Client Service interview prep.

Behavioural questions to expect

1. Walk me through your CV.
2. Tell me about a time you owned a client-service problem end-to-end under deadline.
3. Tell me about a weakness, a failure, or feedback you've received and worked on.
4. Why an institutional client-service seat in long-only asset management — and why now?
5. Why the firm?
6. Where do you see this role taking you in 3-5 years?
7. How would you describe the firm's offering and how the client-service team fits in?
8. Walk me through how you'd approach mandate, IPS, and guideline monitoring on a new account.

Technical concepts to master

• The institutional client landscape

  Public + corporate pension plans · Endowments + foundations · Insurance general accounts · Sub-advisory + intermediary / platform

• Mandates, IPS + investment guidelines

  IMA (Investment Management Agreement) · IPS (Investment Policy Statement) · Guideline monitoring + breaches · Side letters + bespoke terms

• GIPS + performance reporting

  Composite construction · GIPS-compliant performance presentation · Attribution · Fee + return conventions

• RFP + DDQ workflow

  RFP vs DDQ — what each is · The RFP / DDQ library · Sign-off chain + the SEC Marketing Rule · Project management + the bid / no-bid decision

• Client communication + complaint handling

  Service-channel discipline + recordkeeping · Underperformance dialogue — honesty + attribution · Complaint logging + escalation · The follow-through commitment + 48-hour rule

Practical drills

• A consultant has just signed the firm to a $250m public-pension mandate for the flagship strategy. The IMA is being finalised. Walk me through your onboarding from handoff to first quarterly review.
• On a quarterly review call, your flagship strategy is down 150bps vs benchmark this quarter. A public-pension trustee says, 'We've heard this story before. Why should we stay invested?'. Walk me through the next 10 minutes of the call.
• A client wants to subscribe $200m into the commingled fund at the next month-end NAV strike. The fund's prior-month-end NAV per share was $124.50. The fund charges a 65bps annual management fee, billed quarterly in arrears on average daily AUM. (a) Estimate the number of shares the subscription will buy at the next strike. (b) Compute the quarterly fee on the new $200m at the stated rate. (c) The client also asks if a $50m in-kind transfer (a basket of securities) is possible at the same strike. Walk through the mechanics + any operational gotchas.

Smart-question anchors

• Client base + vehicle mix - the institutional split (pension / endowment / insurance / sub-advisor), the SMA vs commingled balance, and how it's evolving
• PM partnership rhythm - how the CSA and PM run a typical quarter, where the CSA adds the most value beyond reporting
• RFP / DDQ flow - typical RFP volume per quarter, the library + tooling, and how bid / no-bid decisions are made
• Consultant relationships - the firm's named consultant relationships and how the CSA supports them
• GIPS + reporting tooling - the firm's performance + attribution system, and any reporting platform investments

Sourced from

Mergers & Inquisitions — Asset Management careers + client-facing seats · CFA Institute — GIPS standards + Investment Policy Statement guidance · Wall Street Oasis — Asset Management client-service threads · InterviewPrep / Glassdoor — Institutional Client Service interview questions · SEC / Investment Company Act + Investment Advisers Act guidance