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NIBC offers merchant banking in the Benelux and Germany through a combination of advice, financing and co-investment and Specialised Finance in sectors such as Real Estate, Shipping, Oil & Gas services and Infrastructure & Renewables. We put together a hand-picked cross-discipline team for every transaction.
We build long-term relationships with our clients, who include corporations, financial institutions, institutional investors, financial sponsors, family offices and entrepreneurial investors. Headquartered in The Hague, we also have offices in Brussels, Frankfurt, London & Singapore.
Specialised Finance - Portfolio Management Team
In the wake of the credit crisis, there has been an increasing focus in the financial sector on liquidity as a risk factor to stability within the financial system. Besides increased risk-awareness among investors, who demand a higher return on long-term investments and corresponding increase in e.g. mortgage interest margins, this focus is also visible through regulatory reform under Basel III, will embed liquidity risk mitigants in banks’ capital requirements.
NIBC holds a residential mortgage portfolio of approximately €9 bn, which is funded through securitisations and internal funding. On the liability-side of the balance sheet, more than €5 bn in retail savings have been deposited through NIBC Direct, NIBC’s online savings platform. This amount is stored both on on-demand accounts, which allow overnight withdrawal of deposits and term deposits across two jurisdictions.
As part of the periodic evaluation of funding strategy this graduation internship is designed to investigate the liquidity risk associated with funding (part of) NIBC’s mortgage book directly with retail savings. The focus of the research project will be on liquidity characteristics of retail savings and residential mortgages, including quantative assessment of these characteristics and scenario-based stress-testing. The new requirements for liquidity risk management under Basel III should also be taken into consideration.
Internship
The internship will be carried out in the Portfolio Management team in the Retail Markets division. The team is responsible for managing NIBC’s mortgage portfolio, and carries out the main part of the quantitative analyses for NIBC Direct. Apart from colleagues from the Portfolio Management team, you will also work with colleagues from the Treasury and Risk Management departments. Interns should ideally major in (Macro-)Economics or in Econometrics. The details of the research questions of this internship will be decided in close contact with the University thesis supervisor.
The goal of the internship is to develop a liquidity framework which assesses the risks of funding (part of) NIBC’s mortgage portfolio directly with retail savings. The output of the framework should focus on assessing liquidity risk both qualitatively and quantatively. Additionally, the impact on pricing of retail savings and/or residential mortgages of liquidity risk indicated by the framework could be estimated.
Requirements
Candidate Profile
Entrepreneurial academic students, team players with above average grades and strong analytical and numerical skills, flexible attitude, perseverance and creativity.
Education
Preferably Academic in (macro) Economics or in Econometrics.
Contact
If you are interested in this position, you can contact the NIBC recruiter Frouke Röben: 070-342 5568 or apply through www.careeratnibc.com
