Hi everyone, I have recently passed the level III and now looking to apply for the membership and obtain the charter. Nevertheless, I am kind of stuck with a nailbiter when it comes to the minimum relevant experience requirements. I have 4 working experiences that make up my CV (ordered chronologically). Experience 2 and 4 sum up to more than 4’000 hours so that requirement is met, but I am not sure about Number 3, which would be crucial to reach the 36 months minimum requirement. Can someone help me figuring out? Additionally, I would use for reference my current supervisor (experience 4) and a CFA member, ex-colleague (from experience 2) being these the most relevant.
1) Investment Banking Intern, Full-time Paid (6.5 months) in the Investment Banking Fixed Income Sales division of a Bank. Tasks: Supporting the local sales team in advising banks and institutional clients on fixed income, rates and credit products; Collaborating with Syndicate and Debt Capital Markets to address new issues and secondary trading; Processing client trades and order-related inquiries; Assisting with research activities and roadshows; Requesting the onboarding of customers for various trading platforms; Providing daily capital market updates to internal and external clients; Preparing sales documents (such as bond offers) and statistics
2) Investment Analyst Intern, Full-time Paid (6 months) in the Group Asset Management function of an insurance group. Tasks: prepare macroeconomic research and reports on financial markets discussing topics relevant for the Strategic Asset Allocation of the group; distribution and presentation of such content to an audience of portfolio managers, analysts and asset class specialists which would integrate such information in their decision-making process when selecting investments. Also, I was part of a task force who worked on the development of thematic investing, helping with the definition of investment themes and identification of economic/financial implications within an investment portfolio context.
3)Risk modeling & analytics specialist, Full-time Paid (18 months) in the credit risk methodology of a bank. Tasks: development and maintenance of stress testing models of loan portfolios (i.e., mortgages and Lombard lending) to control the credit risk exposure of the bank and compliance with regulatory requirements (IFRS9, Basel III etc…). The models would be translated into applications made available to the front office (loan originators) so they could monitor the risk of the outstanding portfolios and support lending decisions. About this last point, I have worked on a model aiming at estimating the illiquidity cost of fixed-income securities and integrating it in the haircut applied to such assets, so that the loan originators would have a clearer understanding of the possible exposure at default in case of stress, when providing loans secured by this type of securities, and decide on the feasibility of the transaction and the maximum lendable amount.
4)Research Analyst, Full-Time Paid (19-months and currently my job), Tasks: I actively screen the market for opportunities in the Global Fixed-Income universe (covering predominantly six sectors: industrial, financials, real estate, utilities, energy, and materials), analyze issuers based on fundamental credit research that I develop myself (i.e., three-statement modeling or CAMELS approach when analyzing banks) and then propose possible bonds to the portfolio manager explaining the rationale behind the choice, and defining the size and plausible price at which open (or close in case of disposals) a position. On certain occasions, I directly execute the trade myself, either via an electronic platform using limit orders or by finding the appropriate counterparty amongst the set of brokers I talk to regularly. In the remaining time not allocated to investment decisions, I support the sales team by meeting clients, presenting the products, and developing and maintaining marketing material.
Many many thanks for your support!