Behaviorals Flashcards
(96 cards)
1
Q
What do you think you’ll be doing as a summer associate? Full time associate?
A
- in the beginning I anticipate taking on similar responsibilities as Analyst, working with them and making sure I am not only supporting them, but working alongside them to … ?
(Developing and maintaining complex financial models)
(Performing various financial analyses, i.e valuations and merger consequences)
(Conducting, in-depth company and industry research
Participation in due diligence sessions, and preparation of presentation and other materials for clients)
(Management of several projects at once and work effectively as an individual and as part of a team)
(Communication and interaction with deal team members)
2
Q
What does an Investment Banker do?
A
3
Q
Why BofA?
A
- Also work on incredible transactions
4
Q
Why IB and how has your previous experience set you up for success in this industry?
A
Life long learner
Experience:
Research - attention to detail
Healthcare - different principles, similar application
Analyst - valuation, examining a market and a client to sell to, negotiation, being diplomatic
5
Q
Where do you see opportunity in finance/banking/markets?
note: have a view about a thesis or industry; macro economy; geo-politics;valuations;marketplace;financing
A
Technology integrated in other industries (healthcare, etc.)
6
Q
Tell me a time you failed.
* Confirm whether biggest failure EVER or a failure/mistake
A
7
Q
Tell me a time you turned around a team?
A
8
Q
Describe a situation in which you worked with a difficult teammate?
A
9
Q
Tell me a time you performed under pressure / struggled with a tight deadline
A
10
Q
Have you experienced an ethical dilemma, and how did you handle it?
A
11
Q
Describe a time you have disagreed with a senior
A
12
Q
Tell me a time you incorporated diversity into a team or challenge
A
13
Q
Tell me a time you solved a complex problem using data
A
14
Q
Describe a time you made a quick decision with imperfect information
A
15
Q
How would your friends describe you in three words?
A
16
Q
Why should we accept you over all the other interviewers?
A
17
Q
Why are you a strong fit for Investment Banking?
A
Life-long learner
resilient
18
Q
What do you think your relationship with the Analyst will be like?
A
19
Q
What are the qualities of a good associate?
A
Time management & people management Resourceful Communication Organized Analytical Ability to read the room Empathetic with both colleagues & clients
20
Q
What is the most challenging part of being an associate? Tell me about a time you’ve dealt with this?
A
21
Q
What will be your biggest challenge? Besides learning curve
A
Coming in knowing analyst
Its going to be my priority I work with them
I believe this will be do-able based upon the effort I put in to get up to speed with in my last role
22
Q
Tell me about yourself
A
23
Q
What type of projects did you work on in your last role?
A
24
Q
Whats the best quality about you?
A
25
Three biggest strengths?
1. Self- Aware (EQ)
2. Resilient (thick skin)
3. Passionate (figuring out problems)
26
Tell me a time when someone on your team did not perform. How did you handle it?
27
Tell me about a time you struggled
28
Tell me more about your previous job
29
What would your previous boss say about you
Intellectually curious, willing to jump in or change a process if I see it should be
30
Why Undergrad university? Why Stern?
31
What was your client exposure in your last role?
32
What are the sections of a pitchbook?
| Ask if buy-side or sell-side
Sell-side:
(Credentials - Overview of Firm)
(Market update and overview. i.e Banks views on the markets and how they can advantage from it)
(Strategy, i.e. potential Buyers for the M&A deal, timing, and other transactional details)
(Valuations, i.e Ranges of sales figures, multiples, DCF, numbers from football field)
(Appendix, any charts, graphs, stock visualization, football field)
33
Whats going on in the markets?
34
Where do you see yourself in 5 years?
35
Why should we hire you over other associates?
1. EQ1. Emotional Intelligence; many traits stem, but;
a. Self-Awareness – Use my own emotions and spin it in a positive way, and empathize with others and overcome difficult conflicts and challenges in a proactive way
i. Example:
2. Resilient / Thick Skin
a. Both through personal challenges, and professional challenges has created thick skin. Especially for things I am passionate about
i. Example:
ii. Example: Pursuing M&A during this process, Pursuing Tech & Consulting, being confronted about Salaries in London compared to NY
3. Passion for learning, figuring out problems,
a. Caveat: this can be counterproductive/
i. Example: Choosing to prioritize perfect work over a deadline
36
Why Bulge Bracket over Independent Advisory?
