M&G Global Services Interview Questions, Process, and Tips

Q1. Asking multiple questions on collection framework
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Q2. Asking multiple questions on strings
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Q1. Tell me about yourself
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Q2. Experience in Record to report
Ans. 
Experience in Record to report involves reconciling financial data from various sources to ensure accuracy and compliance.
• Experience in preparing financial statements and reports

• Ability to analyze and reconcile data from different systems

• Knowledge of accounting principles and regulations

• Experience in identifying and resolving discrepancies

• Proficiency in using accounting software and tools
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Q1. What is Intercompany reconciliation
Ans. 
Intercompany reconciliation is the process of ensuring that transactions between different entities within the same company are accurately recorded and balanced.
• It involves comparing and matching transactions between intercompany accounts to identify and resolve any discrepancies.

• Common discrepancies include differences in amounts, timing, or recording errors.

• The goal is to ensure that the financial statements of each ...read more
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Q2. What is bank reconciliation
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Bank reconciliation is the process of comparing a company's records to its bank statement to ensure they match.
• Bank reconciliation involves comparing the company's internal financial records with the bank statement to identify any discrepancies.

• It helps in identifying errors, fraud, or missing transactions.

• Adjustments are made to the company's records to reconcile the differences between the two sets of data.

• Common ite...read more
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Q3. How do you categorize open item in BRS
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Open items in BRS are categorized based on their nature and status, such as outstanding checks, deposits in transit, bank errors, etc.
• Categorize open items as per their nature, such as outstanding checks, deposits in transit, bank errors, etc.

• Assign status to open items like reconciled, unreconciled, in progress, etc.

• Keep track of any discrepancies or issues related to open items for further investigation.

• Regularly upd...read more
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Q4. Rent paid for 3 months journal entry
Ans. 
Rent paid for 3 months journal entry involves debiting Rent Expense and crediting Cash or Accounts Payable.
• Debit Rent Expense account for the total rent amount paid for 3 months

• Credit Cash account if rent is paid in cash or Accounts Payable if rent is paid on credit

• Include the dates of the rent payments in the journal entry

• Ensure the journal entry is balanced with debits equaling credits
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Q5. Credit sales journal entry
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Q6. How do you reconcile a particular ledger
Ans. 
Reconciling a ledger involves comparing and adjusting the balances to ensure they match.
• Gather all relevant financial documents and records

• Compare the transactions in the ledger with the corresponding entries in the bank statement

• Identify any discrepancies or errors

• Adjust the balances by making corrections or journal entries

• Ensure that the ending balances match after reconciliation
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Q7. If there is credit in BRS from unknown source,so how will you identify this
Ans. 
To identify credit in BRS from unknown source, analyze transaction details, check for missing invoices or receipts, and investigate further.
• Review transaction details in BRS for any clues or references to the unknown source

• Check for missing invoices or receipts that could potentially explain the credit

• Investigate further by reaching out to relevant departments or vendors for clarification

• Compare the credit amount with ...read more
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Q8. Any process improvement
Ans. 
Implemented automated reconciliation process resulting in 50% reduction in errors
• Identify bottlenecks in current reconciliation process

• Implement automation tools to streamline data matching

• Regularly review and update reconciliation procedures

• Provide training to staff on new processes and tools
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Q9. Greatest achievement till date
Ans. 
My greatest achievement till date is successfully leading a team to implement a new reconciliation system, resulting in a 20% increase in efficiency.
• Led a team to implement a new reconciliation system

• Achieved a 20% increase in efficiency

• Received recognition from senior management for the successful project completion
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Q10. Activities in previous job
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Q11. Why are you looking for change
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Q1. Scenario Based question, how would you establish DPO for a new country/Office?
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Q1. Cut-E test is a CBT with no right or wrong answers, it's a complex personality test which lets the employer know if the candidate aligns with theri company values. Hack, go with the JD and select what suit...read more
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It was me and 2 of my managers discussing the real life challenges of implementing privacy.

Q1. What are the types of risk
Ans. 
Types of risks include strategic, operational, financial, compliance, and reputational risks.
• Strategic risk: Risks related to the organization's long-term goals and objectives.

• Operational risk: Risks arising from internal processes, systems, or people.

• Financial risk: Risks related to financial markets, investments, or funding.

• Compliance risk: Risks associated with failing to comply with laws, regulations, or industry s...read more
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Q2. What is secondary risk
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Secondary risk is a risk that arises as a result of implementing a risk response plan.
• Secondary risks are risks that are not initially identified but emerge as a result of implementing risk response plans.

• These risks can be caused by the chosen mitigation strategy or by the impact of the primary risk itself.

• It is important to monitor and manage secondary risks to prevent them from becoming major issues.

• Examples include...read more
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Q3. What is risk appetite
Ans. 
Risk appetite refers to the level of risk an organization is willing to accept in pursuit of its objectives.
• Risk appetite is determined by the organization's tolerance for risk and its overall strategic goals.

• It helps in setting boundaries for risk-taking activities and decision-making processes.

• Different organizations have different risk appetites based on their industry, size, and risk management culture.

• For example,...read more
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Q1. What does accrual means
Ans. 
Accrual refers to the recognition of revenues and expenses when they are incurred, regardless of when cash is exchanged.
• Accrual accounting matches revenues with expenses in the same accounting period

• It provides a more accurate representation of a company's financial position

• Accruals are recorded as adjusting journal entries at the end of an accounting period

• Examples include accrued interest, salaries payable, and accou
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