Internship in Country Risk Management at J.P. Morgan
Prior to attending SIPA my experience was in banking; however the reason I chose SIPA for my graduate studies was to transition into a role that offers more of a macro and international picture, allowing me to work in a field where macroeconomics, capital markets, and risk meet and of course a role where I am challenged every day and get to learn and apply my skills. I had the chance to work in Country Risk Management (CRM) at J.P. Morgan during the summer. It all started with three representatives visiting SIPA to host an information session in the fall of 2013. What followed was an application process, consisting of four phone and four in person interviews. I consider myself fortunate that I received the opportunity to be a part of the team and the culture at the bank, because this is a dream job for a SIPA student. It was a 10 week internship, starting in June with a couple of weeks of training. The first week I was part of the Sales & Trading (S&T) Markets Training group, where about 100 interns were trained on basics, such as what is equity, what is a bond through how markets are supposed to behave to how financial derivatives fit into the bank. The second week, I took part in a more risk specific training to be prepared for my eight weeks at the desk. Before the training weeks were completed, students were formed into groups of four to prepare a case study to competitively pitch to senior management.
After some valuable training I was excited to finally join my CRM team and to apply my skills learnt and advanced at SIPA. The team in CRM was relatively small on a global basis and therefore I had a chance to work closely with colleagues also based in London and Hong Kong. The eight weeks were packed and I had several deliverables on top of assisting with ad-hoc tasks. However, it was a super learning experience and with the great support of the team I was able to master my objectives successfully. My summer objectives were based around the main work the team does, such as internal ratings of countries and measuring the exposure risk the bank experienced.
The summer program was well structured. Each intern had a junior and senior mentor, who assisted the intern throughout the summer. Throughout the program there were also different social and professional events. Social events consisted of visiting a New York Yankee game and having dinner at different places. The professional events included senior speaker series with management from the bank. These were all very interesting; however I would say the highlight was when Jamie Dimon spoke to us and shared his experiences in banking and at J.P. Morgan.
My summer experience at the bank has been wonderful and it was great to meet so many professionals with whom I look forward to staying in touch and working together in the future. It may be the fall semester only; however the sooner you start looking for your dream internship, the higher the chances that you will be working there during the following summer. Good luck!
by Andreas Maerki, MPA International Finance and Economic Policy Dec ‘14