MarketAxess. This included analysis of trading data and platform-specific metrics for market trend analysis and efficiency of performance. In the process, I gained significant knowledge of how technology fits into financial operations and how different trading platforms are designed in today’s investment banking world.

Every day, I actively participated in morning calls, where I discussed the most relevant market news with Milan, New York and London branches teams, regarding the current trends and the Market Hub results. This role called for being informed on all current global financial events and sharing the most relevant information that could have an impact on the team’s activity. Furthermore, I supported the sales team with client contract preparation, making sure everything was accurate in the paperwork, and facilitating smooth coordination with both sales and trading teams.

Finally, I received theoretical and practical training from Bloomberg, both at Intesa Sanpaolo and at its Milan headquarters. These really helped to boost my knowledge of the Bloomberg Terminal, from a basic to upper-intermediate level and hence to navigate market data more effectively.

The fast-paced environment of a trading desk.

Source: StockCake.

My missions

My internship responsibilities were diverse and challenging, reflecting the dynamic nature of the Market Hub’s operations. My missions included:

Preparing Analytical Reports: I have collected and analyzed data in order to prepare reports on market trends, trading performance, and product evaluations. These reports were of utmost importance for internal strategy discussions and client presentations, requiring precision and a keen understanding of financial concepts. Producing these also helped me build a stronger command of data visualization techniques and financial storytelling.

Supporting Trading Desk Operations: I analyzed real-time market data to assist traders in making informed decisions. This entailed monitoring key indicators, assessing liquidity conditions, and identifying opportunities for optimizing trade execution strategies. The depth of analysis required for this role provided me with a strong foundation in market mechanics and trading dynamics.

Collaborating with the Sales Team: I worked with the sales team where I analyzed client needs, helped the sales to prepare tailored financial solutions, and ensured effective communication between the sales and trading teams. This experience has allowed me to learn how to manage client relationships and how product offers must be made, in order to meet clients’ expectations and consequently establish important partnerships.

Required skills and knowledge

The internship required technical expertise, analytical acumen, and interpersonal skills. From a technical point of view, it engaged my knowledge of financial instruments such as derivatives, bonds, and fixed-income products. Knowledge of data analysis and data visualization by tools such as Excel, Bloomberg and Power-BI has been fundamental in the execution of data analysis. Proficiency in Excel allowed me to go through big spreadsheets of data and extrapolate for the team important information. Similarly, Bloomberg Terminal was helpful to access market data, monitor trading activity, or conduct deep research on any financial security.

Another very useful aspect was the quantitative and statistical knowledge. My comprehension of the main concepts such as regression analysis and time series forecasting, also if not strictly necessary, enabled me to interpret complex datasets and support predictive analysis tasks on Power-BI.

Equally important were the soft skills that enabled me to thrive in a high-pressure environment. Effective communication was extremely important because it called for frequent presentation of the results, on quite a technical level, to the Heads of the team. Adaptability and problem-solving were other critical skills during my internship, especially in periods when the workload was heavy and there was the necessity to reorganize the priorities. Lastly, teamwork ability played a significant role when I was assigned collaborative tasks with other interns and analysts.

What I learned

My internship at Intesa Sanpaolo was really enriching and opened my eyes to the world of financial markets and the strategic relevance of technology in modern banking. One of the most important lessons learned during this experience, if not the most important, is surely the precision and attention to detail that every operation of a financial nature should have. Whether in the analysis of market data or in the preparation of presentations for clients, everything had to be extremely precise and had to respect high standard.

I also learned a lot about how trading and market analysis works. How customer behavior, market dynamics, and technology systems interact allowed me to gain a comprehensive understanding of the variables affecting trading results. The internship has also made clear the importance of teamwork and communication toward the success of an organization. The interpersonal skills developed in working closely with leaders of the sector will undoubtedly help me in the future.

The use of Bloomberg Terminal, a very important tool in researching market data, real-time financial news, and deep research into different asset classes, was another skill I was further refining. Bloomberg allowed me to find instantly relevant information and develop actionable insight, crucial both for the trading strategy and for client presentations. This not only helped me to improve my technical knowledge but also instilled in me the need to use the right tools to perform efficient analysis.

Perhaps, most importantly, this experience allowed me to dive into the transformative impact of technology on the financial industry: from automated trading systems to advanced analytics tools, integration of technology into financial processes changes how institutions operate. Overall, this experience encouraged me to go deeper into the area where finance and technology meet.

