Last time we looked at what an analyst does in an investment bank, and the skills it takes to be successful. Now we’ll look at the range of analyst roles that are out there.
Analyst jobs in investment banking can be as varied as the securities that banks manage. For example, a major Wall Street investment bank in New York recently posted a job for a junior analyst at JobSearchDigest.com This position was for an experienced Analyst/1st year Associate for the Commodities team within their Credit Risk Management (CRM) division.
This junior analyst would be involved in doing fundamental research and credit analysis, such as performing financial statement analysis, preparation of credit reviews that assign an internal credit rating and risk limits. Duties also included sector analysis, the preparation of reports that evaluate sector trends and compare relevant characteristics of specific counterparties to which the bank has exposure. Finally, the job would involve trade analysis, using financial and trade modeling tools to estimate how much a counterparty could owe the bank in probability scenarios.
This position required an undergraduate degree plus one to three years’ experience in financial services, preferably in credit analysis or evaluating corporate debt or equity. A strong analytical orientation would be a plus, such as business analytics, engineering or applied math or science.
At the mid-range level, a senior investment banking analyst could be expected to have an MBA from a top business school and at least five years of financial industry experience. At this level, he or she might lead a small team of analysts, leading meetings and conference calls with management and clients, and perhaps publishing investment recommendations. Superior analytical, modeling and communications skills would be a plus, as would a CFA designation.
And as you would expect, there are highly technical and specialized analyst jobs in investment banking. Top tier investment banks often seek analysts with quantitative skills for various strategic groups within their firm. Qualified candidates in this case would often possess a Ph.D. in a quantitative discipline from a top university, along with at least a year or two of financial industry experience. Candidates often need strong programming skills in C/C++ as well.
If you have a penchant for numbers and digging deep into data for trends and opportunities, and the stamina to work long hours towards a specific goal, then the research analyst role could be the launching pad for your career in investment banking.
BMO Capital Markets http://www.bmocm.com/