27 Bank of New York Mellon Interview Questions & Answers
Below is a list of our Bank of New York Mellon interview questions. Click on any interview question to view our answer advice and answer examples. You may view 5 answer examples before our paywall loads. Afterwards, you'll be asked to upgrade to view the rest of our answers.
1. Think back over your career up to today and tell me about the most difficult day on the job you encountered. What made the day difficult and how did you handle that situation?
How to Answer
We've all had our share of difficult days on the job and how we handle those days in particular can really make or break where our careers go in that position or with that company. Think of a particular day ahead of your interview that really outlines your ability to handle adversity and proves that you were able to handle it with grace rather than turning your uniform in and heading home for the day. Another important piece of your answer should be discussing what lessons you learned from that particular day moving forward that you still carry with you to this day.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"It's funny that you ask this question because I can honestly say that my worst day on the job happened just a few short weeks ago. Upon arriving to work in the morning, I quickly learned that our entire network was down and we wouldn't be able to work within our CRM or other programs that day. Many of my coworkers were visibly upset and questioning how we would be able to do our jobs that day. Rather than joining the crowd and freaking out about the situation, I huddled our group together to talk about solutions to the workday after we found out that the network likely wouldn't be fully up and running until late afternoon. While some colleagues carelessly went home for the day, I helped brainstorm how we could keep our phone lines open and my boss was very grateful for my efforts that day. Looking back, what made this the most difficult for me was seeing how others responded so negatively over an issue that we had no control over."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Early in my career, I had a day where my entire office came down with the flu and I was left alone with the receptionist for the day. Being trained and working Financial Advisor, my colleagues also handled market analysis, retirement plans and insurance plans. At first, the receptionist and I went about our business. After being flooded with calls and in-person visits into our office, we connected again to talk about a plan moving forward. We discussed what types of calls she could handle and which ones I would handle and she triaged from there. I made contacted with my personal clients I had scheduled that day to reschedule and we worked well from there. If I couldn't answer a question for a client of one my colleagues, I ensured they knew that my colleague would follow up as soon as possible. Looking back, I learned that on days where you have to break routine like we did then that it was important to make a plan as early in the day as possible."
2. Why would our clients here at Bank of New York Mellon want you to be their financial advisor?
How to Answer
As a professional in financial advising, you know that relationships are built on trust and integrity and for the business at Bank of New York Mellon, this is equally important. For your answer, your interviewer will be looking how to hear how you build trust with your clients to ensure that they are customers for life. In your answer, make sure that trust and integrity are common themes as you discuss how you work with each client's individual needs to build their portfolio.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"Looking back on my career to this point, I can say with confidence that my success, and the success of my clients, has been due to my ability to build trusting relationships. My path for building a trusting relationship consists of education, communication and action. I educate each client on a personal level, I set expectations for them and deliver on what I say I'm going to do. If hired for this position here at Bank of New York Mellon, you'll be hiring a Financial Advisor that will be great at bringing aboard new clients as I have many current clients that I am confident will follow me here."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Like in any financial advising relationship, confidentiality and integrity are of utmost importance to clients and these are pieces of the relationships with my clients that I hold in the highest regard. My clients know that I can be trusted to safeguard their personal information and use the best resources possible to help make the best decisions for them based on their personal information and situation. I pride myself on the fact that my clients trust me with their personal information and your clients will have this trust in me as well if I'm hired for this position."
3. If hired to this role here at Bank of New York Mellon, what do you see as one initial hurdle you will have to overcome in your first weeks on the job?
How to Answer
At the heart of this question, your interviewer is asking you to take an honest look inside of yourself to discuss what you feel is the biggest learning curve you will have if offered this position. This will give your interviewer a sense of how to handle your onboarding process if hired for the position and give them a sense that you have the ability to see what your biggest need would be. Similar to the what is your greatest weakness question, the key to answering this question is humbly pointing out a flaw that you may see and making a plan for how you will overcome that flaw.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"Having put a lot of thought into this even before submitting my resume for this position, I realize that my greatest hurdle would be making the leap as an Auditor into the financial focused industry. My five years of experience out of college have been focused on management and technical consulting services, but I feel that I've built a very good knowledge base and experience for this role here at Bank of New York Mellon. If given the opportunity to join your team, my initial focus would be to get enthralled in auditing in the financial industry and I'd do this by being attached at the hip to my colleagues and taking the time to talk one on one with a lot of other staff to help better understand what they'll expect of me in this role."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Understanding that my role here at Bank of New York Mellon would have me working with the entire advisory staff, the first hurdle would be getting to know everyone on that team and showcasing the skills that I could bring to their work. If hired for the job, I would hope to be invited to team meetings where I could introduce myself and my role with the team and I'd invite an open conversation with the entire team."
