How to prepare for an asset finance interview

Know who you're meeting

Asset finance employers can look alike from the outside, so the first job is to understand where this one fits.

• What kind of business is it? A funder or a broker, a bank's asset finance arm or an independent, a manufacturer's captive finance company or a fintech lender.
• Where do its deals come from? Brokers, direct customers, dealers and manufacturers, or a mix.
• What does it finance, and for whom? The assets, the sectors and the typical size of deal.
• What's new? Read the news on its website and in the trade press, and look up your interviewers on LinkedIn.

It also helps to know how the market is doing. The Finance & Leasing Association publishes monthly figures for asset finance new business, and we summarise the main points in our news.

Have your examples ready

Most interviews ask you to talk through real situations. For each one, say what the situation was, what you did and what happened. Use numbers you can stand behind: overstating them is easy to spot and quick to check.

Sales and BDM roles

• A deal you won, and how you found it
• A broker or customer relationship you built from nothing
• A deal you lost, and what you'd do differently
• How you plan your week and manage your pipeline

Credit roles

• A difficult deal you approved, and why
• A deal you declined or restructured, and how you explained it
• A decision that didn't work out, and what you learnt
• How you handle pressure from sales for a quick yes

Operations, collections and support roles

• How you keep accuracy high when volumes are high
• A process you improved
• A difficult conversation with a customer, and how it ended

Expect a task at the later stages

Second interviews often include a task: a set of accounts to assess, a plan for your first 90 days in a territory, or a short presentation. Say what you've assumed, show your reasoning, and keep it simple. A clear answer with its limits stated beats a complicated one.

Be ready for the practical questions

• Why this role, and why now? Have a positive reason for moving, not only a reason for leaving.
• Notice period and restrictions. Know your notice period and whether your contract restricts you from contacting customers or brokers.
• Pay. Be honest about your current package and clear about what you're looking for. If you're working with us, we can have that conversation for you.

Questions worth asking

• What would success look like in the first six and twelve months?
• Why is the role open?
• For sales roles: what's the credit appetite, and how quickly are decisions made?
• For credit roles: what lending authority comes with the role, and how does it grow?
• How do sales, credit and operations work together here?
• What are the business's plans for the next year or two?

On the day

• Video interviews: test your camera, sound and connection beforehand, and find somewhere quiet.
• In person: plan your journey and allow time for delays.
• Take notes in with you. It's fine to glance at them, and it shows you've prepared.

Afterwards

Make a note of what went well and any questions you found hard, then tell your recruiter while it's fresh. Feedback goes both ways, and your view helps them get the next stage right.

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