It's 1 AM and you find an error in a model your VP already sent to the client. What do you do?

Tell the VP tonight with the fix ready and let them decide what the client hears. Confirm and size the error first, send a short note of what changed, match the urgency to the stakes, and own the mistake.

The numbers, step by step

An invented example: $4,200 million of implied equity value, 100 million basic shares and 105 million diluted shares.

Price on basic shares$4,200 million ÷ 100 million

$42

Price on diluted shares$4,200 million ÷ 105 million

$40

Change in the implied price$40 ÷ $42 − 1

−4.8%

What the interviewer listens for

• Do you tell the VP promptly instead of hiding it or contacting the client?
• Do you confirm and size the error before escalating?
• Do you bring a corrected version and a clear note?
• Do you match the urgency to the stakes?
• Do you own the mistake and add a check?

Common mistakes

• Fixing the file quietly and hoping nobody notices, while the client still has the wrong numbers.
• Emailing the client directly.What the client hears is the VP's decision.
• Waiting until morning when the error changes the conclusion and the client meets early.
• Calling in a panic before confirming the error or knowing how big it is.

Likely follow-ups

• What if the VP says it's too small to mention to the client?That's their call. I'd make sure the corrected model is the live version, so every later draft uses the right number.
• What if you can't reach the VP?I'd try the associate, then keep trying the VP by phone before the meeting. I still wouldn't contact the client myself.
• How would you stop a share count error from happening again?I'd tie the share count to the latest filing, use diluted shares with the treasury stock method, and keep a sources tab so every input points to where it came from.

More behavioral and fit

• Describe a time the numbers and the stories you were hearing did not match. What did you do?
• Tell me about a time you achieved something difficult against real obstacles.
• Tell me about a time you had to make a decision without all the information you wanted.
• Tell me about a time you had more work than you could finish on time.
• Tell me about a time you went above and beyond.

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