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CIT Merchant Banking 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

Our clients here at CIT Merchant Banking expect top-tier service and products and we will expect you to do just that in this role. Have you ever went the extra mile for a client when it wasn't expected? Why did you do so?

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CIT Merchant Banking Interview Questions

  1. 1.

    Our clients here at CIT Merchant Banking expect top-tier service and products and we will expect you to do just that in this role. Have you ever went the extra mile for a client when it wasn't expected? Why did you do so?

      CIT Merchant Banking looks to set themselves apart from their competition by delivering the best service possible in the industry. You, as a customer service professional, are likely used to doing this so in your example, be sure to think about a time where your going above and beyond the call of duty really impacted the overall customer experience. No matter what example you use, be sure to explain why you felt it was important to take that action and what outcomes you are aware that it produced.

      Ryan's Answer #1

      "A couple of years ago when I was working customer service in retail, a customer was looking for what happened to be a discontinued item of clothing for her sick mother. The easy route would have been to simply look it up, tell her it was discontinued and have her be on her way. What I did was take down the customers contact information and let her know that I could contact our person that handled archived products. If we could track it down, I would be in touch. With a simple phone call, my colleague was able to track the item down from the supplier and have it coordinated to ship directly. We put the customer in direct contact with the supplier and she was as happy as could be. Looking back on that situation, I felt that it was the right thing to do given the situation that the customer was in and knowing she was a loyal customer of ours."

      Ryan's Answer #2

      "My current role in hospitality often has me working with very high profile customers that come to our hotel. Last year, a touring manager for a musician contacted me regarding and upcoming stay for the musician. I proactively asked for their dining and entertainment preferences and with that list, I was able to work with our catering staff to ensure we had preferred items on the menus for the nights that he stayed and that we had a customized video game package in the musician's room for the his extended stay. Prior to him leaving, his manager reached out to thank me for the great service!"

  2. 2.

    If hired for this role with CIT Merchant Banking, how would handle a large a work load of clients working through a mortgage process.

      At the heart of this question, your interviewer is looking to find out how you manage a busy workload by having you talk about your organization skills on the job. In your answer, talk about the skills you have and the tools that you use to stay organized and on-track while handling a large workload. Don't hesitate to talk about the software programs that you use and any other tactics that you use to ensure that all deadlines are met and no issues occur with clients because of too large of a workload. In the end, your interviewer wants to walk away from this question knowing that you'll be able to provide top notch service to the clients of CIT Merchant Banking.

      Ryan's Answer #1

      "In my current role, I'm able to handle a very large workload with my ability to stay organized on the job. If you could take a tour of my office, you'd see that I maintain a neat and clean desk with a very organized file cabinet of my current workload. If I need to shift gears and move on to work with another client, I can easily access information on the fly and keep moving. I also utilize my Outlook calendar to set deadline reminders to stay on track of closing deadlines and paperwork requirements and the tasks function within the program helps me stay right on track with all of my clients I am working with at a given time."

      Ryan's Answer #2

      "During my time working a large client load as a mortgage consultant, my success was due to my efficiency and organization on the job. If hired for this role with CIT Merchant Banking, my efficiency would be very high because of my experience with the entire mortgage loan closing process and my ability to handle certain challenges quickly with that experience. From there, my organizational skills within the loan process software I have experience with kick in to help me keep each client on track with their loan process."

  3. 3.

    Why do you want to pursue a career in the banking industry?

      Before your interview, take some time to think through your career goals. CIT Merchant Banking is looking for motivated individuals who want to grow within the company. Share your career plans. Talk about how this position will help you achieve your goals!

      Ryan's Answer #1

      "I am passionate about the field of finance and accounting, mixed with an unwavering passion for quality customer service. The banking industry allows me to tap into both areas and have a lot of fun making positive customer experiences along the way."

      Ryan's Answer #2

      "Careers in banking run in my family! My mother was a banker and my father, a financial advisor when I was growing up. It always fascinated me how smart they both were. It's in my blood!"

  4. 4.

    What is the highest level of mathematics that you completed during any of your schooling?

