Standard Questions Flashcards
1
Q
Tell me about yourself
A
- I am A-Level student at LGS studying Maths, Further Maths, and Economics
- From a younger age of 15 I have been working various jobs such as being sports coach, a concierge, and a tutor - the structure of working and being able to apply my knowledge to help others greatly appealed to me
- The variety of jobs I worked in enabled me to pick up a wide range of skills at an early age, which have built a strong career foundation for me - as a result of these experiences, I am someone who is very teachable and trainable as there is many different procedures and protocols I had to understand
- During my time in Y12 I undertook a work experience programme at a Wealth Management firm under SJP
- Here, I gained exposure to asset allocation and the intertwinement of real world macroeconomic trends and client advisory - deepened my interest in such matters and bought me to FIC as this link was also prominent in FIC
2
Q
Why Deutsche Bank?
A
- For me, Deutsche Bank are a significant driver of positive social and economic change
- I listened to the first episode the ‘This is Deutsche Bank’ podcast, where Sewing speaks about Germany’s new government reforming the ‘debt brake’ which limits government spending
- Sewing put forward a plea for structural reforms and not just this - this highlights to me that DB are a key player in driving economic growth - I found this inspiring
- DB was the first global bank to establish a socially motivated microfinance fund more than two decades ago - they do not do it to realise financial gains but to support LEDCs
- Furthermore, DB encourage positive social change via ‘Made for Good’ to encourage entrepreneurship - they helped start ‘Hot Bread Kitchen’ in New York who offer culinary training for low-income, immigrant and minority women who are then given full time bakery positions - one of many amazing opportunities provided by DB
- Spoke to Ricardo, a current first year FIC apprentice, and he told me about the how DB’s programmes allows apprentices to gain an insight into different roles within FIC e.g. direct lending within financing - when desks open up they can take apprentices allowing for you to gain a wider range of experiences and learn more
- Being able to work in the London office is also amazing opportunity for me because of their international reach due to the GMT time zone - mornings for Asian markets and afternoons for New York - enhances liquidity + ability to respond swiftly to global market events
3
Q
Why have you chosen to do an apprenticeship?
A
- I am someone who likes to learn hands on and see how my work actually applies to the real world - I have always had a keen interest in the real-life applications of my academic studies - the idea of learning something knowing I would be able to apply this at my job is very motivating (I can help my company and my team) e.g. one thing I am interested in from the QMUL modules is valuation - I am interested in learning more about the process involved in determining the value of an asset
- I am extremely attracted to the opportunity of being able to learn from an experienced environment of industry professionals and then be able to apply this knowledge to improve client results - more applicable than other uni degree programmes
- Also into the idea of fast-paced, intellectually stimulating work which I believe an apprenticeship in FIC can provide - I love to challenge myself and push my limits to constantly improve
- For me, this apprenticeship is a unique opportunity - there is not another firm that offer a FIC programme like this
4
Q
What motivates you?
A
- Understanding that I am accountable for my own actions and if I have failed at something, it is most likely because I did not put in the work or I was not prepared enough for it - I am very results driven
- Keeping my goals in mind is a big motivator for me - reference to no of days until A-Levels whiteboard (makes sure I am not complacent) - I believe that when people forget their goals and why they are doing something, they tend to lose their passion and drive
- I have a growth mindset - I believe your first time doing anything will not really be great e.g. your first run, first time studying a new topic - this is my biggest takeaway from my range of experiences - these experiences have allowed me to develop this growth mindset and has ignited my drive to seek consistent improvement in everything I do - I firmly believe that growth is a product of failure
- Failure motivates me
- My experiences have allowed me understand the concept of delayed gratification
- Motivated by working in a team and coordinating with others who have a variety of skill sets in order to produce an end result e.g. in IBs when you have some people doing market research and some people making the trades and dealing with clients
5
Q
How do you manage your time?
