22 August, 2022
By Mike Simpson
Wells Fargo is undoubtedly a giant in the world of banking. Since its launch in 1852, the company has worked to provide innovative financial services to customers. That’s why so many people jump at the opportunity to work for the company. For candidates, that means you’ll face a lot of competition, so impressing when you face off against the Wells Fargo interview questions is a must.
Fortunately, with a solid strategy, you can tackle interview questions at Wells Fargo with ease. Here’s what you need to know to make that happen.
How to Answer Wells Fargo Interview Questions
Before we take a look at the top Wells Fargo interview questions and example answers, it’s a good idea to spend a moment discussing strategy. While practicing answers to common questions is essential, you also need to prepare for the unexpected. With the proper techniques, that’s far easier.
Overall, Wells Fargo has more than 268,500 employees. While that means they often have plenty of openings, your odds of facing stiff competition are incredibly high. So, you need to seize opportunities to show you’re a perfect match for the company.
Wells Fargo stands out from the competition for a few reasons. Along with being community-oriented, the company is very customer-focused. Wells Fargo is dedicated to helping customers and businesses, so having a customer-first mindset is essential.
Along with demonstrating a commitment to customer service, you’ll need to ensure you’re ready to discuss the hiring manager’s other needs. How do you find out about those? By doing some research.
Start by taking a close look at the job description. Find any keywords discussing the responsibilities, required skills, requested experience, and desirable traits. That way, you can integrate those into your answers.
Next, review the Wells Fargo mission and values statements for more insights into what the company is after. Couple that with a review of the company’s social media profiles, allowing you to find out more about the company’s culture and any recent achievements.
Once you’ve done that, you have a ton of useful information at your disposal. Now, all you need to do is learn how to approach different types of Wells Fargo interview questions.
First, there are traditional interview questions, which are pretty cut and dry. The hiring manager will ask if you have specific knowledge or skills, and you’ll let them know if that’s the case. If so, follow up with an example of you putting that capability to work. If not, let the hiring manager know how you’ll acquire it or express a willingness to learn.
Now, you’ll need a different technique for behavioral and situational questions. Here, discussing an example or outlining how you’d navigate a scenario is essential. Fortunately, by taking the STAR Method and mixing in the Tailoring Method, you’ll have a winning formula. In the end, your answers will be thorough, compelling, and relevant, making it easier to stand out from the crowd.
Top 3 Wells Fargo Interview Questions
Before we dive into our top three Wells Fargo interview questions and example answers, it’s critical to note that every interview is unique. After all, Wells Fargo hires customer service representatives, IT professionals, product managers, mortgage specialists, and more.
Ultimately, a portion of the interview questions for a Wells Fargo job will be role-specific. However, some come up in the vast majority of interviews, regardless of the position. Additionally, some jobs are far more common than others.
With that in mind, here’s a look at our top three Wells Fargo interview questions.
1. If you caught a colleague stealing, what would you do?
If you’re trying to land a position at a Wells Fargo branch location, there’s a good chance that you’ll encounter this question. Theft is a big concern for any company that handles large sums of money. As a result, the hiring manager wants to know that you’ll take the right actions if you witness stealing.
While you might think that just saying you’d report it is enough, that leads to a lackluster answer. Ideally, you want to outline a step-by-step process you’d use instead, making your response more thorough.
“If I caught a colleague stealing, my first step would be to intervene if that was possible, reasonably safe, and aligned with company policy. Next, I would speak with my manager or the designated person for such matters immediately. I’d let them know what I witnessed, including as many details as possible. For example, if I saw that my coworker removed cash from a specific register or noticed a particular denomination, I’d mention that. Similarly, if I saw where my colleague put the money, I’d bring that up, too.
Another step I would take is to discuss my coworker’s position in the office at the time of the theft. Security cameras are prevalent, so letting my manager know where they were could help them determine what footage needs reviewing. If filing a formal written report was part of standard company procedure, I’d handle that as well.”
2. What impact are current economic conditions having on the banking and financial services industry?
The world of banking and financial services has seen more than its fair share of challenges in recent years. Between the pandemic and inflation, people are making different decisions in regard to their money.
