I'm currently part of a finance rotation program at a BB.
My present role is within product control and I get to switch roles every year (3 yr program).
I would like to know which position would be best if I want to a front office role sometime in the future: valuation or fp&a?
Thanks.
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Having already worked in Finance at a BB in the past, I assume when you mention Valuation you are talking about the "Pricing" team within the Finance Division, right? (validate the pricing and do valuation for trader's positions, derivatives, etc).
Well, if the above is the case, I'd say that FP&A is a pretty good one, since you will develop some modeling skills - you will mostly do budgeting & forecasting, working with some front office people to get pipelines, projections and understand any significant variance in their P&L - so it's also an opportunity to network and of course learn. What you can try to do, is to get into the FP&A for Investment Banking products (at least in my bank, the FP&A guys were divided by product, like Lending, Derivatives, Investment Banking, Corporate Banking, etc) - so if you can put yourself to work as an FP&A analyst for IB, this would help you a lot in landing an IB position (front office).
Another interesting area in Finance at BBs is the Accounting Policy unit - you learn a ton of things and once you understand pretty well the balance sheet of a bank and its accounting policies I can guarantee you will understand everything else in terms of accounting.
Feel free to ask any questions.
Hi guys,
I'd be interested to know if this route would still apply. I am currently on a similar finance rotation scheme at a BB, and plan to have a year in product control (fixed income) and a year in FP&A. Would you say this could lead to a potential move to either fixed income S&T (probably sales) or DCM?
Thanks.
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