4. Discuss a time that you worked a client through a difficult financial situation. What were the keys to making it a success for the client?
How to Answer
Your interviewer is posing this question to see how you will handle a situation where a client at Bank of New York Mellon is working through a difficult time. As you talk about how you managed that situation, your interviewer will be looking to hear that you have the interpersonal skills to be effective from the client's perspective. In your answer, be sure to explain the importance of an empathetic approach with your clients and how that approach helps them get through a difficult time.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"During the recession in 2008, I had a very large client call to request that all of his funds be pulled out of the stock market. Knowing that this move was a very poor strategy, I needed him to hear that in most personal and educated way possible. With an active listening approach, I repeated back what he had told me and I reiterated that he wanted to sell them at a low price and hopefully buy them back down the road at a high price. This made the client take a pause and think. This was my opportunity to talk about market history and the odds that his stock prices would rebound over time. He decided to keep his funds in the market at the time and a few years down the road, he called to personally thank me for the sound advice. The fact that I took a personal approach while educating him in the process to make his own decision was the definite key to success in this situation."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Sometimes in this field, difficult conversations have to be had with clients and when I need to have them, I use a very personal and empathetic approach. A great situation where this happened was with a client that wasn't meeting their personal retirement goals to be done working at age 62. At the point we were working together, she was 55 years old. After a quick assessment of her finances, I talked to her about letting her two kids be responsible for their own college tuition. As a mother, her intuition was to support her children in every way possible but the reality was that it was hurting her own goals. Simply put to her, I told her that there are no loans available for retirement and that she was doing both herself and her kids a favor by taking the route I suggested."
5. How long will it take you to make a meaningful contribution to our team at Bank of New York Mellon?
How to Answer
If you were to be the successful candidate with Bank of New York Mellon, when do you expect to make a viable contribution to the organization? Talk to the interviewer about your plan to make a fast impact.
1st Answer Example
"I am interested in making an impact on your organization right away and have already crafted a plan to make that happen. I am a very strong business development professional and I plan to take the territory and expand it to include additional rural areas. This should amount to a strong increase in revenue within the first 9 months of my on boarding."
2nd Answer Example
"My plan, if hired by Bank of New York Mellon, is to make an impact as soon as possible. I have researched this position and am very eager so I have created a 90 day impact plan that I would like to share with you."
6. One huge philosophy that we believe in at Bank of New York Mellon is professional development. How have you worked to develop yourself professionally throughout your career?
How to Answer
In an ever-changing field like financial services, Bank of New York Mellon knows that professional growth and development is vital to them staying at the forefront of their industry. For this question, your interviewer is looking to ensure that your values surrounding professional development match the values of the company. Use this question as an opportunity for you to highlight the many ways that you grow and develop yourself to be the best that you can be in your career. Highlight any continuing education you have completed, any societies or groups that you belong to and any publications that you read on a regular basis that will prove to your interviewer that you aren't comfortable being stagnant in your career.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"I am a firm believer in being a life long learner in my work as a Data Analyst. As technology and times have changed over the course of time, I see it as very important to be learning and changing along with the times. Just over the past two years, the Data Fest and Data Summit national conferences and participation in these events on a yearly basis is super important to me to help me grow and develop."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"In the financial field, I have to stay at the top of my game to compete with other advisors and keep clients happy and flourishing. To do this, I subscribe to and read many of the great publications that are out there. Some of my favorites include the Wall Street Journal, Money magazine and Forbes. I also subscribe to many others. As well, I am a member of NAIFA and I have attended the organization's Congressional Conference on a few occasions."
7. The day-to-day life at Bank of New York Mellon can be hectic and stressful at times. If hired for this role, how would you keep yourself motivated when working with stressed colleagues and pushy clients?
