Sales and trading · Credit

You spend a summer checking whether the clients and trades of a bank's markets business are safe to take on, in case a client fails to pay. The seat sits in Global Markets Credit, inside the bank's Enterprise Credit Program. You join one of the team's portfolios, meaning a group of clients it looks after, and do the work a junior credit analyst does.

When the bank trades with a client such as a hedge fund, the client can end up owing the bank money. The chance that it cannot pay is credit risk, and the client on the other side of the trade is the counterparty. This team decides how much of that risk the bank should accept. It runs each case from the first research through approval and closing, and then keeps watching it.