PennyMac Loan Services Interview
Questions

6. As a professional in the financial services industry, you must have great integrity. Do you consider yourself an honest and trustworthy person? Due to the sensitive nature of your work, honesty is a core requirement in everything that you do. Assure the interviewer that you are an honest and trustworthy person, worthy of employment with PennyMac Loan Services. Here is an answer example: "I have often been told that I am one of the most trustworthy people out there. In addition to being raised to always make the right choice, I have no fear when it comes do delivering honesty. You are more than welcome to check in with my references as well. They will speak highly of my character." Here is an answer example: "Integrity is very important in the financial services industry. Yes, I absolutely consider myself to be honest and trustworthy."7. Due to the sensitivity of our business, in order to work for PennyMac Loan Services, you must be able to pass a criminal background check. Are you willing to comply? If you do not have any criminal history, this is an answer that will be very simple and concise. If you do have a criminal history, now is the time to disclose it. Here is an answer example: "I do not have a criminal history of any kind and I am happy to comply with any form of background check you require." Here is an answer example: "I should disclose to you that I have a mark on my criminal record. I have a DUI from 1998. Since then I have maintained a clean record and I am willing to comply with any form of background check that you require."8. At PennyMac Loan Services we put great pride in our customer service. How do you ensure that your clients are well taken care of? In which ways do you ensure that your clients are well taken care of? Talk to the interviewer about your customer service skills. Here is an answer example: "In my current position I take many steps to ensuring great customer service. To me, this means having excellent follow up and strong active listening skills. I remember the names of my client's children and I call to congratulate them on milestones. I will keep in touch to update them on new services as well." Here is an answer example: "I can assure you that, if hired, I would put the customers of PennyMac Loan Services first. When working in the financial services world, your customers can determine your success. I have a very high referrals rate which tells me that my customers are happy."9. Every employee with PennyMac Loan Services is expected to be sales-minded and target driven. Walk me through your experience in sales based roles. Briefly take the interviewer through your sales based work history. Be sure to highlight your best results. This is where it is very important to know your sales numbers before walking into your interview. Here is an answer example: "I have been in a sales based role for the past 10 years. With Company A, my best year I finished 125% to quota. With Company B, I began from the ground up and left with a portfolio of business worth $$$. In my last position, with Company C, I was the top grossing financial services employee in our branch at 167% to target." Here is an answer example: "At this point in my career I do not have a lot of financial sales related experience; however, I am well versed in a variety of business development and cold calling techniques. I fully understand how to build a sales pipeline and see the importance of building a referrals based business."10. Tell me about the largest financial portfolio you have been responsible for. Chances are you have gained a lot of momentum through your financial services career; likely being responsible for a larger portfolio every year. Assure the interviewer that you can handle the level of responsibility they are expecting to hand over to you. Here is an answer example: "My responsibilities have always increased over time and in my last position I was responsible for a portfolio of $$$. Can you share with me the size of portfolio that I would be working with here at PennyMac Loan Services?" Here is an answer example: "I am newer to my financial services career and have worked very hard to develop a strong portfolio this past year. Currently my portfolio is worth $$. What size of portfolio would I be responsible for at PennyMac Loan Services?"11. Do you have experience in cold calling? If so, tell me about your targets and results. Cold calling, warm calling, prospecting, and building a sales pipeline - these are all tasks generally associated with most financial services roles. Assure the interviewer that you are capable and willing to do what it takes to get the sales results you need! Here is an answer example: "I have experience in cold calling and all other forms of generating new and repeat business. I took a workshop last year on the art of cold calling as well. In my most recent position I made approximately 100 cold calls per week." Here is an answer example: "I am new to my career in financial services and sales; however, I have taken an online course focused on cold calling. This course was incredibly helpful and I look forward to meeting and exceeding my targets with PennyMac Loan Services."12. Aside from your post-secondary degree, what other financial services related training and certifications do you possess? The interviewer would like to know about any financial related designations you may currently have. If you do not have any special designations, are you planning to complete any? Here is an answer example: " Here is an answer example: "My goal is to gain at least one additional certificate per year. I have achieved XX so far and next year, a course on XX is on my bucket list!"13. Would you consider expanding your education to include an MBA? Why or why not? Depending on the role you are interviewing for, you may have completed a Bachelors degree in a finance or business related field. Talk to the interviewer about your potential plans for continued education. It's always best to leave the door open for opportunity! Here is an answer example: "Although I have my Bachelor's degree in Finance as well as my CFA and FRM designations, I would absolutely consider returning to complete an MBA. Do you encourage continued education for your