How to Answer
The daily life at Bank of New York Mellon is naturally very fast paced and because of that, both the colleagues and the clients that you may be working with have potential to be stressed, needy and downright mean at times. For this question, your interviewer is looking to get a sense that you would be able to work in this type of environment. In your answer, talk about the fact that you are cognizant of what this job entails as far as personal interactions go and talk about times where you have worked successfully through situations like this in the past. As well, don't hesitate to talk about your own personality traits that help you thrive in these types of situations.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"Being a person that thrives in a fast paced work environment, I have the ability to handle stressed colleagues with a grain of salt. As you can see from my resume, I've spent the last five years in the manufacturing industry where my department worked under tight deadlines all of the time. If I noticed that a colleague was under stress, I offered my help if I was able to and down the road that was usually reciprocated back to me. This unselfish attitude and realizing that someone else's stress wasn't directed at me was the key to maintaining personal health and balance on the job."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"In my current role in client services with a large hospitality group, some days can go off the rails and it feels like I'm working with enraged customers all day long. I have the attitude that their anger isn't directed towards me, but I'm the face of the company that they are currently working with and I need to do my job in helping solve their issue. While I do have great resources at my hand to help solve customer issues, I think that taking the time to get to know all of our management team and how they solve problems is key as well so I know who to put customers in touch with if needed."
8. How do you believe your coworkers would describe you?
How to Answer
The interviewer would like to know how you are seen by your colleagues. Select approximately three words that truly define who you are. Be sure to choose words that radiate positive thoughts!
1st Answer Example
"I believe that my coworkers, if asked, would describe me as a reliable person who is always ready to submit the best work possible. My work ethic has never been questioned, and I am very proud with the work that I have submitted in my career, so far."
2nd Answer Example
"Here are some other great keywords you could use:
- Encouraging
- Caring
- Knowledgeable
- Reliable
- Focused
- Honest
- Assertive
- Tenacious
- Motivated
- Ambitions
- Conscientious"
9. If you joined the team here at Bank of New York Mellon, how would you build relationships with those that you would be working closely with?
How to Answer
For this question, your interviewer will be looking to get the sense that you would be proactive about getting to know your colleagues and fitting into the culture of the organization. Use a personal approach to talk about ways that you have done this in the past and how you would do it if hired for this position. Talk about the importance of relationship building in your line of work and how it helps the overall good of the organization if you take the initiative to do this.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"From my first day on the job, I would take the time to break the ice with my colleagues by introducing myself and setting up an individual meeting with each person. In the past, I've done these meetings over lunch or in an office where I've had questions prepared for me to get to know the person both personally and professionally. I want to ask my colleagues what they expect from me and what I can expect from them. I've found that these conversations really help to open up doors for working with each other moving forward."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Being the new person on the job can be a very high anxiety time for some people, but I love the opportunity to break the ice with my coworkers by making that first contact. I think it's important to get to know each other on a personal level because we spend so much of our lives together in the workplace and I am a caring person that wants to know how last night's soccer game went for the kids. Beyond that first ice breaking conversation, my work relationships are then bonded through my work ethic and helping others on my team to show that I am a true team player."
10. Data Scientist is a fairly new role here at Bank of New York Mellon. Why do you feel that you can make the jump into the financial industry as a data scientist?
How to Answer
As finance becomes more heavily reliant on data, the need for well educated Data Scientists is becoming a need at Bank of New York Mellon. And while your background may not be filled with experience in the financial field, it will be your job to convince your interviewer that you have the skills necessary to be strong Data Scientist while also having some great knowledge of the financial industry. Be open and honest of where your strong point fall and where you feel you have the most to learn while being open to making that progress in the field with Bank of New York Mellon.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"As you can see from my resume, I have a very strong educational and work background in data science. My work experience in the tech industry has helped me grow in many areas that can be beneficial to the team here at Bank of New York Mellon. I think that my experience in mining and cleaning raw data, paired with my experience in machine learning, could significantly benefit your clients that are seeking new and improved market data."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"My passion and skills for mathematics and computer science drove me to a career in data science and analysis. Up to today, these skills have driven me to create a brilliant start up company that I sold almost ten years ago and then to a career with a large online retailer. Knowing that the financial industry is growing in data analytics, now is the time to strike when the iron is hot. As I've set out on a career search in the field, I have been greatly impressed by what I have learned about Bank of New York Mellon and would look forward to help growing the data side of your business."
