FSA Assessment day

hello music107. I am assuming that you had interviews with the FSA in the past. I was wondering if you could give me some examples of the questions you were asked during your telephone interview or some tips to tackle it. I have my telephone interview coming soon Thank you!!!

Hi has anyone been to fina round assesment i was wondering whetther the interview requires different examples to ones used in telephone interview. Also if the case study is diffucult?

Has anyone got feedback from final stage assessment day, as to whether they have been offered the role?

We will find out on Monday whether we have made it or not. They scored us after we were done with the interview and the case study. And then added up the two scores later on to compare. So they couldn't possibly tell us who made it and who didn't.

Fingers crossed.

heard back yet?

I am really confused... they said they would tell us the outcome of the final round (mine was on Thursday) later that evening, and at the latest on Friday afternoon.... It is now Monday!!

Still no word from them for me!! Anyone heard anything like good or bad??

I was in the friday assessment centre day. They told us that the thursday people would find out that day (ie. friday) and the friday people would find out on monday. So far, I've heard nothing, so I'm starting to get nervous.... Anyone else heard anything?

I have not heard anything, I think whoever hasn't heard by now didn'y get it as I assume they would prioritising those who got the job first.
I am gutted , all that hard work, guess I got to get feedback on what to improve and move on I guess.

yep... think I have come to the same conclusion as you... we would have heard by now if they wanted us. Kinda think it is a bit rude that they told us we would all hear on particular days regardless of outcome, and then keep us hanging on. Bit mean I think.

Still nothing.

I was told that they are taking only a certain number of graduates for the March 11 intake. So I don't know how they could possibly have told the Thursday people their results on Friday before the Friday candidates were even assessed. I think it makes more sense for them to make decisions after all the candidates have completed the tasks. That would be a fair assessment and I'm pretty sure this is what they are doing.

Also, they are technically not yet late because the website says the offers would be made on 14th Sept. So maybe they are just taking their time.

See I keep hoping that the website is correct in saying Tuesday, but the brunette recruitment officer kept saying that they do not compare candidates. In fact they don't take on a set number. They do want roughly 25 people, but that number can go up or down based on the candidates and if they 'tick all the boxes'. If you are good enough to get through you will, if not you won't. If there were only 17 good candidates, they would only take 17 people. She banged on about that for ages at my AC. Hence why the FSA planned to phone you the minute they know if you are right for the job.

Also, did you see all our 'assessors/interviewers' walk in at the end of the AC and hand the brunette their comments on us. That made me scared.

The financial industry is the toughest in the world to break. I think they have been excellent in the way they have been quick with the process. It is tough to take rejection. But I think all of us who got that far have got a certain drive and ambition that will just make us stronger from this and I am in no doubt that all of us can take something away from this experience and we will be financial leaders and innovators if we just keep our heads. Well done for those who got the role.

Well said

I just called Mendas and was told that we will get a call today from the FSA regardless of the outcome. So even if we do not get an offer, we would still get a call.

On Friday I was told we would find out Monday as they would have no chance of processing it by Friday evening. I had the impression they were running late. It's only 3pm so just hang on. It's a long process ringing 38 applicants and so far I've not heard anyone say they actually have heard back, either way. Fingers crossed and good luck to all. Do post if you hear back. Also please note that only 13 applicants are being struck off (roughly), so unless all four of us are by chance among the thirteen, the timing is not indicative of anything.

Well thats good to know - that we aren't just gonna get an email, I'd much rather have a call. But are we assuming that the calls are handed out in order... i.e. first called are the successful candidates? I was a Thursday AC so I am assuming if I had been successful I would have found out Friday? Did they say if any calls were made last week?

Sorry I didn't ask about the Thursday candidates in particular. However, I still think that FSA will make decisions after ALL candidates have been assessed and scored, simply because of the fact that it is very much possible for all 38 candidates to hit the benchmark. In that case, they would not be able to offer jobs to all 38 of them.

You are analysing it too much. If they rang the people on Friday, they would have rang you to tell you either way. You can't predict it. Just keep your fingers crossed till 5.30pm and if you haven't heard then ring Mendas. Good luck.

Yeh you guys are right, just getting a tad nervous I guess. Well, on that note, good luck to everyone and hopefully we'll be able to sleep easy tonight following our phonecalls.

Just got the call. I have an offer yayy! Hope you guys have good news to share.