      Working as a Teller for CIT Merchant Banking will require you to have pretty basic math skills and the ability to count cash in an accurate and efficient manner. For this question, your interview will be looking to hear that you have completed at least some levels of high school math and did so with ease. In your answer, while you discuss what levels of math that you have completed during your education, be sure to explain how your mathematical skills will be able to apply to the job that you are interviewing for. Make sure that your interviewer walks away from your conversation confident in your abilities.

      Ryan's Answer #1

      "As you can see from my resume, I have an Associate's Degree in Marketing and during my coursework at XYZ Technical College, I took both college level statistics and financial accounting courses. With both of these classes, I am confident in my ability to handle and count large sums of cash and also operate account software if required for the job here at CIT Merchant Banking."

      Ryan's Answer #2

      "During my final year of high school a few years ago, I completed my final semester of Algebra II with an A- grade. Through my years of Algebra I and Algebra II during high school and with my retail experience prior to this interview, I feel comfortable with all of the accounting related duties that I would handle in this role with CIT Merchant Banking."

  5. 5.

    If hired for this role here at CIT Merchant Banking, how would you manage your daily tasks on the job to ensure that your work is completed in a timely and efficient manner?

      Your interviewer is posing this question to gain insight into how you use resources and technologies to keep you on track in your work and to also get a sense for how you prioritize the small details in the work that you do. As you answer the question, be very specific as you describe your ability to multitask many duties throughout a given work day and talk about the tools that you use to keep yourself on track in your work. As you talk about this process for yourself, don't lose sight of your focus on the small details in your work and discuss why doing things in detail is important in the work that you do. Make sure to talk about real world examples that you've used in the past that you feel would be helpful in this role as a Teller with CIT Merchant Banking.

      Ryan's Answer #1

      "I consider myself to be highly organized in my work and I do this by using my calendar
      and task functions within Microsoft Outlook. I schedule time each day for my daily tasks and it doesn't take me very long to have a quick understanding for how much time is needed to complete the routine tasks on a daily basis. I always make sure to allow for enough time for each task to be done as thoroughly as possible. Then, for the tasks that pop up from time to time, I always make sure that I add those to my to do list quickly."

      Ryan's Answer #2

      "In my current role, I print a daily checklist of my duties and begin working on that list as soon as my day starts. Some of the tasks have a prerequisite task that day, so I have my checklist prioritized by needs from the top. I have found this method to be extremely useful in helping me make sure that my duties are handled each and every day and I wouldn't hesitate to utilize something similar if hired for this role with CIT Merchant Banking"

  6. 6.

    How would you rate your ability to learn new software programs on a scale of 1 to 10?

      In today's digital age, a majority of bank transactions are handled through digital software and for you to be successful in this role, your interviewer will expect you to be a very fast learner of any new programs that you would be required to work with at CIT Merchant Banking. To give your interviewer a sense of how well you would be able to do this, talk about times where you've had to learn new software programs on the job in the past and talk about your best methods for learning on the job. As well, you can openly talk about the programs that you currently feel that you are proficient at as well to give them an idea of what type of training you would need if hired.

      Ryan's Answer #1

      "I would say that my ability to learn new software programs is easily ranked as an 8. I am very proficient at word processing programs and the entire Microsoft Suite of products. I'm also very proficient at the cloud based point of sale program that I use in my current role. When hired at my current job, I need about a day of side by side training with my mentor and I was up and running with no problems. I rated myself an 8 simply because I have room to grow in learning software in the banking industry but feel very comfortable in my ability to learn quickly if hired at CIT Merchant Banking."

      Ryan's Answer #2

      "I would honestly rate myself a 9 for this question solely based on my prior history of mastering programs with my current banking institution. During my five years in my current role, I began by training on SAP programs and was able to pick up and run in my role as a Teller very quickly. Recently, we made an institution wide switch to the Oracle suite and my transition there was very smooth!"

  7. 7.

    Tell me about your cash handling experience.

      Share some of the details of your experience in cash handling, which are relevant to the position.