11. Here at Bank of New York Mellon, we are expecting someone with strong leadership skills to take this role. How would you describe your management style?
How to Answer
Prior to your interview, try to take a long, hard look inside your skills and styles as a leader of others and prepare to present the best management style possible to your interviewer that fits the role that you are interviewing for with Bank of New York Mellon. Your answer should also involve solid research into the culture of Bank of New York Mellon and the details of the role you are interviewing for. Some important things to touch on are your ability to promote a team atmosphere and your ability to delegate responsibilities when necessary.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"My overall management style is the belief in building a positive team atmosphere. I'm a firm believer that each person and role brings a specific skill set to the ocverall goals and purpose of a team and I promote a team based atmosphere by larifying everyone's role on the team, keeping every person's objectives clear, rewarding great performers on the team and holding people accountable for their actions. If hired for this role at Bank of New York Mellon, you can be assured that my promotion of a team based atmosphere would help achieve even higher goals than you have set right now."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"I think that it is crucial for a leader of others to be flexible in their style rather than relying on just one of the canned management styles. I'd like to highlight my abilities to lead as being a manager that works to grow and develop my staff to help them achieve their career goals and a leader who is able to provide direction and authority when the time for it arises. By knowing my team well and promoting our goals, I have the ability to assign work to the right people and follow through with my team on meeting all objective necessary."
12. What is your familiarity with debt-to-equity ratios and what would you consider a good debt-to-equity ratio?
How to Answer
For this question, your interviewer will be looking to hear that you understand the basics of calculating a debt-to-equity ratio and why it is used. In your answer, be sure that you talk about the ratiosd importance in considering debt financing. As well, if you have familiarity with ifferent industries and what is considered a reasonable ratio for each industry, be sure to talk about that as well because what is considered reasonable can differ widely between industries.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"I am very familiar with debt-to-equity ratio calculations and know that ratios lower than 1.0 are desired to consider a firm financially stable. When I've worked with ratios exceeding 1.0, I've provided further examinations of the industry and the organizations stance within the industry to further determine their overall risk to hopefully provide a win-win situation."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Simply put, the debt-to-equity ratio is found with two easy figures found on a company's balance sheet: their total liabilities and shareholder equity. Swaying away from the norm, I know that the financial and banking industries often have to consider debt-to-equity ratios higher than 2.0 to be common and acceptable due to the large amounts of loaned money and high financial leverage by those institutions. "
13. Bank of New York Mellon strives for client loyalty to keep us running strong into the future. What do you feel are the keys to retaining clients for the long haul?
How to Answer
Businesses in financial advising are constantly pushing the limits to ensure that they retain clients and Bank of New York Mellon doesn't take client retention lightly. One slip up and a high profile client will be taking their business to a competitor. For this question, your interviewer will be looking to hear that you understand your role in the customer retention equation and how you take pride in that in your everyday work. Make sure to hit on the point that doing the small things, like prompt communication and follow up, go a long way towards keeping clients happy.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"I learned a few very important things from a senior mentor early in my career that I still hold near and dear to my heart to this day. First, clients expect me to be responsive to their needs to ensure that they keep their business with me. Because of this, I return phone calls and emails as soon as I can, even if that means in the evening, the early morning or on a Sunday afternoon. These small actions go a long way in showing my clients that I care. Another key to the success of my long-term clients is my ability to set and manage expectations for them. Clients desire to have a plan and know what that plan entails and I pride myself on my ability to work with them to set goals and a plan to achieve those goals."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Having lost clients in the past that went to another firm, I take that pain personally and do everything I can do to ensure long lasting relationships with my clients. For me, the first key to long term success with my clients is a proactive approach. I don't wait for clients to get in touch with me to make changes to their portfolio, I reach out to them. This action alone shows my clients that I am working for their best interest. Another action I take that shows my worth to my clients are goal tracking and quarterly progress reports that I send out to them. This is particularly helpful for clients that are working with me in their first two years."
