20 BMO Financial Group Interview Questions and Answers

BMO Financial Group is one of the largest banks in Canada, and they’re known for their great customer service. If you’re interviewing for a job at BMO, you can expect to be asked some company specific interview questions. Here are some sample questions and answers to help you prepare for your interview.

BMO Financial Group Interview Process

The interview process at BMO Financial Group can vary depending on the position you are applying for. For some positions, such as customer service representative or investment specialist, you may have a digital interview where you record your answers to questions and submit them. For other positions, such as analyst or manager, you may have multiple rounds of interviews, both technical and behavioral. Overall, the interview process is generally smooth and friendly, although some reviewers noted that one of the managers they interviewed with was not engaged and seemed like he would rather be doing something else.

1. What do you think are some of the biggest challenges in banking today?

This question can help the interviewer get a better idea of your knowledge and experience in the banking industry. Use examples from your own career or other experiences to highlight how you overcame challenges, solved problems or helped others overcome similar issues.

Example: “One of the biggest challenges I see in banking today is that many customers are still using outdated methods for their financial transactions. For example, some people still write checks when they could be using online bill pay or mobile apps instead. As a customer service representative, it was my job to educate these individuals on more efficient ways to manage their money. In this case, I would recommend setting up an appointment with one of our financial advisors who could help them set up new accounts and find the best solutions for their needs.”

2. Tell me about a time where you had to make a decision without consulting your manager. How did it turn out?

This question is a great way to learn more about your potential manager’s leadership style. It can also help you determine if the company has a culture of encouraging employees to make their own decisions or not. When answering this question, it can be helpful to mention that you were able to successfully complete the task and how it benefited the company.

Example: “When I first started working at my previous job, I was tasked with creating a new marketing campaign for one of our clients. My manager had given me some ideas on what they would like to see in the campaign, but ultimately left the rest up to me. After researching the client and their target audience, I decided to create an ad campaign that focused on social media rather than traditional forms of advertising. The campaign turned out to be very successful, and we ended up winning several awards.”

3. Do you have an interest in personal finance and financial planning?

This question can help the interviewer determine if you have a passion for helping customers with their financial needs. Showcase your interest in personal finance and how it relates to your career goals by providing examples of how you’ve used your knowledge to benefit others.

Example: “I am passionate about helping people manage their finances, especially when they’re unsure of where to start. I recently helped my neighbor create a budget after she told me she was struggling to pay her bills each month. After we created a plan together, she realized that she could cut back on some expenses without sacrificing her quality of life. She even started saving money each month.”

4. Tell me about a time when you disagreed with a colleague on how to approach something, what was the outcome?

This question can help the interviewer learn more about your interpersonal skills and how you resolve conflicts. Your answer should show that you are able to communicate effectively with others, even when you disagree with them.

Example: “When I was working as a financial advisor at my previous company, one of my colleagues disagreed with me on how we should approach helping clients who were looking for investment advice. My colleague believed that we should only offer advice to clients who had over $100,000 in investable assets. However, I felt that we should be offering advice to all clients regardless of their asset size because it would allow us to build trust and relationships with new clients.”

“I explained my reasoning to my colleague and he understood where I was coming from. We decided to implement my idea and found that by offering advice to all clients, we were able to increase our client base by 20% within six months.”

5. Why BMO Financial Group? Why not another bank?

This question is a great way to show your knowledge of the company and how you came across it. It also gives you an opportunity to explain why you are interested in working for this specific bank. When answering, make sure to include details about what attracted you to BMO Financial Group and highlight any similarities between yourself and the organization.

Example: “I chose BMO Financial Group because I was looking for a career that would allow me to use my math skills while helping others. I saw that BMO Financial Group has many positions available that fit these criteria, so I decided to apply here. I am excited to learn more about the company and see if it’s a good fit for me.”

6. If you were given new responsibilities but no training or guidance, how would you go about learning those skills?

This question is a great way to assess your problem-solving skills and ability to learn new things. When answering this question, it can be helpful to mention that you would ask for help or guidance from someone who has the knowledge you need.