Premier access to syndication, which will help secure deals with ease
Full suite of services and strong relationships with clients
Consistently pushing for sustainability, empowering women, and making things possible for the underrepresented (and BofA specifically)
37
Why IB/M&A?
Life-long learner : enjoy many different
| Multi-disciplinary
38
Transferable skills? How do you think your experience will set you up for this career?
39
What is your biggest failure?
40
Tell me a time.. Long hours
41
Tell me a time.. Difficult co-worker / client / boss
42
Top 3 Weaknesses
1. I do not have a Finance background
2. Depending on its important, at times it can take me a bit longer to make an important decision
- On the job, I believe this can be fixed with experience
3. Must improve my modeling
- One of my classes this upcoming this semester
43
Tell me a time.. you failed / made a mistake
44
Tell me a time .. You succeeded
45
Tell me a time .. Lead a team
46
What will be the biggest challenge for you as an Associate?
Having to choose between perfect work and a deadline. I would prioritize the deadline, as I know things often need to get out the door fast. I think that will be my biggest adjustment, but I am confident as time goes on and I gain more experience, I can accomplish both 100% of the time.
47
How do you manage stress?
1. I think I prefer to work under pressure. It gives me the opportunity to work strategically and not linearly. It can save time and challenge your brain, depending on the situation.
2. I also like to stay organized and communicate as needed. It keeps me accountable on all ends.
3. Excersize, so many how busy I am. This is clinically proven to increase your mood and dopamine.
For example: Even this past semester recruiting, focusing on classes, trying to stay healthy workout, also while meeting with Banks almost everyday of the semester. It got stressful at times.
R: I was really able to take a step back and look at the broader picture. Only carry out tasks that were relevant to my professional growth, or partake in discussions and events that will allow me to make a better decision about the firm I hope to join. I stayed well organized, wrote everything down, and it allowed me to alleviate most of my stress from the craziness of last semester.
48
What is the last book you read?
Meditations – Marcus Aurelius:
1. It’s a book on Stoicism. It is a philosophy of life that maximizes positive emotions, reduces negative emotions and helps individuals to hone their virtues of character
The Power of Vulnerability – Brene Brown
2. Why Vulnurability is important
3. The negative affects of perfectionism
4. Saying sorry, and being okay with being wrong and having shame
49
Tell me something that’s not on your resume.
I have been running an all female Fantasy Football for three years
I have skill in using R for databases, SQL,
I started Mentoring at a young age (Link Crew – helping mentor freshman,
50
Unresponsive / difficult co-worker / feedback / interpersonal conflict /communication
P: I was assigned to work with a colleague on a large automation project. I was also working on multiple other deliverables. The member of the team had been there for much longer than I had, however they began providing incomplete reports, and rescheduling meetings, it began cutting into my time to complete other tasks.
A: I respected him and his tenure, so I spoke with him directly in a private setting and first off, showed gratitude for his help on the assignment. In a kind but direct way, I explained how the uncomplete work was affecting my ability to not just complete this task, but other deliverables as well.
R: He explained he was not aware it was affecting my other priorities, and so we developed a new way to communicate about projects, and I even showed him how to simplify some of tasks. Not only did this affect his ability to be effective in the tasks, but we built a stronger work relationship by fixing a problem in a diplomatic way.
(THESIS POINT> EQ > solving interpersonal issues via communication & empathy)
51
Went above and beyond to get a job done
P: My last role required heavy use of both Excel. I obviously know how to use Excel but knew I could get more done in less time if I spent additional time outside of the workplace to become even quicker. Being an excel expert was not a requirement, but I wanted to become even more advanced become productive in my work, and more efficient in future roles.
