1. Explain me how do you cope with busy, stressful periods?
Answer that by staying organised and keeping a strict diary you find that stress does not become a real issue. As soon as you identify a possible delay due to high work volumes you raise this with your manager to see if the work can either be reallocated or given priority.
2. Tell us how do you deal with authority?
Say that you deal with authority as you deal with customers - with integrity, professionalism and politeness.
3. Please tell us are you good at solving problems?
Not all administrators need to be excellent problem solvers so if you are not the best, be honest and say so. You could say that you are not good at solving problems but you understand the skills of your colleagues well and will always be able to persuade somebody to assist.
4. Tell me who Do You Admire Most and Why?
“The why is typically much more important than the whom, So identify someone who has qualities you admire or has done something you aspire to do, and clearly articulate the specific reasons you admire that person. Avoid someone who could be controversial, if at all possible.”
With more businesses focusing on culture and fit, this question allows interviewers to see if your values mesh with the company's.
5. Do you know what is working capital?
By definition, working capital is current assets minus current liabilities. The working capital figure shows a financial manager how much of an organization's cash is tied up in items such as accounts receivables and inventory. It also indicates how much cash is going to be required to pay off short term debt and obligations over the next year.
6. Do you know what is a deferred tax liability and what is its purpose?
A deferred tax liability is just the opposite of a deferred tax asset. The deferred tax liability occurs when a tax expense reported on the income statement is not paid to the IRS during the same period it is recognized--it's paid at a future date. Deferred tax liabilities can result when there are differences in depreciation expense between book reporting (GAAP) and IRS reporting which lead to differences income as reflected on a companies income statement versus what's reported to the IRS--and which results in lower taxes payable to the IRS (in the short run).
A multi-part question such as this will reveal how your prospective finance manager navigates challenging waters. Do they rise to the occasion, communicate clearly and foster win-win partnerships, or are they more likely to say nothing and carry-on. Ultimately, a finance manager is a liaison to several different departments, supporting them to achieve their strategic objectives, while managing their own team. You need a strong problem solver and communicator in this role.
8. Explain me why are increases in accounts receivable a cash reduction on the cash flow statement?
Net income has to be adjusted to reflect an increase in accounts receivable since the company never actually received the funds. As the cash flow statement begins with net income, it shows a cash reduction what accounts received increases.
At the time of the purchase, there is a cash outflow (cash flow statement) and PP&E goes up (balance sheet). Over the life of the asset it is depreciated. This shows up a reduction in net income (income statement) and PP&E (balance sheet) decreases by the amount depreciated. At the same time retained earnings (balance sheet) also goes down. However, the depreciation is added back in the cash from operations section (cash flow statement) as it is a non-camsh expense the reduced net income.
Unlike general expenses that provide benefit over a short period time (i.e., employee's work, taxes, etc.), capital expenditures provide benefit over a longer period of time. Due to the duration of their estimated benefit--usually several years--capital expenditures are capitalized on the balance sheet, where shorter term expenditures are expensed on the income statement. This is the difference between an asset and an expense.
The best way to stay organised is to keep a log of every request and each task completed so that nothing is accidentally left to go past a deadline. Mention any software that you use for this purpose.
12. Please tell me how would you react if you felt you were being pushed too far at work?
If pushed too far you would consider speaking to your manager about workloads and expectations and try to resolve the situation.
I take pride my organization skills. I believe my attention to detail and desire to stay organized can only benefit the team I am working with.
I like to think outside of the box.
Yes, it is. A company that is selling off inventory but delaying payables will show positive cash flow for a while--even though they're in trouble. Another example would be where a company has strong revenues for the period but future forecasts show that revenues will decline. This would happen when a company hasn't focused on making sure there were new prospects/sales in the pipeline.
This question allows you to see how effectively the candidate assesses the scenario. Can they determine a reasonable timeline for informing upper management of the error, and do they offer a unified front with their colleague when it comes to that conversation? How your prospective finance manager answers this question will reveal their views on leadership – invaluable information when you are trying to make a hiring decision.
16. Behavioral Financial Planner Job Interview Questions:
☛ How do you stay up-to-date with changes to tax and investment regulations?
☛ Tell me about a time your advice to senior managers resulted in higher revenues.
☛ Describe a time you used analytical skills to explain the risks of a potential investment.
☛ Have you ever made a bad financial decision? If so, what happened and what did you learn from that experience?