This question is designed to test your industry savvy in relation to current events. Ultimately, you want to incorporate details about current economic conditions and discuss how you believe they could impact a company like Wells Fargo.
“The past few years have been tumultuous, fundamentally altering many aspects of the banking and financial industry. During the height of the pandemic, many people began having different expectations about how they engage with companies. As a result, I believe that banks had to update their offerings, shoring up their technology to support more forms of communication and make information accessible. The development of more chatbots is a prime example, as they allow customers to get access to questions quickly without engaging with a live person.
Since inflation and rising interest rates became a factor, there are new shifts in customer behavior. When interest rates go up, borrowing typically slows, which could harm earnings. Requirements also tighten, which has a similar effect.
Whether we’ll see changes in savings rates is currently unclear. While interest rates are heading upward, the purchasing power of a dollar is diminished to the point where many people may struggle to set money aside. As a result, this creates a new potential challenge for the banking and financial services industry, should it come to pass.”
3. What would you do if you believed you exceeded expectations when handling a task, but your manager felt otherwise?
This question isn’t one many candidates expect, which is why it’s a good one to practice. Here, the hiring manager wants to know how you deal with constructive criticism, especially when you feel you met or exceeded expectations initially.
In this situation, you want to show that you can handle negative feedback calmly and professionally. Additionally, highlighting your willingness to learn can work in your favor.
“If I felt that I exceeded expectations, but my manager felt otherwise, I would welcome any feedback they could provide. After mentioning their disappointment, I’d work with them to determine the best way for me to improve. I’d ask clarifying questions to get a genuine sense of any missteps, as well as discuss alternative scenarios of how I could have handled the task. Ultimately, my goal would be to learn more about what my manager was after, allowing me to use that information to improve my performance.”
22 More Wells Fargo Interview Questions
Here are 22 more Wells Fargo interview questions you might encounter:
- Why Wells Fargo?
- What can you tell me about Wells Fargo?
- Who are Wells Fargo’s primary competitors, and how does Wells Fargo separate itself from the pack?
- What inspired you to start a career in the financial services industry?
- Are you willing to travel to other branches? If so, how far are you willing to travel?
- Tell me about a time when you had to handle an especially difficult customer. What was the situation, why was it challenging, and how did you tackle it?
- Can you describe what you believe a typical day looks like in this job?
- Are you a Wells Fargo customer? Why or why not?
- If you had some unexpected downtime, how would you make the most of it?
- What do you do to ensure you offer an excellent customer service experience?
- Describe a time when you failed at work and what you learned from the experience.
- What are some of the risk factors associated with investing?
- How well do you multitask when under pressure?
- Can you tell me about a time when you took initiative at work?
- Describe a process you created that improved efficiency in your workplace.
- Tell me about your customer service experience.
- If a customer asked you a complex financial question and you didn’t know the answer, what would you do?
- How do you build relationships with clients?
- When faced with two tight deadlines, how do you decide which one to prioritize?
- Can you tell me about your cash handling experience?
- In your past positions, have you had any financial analysis responsibilities?
- What steps do you take to remain informed about the state of the banking and financial services industry?
5 Good Questions to Ask at the End of a Wells Fargo Interview
As your Wells Fargo interview starts coming to a close, the hiring manager typically gives you an opportunity to ask some questions of your own. This is a crucial moment, one that lets you showcase your enthusiasm while you learn more about the company.
During your interview, some questions may come to mind that you want answers to, and it’s perfectly fine to present those. However, you also want a few more questions prepared in advance. That way, when this point in the interview arrives, you’ll have some backups ready.
Here are five good questions to ask at the end of a Wells Fargo interview:
- Why did you choose to work at Wells Fargo instead of a competitor?
- What’s your favorite part of Wells Fargo’s company culture?
- How is success measured in regard to this position?
- Has this job grown or evolved over the past five years? How do you envision this role changing in the future?
- What’s one challenge that Wells Fargo faces that the new hire could potentially help solve?
Putting It All Together
At this point, the idea of answering interview questions at Wells Fargo probably doesn’t seem so intimidating. Use every tip and piece of information above to your advantage. That way, when it’s time to face off against the Wells Fargo interview questions, you’ll be ready.