A: I registered for intermediate and advanced excel courses that
R: Management was appreciative of the additional efforts I put in to ensuring I exceeded in my role without being told to. After showing them how beneficial it was to my day-to-day tasks, I even sat with some of my colleagues gave a mini workshop outside work hours. Management ended up reimbursing me for acknowledging my own ability to be proactive in the role without being directed.
(THESIS POINT > EQ > Self-awareness)
52
Successfully led a team / Succeeded
P: I can recall a time when management was traveling for a work trip around the holidays, and I was working on a market research assignment with a few others. I noticed the team began slacking due to the absence. We had a lot of work to complete, however. it was important for me to demonstrate ownership mentality and make sure we had sufficient work to present when management came back into town.
A: Instead of complaining that nobody was working as hard, I wanted to find a way to motivate them instead. I created a ‘sprint-goal’ action plan for the project. Summarizing a quick sentence for each small goal, why it was beneficial, and how it played into the bigger picture of the project.
R: This ended up allowing everyone to focus and remember why we were doing it, even if it wasn’t content that would be presented to clients, it was still valuable information that allowed us to work step by step for quicker completion. I didn’t take credit for the initiative because we all ended up completing the project together. But it was one of the first times in my new job I felt I had a positive influence on my team. And that was special to me. We ended up recycling this specific template and using it on other tasks, and our managers were really impressed with our productivity.
53
What do you do in your free time?
1. Long distance running or any type of exercise
2. I love reading (in the summers I love to listen to books and run)
3. I’m a big fan of Architecture and art – The Met, Looking at Building on the upper sides
4. Watching football (Fantasy Football)
54
Where do you see yourself in 5 years?
.. & I believe BofA can take me there.
54
Where do you see yourself in 5 years?
.. & I believe BofA can take me there.
55
If you weren’t doing banking, what would you be doing?
1. Investor Relations,
2. Operations / assisting in building diversity teams and groups to help young adults get into top schools
3. Professor
4. Writing books
56
What initiatives have you taken to learn finance?
"Not an expert but... "
- Excel Courses
- FInancial modeling courses (and then going back in and understanding why its relevant, and the broader affect on the market)
- I purchased an M&A textbook and a valuation textbook
- Podcasts, (M&A science) - it talks about integration
I am sure there is a lot more to learn, but between Wednesday and the time I begin my internship, I am committed to putting myself in the best position to succeed
57
Tell me a time you made a grammatical mistake or misspelling?
58
Tell me a time you took on a lot of responsibility, and how did you manage to be successful?
Challenge:
Response:
59
How well can you multitask?
On what scale?
In terms of projects, meeting demands, and pulling off the semester successfully, id say I was successful
60
Have you ever worked on a project or report that was shown to a large number of people
Absolutely.
I was a research assistant in my undergrad, where I helped analyze and evaluate large sets of data. It required Detail-oriented work, we had to make sure the data was sufficient enough to use to publish the PhD students work.
In my last role, it was similar. I worked with the FP&A team and created pitch decks, and made sure investment memorandum was curated with strong detail to present to stakeholders.
61
Why Colorado State?
62
Why Psychology?
I was always in complex functions of how the mind, body, and thought processes were interconnected. It was very much a science-based passion for me.
How your childhood affects your adult life, how the synapsis in your brain is fired.
It was all very intellectually stimulating for me.
I'm very much interested in complex ideas, however, the idea of being in a clinic, or doctor's office long-term soon sounded very unfulfilling. I felt my personality was too different for that.
Most importantly, I it was both objective and subjective, half of my studies were based on research and statistics, but it allowed me to draw conclusions based on findings, and that's exactly what we do with Finance today.
63
What was or is your favorite class?
This was always dependent on the teacher
64
Favorite movies / books?
Movies - im not really into movies, sometimes documentaries, one of my favorites is about NY
Books - I have a lot, I like all types, self development, novel,
65
Why are you switching now?
Well, ive learned a lot about myself the past few years. I found the
66
Where else are you interviewing? Just Banking?
67
Tell me a time you failed to honor a commitment
68
Since you worked with smaller teams, why do you want to move to a large bank?
