Frequently we will often hear about the glamorous parts of each profession whether its working on billion dollar acquisitions and modeling in, meeting with management in , and underwriting billion dollar acquisition financing in corporate banking. However, each group will inherently have a set of mind numbing repetitive tasks that prospective monkeys are unfamiliar with.
What are the most mundane / admin tasks you do as part of your job, how time consuming is it, and how often do you do it?
I'll start. In corporate banking you spend 40-50% of your time underwriting new deals and more so if you are in a group that gets a lot of deal flow (HC, sponsors, etc.). The other ~40% of your time is spent monitoring existing exposure to clients and doing annual/interim reviews.
Now for the less fun part, the other 10-20% is driven by internal processes.
- Internal risk ratings: Essentially all banks have a proprietary internal rating system on a numerical scale for determining how risky a company is which is calculated by a probability of default of the obligor over a period of time. Depending on risk of obligor and specific bank policy, these internal ratings will need to be refreshed quarterly - annually.
- Moody's Risk Analyst / Hyperion Financial Statement "input" - Most bank's use software created by Moody's to enter company financial statement line items into a program which then can be used to feed into other bank systems, create ratios / other financial analysis outputs, etc. This data dump can be quite tedious.
- Answering questions from product partners, canceling existing facilities, responding to requests - Lots of little admin / adhoc stuff here and there from documenting the cancelation of a limit to running profitability returns for a new deal (estimating revolver utilization, etc.)
-Compliance training (enough said)