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Bayport Financial Services Pty Ltd Interview
Questions

27 Questions and Answers by
| Ryan has over 10 years of experience interviewing
candidates in the healthcare, public service, and private manufacturing/distribution industries.

Question 1 of 27

What would be the initial steps that you would take when evaluating the financial situation for a client of Bayport Financial Services Pty Ltd?

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Bayport Financial Services Pty Ltd Interview Questions

    1.

  1. What would be the initial steps that you would take when evaluating the financial situation for a client of Bayport Financial Services Pty Ltd?
    • If hired for this position with Bayport Financial Services Pty Ltd, you will be expected to be a trusted financial advisor for very high profile clients. Based on your experience, talk about how you begin the process of discovering the needs of your clients. No matter how you answer the question, be sure to highlight your ability to listen to others, ask follow up questions and put those thoughts into action. The position you are interviewing for relies on a heavy dose of trust with your clients, so any of your techniques used to build rapport and trust with your clients is equally important as well.

      Ryan's Answer #1

      "As an experienced wealth planner and financial advisor, my first goal with new clients is to build trust right from our first meeting together. I take a little bit of time to talk about my knowledge, experience and my ultimate goals for any client. From there, I open the door for clients to talk about their situation and their future goals. I listen to them attentively and reflectively listen to their thoughts to truly understand their needs. Once I have this solid base of where they want to be, I can craft a solid plan for them. As you can see, I submitted several professional references from clients that I have served in the past and they would all be willing to talk about my ability to provide a trusting service to them."

      Ryan's Answer #2

      "If hired for this position and given the opportunity to work with clients on their financial planning needs, my first step with new clients would be to have a Q&A session where I can learn about their history, their finances and their plans for the future. The Q&A session would allow the client to ask questions of me as well. At the end of the initial session together, a foundation of trust is built and I let my excellent customer service and knowledge lead the rest of the way with the client."

    2.

  1. If hired for this position here at Bayport Financial Services Pty Ltd, how would you coach our clients to be more detailed in their accounting practices?
    • As an accounting professional, you know that a detailed approach to your work is necessary in ensuring that work produced is accurate. Inaccuracy in accounting practices can have significant impact on an organization. As you look to join Bayport Financial Services Pty Ltd, you will be put in a position to teach others the importance of accuracy and methods for ensuring accuracy in their accounting practices. Talk about how you would go about doing this from a high level overview and make sure you give your interviewer the impression that you have the ability to teach accuracy to the clients of Bayport Financial Services Pty Ltd.

      Ryan's Answer

      "Accuracy in accounting practices requires a methodical approach and documented procedures for staff to follow. If hired for this position, my first priority with clients would be to ensure that procedures are in place for staff that entail details on data entry, data confirmation and re-checking work after it is completed. I have a lot of experience creating custom procedures for accounting departments and I would always make sure that department leaders know that they are ultimately responsible for the work that is being put out by their staff."

    3.

  1. At Bayport Financial Services Pty Ltd, 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?
    • The financial field can sometimes be chaotic and stressful for analysts working on high pressure deadlines and the work life at Bayport Financial Services Pty Ltd 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.

      Ryan's Answer #1

      "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."

      Ryan's Answer #2

      "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."

    4.

  1. What software programs do you use in your current work and how adaptable would you say that you are in learning and using new programs?
    • Overall, your interviewer is simply looking to hear that you have a good grasp on programs to use to make you more efficient in your work and to do this, talk open and honestly about the programs that you currently use and talk about in what context that you use them. If at all possible with this role, try to research what additional programs you may have to learn if given this opportunity to join Bayport Financial Services Pty Ltd and reassure your interviewer that your computer skills are fluent enough to pickup quickly if needed.

      Ryan's Answer #1

      "In my current role, I currently use a program called Zendesk that is an interactive customer support tool. When we started to use this tool a little over a year ago, I was very quick to learn and utilize all of the great functions of the program and have since become a trainer for new staff that join our team. As well, I'm very fluent in the entire Microsoft suite of products and would consider myself an expert on the Outlook, Excel and Word programs."

