When answering this question, focus on a specific instance where you had to make a challenging credit decision. Start by describing the context and the factors that made the decision difficult. Explain the steps you took to gather and analyze the necessary information, and how you weighed the risks and benefits. Highlight any tools or methodologies you used in your evaluation process. Conclude by discussing the outcome of your decision and any lessons learned. For example:
"In my previous role, I had to decide whether to approve a loan for a small business that had a strong business plan but a limited credit history. I conducted a thorough analysis of their financial statements, market conditions, and business projections. I also consulted with industry experts and used credit scoring models to assess the risk. Ultimately, I decided to approve the loan with certain conditions to mitigate risk, such as requiring collateral and setting a higher interest rate. The business successfully repaid the loan, and the experience taught me the importance of balancing risk with potential growth opportunities."
Stand out from the crowd with video applications! Make your video applications in minutes and show the real you.