Trading · Credit

You decide how much credit the bank gives the fund managers and banks that trade derivatives with it, and keep watch on them. A derivative, such as a swap whose value moves with interest rates or currencies, can leave one side owing the other a lot of money. You make sure a client's failure would not leave the bank with a loss it cannot bear.

As an associate you own a portfolio of clients, starting with large European fund managers and a number of European banks, and in time other non-bank financial firms and banks in other countries. You make the recommendations that senior credit officers approve.