Structured Products Intern Interview

I have an interview soon with a Structured Products group of a large Japanese bank (Sumitomo Trust). This is for a summer internship position. I don't really know anything about what this position entails or what the interview would be like. Any insight is greatly appreciated.

The description is as follows: "Structured Products Department is investing in CDO products and managing CLO Equity Positions"

 

As far as what will the interview entail, I'm not sure what to tell you. But for a good overview of structured products do a google search on Chris Culp, he's a University of Chicago Professor & written extensively on CDO & CLOs. Also, there's a good (although long) article by Gary Gorton from Yale that will give you a great view of how the products work and some insights on the melt down in liquidity. These combined should help you have at least conversational level understanding of the market.

Good luck. Jose

Professional Bro, J. Cans
 
Best Response

You should try to do some research and find out what products they structure/invest in and learn more about them. I can tell you from experience that for an internship like this they don't expect you to get overly technical or know everything about how to structure products. They expect you know all the same markets and technical analysis that a normal S&T interview would, but they would also want you to explain what a CDO is in simple works......group of securitized products placed in a Special Purpose Vehicle. They are grouped together to lessen the risk because of default. Also, know one or two factors that affect their value. Simple general stuff about the product. As usual the goal is to show them that you know what you are talking about and make them like (most important).

Expect to be doing the same thing all S&T interns do..research, projects, helping traders and salesmen, getting coffee....search this site for more details.

Good Luck.

Edit--I was typing when the other post was posted. The same "Good Luck." Is complete coincidence.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

Also know basic things like how a Mortgage works. Then build upon it to how they can be grouped, securitized and tranched.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

Voluptas maiores qui fuga qui. Earum vel nesciunt suscipit rem dignissimos. Voluptas ipsum inventore rerum voluptatem ut non earum exercitationem. Accusamus cupiditate veniam ad dicta tenetur qui doloribus. Mollitia sint est sit provident et. Ut alias cupiditate et tempora et.

Et cumque quae ipsum. Et odit cupiditate cumque velit. Debitis repellendus vel aliquid.

Eum tenetur quam a magnam rerum deserunt. Exercitationem nobis iure tempora in suscipit ut. Et aut dignissimos sit in qui recusandae iste.

Et ut accusamus qui ratione magni nostrum. Perspiciatis qui magni voluptatum dolorem. Nulla quam harum placeat doloribus. Corporis doloremque repellendus voluptate quidem suscipit. Quas eos explicabo harum expedita quo. Impedit quis maxime sint qui libero temporibus quia.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”