I learned to have an entrepreneurial mindset at my prior job. Which was a great experience, but I always felt like working for a larger corporation would really suit me. When I told everyone I was moving to the Big Apple... No one was surprised.. Ive always tried to be something better than I was yesterday
69
Tell me the feedback you received in your most recent job
Getting lost in the details or trying to make something perfect. However, extremely resilient and presenting assertiveness but diplomacy always
70
Why should we not decide to give you an offer today?
71
Why should we give you an offer today?
72
What's your greatest failure?
"Change Journal"
73
Discuss a team project or group activity you've worked on before
74
Describe a time where a team did not work as intended? Whos fault was it?
75
Tell me a time you faced an ethical dilemma?
- Relationship with the Pharmaceutical rep
76
Most difficult situation you faced as a leader and how did you respond?
Philanthropy speech
77
Can you discuss a time where you had to sacrifice your time for the sake of a project or work?
Undergrad:
- College classes, working part-time, extracurricular activities, leadership positions
This past semester:
Have given up on a lot of exploring the city. Hanging out with friends who arent recruiting. But I do not regret any of this, because I am passionate about where Im going and most importantly, I'm excited
78
Do you work better as a leader or a follower?
Both.
| Leader: Philanthropy speech
79
What's your leadership style?
I take the hands-on approach. I wouldn't say I'm on either end of the spectrum. However, I believe in communicating, understanding the strengths of everyone involved, and delegating in a way that makes everyone feel included and appreciated
80
Are you prepared for the lifestyle and the industry
I am prepared to work 100 hour weeks at this point. I understand its a demanding commitment. Although I have not worked in banking before, I have had similar experiences working on projects, homework, and other assignemts
81
Can you explain whats in a pitch book?
1. Banks credentials: this shows how they prove their excellence and expertise
2. Strategic alternatives (summary of the companies options)
3. Valuation and appropriate financial models
4. Potential buyers or targets
5. Summary and primary recommendations
82
Walk me through a sell side M&A deal
See word doc
83
Explain what a divestiture is
Company decides to sell of a specific division rather than the entire company
84
How would you draft a 1-slide company profile for an investor
Break it into four parts. Each quartile represents something different
- Name of company, description, headquarters, C-level executives
- Stock price, key historicals and projection metrics
- geography
- A map to add color and flavor
85
Youre hired as the financial advisor for a company. What value could you add for them if they ask you about their suggested growth / M&A strategy?
I would form a thought based on their goals and see if its the best way they can achieve them. I would never tell them to explicitly do X or Y. I would only make suggestions tailored to those specific goals.
Id provide value by making introductions necessary;
85
Youre hired as the financial advisor for a company. What value could you add for them if they ask you about their suggested growth / M&A strategy?
I would form a thought based on their goals and see if its the best way they can achieve them. I would never tell them to explicitly do X or Y. I would only make suggestions tailored to those specific goals.
Id provide value by making introductions necessary;
86
You have 10 million to invest in anything. What would you do with it
Ask questions:
1. What are the investors business goals
2. Ask if there are any constraints or limitations
87
If you were approached about an acquisition, what would you take into consideration?
1. Price
2. Form of Payment
3. Future plans for the company compared to your own plans
88
You don't have any finance experience, why should we hire you over someone who has experience?
- Character
- Willingness to learn before being asked
- Just because someone else has learned it before me, doesn't mean I cant
89
Whats your greatest fear in this job?
Not having supporting, teammates
89
Whats your greatest fear in this job?
Not having supporting, teammates
90
Your MD is meeting with a client and you've been invited. As he's presenting, you notice a mistake in the material -- do you point it out?
I would not. I would not embarrass the MD. And the mistake may not be noticed. But I would discuss it with the VP after, and see how to discuss it with the MD, depending on the size of the mistake
91
What's the riskiest thing you've ever done?
92
If you had a million dollars, what would you spend it on besides investing?
Swiss Alps & Skii
Buy a lot of shoes
Buy a gourmet espresso machine
93
Tell me about some of the work you did in your prior role?