employees at PennyMac Loan Services?" Here is an answer example: "An MBA is never a bad idea; however, that would be a long term goal for me. At the moment, I am focusing on building my financial services portfolio and gaining additional knowledge through industry related workshops and courses."14. What qualities do you feel a successful manager should have? Some great qualities of a manager are: - Being someone who people naturally want to follow - Exceptional interpersonal skills - Strong relationship building skills - Taking ownership for the team's errors and mistakes - Excelling at motivating others - Providing kudos/recognition to your team - Knowing how to select and hire the right people to join the team - Having a vision for the future These are just a few to get started! Here is an answer example: Here is an answer example: "I feel that a successful manager should be patient, strive to be a mentor, and be willing to receive constructive feedback from their team. As a manager, I want to have a team that trusts me and comes to me for professional development and coaching."15. How do you believe your coworkers would describe you? 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! Here is an 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." Here is an answer example: "Here are some other great keywords you could use: - Encouraging - Caring - Knowledgeable - Reliable - Focused - Honest - Assertive - Tenacious - Motivated - Ambitions - Conscientious"16. How long will it take you to make a meaningful contribution to our team at PennyMac Loan Services? If you were to be the successful candidate with PennyMac Loan Services, when do you expect to make a viable contribution to the organization? Talk to the interviewer about your plan to make a fast impact. Here is an 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." Here is an answer example: "My plan, if hired by PennyMac Loan Services, 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."17. How would you rate your performance in this interview so far? This question is meant to create a little bit of stress. If you are not confident and prepared, a question like this will make it very obvious to the interviewer. Give a very honest response! If you feel that your performance in the interview is going well: "I believe that this interview has been quite informative and I am happy with my performance. Is there anything that I can clarify for you from this conversation?" Here is an answer example: "I believe that this interview has been quite informative and I am happy with my performance. Is there anything that I can clarify for you from this conversation?" Here is an answer example: "If you feel that your performance in the interview is not going well: "I am not sure if I have been able to portray myself 100% accurately in this interview; although, I am trying my best. If there is anything more that I can clarify for you I would be happy to do so."18. Describe to me a time when you made an error in your current or former position, and the impact your mistake made? How did you correct the error, what did you learn from it? Everyone makes mistakes, and no one is perfect. The interviewer knows that too and is asking this question to see how you handle situations when you make mistakes. Give an example that demonstrates how you took responsibility for your error and fixed it. Also, what you learned from the experience as a result. Sometimes learning from our mistakes allows us to gain some valuable tools. Here is an answer example: "When I worked as a financial services rep, I accidentally double booked two clients for an appointment in one of the time slots. I realized the mistake after I was double checking my calendar and called the clients right away and apologized for my mistake. As a result of this experience, I always made sure to check the time slots on my calendar twice." Here is an answer example: "When starting my current position, I had some struggles with learning Salesforce and let the frustrations get the best of me. I felt like a failure and was ready to give up. Once my boss pulled me aside and reminded me that everyone struggles with brand new technology, I was able to relax. I ended up taking an online course on the program so that I could fast-track my learning and avoid further frustration. What I learned was that only I am responsible for my learning and there are always ways to overcome challenges, if you look for the answers and are prepared to work for them."19. How do you feel about performance incentives? Many people find that performance incentives can be very motivating and yet others find them to cause anxiety. Talk to the interviewer about your feelings regarding performance incentives and how they may or may not affect your work performance. Here is an answer example: "I feel that performance incentives are a great idea. They keep an employee motivated to do a great job and ensure that they are on top of their KPI's. The majority of people are very enthused about being rewarded for their successes." Here is an answer example: "I am prepared to give my best, whether a performance incentive is offered or not. Incentives can be a great idea, but I feel they should not be too simple to achieve. Most sales professionals respond well to a good challenge."20. 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. Here is an answer example: "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." Here is an answer example: "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."21. If you could alter your career path, in any way, what would you change? This question will help the interviewer to understand if you have a long and continued passion for your career. Talk to the interviewer about an alternate career path that you might choose but be sure to keep it related to the position for which you are interviewing. Here is an answer example: "If I could change anything about my career path, I would have stayed in post-secondary studies for longer to upgrade in my field. I feel that this would have given me the advancement I seek now, many years earlier." Here is an answer example: "I believe in looking forward, and not back. Every decision that I have made has brought me here so I would not change a thing."22. PennyMac