Daniel Kruczek – Summer Internship

My name is Daniel Kruczek and I am a scholar of the British Alumni Society 2012, I studied in Ellesmere College and currently I am doing Econometrics and Economics degrees at the Erasmus School of Economics Rotterdam.

Thanks to the British Alumni Society BAS I had the greatest pleasure and honour to spend my summer on two internships in Poland – at the Warsaw Stock Exchange and at the Gdańsk Institute for Market Economics. During my stay in Warsaw and Gdańsk I was given the opportunity to gain understanding of how the stock exchange operates and where the priorities of WSE lie, whereas in Gdańsk I was assigned to a group working on forecasts of trends for Polish banks in such fields as corporate banking, consumer credit and innovation (trends in mobile banking and e-banking).

I started with the internship in Gdańsk at the “Banking and Financial Markets” department. It was my utmost pleasure to work with the group, my tasks mainly focused on calculations of a wide variety of indices and ratios related to the topic of consumer credits. At that time the department was working on forecasts for a major Polish bank concerning the changing trends on the market of consumer credits and comparing our position with the European standards. After carrying the calculations and drawing the graphs we would discuss how the indices would be used and what is the actual meaning of my work; it was a very beneficial as not only it gave me  a practical knowledge but also it broadened my understanding what is the decision making process, which aspects take into account and which ones should be omitted. It was probably one of the best moments to join IBNGR for the internship as it was during  the European Financial Congress  organised by GAB (Gdańsk Banking Academy) in Sopot.

Shortly after finishing the internship in Gdańsk I moved to Warsaw and started the internship at the Warsaw Stock exchange where I joined the Analysis, Strategy and Development department. Despite the summer season WSE was as hectic as one would imagine, contrary to the work in IBNGR. There were significant differences to the previous internship, I had to go through an administration procedures and was given a tour around the building. At the very beginning, just like at the IBNGR, I was given a list of tasks and what were the expectations of the supervisor. Key focus of the department to which I was allocated was high frequency trading HFT and what approach should the WSE adopt at the face of the growing importance of algo-trading. Before the internship my knowledge on the matter was strictly limited, but thanks to the special introductory courses and meetings organised for the employees I was able to gain some valuable insight on the matter. What is more I attended preparatory courses for managing the internal portal of WSE departments and had the chance to give it a go myself. On a daily basis my work focused on carrying out similar calculations to the ones in IBNGR and research on alternative e-trading platforms posing a challenge to WSE. I was also very happy to attend the debate “Influence  of OFE on the capital market” that was organised by the Gdańsk Banking Academy.

I would like to thank British Alumni Society, especially Marzena and Andrzej Reich, my supervisors Marta Penczar from the IBNGR and Jarosław Przyborowski from the WSE for giving me such a fantastic opportunity. I strongly believe that it has given me valuable experience and gave inspiration.

Daniel Kruczek