      Ryan's Answer #1

      "As a bank teller, I have handled cash as a part of customer transactions for the past two years. I am experienced with deposits, savings withdrawals, cashing checks and issuing traveler's checks. I am excited to learn more about CIT Merchant Banking cash handling procedures."

      Ryan's Answer #2

      "The majority of my cash handling experience includes my time in retail. I was a cashier at Store ABC for three years. As far as the banking industry goes, I have some experience in handling cash from my three months with Bank XYZ."

  8. 8.

    Are you familiar with KYC and how it impacts our business at CIT Merchant Banking?

      Prior to your interview, it is important to know and understand the principles of KYC. To start, KYC stands for Know Your Customer and these are steps taken by financial institutions to establish customer identity and understand the nature of the customer's activity to further assess money laundering risks with that customer. For your answer to this question, give your interviewer the sense that you know the basic premise of KYC and how it impacts your work that you do while also highlighting the important elements of a KYC program like customer identification and ongoing monitoring.

      Ryan's Answer #1

      "Over the recent years, my work as a Financial Advisor has moved to heavy load of phone and online work and steps in customer identification have included things I needed to be cognizant of. Even though I know even the fine details of my clients' voices, I must have clients confirm personal information over the phone before discussing details with them. This personal info can include full names, date of birth, address and social security number. Because money laundering and identity theft have become so prevalent in the past ten years, I take these important steps in my work very seriously."

      Ryan's Answer #2

      "I am very familiar with the Know Your Customer ethical guidelines in financial advising and have received a lot of formal training surrounding it. When opening new accounts for clients and maintaining them down the road, the KYC Rule 2090 is essential for me and my firm to keep records of facts on each customer and know if any other people have the authority to act on the customer's behalf regarding their finances. I love the fact that the KYC standards have helped build robust client profiles within our systems and these help make my financial decisions with them much better."

  9. 9.

    How would you handle communication with a customer that was visibly upset?

      In this position with CIT Merchant Banking, you may be faced with a customer that is upset and/or mad at the situation they are in. Because of the shoes you will be filling as a Teller, you will be expected to help deescalate the situation through solid and effective verbal communication with the customer. As you answer this question, talk about your ability to remain calm, cool and collected in any situation and explain how you take an empathetic approach with any person that you will work with in this role. If you have an example of a time that you were faced with this situation, don't hesitate to walk your interviewer through that situation and how you handled it.

      Ryan's Answer #1

      "Having worked in customer facing roles for my entire career, I have handled many angry customers and feel I have a great method in the way that I communicate with them. First, I start by hearing them out and letting them vent in any means that they want. From there, I calmly repeat back the key points and then begin brainstorming solutions for them. By maintaining a calm demeanor during these situations, angry customers are often able to calm down rather quickly. After I understand the customer's needs, I take all steps necessary to help solve their problem. If this entails bringing in another colleague, I don't hesitate to do so in a team based approach."

      Ryan's Answer #2

      "When this happens in my current role, I make sure that any other duties I am currently working on are put on hold so I can give full attention to that customer. Last week, I was the only person on staff handling a busy lobby when a customer came in very upset with a vehicle that they had just purchased. I immediately put the phones on hold to take the time to listen to their concerns. After hearing the causes of their frustration, I had them wait in our lobby and I went and talked to our Sales Manager. He made time for the customer immediately. In these instances, providing swift action to help alleviate any further issues is the most important thing that can be done."

  10. 10.

    The banking industry is built on trust and this is no different at CIT Merchant Banking. Do other people you have worked closely with consider you to be trustworthy?

      While the easy route for this question would be to simply answer yes and move on, your interviewer will be looking for you to talk about a specific situation or two where you proved your ability to be trusted in the workplace. Take the time to think about a time where trust was instilled in your beyond your normal job duties and explain the situation to your interviewer. Be sure to explain why the situation was important, what you learned from it and how it helps you be seen as a more trustworthy candidate for this role at CIT Merchant Banking. In the end, remember that the ability to be trusted as a Teller with CIT Merchant Banking is one of the premier qualities that your interviewer will be looking for in an ideal candidate for the role.