A
- I make sure I have a clear understanding of what my priorities are and I plan accordingly so I make sure I know what tasks need to be done on what day - I utilise strict deadlines and do not procrastinate e.g. if I have homework that is due in 5 days I will get it done within the next 2 days so I am prepared for any unexpected changes (I am prepared for things to not go as planned)
- I utilise a to-do list
- Another thing I believe is important for time management is efficiency - when actually doing the task I do my best to ensure I am fully focused and not distracted
- I like to keep a clear head by exercising or meditating at times as I find myself to be more productive after - this reduces brain fog and I find it to help
- If I am particularly busty, I do not waste time by lingering or being unproductive - this is usually not the case as I am driven and motivated by the work I do
6
Q
How do you ensure you deliver quality?
A
- I make sure I have a thorough understanding of the task at hand before make any big decisions - this can entail asking others about their experience of it or researching about it - I believe producing quality work involves an element of strategy
- I take pride and responsibility for my work - I wouldn’t want poor quality work to be associated with me
- I react swiftly to any changes - e.g. to client demands - I try to show initiative so they receive the best client experience such as providing certain equipment I know they specifically use
- I possess a strong attention to detail so I make sure there is no silly errors and check over my work
7
Q
What are the 3 most important characteristics for this role in your opinion?
A
- Communication as it is a necessity to be able to learn from others and present your own ideas in a respectful manner - important to present yourself as open minded and welcoming to colleagues (everyone working to achieve a common goal of success for DB) - you will regularly be in contact with other departments including O&A and therefore must be a confident communicator to ensure efficiency during interdepartmental projects
- Resilience - there seems to be a lot of procedures and complicated processes to learn and become fluent in - e.g. utilising coding skills to develop models used to price bonds may require numerous efforts - it may be easy to give up upon hardship but resilience is absolutely necessary to see through the hard times and come out as a more skilled employee as well as for personal/mental development
- Being curious and proactive - important to keep on top of what is going on in the economy and in politics as it seems to be heavily intertwined with the work done in FIC - important to regularly self-reflect and look at ways in which you can improve - have done this in the past by going through my mistakes from tests and re-reading essays, fixating on my mistakes
8
Q
Give me an example of a time you solved a problem
A
- Had entered the royal economist essay competition as part of a group of 4 students
- We had to to write an essay on the gig economy and what its future would may entail
- It was a busy time for all of us as we all had different commitments and it clashed with some of our mock exams
- I decided that for the collaborative parts I could ask a teacher at our school if we would be allowed to use a private room during lunchtimes and we were able to collaborate here instead of online which we thought it would
- Turned out to be a lot better quality - the essay did not win but we managed to gain an interesting insight into the gig economy
9
Q
Give an example of a time you have demonstrated persuasive communication skills
A
- Economics open day
- Had to explain to parents and prospective A-Level economics students why economics is a good subject and why they should take it
- Told them about how applicable it is to real life and the necessity of having a basic understanding of economics
- I followed through by offering further advice to students who had any questions about the subject and made sure they knew my school email address in case they came up with any other questions due to the time pressured nature of the day
- Result was a record number of students (3 classes) in the following cohort of economics students - it was the second most subscribed to subject in my school
- I took away from this experience that is important to relate to others and speak about topics in which you have a common understanding of e.g. it would not have been reasonable for me to try and go through advanced parts of the curriculum
10
Q
Personal experience you can link to this role
A
- I have an interest in watches and I buy and sell watches for a profit
- This ensures that I have a strong understanding of the true value of a watch on the market and what kind of price I can sell it for
- I therefore negotiate with sellers on online platforms to find a good deal for a watch by sending offers below the market price
- Once I receive the watch I do quality check, take good photos, and resell it for a profit
- I would say this is similar to market making
- Really interesting to me as it shows the value of having an understanding of a market and being well-informed
- Also taught me that patience is important as sometimes items take longer to sell and it would be easy to discount the price but it appears to be beneficial to wait it out
11
Q
How do you deal with failure?
