What not to do during Job Interviews?
Job Interviews can be stressful, and the thought of facing an interview can even make even the most confident person nervous. However, with little practice and preparation, you can ace job interviews and land a job in your dream company. It’s important to be aware of the things you should do during an interview, and also be aware of the things you must avoid doing during a job interview.
Listed below are few things that you should never say/do during job interviews.
Say that you know something, when you don’t really
Stating that you know something, even when you don’t really know it – this is perhaps one of the most common blunders that people make during job interviews. It’s good to be honest during interviews. If you don’t know the answer, just say that you don’t know it, but are ready to research and find out the correct answer. You must sell yourself well on the resume by stating your skills, strengths and achievements, but don’t ever oversell or lie about your skills and achievements. Your interviewer would spot the lie sooner or later.
Talk, Talk and Talk
Ok, so you are an extrovert and a talkative person by nature. These are positive traits that you can use to your advantage during an interview. However, it’s important to maintain a balance between talking and listening if you want to be considered a good communicator. If you constantly interrupt the interviewer and start answering even before he/she finishes the question, you would come across as being a bad listener and an annoying person. So, stop rambling and start listening.
Not arrive on time
Arriving late for the interview indicates that you are unprofessional, and careless towards work. Things like traffic jams, car problems, and other emergencies are likely to cause an unexpected delay. Leave 30 minutes early, to make sure you arrive on time. Have the contact number of the HR manager or the person you are interviewing with, and let them know if you are late under some unavoidable circumstance.
Being too casual
It’s better to dress formally for the interview. Apart from maintaining a professional appearance, you must also avoid behaving too casually. Chewing gum during the interview, cracking jokes, gossiping and using inappropriate language- all these casual behaviors can ruin your interview and your employer would feel that you would be a misfit in the company.
Criticize your former employer
Saying negative things about your former boss is a big no-no. It says that you are going to do the same when you the leave the company for which you are interviewing right now. Keep your conversations positive and if you have not had a good relationship with your former employer, try not to dwell on it too much.
Ask about the pay, promotions, benefits and bonuses
You must give in order to get. Your first interview is about what you can do for the company and how your skills and strengths can contribute the company’s advancement. It’s not about what you can get from your employer. Avoid asking questions about the pay, promotions, bonuses and benefits of the job, until the interviewer opens up the subject and asks you about your expectations.
Not ask any questions
Asking questions is as important and giving answers to the questions being asked by the interviewer. If you don’t ask any questions, it says that you are not interested in the job. Ask about your job profile, about how you would be contributing to the growth of the company, the work environment etc. Do some research on the company and have at least 3-5 questions that you can ask the interviewer.
When asked about your weaknesses, don’t say you don’t have any
Employers often ask you to mention your weaknesses during the interview to test your honesty and modesty. If you say that you don’t have any, the interviewer may feel that you are trying to hide something. One way to handle this tough question is to focus on your positive weaknesses. For instance, if you take work a bit too seriously sometimes and miss out on having fun with the coworkers, you could mention this as a weakness and state that you are working on being more interactive and friendly with your coworkers.
Posted in Interview Tips | Tagged Interview | Comments Off
Hiring the right candidate for Job – Things to keep in mind
Hiring the right candidate for job is essential for all organizations. A wrong employee can lead to loss of time and resources. A right job candidate, on the other hand, can contribute to the growth of the company and have a positive impact on the work environment. It’s therefore necessary that companies take the process of hiring seriously, and do not compromise on the qualities that they are looking for in the job candidates.
Here are few points you must keep in mind to ensure that you hire the right employee for a job position in your company:
Define the job before you start hiring
Before you hire an employee for the job, you must know what you should be looking for in the candidate. Collect information on the job responsibilities, necessary knowledge, skills, experience, and the personality traits needed in the candidate you are hiring for a particular position. Performing this kind of job analysis helps you to eliminate the unsuitable candidates and zero in on the right ones.
Look for the candidates in the right place
You can look for potential candidates on major job portals or use social media sites like LinkedIn and Facebook to target the right candidates for the job. Social networking sites are turning out to be great tools for recruitment. They help companies hire candidates from the trusted network of their current employees.
