Corporate Finance & Treasury/ Investment Banking

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A GOLDMAN
SACHS
SUPPORTED
STARTUP AT
IIMB’S
NSRCEL
Career Conversation
Corporate Finance & Treasury/ Investment Banking
by
Debraj Banerjee
Associate Principal, Investment & Strategy Professional
Tilden Park Capital Management LP

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A corporate finance & treasury management professional with 12 years of global
experience across India, SEA & ME regions.
2007: Started career as an
engineer in Thermax; contemplate
doing MS in US after 2 years
2010: Asked to lead a new
business in SE Asia. Yaay! First
international opportunity
2013: Start thinking about MBA
again; this time I understand why is
it required. Score 750 in GMAT
2009: Soon, started talking in
financials ratios/ multiples.
Selected into leadership
development programme. The MBA
world unfurls
2008: Get called by CFO’s Office;
join the corporate finance group;
MS plan goes out of the window;
next is CAT ( Score 98.7 percentile
2015: Graduated | A roller coaster
ride! Got into a big start up. Decide
to experiment; salary not the
driver; exposure was. Started
doing something which I never did
before; Treasury Mgmt & strategy!
2017: Exit Start up; the start up
becomes a bank. Although not
much of capital accretion but tons
of experience accretion!!
2018: Led a 9 decade old bank’s
strategy & capital management;
led M&A and also asset
diversification strategy. Exit by
Dec, 2019
 During the past 12 years; I have
 Lived & Travelled across the globe ( 11 countries)
 Made some awesome friends
 Have written (collection of short stories); picked up
photography and have taken my first step towards a venture
 Realised that there is more to life than just a career
 Also that Dilbert is a necessity in corporate life!
elephant credit
Empowering women micro-entrepreneurs with
actionable loans & initiative-based entrepreneurship
skills. Sold at 5x multiple to a leading NBFI in Thailand
My start up-
linkedin.com/in/banerjeedebraj
2014: Selected for EPGP, IIM
Bangalore MBA Programme.
Woah! Hit by a train!
2020: Consummated a $300
Million transaction in one of the
largest Pvt. Sector Banks in India

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Corporate finance roles
Key work responsibilities
• Planning financial requirements
• Raising funds | Capital Structuring
• Investing funds in assets
• Capital allocation and RoI
• Working capital management
• M&A
• Exit Strategies
• Risk management

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Investment Banking Roles
Key work areas
• Advisory : M&A, fund raising, restructuring
• Sales
• Financial modeling, pitch decks
• Investor/Banker management
• Client management
• Account management

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Q&A
1. How does the career of IB progress, 5 years and 10 years down the lane?
In Investment firms, it will be, Associate, Senior Associate, Principal, Vice President,
Director, Managing Director, Managing Partner, etc.
2. How easy is it to move from IB to Risk Management team in the future, if we
started out as IB?
Why do you want to do that in future? Not a straight answer, but it is possible.
3. Should I be joining a large scale IB or a boutique firm
This is suited to your needs; Large Scale IB’s may have limited options for you but
pay is good; Boutique firms shall offer you exposure but pay will be less. Many other
aspects to ponder over. We can discuss

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Q&A
4. Does Inv. Banking companies prefer one year experienced MBA
professionals?
From the past data people with finance experience/ or people who are interested in
finance, not many people have gone to IB roles (not directly IB companies but say
Transaction Advisory Services in Big-4 etc.). These roles coming to campus will be
very niche, hence trying outside is advisable.
5. What are the roles being offered in IB by companies is it more of a generalist
role or specific ones. ?
Analytics & Origination are the basic diversification. You can either be in research/
diligence or you may be doing direct sales and coverage.
6. Without relevant past work experience in Finance, is there a possibility to
land into Finance career roles after MBA?
Yes, it is possible. Make yourself relevant by doing projects, networking etc.

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Q&A
7. What’s the preferred list of academic courses or certifications for making a
career in Investment Banking?
Corporate finance, M&A, Project Finance, Excel/financial modeling, Valuation,
Derivatives, Economics, Accounting, etc.
8. Please share the interview process for IB roles for 1 year MBA?
Most pre-interview scrutiny of resume’- shortlisting, then , quant/analytical test, then
financial modelling test, then ppt. and then lot many individual interviews with several
seniors of the IB practice.
***Pre- interview scrutiny includes lot many aspects.