Bloomberg Terminal, an essential tool for market analysis and decision-making.

Source: Bloomberg.

Financial concepts related my internship

I present below three financial concepts that were particularly relevant to my internship experience: market liquidity, derivatives and bond pricing, and trade execution algorithms.

Market Liquidity

Market liquidity refers to the ease with which an asset can be bought or sold in the market without causing a significant change in its price. Trading volumes, bid-ask spreads, and other indicators are only a few aspects that must be analyzed in an attempt to assess the depth and stability of markets. I learned that various events in the market such as the decisions made by central banks or geopolitical events, have huge influences on liquidity. This knowledge also underlined timing in trading decisions for maximum efficiency and minimum risk exposure.

Derivatives and Bond Pricing

The internship gave me an opportunity to learn and understand some of the intricacies related to derivatives and bond pricing. I understood, also if not personally performed, the ways of pricing derivatives, options, and futures based on volatility, interest rates, and prices of the underlying assets. I mastered methodologies for bond pricing, including the time value of future cash flows and periodic coupon payments in addition to the face value at maturity. This is based on interest rate dynamics and credit spreads, which affect fixed-income valuation. Although I did not perform the valuations myself, this experience really improved my capabilities to interpret quantitative models and to read complex financial data.

Trade Execution Algorithms

These advanced trading tools are engineered to achieve the best possible outcome in trades at an extremely low market impact and with a low transaction cost. In an electronic trading environment, I was privileged to pick up some concepts on the design and application of these algorithms. Knowledge about how the algorithms were calibrated in a balance between speed, cost, and market conditions gave me valuable insight into technological changes shaping today’s practices of trading.

An example of market liquidity trends analysis.
Bloomberg Terminal, an essential tool for market analysis and decision-making IMI Intesa Sanpaolo
Source: ETFstream.

Why should I be interested in this post?

This article will be really helpful for all students who want to orient their careers in finance, investment banking, and trading. It underlines the importance of practical experience within such a prestigious institution as IMI – Intesa Sanpaolo and the knowledge and abilities necessary for such a career. Understanding how markets and technology interact, in fact, becomes key for every finance aspirant, and this internship is a great illustration of that.

Useful resources

IMI Intesa Sanpaolo – Corporate & Investment Banking Division

Market HUB Intesa Sanpaolo

About the author

The article was written in December 2024 by Andrea ALOSCARI (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – 2024-2025).

My Internship Experience at SmartStream Technologies (Fintech)

December 27, 2024December 18, 2024 by Lara HADDAD

My Internship Experience at SmartStream Technologies (Fintech)

In this article, Lara HADDAD (ESSEC Business School, Bachelor in Business Administration (BBA), 2020-2024) shares her experience as a market analyst at SmartStream Technologies.

Presentation of SmartStream Technologies

SmartStream Technologies (often called SmartStream in short) is a global provider of financial transaction management software and managed services. Their flagship product, Transaction Lifecycle Management (TLM®), helps financial institutions streamline their post-trade processing, improve efficiency, and reduce operational risks. They also offer various services that primarily use AI as a tool to facilitate financial transactions and accounting.

Logo of SmartStream Technologies

Source: the company.

Presentation of my internship at SmartStream Technologies

During my internship as a Market Analyst in Dubai, I gained a deep understanding of SmartStream Technologies’ fintech products. My key contributions included developing a business plan for “SmartStream Air,” an AI-powered product, and implementing sales and marketing strategies to attract potential clients. I also played a pivotal role in preparing the budget for company events, conducting financial analyses to identify cost-saving opportunities and enhance campaign effectiveness. This experience provided valuable insights into the intersection of technology, finance, and marketing within the fintech industry.

Required skills and knowledge

This internship demanded a combination of technical and interpersonal skills. A strong understanding of financial markets and fintech products was crucial. Analytical skills were necessary for market research and business plan development, while financial modeling skills were used for budgeting and forecasting. Communication and presentation skills were essential for conveying ideas and strategies to stakeholders. Furthermore, problem-solving and critical thinking were vital for navigating the complexities of the fintech landscape and developing innovative solutions. Finally, adaptability and a proactive approach were important for thriving in a fast-paced, technology-driven environment.

What I learned

My internship at SmartStream Technologies provided a deep dive into the world of fintech. I gained practical experience in developing a business plan for a new AI-powered product, which involved market analysis, financial projections, and go-to-market strategy development. I also honed my budgeting and cost analysis skills while preparing for a major event. This experience highlighted the importance of data-driven decision-making and the increasing role of technology in the financial services industry.

