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World Bank Group - Economist - req18322

1. Tell me about yourself (1-2 minute overview focusing on relevance to the position).

 I am an experienced expert and a research analyst at CBRT’s Structural Economic Research Department. I am a specialist in real sector analysis, risk, and banking. I am responsible for preparing ad-hoc reports and notes for the upper management about the systemic and credit risks of the financial and non-financial sectors, financial stability, and development issues.

I have also worked on establishing the departmental research and reporting data warehouse coordinating efforts with the Statistics Department and on the design. For the last year and a half, I have been tasked with managing the editorial work of the CBRT's online publication Central Bank Review, hosted by Elsevier. Recently, I was selected as a tutor/trainer for an in-house position to teach Data Analytics and Visualisation, Data Mining, and Machine Learning subjects.

Before I moved here, I have worked in the Statistics Department for about 19 years. I have worked on many projects along with many other duties related to real sector statistics. I have made a lot of improvements, led project teams and task groups, delivered projects of all different scales.  I have inspired the designs of many projects which are still in use in the bank and other institutions and represented the bank both abroad and domestically.
Over the years, my focus was on real and financial sectors within financial stability and macro-prudential policy-making framework. My work has been a crucial source of contribution to supporting the policy-makers.
I have always had a heavy workload spread around the year with challenging deadlines and tight time budgets. I could manage these challenges and be productive by being highly organized and thorough meticulous planning efforts. One last thing I should say, all these years I have dealt with large datasets and I have become comfortable in handling them productively and efficiently.

Over the years I have worked for the CBRT, my job has involved an extensive focus on the real and financial sector analyses in financial stability and a macro-prudential policy-making framework. In this endeavour, my work has been a crucial source of contribution in supporting the policymakers. My past and current work schemes have required a considerable extent of analytical skills, which have proved to be vital in the achievements of my practical experience as well as my theoretical work.

My particular work scheme in the CBRT has always involved a very heavy workload spread all around the year constrained by very strict deadlines and by very tight time budgets, all quite challenging. I have learned through the years how to manage these constraints and transform the stress and uncertainty along with it into productivity rather successfully by being highly organized and thorough meticulous planning. I have had longer than 10 years of experience in leading project teams successfully. I have also had inter-organizational experience in data management issues both within the country and abroad in meeting and/or co-working levels. As to statistics and data issues, I can comfortably say that the heavy workload I carried through these years involved dealing with very large datasets, processing them, and turning them into information for policymaking.

Currently, I am working as a research analyst in the Structural Economic Research Department of CBRT, and as a seasoned expert in real sector analysis, risk, and banking. My current responsibilities involve the coordination of the establishment and the development of research and reporting data warehouses. I am also responsible for preparing ad-hoc reports and research notes and papers for the upper management regarding the credit and systemic risks of real and financial sector firms, as well as the financial stability and economic development issues. I have also been responsible for editorial issues related to the CBRT’s online publication Central Bank Review hosted by Elsevier, for about a year. Recently, I have applied for an in-house tutor/trainer role and I hope to train the next generation colleagues in mostly data analysis and reporting issues.

For all the years I have worked at the CBRT, my job has always required meticulous work in managing the data. My approach to data, in general, is to put an effort to acknowledge the possible uses of the data in question, at first, if I have a first-time encounter with it rather than catering to it myself to fill a need. This usually, essentially means a reasonably deep mental focus on the whole process for me, involving all the details from the collection to possible outcomes/end products. If the need for data arises from an end-product or a prospective design then I look for the raw data, possible sources for it, and for ways of obtaining the most optimal way of collecting the cleanest data as quickly as possible. Further, I try to imagine the data processes, draw simple flowcharts, and write the pseudocodes as much as I can if possible.

The datasets I’ve worked on in particular have included the credit/loan data, bank financials, and individual real sector firm financials. Those datasets are mostly very granular and complex if not highly frequent (from daily to annual), and very large given the number of individual unique IDs and spanning a range of 15-20 years depending on the datasets. As detailed in my CV, my work has encapsulated all ranges of subprocesses including the data collection to the production of final reports published, ensuring high quality in the data in terms of integrity, validity, and accuracy at all times as much as possible.
During the years I’ve worked, at the Statistics Department particularly, I’ve either managed project teams as well as task groups or I’ve individually run projects which I independently designed. Those projects and tasks themselves involved extensive use of analysis and reporting applications (e.g. SAS, Business Objects, Oracle BI, sometimes Excel and VBA) which I also employed to carry out a considerable amount of work. I also have used statistical and mathematical analytic methods, especially in both project designs and in preparing report templates. I further employed data mining and machine learning methods both for data analysis, pattern recognition, and rule learning although not extensively. Also worth mentioning, I have designed numerous interactive and dynamic data forms, and reports as well as a web-based reporting platform using SAS, Business Objects, Oracle BI, VBA, and QlikView, and helped the crew maintain CBRT’s Electronic Data Delivery System (https://evds2.tcmb.gov.tr/index.php?), in the absence of now available data analysis and visualization tools like Tableau and MS Power BI.