A
- I use failure as an opportunity to reflect and improve
- It can be easy to let failure get to you mentally but I always try to assess the situation I’m in and see how I can move past it and be better in the future
- Had a lot of experience with failure as an athlete but it has allowed me to develop into a more skilled athlete
- Used to play a lot of chess and the most important part in improving my elo was going through my past games and analysing them step by step (The Sicilian Defence was my favourite opening)
12
Q
Tell me about a time when you faced a challenging project. How did you handle it? (Counts for time you had to overcome something difficult)
A
- Organising and presenting as leader of my schools economics society
- Led a presentation on rational choice theory
- The project involved me researching & understanding the content, looking at ways to describe it using real world examples, finding a game to make it engaging rather than just a dull presentation, and rehearsing my presentation
- Dollar auction game used - shows how what may appear rational in the short-term can lead to long-term irrational decisions
- I handled it by splitting up the whole project into sub-sections to complete, showing a genuine interest in my work and researching extensively - I found it was better to do too much and cut down to the right amount than to not do enough and be underprepared - this way I was able to answer questions on the topic in detail
13
Q
A time you displayed leadership abilities? / Influenced others to achieve a common goal
A
- Samsung insight day at Chertsey for my business cohort
- Had to design an app and pitch it to investors in order to help meet Samsung’s ESG targets
- I stepped up within my group as there was a lack of direction and volunteered to be group leader, put forward an idea for an app in which parts of Samsung’s phone could be recycled for rewards
- Successfully delegated tasks according to each team members skill sets
- Led the pitch to investors and won the group project
- Allowed me to appreciate the power of a coordinated and driven team
- To influence my team into allowing me to lead, I told them about my past experiences leading in sports and spoke with confidence
14
Q
What steps would you take to ensure a project is completed on time?
A
- Have a clear plan tailored to the deadline, allowing time for human error
- Understand which tasks are a priority and need to be done first as e.g. other tasks may rely on it
- Working with efficiency
- Set clear expectations for each day/hour to track progress
- Be ready to adapt to change e.g. losing a member of the team
15
Q
Why FIC?
A
- The objective nature of FIC appeals to me, as well as the accountability involved
- The dynamic nature of S&T - hot desks are always changing, new technology is being introduced, and new regulations are being conformed to
- For me, financial markets are the backbone of our economy and the living standards of people rely on these markets - they support governments in financing infrastructure and social welfare projects, they support businesses to get through times of economic hardships and help them fund expansion leading to job creation and consumer welfare - I have to come to understand through my research the value FIC adds to the world around us
- Stems from my interest in macroeconomics and macro news e.g. trumps tariffs and their impacts on how countries behave
- This makes FIC appeal to me as it is heavily related to macro news such as interest rate shifts and inflationary pressures - these are things that impact economies on a global level so I believe the work done in FIC is incredibly significant
- I also enjoy working with statistics and numbers, and making strategic decisions - stems from my passion for maths from a young age - I still have a deep interest for maths and its financial applications hence my university applications to maths with finance/economics
- My reason for liking strategy comes from being into competitive sports from a young age and being into games like chess
- I see FIC as an opportunity to combine analytical abilities with real world economic events while learning from highly experienced and talented individuals at an industry leading bank
16
Q
Impacts of Trumps tariffs on FIC
A
- One example is the 25% tariffs imported on the UK on all steel and aluminium imports
- May mean less demand for British imports and therefore less demand for GBP, leading to currency depreciation
- Could change how FIC department behaves in FX markets
- Also likely to lead to some form of retaliation, leading to further volatility
17
Q
What is a weakness of yours?
A
- I am sometimes too detail-orientated when working on something so this can come with a time cost
- However, I work on improving this by consciously checking on my own progress
18
Q
Tell me about a time you dealt with pressure
A
- Can ask if they want a more academic or physical example
- Academia example - I had to achieve an A in my AS Further Maths which was the highest obtainable grade in order to be predicted an A* and apply to the course I wanted to at university - felt really intense at the time and I had a lot of content to master while I had other ongoing commitments - ended up getting 25 marks above an A - handled the pressure by preparing for every possibility and making it so that on a bad day I would still be able to succeed - I focused heavily on any mistakes I made and ensured that I learnt from them and that they were not repeated
- Driving test example for physical one as instructor pulled out late and I had to learn myself - pressure as I knew I would not be able to get another chance
19
Q
Talk about how you would integrate a new team mate
A
- Go for an informal catch-up with them e.g. a coffee
- Let them know what the culture is like and that they can trust me, I am there if they have any questions - make them feel part of the team
- Find out how they operate and how they are most effective and then accommodate to that
20
Q
What do you do outside of work?
