MO/BO Interview, Any Tips?
Its for a decent sized AM firm. Are these usually all fit or are there a few technicals thrown in?
Description -
Principal Responsibilities:
· Perform daily trade and portfolio reconciliations for investment funds;
· Daily cash forecasting reviews for investment funds;
· Review and ensure timely trade settlements;
· Review and resolve trade breaks in coordination with the traders;
· Prepare and review of all collateral balances and movements; create daily margin/collateral movement reporting;
· Distribute daily trade files to custodians and fund administrators;
· Reconciliation of credit events on derivatives and corporate actions on equities and bonds;
· Prepare portfolio performance, risk management and regulatory reports;
· Reconciliation of the administrator’s preparation of monthly NAVs;
· Serve as point of contact for the prime broker, administrator and other service providers;
· Perform selective investment-related due diligence;
· Review all communication sent from underlying managers and ensure they are distributed to the appropriate groups and stored properly;
· Participate in special projects and other duties as required;
· Attend the monthly valuation committee meetings.
Don't talk about how you want a FO job or that you are a FO material.
This.
Could you explain? I was interviewing for a major financial firm for mo/bo earlier and I think I might have gotten dinged because I responded to the "what are your future plans question" by saying that I wanted to ultimately break into their corp strategy or equity research department
That's exactly what I meant. You should always focus on that you can do the job. When being asked why MO/BO, always say you are more interested in operation/ how to design work flow. You like to be on the ground, improving systems and managing people. You know that other people want FO roles but you want to be able to learn more about how the banks operate its daily to daily operations. You are more interested in the operation aspect of a bank. Something along those lines.
If they asked you about future plan, focus on how you would want to move up the rank within the group. Right now, you just want a chance to prove yourself. As you gain more experience, you are open to change role based on the needs of the firm and the group.
Tell them you're just looking for an opportunity and will gladly do whatever is needed. Also, show some drive towards your future (mention that you'd like to study for your cfa- that'll show you have more drive than 90% of their direct reports).
Can anyone elaborate on this? I saw it from searching
I doubt you'll get anything technical, just have an opinion on the market and know the basics of how a trading desks work (i.e. different desks fx, equities, high yield etc) and how trade support works under them. Have a general idea of what trade support does! That was important. A great buzzword to use is "trade lifecycle."
That means that after a trader books a trade, we take it, clear it through the back office, validate with the counterparty, and send it through to payments/funding. Also know why you want to be in support.
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