Example: “If I were given new responsibilities but no training or guidance, I would first try to find out what my manager’s expectations are. If they aren’t available, I would reach out to other colleagues with more experience in those tasks and ask them how they perform their job duties. I would also look at past performance reviews and any documentation on the position to get an idea of what is expected.”

7. What is the difference between a true partnership and a client relationship?

A true partnership is a relationship that involves two people who are equal and share the same goals. A client relationship, on the other hand, is one where there is an imbalance of power between the two parties. Your answer should show that you understand the difference between these two relationships and can apply this knowledge to your work at BMO Financial Group.

Example: “A true partnership is when both parties have the same goal in mind and treat each other as equals. In a client relationship, however, one party has more power than the other. For example, I had a client once who was very demanding. He would often call me late at night or early in the morning to ask for updates about his account. This made it difficult for me to do my job because he didn’t respect my time. It also made it hard for me to give him good service.”

8. Are you comfortable working independently as well as part of a team?

The interviewer may ask this question to learn more about your ability to work independently and collaborate with others. Use examples from previous experiences where you were able to complete tasks on your own as well as when you worked together with a team to achieve goals.

Example: “I have experience working both independently and collaboratively in my current role, and I find that both approaches can be beneficial depending on the situation. When I am working alone, I enjoy having the freedom to make decisions without needing approval from anyone else. However, I also value teamwork because it allows me to share ideas and opinions with other professionals who may have different perspectives or expertise. In my last position, I was part of a small team that met weekly to discuss our progress and challenges. We all learned from each other’s feedback and advice.”

9. Describe a time that you have received criticism. How did you handle it?

This question can help the interviewer determine how you respond to constructive criticism and whether you are open to feedback. Use your answer to highlight your ability to accept feedback, learn from it and apply what you’ve learned to future situations.

Example: “When I first started working as a financial advisor, I was eager to meet my sales goals each month. One day, my manager pulled me aside and told me that while I had been doing well up until this point, they noticed I hadn’t met my quota in the last two months. They suggested I take some time to review my client portfolio and make sure I wasn’t overlooking any opportunities for growth.

I took their advice and spent an afternoon reviewing my clients’ accounts. After looking at their portfolios more closely, I realized there were several areas where I could increase revenue without adding additional risk. I implemented these changes into my strategy and ended the next quarter with record-breaking sales.”

10. Tell us about a time you successfully worked with a difficult coworker.

This question can help interviewers learn more about your interpersonal skills and how you handle conflict. When answering this question, it can be helpful to mention a specific example of when you worked with a coworker who was challenging but also highlight the ways in which you were able to overcome any challenges together.

Example: “In my last role as an accountant, I had a coworker who would often come into work late or leave early without telling anyone. This made it difficult for me to complete projects on time because I didn’t have enough information from my coworker. After talking with them about their behavior, they agreed to communicate better with me so we could both meet our deadlines.”

11. Tell me about a time you made a mistake during work. How did you fix it?

Employers ask this question to learn more about your problem-solving skills. They want to know that you can recognize a mistake and fix it quickly. In your answer, explain what steps you took to resolve the issue. Show them that you learned from the experience.

Example: “When I first started working at my previous job, I was responsible for entering data into our system. One day, I accidentally deleted all of the company’s files. It was an honest mistake, but I felt terrible. I immediately told my manager what happened. She helped me restore the files. We also created new backup systems so this wouldn’t happen again.”

12. Give an example of a time when you had to prioritize multiple tasks.

This question can help the interviewer determine how you manage your time and whether you are able to complete tasks in a timely manner. Use examples from previous work experiences where you had multiple projects or assignments that required you to prioritize them based on their importance.

Example: “At my current position, I have three main responsibilities—serving customers, processing transactions and maintaining accurate records. Occasionally, there are times when all of these tasks need to be completed at once. For example, during tax season, I may have more customers than usual who need assistance with their accounts. In this situation, I would first focus on helping customers as much as possible before moving on to other tasks like processing transactions and recording information.”

13. Have you ever needed to convince someone to support a project? How did you go about convincing them?

This question can help the interviewer determine how persuasive you are and whether you have experience working with others. Use examples from your past to show that you’re a strong communicator who’s able to convince people of your ideas.

