20 CIBC Interview Questions and Answers

When it comes to interviews, being prepared is key to success. And when you’re interviewing for a job at CIBC, it’s important to know what kind of questions you may be asked.

CIBC is a leading provider of financial services in the United States, and they offer a wide range of products and services to their clients. From commercial banking to wealth management, personal banking to small business solutions, CIBC has a lot to offer.

So, what kind of questions can you expect in an interview with CIBC? Here are some sample questions and answers to help you prepare.

CIBC Interview Process

The interview process at CIBC can vary in length depending on the position you are applying for, but typically it is a fairly lengthy process. The first step is usually an initial phone screen with a recruiter, followed by one or more in-person interviews with members of the team you would be working with. These interviews can be quite difficult, as they often involve behavioral questions and case studies. Overall, the interview process at CIBC is very thorough and can be quite challenging. However, it is also a great opportunity to learn more about the company and to meet some of the people you would be working with if you were hired.

1. Why do you want to work at CIBC?

This question is a great way for the interviewer to learn more about your interest in their company. When preparing for this question, make sure you read through the job description and highlight any aspects that are important to you. This will help you connect with the role and show the interviewer that you’re passionate about the position.

Example: “I’m interested in working at CIBC because of its reputation as one of Canada’s leading financial institutions. I’ve always been interested in working in the finance industry, and I think it would be an amazing opportunity to work for such a successful company.”

2. What is your experience working with financial models in Excel?

The interviewer may ask you this question to learn about your experience with Excel and how it relates to working in a financial institution. Use your answer to highlight your knowledge of the program, including its functions and features.

Example: “I have extensive experience using Excel for modeling purposes. In my last role as an investment analyst, I used Excel to create financial models that helped me analyze company performance and make recommendations on investments. I also use Excel regularly to track my budgeting and spending.”

3. How do you keep up with the latest trends and developments in the banking industry?

The interviewer may ask this question to assess your interest in the banking industry and how you stay up-to-date on new developments. To answer, consider what topics or trends have interested you recently and explain why they are important.

Example: “I am passionate about technology and innovation, so I follow several news sources that cover these topics. For example, I read TechCrunch regularly because it covers a wide range of tech news, including advancements in artificial intelligence, blockchain and other technologies that could impact the future of banking. I also subscribe to newsletters from major banks like Wells Fargo and Bank of America.”

4. If a client was unhappy with their investment, how would you handle it?

This question can help the interviewer understand how you handle customer complaints and develop solutions to problems. Use your answer to highlight your problem-solving skills, communication abilities and ability to work with clients to find a solution that makes them happy.

Example: “If a client was unhappy with their investment, I would first listen to what they had to say about it. Then, I would ask questions to better understand why they were unhappy so I could offer a solution. If they wanted to change their investment, I would explain all of our options and help them choose one that best suited their needs.”

5. Describe a time when you were successful at getting a large gift and what your strategy was.

Interviewers may ask this question to learn more about your sales and customer service skills. They want to know how you can help them achieve their goals, so they might ask questions like this one to see what strategies you’ve used in the past.

Example: “I once worked with a client who was looking for a new bank because his current bank wasn’t offering him any perks or incentives. I knew that he had been a loyal customer of ours for many years, so I offered him a free checking account if he opened an investment account with us. He agreed, and we were able to keep him as a customer.”

6. Do you have experience managing a team of analysts?

The interviewer may ask this question to learn more about your leadership skills and how you manage a team of employees. Use examples from your experience managing analysts or other employees in the workplace.

Example: “In my current role, I have two analysts who report directly to me. One analyst is new to the company, so I’ve been helping her with learning our systems and processes. The other analyst has been working for the company for five years, so she knows all of our processes and procedures. She’s also very knowledgeable about the industry, which helps when we’re working on projects.”

7. Tell me about a time that you showed integrity in the workplace

Integrity is a key value for CIBC, and the interviewer may ask this question to learn more about your moral compass. When answering this question, it can be helpful to describe a situation where you had to make a tough decision that could have gone either way but you chose to do what was right.

Example: “I once worked with a client who wanted me to recommend some risky investments. I told him that while they were high-risk, they also had the potential to pay off big time. He decided to go ahead with them, and when he lost money on those investments, he came back to me asking why I recommended them in the first place. I explained that I only ever want to put my clients’ best interests at heart, and that sometimes we need to take risks to get the rewards.”

8. Have you ever had any experience dealing with an unreasonable customer?

This question can help interviewers understand how you handle conflict and whether or not you have any experience working with customers. In your answer, try to explain what steps you took to resolve the situation and show that you’re a problem-solver who is willing to take initiative.

Example: “I once had a customer who was upset because they didn’t receive their money on time. I listened to them carefully and explained why there was a delay in receiving their funds. They were still unhappy, so I offered to give them an additional 10% of their original investment as a way to make up for the inconvenience. This seemed to appease them, and they left happy.”

9. Describe a project you worked on where you did not meet expectations. How did you approach this situation?

This question can help the interviewer understand how you respond to challenges and learn from your mistakes. Use examples of projects where you faced a challenge, but were able to overcome it or find alternative solutions.

Example: “In my previous role as an account manager for a software company, I was tasked with managing a client’s expectations when they requested more features than our product could offer. Instead of telling them we couldn’t do what they wanted, I suggested other products that might meet their needs better. They ended up purchasing one of those products, which helped us retain the client.”