Three Key Financial Concepts

I present below three key concepts that I used throughout my internship: budgeting and cost analysis, sales forecasting, and return on investment (ROI).

Budgeting and Cost Analysis

Preparing the event budget required careful planning, cost estimation, and analysis to ensure efficient resource allocation. This experience highlighted the importance of financial control and cost management in achieving project objectives.

Sales Forecasting

Developing sales strategies involved forecasting potential revenue based on market analysis and sales projections. This provided valuable insights into the financial planning process and the importance of accurate forecasting.

Return on Investment (ROI)

Analyzing the effectiveness of marketing campaigns required measuring the return on investment to assess the financial impact of marketing spend. This experience emphasized the importance of data-driven decision-making and performance measurement.

Why should I be interested in this post?

This post is highly relevant for ESSEC students interested in fintech, financial product management, or technology-driven finance roles. It demonstrates how financial skills can be combined with an understanding of technology to drive innovation and growth in the financial services sector. The experience of developing a business plan, implementing marketing strategies, and managing a budget provides valuable practical skills applicable to a wide range of finance-related careers. This type of internship can be a stepping stone to exciting opportunities in the rapidly evolving fintech landscape.

Useful Resources

smartstream air

About the author

The article was written in December 2024 by Lara HADDAD (ESSEC Business School, Bachelor in Business Administration (BBA), 2020-2024).

My Internship Experience as a Market Analyst at L’Oréal

December 18, 2024 by Lara HADDAD

My Internship Experience as a Market Analyst at L’Oréal

In this article, Lara HADDAD (ESSEC Business School, Bachelor in Business Administration (BBA), 2020-2024) shares her experience as a Market Analyst intern with L’Oréal Group. My six-months internship, which was a part of my Global BBA program at ESSEC was a great opportunity to discover a new industry in a big company. The diversification of the missions and the focus on financial analyses of different brands motivated me to start this internship.

Presentation of the Company

L’Oréal, founded in 1909, reigns as the world’s largest cosmetics company. With a diverse portfolio encompassing hair color, skincare, sun protection, make-up, perfume, and hair care, L’Oréal’s success stems from a dual focus: developing innovative products and cultivating strong customer relationships. This approach necessitates a workforce adept at both scientific research and market analysis.

L’Oréal brands

Source: the website.

Presentation of my Internship

As a Market Analyst Intern at L’Oréal’s Global Headquarters in Paris, I delved into the intricacies of the MENA market. My missions included conducting sell-in and sell-out analyses, crafting customer-specific reports, analyzing channel performance and competition (including online and offline channels), and contributing to volume build-up reports and financial simulations, notably GM% modeling. I also worked on establishing the budget of next quarter based on the budget of last year and the performance of the different brands and how the expenses were divided.

These tasks demanded proficiency in data analysis, financial modeling, market research, and a keen understanding of regional market dynamics. I honed these skills while also developing a strong understanding of how financial data informs strategic decision-making within a global corporation.

I was able to develop various analytical, problem solving, financial skills as well as human soft skills thanks to the team work and constant communication I had with my teammates.

Required skills and knowledge

My role at L’Oréal required strong analytical skills to interpret market data, identify trends, and draw meaningful conclusions. Financial modeling and proficiency in Excel were essential for building forecasts and simulations. Presentation skills were vital for communicating findings to the team, while attention to detail ensured accuracy in reports and analyses. Collaboration and communication were key for working effectively within the team and with other departments. Finally, an understanding of the cosmetics industry and market dynamics was beneficial for contextualizing my analysis.

What I learned

I gained a comprehensive understanding of the cosmetics industry, particularly within the MENA market. I honed my analytical skills by working with real market data and learned how to translate complex information into actionable insights. Developing financial models and contributing to strategic decision-making provided practical experience relevant to corporate finance roles. Working within a global corporation like L’Oréal also gave me valuable insights into the complexities of international business and the importance of cross-cultural collaboration.

Three Key Financial Concepts

I present below three key concepts that I used throughout my internship: gross margin, financial modeling, and market analysis.

Gross Margin

Gross Margin Percentage (GM%) is a metric, central to my internship, which reveals the profitability of a product after deducting the cost of goods sold. Analyzing GM% allowed me to assess the financial health of different product lines and contribute to pricing strategies. My team was responsible of three main brands and we would do this monthly analysis on these brands to establish what is going on in the market and what can be fixed.

