Category Archives: Banking

Banking

Are You Prepared For Your Investment Banking Interview?

In one sense the guidance contained in this article can be applied to preparing for any job application interview. So, whether you have experience of attending interviews in the past or not, you need to be aware of the importance of effective and diligent preparation. This is especially true in the finance and banking industry where the interviews you will undergo are equal to the benefits you will enjoy should you be hired.

Make sure you are totally prepared for your investment banking interview by:

Confirming The Interview

The one thing that you can rely on is that investment banking interviews are typically well structured and depending on the organization and number of job opportunities available the interviews can cover different times, dates, and even locations.

You have been fortunate to be considered for one of these opportunities by the invitation to attend an interview. The very first thing you need to do is to confirm that you are able to attend the interview on the required date and at the suggested location.

Remember we are talking about career choices here. If you cannot make the interview there better be a very good reason why you can’t. Contact the organization immediately and try to reschedule. Hopefully you will be successful but there is also the situation where you will not be. In the worst case you may even be dropped from consideration.

Understanding The Interview

Part of being fully prepared for your investment banking interview is finding out as much as you possible can about the interview process itself. When confirming you are available, don’t just leave it at that. The more you can find out at this stage may well give you an edge over the other applicants as the majority of them will not ask. Find out:

* Interview format – will it be with the department head? Will it be with a representative from Human Resources? Will the interview be one-on-one or will you be facing an interview panel? Will you undergo some forms of analytical or psychometric testing? Will the interview be conducted at an assessment center where it may seem less formal but you will be on interview the whole time including how you interact with the other applicants.
* Interview location – if the location of the interview is unfamiliar to you, gather as much information as you can on how to get there. (Normally this will be provided). It’s important to make sure you have more than enough time to get there and compose yourself before the interview commences.
* Interview feedback – one powerful way of gaining an advantage is by gathering any previous interview feedback. If you have attended interviews before, what did you learn from those situations? What worked well for you? What mistakes did you make? If you have been selected by means of a professional recruitment agency, they are likely to be more than familiar with the company with which you have the interview. Ask them what their experiences are in recommending other applicant previously. What feedback did they receive directly from the company’s representatives and how can this help you prepare?

Understanding The Organization

One final point to help you prepare for your investment banking interview and may also give you more of a “competitive edge” is to gather as much information as you can and increase your knowledge about the organization itself.

This will come across during the interview itself either by the well informed way you respond to questions asked of you or the intelligent questions you ask the interviewer(s). Not only will this help to impress them, it also shows your level of commitment, your desire to get hired by this company, and the ability to apply yourself.

It never ceases to amaze me how few job applicants fail to carry out this very important research. Don’t be one of them.

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Banking

Here’s How To Succeed At Your Investment Banking Interviews

Investment banking is the most financially lucrative position for any university graduate. There are many people vying for the few openings each year in this industry. Graduates who are able to land one of the prime positions have mastered their investment banking interview. Successful candidates are the ones who prepare for their interview and anticipate the questions they might be asked and how to best answer them.

Questions that you will be asked will be either fit questions or technical questions. Technical questions are either right or wrong just like two plus two will always equal four. Investment banking companies ask technical questions to see how well you know the formulas and whether or not you are paying attention in class.

The fit questions are what separates the potential hires form those that are rejected. Companies ask fit questions to make sure you will be a good addition to their company. Fit questions are sometimes referred to as “the airport test.” This tells whether or not an investment banker would feel comfortable spending several hours in the departure lounge of an airport with you.

The fit questions give you an opportunity to be charming and personable and appeal to the interviewer so they will select you for an open position. How you answer a fit question is the ultimate key as to whether or not you will be hired by the company.

The answer to a fit question will show your motivation and desire to work in the investment banking industry which is well known for its 80+ hour work weeks. Companies want to hire employees who show they are willing to do whatever it takes to succeed in this highly competitive industry.

Fit questions give you an opportunity to accentuate your strengths and experiences that will be valuable to the company. Everyone has had many experiences in their lives and answering these questions is the chance to show how your life experiences would benefit the company.

