The State Oil Fund of the Republic of Azerbaijan attaches great importance to human capital development in its staffing policy, as it is of great significance for the organization. With more focus on capacity building Fund creates new opportunities for talented young people.
The State Oil Fund of the Republic of Azerbaijan announces internship program among the last year bachelor and master students and university graduates. SOFAZ Internship Program will play a crucial role in the career development of last year bachelor and master students and university graduates. The purpose of the program is to assist local and foreign university graduates in gaining a preliminary work experience, contribute to the formation of specialized and professional young work force, as well as train and recruit promising young people for careers in investment management.
Short description of the program
Departments for which interns are recruited:
Internship program for the year of 2013 will be arranged in SOFAZ’s Asset Management Administration which is comprised of two departments:
Investment department- Investment Department deals with the management of the currency reserves of the fund, monitors the current situation at the financial markets, conducts analysis and research on fixed income securities, equity investments, commercial real estate and private equity funds, purchases and sells securities, implements daily routine monitoring of the securities in the portfolio, and develops proposals for the application of new financial instruments.
Risk Management Department develops the analysis and proposals with regards to the fund’s Investment Policy and Strategic Asset Allocation (SAA), carries out selection of the benchmark in line with the identified SAA or establishment of a composite benchmark, conducts measurement and management of risks, calculates investments’ profitability, develops reports with regards to the investment activities, and conducts supervision on the activities of external managers.
Duration and stages of program:
Generally the internship program runs for 6 weeks. In case if the Asset Management Administration department heads see any necessity to prolong the program for a better assessment of the intern’s skills, the program is extended by 2 more weeks. The program consists of 5 stages:
I stage: Orientation stage. During this stage interns are given general information about the fund, its internal structure and management, responsibilities of different major departments and their role in fund’s activities, and more detailed information about the department that an intern is admitted for internship. Orientation stage also aims to introduce the department heads and staff to interns as well as to give them useful advice for successful internship.
II stage: Training stages. This stage, gives interns general understanding about investments management and financial markets & instruments and starts with live training sessions. After interns complete live trainings, they are assigned self-study topics to increase their field knowledge. The self-study topics are assigned using SOFAZ’s e-training module – Intuition Learning System, a highly advanced and quick to deploy Learning Management System (LMS).
III stage: Real Case Assignment stage. In this stage interns are assigned to a real project in the department they are admitted to. While working on a real case, they may conduct market research, analysis of a particular investment or a listed company, external manager’s performance evaluation, sample portfolio risk analysis, etc. İn the end of the real case assignment stage interns make presentation on the case they worked on.
IV stage: Accomplishment stage: If the intern is passing internship in the Investments Management department, he has to also get a gist of what the Risk Management department does and vice versa. The accomplishment stage is considered solely for this purpose. All interns spend end period of their internship in the alternative department and get to know how it functions and joins its activities with the intern’s primary department.
V stage: Final Evaluations: During the last 1 – 2 days of internship program interns are evaluated by the department heads based on multiple criteria. Simultaneously interns evaluate the internship program based on different characteristics. This period defines whether an intern is given a job offer. All interns are awarded with internship certificates.
Requirements for Internship Program Applicants
Internship Program Benefits
Applications are received on a rolling basis throughout a year. The admission process is comprised of 3 stages. At first stage applicants fill in the "online application form" on SOFAZ web page. Selected applicants are invited to take SOFAZ internship admission exam as a second stage. The admission exam covers questions in such topics as
Candidates who pass exam with the required score are invited to 3 step Human Resources and Department Interviews in the third stage.
Human Resources Department, The State Oil Fund of the Republic of Azerbaijan
Neftchilar av. 24, AZ 1000
(+994 12) 498 77 53 (ext. 118)firstname.lastname@example.org