Help Framing Story for RMBS S&T job
Hi, i'm a current senior trying to really break into hy credit research. But due to not getting a return offer from my previous internship, I'm just applying to anything that remotely makes sense in the fixed income world. My internship experience has been Municipal Credit Research and Research/Investment Analyst at a CLO manager. I applied to a RMBS S&T job with Bank of America and was wondering how to frame my "Why RMBS?" for any potential interviews or any resources people have to get up to speed on the basics of the industry
Read Fabozzi for background, understand how they work, how they're hedged and traded, etc. Understand why institutional clients would want to be purchasing RMBS, understand the difference between agency and non-agency.
I think the best answer to this question is always something genuine. What about RMBS is interesting to you? Structured products are quite a niche sector of finance, why are you drawn to that? Make it personal and show your interest. Gamifying this answer runs you the risk of making it sound quite robotic and disingeunine.
Hey there, future finance whiz! It sounds like you're on the right track, and I'm here to help you navigate this journey.
When it comes to framing your "Why RMBS?" narrative, consider the following points:
Draw from your past: You've got experience in Municipal Credit Research and as a Research/Investment Analyst at a CLO manager. These roles have likely given you a solid foundation in credit analysis and understanding of fixed income products. Highlight how this experience has sparked your interest in RMBS and how it has prepared you for the role.
Show your passion: RMBS is a complex and dynamic field. Show your enthusiasm for diving into this complexity and your eagerness to learn and grow within this space.
Connect to the future: Talk about how you see RMBS fitting into your long-term career goals. Maybe you're excited about the analytical challenges it presents, or perhaps you're interested in the broader role it plays in the economy.
As for resources to get up to speed, the WSO Courses and WSO Academy offer a wealth of information. You might also find it helpful to follow industry news and trends, and to review any available materials from Bank of America about their RMBS operations.
Remember, the goal is to show that you're not just looking for any job - you're looking for this job. Good luck, and don't forget to have some fun along the way!
Sources: My Story: From Trading Floor at UBS To Entrepreneur on Kickstarter, 1st Year S&T Analyst Lateral to Investment Banking, Credit Risk Analyst - My Experience, Credit rating agency experience
I applied to the same role and I came off a S&T internship this summer. Goodluck!
I’m also applying to this role. What exit ops come from a job like this? Could one move to a different trading product, or ib, or real estate?
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