Financial Modeling

Building financial models based on market data and trends was crucial for forecasting future performance and informing investment decisions. This experience provided valuable insights into how companies use financial projections to guide their strategies.

Market Analysis

Understanding market dynamics, consumer behavior, and competitive landscapes is essential for financial success. My internship provided hands-on experience in analyzing these factors and their impact on financial performance.

Useful Resources

L’Oréal Finance

L’Oréal careers

About the author

The article was written in December 2024 by Lara HADDAD (ESSEC Business School, Bachelor in Business Administration (BBA), 2020-2024).

My Experience at Do well do good ESSEC Program

December 18, 2024December 18, 2024 by Lara HADDAD

My Experience at Do well do good ESSEC Program

In this article, Lara HADDAD (ESSEC Business School, Bachelor in Business Administration (BBA), 2020-2024) shares her experience as a business analyst in partnership with ESSEC at Do well do good (Formerly ShARE) ESSEC Program. I was able to work with different startups from different industries to better recommend solutions to their problems.

Presentation of the Company

Do well do good is a management consulting NGO partnering with universities worldwide. Its mission is to empower startups with the strategic guidance and resources needed to achieve sustainable growth and profitability. This involves a diverse range of consulting services, including market analysis, financial planning, and strategic development.

Logo of dwdg.

Source: the company.

Presentation of my Internship

My role as a Business Analyst involved supporting three French startups: Lattice Medicine (B2B medical devices), Mendo (AI tool), and Luko (insurance services). My responsibilities ranged from conducting benchmarking and cost optimization analyses for Lattice Medicine to developing market entry strategies for Mendo and improving profitability for Luko through pricing and customer acquisition/retention strategies. This experience required strong analytical skills, financial acumen, and the ability to adapt to the unique challenges of different industries. I learned how financial analysis and strategic planning are intertwined in driving business success, particularly for startups. It was a way for me to combine my passion for finance and strategy to achieve a specific objective. It was particularly interesting to discover new industries and work with experts in the field.

Required skills and knowledge

This experience demanded a blend of hard and soft skills. Hard skills included financial modeling, market analysis, and proficiency in Microsoft Excel for data manipulation and presentation. Equally crucial were soft skills like communication, as I constantly interacted with startup founders and team members. Adaptability was essential to navigate the diverse challenges of different industries, while problem-solving and decision-making skills were key to developing effective solutions for each startup. Finally, time management was crucial to juggle multiple projects simultaneously and meet deadlines.

What I learned

I learned a lot from this experience because it provided me invaluable hands-on experience in applying financial and strategic concepts to real-world business challenges. I gained a deeper understanding of the startup ecosystem, learned how to conduct thorough market research, and developed my financial modeling skills. Working with diverse startups broadened my industry knowledge and honed my ability to adapt quickly to different business models and needs. Perhaps most importantly, I learned the importance of collaboration and communication in a consulting environment.

Three Key Financial Concepts

I present below three key concepts that I used throughout my internship: cost optimization, market penetration, and profitability analysis.

Cost Optimization

Identifying and implementing strategies to reduce costs without compromising quality was a key focus of my work with Lattice Medicine. This involved analyzing expenses, exploring alternative solutions, and developing efficient processes.

Market Penetration

Developing a successful market entry strategy for Mendo required a deep understanding of target markets, competitive landscapes, and financial feasibility. This involved conducting market research, financial projections, and risk assessments.

Profitability Analysis

Improving Luko’s profitability involved analyzing pricing models, customer acquisition costs, and retention rates. This experience highlighted the importance of understanding key financial drivers and their impact on overall business performance.

Why should I be interested in this post?

For ESSEC students interested in finance, this post offers a glimpse into the world of consulting, particularly within the dynamic startup landscape. It demonstrates how core financial skills can be applied to help businesses grow and succeed. The experience of working with multiple startups across different industries is highly valuable for anyone considering a career in financial advisory, venture capital, or entrepreneurship. This type of program can provide a strong foundation for future roles requiring financial analysis, strategic thinking, and problem-solving.

Useful Resources

dwdg Program future leaders

About the author

The article was written in December 2024 by Lara HADDAD (ESSEC Business School, Bachelor in Business Administration (BBA), 2020-2024).

My Apprenticeship Experience as Customer Finance & Credit Risk Analyst at Airbus

December 24, 2024December 11, 2024 by Snehasish CHINARA

Snehasish CHINARA Customer Finance & Credit Risk Analyst

In this article, Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025) shares his experience as Customer Finance & Credit Risk Analyst at Airbus, which is a leader in the commercial aviation industry as an original equipment manufacturer (OEM).

