Bank of America Hiring Process: Job Application, Interviews, and Employment
The hiring process at the Bank of America involves various stages, including the job application and interview processes you will need to successfully complete to be employed by the Company.
Please, continue reading to learn about the Bank of America recruitment process and increase your chances of getting employment with the Company:
Bank of America Company Overview
Bank of America Corporation, commonly abbreviated as “BofA”, is a U.S multinational investment bank and an establishment that renders financial services.
The establishment came into existence after NationsBank acquired BankAmerica in the year 1998, and rebranded it into the world renowned Bank of America based in Charlotte, North Carolina.
After JPMorgan Chase, Bank of America is the largest financial institution in the U.S. The major services offered by this financial establishment are commercial banking, investment banking and wealth management.
The bank has a very large market share, it operates business activities, and its economic impact has resulted to a lot of lawsuits and investigations as regards to bank loans and monetary disclosures as of 2008 financial crisis.
The Bank of America Hiring Process
Bank of America usually hires its employees through a well structured hiring process, which involves the following stages:
- The Application Process
Submitting an online application to the Bank of America via their official website is the first stage of the hiring process.
The online application enables Bank of America in tracking, managing, and responding to your application efficiently.
Simply visit Bank of America official website, click on the Apply Now/Get Started button, and fill out the application form with all the necessary information demanded from you.
Your resume or CV will be required, ensure to submit it as well.
After submitting your application successfully, you will be sent a message via your email to acknowledge the reception of your application.
2. Assessment Test
The second stage of the hiring process is an assessment test, which is normally conducted at Bank of America’s assessment center.
This test is highly important, since it determines if you will be called for an in-person interview.
This assessment test consists of three stages:
- Numerical reasoning
This segment of the assessment test involves the answering of 20 questions within 20 minutes, and it’s conducted to assess your numerical abilities.
The questions usually relate with graphs, tables, and percentages. You will be requested to carry out analysis on data and chose from various choices of answers.
At this stage, you will be given a short manuscript to carefully read and then deliver a ten minutes presentation. You will also be asked a few questions by the assessors.
Making research about Bank of America and how they perform their business activities is highly recommended prior to the assessment. Your presentation skills and your analysis will be assessed.
- Group exercise
During this section, you will be given a short document that involves a fictitious company. You will read through and then discuss questions and answers with a group.
It is important for you to exhibit excellent team-work skills. Your performance in the group will be assessed. The assessors are very interested in candidates that are able to work in a team efficiently.
3. Interview Process
At the Bank of America, applicants are sometimes interviewed more than once, depending on the role applied for.
After the assessment, most applicants are called to attend an in-person interview, after they must have been interviewed for a few minutes via a phone call.
Phone interviews are mainly conducted as a screening process to verify if the information on an applicant’s resume is correct.
Bank of America’s in-person interview is usually competence-based, thus, it largely focuses on your former work experience, and your personal enthusiasm for the role.
The Bank of America in-person interview questions you may be asked include:
- Share your background experience with me.
- Why are you motivated to work at Bank of America?
- Have you ever had a fight (not fist fight) with a colleague?
- Why do you want me to hire you for this particular role?
These questions and others will be asked on your in-person interview in order to assess your competence and enthusiasm to be their employee.
Moreover, it is highly recommended to be fully prepared for the interview before you are invited for it.
Here are some tips to aid your preparation for the Bank of America interview:
- Get acquainted with the primary functions of your role at an establishment such as Bank of America.
- Thoroughly acquaint yourself with the description of the job you are applying for.
- Prepare to ask a few questions that are very thoughtful, because the interviewer might ask if you have any questions to ask.
- Ensure to practice your response to possible questions that will be asked during the interview.
4. Bank of America Orientation
A newly employed candidate at the Bank of America is normally oriented on his or her role and what the bank is all about.
It’s usually the “onboarding process”, which is a learning procedure that lasts for two – four weeks, or just some days, depending on the role.
You might be trained by a long-term, high positioned personnel in the same department as you.
After the orientation, you will be certified to start working normally as other employees.
How Long Does the Bank of America Hiring Process Take?
After concluding the in-person interview at Bank of America, you will be assured of getting a response from them in about two or three weeks.
But some applicants don’t eventually receive any response from the bank.
Just like some other large establishments, the Bank of America will grant immediate employment to any applicant who performs excellently well at the interview.
Major Bank of America Jobs and Careers
Numerous jobs and careers are available at the Bank of America for employees with various qualifications and experience:
- Investigators: An investigator at Bank of America does complete investigation of outward financial fraudulent activities across one or more relevant business lines that are significant to the investigator’s precise aspect of responsibility.
- Accounting specialist: An accounting specialist is employed to support the controller/head cashier to ensure departmental operation is successful by doing various accounting duties. Also, this role is responsible for balancing the Federal Reserve account and performing account reconciliation that is correspondent.
- ATM Manager: The ATM Manager is in charge of the administration of the ATM’s (automated teller machine) services, products, and some related systems. This role also works in collaboration with the management, vendors, and regulatory authorities irrespective of ATM placement.
- Credit analyst: A credit analyst at the Bank of America is employed to gather and carry out analysis on credit information concerning potential and current borrowers. This role is also responsible for determining the suitability of giving out credit for various types of loans.
- Sales/customer service professionals: This role is responsible for ensuring that the public knows about all what the bank offers. This professional also meets with customers, takes enquiries, and makes suggestions of the right service for them.
- Sales and support assistance: This role helps with the administrative duties that are related to customer’s relationships, and detects the service and sales requirements of customers.
- Fraud client service representative: This role works together with the Bank of America’s consumer client services team and offers help in preserving customers’ financial security in the bank. The employee handling this role has to be a critical thinker and good user of sound judgment when reviewing the accounts of customers for any possible fraudulent activity.
What to Expect Working at Bank of America
Bank of America has flexible working hours for employees, plus varieties of amazing benefits to receive as a competent staff of the bank. Long-term workers are usually promoted and then granted increment of salary.
According to most previous staffs, the Bank of America has employees that are friendly and supportive to each other.
A newly employed individual at the Bank of America finds it pretty easy to execute his or her duties due to the assistance received from fellow colleagues in the same department.
However, according to some employees, the bank does not have an amazing management procedure and your job is not absolutely secured. Someone can be laid off at any time.
If you are seeking to work at the Bank of America, you will have to go through their hiring process to be offered an employment.
This post helps you with the information you need to get prepared for the hiring process at the Bank of America and succeed in securing a job there.