The purpose of fit questions is to put you on the spot and see how well you can think on your feet. It also prevents you from being able to spout out memorized responses to potential questions. Some of the questions that you will be asked assumes that there is no possible way for you to know the answer. What the company is evaluating is how well you can think of a way to solve the question without already knowing the answer. In most cases the interviewer will not know the answer to the question either.

Now that you understand the fit questions will be the major decision factor during your interview, you should focus the majority of your preparation on these forms of questions.

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Banking

Banking and International Operations of the Finance Industry

Banking is a highly regulated industry. It acts as a financial intermediary between customers with capital deficits and surpluses. The global regulatory authorities govern the banking and international operations by putting several restrictions, on the financial activities of the banks.

The banks generate revenues, by charging interest on the money lent. The bank pays lower interests on the deposits, and lends out money on higher interest rates. This allows the banks to profit from the differential interest rates. The banks charge a transaction fee, which is a form for their stable revenue. It also provides a platform for smooth financial performance. More active and revenue generating tool is, the provision of financial advice to their customers.

The financial system is an economic cycle, which depends on the requirements and strengths of customers needing loans. It is a way to channelize resources and interconnect financial institutions. It allows directing funds from household savings to the industrial sector, and enabling them to share risks.

The finance industry comprises of banks, stock brokerages, credit cards, insurance, investment and consumer finance companies. The international operations of the finance industry have to be run under legal international practices, regulated by leading authorities of the world. The changes and reforms in the banking regulations allow progressive policies and practices.

There are some financial institutions in Canada which they have the largest revenues and deposits. They carry the biggest market capitalization. The banks focus on investment banking services and, in particular middle market clients. The group of banks of Canada has been listed as the largest Canadian companies, which work internationally operational in several countries.

Of the major focus of the group of banks is the international operation. The banks invest funds in Caribbean region. The residents receive financial services provided by First-Caribbean international banks. Those institutions have a joint venture merging uniting the Caribbean operations. The banks not only cater to the financial needs of the residents, but extends its services to non-residents as well.

The banks are members of several bankers associations all over the Caribbean region. They also offer various financial services to students, small business and enterprises. They work worldwide in association with MasterCard, Visa, CarIFS, Maestro and MultiLink Network.

The banks operate nationally and internationally as Financial Group. This group receives high competition from other big bankers. It has growing banking operations outside Canada. It has huge commercial banking business in Caribbean and considers the region as its local market. The banks are listed on the stock exchange to facilitate the financial services internationally.

The Caribbean retail banking network cater over every single country and the territories around. There are a lot of branches offering finance planning, monitoring and investment opportunities to the local people and non-residents. This network has boosted the confidence of the shareholders who have been offered to invest in one of the most successful banking institution in the world. This banking and international operations network also offers the benefit of the expanded market. It provides increased lending capacity of the group of banks, with a wide range in financial products.

Global Financial institution offering commercial and personal banking services for money in Bahamas including online banking, credit card, loans and finance in Trinidad and Tobago.

Banking

Who Should Think Carefully Before Choosing the Career in Banking

Working in a bank is a dream for some people who do not realize how hard the work with money and with people at the same time is. The banking sphere requires employees to have a great set of credentials to be admitted, which means a person without proper education cannot come to work in a bank. For this reason it is essential to make one’s choice before starting the higher education and choosing a major. It is better to have a deeper look into what banking really is, and maybe some of agile wishers to become a bank worker will change their mind. Horrible Truth about Working in a Bank. 1. The hardest thing about working in a bank is to communicate with customers all day long. No matter how positive and communicative the employees are, there are a great number of dissatisfied or rude customers who spoil the lives of ordinary employees. It is a usual situation that a customer comes to the back 5 minutes before it closes and asks for several services, harasses the worker with numerous questions and presumes that he or she has to know everything. Such practices are very tiring and irritating, but all bank employees have to deal with hundreds of such clients in person or by phone, and they can do nothing about it – this is the core of their work. 2. In addition to intricate psychology of dealing with customers, a bank worker has to know much about banking, finance and commercial areas of work. He or she should be really competent, no matter how the client treats him or her, as in other case the position will be free soon. Bank employees go through a thorough process of selection as they actually represent the ‘face’ of the bank and their task is to preserve clients and satisfy their needs.

