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Scotia iTrade Corp. 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 tools of the trade do you find most useful in your work as a Trader?

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Scotia iTrade Corp. Interview Questions

  1. 1.

    What tools of the trade do you find most useful in your work as a Trader?

      As part of your interview for the Trader position with Scotia iTrade., your interviewer will be looking to get a sense that you are very resourceful in your approach to studying the market and other assets so their clients can benefit the most from your approach to trading. As you answer this question, try to be as diverse as possible as you talk about your approach to gaining insightful information that will best suit your clients. Make sure that your interviewer walks away knowing that you know and enjoy the Wall Street Journal just as much as you enjoy different websites and software available to you in your work.

      Ryan's Answer

      "I pride myself in saying that my career is my passion and this started at a young age back in a high school economics class. Since that year, I've subscribed to an read publications like the Wall Street Journal, Money Magazine and Barron's. All of these publications still help me to this day to stay on top of my game in the trading business. I also don't hesitate to utilize some of the more reputable online and software programs. Elite Trader and Daily Stocks are great sites that I check daily for new industry news. As well, I'm very proficient in my use of Matlab to analyze market data for use in buying and selling stocks."

  2. 2.

    How long will it take you to make a meaningful contribution to our team at Scotia iTrade.?

      If you were to be the successful candidate with Scotia iTrade., when do you expect to make a viable contribution to the organization? Talk to the interviewer about your plan to make a fast impact.

      Ryan's Answer #1

      "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."

      Ryan's Answer #2

      "My plan, if hired by Scotia iTrade., 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."

  3. 3.

    If you joined the team here at Scotia iTrade., 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."

  4. 4.

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

      As the forward facing client services representative with Scotia iTrade., you may be asked serious financial or market related questions that either don't know or aren't qualified to answer. In those situations, you will be expected to explain to the customer how that question will be answered and then deliver a timeline on when it can be answered. In the end, the customer wants to know the clear path to ease their mind and it will be your job to do just that.

      Ryan's Answer #1

      "In my current role in Customer Service with Metropolis' largest automotive dealership, I frequently get asked questions that our sales, finance and service staff have to give the final stamp of approval on in answering customers questions. In these situations, I have a great amount of knowledge where I can prepare the customer for speaking with the right person while also ensuring them that the sales, finance or service staff will provide the final answer. Then, I work quickly to get them to the right person."

      Ryan's Answer #2

      "In a situation where I didn't know an answer, I would ensure the client that we have the right staff in place that would be able to help them quickly and efficiently. I would communicate to the customer what the next step would be and if that would be me putting them directly in contact with someone or me taking their contact information and having someone get back to them. In the end, setting the right course and timeline would be important for every customer when I faced this situation."

  5. 5.

    If hired to this role here at Scotia iTrade., 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 Scotia iTrade.. 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 Scotia iTrade. 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."

  6. 6.

    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.

      Ryan's Answer #1

      "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."

      Ryan's Answer #2

      "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."

  7. 7.

    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."

  8. 8.

    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!

      Ryan's Answer #1

      "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."

      Ryan's Answer #2

      "Here are some other great keywords you could use:

      - Encouraging
      - Caring
      - Knowledgeable
      - Reliable
      - Focused
      - Honest
      - Assertive
      - Tenacious
      - Motivated
      - Ambitions
      - Conscientious"

  9. 9.

    We want our advising team at Scotia iTrade. to be happy and healthy. How do you manage the day to day stress of being a financial advisor?

      The daily stressors of a career in financial advising can be burdensome, overwhelming and lead to burnout on the job. To get a sense that you can handle stress in a safe and healthy manner and be able to come to work each day with a clean slate, your interviewer is looking to delve into your personal life a bit to see how you manage stress. When answering, you can certainly talk about the things you do on the job to keep as stress free as possible, but also be sure to talk about the things that you do outside of work to avoid burnout. Point out that you have the resources and ability to care for yourself to keep you at the top of your game on the job.

      Ryan's Answer #1

      "To begin with on the job, I consider myself very excellent at handling stress. Being a goal oriented person, I find happiness in obtaining goals and consider any necessary stresses in pursuit of a goal healthy. Outside of work, I am a very active person that trains for marathons and spends a lot of time outdoors with my family. I find that these activities help cleanse my mind and heal my body to prepare for a new week on the job."

      Ryan's Answer #2

      "When I maintain a healthy diet, exercise regularly and spend as much time as possible outside of work with my children, any unnecessary work stresses are put on the back burner and often relieved immediately. I'm a firm believer in a healthy work-life balance, even though it can be very tough to do in our field. Having the ability to answer a client email or phone call during off hours while unwinding has made our work lives better as well."

  10. 10.

    If hired for this role at Scotia iTrade., how would you help make sound investment decisions for our clients?

      While certainly an open ended question for you to run with, your interviewer is really looking to get a sense that you are resourceful in your decision making processes and that you don't rely too heavy on quantitative or qualitative information to make decisions. In your answer, talk about the sound use of data while also relying on your experience and judgement to help in your decision making processes. As well, if you are open and experienced in a team based approach among fellow colleagues, talk about that as well.