14. Can you think of a situation where raising debt over equity would be beneficial?
How to Answer
Debt and equity have a very closely bonded relationship with each other in relation to a company's finances. In most situations, raising debt can create too high of an amount of pressure to meet payments versus raising equity. But, there are a few key situations where there is a distinct advantage in raising debt over equity and your interviewer will be looking to hear that you understand at least one of those advantages to be tax shielding, reducing cost of capital and not diluting the stake for investors.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"In the situations where I've advised an organization to increase debt, they've received a distinct advantage in a lower cost form of financing versus equity financing. In the end, this reduced the organization's WACC and came out to be a win for them."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Last year, I advised a manufacturer to take the debt over equity route when adding a new line of products that was guaranteed to be very profitable. This fact allowed the company to simply and quickly repay the loan plus interest while being able to reap the rewards of the extra profits. In that same case using equity, final profit would've been less."
15. In this role here at Bank of New York Mellon, we will rely on you to conduct thorough presentations with clients. How would your rate your overall presentation skills and why would you give yourself that rating?
How to Answer
Solid communication and presentation skills are an essential part of a job as a Financial Analysis and this position with Bank of New York Mellon is no different. To show your interview that you will have what it takes to get hired for this role, talk about your experience in delivering meaningful presentations to a group. Be sure to emphasize your delivery style and your comfortability in speaking in front of others and stress that you understand the importance that communication plays in your role as a Financial Analyst.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"Hopefully from this interview you get the sense that I am a people person by nature. In my current role, I make financial presentations to our largest clients and was asked to do this several years ago by my current Director. He saw my ability to capture a crowd through my confidence, my educational demeanor and my wittiness to use humor in my presentation skills. If hired for this role, I'd love the opportunity to work with the clients at Bank of New York Mellon to do the same."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"I pride myself on my ability to communicate clearly and effectively with my colleagues and my clients on a regular basis. With my colleagues, I don't hesitate to talk in person, over the phone or through email when needed. With clients, I have a great way of talking in terms that are understandable and knowledgeable for them to understand complicated items. These skills definitely translate over to my presentation skills when required. A few weeks ago, I presented to a group of investors that were very engaged and asked a lot of questions. I was able to effectively navigate all of their questions to make the presentation a success for all who attended."
16. In working with financial data here at Bank of New York Mellon, what are the steps you would take in the data validation process as part of your work?
How to Answer
Your job as a detailed and proficient Data Analyst requires you to take proper steps in the data validation process to ensure that data used is accurate and clean. Bad data in the financial industry can have a costly impact and your job will be to ensure that doesn't happen. For your answer to this question, discuss the importance and your method for both data screening and data verification as part of the validation process. Also, be sure to talk about any programs that you utilize during the validation process.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"With any large analysis project and performing data validation, my first step is to create a detailed plan for the data needed. This plan will define the required data to be validated and set the way for the remaining steps. The next steps are to validate the information in the database and then the formatting of the data. Finally, prior to validating the data, sampling needs to be done to ensure that a small sample meets the requirements of the project. Being very proficient with many validation programs, I consider myself very proficient in both QuerySurge and Datameer but remain open to learning any new programs here at Bank of New York Mellon."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Here at Bank of New York Mellon, your Financial Advisors rely on the most accurate and up to date data to present to clients and I would take great pride in my job as a Data Analyst to provide the best data possible. To validate data, the two important steps I would take are data screening and data verification. I am very confident in my ability to work with algorithms that screens large sets of data for their accuracy. On top of that, I have worked with a few of the different data verification programs like Experian and Sage Intacct."
17. We pride ourselves on our interdepartmental teamwork here at Bank of New York Mellon. If hired for this role, what kind of team player could we expect you to be?
How to Answer
In the financial world, teamwork at an organization is the key to success and life at Bank of New York Mellon is no different. As you talk about your abilities and experiences in being a great team player, try to highlight certain themes like building trust, gaining respect and being a subject matter expert as part of a larger team. Don't hesitate to show flexibility in your ability to both lead others and be lead by others and use examples of times that you've done both. To seal your answer for this question, talk about your desire to work as part of a team and do your research on this position to find out what types of colleagues you will be working with.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"My colleagues that I work closely with would tell you that I'm knowledgeable in my area of expertise to contribute to the much larger team and do so without hesitation. As well, I'm able to communicate effectively, take direction and run with when needed and always willing to help out other areas if I have free time. I understand that I would be working very closely with the Advising staff here at Bank of New York Mellon and know that they would have high expectations out of my work."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"I prefer to work in an environment that promotes teamwork and collegiality. If I were fortunate enough to join the team here, I want you to know that I love being in a leadership type role on a team where I can delegate work and help train others to better the organization. As well, I also thrive in a role where I am the minion and taking direction from others. I'd say that my key skills in working as a team are my ability to friendly, honest and trustworthy with my team."