      Ryan's Answer #2

      "I consider myself very agile when it comes to using and appreciating the vast amount of software that is available to Financial Advisors today. In my current role, I solely use RightCapital as a financial advising tool with my clients. I really love its ability to help in the budgeting and comprehensive planning processes with my clients. I'm also very familiar with the MoneyGuidePro tool and have used it successfully in the past. If hired for this role, you can consider me an open book when it comes to learning and effectively utilizing any programs needed."

    5.

  1. How do you stay on top of new trends in the financial services industry?
    • The interviewer would like to know that your passion for financial services goes beyond your work hours. Do you keep on top of industry news and trends on your off time? Assure the interviewer that you are well immersed in the industry.

      Ryan's Answer #1

      "I stay on top of financial service trends through a variety of blogs, news sites and financial magazines. My favorite finance news site at the moment is businessinsider.com."

      Ryan's Answer #2

      "I believe that it is crucial for me to stay on top of news in the financial services industry if I hope to be a success. I have joined multiple meet up groups to network with industry peers. It has really helped my network and given me insight into how other financial service professionals are making their careers flourish."

    6.

  1. Tell me about a time where you had to analyze information in order to make a recommendation.
    • Talk about your attention to detail and sharp focus on data and statistics. If the job requires you to take an analytical approach to solving problems, think back on your experience to offer up an example. Give as much insight into your process to show you are capable of taking an analytical approach to problem-solving.

      Ryan's Answer #1

      "I worked for a financial firm last year and had a client who was looking for investment recommendations. I gathered data on the stocks they were interested in, sorting through trends and historical data to determine the most promising returns."

      Ryan's Answer #2

      "As a financial service professional, I am always analyzing information before creating a path of recommendation for my clients. I am highly skilled when it comes to data analysis. My abilities stem from my statistics and analysis related courses while obtaining my Bachelor's degree in finance."

    7.

  1. Which accounting platforms are you familiar working with?
    • Coming to work for Bayport Financial Services Pty Ltd as an accountant, your interviewer is looking to hear how fluent you are in working on the technical side of the job. Talk about your experience in working with some of the many accounting programs. No matter which programs you are familiar working with, make sure that your interviewer has the clear understanding that your readily adaptable to working on any program and that you understand the importance these platforms play in your work.

      Ryan's Answer #1

      "As you can see from my resume, my experience over the past 15 years has placed me in a few different industries. With each industry has come experience working with many accounting software programs. I have worked in Infor, QuickBooks, Net Suite and Patriot Accounting over the last five years alone. While they all have their features and benefits that are catered to each industry, I've found myself able to learn systems proficiently and adapt my work to the needs of the systems. If hired here at Bayport Financial Services Pty Ltd, you can rest assured knowing that I would pick up any systems with ease."

      Ryan's Answer #2

      "In my current role, I work exclusively with SBS Financials Suite. I love its ability to custom create reports that are reusable over time and adaptable to be able to use with different internal customers. I also love the budgeting and electronic invoice approval features of this system. In knowing other systems like Workday and QuickBooks, I am confident in my ability to pick-up and work on just about any system quickly and efficiently."

    8.

  1. If you joined the team here at Bayport Financial Services Pty Ltd, how would you build relationships with those that you would be working closely with?
    • 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.

      Ryan's Answer #1

      "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."

      Ryan's Answer #2

      "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."

    9.

  1. One huge philosophy that we believe in at Bayport Financial Services Pty Ltd is professional development. How have you worked to develop yourself professionally throughout your career?
    • In an ever-changing field like financial services, Bayport Financial Services Pty Ltd 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.

      Ryan's Answer #1

      "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."

      Ryan's Answer #2

      "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."

    10.

  1. List the top 3 skills that you have acquired in your last role.
    • You have likely gained many valuable skills in your career. Share with the interviewer which skills you value the most. Be sure to include skills that will potentially benefit this potential new employer.

      Ryan's Answer #1

      "In the past few years I was able to upgrade my education while still working full time. The biggest skill that I gained was my ability to multi-task as I worked the dual role of employee and student. I also have strong skills in a variety of Microsoft programs such as PowerPoint and Excel."

      Ryan's Answer #2

      "There are many skills I gained in my most recent position as I had a great training program and my boss was a strong mentor. If I had to choose three top skills I would say that the biggest ones were effective multitasking, solid closing skills, and cold calling abilities."

    11.