Btw, she couldn't finish the call because she had to run to a meeting. So don't fret if you haven't heard from them yet. She said she will call me back in a bit.

well done I am glad for you , and I wish you success in this fiield , our economy definately needs people who can ensure excellent regulation and forward thinking. They obviously could see you pushing them forward in the right direction as you must of conveyed this throughout your assesments. I think you can have some much deserved celebration , bet you can't wait to be in the centre of the financial world it must be an amazing feeling to know you are now one of them.

Well done ZingerBurger. I wish you every success in the future.

Congratulations!! I got the call earlier on too, so it's safe to say I'm over the moon :) Good luck for everyone else!!

r jobsworth how did you get on?

I couldnt make it on either 9th or 10th so they have invited me to an AC this friday , did they tell you only 38 people were invited in total ?

didnt get the role. So time to move onwards and upwards

Hello,

I have Ac in Nov.

Please let me know what sort of questions asked and format of interview while you attended the Ac.

Regards

Shaz

AC1 will involve retesting of your online numerical test (with pen, paper and calculator - no computer). Out of 22 questions you can get a score of something like 11-13 and probably still get through if you do well in other areas.

It will then go into a group exercise and a written exercise.

There are typically 10-12 people at AC1. You will be divided into two groups and then sent in those groups to do the two exercises.

Group exercise - You are put into a room with cameras and recording equipment with your group and each given different, but related, sets of information. You have 30 minutes to use this information to make a decision. The skill is in time management and making sure you get your points across clearly, whilst still acknowledging the opinions of others. Make sure you can justify your points with evidence from the information, so that you come across as an intelligent and logical person. Addressing other candidates by their name is also beneficial and some sneaky people turn their name tags around so try to remember the names of your group before you begin in case they do this. I'm not going to tell anyone what the actual scenario was as it's unfair. You are given 5 minutes between you at the end to present on your findings, so be sure to leave a little bit of time to summarise your points and divide the presentation responsibilities up.

Written - Taken into a room with your group. Each person is given a laptop. You have a set of information which you essentially have to summarise and in addition you need to write some formal letters and stuff. It is FSA related, but doesn't really require any preparation. That being said, if you throw in some bits and bobs that you know about the FSA into your letter and relate it successfully to the task, I'm sure it would be favourable. There is no spell checker on the written task, so be sure to spell perfectly. It lasts for around 50 minutes.

All in all, AC1 is not about knowledge of the FSA, it's more about how you can communicate and write.

This is all from my experience of the March intake, so please do look at the FSA website to ensure this is still the basic structure of AC1. A woman there did mention that they used to do AC1 and AC2 together, so if they have reverted to this, then you will also have an interview and case study.

Lastly, don't stress at all. All the staff are mega-friendly and are all just Mendas staff, so no scary senior people dealing with you or anything. I didn't think anyone articulated themselves particularly impressively in my group as everyone was a bit nervous, so don't worry that everyone there will be brilliant and you'll be terrible because it simply won't be the case.

Onto AC2.

Split into two things, case study and interview.

Interview is done by two FSA staff from various fields. They weren't too senior in my case.

They ask very similar things to the telephone interview. Learn 2 examples for each competency and be sure to talk about specific situations, not anything general. They are really strict on this and you won't pass the interview if you're not specific.

Don't get nervous and rush into answering. After they ask the question, be sure to take a short pause to collect your thoughts if you need to. They don't mind this at all.

They ask all the obvious stuff like why the FSA? Why the graduate programme?

They then look to your application and probe you on a few of the things you mentioned in the questions about issues facing the FSA. Be sure to learn what you spoke about in a bit of detail and relate it to the FSA.

To summarise. It's pretty much the same as the telephone interview, just in a bit more detail and with a bit more focus on what you wrote about in your application.

No shock questions so there is really no excuse to choke in this interview. Just prepare well and you'll be fine.

Case study

You are given some information and an objective. You have 30 minutes to read through it and jot down things. Then you have to present your findings to two staff (different to your interviewers).

You will have plenty of things to talk about as all the info is included, but be sure to be very efficient with your preparation as time is limited and you want to include as much information as possible.

You could wing this and not do any preparation and probably be fine. A bit of reading on how to do case studies effectively wouldn't hurt, but is by no means essential.

Thanks,

My role is at Associate level and I am joining as a a experienced hires.

Please let me know what sort of AC will be applicable on me (AC1 or AC2).

Regards

Shah

What I outlined was for the graduate scheme, sorry. I imagine that the FSA would tell you the format of the assessment centre you are attending. It will most likely just be an interview where you discuss why you want to join the FSA, why you want this particular role, and what you understand of the role you are applying for.

what about for the iterns? Is it the same procedures as the grads?

