Bank Using Misleading Job Description?
I'm trying to make sense of a job description that I recently came across in my FT recruiting. The role is listed as an Analyst role in Debt Capital Markets at one of the Big Five Canadian investment banks. Reading through the job description however, it had much more of a regulatory emphasis and made little to no mention of building out financial models, pitching clients on debt issuances or other tasks one would expect in a DCM role. To add to the confusion, the salary listed is typical of a DCM analyst. This is particularly important to me because I've formed a relationship with an alum on the DCM team who's offered to talk to the recruiter for me if a role opens up there. Wouldn't want to apply for something I'm unsure of. I've copy/pasted a part of the job description below- you guys be the judge of whether or not I'm missing something here. If I'm not looking at your typical DCM analyst role here- what am I looking at?
Job Details
The Analyst DCM contributes to the profitability of the Debt Capital Markets business, ensuring positions are within approved limits, while maintaining and enhancing the Bank’s profile and market share.
Depth & Scope:
- Provides enhanced and detailed analytical support to the Debt Capital Markets Originations New York partners in developing the banks Debt Capital Markets Origination clients in the U.S.A., ensuring underwriting positions and swap exposures are within approved limits, while maintaining and enhancing the Banks profile and market share
- Contributes to the strategic objectives of Debt Capital Markets and recommends new opportunities for client development
- Your position consults with the banks other operations in Canada, Europe, Asia Pacific and the U.S. to assist in meeting the firms objectives
- You will observe strict adherence personally and at a desk level to the firm’s procedures
- You will understand and comply with Policies, regulatory and compliance requirements, ensuring that transactions are fully documented and processed accurately and in a timely manner
- Your position possesses specialized and expert knowledge of market data, economic information and key industry developments as well as regulatory standards at all times to assist in maximizing profitability through sound business decisions
- Position develops and maintains contacts with market participants and supports syndicate operating in supplying market information to partners within the DCM group
- You will be responsible for practicing and communicating bank policy information and strategy between your product head and relevant DCM personnel
- You are required to demonstrate governance, control and risk management behaviours in alignment with policies and practices
Based on the most helpful WSO content, the job description you've shared does seem to align with some aspects of a Debt Capital Markets (DCM) role, but it also includes elements that are not typically associated with an analyst position in DCM.
In a traditional DCM role, you would expect to see tasks such as:
However, the job description you've shared seems to have a heavier emphasis on regulatory compliance, risk management, and strategic objectives. It also mentions providing analytical support to the DCM Originations partners, which could potentially involve some financial modeling, but it's not explicitly stated.
The role also seems to involve a significant amount of interaction with other operations within the bank across different regions, which might not be typical for a DCM analyst role.
In conclusion, while this role does fall under the DCM umbrella, it seems to have a broader scope than a typical DCM analyst role. It might be a good idea to reach out to your alum contact for more clarity on the role and its responsibilities.
Sources: BB DCM Analyst, ECM/DCM for Career Banking
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