  1. If hired here at Bayport Financial Services Pty Ltd to work with our clients on wealth management strategies, what would you consider to be your preferred wealth management strategies?
    • While this is certainly a very open ended question that you can run with, your interviewer will be looking to hear that you are passionate about creating strategies for your clients in your answer. No matter how you answer the question, speak with knowledge and passion and always tie your answer back to doing what is best for your clients based on their situation.

      Ryan's Answer #1

      "Having guided many previous clients on very successful wealth management strategies, those successes have always relied upon setting goals and creating budgets that guide people towards those goals. I take the time to know and understand my clients, their short and long-term goals and guide them through setting realistic goals and plans for achieving those goals. Along our journey together, I consistently evaluate progress towards goals and reevaluate budgets if ever needed down the road."

      Ryan's Answer #2

      "I would consider my forte in the field to be wealth preservation for late career individuals nearing retirement. I have a lot of experience in creating wills and estate plans, career exit planning and cash flow planning post-retirement for my clients. While I consider this my forte, I also love to work with individuals early and mid-career as well."

    12.

  1. If hired to this role here at Bayport Financial Services Pty Ltd, what do you see as one initial hurdle you will have to overcome in your first weeks on the job?
    • 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.

      Ryan's Answer #1

      "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 Bayport Financial Services Pty Ltd. 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."

      Ryan's Answer #2

      "Understanding that my role here at Bayport Financial Services Pty Ltd 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."

    13.

  1. How can Bayport Financial Services Pty Ltd motivate you on the job?
    • Every employer should know how each of their employees is best motivated. Talk to the interviewer about the variety of ways in which you are best motivated on the job.

      Ryan's Answer #1

      "I am best motivated through words of praise and recognition for a job well done. I do like to know that my efforts are noticed. In my current position, we have a leaderboard, and I do like that concept because it creates a healthy bit of personal competition for me as well."

      Ryan's Answer #2

      "I am a natural salesperson, so the best way to motivate me is through performance incentives. In my current position, I have been in the president's club for the past three consecutive years. I am highly motivated by the vacation that I am awarded annually."

    14.

  1. In this role with Bayport Financial Services Pty Ltd, we will rely on your organized and methodical approach to provide financial analysis reporting. What does your current reporting process consist of?
    • Providing the clients of Bayport Financial Services Pty Ltd with detailed reports will be a key part of this position and your interviewer will be looking to gauge your ability to be organized and detailed while also utilizing your critical thinking skills to provide the best reports possible. In your answer, keep a focus on the techniques and tools that you use to do your job in ensuring that clients are receiving the most accurate and detailed reports possible. As well, let your interviewer know that you are willing to learn new ways and new technologies to help onboard yourself to their team quicker.

      Ryan's Answer #1

      "In my current role, I utilize the Tableau program to provide live, up to date information to my clients. After using a simply built Excel program for many years, Tableau provides beautiful and easy to understand reporting that my clients can take and run with to make important decision. The connections and automations within the program have save me time and effort, allowing me to take on a much more robust client base. If hired for this role here at Bayport Financial Services Pty Ltd, I also have familiarity with SAS and Spotfire and consider myself a very quick learner if I need to learn a new program."

      Ryan's Answer #2

      "When I need to provide reporting to clients or my firm, I ensure that the reporting includes all key risks and valuation. Today, we as Financial Analysts have so many great tools available to us and my current preference is a statistical program like Crystal Ball. When paired with the advance Excel sheets that I have created, and have been commended, my clients are always happy with the insight that I am able to provide."

    15.

  1. What approach do you take in giving financial and wealth advice to your clients? Why does this approach suit your clients the best?
    • For this question, your interviewer is looking to get down to the nuts and bolts relating to the exact method you approach clients with financial advice. Prior to your interviewer, be sure to put thought to your approach and be able to explain why this is both beneficial to your methods and to your clients. Whether you use verbal methods, printed document, email communication or any mixture of the three, be sure you can speak to your method confidently.

      Ryan's Answer

      "I am a firm believer in having a typed up plan that is very detailed for my clients. When coming up with a financial plan, I take the time to present my clients with a written plan and have them review it prior to meeting in person. This gives them time to review information and prepare questions for me ahead of time. My clients have always appreciated this approach and I've included a couple of examples in my portfolio for you."

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