Jun 29, 2023

Anyone have thoughts on Atlas SP?

I know the firm is CS’ spun off securitized products division which is owned by Apollo. Does the firm just securitize products or does it also trade and/or invest in them. Since it’s no longer a bank I wasn’t sure if they were allowed to take prop positions.

 

Apollo bought it to source asset-backed debt for Athene. They are still doing public securitizations, but I think the main business is warehouse lending, which is basically asset-backed direct lending.

Pretty sure I read that they were part of a group that recently bought a bunch of consumer loans from credit unions, so I assume they are doing some principal trading of the underlying assets. For what it's worth, banks can do that with whole loans too (just not securities).

 
Funniest

Apollo FIG guys don't understand the irony of spending billions of dollars to buy a business that specializes in asset-backed financing and then claiming that, actually, they're experts in it and can do it all by themselves! 

 

No idea. Nothing was said. It’s unclear because it’s the first process they’ve ever had

 
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My coworker and I are both in the process for Atlas. Hes doing it for SA 24 and Im FT. Interestingly enough the process for us is a bit different.

He goes to a target school while I am from a non-target. He got his notice for round 2 in the office last week while for me, I had my round 2 virtual and I just did my survey for round 3 in office. I think FT have more screening process and the C-suite wanted to meet the candidates more from what I have heard.

Questions are mostly behavioral so have like a solid story, listen to the info session that they held and be very genuine. The interviews I have had were very easy going and the interviewer I had honestly wasn’t try to pick a fight so take it easy and just stay honest. To the behavioral questions have a solid experience you can refer to instead of some bullshit that people pull with no prior experience. They ask a couple follow up questions and you don’t want to not have a backup and have them think you are full of shit.

Aside from that, pretty much it. Will give more insight once I am more through the process. Personally I think this is a great place to start your career at and sort of a last chance for those who missed banking recruiting timeline. This program is a 2 year rotation and you get exposed to a much broader aspect of the business and that experience is definitely valuable in the long run.

 

Had the same experience. Is there a round 3 for SA? Hearing otherwise

 

So im in round 3 rn and I don’t want to disclose too much of a private conversation between an interviewer. In short they are expecting to see at least a few more rounds (1/2/3 who knows ;)). And then after that it seems senior boss wants to meet the candidates.

Give or take your mileage may vary with this information but seems like their one month timeline might not be accurate just because they have a new HR and they are still wrapping their head around this and creating the process from scratch for Atlas.

 

Hey I am also interviewing for SA 24. I have my second round next week , Do you have any idea about what are some key behaviral questions they ask ?

 

Did you guys network heavily for the role? Do you think they’ll care a lot about networking?

 

I can’t say for my colleague, but I did. Since the industry is a bit niche (unless you a huge 2008 fan) then the quickest way to learn about the industry is to read it up on M&I and then asking your questions.

I started with current summer analysts upwards to a director. So I would say yea, networking matters so you have the proper high level overview of the business and not sound like a idiot in an interview.

Tldr: I was asked on how much I know about the business and I name dropped what each person person told me that was unique in their eyes about the firm. Really impressed my interviewer.

 

Know they sent out an offer or two for SA but don’t think they’ve sent out everything

 

Curious how they evaluated candidates if interviews were entirely behavioral, did not hear back for SA yet so assuming I'm dinged

 

Most likely that those offers were given out as they had exploding offers, but you never know. Did you hear anything else?

 

There’s probably more but they simply haven’t posted yet. I know someone who got an offer FT but he hasn’t posted it on LinkedIn yet.