I have gained a much broader perspective
A degree in Applied Earth Sciences from Delft University of Technoloy and a master’s in Petroleum Engineering & Geoscience might not be the most obvious background for a traineeship at a bank, yet Steven’s profile has proven very beneficial to ING – and vice versa.
“I performed internships in R&D at Shell and on the operational side at exploration and production company NAM. I envisaged a career in that direction, however during my master’s the oil price plummeted and the energy landscape went into transition. Keeping an eye on the future, I started to look beyond the oil and gas sector. Banking did not immediately cross my mind, but the ING traineeship appealed to me because of its training and development opportunities and the chance to gain experience within different teams. On top of that, I was aware that ING Wholesale Banking has a strong presence in the energy sector.”
Assignment in London
“My first rotation was in the Offshore Services team. Through my background I was familiar with this sector, so it provided me an ideal opportunity to get acquainted with the financial side of the business. My second rotation was within Syndicated Finance, which included a three-month assignment in London. A syndicated loan is one that is co-financed by multiple banks. Even more so than with ‘regular’ bilateral loans (where ING is the sole lender), this gives you a look into the full financial arena. Through Syndications I have gained a much broader perspective and commercial mindset. I collaborate with various teams throughout Europe, and work with various financial structures.
When I returned to the Netherlands, I joined the Syndications - Project and Asset Based Finance desk for my first fixed position. I work on transactions in the energy, infra, transport and telecom sectors. The work is very diverse; each transaction has a different structure, duration and interest rate. The financing structures are tailor made to fit the client’s needs.”
The Engineer in the team
“I’m the only Engineer in my team; many of my colleagues have a financial background. As an analyst I prepare documentation that is required to get internal approval for a deal. Our review is focussed on both credit risk and syndication risk. Our team has to stay up to date on the latest market developments regarding interest rates and other financing terms. Therefore I maintain a database containing internal and external information about recent deals, in order to serve as a reference point for new loan applications.”
“During my master’s and graduation project I was used to focus on one specific topic for a long period of time. In my current role I am learning to keep a lot of plates spinning at the same time. My team and I collaborate with other banks to arrange various transactions in various sectors, often under time pressure. We have to persuade other banks to participate in a certain transaction, whilst sometimes only limited details are available. This provides for a steep learning curve, and whilst I still find the energy sector fascinating, I am getting increasingly comfortable on the financial and commercial side.”
Steven loves outdoor sports such as sailing and skiing. He also enjoys tourskiing, and is qualified to work as a ski instructor in Austria. He lives in Amsterdam.