Technical Interview Questions For Financial Analyst – Financial Analyst Interview Questions and Tips **UPDATE: Note: Check out Peter Dunkart’s new seminar videos here: Ace The Financial Analyst Interview Success Seminar: https://www.youtube.com/watch?v=HixdCw7STuE I…
I found a very informative video about interviews with financial analysts. In this video, a senior financial analyst at a Fortune 100 company shares some tips and goes into some questions and answers for Financial Analyst Interviews.
Technical Interview Questions For Financial Analyst
The transcribed video begins here: Hi Peter here from FinancialAnalystInterview.com, if you are watching this then you are part of the Ace Your Financial Analyst Interview program that I created.
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Being a financial analyst can be a very rewarding career, but getting a job can be a difficult process. Trust me, I know – I’ve been rejected from numerous financial analyst positions simply because I didn’t know how to prepare for an interview.
In this video, I’ll walk you through some potential financial analyst interview questions you might be asked and review the key competencies the hiring manager is looking for.
I also want to take this moment to congratulate you for being one step ahead of all the other candidates who are probably sitting at home confused and scouring the internet for information that may or may not be relevant to an interview with a financial analyst.
One of the most important financial analyst interview questions that I ask every candidate I interview is:
Is A Finance Analyst A Good Job?
Give me an example of a problem you faced at work and tell me how you solved it?
This is a problem-solving question that tests your critical thinking skills. This is a great question that shows that you are creative and able to solve problems. I covered this question in detail on page 23 of the Ace your Financial Analyst Interview guide. But here is how I would answer that:
“That’s a great question. At my last job, I often had outstanding invoices that would reduce my accounts receivable. I was responsible for sending weekly revenue reports to my VP and we regularly made many important decisions based on those reports, so it was extremely important that my reports be as accurate as possible. First and foremost, I always made sure I had a great relationship with my account managers, so I always knew I could write a quick email or make a quick call and the account managers would help me with my client payment issues. Also, I would thoroughly research the issue so that I have all my “ducks in a row” before I start asking questions and taking up other people’s time. I would initially try to solve the problem myself with the information available to me. Also, I would start doing reports on Wednesdays. That way I was sure I would have enough time to get to the bottom of things in case any problems arose. In this way, I was able to solve the frequent problem of accounting differences.”
During your financial analyst interview, you may be asked some questions related to what you will be doing in the role. For example:
Financial Analyst Interview Questions (with Sample Answers)
What do you know about analysis of variance? and tell me about a time when you used analysis of variance to reach a conclusion
Here, the hiring manager doesn’t care that you can talk for 20 minutes about defining variance analysis. This is just a prelude to the ultimate question, which is give me an example of how you used analysis of variance to reach your conclusion. BEWARE, don’t start rambling – it’s extremely important that you give a structured response. I reviewed the Winning Interview Combo secret to doing this on page 10 of the Financial Analyst Interview Guide. For this question it is important to identify the problem; discuss analysis of variance, its cause and effect, and proposed corrective action. Here’s how I would answer that:
“Variance analysis is performance evaluation using variances, the timely reporting of which increases the opportunity for corrective actions. FOR EXAMPLE, in my previous role as a “Y Analyst” I conducted a variance analysis of our sales figures to determine the cause of our poor performance in the previous quarter. I analyzed all sales drivers and compared them to their budget requirements and their values in the same profitable quarter of the previous year. During due process, I realized that the marketing department had a positive variance of “X dollars”, meaning they did not spend their entire marketing budget. This was good news for marketing managers because they got a bonus tied to the amount of money they saved, but it resulted in lower sales values. We fixed this problem by tying CMO bonuses to sales numbers. As a result, our sales figures increased in the following quarter and my manager was very pleased with my contribution to this project.
I reviewed this question and questions like these on pages 16 and 17. It would be helpful to review those pages so you know exactly how to structure your answer to really achieve the competencies the hiring manager is looking for.
Finance Interview Questions And Answers
On page 7, I turn to one of the most fundamental aspects of financial analyst interview success, which are the key competencies you must master to make sure you get the job offer.
Financial analysts are an integral part of any organization’s team. Therefore, it is imperative that the manager knows that they can count on you to meet deadlines.
So you have to show that you can handle the mental intensity and hard work required to get the job done. More importantly, include in your answers the high tempo and speed at which you work and your endurance capacity. Show that you invest the time and energy needed to get the job done right the first time.
See page 20 of the Financial Analyst Interview book where I provide a great example of an answer you can use in your interview.
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This is your ability to visualize, articulate and solve complex and uncomplicated problems and concepts, and make decisions based on available information. As a financial analyst, you will need to create forecasts to determine certain future conclusions. To do this, you will need to use assumptions that must be logical and reasonable. Therefore, it is imperative that you demonstrate analytical ability during the interview. I reviewed the forecasting question that demonstrates analytical ability on page 19 of the Financial Analyst Interview book, also make sure you review the Technical Preparation Binder that comes with this course.
Commitment is essentially your ability to be dedicated to your work. You should demonstrate a strong belief in what you are doing or what you want to do.
Prove that you are ready to make sacrifices for people, for work and for the company when it is appropriate because you are a dedicated person.
Demonstrate strong accountability not only to the hiring manager and the company, but more importantly to customers and clients.
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You can show commitment by talking about times you went above and beyond the call of duty. Hiring a financial analyst is an important decision for any organization. Financial analysts are key to making informed decisions for a company. Their primary role is to turn financial statements into reports and give management and key stakeholders insight into the current state of the business. And investments to achieve financial returns in the future.
Therefore, you cannot negotiate with the right person because a mistake in hiring can negatively affect the further strategy of the company. In this article, we bring you some questions you should ask if you are planning to hire a financial analyst.
This is the most predictable question of all. Even the candidate will expect this from the examiner. The reason it is popular is because of its goal. The goal of the question is to find out how much information the candidate knows about the company. It can also reveal how they fit into the scope of the organization. Reciting the core value or when the company started operations are hallmarks of a good answer.
A more appropriate response will see the candidate recite the core values and relate them to why they want to work for the company. Some might use examples of how they fit. And others could go the extra mile by recounting how they connected with a message from key personnel in the company. A quick tip is to pay attention to their body language. One can be an excellent speaker, but the body does not lie.
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Asking this question gives you insight into the candidate’s mind. This question will show whether the candidate likes what he does. The answer should be ambitious, passionate and yearning to find fulfillment in the role. You may get answers related to what sparked the passion and desire in the first place.
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