      Ryan's Answer #1

      "In my current role, we have a great team that considers many factors in our investment decisions for our clients. Our engineers have developed mathematical models that gauge the markets and their propensity to shift over time. We have a team of market experts that rely on the new and current times to predict future fluctuations. As the Portfolio Managers, we weigh information from all of these teams to make decisions moving forward and this allows for the greatest confidence in our overall decisions."

      Ryan's Answer #2

      "While all of our decisions for our clients are based on assumptions, my experience has taught me to weigh in many different factors when making investment decisions. Looking at historical data to predict futures carries some weight and can be accurate at times, but having firsthand knowledge of different businesses and industries like I do helps put that historical data into perspective when trying to predict the future. If hired for this position at Scotia iTrade., I'll have that ability to make the best decisions possible for your clients."

  11. 11.

    If I were to hand you $100,000 to invest today, where would you put that money and why?

      As a simple tool to gauge how you will both satisfy clients and make a profit for Scotia iTrade., your interviewer is looking to hear how you would invest money right now if given the chance. While there is no right or wrong answer for this question, show them your knowledge of breaking up assets based on age if possible. As well, don't hesitate to call out your knowledge of specifically allocating funds into different sectors or individual businesses or industries. In the end, make sure to give a full explanation of why you are choosing what you are to sell it to your interviewer.

      Ryan's Answer #1

      "If the money was given personally to me to invest for myself, I would go for a 50-50 split between stocks and bonds being that I'm 37 years old. This would provide a good mix of funds that could be placed into aggressive IT and healthcare type stocks with a lot of growth potential while keeping half safe in the bonds market."

      Ryan's Answer #2

      "Being that I am young and willing to wisely be aggressive with money invested for myself, I would look for gems in certain industries like social media and internet retail sales. Amazon is expected to see prosperous growth and so are places like Pinterest and Facebook. I'd be wise with these investments while being sure to pay close attention to futures forecasts as those could change quickly, meaning a shift in my direction as well."

  12. 12.

    What types of compensation structures have you worked under in the past and do you have any expectations for this role with Scotia iTrade.?

      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 Scotia iTrade. 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 Scotia iTrade..

      Ryan's Answer #1

      "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."

      Ryan's Answer #2

      "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?"

  13. 13.

    Here at Scotia iTrade., we are expecting someone with strong leadership skills to take this role. How would you describe your management style?

      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 Scotia iTrade.. Your answer should also involve solid research into the culture of Scotia iTrade. 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.

      Ryan's Answer #1

      "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 Scotia iTrade., you can be assured that my promotion of a team based atmosphere would help achieve even higher goals than you have set right now."

      Ryan's Answer #2

      "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."

  14. 14.

    One huge philosophy that we believe in at Scotia iTrade. is professional development. How have you worked to develop yourself professionally throughout your career?

      In an ever-changing field like financial services, Scotia iTrade. 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."

  15. 15.

    At Scotia iTrade., we expect our advisors to be available to speak with clients in person, over the phone and through email. What are your experiences in working with clients through different communication methods?

      Customer interaction is the name of the game at Scotia iTrade. as they rely on excellent customer to service to retain and grow their client base in a cutthroat market. For this question, your interviewer is looking to get a sense of how you use your communication skills to your advantage in your work and how those skills will benefit Scotia iTrade.. As you answer and talk about your experiences in communication methods, try to show that you thrive on client interactions and have the ability to be both persuasive and trusted with those interactions.

      Ryan's Answer #1

      "Looking back on my career, I can honestly say that success as an Advisor is really due to my passion for finance and my desire for interactions with other people. Being a people person at heart, I love working with clients in any way possible. My communication style with clients is to get to personally know them so I can relate my advising to them personally. While I definitely prefer to interact with my clients face-to-face, I do have a lot of experience communicating both over the phone and email as well. If hired for this position, you'll see very quickly that I have excellent writing skills."

      Ryan's Answer #2

      "As you can see from my resume, I have taken advanced training courses in public speaking and written communication to help further me in this career field. In my early days in finance and making the move to financial advising, communication skills were my area that needed the most professional development. Today, I am confident in my abilities to work one on one with clients directly in person, over the phone or through email and have experience handling clients in all three ways. In my current role, I'd estimate that over 50% of my interactions are through email with the remaining interactions split between face-to-face meetings and phone calls."

  16. 16.

    Take a couple of minutes to sell this notepad to me.

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  17. 17.

    When would an investment in commodities make sense for a client that you were working with?

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  18. 18.

    We pride ourselves on our interdepartmental teamwork here at Scotia iTrade.. If hired for this role, what kind of team player could we expect you to be?

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  19. 19.

    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?

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  20. 20.

    Scotia iTrade. 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?

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  21. 21.

    Our clients here at Scotia iTrade. 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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  22. 22.

    The day-to-day life at Scotia iTrade. 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?

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  23. 23.

    As a Trader with Scotia iTrade., you will be trusted to take a very diverse approach with our clients. How would you explain the limitations of using solely a P/E Ratio approach to purchasing stock to a client?

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  24. 24.

    At Scotia iTrade., we pride ourselves on providing the best overall customer experience. Talk about your customer service experience and explain why it will help our clients here.

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  25. 25.

    Why would our clients here at Scotia iTrade. want you to be their financial advisor?

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  26. 26.

    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?

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  27. 27.

    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?

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