Jordon Casinger works in professional writing company as a professional academic writer. Pursuing her own ambitious scientific career, she helps countless students worldwide with write term paper, research paper and academic writing help.

Banking

Jute Bags Exporters Now Banking On Green Activists

The golden fibre is finally finding its true place in our day to day lifestyle. The green activists crescendo is reaching its fever pitch highlighting the usage of jute products as an alternative to plastics, at least at the corporate and political level.

Recently, Delhi Chief Minister Sheila Dikshit urged people to use jute bags while launching the ‘Sheel Shera’ project aimed at discouraging the use of plastic. The chief minister further stressed upon the need to use environment-friendly bags apart from bringing awareness on environmental issues.

Another initiative which is doing the rounds is from SULABH INTERNATIONAL, a well known civil society organisation . They too have launched a campaign to popularise biodegradable carry bags made of jute and paper in Jaipur. Sulabh’s initiative has been very warmly received by the residents of Jaipur.

Globally too, the green activists are strongly pushing the use the jute bags specially in EU countries, where the use of single-use plastic shopping bags is now on decline. Eco-friendly, reusable bags are often made from jute cloth, also known as burlap in USA and other countries. At the corporate level, reusable bags are used as a fashion statement and symbolises their concern for the environment.

Jute bags exporters are certainly elated by such campaigns as it gives a push to their sales figures and they don’t mind doing their bit by spreading awareness among the buyers. Experts say that jute is a very viable alternative to plastics etc. as it is long, soft, strong, heat resistant and can be spun into one of the most versatile natural fabrics.

In addition to above benefits the use of jute products also gives rise to jute cultivation which in turn play a vital role in increasing the fertility of the soil. By rotating with other crops such as rice and potatoes, jute acts as a barrier to pest and diseases and also provides a substantial amount of nutrients to other crops in the form of organic matter.

Jute bags suppliers further make their case stronger by stating that wholesale jute bags are not only strong and long lasting, they are also ideal to carry such items because the top of the bags have a very strong handle to distribute the weight evenly. Needless to say, these facts hardly leave any room for doubt that jute bags are sustainable and eco-friendly products and therefore, are ideal for green consumers who understand the critical state of our nature.

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I am a B2B industry analyst. Feel free to leave your valuable comments and feedback !

Banking

Channel Island Offshore Banking and Offshore Tax Haven

The Channel Islands are a group of British Isles consisting of the islands of Guernsey, Jersey, Alderney, Sark, Herm, Jethou, Brechou, and Lihou located in the English Channel west of Normandy.

Because of their location near both France and England, the official language is both English and French. Some of the more than 200,000 residents of the Islands also speak a patiois that is a blend of both.

One of the things that is not a blend of English and French culture is the official currency, with the British pound, which is divided into 100 pence, winning out. It has a conversion rate against the U.S. dollar of £ 1.00(GBP) = US$ 1.59

These islands are famous for their tax haven status and also their offshore banking for much of Western Europe. Their close proximity to the bigger nations and strong taxation and privacy laws make them a very attractive offshore banking and incorporating location. While finance makes up a large portion of the economy; it is also fueled by agriculture, including the growing of fruits, vegetables and the raising of dairy cattle. The tourism industry is also playing a large part in The Channel Islands growing economy.

Though they are close geographically to other European nations, the Islands are not part of the European Community. Heavily influenced by English Common Law, The Islands’ laws are a mixture of local legislation, customary law, and include legislation past in the UK.

People of the Channel Islands have full British Citizenship, but are not represented in the UK Parliament. Instead each Guernsey and Jersey have their own primary legislatures, with Chief Pleas in Sark and the States of Alderney.

Not all islanders are considered European citizens even though they receive full British citizenship. A passport printed with the words “British Islands”, “Bailiwick of Jersey” or “British Islands, Bailiwick of Guernsey” is issued to any British citizen who applies for it in the Channel Islands.

Real estate investors and those who have real estate trusts as part of their portfolios, are particularly fond of the Channel Islands. These types of investments are taxed at a far lower rate than they are in the UK.