It’s always better to have a wide pool of shortlisted candidates, and maintain long-term relationship with the ones you feel are good. Even if you don’t hire all the candidates you have shortlisted, you can reach out to them if one of the chosen candidates rejects the job offer and when there are more openings for the same position in the future.
Review Credentials and Academic Documents
Reviewing resumes, academic documents, and job applications letters can be quite time- consuming. You can save the time taken to filter out the best candidates, by having a clear description of the job roles and responsibilities. Screen all applicants against your list of the most desired characteristics of the candidate you are hiring and choose the applicants that match most of your requirements.
Conduct a Prescreening Interview
Another way you can save the interview and selection time is by conducting multiple rounds of interviews. A prescreening interview, before the main round of interview, will tell you beforehand if the candidate is a right fit for your company. Prescreening interviews help you gauge the general interest of candidates towards the job and determine whether their salary expectations correspond to the salary being offered by the company.
Conduct Background Checks
Effective background checks are necessary while hiring an employee. Verify all the presented documents, credentials, and speak to the candidate’s former supervisors and colleagues to check if they actually possess the skills and experience they claim to possess.
Be Prepared for the Interview
Interview is the most important part of the recruitment process. Like the candidates the interviewer also needs to be well prepared to get the most out of the interview. Have a list of questions that you think would give you the answers you are looking for. Encourage the candidates to ask questions to gauge their knowledge and experience in the field. Evaluate them based on their verbal and non-verbal communication skills. Here are few questions that you must ask yourself while you are interviewing candidates for the job.
Do they have the necessary skills?
Once you have a clear description of the job profile and the required skills, you can prepare interview questions that would help you evaluate the candidates based on those skills. The interview panel should comprise of experienced employers and at least one person from the department that the candidate is likely to join. This would help you better judge the candidate’s professional proficiency and job-specific skills.
Do they like learning?
The candidates you are hiring may satisfy most of the job requirements, but might not possess all the required skills. Companies train employees and further groom them for the job. More than the skills, the job candidates need to possess the desire to learn and grow in their job. Does the person you are interviewing display curiosity and love for learning?
Are they good team players?
Today’s competitive business environment demands individuals who are able to independently handle tasks, but can work comfortably in groups and collaborate with others successfully. Apart from the job-specific skills, inter-personal skills are something you must look for in the candidates you hire. Ask yourself – Does the candidate display good interpersonal skills and have a prior experience of managing and working in a team?
Posted in Interview Tips | Tagged Hiring candidates, Recruitment | Comments Off
Things to consider before choosing an MBA college
The success of an MBA degree depends on various factors. Getting into a reputable MBA College and getting good grades in the exams does not guarantee success in your future career. A lot depends on the planning you do before taking up the MBA course, the institute you choose for studying and the way you utilize all the resources(training, mentoring, exposure, contacts) being offered to you during your course.
It’s important to identify and opt for the right college to pursue MBA. Here are few things you must consider before choosing an MBA college.
What do you want to do with the MBA?
Do you want to work as the CEO of a leading technology firm? Do you want to run your own business? Where do you want to be after your MBA degree? The first thing to do when you are applying for business schools is to think about your career path, based on your interests, strengths and abilities. For, instance if you want to start your own business, then look for the colleges that have an inclination towards entrepreneurship and help you nurture the entrepreneur in you.
Does the MBA College have a Good Ranking?
Business schools may be ranked generally based on their placement record, the quality of students, faculty members etc. This ranking can give you a basic idea of the top business schools. A school’s reputation can serve you well in terms of gaining more exposure, developing a strong list of contacts in the form of mentors and classmates. However, opting for an MBA college, based entirely on its ranking is not a good idea. You must also see how well the college meets you career goals and interests.
A college might have a good reputation locally, but it might not be known well in other countries. If you prefer to work in a particular country, then dig deeper to find out which schools are considered the best by the employers in the country where you wish to work.
What’s the Duration of the Course?
While most of the European MBAs take one year, MBA colleges in America generally take two academic years. Colleges also allow students to opt for full-time or part-time MBA. It’s better to check the duration of the course in advance, and choose the one that is more convenient and suitable for you.