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Risk Management Roles
Key work responsibilities
• Assessing the inherent risk in any system, process , product and building mitigating
strategies for the same
• Building models and assessments to quantifying risk
• Adhering to regulatory guidelines and preparing/overhauling policy guidelines
• Inculcating a risk culture in an organization

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Risk Management Roles
Key work areas
• Advisory : Transactions | Process
• Quantitative modelling
• Policy Management
• Stress testing

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Q&A
1. How does the career of Risk Management progress, 5 years and 10 years
down the lane?
Risk Consulting will have a typical ascendancy like in other consulting engagements;
in an organization however, it can typically start from an executive and move one to
manager, senior manager, AVP, VP. SVP, Head, President-CRO
2. How easy is it to move from Risk Management to IB team in the future, if we
started out as IB?
Not an easy option; it is quite a difficult changeover.
3. Is it rewarding career option?
Monetarily it will be lesser than IB, but on a satisfaction basis, it might provide you
with more options of roles and learnings

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Q&A
4. Does Risk Management companies prefer one year experienced MBA
professionals?
From the past data people, I’d believe that such roles are often offered. Consulting is
the best way to proceed and thereafter a changeover to an organization will be a good
way of proceeding in this career. However, direct engagements in Banking, etc are
also quite fulfilling.
5. What are the different options in Risk Management being offered
It can either be a very quant heavy profile or a customer engagement/ knowledge
based profile. Quant heavy roles are often better remunerated
6. Without relevant past work experience in Finance, is there a possibility to
land into Risk Management career roles after MBA?
Yes, it is possible. Make yourself relevant by doing projects, networking etc.

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Q&A
7. What’s the preferred list of academic courses or certifications for making a
career in Risk Management?
Finance, Analytics, Operations, economics will hold key.
8. Please share the interview process for Credit and Risk management roles for 1
year MBA?
Most pre-interview scrutiny of resume’- shortlisting-case study ( online or offline)-direct
interview ( single or multiple rounds)- psychometric or personality tests- meeting team
members- salary negotiations- offer letter.
***Pre- interview scrutiny includes lot many aspects.

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 A crisp presentation of all the skills necessary to take a financial decision can
be provided by a well informed and read MBA candidate
 The candidate should be able to articulate strategy in various ways but the
best is the objective and simplified version. Can you do so?
 Finance and Accounting – annual statements, NPV, ROI, Cash Flow
Analysis, etc.- Can you ace it and be confident about your base knowledge?
 Operations – Can the candidate understand how to design the process flow
for a particular assignment/ project and run it independently with proper
governance?
 OB and HRM – Do you understand how an organogram be designed with
proper incentivization that is suitable for the case in point?
 Marketing – How do you go to the market with your strategy?
How can MBA help?
Synthesize, operationalize, execute

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 Strengths: Is technical in nature | can correlate to most of the things that are
happening around | can be rewarding if the right career is chosen
 Weakness: Is comparatively repetitive; requires long hours | Stakeholder management
is pretty challenging | change management is forever ongoing
 Opportunities: New age development and the explosion of Big Data and Fintech with
mobile usage presents a huge Digital revolution in India. The inset of derivatives and
the inclusion of private and foreign players may make the investment space more
vibrant. Investment houses who were predominantly looking at only real estate are
now more and more looking to invest in healthcare, technology, others. Foreign Banks
are looking at more risk weighted returns and diversification of assets; economies like
Dubai, Hong Kong, Vietnam ( other SEA countries as well) are at an advantage
position
 Threats: Traditional Banking can be wiped off in the next decade. Automation like
voice and eye imaging to be used in credit underwriting. Small financial institutions are
always challenged with existential issues on account of ever changing policy paradigm
and eventful economic downturns
Analysis of a career in finance

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 Diligence | Active networking | executive presence | awareness
 Firefighting to be the order of the day!
 Ability to survive repetitive work and scope may not be well defined
 Relationship & Stakeholder management
Mantra for Success

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Questions??
Thank you!
You can reach me @ debrajbanerjee@hotmail.com
https://www.linkedin.com/in/banerjeedebraj