Help with Corporate Finance Work-ex

royboy

New member
Joined
Jun 18, 2026
Messages
0
Reaction score
0
Hi Guys,
I passed level III this year. Due to a pretty busy work schedule, I could not get around to applying for the work-ex approval. I have exactly 48 months of work ex, all of it in FP&A. I was wondering if I could get some feedback about the chances of it being accepted. According to the CFA guidelines, it says “SOMEWHAT LIKELY” and I am looking for some further guidance from the vast source of experiene within AF. (I apologize for the long read but was trying to be as detailed as possible)
Analyst (33 months)
As an analyst in the XXX team, my primary responsibility was to conduct detailed industry analysis and quantitative analysis of current business performance and new opportunities. I used statistical quantitative methods such as regression analysis to forecast P&L / Cash Flow parameters and incorporated capital budgeting analysis metrics such as IRR, NPV, Payback period analysis to support my recommendations to SVPs of the corporate development team. These analyses, conducted on a regular basis, were key inputs in capital allocation decisions in planning annual fiber network deployment / disposals and also in decisions on whether to deploy capital investments to build a certain solution or pursue acquisition opportunities.
Additionally, I was responsible for determining our Cost of TV programming content (Buying rights for movies, expenditure to carry a certain channel on our cable network) in order to meet budgeted EBITDA margins. This required a thorough analysis of the then current cost structure and creation of detailed pro-forma operational models that incorporated macro and micro range forecasts such as industry growth rates, channel profitability and customer churn trends. This model, presented to the VP of Programming Strategy, was the key determinant in the investment decision of whether to pursue vertical integration opportunities by acquiring some of these content providers versus renegotiating the terms of existing content carriage contracts
Senior Financial Analyst (15 months)
As a Senior Financial Analyst in the Financial Planning & Analysis team, I performed detailed financial analysis on all business cases submitted for funding. I modeled pro-forma cash flows and used various capital budgeting frameworks such as Economic Value Added, NPV, IRR and Payback period analysis to make recommendations on the most beneficial uses of capital, to the CFO and CEO of the company.
Additionally, I was also responsible for the month-end performance reviews that were presented to the CFO and CEO of the company. These packages included financial results of the most recently closed month as well as dynamic forecasts for the rest of the quarter. I directly prepared these financial models using industry growth rates, competitive analysis and historical financial fundamentals. These models, which presented segmented Revenue, EBITDA, Key Performance Indicators, and foreign currency translation impacts, were direct inputs to the investment decision making process and were also used to analyze the financial position of the company by looking at financial ratios, determine any potential capital structure and/or funding needs and deciding whether to pursue M&A opportunities to grow top line revenue.
Finally, I was responsible for directly building financial models to track KPIs such as Average revenue per User (ARPU), Average Margin per User (AMPU) which enabled the company to determine the lifetime value of its consumers. The inputs to this analysis required allocating fixed cost overheads and identifying variable costs in order to arrive at an operating margin per account. Using multi-period growth estimation techniques such as Gordon Growth model and a variation of the Binomial Option Pricing model, I arrived at a lifetime value per consumer. This lifetime value model, recalculated on a regular basis, was used by the Sales Management team and the CFO and CEO of the company in various forms within the investment decision making process such as (i) Focusing SG&A budget on certain segments of the customer base (ii) disposal (sale) of segments that offered limited growth opportunities and (iii) determine service level agreements for consumers based on their lifetime dollar value to the company.
I would appreciate any guidance and apologize again for the long read.
 
Wow, thanks a ton for the super quick reply.
 
Does the write up need to be that long for each position?
 
I agree that it is more detailed than what may be required. But I erred on the side of caution as I do not have any direct valuation oriented work-ex. Better safe than sorry, I suppose. What do you reckon though, should be accepted?
 
royboy wrote:
I agree that it is more detailed than what may be required. But I erred on the side of caution as I do not have any direct valuation oriented work-ex. Better safe than sorry, I suppose. What do you reckon though, should be accepted?
I do not see why it won’t be accepted.
By the way, I was only trying to say that you gave them more than I did not that it was too much. So I believe (fingers crossed) you should not have any problems.
 
Write like your AM paper - bullets to the point and hitting the right words.
 
Haha, no worries, Thank you!
My reason for concern is that the 33 month analyst experience was at a different company and represents the bulk of my work-ex.My former supervisor is kind of AWOL. In case the former work-ex gets rejected, it will set me back significantly.
My current 15 month work-ex should be fine as I am getting a reference from my supervisor and the other one from a charterholder (member of local society) who I interned with.
 
Back
Top