Thanks to the low tax laws on estate trusts along with offshore banking connections to Britain and United Kingdom offered to individuals, and companies from other countries, they have instilled a certain amount of confidence in the security of making a private investment using their banking system. Add to that a legal system that many Westerners are more familiar with than that of Middle Eastern countries, the Channel Islands should be on everyone’s list as a offshore tax haven.

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Banking

Economy, Government, and Offshore Banking in Belize

Formerly known as British Honduras, Belize is a Central American country bordered by Mexico to the north, with the Caribbean on its eastern side and Guatemala located on its southern and western sides. Belize covers 8,867 square miles (22,960 km²) of territory, with Belmopan as its capital.

Belize society is comprised of many diverse cultures, speaking many languages. Belize is the only Central American country to have English as its official language. Many of its citizens also speak Kriol and Spanish.

With an economy based on the exportation of sugar, citrus fruits, bananas, sugar, timber, fish,seafood and other seafood products, it comes as no surprise that the majority of Belize’s more 320,000 people survive on a low per capita GDP of $ 7881(est. 2008).

Belize’s countryside mixes its heritage founded on the ancient Mayan culture, with jungles, waterfalls, rivers, caves and mountains, which has brought it to the worlds attention as a eco-friendly tourist destination. It has the world’s only jaguar preserve, along with other attractions like marine resorts, wildlife sanctuaries and forest reserves.

There has been a significant increase in Belize’s banking and financial services industry in recent years. Offshore banking and privatized banking has become a highly profitable asset here.

Adding liberal trade programs and increasing its access to outside markets has help the country to plan a strategy that will increase the demand for its offshore investment services.

Belize’s telecommunications infrastructure is comprehensive. The country also has direct flights daily to the United States, and international courier services that provide it with connections to anywhere in the world. It is easy to reach, easy to communicate in, and easy to open an offshore bank account.

The Belize Court system is based on the English system of Common Law supplemented with local legislation. The court of final appeal on questions of law is the Privy Council of the House of Lords in England.

Queen Elizabeth II is the chief of state, represented by the Governor General. The Head of State is the Prime Minister, who is appointed by the Governor General and also serves as the leader of the majority party. He in turn appoints the Deputy Prime Minister.

National Assembly consists of 2 branches. There is the Senate with its eight members, five appointed on the advice of the prime minister, two on the advice of the leader of the opposition, and one by the governor general. Members of the Senate are appointed for five-year terms. The 29 members of the House of Representatives are elected by direct popular vote and serve 5 year terms.

For any business in a hurry to move to Belize as an offshore tax haven, should consider the fact that the country has made it possible to become incorporated in 1-3 days. This is a good indication of how “business friendly” Belize really is.

Englishman Peter Macfarlane is an author and lecturer on offshore finance, investment, due diligence and wealth creation matters. After fifteen years advising high net worth clients on offshore asset protection structures such as companies, trusts and private interest foundations, he decided on a career change and now mentors individuals who are interested in creating, preserving and growing wealth in a secure offshore environment. Peter defines wealth in the broadest sense, believing that money is worthless if you don’t have health and happiness. He is now joint editor of The Q Wealth Report, a publication dedicated to publishing freedom, wealth and privacy information for a select audience. He offers a free sample copy to readers of ezineseeker. You can visit The Q Wealth Report to get a deeper understanding of private offshore banking.

Banking

Banking For a Small Business – The Key Factors

Choosing business banking services can be complicated and tiresome for business owners. Small businesses are particularly affected by the need to have a specific business banking package; as this helps growth and development. It is hoped that this article will highlight some of the more common factors which should be included in the decision making process of selecting a bank.

As a small business one of the first questions you need to ask is whether the bank has an advisory service. Many banking providers today have business advice teams on site that are there to supply help and assistance to small businesses. Ideally a company needs an advisor on hand to give guidance in terms of financial management and planning. Ultimately this should form a major element in selecting a banking service.

In today’s fast paced business world having a bank that provides effective online services is essential. Having expansive online banking means that your financial activities can be performed to your schedule and not the bank’s; this is fundamental for small businesses where finding the time to visit the bank can be difficult to organize. Ultimately it allows you to focus on the growth of the business.