How much do you need to spend on the course?
Business school tuition fees can be quite expensive and you should consider that factor before applying. Decide how much you are prepared to pay for your education and look for schools that fit into that criterion. Also, keep in mind other expenses such as cost of living and commuting that would add up to the course fee. Several scholarship and financial aid opportunities are available these days that can make even the most expensive MBA courses affordable. Do some research to find out about the scholarships that can you can apply for.
Does it have a good Placement record?
What kind of companies do you want to get into after your MBA? Choosing a school with a good placement record is important. It’s also important to find out whether the companies you are interested in working for, come for placements, to the college that you have chosen. Most business schools will supply placement statistics to the interested applicants. Speaking to the former graduates of the school will also give you some valuable insight.
Have you done research on the University faculty members?
Once you narrowed down your list of schools to join, based on the above mentioned factors, you can try to learn more about the faculty members at your prospective schools. If they have had any prior working experience in the field you are planning to break into, and have good contacts with the other people in the industry, then these are the types of individuals that can assist you in achieving your career goals.
Posted in B-Schools | Tagged B -School, MBA | Comments OffFinancial Career Track #6: Technology
Technology is the centre of our focus in this week’s edition of InterviewBay’s blog article series on Financial Career Tracks. Without the banking division of Technology, banks wouldn’t be able to execute the most difficult as well as the simplest transactions. Technology is ultimately the skeleton of a bank and provides essential competitive advantage for the bank. This article will provide you with answers to the following questions:
What is Technology?
What roles can you find in Technology?
What skills are you expected to have?
What will a Graduate role look like and how will you progress?
What is Technology?
Most Technology functions in a bank that you would be required to execute is not the simple day-to-day IT support, which is usually provided by outsourcing facilities from different parts of the globe. As a Technology specialist at a bank, you would work on developing complex IT solutions particular to the business.
Within Technology you would be expected to:
Ease communication between the bank and its clients.
Enable the execution of transactions.
Streamline trading processes.
Provide 24/7 support.
Create proposals and provide project management support for new IT systems.
Technology may have its own distinct, centralised division within the bank or may be fused with different departments across the business. This is wholly dependent on how the bank structures its divisions.
What roles can you find in Technology?
There are many specialisations within Technology and depending on your area of interest and expertise, you will be assigned to one of the following roles:
Business Analyst
As a Business Analyst, you would be in charge of finding out what requirements would need to be set into motion by the bank in order to implement new IT systems.
Functional Analyst
As a Functional Analyst, it would be your role to identify and troubleshoot problems.
Application Developer
As an Application Developer, you would be working in close cooperation with various banking divisions in order to create new IT applications.
Production Manager
As a Production Manager, your role would be to ensure that all IT systems are functioning efficiently. You would also be responsible for implementing new applications across the bank.
Service Manager
As a Service Manager, you would take on the important role of taking good care of the relationship between the bank and its IT service providers.
Project Manager
As a Project Manager, it would be your responsibility to manage all types of IT projects running across different banking departments.
Technical Specialist
As a Technical Specialist, you would be developing numerous technical specifications required for the efficient functioning of the bank.
What skills are you expected to have?
The skills required for performing a Technology function successfully are numerous. As a prospective applicant, you should carefully consider whether you tick the boxes for most of the points below:
A minimum of a Bachelor’s degree (technology-focussed degree is advantageous, but not necessary. If you demonstrate significant technology knowledge and passion, you should apply for this position as well).
Have a strong fascination for the world of technology. It is imperative that you keep up to date with the latest technology developments in the business world. (You may want to have a look at the Banking Technology online information forum).
Clearly understand the concept of technology being a business enabler in our modern world. As a Technology specialist, you will be required to deliver practical IT solutions in order to streamline the bank’s processes.
Be very comfortable working with IT systems.
Be a team player (don’t expect Technology work to be independent. Most of the functions require creative team-work).
Flourish in problem-solving activities.
Be a good communicator.
Be willing to travel (Banks operate globally; therefore, you may be required to travel quite frequently).