18. To help us understand your need for initial training and orientation in this role with Bank of New York Mellon, can you tell me what financial software you have familiarity working on?
How to Answer
Financial software, in particular software geared towards financial analysis, is widely available to the industry with many options available for use. While this won't be a make it or break it question to see if you are experienced with the program that Bank of New York Mellon utilizes, your interviewer will be looking to hear that you have experience on some of the available systems and that you are ready and willing to take on the challenge of learning something new if hired for this role. In the end in answering this question, make sure that you reiterate that you have the ability and the desire to learn a new program if needed to be successful in this role.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"Over the past ten years, I have pretty extensive experience working on Windham Portfolio Advisor and a program called LogicGate. Windham is a program that is used by my colleagues that are building client portfolios and I work on the risk management pieces with each advisor. LogicGate is a program that I completed an RFP to bring on to my department and it has helped us immensely. I do consider myself to have a very high technical acumen surrounding new software. Right now, what programs are your Risk Analysts using?"
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Being a computer junkie in my spare time, I have a wide array of experience with many of the different types of financial and risk analysis software. I'm a big fan of the MATLAB program because of its ability to build my own algorithms and customize the data analysis within the program. This has significantly impacted my firm in my current role. With my firm recently moving to an Oracle platform, I've become very familiar with Oracle Crystal Ball over the last two years and really like its ability to visualize forecasts."
19. Pretend an old friend just awoke from a coma that lasted over 30 years. How would you describe the internet to them?
How to Answer
A common tactic used in interviews for Risk Analysts is making you think on your feet. This brain teaser question, or any similar to it, will judge your thoughts processes to come up with an answer rather than what your final answer is as this is a very open ended question. As you provide an answer to this question, make sure that you explain why you are coming up with your answer and your thought process behind them. A solid thought process on your end shows that you can be analytical and while creatively solving problems using your critical thinking skills.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"Just like my role as a Risk Analyst, the most important thing that I could do in this situation would be to relate it to everyday things that the person would be familiar with. I would explain that the internet is a combination of television, mail, telephone, the local library and an old computer all put into one place. Each one of those components would help explain things like email, YouTube and all of the other life altering things about the internet. To really throw them for a loop at the end to blow their mind, I'd have to let them know that their local grocery store is also available too!"
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"I think that the best way to make it easy to understand would be to start explaining it in its simplest format and then expand from there. I'd draw two neighboring houses and show how the computers in each house can connect to send electronic mail, pictures, videos and information to each other. Then, I'd expand this out over the entire world where we are all connected with all of the feature of the internet. A simplified approach like this is also necessary in our work as Risk Analysts in the financial arena and it really helps people grasp new and very complicated things quickly."
20. How would you define what working capital is for a company and what does its measurement mean?
How to Answer
As a Financial Analyst with Bank of New York Mellon, you will be asked to help measure working capital of organizations. In your definition that you provide to your interviewer, ensure that you give them at least the basic definition of the calculation being current assets minus current liabilities. Then, talk about real situations that you've used the measurement to make critical decisions in the work that you've done in the past. This will confirm with your interviewer that you have the ability to use the measurement in this job.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"In my current role, we measure working capital to gauge the ability of a company to pay off its debts quickly. In working with many industries, from retails to the public sector, the determination of a company's ability to do so based on calculation can differ greatly from industry to industry. To calculate, a range of line items from the company are used to take their current assets minus their current liabilities. In the retail industry, seasonal spikes in business create the need for a much higher working capital and if hired for this role, I have a great understanding of each industries specific needs."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"In a very broad sense, working capital is found by subtracting an organization's current liabilities from their current assets. In my current role, I utilize a more focused calculation of adding accounts receivable plus inventory and then subtracting accounts payable. The more focused calculation give a better idea of total working capital for organizations when trying to get a better overall picture of their health and efficiency when projecting out towards the future."
21. What statistical models are you familiar with and which do you feel would best apply to the financial field here at Bank of New York Mellon?