      Ryan's Answer #1

      "If you were to ask any former colleague or manager that I have worked with, they would all say that I am worthy of any trust you would instill in me. In my current role, my manager has given me the duty of physically transporting our daily bank deposits and has given me a set of office keys and the code to the security system as a backup to our management staff. In my five years with the organization, I have proved myself to be trusted with these duties through my error free work, great attendance record and honesty."

      Ryan's Answer #2

      "I have always put it on myself to try and cross-train and learn as many roles with companies that I have worked with in the past. As well, I've always strived to become an expert on all total process at any given job. Because of this extra effort, my current manager has asked me to be a department representative on a few different committees in my current organization. As well, I've also been asked to lead a few process improvement projects within our department. My manager has directly told me that I was asked to take on these extra responsibilities because of the trust that he has in my work ethic and my overall knowledge of our organization. If lucky enough to come work for CIT Merchant Banking, I would bring this same attitude to the team here."

  11. 11.

    What do you want to accomplish at CIT Merchant Banking?

      Set some goals so that you can share how this position at CIT Merchant Banking will help you to achieve them and how you will add value to CIT Merchant Banking along the way.

      Ryan's Answer #1

      "First and foremost, I want to deliver top quality service to customers of CIT Merchant Banking and perform my responsibilities with best in class service. I want to work at CIT Merchant Banking because I want to become a financial advisor. Starting out as a professional banker will give me valuable experience resolving client account issues and providing financial assistance, from investments to savings and travel advice."

      Ryan's Answer #2

      "My primary goal is to achieve a leadership position within the banking industry. To do this, I will continue my related education and take any training opportunities that come my way."

  12. 12.

    What is your experience in managing an overall performance appraisal process for your staff?

      While your interviewer can see that you have employee management in your experience from your resume, this question is allowing you to really get into detail about what experiences you have in working through a performance appraisal process with your staff in the past. While being open and honest in your experiences, try to highlight your ability to use fair judgement in writing performance appraisals and highlight any technologies that you've used to help manage the performance of your team. As well, don't hesitate to discuss any of the difficult conversations you've had in the past with your staff as CIT Merchant Banking will look to you to be an effective part of this process as their next Branch Manager.

      Ryan's Answer #1

      "In my current role, I manage a team of 13 employees and our policy is to conduct appraisals near a staff member's hire anniversary. I'm a firm believer that writing an appraisal takes preparation throughout the year by documenting performance. When it comes time to writing the appraisal, we use an online performance management system that makes organizing details within the appraisal really nice. I always block time on my calendar to take the time needed to focus on putting detail to paper and don't rush through it because feedback is so important to improving the performance of my entire team."

      Ryan's Answer #2

      "As you can see from my resume, I have over 10 years of management experience and within that experience, I have a lot of experience in the performance appraisal processes for my staff. I take the approach of using a fact and documented based approach with my staff rather than personal opinion. Being in a very volatile and high turnover industry right now, evaluating my staff on tangible factors is very important. Throughout my career as a manager, I've had to have many difficult conversations with staff that were put on performance improvement plans based on their annual reviews and am comfortable having these conversations in a professional, yet personal manner."

  13. 13.

    Due to the continued explosion of the digital world, CIT Merchant Banking is becoming more virtual on a day to day basis. What job duties would you see as being fluent in this role as a Teller with us?

      As banks have adjusted the way they do business over time to suit the needs of customers that are becoming more automated and mobile, the traditional Teller job description has certainly changed with the advancements in technology. With this question, your interview is simply looking to gauge how flexible you would be if hired for this role because CIT Merchant Banking will be relying on the person hired this role to be highly adaptable in a changing work environment. As you answer, let your interviewer know that you are aware of how rapidly the banking industry is changing and give examples of a time or two you had to be flexible in your own job duties. Then, really put thought into what you feel are ways that the traditional Teller job role has changed and will continue to change over time.