It is also important to mention that if you are a university student and are thinking of a career in Technology, it would be of great help if you applied to Technology internship programmes at various banks. Much of the recruitment done for graduate roles in Technology is through internship programmes. If you have already graduate and haven’t done technology-related internships in the past, do not despair! Graduate recruitment is not limited to internship completion.
What will a Graduate role look like and how will you progress over time?
As a Graduate, you will receive a good portion of general education in order to feel comfortable working in the field. You need to be prepared to work long hours in a highly pressurised environment. Being creative and innovative every day as a Technology employee requires great stamina and energy. As you advance and take on more responsibility and accountability, you will be designated a particular area of expertise or you may continue to forge your way as a generalist.
If you are thinking of pursuing a financial role in Technology and you want to prepare sufficiently for the interview, get some interview preparation help from our experienced team at InterviewBay.
Come back next week for an insight into Private Equity!
Posted in Finance | Tagged career, finance, technology | Comments Off
How to manage and retain the best talent in your company?
Gone are the days when people would stick to a particular company for 10-15 years, without opening up to the opportunities that might come their way, promising a more fulfilling job, a better work culture and a more attractive pay package. These days, employees are constantly thinking: Is there any other company that I would rather work for? Am I getting all that I deserve here? They have high expectations from their employers, and are no longer fearful about quitting a company that does not meet their needs, to join the one that does. In the current scenario, companies must work harder to employ and retain their best talent, lest they lose their star performers to their competitors.
“Since the economic recession, one in every four high-performing employees is actively seeking a new job. Top firms are working aggressively to lure top external talent away from their current employers, while working carefully to fortify the relationship with their own employees. To attract and retain the best talent, these companies are tightly managing their employee value proposition (EVP) or employment brand. This process involves understanding the needs of key employee segments, understanding current brand strengths and weaknesses, investing to redesign the value proposition, and improving communications to current and prospective employees. Firms are also using this process to build a stronger, more unified corporate culture,” says CLC Genesee, the workforce survey and HR consulting division of The Corporate Executive Board.
High-performing companies are driven to great heights by high-performing individuals. Investing time and resources to retain the best employees is worth the effort. So, here are few things that you can do to better manage your company’s top talent.
Have ‘Employees first’ attitude
Make your company a place that people want to join and stay. The best way to hire and keep top talent is to create a culture where people are treated with respect and their needs are met, before the needs of the company. If your employees don’t feel valued, or feel under-valued for their efforts, they are less likely to perform their best, and stick to your company for long.
Build a Culture that encourages Open Communication
Cultivate a culture of open communication. Always keep your employees in the loop. Whether your company is going through a tough phase, is about to get acquired or is planning to incorporate some major changes in the work environment- let people know what’s going on. As an employer, you might be tempted to keep information guarded. However, most employees appreciate open communication and a more transparent culture that is based on high level of trust.
Invest in Training
High-performing employees crave for new challenges and opportunities to learn. The idea of offering offsite or in-house training from time to time, might turn out to be an expensive affair, but the investment is worth it. It not only impacts the performance of your employees in a positive way, but also provides them with a mentally-stimulating environment where they continue to improve and grow. Training courses, seminars, conferences, opportunities for further education – your company and your employees get to benefit from these initiatives in a big way.
Capitalize on their Strengths
It’s important that employers are well aware of the key strengths of their employees and help them in utilizing their talents and skills to their advantage. If an employee you hire proves to be a good fit for your company, but not for the position you hired them for, why not try moving them to another position that keeps them interested and capitalizes on their strengths.
Recognize their achievements, and reward them for their efforts
A study conducted by psychologist Adam Grant of the University of Michigan suggests that when workers have personal contact with the beneficiaries of their work, they perform better. For instance, employees that directly interact with the customers are significantly happier than those who don’t, because those who directly interact with customers can clearly see the impact their work is having on the customers and experience joy when they see their customers happy.
We all crave for recognition and are driven to perform better when we are appreciated for our contributions. An employee’s morale is positively influenced after knowing that his or her work is meaningful. So, let your employees know that they have a significant role to play in shaping the future of the company. Congratulate them for their achievements and reward them with personal recognition note, bonuses, and a well deserved break from work.