How to Answer
Financial Engineers and Quantitative Analysts are relied upon in the financial industry to utilize complex algorithms and math to predict the trading market's immediate future. For this question, your interviewer will be looking to get the sense that you have the skills to apply statistical model in finance by having you talk about the models that are familiar with and have worked with in the past. While being honest about your experiences, be sure to point out that you are aware that some apply more to finance and the market to set yourself apart during this question.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"As a data nerd, I love the realm of statistics and I am very familiar with all of the unique statistical models and how to best apply them to different situations. I've applied linear regression when predicting the outcome based on two historically known data points. I've also applied multivariate models when looking at the distribution of multiple data points. Having dabbled a bit in the market myself and now looking to bring my quantitative analysis skills to the financial field, I am very familiar with the Gaussian model for predicting market changes and would love to bring the knowledge that I have of this model to your team here at Bank of New York Mellon."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"As you can see from my prior experience in data engineering and financial analysis, I have extensive experience in time series modelling that utilized both univariate and multivariate models. Multivariate time series modelling has proven to be very effective when looking at and predicting the S&P 500 performance and I think my skills in this arena would greatly benefit your team."
22. At Bank of New York Mellon, our Financial Analysts have to often work under a tight deadline. Talk about a time you had to work under a tight deadline in the past. How did you handle that situation and what made it a success?
How to Answer
The financial field can sometimes be chaotic and stressful for analysts working on high pressure deadlines and the work life at Bank of New York Mellon is no different. To test how you will perform in these situation if hired for this role, your interviewer will be looking to hear about a time where you did just that. No matter what the situation is that you discuss, be sure to show how you remained calm, focused and on-task to get the job done. Try and stress how you are resourceful and willing to utilize a team effort if necessary.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"In my current role, I'm tasked with preparing some reports for our leadership team's bi-weekly meeting. Upon first taking that responsibility, I made sure that I kept myself organized during each work day and saving and prepping relevant information needed for their report. A couple of months ago, I was informed first thing in the morning that the meeting was being moved a week up to later that day due to some conflicts and vacation time for some of the team. Right away, I moved some things on my calendar to make this a top priority. From there, my regular organization of the materials needed made it easy for me to complete my job."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"During my last semester of my MBA program last spring, I was nearing completion of my capstone project. The project was a case study of mergers within the manufacturing industry and was a great overall project to learn from. During the semester, my full-time job I was working to put myself through school was becoming much more demanding and parts of my project got postponed to a point where I was fearing not being able to complete it to the best of my abilities with the final due date approaching. Right away, I rearranged my work schedule to work half time and began plugging away at the final pieces of the project. To complete it, I had to sacrifice some outside weekend events with friends. While sad to do that at first, I learned some great lessons on time management, project management and sacrifice."
23. What types of compensation structures have you worked under in the past and do you have any expectations for this role with Bank of New York Mellon?
How to Answer
Compensation for Financial Advisors can vary from a straight salary, straight commission, salary plus bonus or a fee-only structure. You can speak openly and honestly to your interview about the types of compensation you have received throughout your career up to this point, but it is always important to do your research on Bank of New York Mellon and how they pay their advisors when you elaborate on the compensation model that suits you best. In the end, it is important to match your expectations with the compensation structure of Bank of New York Mellon.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"In the current role that I have been in since graduating from college, I started on a base salary for three years guaranteed that also had a bonus structure tied in for performance. At the the end of the three year base salary period, I was moved to a straight commission and have been on that for almost five years now. I am very confident in my ability to be a high performing advisor on commissions and bonuses and find that I have a very high motivation to succeed in this atmosphere."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"As an experience advisor that has spent time working with a large firm, a small independent firm and being self-employed, I have worked on pretty much every pay structure possible for our profession. At the point that I am at in my career with an aging family and grandchildren on the way, a salary plus bonus structure is what I'm seeking during my job search. From what I understand about this position, the compensation you are offering falls within those parameters. Are you able to expand on the bonus structure so I have a better understanding of how it works?"
