was wondering if people knowledgeable in equity derivs area could comment on this position and if they think it would be a good stepping stone to go into equity derivs sales
its with one of the stronger equity derivs firms on the street
Here is the description of what the position is about
help is appreciated
-He’d be a part of the structuring team focused on hedge funds financing activities. Essentially, we provide financing to entities (funds of funds mostly) who own hedge funds. In return we get a spread on our financing and we have the underlying hedge funds as the collateral. Our trades are not typical equity derivatives trades, they are more like structured financing trades and therefore not too complicated but we have a very large book of clients and trade a lot.
-Structurer manages the entire work-flow of our team’s activity. From the initial contact with the client, review of the hedge funds portfolio, drafting of the term sheet, to requesting of approvals, making sure all constraints are addressed, reviewing legal documentation, making sure trades are properly booked, solving any issues that may occur during the life of the trade, etc.
-review hedge funds and run a stress-test on them (using our established, Excel based, model)
-give analytical feedback to sales and structuring on the quality of the portfolio
-draft term sheets
-start approval process: draft deal summaries, follow up on the approvals
-summarize trades to support teams, make sure trades are properly booked, make sure approvals/documentation is properly filed
-review legal documents to make sure they reflect business terms, know where to get crucial trade terms from the legal documents
-know where to go to find info on our trades and clients, be able to provide summaries on trades/clients/our team’s activity, generate reports
-interact with a number of different teams (sales, trading, client service, legal, credit/risk, middle and back office, IT)
-do ad-hoc projects (some VBA work, not very programming intensive though)
The description sounds like you're analyzing hedge funds in a broader portfolio, not the actual underlying instruments themselves, no less equity derivatives. With respect to exit opportunities, it looks like you'll be developing a skill set more suitable for a fund of funds type of role, which is far from equity derivatives sales.
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