Challenging, revealing and fun experience - perfect mix of theory and real-life case cracking
04-04-2024 12:41
(WFIP #2) Halfway through our pan-Nordic Women’s Finance Insight Programme 2024, we’re excited to catch up with some of the participants and dedicated bloggers; Alva, Julia, Aleksandra and Olivia. Read their second blog and hear about their key take-aways, challenging tasks, team work and eye-openers – diving into the trades of sustainable finance, equity research, debt capital markets and much more.
If you missed out on the first blog in the WFIP 2024 series, and aren’t familiar with the programme, check out, Nordea Women’s Finance Insight Programme. Now, let’s see what the students have been up to during the latest afternoon sessions at our Nordea offices in Stockholm, Copenhagen, Helsinki and Oslo.
Alva is studying at KTH Royal Institute of Technology.
What have you been doing during the last sessions?
We have, among other things, had the opportunity to meet several Nordea representatives from various teams, including Leveraged Finance, Equity Research, and Corporate Finance. Each has shared insights into their different roles, explaining what they do and what they find the most rewarding about their work. Following the presentations, we have applied the knowledge to exercises involving real-life cases, where we have worked together in teams to solve different challenges.
What did you find the most interesting – and most challenging?
So far, one of the most interesting aspects for me has been to use the information gained from the sessions to solve actual cases.
It has been a fun learning experience to work together with women from different educational backgrounds and experiences to see how we can complement each other. It has definitely also been challenging to digest and apply all of the new information within the limited timeframe.
Has your perception of a career in finance changed?
In the past few sessions, I've had the chance to explore different teams and roles in finance that I hadn't considered before, which has been an eye-opener for me. Therefore, I would say that this experience has widened my understanding of the various career paths available in finance. I've come to realize that there's a whole spectrum of opportunities out there, catering to different skills and interests. Overall, it's been a really valuable experience that's reinforced my belief that there's something for everyone in this field.
Julia is studying Masters of Science in Finance at Aarhus University
What have you been doing during the last sessions?
We covered a wide range of topics, from discussing corporate bonds to preparing a stock pitch. Throughout the sessions, we were introduced to Debt Solutions & Loans (DSL), Sustainable Finance, Debt Capital Markets (DCM) and Leverage Syndicate, as well as Equity Sales and Research. Each session consisted of presentations which blended theory with real-life examples, case studies, and Q&A sessions.
What did you find the most interesting – and most challenging?
I think the most interesting, and at the same time, the challenging part, was a case study during the DCM session. Our task was to price a corporate bond, focusing on sustainable bonds and determine the optimal timing for issuance. Calculating the coupon rate involved estimating numerous parameters, which presented a formidable challenge.
Assessing the numbers in the non-sustainable bonds is one thing, but accounting for the sustainability aspect and arguing for it, is another. Given that green bonds still constitute a minority of the market, to then make insightful comparisons proved to be particularly challenging. Another aspect that needed to be accounted for was timing. We needed to review the key dates in 2024 that could potentially influence the markets in order to establish the best possible window to issue the bonds.
So, all-in-all a really interesting and challenging – and surely educational – task.
Introduction to Debt Solutions & Loans (DSL) with Henrik Immelborn, Head of DSL Denmark and Julie Rieland Hansen, Analyst, DSL Denmark..
Has your perception of a career in finance changed?
Each session has confirmed my belief, that a career in finance is something that I would like to pursue. I am sure that I have deepened my understanding of the departments and have gained insight into the daily tasks they face. The finance world is complex yet fascinating, which makes it difficult to decide where I would like to work in the future.
Aleksandra is a Master’s student from University of Geneva
What have you been doing during the last sessions?
The second session had a focus on Debt Capital Markets, Debt Solutions & Loans, and Leveraged Finance and during the third session, we covered Equity Research and Sales. We had interesting sessions with introductions to the topics, talked about the tasks of the teams, and finished both sessions with interesting case studies in groups. It was amazing to learn more about both teams and to contrast the tasks and skills required between working in Equity and Debt teams.
What did you find the most interesting – and most challenging?
I thought that the equity research case was extremely engaging, but at the same time the most challenging. It surprised me how a valuation can be done, and how much it depends on the analyst’s analysis and reasoning, meaning that there are no exact right or wrong as such, as long as you can reason well what you have done and why - which adds a high complexity to it.
The debt session also gave a very thorough picture of how Debt Capital Markets and Leveraged Finance teams work and how the issues are approached there, and it was interesting to see how big an effect the teams seem to have in financial markets.
Has your perception of a career in finance changed?
I have always been interested in a career in finance, and therefore my perception did not change drastically. However, by attending the program, I have received confirmation which has confirmed, that I do indeed want to pursue a career in finance. The sessions have encouraged me and shown that building a career in finance as a female surely is possible, and that there is space in the field for a diverse workforce. It has also been motivating to see how much you can learn while working in the industry.
Olivia is third-year student at the Norwegian School of Economics
What have you been doing during the last sessions?
We have learned about Corporate Finance and Equity Capital Markets (ECM), Bonds, Debt Capital Markets (DCM), and Debt Solution Loans (DSL). We learned about Nordea’s different services and how they are interlinked. We also got more insight into a normal day in the different departments, and engaged in hands-on case practice. This practical approach allowed us to apply our newly acquired knowledge in a real-world context, making understanding of the differences between the topics easier.
What did you find the most interesting – and most challenging?
The most interesting part was hearing about the Nordea people’s day-to-day work tasks and getting into the details of those topics.
Andrea Westbye, analyst in Markets Derivatives Coverage Norway, telling about her work at the trading floor in Oslo.
The most challenging part was the cases. We received them prior to the sessions, and at that time it was difficult to know how to approach them. Going through the cases after we had learned more about the topics, surely helped us understand what the team does daily, and how we should approach the cases.
Has your perception of a career in finance changed?
Yes. I have gained a broader perspective of all the many opportunities within finance, and it has been great to see how many career opportunities there are in the industry. I have a much better understanding of how tasks are approached and solved. In addition, I now know what the different divisions do, both how they are similar and how they differ.
Read the first blog in the WFIP 2024 series to learn more about the programme and the attending students' diverse backgrounds and expectations.
You can find more information about our WFIP here, and read some of the blogs from last year's students here.
Interested in a career at Nordea LC&I?
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