About Airbus SAS

Airbus SAS, founded in 1970, is a leading European multinational aerospace corporation with a global presence. Specializing in the design, manufacturing, and delivery of aerospace products, services, and solutions, Airbus has established itself as a cornerstone of innovation and excellence in the aviation industry.

From commercial aircraft to defence and space systems, Airbus covers a wide array of sectors, each driven by cutting-edge technology and a commitment to sustainability. Their iconic product line, including the A320 and A350 families, represents the forefront of efficiency, safety, and performance in aviation.

Beyond manufacturing, Airbus is also deeply engaged in digital transformation, pushing boundaries with initiatives in autonomous flying, AI-driven processes, and greener aviation solutions. As an industry leader, Airbus is committed to decarbonizing the aerospace industry, having set ambitious goals to reduce its environmental footprint through innovations such as sustainable aviation fuels and hydrogen-powered aircraft.

With a global workforce of over 130,000 employees and operations in more than 170 locations worldwide, Airbus continues to be at the heart of the aerospace revolution, shaping the future of flight.

Logo of Airbus.

Source: the company.

My Experience as a Customer Finance & Credit Risk Analyst at Airbus

During my time as a Customer Finance & Credit Risk Analyst at Airbus, which was part of my Master in Management degree at ESSEC Business School, I had the opportunity to play a pivotal role in leading financial analyses and supporting high-stakes deal campaigns in the aviation sector. This experience was instrumental in sharpening my analytical and credit risk assessment capabilities, as I worked on transactions exceeding €200M, where each decision carried significant financial implications.

In this role, I focused on developing advanced financial models and internal customer credit rating models, applying methodologies from major credit rating agencies like Moody’s, S&P, and Fitch. These models, built using tools such as Excel, R, and Python, allowed my team to improve the accuracy of risk predictions for over 200 global client companies (mostly airline companies) air. By conducting industry-wide credit risk analyses, I ensured that each deal was supported by a thorough understanding of financial and credit health, helping Airbus mitigate risks and seize opportunities in a highly competitive market.

A key highlight of my work involved analysing the impact of M&A and restructuring activities within the aviation industry. This hands-on experience further honed my ability to deliver comprehensive financial forecasts and credit risk analyses.

One of the most rewarding aspects of my role was the opportunity to present these financial insights directly to senior executives. Communicating complex financial data effectively is crucial when high-value transactions are involved, and this responsibility significantly enhanced my presentation and communication skills. My experience in presenting to top executives helped me not only translate data into actionable strategies but also contributed to the decision-making process at the highest level.

Overall, my role as a Customer Finance & Credit Risk Analyst at Airbus was a formative experience that deepened my expertise in financial modelling, credit risk analysis, and strategic financial communication. It was an invaluable opportunity to contribute to significant aviation industry deals and refine my skills in evaluating financial performance and credit health at a global scale.

My missions

The objective my project was to achieve the following:

Led the migration of Airbus’ internal credit rating model from a manual Excel-based system to an automated and scalable R-based system, improving data processing accuracy and decision-making.

Educated internal teams on industry-specific financial metrics and KPIs to help them understand the financial health of Airbus’ customers.

Conducted comprehensive financial health analyses and credit rating evaluations for over 200 global companies, using tools such as Excel, R, and Python.

Supported marketing and sales campaigns by providing financial insights, risk evaluations, and industry trends to improve Airbus’ position in the aviation sector.

Required Skills and Knowledge

As a Customer Finance & Credit Risk Analyst at Airbus, several key skills and knowledge areas were essential to fulfilling my responsibilities effectively:

Financial Analysis and Modelling: Proficiency in developing financial models and credit rating models was crucial. These models helped me assess the financial health of clients and predict risks. Additionally, I frequently used tools like Excel, R, and Python to develop robust financial models that supported decision-making processes.

Credit Risk Assessment: Applying methodologies from Moody’s, S&P, and Fitch allowed me to conduct comprehensive credit risk assessments. Understanding credit rating criteria and financial ratios helped me evaluate over 200 global companies in the aviation sector, ensuring accurate risk predictions.

Industry Knowledge: Understanding the aerospace industry inside and out was essential. I became familiar with the dynamics between OEMs, lessors, airlines, and financial institutions. This helped me make better-informed decisions when assessing the creditworthiness of our clients and providing insights that contributed to Airbus’ overall financial strategies.