Loan Services seeks out natural and confident leaders. What leadership qualities do you possess? The interviewer would like to know that you can take on a leadership role even if it is not a formal leadership title that you possess. Everyone has leadership capabilities, whether they come in the form of training a new employee or merely leading by example. Here is an answer example: "I feel that I am good at motivating a team. Last year, I motivated my sales team every day, through small incentives and awards, and we ended up being the top sales team in the company for the year!" Here is an answer example: "Some great qualities of a leader are: - Being someone who people naturally want to follow - Exceptional interpersonal skills - Strong relationship building skills - Taking ownership for the team's errors and mistakes - Excelling at motivating others - Providing kudos to your team - Knowing how to select and hire the right people to join the team - Having a vision for the future These are just a few to get you started! With which qualities do you most identify?"23. How can PennyMac Loan Services 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. Here is an answer example: "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." Here is an answer example: "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."24. Have you ever broken a confidentiality agreement? Companies will have confidentiality agreements for a variety of reasons. These could be to protect their trade secrets or to ensure that you do not bring clients over on the occasion that you leave their company. Talk to the interviewer about your thoughts on confidentiality agreements. Here is an answer example: "I have never, to my knowledge, broken a confidentiality agreement. Despite my reasons for leaving a position, I would never choose to hurt a previous employer in any way." Here is an answer example: "No, I have never broken a confidentiality agreement. I respect my employers, current and past, and highly value being a person of integrity."25. 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. Here is an answer example: "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." Here is an answer example: "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."26. Honesty is of utmost importance to us at PennyMac Loan Services. Have you ever taken the fall for a situation, where it was really not your fault, in order to protect a coworker? Taking the fall for a situation, in order to protect a coworker, is a tricky situation. It can show teamwork but it may not be the most honest thing to do. Talk to the interviewer about your thoughts on taking the fall for something you did not do. Here is an answer example: "I do not believe in 'taking the fall' for people based on protecting them. Transparency is always a good idea and if something went wrong then it needs to be addressed in order to prevent it from happening again. When it comes to clients, I will apologize on behalf of the company for errors. In that case, I will do what it takes to protect the company's reputation." Here is an answer example: "I will always help a well-meaning co-worker to save face when necessary. With that said, I will not lie in order to save a coworker from the consequences of their mistakes."27. Accuracy is important to us at PennyMac Loan Services. Do you always double check or proofread your work? Double checking and proofreading are essential parts of a job well done. Assure the interviewer that you are diligent when it comes to submitting good, clean, work. Here is an answer example: "Spelling and grammatical errors are a pet peeve of mine. I will triple check my work if there is time! I feel that it is imperative to submit error-free work." Here is an answer example: "I do my best to put great work out, at all times. I believe in double checking my work although I must admit that I have fallen victim to the odd mistake like the best of us!"28. PennyMac Loan Services is looking for employees who are dedicated to their clients. How often do you take work home with you? The majority of people will work overtime hours or take work home with them on occasion. Talk to the interviewer about how frequently you take your work home. Here is an answer example: "I make sure to utilize my work hours very efficiently so the only time that I take my work home is when there is an extremely stringent deadline. I would say that, overall, I take my work home maybe twice per month. It's all about being diligent with your time in the office!" Here is an answer example: "I take my work home with me anytime I feel that it will give me an edge over my competition, or benefit my clients."29. When have you shown a willingness to learn a new method or new approach to solving a problem? It is a great skill to have when you can approach a problem in a new way. Discuss with the interviewer your ability to approach a problem using modern methods. Here is an answer example: "When our company came under new management last year many new methods and policies came into place. I was able to learn many new approaches to our challenges in sales and customer management. I quite enjoyed the process." Here is an answer example: "In my current position, I am faced with learning new sales methods and client approaches on a regular basis. I am always the first to embrace these new sales pitches because I truly believe the bigger diversity we can offer our clients, the better."30. There will be great days at PennyMac Loan Services and some days that are tougher to get through. When you suffer a setback, how does that emotionally affect you and your work? Everyone handles the stress and disappointment of setbacks differently. Discuss with the interviewer how you typically cope with delays in the workplace. Here is an answer example: "Experiencing a setback is always disappointing, and can be a bit disheartening, but I understand that it happens from time to time. If I experience a major setback, I will take a few moments to debrief with my manager and discuss what I could have done differently. Then, I move on!" Here is an answer example: "Setbacks are tough, but I truly believe that everything happens for a reason. I am a creative person and will always find a way to recover from a setback."