Ever heard of such a group?

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 in ABS and MBS 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 trading. 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 traditional IBD offer 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.

 

The downside of ABS is the work will be very specialized and probably not so applicable to traditional IB. But there are many transaction participants when it comes to ABS/MBS, so like the job description indicates, you'll most likely get a chance to work with different professions.

 
Best Response
Equities in Dallas:
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 in ABS and MBS 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 trading. 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 traditional IBD offer 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.

was this job description written and posted in 2006?

 

Just so you're clear, given the prior comments, ECM will not give you private equity exit opportunities. I'm not arguing against it overall, but, given your stated goal of PE, it will put you at the bottom of the pile of bankers' resumes. During associate interviews, we actually ding anybody that says they want to be in ECM because it is known as being very light on hours and a non-transferable skill set. Realistically, you can't expect incoming analysts to know this, so we don't view it as harshly as a potential associate that should know, but I just wanted to give you a heads up on how it is viewed.

ABS/MBS would play well into a credit role at a hedge fund or a related trading desk, but, to be perfectly honest, I don't feel qualified to give you much more info than that. I don't want to be misleading.

 

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