Dresdner Kleinwort Wasserstein, graduate training case study: Lee Richardson

On which divisional training programme are you enlisted?

Global debt- credit derivatives trading.

Which subject did you study for your first degree and at which university?

I studied a four-year mathematics degree at the University of Exeter.

List the subject areas covered so far during the graduate training programme.

Accounting, bond math, presentations, derivatives mathematics, economics, company valuation, computing.

Which subject has proved most challenging?

The most challenging area for me was economics because I had not studied it previously. Once I had built up my knowledge, I was able to read financial news with greater understanding of the effects of economic events.

Which subject has proved most interesting?

The bond math and work on derivatives pricing was the most interesting.

How have you been taught, i.e. in classrooms, remotely, through mentoring?

We've been taught in classrooms, which was stimulating because of the opportunity to problem-solve and discuss concepts within small groups, and also allowed us to develop contacts in different areas of the bank and make friends.

Has the training programme reinforced your interest in the area that you applied to, or have you become aware of other (more) interesting divisions of the bank?

The training programme reinforced my interest in credit derivatives. Although the course did not specifically cover them in any detail, I found the work on options and swap pricing interesting. My eyes were also opened to other products within the bank and how they relate to credit derivatives.

Have you spent time at off-site training centres? If so, how did this differ from being on a university campus or hall of residence?

I have spent time at off-site training centres preparing for my SFA (Securities & Futures Authority) examinations. This work was different from university lectures, being more focussed and covering more detail in shorter periods of time.

Is being on the training programme proving more or less of a challenge than the final year of your degree course?

It is a challenge to continue learning at a high rate while also being actively involved in the day-to-day work involved on a trading desk. Work needs to be completed faster than at university and to a higher quality.

My position is more challenging than my final year of university.

Is the training course what you were expecting? If not, how does it differ?

The training course was thorough, although once you begin working in your chosen area the learning process begins again. The course gave an overview of many areas and an understanding of how different parts of the bank fit together.

What would you recommend about DrKW's graduate training course?

I think it was thorough with a good grounding in all of the main subject areas, introducing areas within the bank that you might not have considered before. The training course proceeds at a rate which is not too fast for beginners but not too slow for the experienced. The chance to make friends and a network of contacts within different areas of the bank is useful.

Was the provision of training something that you took into account when you applied for a graduate position at DrKW?

Definitely, when I applied the bank's reputation of having a good training scheme was important - as was the prospect of joining a bank where continued professional development is encouraged.