Banking Interview Questions & Answers

Following the online numerical test there was no phone interview. Selected candidates are invited straight to business interviews for the Corporate Banking Europe programme. The first round of interviews consisted of two 45-minute interviews (two interviewers per interview) held either side of a written marketing exercise (to check that you have some of the required skills for pitchbooks). These interviews were designed to assess your motivation for applying to the specific scheme with the bank. The recruitment team (business specialists, rather than the HR team) went through my CV and asked both competency based and technical questions. I speak a foreign language and therefore was partly interviewed in the foreign language by a member of the recruitment team. I was asked back for the final interview which was a week later with a Managing Director. This interview was slightly more relaxed as the MD was trying to understand my background to finance as well as my motivation and asked purely technical (and not competency) questions.

The most difficult questions were the finance/technical questions. They needed a good understanding of the global markets, yet, remember that the scheme is specifically concerned with European corporate and investment banking.

Another relatively tough question was what are your three biggest strengths and weaknesses. Of course this can be pre-rehearsed, but it is not easy to describe three weaknesses. The candidate must try to frame the weaknesses in a positive light, explaining how you have learnt from them.

As is the case for other, jobs candidates must really know and understand the role they are applying for. Although this is framed as 'Corporate Banking Europe' it is very much on the investment bank side (other firms often separate corporate and investment schemes). It is also important to understand the differences and benefits of an international bank operating in the City as opposed to a British domiciled bank.

Interview format at each stage of the application: The first round of interviews consisted of two 45-minute interviews (two interviewers per interview) held either side of a written marketing exercise (to check that you have some of the required skills for pitchbooks). The final interview was one-to-one interview a week later with a Managing Director.

The application process comprises of completing the online application, then numeracy, verbal and strength based assessments. Following this, you will be invited to complete a video interview at your convenience. The questions will mainly concentrate on your strengths and weaknesses, but also question your knowledge of Lloyds. Look at their most recent analysis, which is available on their website, and at a market analysis of the banking industry by the Big 4 Consultancies for example.

What is your biggest weakness?

Name five things you think will change in the banking industry in the next five years and explain how lloyds can innovatively respond to each one.

Make sure to prepare your pitch really well. It will make you more relaxed during the day and you might not have time to practice it before you begin.

Ensure you are up-to-date on banking developments, particularly with regards to technology.

If you are successful, the next stage will be the assessment centre or, as they call it, the Innovation Lab. Instructions beforehand are excellent. You will be required to prepare for a presentation. If it is over 5 minutes they will cut you off. They are looking for you to devise a new business idea for the Commercial Banking department.

The day is short; either a morning or afternoon session and every minute is accounted for. There were only 8 people at my assessment day and we were divided into two groups of four in order to complete the tasks in different orders.

The day started with a 50 minute interview. This interview went through your motivation for lloyds, what developments were occurring in the banking sector and finally what your personal strengths and weaknesses are. Make sure you have good examples, as they want detail.

The written project was short, half an hour to complete two tasks. The first is about Lloyds key strengths and weaknesses and current developments. The second is about Fresh Thinking; devising a new idea for them. Perhaps when you are preparing for your presentation, think about this area as well.

The group task will depend on your team. The tasks are simple, but competition can make it a very unpleasant and heated experience. Ensure that you get to know your group well, as you need to know who you can and cannot work with before the group task.

Finally, the Pitch is 1:1. You will have five minutes to prepare in front of them (you should already be ready but can use flipboards) and then you start. Questions afterwards will differ depending on the sustainability, practicality and expense of your new idea.

Firstly, I was asked to talk about myself, talk them through my CV. Then we moved on to the next stage asking me a duple of competency based questions focusing on team work, attention to detail, motivation, strengths and weaknesses, and finally, my overall interest within the banking and financial services sector. I was asked to perform a role play over the phone between me and the recruiter (playing the role of a fictive client), assessing a PPI claim and gathering correct information then send it back in a form of summary. The first format was a conversation and role play over the telephone and then assessment centre where I had to assess and analyse, provide findings and reasons, and initiate final decision on a PPI claim.

