Would the "Asset Backed Securities" group of an IBD be a worthwhile internship experience? Assuming the goal of IBD -> PE -> Greatness, of course. Seriously though, not very familiar with such a group and would appreciate some insight.
Description: [Group] is a leader inand underwriting and origination. Provides full service securitization, origination, valuation, structuring and distribution services. Provides secured asset-based lending facilities, creates customized financing solutions across diverse asset classes including: auto; credit card; student loan and residential mortgages. Coordinates and works closely with Syndicate and secondary . Client base consists of top national and international consumer finance and financial institutions
Role: Support analysts and associates on current, in-process securitization and lending transactions
Coordinate deal closings with such groups as outside legal counsel, rating agencies and corporate trust departments in addition to multiple intra-company departments (Legal, Operations, Finance, etc.)
Assist with marketing presentation preparation
Provide updates to company qualification database
Update departmental work-in-progress database of current deals
Assist with preparation and distribution of deal related information
Assist in construction of a morning updates for clients featuring market data, research and market flows
Assist with client on boarding and organization of other documentation, such as corporate agreements
Support Syndicate Trading desk
Sound any good? Front office or not? Leverageable to a more traditionaloffer for full-time (at same bank or other)? Any insight into what I'd actually be doing would be much appreciated.
Would you pick this group or Equity Capital Markets?
Thanks in advance.