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12 Month Internship - Middle Office Rates Analyst

Vacancy details

General information


About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)

Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2022).
8,600 employees in more than 30 countries across Europe, the Americas, Asia-Pacific, the Middle-East and North Africa, support the Bank's clients, meeting their financial needs throughout the world.
Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital market activities, investment banking, structured finance, commercial banking and international trade.
The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.

For more information, please visit


By working every day in the interest of society, we are a group committed to diversity and inclusion. All our positions are open to people with disabilities.   



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Job description

Business type

Types of Jobs - Corporate & Investment Banking

Job title

12 Month Internship - Middle Office Rates Analyst

Contract type


Term (in months)

12 Months

Management position


Job summary


In a dynamic and International environment, you will participate in the control and support functions of the operations initiated by the London Rates & Cross-Asset Front Office, from the negotiation and recording of the transactions. Your role will be to facilitate and to smooth the processing of the operations in the processing chains by ensuring an effective and relevant support to FOs based in London. As well you will support MO Post-Trade and Operation teams based in Paris.

You will develop various skills: knowledge of financial products such as Interest Rate Swaps, bonds, FX products either vanilla or hybrid & Cross-Asset.
The position is based in the dealing room London. You will report locally to the London Rates team Lead and globally to the Head of Paris IRD Middle Office.

Key Responsibilities

The role of the intern will be to support the Rates Middle Office team in the following activities:

  • Ensure the proper booking of the transactions.
  • Contribute to the development of a reliable and effective first level of control function for the dedicated perimeter.
  • Participate in various projects related to client business development, to optimize secure transactions and provide control of risks.
  • Participate in business projects such as new markets development or new products, new regulations and market rules.

Main tasks and responsibilities on the area you will support :
1. Validation / Booking

  • First level of trade input control in FO systems (manual bookings)
  • Ensure exhaustiveness of daily captures
  • Ensure exhaustiveness of Term-sheets sent to other Rates & Equity MO teams
  • Modifications in FO systems (valuation impact control)

2. Post trade issue

  • Trade Lifecycle Management (booking of events in FO systems)
  • Supervision of exercises and expiries of trade options
  • Investigation & follow-up on breaks and requests sent by BO or other Rates & Equity MO teams (emails / BSMs)

3. Monitoring

  • Collateral reporting on a weekly basis
  • Monitoring of the Mandatory Clearing Process in Markitwire
  • Monitoring of the Regulatory reporting to DFA & EMIR

4. Other duties

  • Control and coordination of the CVA fees Process on a weekly basis
  • Creation of counterparts and instruments in FO systems
  • Support for FO (reporting, monitoring, creation of ctp, etc…)
  • Ensure the controls and procedures are developed to support the business and reduce operational risk
    • Service Quality and Processes improvement:
    - Propose and formalise any improvements on controls and procedures
    - Develop efficiency initiatives
    • Compliance and Governance
    - Ensure compliance with CA-CIB CMO and CA-CIB London governance and organisation directives
    - Promote operational controls and segregation of duties
    • Control and awareness
    - Exert vigilance to unusual or inappropriate (i.e. unusual, un-economic fraudulent) trading practices or operations

Supplementary Information

Legal and Regulatory Responsibilities

• Comply with all applicable legal, regulatory and internal Compliance requirements, including, but not limited to, the London Compliance manual and the Financial Crime Policy.

• Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training as required to attain and maintain competence.


Position location

Geographical area

Europe, United Kingdom



Candidate criteria

Minimal education level

Bachelor Degree / BSc Degree or equivalent

Academic qualification / Speciality

Candidates must possess a Bachelor's degree or above (equivalent considered) in Finance or Business with the minimum classification of 2:1.


  • Prior short-term experience within a Middle Office environment (i.e. Summer Internship/work experience)

Required skills

  • Good relationship management and communication skills
  • Autonomy
  • Rigorous and organised

Technical skills required

  • VBA development


English (fluency required), French (would be seen as advantageous)