The main difficult question was related to the suitability and eligibility of the clients in order to correctly assess the PPI claims. I got stuck as suitability.

Make sure you read all the case studies and you fully understand the eligibility and suitability criteria for PPI claims. The initial pack comes with about 12 case studies. Each different PPI claims which have already been assessed. Ensure you read each and one of them and can answer all questions concerning the eligibility and suitability criterion. Without knowing this you would not be able to perform the final task int he assessment centre.

At the assessment centre we had a case study, a fictive PPI complain on behalf of the client. Our role was to analyse and present the findings of the case and on what grounds the client initiated the complaint. IN form of a letter we had to write all findings and respond to the customers each pint. Analyse the suitability and eligibility of the client and determine whether he was indeed mis-old the PPI or not. Decide whether to upheld or reject the case and explain in an official letter (template provided) as to how we came to that decision. Also perform the required calculations in rode to decide the amount needed to be refunded for the client.

After initially filling out an online application, consisting of basic biographical information and educational history, I was invited to attend an assessment centre.

The assessment centre comprised:

Psychometric tests (numerical and clerical)
Interview 1 (CV-based)
Interview 2 (competency-based)
Group exercise and presentation

This job may involve repetitive administrative tasks - would you become bored by that?

Try to think of good examples for a variety of competencies before your interview. Although a specific list like some employers provide is not available, the typical competencies such as leadership, teamwork, taking initiative, overcoming difficulties and working under pressure provide a good starting point around which to structure your answers.

Follow the news and be knowledgable about current affairs, particularly in the banking sector, for your interview.

There were around a dozen candidates attending the assessment centre. The first exercise involved a numerical test and a clerical test. The numerical test was straightforward and much easier than similar tests I have completed for other companies (GCSE maths standard at most). The clerical test required you to read information from a source and tick boxes on another sheet about which types of information had been mentioned in the source. This was not difficult but required you to work quickly.

The tests were followed by two individual interviews, each with two interviewers. The first was concerned with your CV and your educational and professional experiences. There were also questions about your motivations for the job and why you wanted to work for Citi. The second interview was more competency-based, looking for experiences where you could demonstrate skills such as leadership, teamwork, working under pressure etc. The interviews also offered a good opportunity to ask questions about the role and working for Citi in general - I found that the interviewers were happy to talk about their experiences, which was very helpful.

The final task was a group exercise with about 5 of the other candidates. Each person was given a copy of the case study and had to come up with ideas during individual reading time. We were then given around half an hour to discuss the case as a group before presenting our ideas to a panel of 5 assessors.

The Bank of Ireland Graduate Roles start with an online application followed by the standard series of online tests. If you have successfully passed these you will be progressed towards a video interview. The timeline between application and video interview was about 3 weeks (October/November). The video interview was pretty basic and easy to be honest.. (Pro tip; if you are concerned about video interviews then apply to random other programmes so you are invited to their video interviews and that way when it comes to the video interviews you care about you have some practice under your belt.. furthermore for the Bank of Ireland programme I actually applied to more than one of the streams and was invited to all of the video interviews which all had the same questions.. therefore I was able to do my least preferred programmes video interview first and then know exactly what to prepare for the two preferred ones.. giving a huge advantage. If you're not too late I would advise doing this- apply to a programme they have that you don't particularly care about just so you get a preview of the questions). Having said that, it might not be worth the effort in this case since the questions were very easy... I can't remember exactly but they were along the lines of "why BOI", "why you" and "why this stream"... something pretty basic. The main thing most organisations look for at this level is if you are a nice, normal, socially-competent person; so be likeable; smile and be a person, not a robot (this goes for all video interviews).
If you are successful at this stage you will be invited to the assessment centre in London (only London if you apply for the BOI(uk) streams obviously).