Data Analysis and Reporting: I worked with large datasets to analyse financial performance and assess risk factors. Creating financial reports, dashboards, and presentations helped me convey complex data in a way that was clear and actionable, especially when presenting to senior executives.

Automation and Process Improvement: One of my major projects involved transitioning our internal credit rating system from Excel to a more efficient R-based platform. This required me to develop a scalable solution that not only improved accuracy but also streamlined the data processing workflow, making everything faster and more reliable.

Collaboration and Stakeholder Management: Working closely with various teams within Airbus and external partners taught me the importance of effective communication and teamwork. Presenting my financial insights to senior executives also sharpened my ability to convey complex information in a clear, understandable way, ensuring everyone was aligned with our financial strategies.

This diverse set of skills allowed me to support high-value transactions, improve credit risk assessment processes, and contribute to strategic initiatives at Airbus.

What I learned

Key Learning Outcomes of this project :

Applying Financial Models to Real-World Scenarios: I gained hands-on experience using advanced financial models such as DCF, LBO, and credit rating models. This helped me make informed, evidence-based conclusions to assess credit risk and guide strategic decision-making.

Enhanced Risk Assessment Skills: I learned how to apply credit rating methodologies from major agencies like Moody’s, S&P, and Fitch. This allowed me to develop a deeper understanding of risk factors affecting both the aviation sector and individual companies, enhancing my ability to forecast risks with greater accuracy.

Collaboration and Stakeholder Engagement: Collaborating with cross-functional teams within Airbus, I developed strong communication skills, particularly in presenting complex financial insights to senior executives and aligning my work with broader corporate objectives.

Data-Driven Decision Making: I honed my ability to analyse large datasets, extract meaningful financial insights, and turn them into actionable recommendations. This process strengthened my strategic thinking and ability to contribute to critical business decisions.

Process Automation and Efficiency Improvement: Leading the automation of the internal credit rating system taught me how to streamline workflows and improve efficiency, significantly reducing the time spent on manual processes while enhancing data accuracy.

Concepts related my Apprenticeship

I explain below three business concepts related my apprenticeship: value chain, credit risk analysis, and financial ratios.

Value Chain

The commercial aviation sector comprises multiple interconnected players, each contributing to different stages of the value chain. The value chain begins with aircraft Original Equipment Manufacturers (OEMs) like Airbus and Boeing, which design and manufacture aircraft. These OEMs negotiate deal terms with airlines and lessors for the sale or lease of aircraft. The deals can range from firm orders, where aircraft are purchased outright, to leasing agreements, where airlines lease aircraft for operational flexibility.

In this value chain, airlines are the primary end users, operating the aircraft to transport passengers (commercial airplane) and freight (cargo airplane). Lessors act as intermediaries, purchasing aircraft from OEMs and leasing them to airlines, offering flexibility in fleet management. Additionally, Maintenance, Repair, and Overhaul (MRO) providers play a critical role in ensuring the safety and performance of aircraft throughout their lifecycle. Financial institutions and credit rating agencies are also integral players, assessing the creditworthiness of the companies involved and financing large-scale aircraft transactions.

The deal-signing process with OEMs often involves complex negotiations on pricing, delivery schedules, and terms of financing. Types of deals include sale agreements, wet or dry leases, and purchase options. The financial arrangements and credit risk evaluations play a pivotal role in securing these deals, ensuring that all parties can fulfil their obligations over the aircraft’s operational life.

Credit Risk Analysis

Credit risk analysis is the process of evaluating the likelihood that a borrower or counterparty will default on their financial obligations. In the context of my work at Airbus, credit risk analysis was crucial for understanding the financial health of customers—whether they were airlines, lessors, or MRO service providers. By analysing financial statements, liquidity ratios, and external market factors, we could gauge the risk of default and the overall creditworthiness of these companies.

Credit ratings, provided by the three major credit rating agencies—Moody’s, S&P, and Fitch, are a standardized way to assess a company’s financial health and default risk. These agencies evaluate the financial statements of companies, industry trends, and macroeconomic conditions to assign ratings that range from AAA (lowest risk) to D (in default). Credit ratings are essential for investors and lenders in determining the risk profile of potential investments and for companies like Airbus when structuring deals.

