Risk Control Summer Intern Review

I thoroughly enjoyed the internship at UBS as it provided an ideal opportunity to explore both the function and industry that I aspire to join. This was primarily achieved through a series of organised events that included speaker series lectures, regular meetings across different teams, social events and networking opportunities.

Working within Risk, I had the opportunity to work alongside various teams across the function from senior management to contracted audit firm employees. The UBS culture ensured that employees are comfortable in seeking help, and as a result I had to juggle important assignments from various teams (including urgent and sporadic requests from global offices such as Zürich).

My line manager ensured that with time I developed skills, familiarised myself with the infrastructure and was given projects of increasing importance, with one project directly linked to the head of a particular Risk division. I networked and shadowed across the entire Risk function (Market/Credit/Operational) and was involved in broad discussions about how they are interlaced with one another; in many cases recent graduates provided support by forwarding helpful material in order to maximise the internship opportunity.

My line manager went through a comprehensive list of projects of varying size and importance and through we discussed how they all should be tackled within the 8 weeks. However as I did want to challenge myself, I took upon further projects from numerous teams and also delved into a personal tasks i.e. programming to facilitate a more efficient system operation. The culmination of these projects meant that at times I did work longer than I was expected to, however it was beneficial as it developed time management in a business environment, which I found out is surprisingly different to what is required in university.

Initially I was given administrative tasks/projects of little importance that, however as I became more adept in understanding my role I was subsequently given greater responsibility. The extent of which was that if I failed to sufficiently complete the work on time then it would have had a somewhat disastrous cyclical effect, largely due to the global structure of UBS and the particular Risk division that I was placed within.

In terms of soft-skills, the internship will assist me in regards to group projects and in prioritising tasks more efficiently. As well as that, the training provided such as the comprehensive Excel sessions, along with the self-taught programming skills, will be collectively beneficial both in my degree and beyond. However as expected, I am studying a specialised subject (Engineering) and an internship in Risk would naturally not be as broadly advantageous for my studies.

I worked within and shadowed across various teams (different floors including both the equity and FCC trading floors). Each environment had its own unique ambiance to it, but overall it was a good environment due to the energy and interaction between colleagues.

Overall the internship was organised in professionally and presenting in a welcoming manner. HR in particular ensured that all interns were enjoying themselves and they were very helpful in providing assistance to any queries. The induction week was a clear representation of the time and effort in organising an internship for a large group, where several prominent speakers were invited along with events and prestigious venues. However a major qualm that I had was not being placed in the desired Risk area outlined throughout my application and interview. Even though this seems to have been the case across the internship as a whole, I understand that ultimately the business needs of UBS dictate an intern’s desk allocation. I did shadow as much as I can across Risk, particularly my desired area, however perhaps UBS could have been more flexible in providing interns an opportunity in their preferred areas (including Tech, CCS etc.).

Outlined throughout this rating, UBS provided a thorough and comprehensive internship through different avenues, including external training sessions and internal seminars/lectures. The majority of training and development is of course down to the intern’s passion and the support provided by their team, but overall UBS ensured that interns were more than accommodated and welcomed by employees across the firm as a whole.

Naturally with the Banking & Finance industry, there is a certain degree of competiveness and headcount. Future employment prospects within UBS are encouraging, where the dynamic firm and industry is always changing, particularly in Risk. However in terms of conversion rate, this subtly varies across different firms and divisions. UBS does give the impression that they would like to take on performing interns, however with summer interns competing with placement year students for graduate places (for Risk specifically), the onus is ultimately down to the interns ability to demonstrate their potential.

UBS hosted several grand events throughout the internship that brought together all students. Naturally interns within the same division enjoyed a warmer social scene, particularly for divisions with larger uptakes, however the induction week provided an opportunity for all interns to socialise and plan further gatherings on their own accord (namely on Thursdays).

This varies between interns who ranged from London-based to international students. Living and studying in London meant that I personally encountered nothing out of the ordinary, however it is widely known that the cost of living and socialising in Central London can be costly, especially for students.

London as a whole has an impressive and boundless nightlife with various venues that cater to all crowds. Being based in Liverpool Street, a short walk away from the main UBS offices is Shoreditch, a fashionable and distinctive area that is famous for its clubs and bars.

There were a few opportunities at the start of the internship (induction week) to be involved in community affairs, one such involved giving an insight to disadvantaged students; however this is fairly standard across the industry and internships as a whole. The Risk area that I was placed in did host several events/activities which were entertaining and helped forge friendships. But again due to the relatively short duration of an internship and the nature of the industry, there weren’t universal activities at UBS that I was aware of. Industrial placement students on the other hand do have a wider scope in being involved in community affair projects, but this is correlated to the duration of their placement.