Experienced Summer Intern - Financial Services Equity (MBA, MSc or equivalent)

About BII

British International Investment is the UK’s development finance institution, owned by the UK Government. With a mission to solve the biggest global development challenges, we aim to create a virtuous circle of investment and impact. Your contribution will be essential. 

It won’t be easy: we do the hardest work in the most complex markets. Be prepared to test your skills, get creative and say your piece as you take on high-profile work as part of a diverse team of exceptionally smart, passionate people. 

In return, you can take your career to all-new places in a culture that rewards curiosity and collaboration, and balances high performance with wellbeing.

BII at a glance

75 years supporting sustainable business growth in developing and emerging markets

£8.1 billion in net assets

1,400+ businesses invested in

950,000 workers in the businesses we support

£9 billion in new investments planned in the next 5 years

600+ people in our diverse global team

3 key development objectives: Productive | Sustainable | Inclusive

The Team

The Financial Services Group (“FSG”) plays a key role in contributing towards inclusive development, including filling the SME financing gap, supporting the inclusion of significant numbers of people that remain unbanked and promoting sustainable financing. With the full product suite within one department, the group decides how to invest BII’s capital into financial services and institutions for the most impact.

The FSG’s Direct Equity team provides growth capital via minority stakes in financial institutions with a focus on transformative business models and specialised financial service providers. The portfolio includes investments in M-KOPA (a pioneering Pay-As-You-Go platform operating across Africa), TymeBank (a leading South African Neobank) and Indifi Technologies (a digital lender providing loans to micro and small businesses in India).

The Role

Specific responsibilities will be driven by priorities and needs of the team at the time, but are expected to include some or all of the following:

Strategy

• Support the development of the team’s overall strategy
• Support ad-hoc strategic projects as may be required

Research

Using BII’s proprietary data, specialised publications and open-source information to:

• Research specific sub-sectors, countries and regions as a part of any ongoing strategy and mapping exercises
• Develop the investment pipeline by identifying active and potential new investment opportunities
• Conduct background macroeconomic and market research as part of the analysis for a specific proposal
• Produce market development updates and monitor factors that could have an impact on pipeline and portfolio companies

Evaluation of new investment proposals

• Evaluate new investment proposals to identify opportunities that fit within BII’s developmental and investment mandate
• Assist with due diligence and financial analysis on specific proposals
• Assist with preparing presentations and participating in meetings with co-investors and potential investees where appropriate
• Assist with preparing investment committee papers and participating in the meetings
• Update BII’s internal databases on a regular basis to track deal processes

Portfolio monitoring

• Prepare reviews of investee’s financial and strategic performance, including compliance with BII’s Development Impact thesis and Environment, Social and Governance requirements
• Update internal monitoring tools as appropriate

The Candidate (please note, this programme is not for undergraduates)

• Currently enrolled in an MBA or equivalent programme
• Demonstrable business experience in an international environment, including exposure to emerging market finance is desirable
• Experience in an investing role within development finance, private equity, banking, financial institutions, or digital financial services (fintech) is desirable
• Demonstration of identity with BII’s proposition including:
  • An awareness of and appreciation for BII’s objectives
  • A desire and passion to be part of BII’s strategy and participate in its work
  • Evidence of high-performance standards in previous positions
• Ability to analyse financial statements and make commercial assessments
• Strong excel modelling skills
• Experience in valuation techniques
• Basic commercial insight into the challenges and key drivers that financial institutions face
• Basic understanding of private equity and the challenges/issues involved with this type of investment
• Understanding of emerging market environments
• Strong research, writing (long and short format) and oral presentation skills
• Good understanding of how to formulate ideas in order to originate deals
• Experience of structuring, reviewing, and negotiating investment proposals

Our cultural values

We look for team members who aspire, as we do, to work at our best and to be:

• Impact-led, commercially rigorous
• Tenacious in the face of challenges
• Collaborative and caring

British International Investment is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background. 

Application Process

• Please provide a cover letter with your application, and tell us why you would like to join the Summer Internship at BII, and why you have chosen to apply for this business area / team
• Please apply for one internship only
• Position opened: 28 October 2024
• Position closes: 01 December 2024
• Salary: £65,810 (pro-rated over 8 or 10 weeks)

Please note BII will pay for flights to London for those studying internationally