Job Interview Questions Flashcards
Can you describe your experience with developing and maintaining financial models?
In my role at Lawfront Group, I developed financial models for various acquisitions based on discounted cash flows. This involved gathering and validating revenue data by scrutinising assumptions against current client contracts, historical retention/churn rates, and new business forecasts. I also scrutinised cost lines for variables like salaries, OPEX, and CAPEX, identifying potential savings through acquisition synergies or redundant expenses. My findings are presented to the internal M&A executive before going out to the wider management team.
How have you managed the budgeting and forecasting processes in your previous roles?
At FJG, a subsidiary of Lawfront Group, I led the budgeting and forecasting process by analysing historical financial data, assessing group-wide metrics, and collaborating with department heads. Due to an increasing trend in CAPEX outflows, with upcoming software costs for the PMS implementation, I placed a particular focus on CAPEX control, obtaining buy-in from IT and finance for accurate budgeting. This enabled us to develop accurate and realistic budgets aligned with our strategic goals, particularly focusing on improving operational cash flow and EBITDA.
Can you walk me through your approach to conducting investment appraisals?
Usually, with investment appraisals at Lawfront Group, the main focus is on cash generation potential, synergies through untapped revenue streams (e.g., revenue in other law divisions not currently within the group), or cost savings such as leveraging existing group licenses, headcount reduction in underutilised departments, and the overall value a company’s brand can bring.
In terms of calculation methodologies, we primarily focus on discounted cash flow (DCF) and net present value (NPV) methodologies, also considering a target company’s leverage (debt-to-equity ratio) to assess its financial health and any adjustments necessary for it’s valuation.
How do you ensure the accuracy and timeliness of financial reports?
To ensure the accuracy and timeliness of my work, I utilise a series of checks in all my reports. This also includes leveraging automation for repetitive data-heavy tasks with tools like PowerQuery. Data validation is also important, so I cross-check information from various sources when possible and maintain clear documentation trails throughout the process. Finally, by establishing clear deadlines, I consistently deliver timely reports that accurately reflect the company’s financial health
Can you discuss a significant project you led or were heavily involved in and the outcomes?
A significant project I led was the implementation of Business Central at Lawfront Group as I had prior experience with the Microsoft Dynamics platform’s interface.
This involved coordinating with various departments to understand their financial reporting needs, developing a comprehensive chart of accounts, and training staff on the new system.
The outcome was a streamlined reporting process that provided more granular financial insights and improved decision-making across the organisation.
Describe your experience with advanced Excel functions and financial modelling standards
I have extensive experience with advanced Excel functions such as VLOOKUP, XLOOKUP, SUMIFS, INDEX & MATCH, INDIRECT and PowerQuery.
At Lawfront Group, I’ve applied these skills to create complex financial models for budgeting, forecasting, and investment appraisal.
How do you approach building relationships with cross-functional teams and stakeholders?
Building strong relationships with cross-functional teams is essential for effective business partnering. At Lawfront Group, I regularly met with department heads of subsidiaries to understand their challenges and needs from a financial perspective.
This approach helped me provide tailored financial insights such as analysing team performance based on various metrics such as fees, time recording, WIP recovery etc that supported their strategic objectives, ultimately driving improved business performance.
Can you describe your leadership style and how you manage and develop your team?
My leadership style is collaborative and supportive. I believe in providing clear guidance and empowering my team to take ownership of their work. At FJG, I conducted regular performance reviews and provided continuous feedback to help team members develop their skills.
Can you give an example of how you explained a complex financial issue to non-financial stakeholders?
At Global Knowledge UK, I often had to explain complex financial concepts to non-financial stakeholders like programme managers and business development managers. For instance, when discussing the profitability of apprenticeship programs, I used visual aids like charts and simplified the technical jargon. By focusing on the key financial metrics that directly impacted their decisions, I ensured they fully understood the implications and could make informed choices.
How have you contributed to process improvements in your previous roles?
At Lawfront Group, I streamlined the way revenue and gross profit by department was assessed. This was done by ascertaining the departmental split by both product type and individual to allow more flexible analysis depending on the view needed.
At iHasco, I identified inefficiencies in our revenue reconciliation and report process and automated the vast majority of the process, particularly with multi year contracts and their relevant apportionments to current year revenue.
