Internship #7 – The beginning of the end

Week seven as summer interns at Nordea Markets in Oslo. With only one week left, the beginning of the end has started to show for our interns ...

By Henrik Hvesser, Niels Joachim Stang and Magne Eie Ledsaak

How time flies

Yet another week has passed by and we are now in our last week of the summer internship. The beginning of the week will be focused towards wrapping up the various projects we’ve been working on over the summer. Towards the end of the week, we will be presenting our findings and overall experience towards the management. We are all amazed by how fast the past seven weeks have gone by. We’ve learned a lot over the summer, being continuously challenged with exciting projects.

Back to school

As mentioned in previous blog posts, we’ve attended the summer academy each Thursday. During the sessions, we have been lectured in each of the core business areas of Nordea Markets – from DCM to Investment Products and Distribution. Since we’ve worked on relatively narrow projects, the sessions have been scheduled to teach us about what happens outside our internship bubble on the 6th floor, culminating in an hour-long final exam last Thursday.

The exam is not only for educational purposes though, as the two interns with the highest performance will be attending lunch with Snorre Storset, Head of Nordea, Norway and Wealth Management. Needless to say, everyone spent several days going through courses on the online education platform FitForBanking and previous summer academy presentations to bring their A game. The winners will be announced beginning of this week, and we’re all excited to see who will run away with the precious prize. Regardless of the winners, it’s safe to say that everyone has increased their financial knowledge by a large factor since day one. The summer academy has been a great success, and we sincerely hope that Nordea will continue arranging it for future interns and young professionals.

Project X – finally revealed

Full of expectations, Project X was finally revealed. Chief Analyst Ole Håkon Eek-Nilsen introduced us to the project, which involved preparing point estimates for the Norwegian policy rate as well as the EURNOK currency cross for end-of-year 2018. This was our first individual project during the internship and we must say, the project was a bit overwhelming at first. After a few days working long hours, we finally started to get a grasp of what variables influences both the policy rate and the currency cross. Given our short deadline, we focused more on the different relationships between the variables rather than diving into the world of econometric, which in retrospect was a good move. A 20 minute presentation (including Q&A) regarding the reasoning behind our point estimates concluded our project. Following our presentations, Ole Håkon gave us his version of our project – and thankfully, he had focused on many of the same variables that we looked at. We all definitely had some “aha” moments during his presentation. However, only time will tell if his estimates are better than ours …

Top left: Henrik, Niels Joachim and Mina. Bottom left: Anna, Andreas and Magne.

With only one week left, the beginning of the end has started to show. Next week, we will sum up our experiences here at Nordea Markets as summer interns – so keep an eye out for our last blog post, where we will also reveal who ran away with the prize from last week’s exam.

/ Henrik, Niels Joachim and Magne

Don’t miss out on the previous blog posts from our summer interns in Oslo:

Week 1: “We’ve met some challenges …” – by Anna and Niels Joachim

Week 2: “Some of us left with bruises …” – by Mina and Magne

Week 3: “We hit back – the honor was restored” – by Henrik and Andreas

Week 4: “One hell of a week” – by Niels Joachim and Henrik

Week 5: “Undefeated and as ever excited” – by Mina and Magne

Week 6: “More difficult than we thought” – by Anna and Andreas

Get to know a little bit more about our interns; Mina, Magne and Henrik and Anna, Niels Joachim and Andreas.