Key Financial Services interview questions

The finance sector is competitive and interview preparation goes a long way to making the right first impression with a new employer. So, we asked Antonia Mihaylova, our Senior Consultant for financial services, to share her insights about financial services interview questions.

For any financial services job, competency-based questions will be high on the agenda for your interview. An effective method of testing your skills to gauge how suitable you are for the role; they give you a chance to show off your experience and knowledge.

Antonia has years of experience and has found that there are certain competency-based questions you’ll be asked for almost any financial services role. In this article, we’ll tell you what these questions are and how to highlight your skills in a way that helps you land your dream position.

Let’s start with some general advice for answering finance interview questions that are based on your competency.

How to Answer Competency-based Interview Questions

When answering competency-based interview questions, we recommend that you follow the 4-step STAR technique, which looks like this:

S – Situation

Describe a situation from your past that links to the question.

T – Task

Describe the task and what were you responsible for.

A – Action

List the action(s) you took to overcome the challenges you faced.

R – Results

Detail the results of your actions.

With this simple framework at hand, you can answer almost any competency-based question during a financial role recruitment process.

The Most Common Competency-based Questions for Financial Service Interviews

Interview questions are never random, so we’ve broken down the most popular financial sector questions relating to competency, and the skills they’re seeking to uncover.

Communication Skills-based Interview Questions

Q: How do you build relationships with your clients and how do you guide them through tough situations?

Q: How would you explain complex financial concepts to clients simply when they don’t understand industry jargon?

Communication and interpersonal skills are key in most roles, but when it comes to the finance sector, there is a lot of jargon that needs explaining to clients and people in different departments. If you have a track record of breaking down complex topics effectively, use your experiences to answer these questions.

Problem-solving Questions Commonly Asked in a Finance Service Interview

Q: Give me an example of a situation when you made a mistake. What actions did you take to rectify it as effectively as possible?

Q: Give me an example of a time you had to deal with a client who wasn’t happy with the service provided. What did you do to change their all-round experience?

As you might expect, problem-solving is crucial in the financial sector. It’s also expected that things sometimes go wrong, so lean into issues you’ve had in the past and how you turned negatives into positives in a previous role.

Financial Services Interview Questions About Attention to Detail

Q: Do you prefer to work for the “big picture” or the “small details”? Give an example that supports your preference.

Q: What techniques do you use when you want to find errors that are not easily noticeable?

Financial roles are all about handling data and money, so as a result, you’ll need to be able to drill down into the nitty gritty of information. Use previous experience to back this up and demonstrate your attention to detail using real-life examples.

Accountability-based Finance Interview Questions

Q: Tell me about a time when you received negative feedback from your boss. How did you react and what did you do to move forward?

As well as analytical ability and experience in similar roles, you’ll need to be able to react to negative feedback constructively. With this question, the interview is looking at your character, which is one of the core skills any employer looks at, and how you have rebounded from negative feedback.

Again, use the STAR technique to come up with real examples and put a positive spin on a negative situation from your past.

Results-driven Finance Industry Interview Questions

Q: What is your biggest achievement to date?

Q: How will you ensure you are successful in this position?

Finance jobs require finance skills, and any competency-based interview will include questions that relate to your confidence in your ability. So, come up with ideas using the SMART framework and use previous examples of your successes to answer these questions.

Ability to Meet Targets

Q: Give me an example of a situation where you missed a target. What was the reason and how did you subsequently deal with the situation?

Targets are massive in the finance industry, but sometimes they’re missed. Answering this question shows how you learned from this mistake, which shows how suitable you are for the financial job you’re applying for.

Commercial Awareness

Q: What do you do to keep up to date with the ever-changing FCA regulatory framework and requirements?

Having commercial awareness and industry knowledge means employers don’t have to train you in your new role. It also shows that you have a willingness to learn and develop, showing proactive qualities that financial employers love in their team.

Teamwork

Q: Give an example of a situation where you had to utilise your teamwork skills to achieve a great business outcome.

Teamwork makes the dream work and you should have examples in abundance of working with others towards a common goal. Use the STAR framework to answer this question and show that you’re a great individual, a team player, and an asset to any company.

More Advice for Your Finance Interview

With some of the core competency-based interview questions covered, let’s explore some general advice for financial service interview questions.

• Use specific examples rather than a hypothetical approach.
• Use “I” statements rather than “We” to highlight your input in problem resolution.
• Volunteer your thoughts and experiences rather than waiting to be led to the next stage.
• Highlight your thoughts and feelings at the time of the event rather than how you feel about past events now.

Strengths and weaknesses are also useful tools for finance interviews, so show how you have been able to use both in your career. You can also use weaknesses to highlight how you’ve handled tricky situations in the past and have been able to improve on them.

Finding Your Next Role

Are you ready to put your polished interview skills to the test? If you’re seeking a new start, check out our latest financial services jobs.

We also have additional resources to help you land your next financial services job:

• Download our comprehensive guide to prepare for your next job interview.
• Is your next interview via video? Find out how to prepare for a video interview.

About the Expert

Antonia has over 8 years of experience in financial services recruitment with Search. Based between our Manchester and Liverpool offices, she manages IFA practice & wealth management career opportunities across the whole of the North West & North Wales.

With an in-depth knowledge of the market, she offers candidates a consultative and professional approach as well as opportunities in the most prestigious and successful businesses.

If you’d like to speak to the team about jobs in financial services, then contact us here.

If you live elsewhere in the UK then don’t hesitate to get in touch with our colleagues in Brighton, Crawley, Dundee, Leeds and Glasgow for further support.