Provide Feedback
Good employers not just gather data on their high-potential employees; they give them ongoing feedback about their performance. You can point out the areas where they can improve, but don’t forget to provide them with positive feedback on the things they are handling well. Encourage your employees to set target goals and provide all the support they need to achieve them.
Posted in Consulting | Tagged Company, HR, Talent | Comments OffTips for Cracking MBA Interviews
You have cleared the MBA entrance test and have got a call to appear for the interview. Now, you are just one step away from acquiring a seat in the MBA college that you dreamed to join. Cracking the interview round of the MBA entrance examination is not easy. But, it’s possible to increase your chances of getting past this last hurdle, if you prepare yourself well and face the interview with a positive state of mind. Here are few tips that you can use to crack MBA interviews:
Be clear about your future goals
Why do you want to pursue an MBA? What are your future goals? You must have clear answers to these questions because, unless you have a strong reason to pursue MBA and a clear idea of what you want to achieve after completing the MBA degree, your interviewer would think that you would lack the passion and motivation, needed to succeed in the field.
Answer questions honestly
You might have made some mistakes in the past. It’s better to accept your mistakes and answer your questions honestly rather than portraying a different picture to hide your flaws and come across as perfect person. Your interviewer can easily catch you when you are being pretentious and giving fake answers. If you do not know the answer to the questions being asked, say that you don’t know the answer, instead of making something up.
Go through Frequently asked questions
Though there is no guarantee that you will be asked the questions that have been asked by interviewers previously, it is always better to have a vague idea of the kind of questions that are being asked during MBA interviews. Make sure you read through the ‘Frequently asked interview questions’ given in the preparation materials and books, before you appear for the interview.
Be Confident
You might know all the answers but if you are not confident enough while answering questions, then you fail the impress the interviewer. Of course you would be little nervous while appearing for the interview but you can try to camouflage your nervousness by – maintaining good eye contact, giving a firm handshake, and having a confident smile on your face.
Do Mock Interviews to boost your confidence
Take help of your friends and family members and practice mock interviews to boost your confidence in facing interviews. You may even ask your friend who is enacting as an interviewer to give you feedback on your performance, by observing your body language, the way you communicate your ideas and rate you on your level of confidence. Work on your friend’s feedback and suggestions and put them into practice when you appear for the real interview.
Brush up your General Knowledge
Be inquisitive. Read newspapers, magazines and books to brush up your general knowledge. Knowing just for the sake of the interview will not help. You must have keen interest in knowing what’s happening around you in this world. This is something that your must start working on months and years ahead of the time of the interview.
Thanking Interviewer
It’s good to start the interview in a positive way, and it’s equally important to end it in a positive manner. Make it a point to thank the interviewer for his/her valuable time in conducting your interview, and considering your application for admission in the institute. This simple act says that you are confident and are good with people – a trait that’s plays a major role in the life of all leaders and managers.
These are some of the things that you must keep in mind while appearing for the interview round of an MBA selection process. Cracking interviews is all about experience. The more interviews you face, the better you get. Your first interview experience might not be great, but that shouldn’t discourage you from going for the next one. Take it as a learning experience and keep working on your weaker areas, and you will emerge victorious in your next in the next interview and make it to the institute of your choice.
Image credit: http://parttime-fulltime-mba-degreecourses.blogspot.com
Posted in Interview Tips | Tagged Interview Tips, MBA | Comments OffFinancial Career Track #5: Risk Management
This week we’ll be putting Risk Management under our spotlight. Risk Management is the crucial force that keeps all of the functions in a bank under control. It is important to note that Risk Management is also referred to as Market Risk Control. Read on to find the answers to these key questions:
What do Risk Managers do?
What roles can you fill within Risk Management?
What skills are required for a position in Risk Management?
How much do Risk Managers earn?
What would you be doing as a Graduate in Risk Management?
What do Risk Managers do?
A Risk Manager evaluates the effects of internal and external factors on the bank’s business and also implements measures in order to control or reduce the risk associated with these effects.