 I am an experienced expert and a research analyst at CBRT’s Structural Economic Research Department. I am a specialist in real sector analysis, risk, and banking. I am responsible for preparing ad-hoc reports and notes for the upper management about the systemic and credit risks of the financial and non-financial sectors, financial stability, and development issues.

I am also responsible for managing the departmental data warehouse. I was transferred from the Statistics Department five years ago for this and my other capabilities relating to the real and financial sector research and statistics background.

For me, data analysis has two perspectives: researcher and end-user.
I believe a researcher should have an innate drive for data analysis before anything else, and a statistician should have more so. Preliminary data analysis constitutes an essential basis for any type of analysis. With this in mind, I have always valued data wrangling as the first and foremost step for analysis and decision-making. I have spent almost 60 percent of the time throughout my whole working life dealing with all the facets of the data exhaustively. It included all stages from the collection to analyzing and producing reports and further supporting the policymaking.

From a naive user's perspective, on the other hand, data comes last as they usually just want a result that would tell them almost exactly what they need to do. That is to help them make an informed decision. For an analyst, the needs and demands of the end-users are paramount as they determine the schema for data procurement efforts and constrain the data evaluation being part of the establishment of the objective function and targets. Therefore, for an analyst, though a clear-cut definition of the problem and a perfect data source would be the best, rarely do these two come together. Thus, especially data procurement can be defined as a dynamic and recursive process, that demands a continuous back and forth until an optimal model is built; therefore a model-driven one.

 

2. Why are you interested in this position/unit?
 First off, I should say that I believe, working in a place that values (Impact, Integrity, Respect, Teamwork, Innovation) challenge, collaboration, initiative-taking, self-development, and that fosters leadership would be a good one for me. I admit that I have not directly worked with any cash data before. But, I reckon for those who have dealt with large amounts of complex datasets with high granularity and frequency, any data framework has a high potential to be acquainted with easily and comfortably. Furthermore, I have more than 20 years of experience handling data about bank loans and financials, trade credits, individual company financials, and macroeconomic statistics like GDP, exchange rates, and interest rates on loans.

Along with the leading, mentoring, advising capacities, and I have considerable expertise and experience in data matters.  Besides, I believe my problem-solving skills, drive for perfection, and nimble-mindedness to improvise and innovate would be useful and my experience in the CB would align with this job's requirements if not perfectly. Let me explain. I have had numerous incidents where I had to deal with crises of different scales. (2011 Company Accounts Crisis). I guess this would make a sufficient example of how I could succeed in the advertised position.

What I can bring to the table .....
Data Strategy ......
Data Management Handbook
Projects Management (YEAGM, RSVFSAP,
Data Mining (Thesis, paper 

Our Core Values,    Impact, Integrity, Respect, Teamwork, Innovation

1. Understand the job: Look over the job description and note keywords that the hiring manager will want to hear that also align with your own skill set. This will reinforce that you're a perfect fit for the role.
2. Research the company: Doing so will provide a clearer understanding of various aspects of the company, its culture, and its long-term goals and strategies. Most company websites also include a mission statement and bios of company leaders that may inspire you. You can find keywords on the website as well that you can incorporate into your answers.
3. Explore their media coverage: Search beyond the company website and learn how the company and its leaders are viewed by the media and the public. Research media coverage, press releases, and social media presence on various platforms.
4. Reach out to your network: If you’ve been in a specific industry for a while, there’s a good chance that your network overlaps or has connections to the company where you’re interviewing. There are multiple social media platforms that will show those connections; create a list of people you can reach out to in order to get more information.
5. Outline your career path: Consider where you see yourself in a year, three years, and five years in your career. What are the roles you need in your career trajectory to achieve those goals?
6. Find alignment: After looking through all your research of the company and the people who work there, what aspects align with your career timeline? What keywords from their website and media coverage can you highlight to connect yourself to this company?
7. Find specific examples of reasons to work with them. This could include the company’s reputation, admiration for their products or services, wanting to work with their company values and culture, or being inspired by the company’s leaders.
 

