Internship #1 – We’ve met some challenges …

Follow our summer interns in Oslo, as they share their thoughts and experiences of working in Nordea Markets during the summer.

From the left: Magne Eie Leedsak, Anna Emilie Endreson, Niels Joachim Stang, Mina Randjelovic, Henrik Hvesser and Andreas Gudmundset

By Anna Emilie Endreson and Niels Joachim Stang

First impression

As cliché as it sounds, our first week went by in a hurry. On Monday, we were welcomed by Jon Birger Tysnes, Head of Risk Advisory, Norway and Martin Christensen, Head of Business Development & Support, Norway, who led us into the massive world of Nordea’s strategy, hierarchical maps and structure. At first it seemed a bit overwhelming but once we managed to wrap our heads around all the different business areas of Nordea, most of the pieces fell into place. The financial jungle of abbreviations is still not fully explored but we’re starting to understand parts of the jargon, including TARFs, PRU and FRAs.

We have also been introduced to the managers at FICC. We received a warm welcome from management and all our co-workers who were eager to teach us about their passion, whether it was programming in SQL/C++, structured products, the FX market or the long term strategy for Nordea.

Projects and tasks

The first days flew by as we were divided into groups and given projects, which we will complete in a few weeks’ time. Despite not working directly together on a day-to-day basis, we get along really well after just a week.

We (Niels and Anna) have three weeks to create a benchmark model of all the companies in the OSEBX and OSLSFX indices, to present the companies’ hedging policies. We will look at interest rates, FX and commodity derivatives to identify which companies use these instruments to hedge their risk.

For two finance students like us, the project is really interesting, as we have to dig into annual reports and notes. We have met some challenges, especially regarding the lack of information in the reports considering the companies’ use of derivatives.

“For two finance students like us, the project is really interesting, as we have to dig into annual reports and notes.”

In addition to our main project, we have several other daily tasks. For instance, we attended an interest rate meeting on Tuesday – and quickly discovered that we have quite a bit to learn about swaps and forwards.

Summer academy

On Thursday, we attended the first summer academy session where we got to know about the program as well as the other participants, including both new employees as well as all the other summer interns. The summer academy is an educational and social program where we will learn about the different departments and products in FICC as well as participate in social activities after the presentations.

Thursday evening, Nordea had prepared an informal dinner for us. Here, we got acquainted with everyone and got the opportunity to ask questions about the different departments in Markets FICC.

Lars-Christian Kran, Head of Sales & Research, Norway and Martin Christensen were responsible for this week’s presentation and gave us advice on how to be successful in our careers, such as cultivate your main skills, be yourself, have fun and a bit of luck along the way. Afterwards everyone went out to grab a few drinks. The kick-off was in other words a big success and we look forward to next Thursday.

/ Anna and Niels


Don’t miss out on getting to know our six summer interns in Oslo. Click here to read about Mina, Magne and Henrik – and click here to read about Anna, Niels and Andreas.

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