9.15am: I start the day after grabbing a coffee from the staff restaurant and head to my desk in the financial regulation group. I have a skim of the FT, check the to-do list which I made the evening before and start working on the most pressing task.
10.00am: I have a training session on pensions and employment issues in transactions, given by two associates in the pensions and employment team. Although this is not related to my current seat, it is really useful to hear how different groups work together on deals.
11.00am: Once the session finishes, I return to my desk. I am currently working on an application to the Prudential Regulation Authority concerning the amount of capital a company will hold once a merger completes. A few suggested amendments to the application have come through from the client and I am incorporating them in for my supervisor to review.
11.45am: Once my supervisor has reviewed the amendments, I prepare the application, along with the supporting documents, and send a draft to the client for approval.
12.00pm: I start working on the next task on my to-do list, which is to review a debt prospectus, for one of our financing groups, from a financial regulation point of view. I check the references to legislation and double-check that new legislation on the same topic has not come out.
12.45pm: I head down to the staff restaurant along with some other trainees, and choose to sit in the outside terrace area as the weather is lovely.
1.30pm: We have a quick call scheduled with the client to see whether they have any further changes regarding the application to the Prudential Regulation Authority. Once I put those through, I send a final version to the client. They let me know that they approve this final version and have sent it in.
2.30pm: I continue my review of the debt prospectus. The role of a trainee is varied and you need to be able to juggle tasks according to the needs of your clients.
3.40pm: I answer a capacity request from one of the associates in the group. I am asked to do some initial research following an email from a client concerning financial data reporting requirements. I produce a short note and send it back.
4.40pm: I finish my review of the debt prospectus and send it to an associate in my group for checking. Once this is done, it will be sent back to our financing group.
5.30pm: My next task is to prepare a note identifying how certain provisions in an agreement we have drafted will satisfy regulatory requirements. Work in the financial regulation group fluctuates between advising on transactional matters alongside other groups in the firm, such as corporate or financing, and advising on regulatory matters between the client and their regulators.
7.30pm: After finishing the note I decide to do a final read in the morning, with a fresh pair of eyes, to make sure I’ve captured everything. I ask my supervisor if there’s anything else I can do today, make a to-do list for tomorrow, record my time for the day and then head home!