24. What statistical analysis tools do you have experience working with?
How to Answer
As a successful and resourceful Data Analyst, your interviewer at Bank of New York Mellon is expecting you to be knowledgeable and well-versed in the many tools available to you. In your answer, be sure to show diversity within particular programs like SAS and SPSS while also explaining that you are very proficient in Microsoft Excel. On top of the programs, talk about any experience you have with programming and database language like SQL and Python.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"In my current role, most of my analysis is handled in SAS and I've really grown to appreciate the program's ability to to manage large data sets and create predictive modeling in the financial field. From a past job, I have experience on SPSS and also with the SQL programming language to build robust databases. Of course, I have received expert level training in Microsoft Excel and consider myself a master of the program."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Having been in the field for over 15 years, looking back at the technological advancements in the tools that we use is very amazing. I consider myself very fluent in both the Sisense and KISSmetrics programs. I also have a good amount of experience in Crystal Reports."
25. Take a couple of minutes to sell this notepad to me.
How to Answer
To be successful in the financial advising field, one top key to success is your ability to sell your service to your clients. For this task, your interviewer will slide a notepad (or other item) to you across the table and ask you to sell it to them. First and foremost, your interviewer will be looking for you to project confidence in your pitch and your ability to find their own needs in what they're looking for in a notepad while you give them your pitch. As you sell them the notepad, be sure that you are confident, creative and that you ask questions of them. Overall, see this question as a fun opportunity to show your advising skills in a very nontraditional way and it will be a success for you.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"Well Mr. Jones, I know in your line that you definitely in high need of notepads to help you succeed in your industry and I'm here to show you a new product we have put out to market that can exceed your needs. You'll notice that it features very wide margins that accentuate the note taking procedures for all who use it. You'll also notice that each individual sheet is carefully perforated to make separation from the binding an easy task compared to other notepads. The last feature of our new notepad is that it comes in many different paper colors that suit your needs. If you want, take this sample to your office for a week and put it to use. If you and your staff would make use of it, I can set you up with your first shipment in no time!"
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"Mrs. Jones, we at Notepads, Inc. are excited to announce a new line of notepads for our exclusive customers. If you can, tell me a bit about your frustrations with your current line of notepads that you use. Wow, thank you for that. I can tell that functionality, cost and supply are all issues that are of concern and I'm happy to tell you that this fantastic notepad meets your needs with the brightest white paper, narrow ruled, right priced and readily available features. I'd like to talk about you further about pricing and delivery options when you are ready."
26. If hired for this position at Bank of New York Mellon, what factors would you consider part as part of an organization's long-term liability?
How to Answer
To begin for this question, make sure that you can define a long-term liability as obligations that are due beyond one year and into the future. Then, consider major factors like bonds, mortgages, leases and other items that factor in to an organization's long-term liability. Last, try to explain why the measurement of long-term liabilities are important is an important factor in considering the overall financial health of an organiation.
Written by Ryan Brunner on October 9th, 2020
Answer Example
"While long-term liabilities aren't an immediate issue on a companies working capital, the can become an issue if long-term liabilities pile up too high for some organizations. While often overlooked, items like mortgages, fleet vehicle loans and annuities can add up over time and are always items that I consider when looking at the overall health of an organization."
Written by Ryan Brunner on October 9th, 2020
27. In this role as a Risk Analyst with Bank of New York Mellon, you will be expected to be the expert on changes in financial regulations that impact our business. How do you keep yourself up to speed on these changes currently?
How to Answer
In a rapidly changing field like finance, you are expected to keep up with the changes at the snap of a finger and to gauge your ability to do this, your interviewer will be looking to hear that you will have the resources needed. Talk about the groups or publications that you belong to where you get imperative news on the field. If possible, use an example of a time where you shed light to your organization on a new risk from one of those publications. As well, don't hesitate to mention that you enjoy reading and learning new things in the field.
Written by Ryan Brunner on October 9th, 2020
1st Answer Example
"I have been a CFA member for over five years now and I really look forward to the quarterly CFA Digest publication, the CFA Magazine and their news brief email that comes out daily . I find these are great resources that cover things ranging from daily news that impacts our work lives to very big picture studies and findings as published in the digest. If hired for this role, I would continue to be an active CFA member and would continue to utilize their resources for my work."
Written by Ryan Brunner on October 9th, 2020
2nd Answer Example
"As a risk professional, I have been a member of the Global Association of Risk Professionals for many years. I have been certified by the association for Financial Risk Management and I try to attend their national conference every year to network and learn from other professionals. The FRM group has enable me to keep on the forefront of changes in the financial management that impacts risk on an almost daily basis and the group helps me live and breath financial risk every day."