Senior Debt Capital Market Originator (m/f)
- Brussels, Bruxelles-Capitale, Belgium
- Permanent, Full time
- Belfius Bank- en Verzekeringen
- 26 Sep 16
Belfius Bank & Insurance Belfius is Belgium’s only 100% integrated bank and insurance company. Belfius provides assistance for 3.5 million personal customers, self-employed workers, professionals and SMEs. Belfius is also number 1 in the public and social sector and a leading financial partner for large companies. In the insurance market, Belfius plays an essential role through a range of different channels and brands. As a committed bank and insurance company, Belfius also aims to be the driving force of the community and the power behind satisfied customers.
Belfius staff are the fuel and lubricant that makes this financial engine run smoothly. Which is why Belfius focuses on employing people who are committed, people who enjoy going the extra mile for customers, people who feel involved with the organisation and who want to make a real contribution.
The department Capital Markets Origination (CM Origination), which is part of Financial Markets, is responsible for providing solutions and advice to Belgian corporate and public sector clients on raising debt (DCM) and capital (ECM) to finance investment projects, treasury needs, acquisitions or refinancing and restructuring existing debt.
CM Originators will work with a client to organize borrowing and to help provide access through syndication and sales teams to a global pool of bond and equity investors who are looking for opportunities.
Within the CM Origination team, a DCM originator delivers integrated bond raising solutions for PCB and RCB clients such as Belgian Regions, municipalities and related public entities, utility companies and corporates in Belgium.
Our Debt Capital Markets service covers a wide range of products and services: Retail Bonds, Public and Private bonds, Commercial Paper, (E)MTN Private Placements and bonds) and EMTN transactions. Our offering includes structuring, placement and execution of all DCM instruments providing capital market access to clients. We manage the whole debt issuance process, including marketing efforts preceding the transaction for our clients.
A DCM originator works closely together with the Legal teams (Financial Markets and RCB), BO Capital markets teams and the different Sales & Trading teams within Financial Markets, but also with the Relationship Managers and other product specialists from Marketing RCB and PCB and Back-office and Research teams in the Belfius network, advising on a wide range of debt funding opportunities in the public and private Euro Capital Markets.
What does an Originator do?
Originators work with their issuer clients to bring new bond issues or programmes to the market. In practice, this means that individual originators will communicate with their clients on a regular basis in order to provide market intelligence and other information relevant to the client’s funding needs.
Originators communicate with issuers using the telephone, email, physical meetings and presentations. The originator will provide recommendations on when and how to issue new bonds in order to meet the client’s objectives. This whole process is in close partnership/cooperation with the bankers and senior management.
Transaction recommendations are conveyed to the client either verbally, as emails or as slide presentations (generally produced in Power point). In some cases, when a client has a specific funding need, it will invite each of its relationship banks to present a formal transaction recommendation at a physical meeting (known as ‘beauty parades’).
When an issuer decides to issue new bonds (or undertake any other DCM-related transaction), it will mandate banks to execute the transaction on its behalf. The objective of an Originator (and the Capital Markets department as a whole), is to be mandated on as many transactions as possible.
In most cases, banks are not paid directly for the advice and intelligence that an originator and their colleagues provide to the client. Instead, in providing this advice, the Originator hopes that the client will mandate their bank to execute a bond transaction, on which revenues are generated.
During the execution of a new issue, the Originator undertakes a general advisory and organization role, helping to ensure the transaction is launched successfully. This can include:
• providing advice to the client during the course of the transaction process e.g. which type of bond issue and documentation to use, where to set price guidance, when to open the order books;
• negotiating all transaction documentation with the Issuer, other syndicate banks mandated by the issuer, lawyers, and all other involved parties;
• planning and organizing investor marketing of the new issue, e.g. investor presentations and hosting roadshows to support the issuer in meetings with potential investors;
• organizing and chairing regular conference calls amongst the parties involved in the transaction, e.g. to provide progress updates to the client;
• overseeing the other parties involved in the transaction, e.g. bank legal teams, external lawyers.
The originator has ultimate responsibility for the coordination and success of the transaction.
• comparable DCM origination experience and/or proven product and process knowledge (institutional bonds/private placements, retail bonds, ...);
• technical and legal knowledge of DCM products is key, given in the current environment of increased requests from PCB clients about product presentations, but also the increased regulatory environment for DCM people;
• knowledge of deals and pricings;
• required skills: project leadership, presentation techniques, negotiation;
• you need to able to run and lead a mandate towards internal and external parties in often stressful environment;
• highly motivated, flexible and dynamic profile;
• showing a level of initiative that allows Belfius to take the business forward;
• fluent knowledge of 3 languages ENG-NL-FR (written+ oral);
• university degree.