Many banks offer financial lending services with their account packages. Loans to some small businesses form an important element in funding and operation. Hence if finance plays an important part in your business plan it is worth taking the time to research different bank’s offerings and balance these against any other services that are provided. It is also worth remembering however that the majority of banks will require a detailed growth and development plan before granting loans.

Another important factor which should be taken into account when choosing a bank is the customer service on offer. Naturally you will want a bank that cares for you as a customer, contact should be straightforward and any queries should be answered quickly and succinctly. Fortunately the internet is an excellent resource for researching bank’s reputations and should be utilized as much as possible.

Many company directors become obsessed with interest rates when choosing a bank account for their operation. However this can be a mistake. Ideally a bank account should be chosen less for the interest rates and more for the cost of fees and charges. Remember that as a small business, profits and savings may not materialize for an extended period of time; hence lower charges will be a more preferable option during the initial stages.

This article has striven to set out a number of important factors for those selecting business banking services for a small business. This information should be used as a guide and contains points of reference to ease the financial processes allowing a company to grow and prosper.

Follow the link for specialized business banking solutions ideal for large, medium and small businesses, business advice provisions, financial expertise and overdraft facilities.

Banking

Investigating the Appeal of Investment Banking Careers

If you are a talented student studying for a degree in a subject such as finance or accounting it is likely that you are already seriously considered a career in investment banking. Investment banking jobs have gained a reputation for offering some of the highest salary packages a new graduate can hope to earn. A couple of years ago a graduate taken on by a leading American investment bank could be making as much as $ 150,000 dollars a year including expected bonuses, and this high wage was attainable within the first year or two in successful investment banking careers.

Over the last year the recession has also affected the living standards of investment bankers with salaries cut by as much as 40% and bonuses all but eliminated. Nevertheless everything has not turned gloomy for students who are seeking investment banking jobs. Aspiring bankers seem to have confidence that current difficulties are like the proverbial passing cloud and in a short while salaries and bonuses are going to return or even exceed the levels they reached a few years ago. Interest in investment banking degree courses remains high and intern positions are keenly sought after.

The investment banking jobs hierarchy
Investment banking is a hierarchical profession with salaries climbing from approximately $ 60,000 per year for a new entrant to millions of dollars a year for an experienced departmental manager. Such substantial wages are unlikely to be attained by those who aim to work a regular nine to six working days but come at the cost of ninety or a hundred hour weeks. The employees who make it to the top of the pyramid are expected to demonstrate their commitment to the bank by working hours significantly longer than in other economic sectors. While investment banking careers can make possible high living standard executive lifestyles, they do not leave the employee so much time to enjoy their immaculately furnished penthouse or any of the other symbols associated with these earning levels.

Many entrants to investment banking begin through internships which may be sponsored directly by a bank or organized through a university offering an investment banking degree. Another route into investment banking careers involves becoming a junior assistant or investment analyst position. At the most junior levels the new employee is occupied learning the basics of the business including understanding the bank’s structure and networking within the bank. They also provide useful assistance to senior analysts and managers through organizing meetings, preparing documents and other internal support tasks. Although usually their contact with clients is going to be minimal they might have an opportunity to be present at some meetings in an observer role.

Assuming that they put in the required hours and demonstrate skills and devotion to their job, new employees become regular investment analysts with responsibilities for research and analysis of investment opportunities and dealing directly with clients. The possession of a good master’s degree from a recognized university allows other new recruits to enter the bank at the higher level of investment banker associate. The associates enjoy a higher starting salary than junior analysts although they are not normally given responsibility for their own clients. Associates occupy a secondary position to the senior manager from whom they are supposed to learn those vital client investment valuation and communications skills. In the United States a couple of years ago an investment banking associate might expect a starting salary of $ 100,000 – considerably more than they might hope to receive starting off in many other professional positions.

Regardless of the route they follow into the business, junior bankers usually hope that their careers will take them to a senior management position with all its associated prestige and millions of dollars in annual salary in recognition for their contribution to the bank’s success.

Learn more about investment banking careers and global investment banking here.