☛ Do you prefer giving presentations or preparing written reports? Why?
17. Administrative Financial Planner Job Interview Questions:
☛ What computer skills do you have and what programs are you comfortable using?
☛ Are you comfortable using a phone with multiple lines and handling a high volume of telephone calls?
☛ At this company, we like to think of ourselves as a team that works together towards the same goals. How do you feel about working in a team environment?
☛ How would you feel supervising two or three other employees?
☛ What is your greatest strength and how will it help your performance in this position?
☛ What is your greatest weakness?
☛ How do you handle stress and pressure?
☛ What was it like working for your supervisor?
☛ What do you expect from a supervisor?
☛ Do you prefer to work independently or on a team?
☛ Do you work well with people?
☛ Give some examples of teamwork.
18. Operational and Situational Financial Planner Job Interview Questions:
☛ What visual aids would you use to deliver a presentation on a new financial plan to senior managers? Why?
☛ If you want to prevent a manager from making an investment, how do you ensure they understand the risks?
☛ We are planning to open a new store in the next two years. When does your role in this project begin and what do you think are your main responsibilities?
☛ How would you help employees shift from a “this is how it's always done” approach to embracing new processes you implement?
19. Questions to Ask in Financial Planner Job Interview:
☛ Can you describe a typical day(week) in this department?
☛ What are the responsibilities of this position?
☛ What are the strengths in this department? What are the weaknesses?
☛ What would your past assistants say was the best part of working for you? What would they say was the worst?
☛ What direction do you see the company going in the next five years? Do you feel that there are any threats to its success?
☛ Why did your last assistant leave the position? What were his/her strengths? What were his/her weaknesses? What is he/she doing now?
☛ What characteristics did your best assistant have? What about your worst assistant?
☛ How often are performance reviews performed? Who conducts them?
☛ What skills are most important to you in an administrative assistant?
☛ How do you reward and encourage the people who work in your department?
☛ Are there any ongoing production issues in this department?
☛ How have you dealt with personnel problems in the past?
☛ What are some of the biggest challenges for a person in this position?
☛ What is the most rewarding aspect of this position, in your opinion?
☛ Do you (Does the company/department) support memberships in professional associations, and continuing professional development?
☛ What would you describe as the role of the administrative staff in this office?
☛ Are overtime or weekend hours expected?
☛ What do you like most about working for this company? Are there changes you would make?
☛ What do you like least about working here?
☛ Do you encourage the department to work as a team, or concentrate more on individual contributions?
20. Role-specific Financial Planner Job Interview Questions:
☛ What are the first questions you ask about a new client or project?
☛ What is your client portfolio?
☛ Walk me through the process of assessing our current financial status.
☛ How do you check your work for accuracy? (e.g. ensuring correct data entry in large spreadsheets)
☛ What methods/metrics do you use to evaluate a company's performance?
☛ What is a cash flow statement? Is this enough to tell whether a company is profitable?
☛ What financial management software do you have experience working with?
☛ In your opinion, what are the biggest untapped markets and most challenging financial regulations in our industry?
21. General Financial Planner Job Interview Questions:
☛ Why do you want to work for us?
☛ What do you know about us specifically?
☛ What are your main motivations?
☛ Do you think technology has a role to play in this position?
☛ How will you keep ahead of the curve?
☛ What are your main strengths and weaknesses?
☛ Why are you perfectly suited to this role?
☛ Do you have any questions for us?
22. Tell us is it possible for a company to show positive net income and still go bankrupt?
Absolutely. A company that's experiencing a deterioration of working capital (i.e. decrease in accounts payable, increase in accounts receivable) can show positive net income but be in financial trouble in the future. It's also possible to show positive net income while in financial trouble by manipulating financial statements (e.g. revenue recognition, expense recognition, etc.)
23. Tell us what role do you think an administrator plays in the office dynamic?
Say that an administrator plays an important role in ensuring that diaries are properly managed and that all outgoing correspondence is well written and all incoming correspondence is read and delivered to the relevant managers quickly.
24. Tell me why do you think it's important to be positive in an admin role?
Being positive is important because often a person's attitude to their work can come across in their writing and presentation. Administrators sometimes provide the first impression a customer has of a business, so a positive and professional outlook is needed at all times.
25. Tell us are you willing to work overtime, if needed, to complete a project?
My career is my number one priority right now, so I would not have a problem putting in extra time to complete a project.