Nothing in the video interview was tricky. To be honest if you're shocked by anything on it you really need to reconsider a career in anything office related.

The assessment centre in London started at 8:30 until 12:30 (!! they tell you it's 3 hours but that's highly unrealistic!! - take heed if you are booking flights on the basis of it lasting 3 hours). I know there was a second group taking place at 12:30 ; each with 8 candidates. I am not sure if there are other days of assessment for the Corporate Banking programme but I don't think so. Therefore there are 16 people competing for 3 places.

We were taken immediately into the group assessment - 43 minutes for the assessment + about 20 minutes for icebreakers and introductions etc.
This consisted of a brief from the head of the UK team (who is a complete gentleman!) and there was a candidate to panel ratio of 2:1 (2 candidates being watched by each panel member). The task (as laid out by a previously review here) was to present on company updates;
The company in question was going through updates and each member of the group was assigned a particular department to make recommendations about. We were given information booklets which must be read in 8 minutes, outlining the possible roads for each department to take in their investment. You needed solid reasoning to fight for a portion of the budget to invest in your cause and collaborate as a group to present your findings at the end. No technical knowledge required at all apart from the use of very basic calculator skills to make sure the budget isn't exhausted with all the recommendations. My group were a dream to work with and everyone got along extremely well. Such a nice change from other assessment centres where people are very friendly in the waiting room and become absolute beasts throwing you under the bus in the assessment. Don't be that person. Nobody will like you enough to give you a job if you act that way. Remember group assessments are generally to test your skills in teamwork not to test your individual skills against the rest of your team.

Secondly (with only a few minutes break for me - but some people ended up waiting around for up to 2 hours to be called ) we were taken to the competency based interviews.
These interviews last 45 minutes and are with 2 interviewers - (thank you to the other assessment centre reviewer on this platform for their review for this programme - it was very useful but it is inaccurate in saying that the interview lasts only 10 minutes and is 1-on-1... it is a lengthy interview against 2 people).
The first question was "Walk me through your CV" and followed by one competency based question for each of the 7 tested competencies which they will tell you about in your invitation email. These competency based questions come in the order of the way the core competencies are always listed to you; so very predictable. By the time you have finished all these competency questions your allocated interview time will be up so make sure you capitalise on the opportunity to make your CV come to life in the first question of "walk me through..." - you won't get another chance to talk about whatever you want. I felt very rushed as we ran over time and people kept popping their heads in to get us out o the room but they wont end your interview until you've finished the 7 competency questions so relax.

Lastly was the individual "fact-finding" case study which lasts strictly 25 minutes.
Again this was 1:2 (1 interviewee against 2 interviewers). You are briefly briefed before having 5 minutes to review a set of documents relating to a tech company signing an exclusive trade agreement with a multinational. Followed by this you have 5 minutes to ask the CEO of the other company whatever questions you might have when making your decision to form this contractual agreement or not (taking into consideration benefits, risks and opportunities of the agreement. Finally you will have 10 minutes to prepare a presentation and 5 minutes to present your recommendations to your own company's CEO as to whether or not you recommend forming the agreement.


I felt pretty confident leaving the interview but knowing now that there are only 3 spots and that 16 of us interviewed; it's hard to be hopeful. Everyone else there was quite impressive, came from very competitive universities and had intimidating work experience (HSBC, JP Morgan etc.)

The telephone interview was quite straight forward and was what should be expected. The interview lasted about 25minutes and I was questioned mainly about myself and how I would react in certain situations. Then we spoke briefly about why I wanted the role. The interviewer was very professional. The online assessment beforehand was quite easy but should not be taken lightly

Why do you want to join TSB over its competitors?
Describe a time you had to make a big decision? How did you deal with it?

Come prepared and remember the role is for a telephony sales person so practice before you arrive dealing with unexpected callers. Although the information that is given over the phone is pretty straight forward, how to process that information is the tricky part.

