Summer Intern - Financial Services Debt

Division: Financial Services Group

Location: United Kingdom, London

Employment Type: Intern

Salary: £57, 685 (pro-rated over 8 or 10 weeks)

Closing Date: 21 January 2022

Summer Intern - Financial Services Debt

Our mission

  • CDC is the UK’s development finance institution. Established in 1948 we invest in the most challenging markets of Africa and Asia with the aim of supporting economic development.
  • CDC has net assets of £6.8bn and a portfolio of £5.2 billion. In 2020 we committed over £1.22 billion of capital to business in Africa and Asia and are now invested in 1,200 businesses which directly employ over 875,000 workers and support many more.
  • CDC is a Public Limited Company and is wholly owned on behalf of the UK government by the Foreign, Commonwealth & Development Office (FCDO).
  • In the last few years, we have expanded our presence in Africa and Asia by opening new offices in Bangladesh, Egypt, Kenya, Myanmar, Nepal, Nigeria and Pakistan with additional locations opening soon.
  • At CDC, we take an entrepreneurial approach to investment. We think innovatively about ways to deploy our capital, attract and mobilise other investors, and drive transformational impact.
  • Primarily, CDC invests through direct equity, direct debt and funds products to achieve impact and a financial return which is reinvested into more businesses. We aim to create jobs and accelerate economic prosperity and focus on sectors that will do this; manufacturing, food and agriculture, infrastructure, financial institutions, construction, health and education.
  • CDC works with like-minded ambitious people who are primarily motivated by our mission to deliver impact. We are a growing team of over 485 and place immense value on diversity within our organisation.
  • Read more about us on our website cdcgroup.com

 

The Role

If you are interested in supporting the building of businesses in Africa and South Asia, to create jobs and make a lasting impact on people's lives, then our 8 to 10-week internship is for you. 

As well as being offered meaningful work, working with diverse teams, you will also partake in a project with your intern colleagues. You will have a comprehensive induction, attend networking sessions and our speaker series.

 

The Teams

Trade and Supply Chain Finance (TSCF) and FS Debt are both product teams that sit within the Financial Services Group (FSG) at CDC. This internship will work across both teams ensuring the successful candidate develops a well-rounded exposure to FSG.

TSCF – The team provides trade and supply chain finance across CDC markets. This is achieved through FI, Corporate and SME risks using a variety of financing structures. The team takes a holistic approach to value chain financing seeking to participate in all areas of the value chain. Predominantly the team partners with Financial Institutions in CDC markets to enter Master Risk Participation Agreements (MRPAs) through which CDC is able to take risk on underlying borrowers. The team also provides direct loans to FIs and to Corporates and is currently growing its exposure to SME trade finance. Risk taken is short term (under 1 year) and is monitored and managed continuously by a dedicated portfolio management team.

FS Debt - The team focuses on structuring senior and subordinated debt transactions across different financial services clients (e.g. Banks, Microfinance Institutions, Non-Bank Financial Institutions, FinTech companies etc), with special emphasis on Climate financing, gender financing and SME financing.  We provide a mix of tenors, but typically in the 5-7year range, but can go longer (or sometimes shorter) if required.  The team comprises of 10 investment professionals, plus one (1) team assistant.

 

Responsibilities

  • Supporting senior members of the team and colleagues working on new debt and TSCF proposals.
  • Preparing initial and quick analysis of investment proposals, providing the team with clear guidance on whether to consider a proposal or not, in line with the strategy of CDC.
  • Provide desktop review of identified potential transactions, which will serve as input into Pre-screening and Screening IC papers.
  • Contributing to sector and country strategies, collecting market data and other ad-hoc research and analytical activities relevant to CDC’s FS debt and TSCF business.

 

The Candidate

  • Analytical and research skills (including the ability to analyse Financial Institution (“FI”) reports, sector data, macroeconomic and relevant political events);
  • FI credit analysis skills and ability to analyse an FI’s financial statements and make commercial assessments; strong writing skills in English required.
  • Good business communication and presentation skills;
  • As a member of a small team, a flexible and “hands on” approach is a prerequisite;

Background

  • University degree or equivalent and currently enrolled in an MBA programme or equivalent programme
  • Demonstrable business experience, preferably in a financial institution
  • Demonstration of identity with CDC’s proposition including:
    • An awareness of and appreciation for CDC’s objectives
    • A desire and passion to be part of CDC’s strategy and participate in its work
    • Evidence of high-performance standards in previous positions

 

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

 

CDC 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 CDC, and why you have chosen to apply for this business area / team
  • Please apply for one internship only
  • Position opened: December 1st 2021
  • Position closes: January 7th 2022
  • Salary: £57, 685 (pro-rated over 8 or 10 weeks)

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

Apply now