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“Citi Bank related Frequently Asked Questions by expert members with job experience as Citi Bank. These questions and answers will help you strengthen your technical skills, prepare for the new job interview and quickly revise your concepts”

29 Citi Bank Questions And Answers

1⟩ Explain me about a situation where you had to deal with an angry customer?

Customer service skills are essential for any frontline banking job. Your example should display good listening skills, the ability to clarify the customer's needs and to respond with patience and empathy.

Show how you develop positive customer relationships by trying to meet the customer's expectations and taking responsibility for the customer's satisfaction.


3⟩ Please explain what was the work environment like?

Well it was really good. They are really flexible. They offer working from home which is really good. They offer to handle different schedules. For example, from 9 to 5, from 9 to 6. You don’t have to have exact schedule. They are really flexible with the hours and also work from home which is something that many people like.


5⟩ Do you know our business model?

Banks provide their clients with advice, assistance in arranging financing, and other services, such as access to trading on the markets, investment management, and risk reduction. Their main source of revenue is the fees they charge their clients for these services.

Some banks have departments which invest or trade the bank's own money to generate returns, though the extent to which they can do so has become more limited in recent years.


6⟩ Tell me why do you think you're suited to a career in investment banking?

As you're interested in a career in banking, plenty of reasons should spring to mind, and if they don't you should consider choosing another path!

Often students are attracted to the intellectual challenges and high-profile nature of the dealings of the finance world, the fast pace of the work here, and the rewards on offer, all of which are very valid reasons for applying to a bank.

But they're also valid reasons for applying for jobs in other parts of the finance world, so make sure you explain why you want a job at a bank, and in your chosen area in particular. Perhaps you're keen for the broad and deep financial training and prestigious experience that only a leading bank can offer?

Your interviewers may also ask if anything puts you off banking. If you have any real doubts, an interview is not the place to air them, but it's a great idea to show that you've considered the difficulties the industry is currently going through before choosing to make an application.


7⟩ Explain me your views about the changes in Banking Scenario?

Banking sector has successfully been adding new products and innovative services to its basket of products being offered to retail customer and institutional customers. I think the banking sector will keep its goal to accelerate the growth. Secondly each bank would like to optimize its costs of marketing and distribution so as to keep its overheads low without effecting its reach or quality of services.

With regards to changes, I feel that there would be marketing strategy which would be “socially engaging”. The leading banks would adopt “Intelligent Multichannel” approach over their brick and mortar branch banking.


8⟩ Explain me how do you check your work for accuracy?

In asking bank interview questions about your attention to detail and accuracy the interviewer wants to know if you are able to accurately carry out your tasks with close attention to all aspects of your work.

Provide specific examples of how you check your outputs for accuracy and completeness and what you do if you find a mistake.


9⟩ Explain me about a time when you were under immense pressure?

My example was from a previous experience where the firm was on the brink of making massive losses due to delay in supply of raw materials from suppliers but my pro-activeness and leadership ability helped salvage the situation. I stayed close to the supplier’s factory, which was 600 kilometers away, for close to 2 weeks to ensure that our firm’s goods were given high priority. Afterwards, I re-planned the project from that situation to ensure timely delivery and prevented order cancellation from the client.


10⟩ Please explain me your job title and primary duties?

I worked as a financial analyst. My duties were to reconcile accounts, implement annual systems, review accounts. In the implementation of the system we have to deal with many global customers. We have to do reports, provide a kind of customer service to them and also liaise between the technology department and the operation departments.


11⟩ Tell us what are the advantages and the disadvantages of equity finance and debt finance to a company raising finance and investors?

The advantage of equity finance for a company - raising money by selling shares - is that this money does not have to be repaid. However, new shareholders usually get to have a say in how the company is run.

Despite these rights, equity is often seen as a risky choice for investors as they will lose all their money if the company doesn't prosper. If it does well, on the other hand, they may see their stake multiply in value many times over.

Debt finance - money raised through loans - must be repaid eventually by a company, usually with interest, but lenders won't be able to exert as much influence as shareholders over how the company does business.

The debt of a reliable company is usually seen as a safe investment, but fixed repayment schedules means that there are few opportunities for large returns.


12⟩ How to implement these changes by the Banks, what are your recommendations?

Banking sector has to achieve competitive differentiation; banks must define a clear strategy and customer proposition, and then develop the capabilities to reach these goals. Accenture recommends that banks should:

Establish an overall strategy that includes the appropriate capability mix and investment choices.

Develop an appropriate sourcing strategy to enable scale and deliver required capabilities at higher speed.

By following this next-generation approach, banks can position for growth, improve performance and achieve a competitive advantage—in the near- and long-term.


13⟩ Tell me in the changing Banking Scenario, what are the most important needs of the Banking Industry?

We are living in a digital age, where everyday technological innovations our style of living, doing the business and even the way we do a commercial transaction. The banks will have to catch up and offer

(a) Multi Channel Optimization

(b) Digital Distribution and most importantly

(c) Effective Sales Efforts.


14⟩ Explain me about a time you felt pressured by conflicting work demands, how did you respond?

Staying calm under pressure is a key requirement of working in the front line of a bank. Your ability to maintain performance under stress and to use appropriate coping techniques should be demonstrated.

Discuss the resources you use to meet the different work demands including prioritizing, planning, scheduling and asking for assistance when appropriate.


15⟩ Tell me what do you think will be the emerging trends in consumer banking (yes, I was asked this in an investment banking interview)?

My perception is that there will be two different noticeable trends. In developed nations, the trend will be more towards digitization of products using mobile technology based on the tech savvy new generation that is emerging. In the developing nations, traditional banking will be more prevalent but will be highly volume based because every year more and more people are entering the middle-class bracket and can afford banking products.


16⟩ Explain me about a time you saw a co-worker do something that you didn't think was appropriate. What did you do?

Integrity and honesty are core to a banking job. Focus on taking immediate action and using the right resources to deal with the problem. Emphasize your commitment to adhering to company policies and regulations. Your judgment is also under scrutiny here so describe your motivation to take action.


17⟩ Explain me what have you learned from your studies that can be applied to a career in investment banking?

You might initially think that if you haven't done a degree in finance or economics you haven't got very much to offer an investment bank, but you'd be wrong.

Any numerate discipline will have given you a mathematical toolkit that will come in useful in technical banking work, and any good degree proves that you're intelligent, hardworking, and effective under pressure.

Extra-curricular activities may have given you a wealth of other skills that are valuable at an investment bank, such as being able to juggle a number of commitments and work with others.


19⟩ Explain me what opportunities does a financial downturn present to financiers?

In a market where the value of assets is falling, known as a bear market, traders might consider taking short positions, that is, borrowing assets they don't own, selling them, and buying them back to return them at a later date when their price has fallen.

Meanwhile, those working in asset management or M&A might consider, or advise clients to consider, snapping up undervalued assets.


20⟩ Tell me after doing your Engineering in Computer Science, why do you wish to make a career in Banking?

Banking sector has evolved tremendously in the recent past. Banks are no more offering banking services through its branches. Because of a number of products and services being offered by the banks, the bank has reached the home and office of its customers. For example, use of ATM has allowed the customer draw cash from any machine 24 x 7. Similarly mobile banking allows the customers to view the balance and also do the transactions on the go. Hence technology is the need of the day as modern banking rides on IT and future banking will need more of technology.

Also banks need interactive websites and mobile banking which are fast and secure. Marketing of Banking operations now use large social media platforms.

For such highly evolved and booming industry, there is a growing need for tech savvy and enthusiastic professional with strong interpersonal skills. I am happy to say that I match the ideal candidate’s profile very well.