Bank of Ireland Flashcards
Why the Bank of Ireland?
An aspect of the Bank of Ireland that I admire is the focus on the needs of the customer. Listening to customers is a great way to make them feel valued, something I strongly believe in. I would love the chance to apply my excellent communication skills to making customers feel valued.
Another aspect that motivates me to work for the Bank of Ireland is the focus on working as a team for a common purpose. I enjoy working as a team and find it is the best way to work effectively, by learning from each other. An example of this is my work on the Leeds formula student race team, working in a team of 20 people to design and build a car to be raced at Silverstone.
The focus on being accountable at the Bank of Ireland is another factor that motivates me to work there. I strongly believe that learning from mistakes is key to ensuring success and also retains the trust of clients. The chance to do this at the bank of Ireland and challenge myself to achieve my best work is something I would be excited to do.
The culture of embracing change at the Bank of Ireland is something I believe I would thrive under. I am often most motivated when I experience change, approaching it with an open mind and a can-do attitude. The chance to apply my problem solving skills to develop new and simplified ways to efficiently deliver the best solutions for customers is something I am really motivated to achieve.
A key reason why I want to work for the Bank of Ireland is the dedication to the development of its staff both professionally and personally. I am always eager to learn and develop, so this presents a great opportunity to do this. For example, the Be At Your Best programme is something I would love to get involved with, especially the chance to play 5 a side because believe that a good work life balance is very important.
The CSR programme is another part of working at the Bank of Ireland that excites me as someone who has always been keen to support charities.
Finally I admire the commitment at the Bank of Ireland to reducing the impact that operations have on the environment. The 24% reduction in CO2 emissions since 2011 is particularly positive and I think that it important that all companies take the lead on environmental issues.
Why the graduate corporate banking role?
The rotational nature of the Corporate Banking UK Graduate Programme at the Bank of Ireland is a key draw to the role for me. I am always eager to learn and gain new skills, so the chance rotate across three sector teams over a two year period seems like an ideal opportunity to do this. In particular the in depth industry exposure in each sector rotation is a great opportunity to learn more about specific industries.
The chance to work closely with Senior Corporate Banking managers is something I view as a great learning opportunity to gain skills from experienced colleagues first hand. Supporting them in originating new transactions and managing a portfolio of existing clients are responsibilities that I would be particularly excited to undertake.
Another reason is the opportunity to work with the Bank’s largest and most prestigious privately owned and public listed domestic and international clients operating in across a variety of sectors. As someone who enjoys responsibility and variety this presents an excellent opportunity to develop my communication skills further.
The opportunity to attend client meetings is something I find particularly exciting as someone who enjoys taking on responsibility. I would be eager to apply my excellent communication skills to present my financial analysis.
The emphasis on personalised training and development is on the graduate programme is another key draw for me to the role. I am always looking to reach my full potential and therefore this seems like a great chance to achieve that. The focus on mentorship and receiving targeted internal and external training across a wide area of financial and personal development related subjects is something I would really like to take advantage of.
Why corporate banking?
I naturally enjoy working in a fast paced environment which is why a career in the sector of finance and particularly corporate banking appeals to me.
I also enjoy working with numbers and solving problems, so using a combination of problem solving and numerical skills to help prestigious clients meet their financial needs is something I would be greatly motivated to do.
I believe the aspect of corporate banking I would find most satisfying would be nurturing successful relationships and seeing clients grow and develop over a period of time. I am someone who gains great satisfaction from using my communication skills to build relationships over a long time period.
By helping their clients to grow their businesses, corporate bankers also play an important role in the expansion of the wider economy. This is something I would be really motivated to be a part of as I find the prospect of helping clients grow their businesses really exciting.
Another rewarding factor is the contact with senior figures in client organisations early in the career, which is a fantastic chance to take on responsibility and learn. This is particularly important for me as someone who strives to reach their full potential.
The opportunity as a corporate banker to initially work with businesses from a variety of industries is exciting as I enjoy change and the opportunity to learn. The chance to then specialise in one or two industries is something I would be eager to do.
What is corporate banking?
Corporate bankers provide advice to commercial and private clients about a variety of financial matters and promote financial services, to help these clients run their operations.
Corporate bankers are like retail bankers, but they deal with companies rather than everyday people and their clients range from small and medium sized companies to huge conglomerates.
Services include lending, clearing, investing deposits and organising specialist products as appropriate.
Providing loans is one of the main services that most corporate bankers provide regardless of industry. They are tasked with structuring and arranging the terms of the loan. This could be a single bank providing a secured loan or multiple banks could provide a ‘syndicated loan’, spreading the risk amongst them.
Transaction banking’ is an important sub-set of corporate banking and includes both cash management and trade finance. Cash management involves collecting and managing a company’s cash to ensure its financial stability, managing changes in foreign exchange rates, and offering treasury solutions.
There are three distinct roles within corporate banking.
First, there is relationship building. This concerns the day-to-day contact with a client and involves getting to know their business, making sure that their accounts are running smoothly, anticipating their needs and proactively trying to bring in all areas of the bank.
Second, people working in origination carry out research and marketing to bring new clients on board. Here networking with intermediaries such as accountants is one of the keys to success.
Third, corporate and structured finance focuses on acquisition finance where an equity house is involved. When a new client is identified, the corporate and structured finance team will have a major role in putting the deal together.