Example: “In my last role, I was tasked with creating a new marketing campaign for our company. At first, some members of the team were hesitant about the idea because they didn’t want to spend money on something that hadn’t been proven successful in the past. However, I presented them with data showing that this type of campaign had worked well for other companies in the past. After seeing the numbers, they agreed to give it a try.”

14. Describe any previous experience you have managing people.

This question can help the interviewer determine your leadership skills. Use examples from previous work experience to show how you helped others succeed and achieve their goals.

Example: “At my last job, I was in charge of a team of five people who worked on marketing campaigns for our clients. We met every week to discuss what we accomplished during the week and what we planned to do that week. I also held one-on-one meetings with each member of my team at least once per month to check in on their progress and offer advice or resources if they needed them. This helped me learn more about my team members’ strengths and weaknesses so I could better support them.”

15. Tell us about a time when you took initiative at work.

This question can help the interviewer learn more about your ability to take on new tasks and responsibilities. Use examples from your previous work experience that highlight your skills, such as problem-solving abilities or leadership qualities.

Example: “At my last job, I noticed a lot of customers were having trouble navigating our website. So, I created an online tutorial for how to use our site. It took me several hours to create the tutorial, but it helped many customers understand how to use our services. My manager was impressed with my initiative and promoted me to customer service representative.”

16. Which methodologies do you use for software development?

The interviewer may ask this question to learn more about your experience with software development. They want to know if you have the skills and knowledge to work on their team. Use your answer to highlight your expertise in using different methodologies for software development.

Example: “I use Agile, Scrum and Waterfall methodologies when working on projects. I find that these three methodologies are effective for managing a project’s scope, budget and timeline. In my last role, I worked as part of a five-person team where we used Agile methodology to manage our tasks. We had daily standup meetings to discuss what we accomplished each day and any challenges we faced. This helped us stay organized and complete our projects on time.”

17. What leadership style do you employ when leading a team?

The interviewer may ask this question to learn more about your leadership style and how you apply it in the workplace. Your answer can help an employer understand whether you would fit into their company culture, which is often a major factor when hiring new employees. When answering this question, try to describe your leadership style thoroughly and explain why you use that particular style.

Example: “I believe my most effective leadership style is democratic because I value input from all team members. In my previous role as a financial advisor, I encouraged my team members to share their ideas with me so we could discuss them together. This helped us come up with solutions for our clients’ needs more quickly than if I had made all of the decisions on my own.”

18. How do you ensure the accuracy of customer data entered into the system?

The interviewer may ask you this question to assess your attention to detail and ability to ensure the accuracy of data. Use examples from past experience where you ensured that customer information was accurate, such as when you used a system that required manual input or when you worked with customers who needed assistance with their accounts.

Example: “In my last role, I had to enter all new client information into our database manually. To ensure the accuracy of the data, I would always double-check it before submitting it for approval. This helped me avoid any mistakes in entering the data and allowed me to provide excellent service to clients by ensuring they received the correct information.”

19. What type of information can be found in the balance sheet of a company’s annual report?

The balance sheet is one of the three financial statements that make up a company’s annual report. The other two are the income statement and cash flow statement. Your answer should show that you understand how to read these reports and interpret their information.

Example: “The balance sheet shows a company’s assets, liabilities and shareholders’ equity at a specific point in time. It also includes notes about important events that occurred during the fiscal year, such as mergers or acquisitions. In my last role, I was responsible for reviewing the balance sheets of our clients’ annual reports to ensure they were accurate.”

20. Walk us through how you analyze a stock.

This question is a great way to test your knowledge of the stock market and how you apply it. When answering this question, make sure to include all steps in analyzing a stock and explain each one thoroughly.

Example: “I start by looking at the company’s financial statements. I want to see if they’re making money and if their revenue is increasing or decreasing. If the company is profitable, then I look at its price-to-earnings ratio. This tells me what investors are willing to pay for every dollar the company makes. Next, I check out the company’s debt level. If it has too much debt, that could be a red flag. Finally, I compare the company to others in its industry.”