Credit Ratings Agency Interviews

Hello, I have an interview with one of the Big 3 credit ratings agencies soon for an entry-level position, and am wondering exactly what type of questions I could expect. Can anyone help with this?

 

Really work on your answer for why you want to work at a CRA. I think that is the most important aspect you should consider before the interview.

During my interview process I wasn't asked anything too technical. At some point you will likely have a writing assessment and excel assessment.

I currently work at a CRA so if you have any questions you can message me.

 
Best Response

Writing assessment should be given by HR and really just screens your ability to read/interpret a standard report of maybe 3 pages in length. It won't test your ability to make a rating decision, just to summarize the report in a page (which very well may be a copy/paste and rewording job).

There may be an excel test which should be no more difficult than hunting and pecking for data and inputting into the right boxes. This would involve understanding how to follow a previous analyst's work (if they combined these two numbers for last year, do it again for this year). You may have to scan across 3-4 documents to find the info including a 10-q, 10-k, earnings presentation, or press release. Nothing crazy if you know how to find data in general.

General advice on the interview -- be humble, but show some interest/knowledge in research and especially credit. Know the difference between equity and credit analysts. Assuming you don't know what industry you'd be placed in, know the basics of credit analysis and accounting and apply to a general business (walk through revenue down to EBITDA). Know what CFO/FFO/FCF are. Be generally interested in the market. If you don't know something, say you don't know BUT THEN ASK WHAT IT IS. This will show curiosity. Thank the interviewer for that information and reaffirm that you're there to learn these things. Make sure you don't ask about something super basic though. Know the basic stuff.

Most importantly, have questions to ask and be conversant on your personal life/hobbies. Rating agencies stress work/life balance and culture fit. Don't be cocky or a stiff the whole time.

 

Hey, I have an interview with FR in a couple of days. It seems that you have been through that interview process as well. I would greatly appreciate it if you could please share your interview experience (both 1st and 2nd round) with me.

 

I would say the interview was roughly 10-20% discussion about technicals/industry you will be covering and more so about how you will fit in the group.

Just be sure to know your industry relatively well, have your elevator pitch down and expect some behavorials.

Also, I had an Excel test and was tasked with writing a 1 page report. Like I said, know how to analyze FIs.

 

If it's an assessment given by HR, it'll likely be something along the lines of reading a 3 page research report and summarizing the key points. If it's assigned by the interviewing team, it's up to them to determine the end goal or task so I couldn't help you there.

Typically if it's a junior role though, it'll be a standard HR assignment to see if you know what the key issues are and can read, comprehend, and summarize information in a relatively short amount of time.

 

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