Does anyone know the minimum required grade of the financial reasoning test?
Maybe 17 out of 22?

Thanks

The pass grade is around 12 for an application they like. One of the mendas women told me when I went. If your application is not quite up to scratch but you smash the financial reasoning test I'm sure they would take that into account though.

12 may sound easy but it's quite a hard test to do in such short time as there is so much text to read.

Many thanks Kdog. Actually 17 seems to be too hard to reach indeed, you are right.

I hope I can make 12 (or more).

Yep. Maths skill is just one of the skillsets the FSA look for. A bank would have higher standards on there numerical reasoning pass scores I think.

Hey man, I've passed the online test. I focused only on the first 15 questions. I was sure about these 15 and I didn't guess any question. I believe it was a good strategy though.

I have been invited to do the phone interview on Thursday. As I am a engineer with a MBA degree (I mean without previous experience in insurance) I am wondering how far they can squeeze me. A friend of mine talked about the Turner Report, which could be useful to the interview. Do you have any other tips or advice to share?

Cheers

Wow, Kdog this is great information you have provided. Thank you!!

I applied for the September 2011 intake, and I just got invited to AC1. For the group exercise, is the scenario FSA related?

TestGenie could you please provide any information/examples on the questions asked during the telephone interview. Any help would be hugely appreciated as mine is approaching soon.

Hi Vatraxos. Certainly I will help!

You will get around 7 or 8 questions regarding the following:
MOTIVATION
- What experience you have that has led you to applying to the FSA? *NOTE* - This is similar, but different to the "Why FSA?"question

- Why you applied to the particular programme within the FSA. If you applied to the Graduate Development Programme, for example, you need to describe why you have chosen this stream as opposed to the other more specialised streams

- Describe what business area that you are most interested in and why? You also have to describe an experience that has led you to selecting your preferred business area

TEAMWORK
- Describe a time where you worked in a team under pressure

COMMUNICATION
- Describe a time when you had to convince someone to change his/her mind toward your own point of view

DECISION MAKING
- Describe a situation where you had to make a tough decision. (Make sure you give an example that considers how you evaluated the risks involved)

- Describe a situation where you have used and analysed some information available to you to make a decision.... QUITE VAGUE, BUT WHAT THEY ARE LOOKING FOR IS A TIME WHERE YOU WERE TO MAKE A DECISION BASED ON SOME LIMITED INFORMATION, AND THUS HOW YOU USED YOUR PRIOR EXPERIENCE/KNOWLEDGE/GUTS TO COME TO A LOGICAL DECISION

PERSONAL ACCOUNTABILITY
- Describe a time where you have taken responsibility for actions and decisions

Also, take note that for every example you give, the interviewer will ask you questions to understand why you took some certain actions, or made some specific decisions. So make sure you also prepare to answer questions of decision making, within other competencies such as teamwork.

Good luck.

just had my assessment centre pat 1 today!!! hope i did well

TestGenie, is the structure similar to what Kdog outlined above?

Specifically are you given a calculator for the financial reasoning test?

I've got my AC coming up and I'm quite nervous about the test!

Thanks for all the info everyone!

Testgenie,
I have the same question you did, is the group exercise related to the FSA?
I have AC1 coming up soon, though its for a specialist scheme so I'm not too sure if that makes a difference for the ACs

any advice would be great
thanks

Got AC2 coming up soon for an experience banking role. Any tips would be greatly appreciated as I am a little stressed at the minute and don't know what I need to brush up on!

Hi all,

Can somebody share any info they have on AC2.

Regards

I just got through the telephone interview! I have AC1 coming up very soon....

Can somebody brief me on the FSAC. Am on the HR fast stream

Just got the news that I am through to the AC2.

I would just like to know if the focus of the case-study is your analysis skills, communication skills, knowledge of the financial services industry etc. It was pretty clear what they were looking for in AC1, not so sure about AC2.

Thanks

Hi BIOH, I have AC1 this week. Could you tell me what your experience was like? Any advice would be welcomed :-)

At qballstar

Group exercise - make sure to keep in mind the task you have been set as a group and if you need to be the one to remind the group of that or be the time-keeper do so.

Reasoning test - your whole group will take the test in the same room so just focus on your test and if you are struggling on a question skip it and come back. Its old advice but it really works.

Written exercise - it feels like you have a lot of time, but you don't. Once you understand what you need to do, do a skeleton of the WHOLE task and then go back and fill in. At least then you would have included all the vital info and structure to work off.

This is just how I approached it and bear in mind that I didn't think I had done that well so I was quite surprised to get through to the next AC.