Audit Intern Review
by Bank of England
This review was submitted over 4 years ago, so some of the information it contains may no longer be relevant.
Rating
-
The Role
4.2
-
The Company
4.2
-
The Culture
4.0
- 1. To what extent did you enjoy your work placement or internship?
- 2. To what extent did you feel valued by your colleagues?
- 3. To what extent were you given support and guidance by management/your supervisor(s)?
- 4. How busy were you on a daily basis?
- 5. How much responsibility were you given during your placement?
- 6. To what extent did/will the skills you developed, and training you received, assist you in your degree studies and beyond?
- 7. What was the general atmosphere in your office?
- 8. How well organised was the overall work placement or internship set up?
- 9. In terms of personal training and development, to what extent did the company or firm invest in you?
- 10. What were the perks on your work placement?
- 11. How appealing are future employment prospects within the organisation?
- 12. Was there a good social scene amongst any fellow placement students/colleagues?
- 13. What was the cost of living and socialising in the area you worked in?
- 14. What was the Nightlife like in the area you worked?
- 15. Were there many opportunities to get involved in activities outside of work?
The Role
A good break from education where got to display other skills and develop them. Bank staff are really approachable and are willing to help whenever you want, they'll teach you everything you need to know from the beginning. Work life balance is great - 9-5ish and you can leave the office. I learnt a lot this year and will definitely apply for the grad scheme.
You have to put in the work to get extra valued. Bank staff are fair, they won't push you too too hard, so you have to ask for more work if you can handle it.
At the Bank, you will get a weekly "bilateral" with your line manager, where you talk about how your week has been, and development points - this is half an hour, but they're still approachable and will help if you ask outside of this. There are two performance reviews during the year.
Very busy, I work directly with the Funding for Lending Scheme (FLS) as a junior collateral analyst, it get's busier and busier as new counterparties sign up.
Quite a bit, one of the great things about working at the Bank of England especially front/middle office, is that you will feel powerful, just as the Bank is as part of the financial system. Examples: I'm determining how much bank's can draw under the FLS, chase counter parties for info, correcting counter party's data sheets, speaking to CEO's and heads of treasury etc.. If you don't feel you have enough responsibility, you can ask to help the other analysts with what they are doing.
My specific middle office role in Risk management required less economic knowledge, it was more finance, but I know of other departments that will relate a lot with economics such as monetary analysis, financial stability or centre for central banking studies (CCBS) and so on. However, the interpersonal skills that I have developed during the year will be invaluable for the future. I attended some training courses on secutitisation, Advanced spreadsheets training (excel is important in the finance industry), intermediate writing, time management. I attended a couple of Pre- Monetary Policy Committees (MPC) where the executives including Mervyn King receive analysis from senior managers or head of divisions about what has happened over the month.
The Company
My directorate - markets is quite lively, and people are always communicating verbally, everyone friendly, there are always team lunches in the canteen.
Placement student's will have inductions and training and throughout the year. Meeting's with line managers to set tasks.projects.
I have taken excel training throughout the year an took the advanced spreadsheets ECDL exam paid for by the Bank. Have been to group training e.g. course on securitisation.
Subsidised Canteen
Subsidised/Company Gym
The placement programme at the Bank of England does not feed through to the graduate scheme, I will still have to re-apply.
The Culture
Social scene is great, most of us finish at 5-6pm and go out to P&P, Abacus, counting house, be@1 & more!
There is Happy hour in a lot of bars in the city from 5-8pm every night.
The city mainly has a lot of bars, but still close to the West end/shoreditch for clubbing.
Lots of Volunteering opportunities and sports societies.
Details
Placement (10 Months+)
London
August 2014