Airbus, like many large corporations, uses internal customer credit rating models alongside external credit ratings to gain deeper insights into the financial stability of its clients. These models allow Airbus to account for industry-specific factors and customer performance metrics that external agencies might overlook. Internal models are particularly valuable in predicting potential risks and making informed decisions about financing, delivery schedules, and long-term contracts, ensuring that Airbus minimizes exposure to credit risk.

Financial Ratios

Financial ratios (key performance indicators (KPIs) for the financial health of a firm) are vital in assessing the financial health of companies in the aviation sector. During my time at Airbus, I focused on analysing these KPIs to evaluate the financial stability and creditworthiness of our customers:

Liquidity Ratios: Indicators like the current ratio and quick ratio show a company’s ability to meet its short-term obligations. A higher ratio suggests stronger liquidity and a lower risk of financial distress.

Debt-to-Equity Ratio: This KPI measures the proportion of debt financing relative to equity. A lower debt-to-equity ratio typically indicates a more financially stable company, with less risk of default in turbulent market conditions.

Profitability Margins: Metrics like net profit margin and EBITDA margin give insights into how efficiently a company is operating. Higher profitability suggests a company can generate sufficient revenue to cover its expenses, even in challenging times.

Gearing Ratio: A company’s gearing ratio measures its financial leverage and how reliant it is on debt to finance its operations. A higher gearing ratio may indicate increased financial risk.

Altman Z-Score: This is a composite score used to predict bankruptcy risk, combining profitability, leverage, liquidity, solvency, and activity ratios. It’s particularly useful for assessing companies under financial stress, a key concern in the aviation sector post-COVID-19.

Cash Flow from Operations: A company’s ability to generate consistent cash flow from its core operations is a strong indicator of financial health. In the aviation sector, where cash flow can be cyclical, maintaining positive cash flow is critical for long-term sustainability.

The following table provides some of the important financial ratios used to estimate the risk of a company. High financial risk is implied by high or low measure according to the ratio.

Table 1. Financial ratios

Financial ratios

Source: The author.

Ratios are most useful when compared between companies in similar sectors and over time. Multiple measurements may be necessary for each given firm to fully comprehend the financial risk.

Why Should I Be Interested in This Post?

If you are passionate about the aviation sector, finance, and risk management, this role as a Customer Finance & Credit Risk Analyst at Airbus offers an exceptional opportunity to develop a deep understanding of the global aviation market while working on high-impact financial transactions. You’ll be at the forefront of evaluating the creditworthiness of major airlines, lessors, and other key players in the industry, gaining valuable insights into how financial health and risk factors influence large-scale deals.

This position also allows you to hone your skills in advanced financial modeling, risk assessment, and credit rating, using real-world data to drive decision-making on transactions worth millions of euros. The chance to work closely with cross-functional teams, present findings to senior executives, and contribute directly to Airbus’ business strategy ensures that you will grow both technically and professionally.

Additionally, the aviation industry is dynamic, with constant innovations in technology, sustainability initiatives, and global market trends. By working in this role, you’ll be part of a sector that plays a pivotal role in global transportation and trade, offering immense potential for career growth and advancement.

Useful resources

Airbus

Allianz Trade Financial Risk

Deloitte Financial Risk

About the author

The article was written in October 2024 by Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025).

My Internship Experience at Safety Carb

December 24, 2024December 7, 2024 by Marine SELLI

My Internship Experience at Safety Carb

In this article, Marine SELLI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2020-2024) shares her professional experience as a Strategic Financial Planner at Safety Carb Additifs.

About Safety Carb

My father founded Safety Carb Additifs as an entrepreneurial venture in 2015 to produce French industrial additives. It is a company focused on environmentally friendly additives while reducing their negative ecological impact. Over the years, Safety Carb has developed itself and reaffirmed its positioning earning eco-certifications that also allow its customers to benefit from eco-primes.

Logo of the company.
Logo of Safety Carb
Source: Safety Carb.

My internship at Safety Carb

Joining Safety Carb Additifs as a Strategic Financial Planner gave me the opportunity to contribute to an entrepreneurial venture which is a stimulating and ever evolving environment. My role encompassed many day-to-day recurring tasks such as inventory management, issuing invoices, it was mainly centered around developing a comprehensive business plan, which served as a foundation for the company’s strategic initiatives and future growth. Yet being in a small corporate setting, in rare moments I also had to bring support in other areas such as operational tasks.

In the end, this internship allowed me to delve into the company’s financial operations and understand the unique challenges faced by entrepreneurial ventures.