10. What is your take on the current market dynamics?

The interviewer may ask you this question to gauge your knowledge of the financial market and how it has changed over time. Use examples from your experience to explain what you think are some of the most important changes in the industry.

Example: “The current market dynamics have made it more challenging for businesses to get loans, which is why I am excited about working at CIBC U.S., as they offer a wide range of loan products that can help small businesses grow. In my last role, I worked with many clients who were looking for loans to expand their business operations. I helped them find the right loan product based on their needs.”

11. List three financial statements and explain their purpose.

The interviewer may ask this question to assess your knowledge of financial statements and how they relate to a company’s overall performance. To answer, you can list the three most common financial statements and explain what each one measures.

Example: “The balance sheet, income statement and cash flow statement are the three main financial statements that companies use to measure their performance. The balance sheet shows the assets, liabilities and shareholders’ equity of a business at a specific point in time. The income statement provides information about revenue, expenses and net profit for a given period. Finally, the cash flow statement details the amount of money a company has received or spent over a certain period.”

12. Where would you like to be in your career five years from now?

This question is a great way to learn more about the candidate’s career goals and how they plan to achieve them. It also helps you determine if this person would be happy in their role at CIBC U.S. for the long term. When answering, make sure to include your short-term goals as well as your long-term ones.

Example: “I hope to have advanced into a management position by five years from now. I’d like to continue working with clients to help them reach their financial goals. In the next two years, I hope to earn my Certified Financial Planner designation.”

13. Are you comfortable speaking with clients over the phone?

This question is an opportunity to show the interviewer that you are willing to take on a variety of responsibilities in this role. You can answer with a “yes” and explain why you feel comfortable doing so.

Example: “I have experience speaking with clients over the phone, as well as through email and text messaging. I find it helpful to use different communication methods because it allows me to learn more about my client’s preferences and how they prefer to receive information from us. It also helps me understand their concerns better and provide them with solutions.”

14. Explain VaR to us.

VaR is a risk measurement tool that financial institutions use to evaluate the potential loss of an investment portfolio. The interviewer may ask you this question to see if you have experience using VaR in your current role and how you apply it to your work. In your answer, try to explain what VaR is and why it’s important for financial institutions to measure their risks.

Example: “VaR stands for value at risk. It’s a statistical method used by banks and other financial institutions to determine the maximum amount they could lose on an investment portfolio over a given period of time. I’ve used VaR in my previous position as a senior analyst to help my team understand the risk associated with our investments. This information helped us make more informed decisions about which companies we should invest in.”

15. What are some tools you use to keep up with the latest trends?

The interviewer may ask this question to see if you are interested in learning more about the industry and how it’s changing. They want to know that you’re committed to keeping your skills up-to-date, so be sure to mention some of the ways you’ve done this in the past.

Example: “I regularly read trade publications and attend seminars hosted by my bank or other financial institutions. I also subscribe to newsletters from several banks and companies within the finance sector. These resources help me stay informed about new products and services offered by CIBC U.S., as well as those available in the wider market.”

16. What issues will the financial industry face in the next 5 year?

This question is an opportunity to show your knowledge of the financial industry and how you can apply it to a role at CIBC. You can use this question as an opportunity to discuss any changes in technology, regulations or other factors that may affect the financial industry.

Example: “I believe the biggest issue facing the financial industry will be cybersecurity threats. With more people using online banking services, there are more opportunities for hackers to access sensitive information. I would like to see banks implement new security measures to protect their customers’ data.”

17. Which area of finance are you most interested in?

This question is an opportunity to show the interviewer your passion for finance and how it can benefit their company. When answering this question, try to highlight a specific skill or area of interest that you have developed over time.

Example: “I am most interested in financial planning because I enjoy helping clients create long-term goals and find solutions to achieve them. In my previous role as a financial advisor, I helped many clients plan for retirement by creating a budget and finding ways to save money. This process was rewarding for both me and my clients.”

18. When should we use income statement analysis instead of balance sheet analysis?

The interviewer may ask you this question to assess your knowledge of financial accounting and how it relates to the banking industry. Use examples from your experience to explain when income statement analysis is more useful than balance sheet analysis.

Example: “Income statement analysis is a better method for analyzing revenue, expenses and net profit or loss. Balance sheet analysis is best used for determining assets, liabilities and equity. In my last role as an accountant at a small business, I used both methods regularly to analyze company performance and make recommendations on how to improve operations.”

19. What kind of personal qualities do you think are important for working at a bank?

This question is an opportunity to show the interviewer that you have the qualities they’re looking for in a new hire. When answering, think about what your previous managers and coworkers valued most about you as a team member.

Example: “I believe that honesty and integrity are two of the most important personal qualities for working at a bank. I also think it’s important to be able to work well with others and communicate effectively. In my last role, I was responsible for communicating with clients by phone and email, so I feel confident that I can do this job well.”

20. How long have you worked in the financial industry?

This question is a great way for the interviewer to learn more about your experience and how it can benefit them. If you have worked in the financial industry for many years, discuss what you’ve learned along the way that will help you succeed at CIBC U.S.. If this is your first job in the financial industry, explain why you’re passionate about working in this field.

Example: “I started my career as an investment advisor five years ago after graduating from college with a degree in finance. I’m excited to continue growing my career here at CIBC U.S., where I can use my knowledge of investments and financial planning to help clients reach their goals.”