Hey /biz/ have a commercial banking interview soon for a major bank. small to mid size b2b accounts manager/analyst. looking for advice/commercial banking experience, etc. Already checkout internets and glassdoor and was not particularly helpful. majored in finance so thinking about hitting the books and doing some refreshing. what should i focus on? stats? accounting? basically just trying to get a sense of exactly what they're going to expect of me.
No way to tell. If you're in college right now they wouldn't expect you to know a ton, but know these things:
1) Definitions of common terms in the area you're applying for. Don't be like the guy who told a hiring guy a Goldman he wanted to found a hedge fund, and then could explain what a hedge fund was.
2) Have at least a rough knowledge of where the main markets and a few key indicators etc. are, which way they're trending, what you think they're going to be doing in the next year. So they know you're interested.
Apart from that, they could ask you anything so just be relaxed and see what happens. I remember in my college interviews with the bulge brackets they took us out to lunch as well, so brush up on your table manners if you're a total robot.
OH LOOK ITS WAGEKEK PROBLEMS THREAD NUMBER 294847847937
DOES IT SAY WAGEKEK PROBLEMS IN THE LIST OF TOPICS TO DISCUSS ON THIS BOARD?
DO YOU GET PAID A MONTHLY PAYCHECK?
ARE YOU CURRENTLY IN FULL TIME EDUCATION?
WELL FUCK OFF THEN THIS IS THE BUSINESS BOARD
op here. jesus man get a hold of that capslock key. im not posting anything against board rules. dont like it, ignore it. im not complaining about my wage im just looking for information and experience about commercial banking. how is that not business related? fuck man get a hold of yourself.
yeah the job description is kinda vague because you start off as an "associate" which is basically training for like 6 months. then i guess they move you around based on their needs. From the job description it sounds like one part client side accounts management/ sales, and one part loan officer /financial analysis. so im gonna be given leads from the leads management division (or dept i think) for clients that they want me to bring in/ think they will be a good ROI. and then at the same time i will be going though a stack of applications for smaller businesses that want a loan/line of credit with the bank and i need to go over the financials and make sure isnt too much risk, good probably of return, low probability of default etc. sorry i dont have much else never really worked in commercial banking before so i dont have much to go on
If it is a major bank you will probably rotate in credit, sales and back office. What they want to hear is that you have the basic accounting knowledge, is willing to dive heads in to learn the job and can deal with people but depends where you want to be desu. Being a relationship manager is more about bringing revenues than knowing jack shit about the business. I worked with bankers that were complete morons but clients liked them so they weren't fired.
Credit is about numbers, showing you can work with logic and is willing to learn and read infinite amounts of industry information and regulatory requirements. You should also know a bit about balancing risk like why it is usually less risk to lend to an utilities company than a private equity.
If you want a shot at having a fat bonus fast, you should aim to be in sales closing deals but credit is a very good start point at a bank even if you don't deal with clients directly. You get to know what really makes money to the bank and pass on clients to investment banking and other areas. Every executive I've seen worked at credit for one year or more and every area likes someone from credit. Just make sure you don't overstay, one year is more than enough imo.
Just avoid back office. If they start to push "business intelligence", control, portfolio management or operations you should jump ship because they are going to put you in the grinder.
If it is an entry position for analyst, you won't be required much more than reading a balance sheet. Don't lie. If you don't know something, just say so. It won't hurt your chances at all while shaking when they squeeze your answer will.