A
- I am interested in watches, football, socialising and meeting new people i.e. learning about new people
- Messi is the greatest footballer OAT
- I am into sports and find ways to improve myself physically and mentally - I find joy in improving myself
- Really into film and TV, I like to read other peoples reviews and look into what I have watched
21
Q
What is your work ethic like?
A
- I am very driven and am able to streamline my efforts to achieve high
- Academia wise I was able to prepare for all aspects of what could come up in my AS exams, got 25 marks above an A, in A-Level maths Y13 mock I achieved an average score of 97% across all papers (highest in my cohort)
- Strong work ethic so avoided distractions and short-term pleasures in order to obtain that delayed gratification
- Allows me to believe in myself and shows that hard strategic work produces results
22
Q
What are you passionate about?
A
- Maths
- I remember being in Year 5 thinking I had learnt all the maths there was, but every year I was introduced to more
- Year 12 gave me some of the tools to appreciate more advanced applications of maths - I was so interested that in my Y12 summer holidays, I learnt all of Y13 maths content for the fun of it whilst revising for my mock exams which would be on Y12 content - it felt like watching a new episode of my favourite show
- I did this so that I could research more about different systems such as transition matrices sum to infinity
- Learning procedures and their real life applications is exciting to me and it is part of what brings me to FIC
23
Q
A time you showed good attention to detail
A
- Working with nationally competitive athletes at SJAC - we had to watch frame by frame video footage and analyse the techniques of these junior athletes and find ways to help them improve - we did this by first understanding what perfect form looks like ourselves
- Another example is within further maths, there is a lot of questions where they try to trick you up so you have to play close attention to what the question is example, a single digit or word makes the difference e.g. in matrix invariance
- Monitoring many children at once in S4K so I had to look out for any potential signs of distress or unease to ensure children’s safety
- Concierge shifts - many of the residents like things a certain way, some do not want you to knock, some want you to greet them
24
Q
A time you have persisted through a challenge
A
- Can talk about econ open day but say that 2 of our helpers had to pull out really late
- We had to adapt to the change but still remained successful - did this by speaking to larger groups at once, leaving fun activities that did not require one of us to monitor
25
You see your friend cheating in an exam. What do you do?
- You report them - maybe have a good faith conversation with them first and suggest they come forward themselves then let them know you will have to report them
- I understand that in a school or professional environment, I have to set aside my personal relationships and biases
- I think this is important in banking & finance as there is very strict regulations and compliance that must be followed
- Staying silent makes you part of the problem
26
Opinion on Trump’s economic plan
- The US has $36 trillion debt
- In 2025, they will spend 6 trillion but only receive 4 trillion in revenue, putting them $38 trillion in debt
- Trump wants to cut expenses by targeting waste and fraud e.g. social security payments for people who are 150yo
- Hopes to increase revenue by 1-2 trillion through tariffs
- ‘Other countries will retaliate to tariffs’ - they may not be able to do it as the US is the worlds largest consumer, the worlds largest importer + the current tariffs are not fair e.g. US cars entering Europe face 10% tariffs whereas European cars entering US face 2.5%
- It now makes economic sense to build factories and businesses inside the US so they do not face the tariffs -> more jobs, more tax revenue, and more foreign investment coming in
- Also increasing revenue via deregulation making it easier to do business
- He is also looking to reduce taxes - proposed to cut corporate taxes from 21% to 15%, compared to the European average of 22%
- When you eliminate waste, money can go to where it is actually needed i.e. to the elderly and the poor
