I posted my application online and a few days later I received an email from the recruiter. There were 3 phone interviews in total. 1) Recruiter: general info about my background and why I was interested in the firm and the position 2) Treasury Director: more technical, questions on what specifically I did in my previous sell-side role and why I was interested in this more corporate, slower paced role, very cordial, unassuming, realistic 3) Assistant Treasurer: higher level questions, focused more on my future objectives, where he is coming from in terms of how he sees the department progressing etc.