My missions

One of the main parts of my internship was the creation of a detailed business plan with the CFO ( Chief Financial Officer ). I had to do in-depth market research of this process in which I had to assess growth opportunities and identify the company’s competitive advantage. We looked to determine the possible market expansions and the need to incorporate the sustainability metrics into the plan. Safety Carb emphasized the use of its eco-friendly products to break new market segments in this business plan.

It also featured financial projections of the company’s growth potential and indicated the company’s ability to achieve profitability while conforming to his sustainability objectives, and used scenarios useful for external financing like investors.

I was also responsible for helping to synthesize accounting data and to create tools to monitor inventory so that the company’s operations could be kept efficiently and on track with its financial achievement.

Required skills and knowledge

Reflecting on it, my internship at Safety Carb Additifs required a combination of technical and analytical skills. Developing the business plan required me to acquire a comprehensive understanding of financial modeling and market analysis. Moreover, I needed a strategic mindset to balance the company’s entrepreneurial objectives with its operational constraints. For instance, while drafting the Business Plan, I had to consider the company’s limited financial and human resources, ensuring that proposed initiatives were feasible within budget and staffing constraints. Additionally, the production capacity of the company’s facilities imposed limits on how quickly new projects or expansions could be implemented.

What I learned during my internship at Safety Carb

This experience enhanced my understanding of how financing can support entrepreneurial ventures and fast-track its success. I also learned to develop business plan creation skills, from market analysis to financial projections, and gained an overview into how sustainability can drive growth in competitive industries in today’s environment. On a more personal note, working closely within an entrepreneurial team also gave me a deeper appreciation for the challenges and opportunities that come with running a family business.

Financial concepts related my internship

Business Plan Development

One of the key financial concepts I applied during my internship was business plan creation. This involved integrating various components into a cohesive Excel that reflected the company’s strategic direction.

Cost-Benefit Analysis

I also relied on cost-benefit analysis to evaluate the potential return on investment for market expansion initiatives and the need for a validation of other eco-certifications. By assessing the trade-offs between costs and expected benefits, I was able to provide actionable recommendations backed-up by several hypotheses.

Cash Flow Management

Cash flow management was another important concept. For any entrepreneurial venture, it’s necessary to understand how to project and monitor cash flows and ensure that the company’s operations were financially sustainable.

Why should I be interested in this post?

If you’re interested in an entrepreneurial venture, finance and sustainability, I think this post provides a great ground to demonstrate how finance can serve as a catalyst for both business growth and positive environmental impact.

Useful resources

Safety Carb

About the author

The article was written in December 2024 by Marine SELLI (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2020-2024).

About the company

My internship

My missions

Required skills and knowledge

What I learned

Financial concepts related to my internship

Days Sales Outstanding (DSO)

Cash Flow Forecasting

Credit Risk Assessment

Why should I be interested in this post?

Related posts on the SimTrade blog

Useful resources

About the author

About the company

My internship

My missions

Required skills and knowledge

What I learned

Financial concepts related to my internship

Asset Valuation

Value at Risk (VaR)

Regulatory Ratios

Why should I be interested in this post?

Related posts on the SimTrade blog

Useful resources

About the author

About the Ministry of Citizenship and Multiculturalism

The Working Process

Step 1: Policy Mandate & Strategic Planning

Step 2: Research and Community Engagement

Step 3: Policy Development and Program Delivery

Work Environment & Ethics

Required skills and knowledge

What I learned

Financial concepts related to my internship

Public Budgeting

Cost-Benefit Analysis

Grant Funding Allocation

Why should I be interested in this post?

Related posts on the SimTrade blog

Useful resources

About the author

About the company

My internship

My missions

Required skills and knowledge

What I learned

Financial concepts related my internship

Customer Lifetime Value (CLV)

Return on Investment (ROI) for Campaigns

Subscription-Based Revenue Models

Why should I be interested in this post?

Related posts on the SimTrade blog

Useful resources

About the author

About the company

My internship

My missions

Required skills and knowledge

What I learned

Financial concepts related my internship

Project Cost Awareness

Resource Utilization

Consulting Business Models

Why should I be interested in this post?

Related posts on the SimTrade blog

Useful resources

About the author

About Bank of America

My work

Transaction Management & Documentation

Coordination with Internal and External Stakeholders

Funding & Settlement Oversight

Recordkeeping & Compliance

Fee and Payment Management

Required skills and knowledge

Technical Skills

Desirable Soft Skills

What I learned

Financial concepts related to my job