The job search process in 2019 is like writing a message on a desert island, putting it in a bottle, and then throwing the bottle straight into a black hole.
This is likely how you’re applying, unless you know someone who works at the company. You’ll probably do it online and get a confirmation email automatically. Odds are you’ll never hear from them again. Or maybe you’ll get a rejection email months after you’d forgotten about the position.
Many applications are better than one. The more you send out, the more likely it is that someone will call you for an interview. But the challenges don’t end there! You still have to nail the interview. Here are ten tips for doing just that.
Getting hired at a top fintech company like OppFi is no easy feat With its rapid growth and innovation in the lending space, OppFi attracts some of the sharpest minds in finance and technology. As a result, the interview process is rigorous, with multiple rounds of both technical and behavioral questions aimed at identifying the most qualified candidates
In this comprehensive guide, we will explore the 15 most common OppFi interview questions based on insights from actual past interviews and online reviews. Whether you have an upcoming phone screen, coding test, or face-to-face interview, these tips and sample answers will help you master the art of acing an OppFi interview.
Overview of the OppFi Hiring Process
The typical OppFi interview process consists of
- Initial phone screen with a recruiter
- Take-home assignment or skills assessment
- Technical phone interview
- Panel interviews (virtual or in-person)
- Final interviews with senior leadership
The process can take 2-3 weeks from initial recruiter screen to final offer. Candidates have reported 4-6 separate interviews on average.
Preparation is key as the questions will test your technical knowledge, problem-solving abilities, communication skills and cultural fit. Let’s look at the top questions and how to tackle them smoothly.
15 Common OppFi Interview Questions
Here are the most frequently asked OppFi interview questions across various roles along with tips for acing your responses:
1. What appeals to you about working at OppFi over other fintech companies?
This common opening question assesses your understanding of OppFi’s mission and values. The interviewer wants to gauge your level of interest in the company and role.
Tips:
- Research OppFi’s background and products
- Emphasize your passion for financial inclusion and serving the everyday consumer
- Highlight aspects of the role that match your skills and interests
Sample Answer: What excites me most about OppFi is the company’s commitment to financial empowerment for all. By leveraging technology to provide accessible lending solutions, OppFi is bridging the gap between traditional banking and underserved communities. I am passionate about leveraging my technical and analytical skills to drive innovation that transforms people’s financial lives. OppFi’s collaborative culture and rapid growth also align with my values and offer tremendous opportunities to make an impact.
2. What is your experience using data analysis to drive business decisions?
Data analysis is key in fintech. This question tests your ability to gather data from various sources, analyze patterns, and make data-driven decisions.
Tips:
- Share examples demonstrating your analytical skills
- Highlight any technical tools/methods you’ve used
- Outline the business impact of your analysis
Sample Answer: In my previous role as a credit risk analyst, I utilized statistical analysis and machine learning algorithms to assess risk and loan eligibility. By building predictive models using application data and credit bureau reports, I improved our automated decisioning system’s accuracy by 15%. This allowed us to streamline approvals for creditworthy applicants while minimizing default risk exposure. On the fraud detection side, I used techniques like clustering algorithms, anomaly detection and natural language processing on transaction data to uncover suspicious patterns, reducing fraud losses by 20% over 2 years. Advanced data analysis will continue to be critical in driving efficiencies and insights, and I look forward to leveraging my experience in this area at OppFi.
3. How would you improve the digital loan application experience for customers?
This aims to assess your knowledge of user-centric design and your ability to think critically about improving customer experience.
Tips:
- Demonstrate understanding of key UX principles
- Provide specific examples of enhancements
- Highlight both technical and design considerations
Sample Answer: The loan application process is often a pain point for customers. To improve this experience, I would focus on simplicity, personalization and transparency. For example, we could simplify applications by removing redundant fields and providing clear explanations for necessary inputs. Data pre-fill could personalize applications by auto-populating the borrower’s information. For transparency, an eligibility checker could allow applicants to view potential rates and terms before submitting a full application. Chatbots could provide customized guidance during the process. Post-application, a progress tracker helps applicants understand where they are in the approval process. These enhancements create a seamless, user-friendly journey while also building trust through transparency.
4. How do you stay updated on regulatory changes in the lending industry?
The regulatory landscape is constantly evolving in fintech. This aims to gauge your understanding of compliance and ability to adapt to new regulations.
Tips:
- Demonstrate proactive learning approach
- Give examples of how you stay current on changes
- Share instances of implementing new requirements
Sample Answer: Staying compliant with the latest regulations is critical in fintech. I make it a priority to actively monitor regulatory changes from agencies like the CFPB that oversee lending. I subscribe to newsletters, take online courses on new regulations, and attend local fintech events to expand my network. For example, when new debt collection rules were announced, I digested the changes, identified impacted processes, and collaborated with our compliance team to implement the necessary adjustments within our systems before the deadline. My proactive approach to learning regulatory changes enables me to keep our operations compliant as the industry evolves.
5. How would you handle a situation where a customer is unhappy with their loan terms?
This aims to assess your communication skills and problem-solving abilities in a complex customer scenario.
Tips:
- Express empathy for the customer
- Demonstrate ability to probe for underlying issues
- Outline steps to reach a constructive solution
Sample Answer: I would first listen closely to the customer to understand why they are unhappy with their loan terms. I would ask probing questions to get to the root of their concerns and determine if we made any mistakes in setting the terms or explaining them clearly to the customer. If the terms aligned with our policies, I would walk the customer through the rate and term-setting process in a transparent manner and highlight the associated benefits. If the concern seems valid, I would explore options like reassessing their eligibility for better terms or alternative products. My goal is to find a solution that satisfies the customer, while ensuring we operate within legal and company guidelines. Maintaining trust through transparency and open communication is key.