      Ryan's Answer #1

      "As my own personal banking has certainly changed to the point where I hardly visit a bank lobby any more and take care of more things online, I would venture to guess that a Teller is face to face a lot less with customers than they used to be and handling more job duties over the phone and online with customers. I would envision that on top of traditional withdrawals and deposits, Tellers at CIT Merchant Banking are also seen as advisors to customers when it comes to different products within the bank. If hired for this role, I would be excited to be flexible and learn new duties to become a more complete member of the team here at CIT Merchant Banking. In my current role as a Customer Service Rep, I've had to be very fluid in my job duties."

      Ryan's Answer #2

      "In my current role as a Teller, I've been very adaptable over the last couple of years as my current institution moved a lot of services to a virtual format. I've received extensive training on ATM troubleshooting for customers using the ATM in our parking lot. I've also been trained on our branch kiosks and tablets that customers use for loan applications and other transactions. But because many of our elderly customers still prefer traditional in-person transactions, I've never lost my touch as a traditional Teller. If hired here at CIT Merchant Banking, I'd look forward to being a flexible Teller that is willing to adapt with changes moving forward."

  14. 14.

    Tell us how you keep your knowledge current with ongoing changes in the banking industry.

      Due to the competition within the banking industry, CIT Merchant Banking strives to stay relevant by adapting their products and services to meet customer needs. Consider reading some news articles, press releases, or blogs, to learn more about the industry.

      Ryan's Answer #1

      "I am interested in learning about helping my customers with their investments. I like to read financial blogs to stay on the cutting edge of latest trends. I also enjoy reading the latest books with a financial scope and listening to financial advice. I also follow CIT Merchant Banking on Twitter and keep abreast of relative headlines."

      Ryan's Answer #2

      "I am an avid reader, and my top go-to books for banking related knowledge are A, B, and C. I also listen to a few investment-related podcasts on a weekly basis. I understand the importance of staying on top of the latest trends and news in the banking industry."

  15. 15.

    Tell me about a goal you achieved. What steps did you take to get there?

      The banking industry offers a variety of opportunities to those who are motivated. CIT Merchant Banking is seeking individuals who think about the future and aspire to be successful in everything they do. Think about something you accomplished through hard work and dedication.

      Ryan's Answer #1

      "Early in my career, I strived to get to know the banking and thrifts systems from a 360-degree view. I worked hard to partner with my peers in learning how their roles contributed to the whole organizational flow. I set a goal to become head teller within the first five years of working in this industry. I hope to continue that career path with CIT Merchant Banking and am excited for the opportunity to do so."

      Ryan's Answer #2

      "A few years ago I set the goal to complete my Bachelor's in Finance while working full time. I achieved this in just four years, through spending a lot of time in online studies, between working as a bank teller. I am very proud of the discipline and dedication I was able to put towards this goal."

  16. 16.

    What do you know about CIT Merchant Banking?

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  17. 17.

    On the finance side of CIT Merchant Banking, we expect our representatives to be ingrained in our sales focused culture. If hired for this role, how would you learn and embrace our sales process?

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  18. 18.

    Tell me about your education. How has it prepared you for this opportunity with CIT Merchant Banking?

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  19. 19.

    In this finance role with CIT Merchant Banking, what do you feel would make for an ideal customer experience?

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  20. 20.

    To get to know what type of leader we'd be hiring at this branch of CIT Merchant Banking, how would you describe your management style?

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  21. 21.

    Have you ever had to work with a difficult colleague? How did you handle that situation?

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  22. 22.

    If you were having an interaction with a client here at CIT Merchant Banking and you weren't able to answer their question or solve their problem on your own, how would you handle that situation?

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  23. 23.

    Talk about your experience in mortgage loan closing. How would this experience be beneficial to our team here at CIT Merchant Banking?

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  24. 24.

    What customer service experience do you have that would greatly benefit the customers at CIT Merchant Banking?

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  25. 25.

    How do you stay organized?

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  26. 26.

    What experience do you have in multitasking different duties in any of your prior work experiences?

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  27. 27.

    What has been the most stressful situation that you faced in the workplace and what did you do to ensure that you navigated that situation successfully?

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