3. What do you know about us?
The World Bank Group consists of five organizations:

The International Bank for Reconstruction and Development
The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and creditworthy low-income countries.

The International Development Association
The International Development Association (IDA) provides interest-free loans — called credits — and grants to governments of the poorest countries.
Together, IBRD and IDA make up the World Bank.
 

The International Finance Corporation
The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.
 

The Multilateral Investment Guarantee Agency
The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.
 

The International Centre for Settlement of Investment Disputes
The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes.

Projects
The World Bank provides low-interest loans, zero to low-interest credits, and grants to developing countries. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Some of our projects are cofinanced with governments, other multilateral institutions, commercial banks, export credit agencies, and private sector investors.

Products and Services
The World Bank provides a suite of financial products and technical advice and analysis to address development challenges, helping countries find solutions to achieve sustainable and inclusive development.

1. Advice and Analytics
The World Bank undertakes analytical and advisory activities to inform country, regional and global development agenda in line with its commitment to the twin goals of eliminating extreme poverty and boosting shared prosperity in a sustainable manner.

2. Financing
We finance government programs to support achievement of country development objectives, and support policy and institutional reforms of national and subnational governments by providing budget financing and global expertise. We also finance public projects to build physical and social infrastructure, and develop institutional capacity.

 

4. Why do you want to leave your current position?
For a better job and for a better place in a more reputable institution. What more could I ask for?

 

 

 

 

 

 

5. This job, has as a key component, X. Give us an example of a time when you have had to…
(a component or function of the job as detailed in the announcement).
 

 

 

 

 

 

6. In this position, you will have to… (key challenge of the job as detailed in the job announcement). Tell us about a time when you have had to. (key challenge).
 

 

 

 

 

 

7. What would you do if you found you were unable to. (stress factor you have been able to identify from the announcement)?

 

 

 

 

 

 

8. Tell us about a project when things did not go as planned.
 Another thrilling example of a once-in-a-lifetime challenge happened about 11 years ago. I was at the banks for 13 years and was just a senior specialist and did not have a formal and official managerial title. My management experience was limited to leading roles in project and task groups in the division at the time. Honestly speaking, I was happy with the geek role since I have always thought I wasn't too much of a people person when it comes to managing. Anyway, important things happened that year. I was working as a part of a team with very experienced members, especially the middle and upper management. Those who once designed the first generation were all transferred to other posts at the bank. Unfortunately, the only person with all the technical details of the business was me. The Company Account Statistics Report was meant to be published exactly on the 15th of November, as it was made part of the official statistics calendar that very same year. Before then the publication date was flexible and usually two months after the new one. Another problem was that we couldn't find the storage media (CDs) with which we used to collect the data,  as the person responsible for the data collection was transferred to our post in London on short notice. All these, we have encountered when we only had about two months left to the publication deadline. After a thorough search when we finally found the CDs we had only 50 days left for production. So I made a decision to take the initiative and the responsibility for the publication on the advertised date. I made a broad and simple plan. I would process all the data myself by using VBA codes instead of letting my colleagues do it. Otherwise, they would have to use the VB application and process each form individually which would be time-consuming. Processing some 15000 individual forms in batch would seriously increase the speed and lower the labor time as well as lower the errors. So I wrote some 2000 lines of code in a week and processed the whole data myself. The only thing left to my teammates was to upload the data in the individual forms into the database. Since I did not want to lose time learning the specifics and break the integrity of the VB application, I found the solution to batch filling in the forms with error-free data again with the VBA codes. Then I let my colleagues batch process and upload these forms into the database. We ended up with some 13000 individual forms that could be used for the production of Company Accounts Statistics for that year. We had about three weeks left, and with some overtime spent, we could manage to finish the whole study two days before the deadline. We were all content since the CBRT did not have to lose its credibility by not publishing on a strict deadline. I was very happy too since I  succeeded to keep my promise to deliver on time, and for solving an obvious crisis. By taking the initiative, I ended up proving that I could operate the whole system very efficiently through meticulous planning.
I learned an important lesson from all these incidents. We had to carefully plan everything, especially the human resources. Later on, as we still did not have enough expertise in such a short time, I decided to do an HRAnalytics study I devised to determine the shortage of workforce, and I could manage to persuade the upper management and secure five posts to be filled with recruits to train for our work.