6. How would you convince a merchant to adopt our lending solution over competitors’?
This question tests your ability to effectively communicate the value proposition of OppFi’s products to potential partners.
Tips:
- Research OppFi’s products and competitive differentiation
- Highlight specific benefits to the merchant
- Demonstrate strong communication skills
Sample Answer: When pitching our lending solution to merchants, I would first emphasize how seamlessly it integrates with their existing systems through our APIs compared to competitors’ offerings. This means a faster rollout and lower IT costs for the merchant. I would also highlight our superior approval rates due to our risk algorithms optimized for thin-file consumers. Higher approval rates mean increased sales and revenues. Our stellar customer support would also alleviate the merchant’s operational costs managing customer inquiries. Finally, I would share case studies of other merchants who have experienced 20-30% higher cart conversion after adopting our solution. By quantifying the benefits and providing supporting data, I can compellingly convey why our product drives the most value for partners.
7. How do you identify technology gaps in a product roadmap?
This aims to evaluate your critical thinking skills and ability to improve technical products and processes.
Tips:
- Showcase analytical approach to product evaluation
- Provide examples of identifying developmental gaps
- Demonstrate ability to translate gaps into solutions
Sample Answer: I use a systematic approach to identify technological gaps in a product roadmap. First, I research industry and competitor trends to pinpoint innovation opportunities we may be missing. Secondly, I analyze user data and feedback to uncover pain points and areas for improvement in our own products. I also collaborate with engineering teams to assess any technical debt or infrastructure constraints that may hinder implementation of enhancements. Finally, I conduct POC projects to validate the feasibility and ROI of potential solutions. For example, our roadmap lacked capabilities around personalized loan offers. By running analytics on user data and researching machine learning applications, I built a case for implementing ML-driven targeting. This analysis resulted in the addition of a personalized offers API to our roadmap.
8. Describe a time you had to explain a technical concept to a non-technical audience.
This aims to assess your communication skills and ability to simplify complex information for different audiences.
Tips:
- Set context by describing the audience and topic
- Explain your approach to simplifying the concept
- Share positive outcomes demonstrating effective communication
Sample Answer: As a data scientist, I often need to explain complex machine learning concepts to non-technical teams. Recently, when presenting a new ML model for predicting late loan payments to our executive team, I avoided using jargon and broke the process down into simple, visually represented steps. Rather than diving into the mathematical algorithms, I focused on business outcomes – highlighting how the model would reduce late payments by 10-15%. I also created a simple demo showing how factors like income, geography
Show your enthusiasm.
Is this your dream job? Maybe, maybe not. But it’s probably a good idea to treat the interview as though it was. Since you went to the interview, you have nothing to lose by giving it your all.
“Confidence is important but arrogance is a turn-off,” explained Newborn. “Interviewers want to hire people who are excited to work with them and who care deeply about the company.” That being said, a little nervous energy is great. It shows that the interview is important to you. ”.
Do your research.
Acing an interview is often about more than just having the right skills and knowledge for the position. It’s also important to have knowledge of the specific company you’re interviewing with.
A certified human resources professional, Rebecca Francoline, told job applicants to learn about the company and ask questions about the role and the organization. “As a recruiter, it’s so disappointing when the conversation is over and the person has no questions at all.” You will be spending 40+ hours a week at work, you should want to know more. ”.
Dave Lane, CEO of Inventiv Tools, offered some good resources to consider when researching your potential employer:
“First and foremost, do your research on your potential employer. Find key team members on LinkedIn and other social media sites, especially those who may be in your interview, and read their website. Find out what makes them different from other potential employers.
“If you spend an hour or two researching the company, you’ll have great chances to show how interested you are in it during the interview.” Your research gives interviewers a place to start when they want to get off script and get to know you better.
“A sentence like this goes a long way to show that you do your homework: “I read on your site that you’re doing X, which I find interesting.” I didnt see anyone else in the industry doing this. What led you to do X?’”.
How to Answer Behavioral Interview Questions Sample Answers
FAQ
What questions are asked at the B Stock Solutions interview?
What questions are asked at the Bel Air interview?
What is the interview process like at oppfi?
I interviewed at OppFi I had three stages to the interview process: a phone screen with a recruiter in HR, then a phone screen with the hiring manager, then three back to back interviews with various people. Interview questions were mostly standard questions for the role.
Would you recommend working at oppfi to a friend?
Overall, 42% of employees would recommend working at OppFito a friend. This is based on 288 anonymously submitted reviews on Glassdoor. How do job seekers rate their interview experience at OppFi? 55% of job seekers rate their interview experience at OppFias positive.
How do I get a job at oppfi?
To get a job at OppFi, browse currently open positionsand apply for a job near you. Once you get a positive response, make sure to find out about the interview process at OppFiand prepare for tough questions. Do people recommend working at OppFi? Overall, 42% of employees would recommend working at OppFito a friend.
How long did it take to get a job at oppfi?
On Glassdoor, you can share insights and advice anonymously with OppFi employees and get real answers from people on the inside. I applied online. The process took 6 weeks. I interviewed at OppFi in Jul 2023 1. Screening with recruiter 2. 30 minute interview with hiring manager 3.
