You’ve spent your career working for global banks, but you’ve just landed a job interview at one of Singapore’s local banks, DBS, OCBC or UOB.
You’re not alone. The three firms – which collectively added 4,541 people in the year to end-June – are all sourcing more staff from international banks in Singapore.
Many of the interview questions you’ll face will, of course, be specific to your job function. However, others will be more generalist – aimed at ascertaining whether you’re the right fit for a Singapore-headquartered bank. Here’s a list of potential questions to prepare for, and some expert tips on how to structure your answers.
Why work here instead of an international bank?
Expect to get this question almost before you’ve taken a seat. Try to focus on the specific, positive pull factors of DBS, OCBC or UOB. “When moving from an international bank to a Singaporean bank, show you understand how local banks differentiate themselves in your job function,” says Matthieu Imbert-Bouchard, managing director of recruiters Robert Half in Singapore. “This question is an opportunity to show you’ve done your research as each bank will have a reputation for doing something well.”
But why would you want to give up having a wider international exposure?
You’re not off the hook yet – prepare for this question as a follow-up to the above. Evelyn Lee, a director at LMA Recruitment in Singapore, suggests this answer: “After working in a global bank for a number of years, my experience covers the breadth of international banking. However, I’d now like to focus my skills on a more targeted market – Singapore. This will allow me to gain more in-depth exposure and better use my strengths to more directly contribute to the bank.”
Do you want to join us just because you think we offer better job security?
Avoid any hint that you want to move to a Singaporean bank because they tend not to make many mass layoffs. “Interviewers will be trying to find out if you’re looking to join them due to a perceived safety net. While it’s true that local firms are unlikely to dramatically scale down their businesses, your compensation and job security will still be tied to your individual performance,” says Gary Lai, managing director at recruiters Charterhouse Partnership in Singapore.
Why have you changed jobs so often within the past few years?
Local banks value long tenures and don’t like the tendency of some young banking professionals in Singapore to ‘job hop’ between different global firms. “If you’ve had three or four jobs in a short period of time, you can definitely expect this question,” warns Imbert-Bouchard. “You can’t lie, so try to turn it into a positive by indicating how each job was a positive step in the direction you wanted your career to move. It’s easier to accept that your frequent changes were part of a career strategy to achieve a goal and weren’t just jumps for a bit of extra pay.”
Name a time when you faced a significant challenge in your role. How did you overcome it?
Singapore banks have been restructuring their operations – largely because of digitalisation – in recent years and continue to do so. This means you are bound to be asked a question about a ‘challenge’ or ‘change’ in your current job. “Singapore banks typically look for people who are resilient amid a changing local banking environment, with digitalisation and automation on the agenda,” says Lucas Yeo, head of banking and finance at recruiters Tangspac. “Roles will evolve – banks are looking to see if you will stick with them through change, and if you’re adaptable.”
How would you cope with more accountability to locally-based senior management?
At most international firms in Singapore, the global head of your department will be in another country and there may be multiple management layers between you and them. Interviewers will want to know how you will cope with the smaller hierarchy you will encounter at a Singaporean bank, says Lai. The key to your response is to show how you have successfully adapted to managerial changes in the past, he adds.
Where do you see yourself in five years?
“When you’re moving from an international bank to a local one, this question can be tricky,” says Imbert-Bouchard from Robert Half. “What the interviewer is really asking is whether you intend to stick around, or are just waiting for a better opportunity with an international bank to come along. You should highlight your ambition to build a future within one organisation and your desire for continuity and stability in your career.”
Team dynamics is important to our corporate culture. How well do you assimilate into teams?
While you could be thrown a teamworking question at a global firm, Singaporean banks – largely because of their comparatively low staff turnover – are particularly keen on them. Begin your reply with an example of how you contributed to a team objective in a recent job, says Lee from LMA. If you’ve researched the bank’s approach to teamworking, then add a few comments about it and why you’d fit right in.
Tell me about the most important requests for proposal that you’ve opened in Singapore during the last quarter
Singaporean banks obviously have huge books of local clients and for front-office roles they will test your own local networks with questions similar to this one, says Farida Charania, group CEO of search firm Nastrac Group. “Always show your knowledge of local businesses and their requirements as well as any relationships you’ve got with corporate decision makers.”
What exposure to Asian regulators or exchanges have you had?
“This question is being asked a lot, especially to candidates moving from a global bank to a Singaporean one,” says Lynne Roeder, managing director of recruiters Hays in Singapore. “Due to headcount being tight in the banking sector, hiring managers don’t have time to train new employees in the basic functions of the role. You need to tell the interviewer about the extent of your exposure to the various exchanges and local regulations.”
What languages do you speak?
As Singaporean banks expand across Asia, language skills are becoming more important. If you speak a language in addition to English you increasingly have an edge.
Have a confidential story, tip, or comment you’d like to share? Contact: smortlock@efinancialcareers.com
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