After a breif introduction we sat and had an informal interview for the interviewer to get to know me and ask a few questions. this lasted about half an hour.

We were asked to look through a booklet given to us by a member of the TSB team and memories the phone call process. After taking mental notes for 15 minutes we where then put on one of the company phones to answer a call from a customer who wanted to buy a house. Using the protocal given we had to address the call in the correct manner. I panicked at this stage because the information was slightly overwelming. A worthy assesment!

My interview was done via an external 3rd party called Sonru, an organisation that proved to be very communicative and friendly. I was sent a link to Sonru's interview window, whereby I would sign in with my unique details (provided in an email) and go through a series of practice questions before moving onto 3 questions for the video interview. I was informed to the topics that these 3 questions would cover in the email that initially invited me to the video interview, but I did not know the specific word of the questions, only the topics. This allowed me a few days to prepare a plan and structure in order to answer these questions in as informative and concise a manner as possible. This was vital, as once the question had been shown, you had 60 seconds preparation time and 90 seconds to speak.

"Name a time whereby you went the extra mile to provide an exceptional service or piece of work, whether that be for a client or for yourself" (ideally showcase an example relating to another individual e.g. extra hours put in at work to help an individual that was struggling with a certain task)

. Research the ethos of the bank before applying, its values, its place in the British economy, what sets it apart from other banks

. Be prepared, be calm, be confident

. Be yourself - honesty, conviction and personality stand out

. Stay positive - you are unique and can bring things to the table that no-one else can, don't forget that

. Ask for feedback whenever possible

. Practice assessments (verbal, numerical) and speaking in a concise manner

. Maintain a positive outlook regardless of outcome - finding a job as a graduate is very difficult and can be disheartening at times, but you CAN do it.

Beginning at 1pm in London, the assessment centre consisted of 3 tasks; a group exercise, an individual exercise and an interview. During my assessment centre experience, I was with 7 other candidates, but this can vary depending upon the organisation you are applying to. You are treated as guests, and if you have made it to this stage, should be very proud of your achievement. This was reflected by the Bank of Ireland, who were very open and approachable throughout the day, in stark contrast to their very poor communication skills prior.

The first task, the group exercise, consisted of individuals being given a case study and individual parts of the business in this case study to be held responsible for. The organisation in the case study was going through a modernisation process, updating its systems for the 21st century in the wake of complaints about its archaic systems. For the year, there was a budget of £6 million, with tasks/updates that each section of the business had which could be implemented in order to improve the business. For example, I was put in charge of customer services, with updates available like a 24-hour helpline and skills programmes for existing employees in order to update their knowledge and bring the customer service the company held so dear, into the modern age. Each section of the business would have 3 choices, all of which had either and/or initial and on-going costs to implement, with every choice totalling roughly £25-£26 million. As a result, you had to work with your team to build a package of upgrades to ensure the business updated and retained customers without losing its identity, whilst simultaneously arguing why your choices were important and needed to be implemented. Strong team-work and communication skills were vital, as well as the ability to build a case for why your choices were the most important. Of extra note is conveying that it is important for the business to not lose its unique identity and merely become a clone of its competitors; something the Bank of Ireland claims not to do and would give you an edge if you can highlight. If I could give one piece of advice relating to this task, it would be to remain calm. If like me this is your first assessment centre, it is quite easy to be initially intimidated sitting in the board room of a bank alongside some of the countries most talented graduates but remember that you are there for a reason; don't worry, stay calm, listen closely and if you need an extra couple of minutes to finalise your argument or need anything else explaining/repeating, just ask; you're a team.

The second task consisted of another case study, this time one performed individually. You were given a case study, but crucially had to ask the interviewer (who was playing the role of the CEO of the organisation in the case study looking to accept an offer to join a massive multinational organisation) for additional information, whereby the interview would either provide you with the information or say "I'm sorry, we don't have that information". This task relied upon your ability to build an argument, link ideas together and ask the right questions. Of note, if I could do the assessment centre again, I would ask "Ok, so what information can you give me about xxx, what have you got on them so far?". Whilst it is possible they may say that you need to be more specific, starting off with one general query to at least try and get as much info as possible is probably not a bad idea, rather than diving head first into very specific questions.

