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Hi I've got a technical interview for a Financial Due Diligence SA role in PwC

Deals FDD PwC Interview
New answer on Dec 13, 2022
5 Answers
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Anonymous A asked on Nov 11, 2020

I've got a technical face-to-face interview next week and I'm not entirely sure how to prepare for it. The role is Financial Due Diligence - Senior Associate.

I had one yesterday with a director who discussed a conceptual case study with me and not really many behavioural or CV questions. 

Any ideas? Its based in the Middle East office. Thanks in advance!

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Ian
Expert
Content Creator
replied on Nov 11, 2020
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

This is tough. In essence, you should really be prepared for anything.

This includes fit/behavioral, casing, and testing of your expertise.

Practing DD/PE cases / Demonstrating your experience

You should absolutely expect cases/questions to be much more deal focused. As such, you should practice M&A/DD/PE/VC cases

Furthermore, they would absolutely expect you to leverage your existing experience in your answers.

1) Search on M&A/Acquisitions/Valuation here (already done): https://www.preplounge.com/en/management-consulting-cases?language=en&topic[]=1&topic[]=19&sort=real-case-desc&page=1&perPage=20

2) Google and casebooks are your friend. For example (https://managementconsulted.com/case-interview/case-interview-examples-master-list/)...go to the various company sections to find M&A cases

Fit/Behavioral

Step 1 - Categorize the main stories

There are 5-10 "themes" you need to prepare for. i.e. Leadership, teamwork, challenge, etc. Figure out this list and make sure your stories cover this range (PM me and I can provide you with a template for this list)

Step 2 - Create FLEXIBLE stories that cover a range of categories

You need to create 4-6 stories that each cover a range of topics. They need to be powerful stories that can be adjusted and adapted based on the question asked.

One of my "core" or "killer" stories was usable for Initiative, Achievement, Leadership, Challenge, Change of direction, AND Persuasion.

Write down these stories along STAR or similar format...use bullet points

Interview questions notes

Step 3 - Organize these stories so you know which ones can be used for what and PRACTICE

Make sure you cover the whole gambit. Then, practice getting asked a question and thinking of which stories apply. I can assure you, no-one is coming up with full stories in a few seconds. Rather, they have practiced how to adapt an existing story to the question asked.

Interview stories notes

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Maikol
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Content Creator
replied on Dec 13, 2022
BCG Project Leader | Former Bain, AlixPartner, and PE | INSEAD MBA | GMAT 780

I supervised 11 financial due diligence when I was working with a fund of club deals and search funds.

Feel free to book a coaching session. 

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Anonymous B updated the answer on Dec 13, 2022

The best way to prepare for a technical FDD interview is to leverage available resources online. The following site is a great place to start. The interview guide includes an excel case study and a 30-page PDF with an M&A overview, FDD overview, FDD interview questions and answers, FDD interview process overview, EBITDA adjustment examples, etc.

(edited)

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John replied on Apr 01, 2021

I realize the topic is a little out of date, but my answer may help some readers. I had several interviews for Senior position in Due Diligence (Middle East). Due dil is kinda different from all this "strategy specifics" that case-dudes wrote earlier. Here are the specific topics that were encountered in each of the interviews:
[1] It all starts from your understanding of the equity bridge in a deal, as well as each of its components: Enterprice Value less Net Debt less deviations from Normal Net Working Capital less Minority Interest equals Equity Value. Make sure you understand these concepts well, as the every possible case here will be based on this, or on adjustments to these parameters !!
[2] The adjustments to a) EBITDA, b) Net Working Capital, c) Net Debt. You have to understand the specifics of Normalization adjustments (One-Off or Unusual), and Pro forma adjustments.
Pro forma adjustments are usually "what-if", based on the structural changes of the business, e.g. changes in the group structure, change in procurement terms, etc. While the Normalization adjustments relate usually to one-off restructuring costs, profit and loss from assets disposal, accounting transfers of income and costs between periods.
[3] Three fin reporting forms and their interaction (linking). IB-like questions - "walk me through the three statements after the D&A in year X changed by 100".
[4] Pricing mechanisms - google Locked Box versus Completion Accounts. You have to understand key stages and key differences.

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Clara
Expert
Content Creator
replied on Nov 12, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

It´s exactly the same as all the processes :) Perhaps you get more PE people in the rounds or some of the cases are related, but really minor in the overall prep.

You have 2 main workstreams ahead:

1. FIT INTERVIEW

The "Integrated FIT guide for MBB" has been recently published in PrepLounge´s shop (https://www.preplounge.com/en/shop/tests-2/integrated-fit-guide-for-mbb-34)

It provides an end-to-end preparation for all three MBB interviews, tackling each firms particularities and combining key concepts review and a hands-on methodology. Following the book, the candidate will prepare his/her stories by practicing with over 50 real questions and leveraging special frameworks and worksheets that guide step-by-step, developed by the author and her experience as a Master in Management professor and coach. Finally, as further guidance, the guide encompasses over 20 examples from real candidates.

You can see plenty of reviews from candidates who purchased it already.

Furthermore, you can find 2 free cases in the PrepL case regarding FIT preparation:

Intro and CV questions > https://www.preplounge.com/en/management-consulting-cases/fit-interview/intermediate/introduction-and-cv-questions-fit-interview-preparation-200

Motivational questions > https://www.preplounge.com/en/management-consulting-cases/fit-interview/intermediate/motivational-questions-fit-interview-preparation-201

Behavioural questions (ENTREPRENEURIAL DRIVE) >https://www.preplounge.com/en/management-consulting-cases/fit-interview/intermediate/behavioral-questions-entrepreneurial-drive-fit-interview-preparation-211

Feel free to PM me for disccount codes, since we still have some left from the launch! :)

2. BUSINESS CASE

You don´t have any more time to the classics of Viktor Cheng, "Case in point" book, etc. You need to get hands on asap:

1. Practice cases with partners asap, as many as you can do.Find experienced partners who can provide a good feedback

2. Practice your math skills, both in your cases and with ad hoc exercisess, such as:

1. ​Multiplying double digit numbers (https://www.youtube.com/watch?v=6ndkkPZYJHo

2. Leveraging math tools (Mimir math for iOS), Math tool on Viktor Cheng website to practice

3. Ensure you have a good overview of the ​most common case types:

1. Profitability cases- basic profitability framework.

2. Idea generation cases: for any specif issue

3. Growth cases: market penetration, new product launch, product mix change, etc.

4. Pricing cases

5. M&A cases

6. Valuation cases

7. Value chain cases

Given you are under this much time contraint, consider working with a coach to foster speed and ensure you have a tailored plan to be very targeted. PM me interested!

Hope it helps!

Cheers,

Clara

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Ian gave the best answer

Ian

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