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Top 30 Banking Interview Question And Answers

The banking industry is very competitive and complex hence it is important for a candidate to know what they are getting themself into. This means that they should have a detailed knowledge of the bank and it’s values along with the customers who visit the banks. Here are about 30 questions you can expect in a banking interview.
Tell me about yourself.
Tell them about your experience in the banking sector and what skills you have.
“I have worked for about 4 years in the banking department and I am very passionate about handling finances. Working in fast paced environment helps me sharpen my skills while helping a client”.
What do you know about our bank?
This question is to evaluate your knowledge and research about the bank.
“I am aware that your bank has sustainable banking practices and is well known for excellent client services through their digital banking system”.
State the difference between retail banking and corporate banking.
This question asses your knowledge about different bankings.
“Retail banking is used for individual client services such as savings and personal loans whereas corporate banking deals with business, offering them loans and cash management”.
Explain the key financial statements and their importance.
Explain the keys and their importance concisely.
“The three financial statements are balance sheets, income statement and cash flow statement. These keys provide an insight to the company’s liquidity,financial health and profitability”.
How do you manage stress and pressure?
Tell them your strategies to deal with stress and pressure.
“I avoid piling up my work by prioritising my tasks and using time management. Moreover, i make sure to take necessary breaks to minimise pressure”.
What are your strengths ?
Highlight your strengths and skills.
“My strength is attention to detail and how I manage finances. I am also proficient in use of banking technology.”
What are your weaknesses?
Emphasise how you are working on your weakness.
“My weakness is that I intend to take on many tasks at a time which makes me overwhelmed however, I am getting better at it by using time management tools”.
What is customer service in banking?
Address how customer service in banks work and how it benefits the bank.
“To ensure long time running business for a bank it is important to to provide a customer with exceptional service that fosters loyalty, trust and reliability”.
Explain the role of a central bank in an economy.
This question evaluates your knowledge of the macro factors of an economy.
“A central bank controls inflation, regulates monetary policies and acts as a last resort for loans”.
How do you meet tight deadlines?
This question will asses your organizing skills and time management.
“I meet tight deadlines by prioritising my tasks and using certain schedules to ensure accuracy and time efficiency”.
What do you know about risk management?
Explain the concept and use of risk management.
“Risk management is the identifying of credits risks, market risks and liquidity risks of the bank’s assets”.
What is the term liquidity used for in banking?
Define liquidity and it’s use in banking.
“Liquidity refers to the ease from which an asset can be turned to cash without suffering significant losses”.
Are you aware of banks regulations?
They want to know whether you realise the importance of the regulations of a bank.
“The regulations and rules of the bank are to ensure that each banking operation takes place with security, confidentiality and being risk free”.
What is the function of a cash flow statement?
Explain them the importance of a cash flow statement within banking
“Cash flow statements are important to keep track of inflow and outflow of the company so that efficiency and liquidity of the company is measured”.
How do you prioritise tasks in multiple projects?
Tell them how you schedule your tasks and how you manage them while multi tasking.
“I prioritise them according to their deadlines and urgency. I break my tasks into smaller manageable ones to increase efficiency and ensure completion”.
What is a mortgage backed security?
This question is to evaluate your knowledge of banking terms and how they work.
“Mortgage backed securities refer to the assets that are backed with a collection of mortgages, where periodic payments are made to investors”.
How do you provide excellent customer service?
This question wants to understand your motivation behind customer service.
“I provide excellent customer service by listening to the customer’s needs and tending to them within the bank’s regulations”.
How do you ensure safety and confidentiality of a customer?
The importance of customer safety and being confidential is of vital importance and hence incorporate it in your answer.
“I ensure confidentiality and safety by making sure the details of a customer are accessed by personalised authority only.”
How do you explain complex banking concepts to a customer?
Explain to them concisely how you would manage to explain complex concepts to a customer.
“I would make sure to communicate clearly and explain them in easy language so that they understand the concept and it’s importance”.
Explain the importance of compliance in banking?
Define compliance and its usage in banking concisely.
“Compliance is the process through which it is ensured that the bank adheres to rules and regulations to avoid any legal penalties”.
How do you keep up with financial trends?
Tell them how you ensure staying updated through various sources.
“I keep myself updated through following research blogs and watching the news regularly to keep myself aware of the financial changes locally and internationally.”
How do you work in a team environment?
Tell them how crucial teamwork is and how you thrive in teams.
“I thrive in team settings through maintaining cordial relations and effective communication with all my team members”.
How do you define investment banking?
This question is to test basic industry knowledge.
“Investment banking refer to the advising of different companies on mergers and acquisitions to raise stocks”.
How do you resolve conflicts at work?
This question is asked to assess your conflict resolving skills.
“I tend ti listen to different perspectives of parties involved an try to find common ground with them”.
How do you stay motivated at work?
Tell them what motivates you at work.
“I stay motivated at work by solving complex problems and accomplishing tasks at hand”.
What strategies do you use to attract new customers to our bank?
Highlight how you would attract customers through different strategies.
“I would use digital advertisements on social media, customer referrals and focus on products of our bank that interests customers.”
What are the biggest challenges nowadays in the banking sector?
Tell them concisely what your opinion on the challenges is.
“I think the biggest issues the banking industries are facing is of security and latest technological advancements to keep the financial sector up to date”.
How do you handle an unhappy customer?
This reflects on your problem solving ability and customer service.
“I would keep a calm and empathetic approach and try to understand their frustrations. Additionally, I would try to devise a solution suited for their concern”.
Why should we hire you?
Give them an outline of your work ethics and skills that reflect why you are the best match.
“I bring an exceptional work ethic including time management, efficiency and organizing. Moreover, I am well experienced in the banking sector and it’s trends”.
Do you have any questions for us?
Ask about how their bank contribute to professional growth and what are their expectations from you.
“Yes! I would like to know how working with you sparks my professional growth and what do you expect from me in this role?”
The banking sector is a complex and crucial part of the society and to interview there it is important to know the basics of your economy and how the rules work. We hope this article provided you with what you want to ace your banking interview.
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