NO #3: Climbing a steep learning curve is challenging …

27-07-2021 09:00

As their internship moves along, the 6 interns move on to new units. This week, they dived into Scope 3 and ESG in the International Shipping and Offshore unit, worked within FX Sales & Risk Solutions, digging into FX, TARF, VBA, and rotated into Advisory in Investment Banking. See how the climbing goes!

By Eirin & Signe – Diving in to International Shipping and Offshore

During the last two weeks, we have been working for Large Corporations & Institutions (LC&I), more specifically within the International Shipping and Offshore unit. As we both initially worked in product units, we now got insight on the customer unit side.

With the objective to estimate Nordea’s Scope 3 emission on its offshore lending portfolio, we dived into the sea of rigs, FPSOs, OSVs and drill ships.

Scope 3 is an important measure as it is the indirect emission that occurs through the assets financed by the bank. It is especially interesting within oil and gas due to the ongoing transition and the fact that the banks can require the owners to take certain steps in the right direction and guide them at the same time.

To sum up our internship so far; the weeks have been challenging, educational and fun. As for this week, getting to dig into the oil and gas industry in combination with sustainability/ESG, was certainly interesting with a lot of learnings.

By Martine & Peder – Getting the hang of FX Sales & Risk Solutions

The last two weeks, we have worked within FX Sales & Risk Solutions. The main tasks for this division is to provide products for customers to ensure stable and satisfactory cash flows even in volatile currency markets. Our job, was to create a presentation for Target Redemption Forward (TARF), a product which enables customers to exchange currencies at ideally favourable rates compared to market rates.

Additionally, we were asked to automatise the process of making PowerPoints by coding in VBA (Visual Basics for Applications), so that data in an Excel sheet would more easily be converted into a complete PowerPoint presentation. At the end of our project, we did a presentation in front of our project sponsors as well as the managers for both FX sales and Risk solutions. And we think it went pretty well!

Looking back, we can certainly say that the last couple of weeks, we have had a steep learning curve. Since FX (Foreign Exchange) is not covered to a great extent at school, it has been really interesting and valuable for us to be able to enhance our knowledge within this field. Additionally, our knowledge within Excel, PowerPoint and VBA has certainly also been tested – and improved.

By Ari & Vetle – Tackling tight deadlines in Advisory, Investment Banking

After our initial projects, we have rotated into the Advisory part of Nordea’s Investment Banking Division. The Advisory arm of the operation handles advisory in relation to M&A (Mergers & Acquisitions), divestments, spin-offs, restructuring, IPOs (Initial Public Offering), equity offerings and placements to name a few.

While many of the details are sensitive information, we can only reveal that we have been working on several very exciting projects in different sectors – projects such as company presentations, sector research and financial valuation of companies.

With tight deadlines and expectations, we’ve had to quickly digest and assemble information to adapt to the different projects.

The experience of working on both different transaction types and different sectors has allowed for a great learning opportunity, which will certainly prove to be valuable experience for us going forward.

Tag along and see what the Norwegian interns are up to in their next blog. Meanwhile, have a look at some of their previous blogs, and see how the fellow interns in Sweden and Finland are doing. Good reading 😉!

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