In simple terms, you would measure the risk and the cost of something going wrong. The Risk Management Team works closely with all divisions of the bank in order to be in a position to measure all possible consequences of the bank’s work.
What roles can you fill within Risk Management?
There are 3 primary roles within the division of Risk Management: Credit Risk Management, Market Risk Management, and Operations Risk Management. We’ll discuss each in turn.
Credit Risk Management is concerned with assessing the risk of loss if a client is unable to repay a loan. Credit Risk Managers will rank a bank’s customers according to the risk they pose. If a client has a poor credit rating, the bank faces a higher risk. In this case, the team of Credit Risk Managers would persuade the bank to impose a higher interest rate on the loan taken out by the client. In order to be in a position to decide on the approval or disapproval of the credit, a Credit Risk Manager will specialise in the analysis of balance sheets and financial statements. The Credit Risk Manager ensures that transactions undertaken by the bank are compatible with the bank’s internal credit policies as well as local regulations.
Market Risk Management’s role is assessing the effects of external events on market factors. The list is not exhaustive and may include environmental disasters and political upheavals. The four standard market factors that are influenced by external events are stock prices, interest rates, foreign exchange rates, and commodity prices. Market Risk Managers measure the risk posed by these external events on the transactions that occur on a daily basis at banks.
Operations Risk Management assesses the risk a bank’s internal factors have on its reputation. Operation Risk Managers will look out for signs of internal or external fraud, the damage of physical assets, and business disruption to name a few. It is necessary for the bank to function efficiently and according to set standards in order to maintain its clients’ loyalty.
What skills are required for a position in Risk Management?
In order to be considered for a role in Risk Management, it is vital to have the following skills/qualifications prior to applying:
A Bachelor’s degree (preferably in mathematics or sciences, however, this is not a prerequisite), and sometimes an MBA degree.
A Risk Manager will be required to build and interpret predictive models; therefore, a background in management sciences would be advantageous.
Certifications within law, accounting, compliance, etc. are positively received by future employers in Risk Management.
High numerical abilities.
Strong analytical capabilities.
Self-motivation – you’ll be required to work long hours, especially during times of economic uncertainty.
A passion for learning about financial markets.
Excellent communication and decision-making skills.
How much do Risk Managers earn?
Below you can find a rough guide to how high you can expect Risk Management salaries to be at different levels by Barclay Simpson.
Credit Analyst – Corporate Banking – $56,000-96,000
Market Risk Analyst – $56,000-88,000
Risk Analyst – Investment Management – $56,000-72,000
Credit Manager – 5-10 years – $96,000-128,300
Market Risk Manager – 5-10 years – $104,200-144,300
Operational Risk Manager – 5-10 years – Investment Banking – $104,200-120,200
Credit Director – Corporate Bank – £128,200-144,300
Head of Market Risk Control – $120,200-176,400
Global Head of Operational Risk – Investment Bank – c.$200,500
What would you be doing as a Graduate in Risk Management?
Depending on which bank you’ll work for, you may initially embark on a generalist or a specialist course. With a generalist approach, you will gain a broad array of experience and in due course you’ll be able to choose your particular specialisation whether it is Credit Risk, Market Risk, or Operations Risk. As a specialist you would be thrown into one of the divisions right away. As a graduate, you will receive intense training from the outset. However, learning and development is a continuous process within Risk Management so expect to be stretched intellectually throughout your career.
If you are thinking of pursuing a financial role in Risk Management and you want to prepare sufficiently for the interview, get some interview preparation help from our experienced team at InterviewBay.
Come back next week for an insight into Technology!
Posted in Finance | Tagged career, finance, Interview, risk management | Comments Off
The most common mistakes in your resume
A resume should be a concise statement on one’s employment history and skills attained. Too often, candidates try to pack a level of detail into their resumes that’s best left for the interview.
Each resume should be tailored to the company that the resume-writer is trying to seek employment at, and not generic. This tells the potential employer that the job-seeker has done some homework about that company. Remember, flattery will get you everywhere.
Not clearly and quickly demonstrating HOW THEY CAN HELP THE POTENTIAL EMPLOYER.
