| | CAREER OUTLOOK
Are you prepared to relocate around the country/state if there is a business demand for this? Some branch based roles come with a contract that says that the bank can move you to another branch if they need to fill a vacancy there.
What ways do you currently use to manage your finances?
This is a question aimed at seeing whether you understand that the banking model these days includes much more than just branch transactions. There’s Internet banking, telephone banking, mobile phone banking, cash machines, quick deposit boxes, etc.
What do you think are the biggest threats facing banks/insurance companies today?
This is an opportunity to talk about the economic outlook and/or the emergence of new competitors. For example, supermarkets have started selling bank products and mobile operators are well positioned to disintermediate banks.
There are also a whole range of more generic interview questions that you may be likely to face. You’ll probably be familiar with these ones from previous job interviews in non-finance positions. However, it’s still useful to have a reminder of them:
Common interview questions:
Based on my own experience, I’d say that the following are quite likely to make an appearance during your interview:
Why do you want this job? Don’t just say ‘because the money’s good’ or ‘because I’ve always wanted to work for a bank’.
Instead, look at this as an opportunity to explain how you’re looking forward to the challenge presented by the role and use the question as an opportunity to show them that you’ve done some research on the company and/or department. It will also be useful to talk about what attracts you to working in the finance sector. They may be particularly interested to understand what’s attracted you at a time when banks seem to be generating almost entirely negative news stories i.e. sub-prime lending, the credit crunch, Rights Issues, etc.
What would you say are your weaknesses? 26 WOMENOFCOLOR | SPRING 2011
You probably don’t want to be brutally honest in answering this question. ‘I’m dreadful at time management’ or ‘I have difficulties with figures’ are not advisable, especially for a finance role! Try to find something that isn’t going to be an absolute disaster for the role you’re applying for and also try to provide evidence of what you’ve proactively done to improve your weakness.
Why did you leave your last job? It’s important that you focus on the positive reasons for wanting to take on this new job. You don’t want to say that you had prob- lems in a previous job. Try to find positives about the previous job but explain that the fresh opportunities offered by this job are just too tempting.
Where do you see yourself in x years time? I think we’ve all been asked this one! The time period may vary but the purpose of the question is to check to see how ambi- tious you are. Good companies will generally want ambitious people and will cater for career progression but at the same time if they’re going to train you up then they want to feel reas- sured that you’re not going to suddenly jump ship to another company or go on a round the world trek! Banks tend to be big multi-national companies, so one advantage of working for them is that there can be great opportunities for internal advancement for individuals who want to make their way up the corporate ladder.
Why are you the best person for this job? This should be an easy question to answer. After all, who’s best to know why you’re perfect for this job than you? However, many of us feel uncomfortable selling ourselves in this direct way. To make it easier, use solid examples from previous jobs to back up your points and think about what skills and qualifica- tions give you an advantage and are relevant for the job.
Do you have any questions?
This is another question that can flummox interviewees. An absence of questions may make them think that you’re not really passionate about the job. Make sure you’ve done your research on teh company and role and pinpoint some questions that have arisen from your research. This question is a great opportunity to show that you understand the challenges facing the company. For example, you might want to ask a question related to the challenges currently facing the banking industry with the credit crunch, etc?
The key with any job interview is to get the right balance be- tween preparation and then delivery on the day. Good luck!
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