Assignment 1

Corporate Valuation
Muskan Valbani | PGP/24/456

Introduction

The experience with JPMorgan as an intern with the CTC – Market Risk Coverage Team over a period of eight weeks
was extremely enlightening and rendered exceptional learning. The entire journey was well planned out and
involved phased-learning of what the company is about, what it stands for, the linkage of various departments and
teams within and an overview of each of them along with a paced exposure that was provided to the tasks I had to
perform and the final project assigned to work on.

Tasks Assigned and Project Trajectory

I was initially assigned with a routine task of preparing and presenting reports for the weekly meetings of the team
covering a summary of the ongoing events in the markets affecting the team’s portfolio along with any information
that required attention. This provided me an opportunity to explore the market events from a firm-specific approach
and point-of-view, be updated with them, and the preparation of the report exposed me to various resources used
by the team along with the daily interaction with each member of the team to guide me through the same. The
opportunity to present an independently prepared report to a team of associates and executives helped me gain
perspective and also instilled a greater sense of responsibility for the work assigned.

Next I started working with the team on an ongoing tool that was being prepared and whilst this I could get an
understanding of the journey that went behind building the particular tool over and above the existing similar
measures that the firm was already using and building the tool from scratch helped me grasp a better picture of the
portfolio composition and the entire business of the team. The task was built in a comprehensive and visually
intuitive manner to extract maximum gains from the tool.

Simultaneously, I was assigned a project in the first week itself that I had to work on during the entire 8 weeks on my
internship and this entailed a thorough analysis of the monetary policy reaction to the pandemic by the major global
central banks and an impact of the same on JPM. Developing on the history of the monetary policy tools used by the
same banks along with drawing an inter/intra comparison across the banks/crisis-events helped me explore the
scope and future path of these actions and after an in-depth analysis of the same, I proposed the probable impact of
the same on JPMorgan along with the recommendations for countering the probable impact.

Learnings

As the BAU tasks assigned along with the final project covered most of the elements of portfolio and stress, it
allowed me to understand the overall business perspective and functionalities in an efficient manner. With the
appropriate amount of guidance, team-building exercises and constant mentoring, I was able to gain some invaluable
insights making the challenge even more rewarding. I learned a great deal about how the banking world, in specific
the risk management at a banking firm works, and also about the kind of solutions and clientele base that the team
needs to work on. I had the opportunity to learn about various resources in-depth, for which I had to push myself out
of my comfort zone. I also got hands-on with a lot of data-crunching, research and visualization tools. The overall
experience was enriching, and the project deliverables were delivered as expected.