Here are the most common mistakes people make in their resumes, just remember; even the tiniest of mistake can speak volumes about you so let’s give a smooth start to your career with a smooth resume:
1. Typos: Poor spelling, horrible grammar and punctuation disasters. At least 50% of the resumes I see have more than 5 typos in them, which only tells a reader that the applicant is probably sloppy at their job, too.
2. Out of date format: I see too many resumes that look like it was 1985 the last time the person actually checked to see what resumes should look like.
3. Templates: If HR offices didn’t mind looking at resumes written using MS Word resume templates, there’d be no need for resume companies. The problem is, HR offices hate templates. It’s another sign of either laziness or not doing your homework (really, the same thing).
4. Resumes written in the first person. The word ‘I’ should never be used in a resume.
5. Resumes so filled with adjectives, adverbs, and buzz words that they sound like the applicant hired a marketing firm to do the resume. Unfortunately, most of the time this just makes the resume very hard to understand.
6. Having an “objectives” paragraph at the top: Often is limiting and will specifically count them out regardless of skills. “I’m seeking an opportunity to employ my management skills…” Ooops job is for supervisor – not manager – next!
7. Use of phrases: Generic phrases like “great multi-tasker” “attention to detail” “organized” “out of the box thinker” – blah blah blah. Using those phrases ensures this person is anything but original.
8. Honesty: You might feel that you just have impressed an interviewer by a lie and you successfully have fooled him but congratulations!! You just made fool out of yourself. So always try to be what you are and not someone else.
9. Today’s resumes must include two more things-: “a clear professional summary”.
10. “Quantified statements of past results.”
Your resume is perhaps the most important marketing tool you will use in your job search. A resume helps potential employers see how you can help them.
Employers are not looking for “employees.” They are looking for someone who can solve their problems. So prepare according to that..!
Posted in Consulting, Interview Tips | Tagged HR, Mistakes, Resume | 5,440 CommentsFinancial Career Track #4: Operations
Have you ever wondered who enables banks to function effectively and efficiently? This week we’ll introduce you to the financial division often labelled as ‘the engine of the bank’ – Operations. The article will answer the following questions:
What does working in Operations entail?
What roles can you find in Operations?
What skills are required for a role in Operations?
What salary can you expect to have as an Operations employee?
What would you be doing as a Graduate in Operations?
What does working in Operations entail?
Operations employees form the backbone of every bank. They are part of the ‘back office’, which administers a supporting role for the ‘front office’. The trades made by the front office divisions of the bank are controlled and managed by Operations. Banks are coming to recognise more and more that part of their competitive advantage lies in their operational excellence. Clients will be willing to work with a bank that is backed up with a solid and trustworthy framework.
What roles can you find in Operations?
The basic work that an Operations employee has to fulfil is clearing and settling trades. When clearing trades, an employee is required to ensure that the bank records of the sale of a financial product is the same as the records held by the bank or organisation that the product was sold to. When settling trades, an employee is in charge of processing and controlling transactions.
However, within Operations there are numerous roles; therefore, it is necessary to delineate the main areas in order to have a good idea of what you could be doing as an Operations employee.
Trade Processing & Support – you would be in charge of making sure each bank transaction is fully completed, that funds are subsequently cleared, and that the ownership of each transaction is confirmed. You would also be required to answer any questions a trader may have.
Operations Control – it would be your responsibility to ensure communication between all banking divisions is effective and efficient. As an Operations Control employee, you would also be required to observe the functioning of IT systems in order to measure and report any operational risks.
Client Services – within client services, you would be expected to speak directly with clients in regards to issues such as resolving transaction settlements, providing advice as well as keeping them up to date about what’s happening with their trades.
Advance Operations Jobs – as you climb the hierarchical ladder within Operations, you’ll find that the positions you will take on are more strategic in nature. For example, you might be involved in discussing the acquisition of new technologies in order to improve the current performance of the bank.
What skills are required for a role in Operations?
