Claire Cornaille
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Claire Cornaille
Société Générale (Hong Kong) - HEC MIF Finance - Class of 2010
« Precision and excellence are at the core of the training but we also learn how to grow away from models »
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Where are you doing your internship?
I am working within the engineering/pricing team of Société Générale (SGCIB) in Hong Kong.
Can you describe a typical day at work?
We arrive every morning around 8.30am. Some Asian places have already opened. We deal with the first pricing requests that salespeople have already sent us. We take care of all the pricing requests of the exotic derivatives structures on interest rates and hybrids (IR x FX) of the zone. As time goes by, more pricing requests show up and deals are concluded. We work with traders to cross check and apply pricing rules, compute technical margins, sensitivities, greeks...
When a deal is done, we validate the term-sheet and inform the middle-office. Besides those real time requirements, we develop and work on new payoffs to propose innovative solutions and widen the product offer. Around 7pm, when pricing requests start to be less numerous, we use the time for sharing ideas with sales, trading, marketing and other engineers teams. A normal working day ends around 8.30pm.
Why would you recommend the HEC MIF Finance to someone who wants to become a structurer?
The strength of the education in HEC MIF Finance lies in its balance between technical education and the acquisition of financial intuition. A pure technician cannot be a good structurer in the sense that a proactive behavior is constantly required. At the same time, the rigor of a technician is absolutely necessary, in that a tiny mistake can lead to huge loss. The MIF brings both aspects in. Precision and excellence are at the core of the training but we also learn how to grow away from models.
Some professors are active market practitioners. They provide us with a practical sense that makes the difference during interviews. Connecting topics is also of prime matter in the market finance world. It is for instance essential to understand where the financing needs come from. The multiplicity and completeness of the curriculum is a valuable asset.
Any advice to candidates to the program?
Stay motivated. Succeeding in finance is a whole process that takes time. Sometimes a good idea doesn’t work, but you have to keep thinking outside the box. Perseverance will pay off at the end. Do not hesitate to either ask questions or share ideas. The diversity of horizons and backgrounds that we observe among teachers and students of the HEC MIF Finance is a tremendous stimulus.
- Interview in September 2010 -
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