Could you pass this test designed to weed out bankers without morals?
Will you do anything to get ahead in your career; stepping over others, employing dubious tactics to ensure success and, ultimately, a juicy bonus?
Integrity is not something readily associated with those in investment banking, but it’s something that employers want to see more of. Financial services firms are embedding ethical tests into the recruitment process, and requiring new analysts to undertake exams to ensure that they’re aware of the sort of behaviour expected of them.
The Chartered Institute for Securities and Investment runs a diploma in Integrity & Ethics in financial services that has just been extended beyond the UK to Ireland and the US. This test is increasingly becoming de rigueur in financial services organisations – 10,000 new recruits in UK financial services organisations took the course this year (and 1,100 failed to make the grade).
The CISI has provided us with some sample questions. How would you get on? Vote below, view the answers at the bottom and see how you compare with your peers.
1. A colleague (Sam) receives an invitation from a business contact (Joe) to a major sporting event.
On the morning of the event Sam calls you to say that Joe is unwell and cannot be present. Sam tells you that Joe is happy for him to bring anyone else in his place and Sam invites you to attend with him.
2. Your firm has a strict policy that it does not condone facilitation payments. However, when travelling overseas a customs official demands a small payment ($20) from you as “your paperwork is not in order, but he will fix it for you”. Despite having been specifically told by the county’s embassy that you have the appropriate clearance you do not wish to be held up at the airport any longer than necessary.
3. You have been told privately that a senior colleague of yours uses initials after his name denoting that he has achieved a qualification you have learnt he does not hold.
You believe that no one else knows and consider how best you can deal with this.
4. You are invited to attend a sporting event which takes place on a weekday. Your manager is happy for you to go provided that you take time off using your leave entitlement. You currently have 2 days left in this year which you had planned to use for a long weekend to attend your best friend’s stag weekend in Berlin.
You check your leave calendar which shows that you have three days left, because one day when you took leave at short notice does not appear to have been deducted.
- Saying that you would love to go.
- Making the payment but not claiming it back as this was a “private” matter.
- You will raise the topic in an appropriate forum with a recommendation that action should be taken only after a considered discussion of your colleague’s explanation.
- Make a choice as to which event is most important to you.