Before applying to a role in Operations, make sure that you tick most of the following boxes:
Analytical aptitude
Numerical aptitude – however, it’s not necessary to have a maths or finance degree
Strong communication and interpersonal skills
Effective problem-solving skills
Sensitivity to risk
An ability to think outside-the-box – approach problems from different angles
Flexibility
Time-management skills
Leadership – be capable of motivating others
Attention to detail
An ability to learn quickly
Good knowledge of IT – recent decades have experienced an automation of many Operations functions; therefore, it is highly important to be able to work with IT systems.
What salary can you expect to have as an Operations employee?
Below is a sample from Glassdoor.com of the salaries you may expect to find as an Operations employee at a wealthy and highly-reputed bank.
Goldman Sachs – Operations Analyst Intern – $49,500
Goldman Sachs – Operations Analyst – $52,147
Bank of America – Operations Analyst – $50,449
Bank of America – Senior Operations Analyst – $50,835
JPMorgan Chase – Vice President Operations – $106,889
Bank of America – Vice President Operations – $110,000
Goldman Sachs – Vice President Operations – $139,150
What would you be doing as a Graduate in Operations?
Most often, graduate programmes are designed to expose newly-acquired employees to different areas in order to help them find their preferential area of expertise. You may find yourself working for a few months in Customer Service and then you might switch to a role in Risk Management. However, there are a few common tasks that each graduate will be required to work on. Every Operations Analyst is involved in guaranteeing accurate and timely processing of trades, improving communication between the Operations division and other bank divisions, and helping find solutions to everyday problems. In addition, from day one, every employee will develop an in-depth understanding of the finance and investment banking world.
If you are thinking of pursuing a financial role in Operations and you want to prepare sufficiently for the interview, get some interview preparation help from our experienced team at InterviewBay.
Come back next week for an insight into Risk Management!
Posted in Finance | Tagged career, finance, Interview, operations | 5,650 Comments
Starting a new career in sales? Here are few tips for you
The sales situation is changing rapidly. It has, for a long time, been a question of having “the gift of the gab” (personality, good listening skills, positive responses etc.) to get into the profession – having probably failed at something else first (accountancy for example – way too boring) – and then most often demonstrating a good track record to move up the ranks.
But we are now moving to a situation where all the many different personality attributes are being analysed along with, perhaps more importantly, the different skill sets that a true professional is going to require. In fact, an initial understanding that the sales profession is the biggest and that there are many different roles within it, must help. From telesales, cold canvassing and customer service on the phone, to field sales and account handling, to team, area, regional and national management and up to board-level directorship responsibilities, with “hunters” (BD your other respondents refer to) and “farmers” (like handling established accounts) adding to the mix. It means the question might equally be “How would you be in the army?”
Sell what, to whom, at what price, with what complexity and lead time? Vegetables off a market stall, or military aircraft?
So the changes I referred to are now starting to be reflected in NVQ’s and other professional standards, as well as a first MA in Sales Management and are the beginnings of trying to equip each individual sales person with demonstrable skill sets, that complement their, no doubt vital, personality/attitude attributes, and that employers can learn to trust.
It should, in time, move us on from the rather trite habits of employers asking candidates to “sell” them something in an interview, with the aim of assessing their skills on the spot. They wouldn’t employ the accounts department on that basis, and they only add up the wealth and profits that the sales people create.
When someone is starting his career in sales he needs to be creative in doing some planning for the interview as the interviewer is looking at people who have the flair for Sales or BD roles and apart from good communication, listening capabilities, ability to empathize with others, if you can demonstrate that you are proactive it will differentiate you from the rest.
This can be done by preparation .Candidate must make an effort to do a good background study of the company its products and services, these can be done by any means, Using the company’s website or Google or study any relevant business magazines.
The candidate must study sufficient relevant data which will help him get an overall picture of the company, Its offerings, key markets served, competitive positioning and any news articles about their approach towards their customers.
During the interview use this knowledge appropriately and at right times to demonstrate your interest in the company and ask questions which are relevant to the occasion and the discussion thread, this will demonstrate that you can think on your feet, can manage a conversation, listen well and above all show truly that you are sincere and serious in your approach.
Posted in Consulting, Interview Tips | Tagged Hiring, Jobs, sales | 6,359 Comments ← Older posts Newer posts →
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