Structured Finance Lateral Analyst Interview
Hi all—
Interviewing for a lateral analyst structured finance position at an international bank. Questions for traditional IB positions are reiterated on this forum often, but I noticed the structured finance isn’t brought up too much.
Would anyone have any insight into potential interview questions (both fit & technical) that could be asked?
A little about the bank, they work on roughly 15-20 ABS deals a year, mostly auto-loans & credit card. They haven’t done any esoteric asset classes yet, but I understand I could be asked about that.
A little about my background, 3rd year analyst at a CRA (S&P/Moody’s/Fitch) with some exposure working with on ABS deals in my first year.
Appreciate the help.
bump
I’m assuming you haven’t been in the structured credit space for the past 2 years since you said you were only exposed to in it your first year. They’re going to ask you about knowing the general breakdown of the. Seems like you’ll be joining a securitization team at the associate level or senior analyst level, so they’re gonna expect you to know about what’s included in the PPMs such as priority of payments, payment schedules, subordination and credit enhancement clauses. And if you’re working on student loans you’re gonna want to show them that u know how to model for situations of forbearance or deferred payments. Know the general terms that are thrown around a CDO structure, and how price yields affect prepayments and defaults. Know how to amortize a loan. Know at least the equations for arriving at a CPR and CDR. There’s a lot more, but if you’re coming from a non structured credit background for the past 2 years, I doubt they will expect you to know too much more than that, and I’d be surprised if they were bringing you in at the associate level without having that background recently. Either way good luck!
Appreciate the answer, very helpful. Can I PM you if I have any further questions?
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