Interview - SMBC Capital Markets

Hi all -

I recently made my first post discussing my interest about breaking into IB, and my current career/skills. I've been talking to some MM banks, but have an interview coming up at SMBC CM for a FI Deriv Analyst position. While the position isn't directly IB (in any sense it seems) I wanted to get some insight on thoughts about the role.

My following comment gives information on the role. This is definitely good interview practice, but I don't know if I'd take the role granted an offer.

Comments (9)

May 22, 2017

To save some time on the job description:

Create presentations and client marketing materials regarding market developments, trade ideas & hedging topics.
Model derivatives trades in support of live execution, credit exposure modelling, and client requested analysis
Participate in pre-trade checks including documentation, compliance and credit
Manage post trade processes including trade booking, confirmations, reporting and P&L
Oversee trading documentation including ISDA Master Agreements & CSAs.
Manage counterparty credit process including requesting and maintaining trading lines
Lead role in researching client financial statements and other marketing activities

"I'm not fat. I'm cultivating mass."

May 22, 2017

Okay, based on what I am reading, you're going to learn a shit-ton about markets and how they operate. SMBC is a solid org with a lot of talent. Before I say anymore, how old are you? And what is your previous track record?

"He who makes a beast of himself gets rid of the pain of being a man" - Samuel Johnson

May 22, 2017

2 years out of college, job experience in post below and more in previous thread.

"I'm not fat. I'm cultivating mass."

May 23, 2017

Sounds more like a junior role on a sales desk with some middle office responsibilities. Honestly, not at all relevant to IB, but that does not mean it is a bad job.

May 22, 2017

With an end goal of being climbing the SS ladder, or becoming an analyst on the buyside (still note sure FI Deriv space is for me - chose it as most difficult and more unique/standout), how do you think this role would position me in the future. Some aspects of the job sound a lot like a research position, but with sales integration.

"I'm not fat. I'm cultivating mass."

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May 22, 2017

bump

"I'm not fat. I'm cultivating mass."

May 22, 2017

Here is a (short) PROs and CONs that I've thought up:

Pros:
1) Transition to the sellside from Financial Services, which can be quite difficult
2) Learn from intelligent colleagues at respected boutique (top 20 on league tables)
3) Get better understanding of how SS operates, work along side traders - opportunity to transition?

Cons:
1) Puts myself into a silo, compared to an IB group like DCM that allows for more opportunities (outside of the derivative space) when transitioning in the future
2) Obviously jumping the gun, but salary seems about 30% lower than what I currently make. This can be discussed of course given I am offered the position
3) If I eventually go buyside (HF/PE), this (IMO) guarantees the type of securities I'll be working for the rest of my career. Not positive that I want this - and I can be wrong with this assumption
4) Opportunity cost

"I was hoping to get some insight on whether there are any (recommended) recruiters in the IB industry that look to hire potential employees who are not straight out of college.

Any insight would be helpful, thanks."

"I'm not fat. I'm cultivating mass."

May 22, 2017

Regarding my previous track record - the biggest weakness is that I do not currently work on the sell side, and my long term goal is the buy side.

"I'm not fat. I'm cultivating mass."

May 25, 2017