The final stage was an interview, lasting about 10 minutes, discussing examples from your academic and personal history that you showcased the skills the Bank of Ireland is looking for. For example, I was asked "Name a time when you went the extra mile to ensure success, whether that be for yourself or for a client/individual". My advice here is to again remain calm, but also be honest; sincerity is key. The interviewers are looking at you as a person, not an application on a page. This is a chance to showcase your passion, so use it, prepare some examples beforehand, be honest with the experiences you have and don't have and most importantly, enjoy it.


As a final note, I would specifically ask that regardless of the outcome of your time at the assessment centre that you are provided with feedback. This was promised to all of the people who attended the assessment day with me, and all of us that were unsuccessful have received none (it is now 2 months after the assessment centre). Not only that but we were not told how many people they would be taking on or when we would hear from them. This was a recurring theme with the Bank of Ireland, as I found their communication very poor (a sentiment reflected by all of the candidates that attended the assessment centre whilst I was there). At the first stage, I was supposed to be sent 2 tests to complete immediately after sending in my application, which were not there. After emailing BOI to inform them that I had not received the tests, they sent them through 2 weeks later and asked me to complete them by 18:00 on Friday, when I had received this email at 17:27 on Friday. After my video interview, I was supposed to be informed of the result 2 weeks before the date of the assessment centre; I was informed 4 days prior. The communication was terrible, especially after the assessment centre. To have made it into the final 32 candidates to then be informed of being unsuccessful by email rather than the promised phone call and to be told in the copy-paste email "we hope you are not too disheartened" was incredibly unfair. Ensure that communication channels with the Bank of Ireland are open, frequent and that they are prepared to give you feedback. The opportunity is amazing but the communication is less than stellar. As previously stated, it has been 2 months, and after 3 emails and 3 responses of "sorry you haven't heard back yet, I have escalated this query to the graduate team who will be in contact with feedback from you performance at the assessment centre shortly", I have heard nothing.

The interview was conducted over the telephone, during which I was asked about the company itself, and the information covered in my CV, including professional experience, both previous as well as my current employers. I was also asked about core competencies required for the position, such as PC literacy, ability to work with large data sets and foreign language skills.

The most difficult questions that I was asked were about the ability to work with large data sets as I do not know what types of data sets are involved.

I would advise to research the company, be prepared to match the requirements from the advertisement to the candidate's skills. Furthermore, I would advise to ask specifically for an example of an exercise in the perception test, which was given during the assessment day.

I was given two tests, which included a perception test and a verbal test. The tests were timed. I was asked to read a lengthy text about money laundering and answer specific questions and to write a letter to a colleague asking for information.
The second test was a perception test, which was 8 minutes long. During the test, which had 100 questions, I had to match a series of signs on the left hand side with one of the four answers on the right hand side, which were very similar.

My initial application was via the internet, where I filled in an extensive application form, then was invited to undertake internet based assessments. These involved numerical tests, situational judgement tests, and psychometric tests. I was then invited for a face to face interview at the location of the job. The face to face interview lasted around an hour, I was asked questions about my previous experience, including typical interview questions ("when have you provided excellent customer service?"), etc. It was quite a relaxed interview, and afterwards I was shown around the premises.

Questions about my previous work experience which I have not been met with, such as situational aspects like dealing with difficult customers, which I rarely experience.

Revise typical interview questions, it is certainly worth Googling common interview questions and answers, as the questions are very general to your previous experience. The hardest part was the online assessments, particularly the numerical tests, which were not difficult, but the time limit makes them very difficult to answer. I'd also recommend reading around the role and the company.

Face to face interview.