Banking

Panama Standing Firm on Tax Information Exchange and Banking Secrecy

In these changing political times, for those seeking secure locations for offshore protection of assets, Panama remains a top choice.

In a letter to the OECD after the London G-20 meeting at which Panama arbitrarily, (along with Switzerland and a number of other respected offshore financial centers), was placed on a “less than black” list (the Grey List), President Martin Torrijos’ Minister of Commerce and Industry, made clear that his government would only go so far in exchanging tax information.

She condemned the G-20 and the OECD for “…discriminatorily affecting the good name and competitiveness of the international [financial] services offered by the Republic of Panama and that are the backbone of our economy.”

The minister laid down these pre-conditions under which Panama would exchange tax information:

“1) The privacy of persons will continue to be protected and guaranteed against undue interference.

2) There shall be no automatic exchange of information.

3) There shall be no undue triangulation of information furnished among nations.

4) Any exchange of information shall be done based on individual requests supported by a specific and justified principle or law.

5) There shall be a reasonable transitional period with respect to any measure that must be implemented and that has an impact in the international services platform offered by the Republic of Panama, it being understood that the application of any measure shall occur at the same time as similar measures applied in each and every one of the states that are members or not of the OECD and that Panama considers to be competitors in the provision of international services.”

Note the emphasis in the last pre-condition above. Panama will only concede to any limited measure at the same time as similar measures have been applied to all other competitors in the provision of international services. That’s a long list and we doubt that every other competitor will come into conformity. China in the form of Hong Kong and Macau just for starters has signaled no such intentions.

Some commentators have inferred that the pending free trade agreement between Panama and the U.S., which has been pending congressional approval for some time, will be used to pressure Panama into caving in. What is lost in the small print is the fact that this agreement is far more beneficial to the U.S. side then the Panamanian.

Panama exported $ 377 million to the United States last year and 96% of the goods from Panama already enter the U.S. duty free under existing trade preferences. By contrast, Panama currently applies tariffs ranging from 8% to 15% on most manufactured goods, with rates in the high double and even triple digits for U.S. agricultural products.
Panama also bans the import of re-manufactured goods. That’s a potentially lucrative market for U.S. industrial and consumer exports, including cell phones, computers and earthmoving equipment.

We have read many uninformed, misleading and self-serving articles even on supposedly well informed asset protection websites predicting the demise of Panama as an offshore financial center. We quote from one:

“Since the G20 meeting the Panama company has been under quite a bit of fire from the US Government and Congress. Currently the US and Panama have a reciprocal free trade agreement between the two and the US government wants to do away with this agreement until Panama either hands over information on Americans in the jurisdiction which means doing away with their banking privacy laws or taking drastic measures to change legislation which makes Panama a fiscal paradise. The US has always had a strong hold in Panama even after their retreat and the handover of the Panama canal. Many Americans who currently own or are the beneficial owners of a Panama Company have been looking for safe alternatives before the house of cards begins to fall down around them”.

Apart from the erroneous fact that the free trade agreement has yet to be ratified and the fact that the U.S. has not had a strong hand in Panama since it removed its forces 10 years ago and has been denied even the use of one of its former bases just for drug interdiction and intelligence purposes, we would say just the opposite is the truth.

Also, Americans with Panama companies are not looking for other alternatives fearing everything is about to come tumbling down. Au contraire…. they are looking to Panama as one of the last few bastions with clout and independence to continue their long standing policies.

The smaller nations are inevitably more vulnerable and with much smaller economies open to bribery. Those other alternative jurisdictions, many of which we offer such as Belize, Nevis and the Seychelles, will have had to go the way of the OECD wishes first before Panama will even consider implementing any changes. Therefore if Panama goes it will be because every other offshore financial center has already agreed to do so. We consider that eventuality highly unlikely based on the current scenarios before us.

Use the following link to find out more information about why to bank offshore in Panama, see the Panama Tax Haven article: http://www.offshore-protection.com/panama-tax-haven.html

Sovereign Management & Legal can help you with Offshore Bank Formation Services, contact us here: https://secure.offshore-protection.com/contact/contact-us.html