 

 

 

 

 

 

9. Give us an example of a time when you had to work under pressure and tight deadlines. How did you handle it?
 

 

 

 

 

10. Describe a time when you had to face a conflict on a team and how you handled it.
 

 

 

 

 

11. Tell us about a difficult decision related to work that you had to make.
 

 

 

 

 

12. Give us an example of a time when you motivated others.
 Motivation isn’t a one-size-fits-all solution, so I like to really get to know my team on an individual level.  I feel like this gives me a good feel for what works for each person.
I believe non fınancıal rewards are usually more effectıve than the fınancıal ones. Still, depending on an employee's character they may also substitute each other. Therefore, I would try to learn what would motivate them by asking them. Involving, trusting, inspiring, appreciating what they do, rewarding, challenging, and celebrating are ways to motivate the employees.
Once, I was leading a small task force with a lot of work to be handled in a very short period ofo time. Everyone was very stressed. I thought I could motivate the people by involving the members in the planning efforts. We planned together the work calendar with targets, resources, etc. This careful and naive behavior encouraged them to play by the action plan and fortunately, we could finish our duties by their deadlines.
 

 

 

 

 

13. Would you say you are more of an individual or a team player?

14. No one is perfect. Where do you think you might still need to improve? (Think about one skill that can be improved through learning and that you have worked on/are working on.)

I believe my greatest weakness would be my perfectionism when it comes to work. Regarding statistics production, perfecting the end product is not always achievable, since the input or raw data usually includes defects and errors. Endeavoring to serve the best outcome does not guarantee these results. Therefore, perfectionism makes you feel stressed at times. But now I can say through the years I have learned that given the data is not totally error-free or flawless, the optimal solution, not the perfect one is the best solution. I should again say, however, we should always look for continuous improvement in all types of processes including the output whether a set of statistics or a report, and internal processes to handle the input. For example, automation in data handling compared to a manual or a visual one, lowers the processing time, decreases the errors, and saves precious labor time that can be channeled to personal improvement and training. Therefore, it is one among many improvement efforts on the way to a perfect outcome.

15. What would your current manager say about your performance?
 

 

 

 

 

 

16. What would your colleagues say about you?
 

 

 

 

 

17. What has been the most frustrating part of your current role?
 

 

 

 

 

 

18. What would you consider the most significant accomplishment in your career so far?
 

 

 

 

 

19. What do you think you can bring to this department/unit? (How can you add value?)

 1. Professional experience in data analysis, as well as in the collection, compilation, and dissemination of statistical data: Through the years I have worked at the Central Bank (CBRT), my job description was not limited to data collection, compilation, dissemination, and analysis. During my 19 years in the Statistics Department, I have made significant contributions in various fields, from the design phase to the realization of many projects at diverse levels. For example, while working on the old system used in the production of the Company Accounts, one of the most important reports prepared by the Real Sector Data Division, I contributed to the design phase of the second-generation platform. After a while, all stages of the third-generation platform "Integrated Company, and Real Sector Analysis Platform" except coding, were prepared and implemented with my initiatives and efforts. I have also made significant contributions at every stage of many other principal studies and projects. 

2. Experience in applying and/or developing quantitative research methods in compliance with standard statistical principles. In principle, a researcher should consider every viable approach in carrying out his/her work, both quantitative and otherwise. Hence, in CBRT’s Statistics and Structural Economic Research units, quantitative research methods have been the dominant design and operational factors determining the framework in the majority of the tasks I have carried out. Cross-sectional, longitudinal, and panel data models have been decisive in the empirical studies and reports I have conducted in the statistics unit. Correlational, causal-comparative, and experimental research methods have set the framework for conceptual, theoretical, and empirical studies in the structural research unit and my academic studies in general. Additionally, Data Mining and Machine Learning techniques have formed the analytical framework I have used in some of my empirical studies since 2002. Recently, as an extension of Data Mining and Machine Learning methods, I started working on Deep Learning in the Google-Colab environment. 

3. Experience in using statistical software packages (e.g. STATA, R) as required: Research implores the same flexibility in choosing research tools just as in selecting the research method to analyze a subject. For me, the same principle applies where the content of the relevant research topic is the prime determinant of the software to be used. Therefore, though I am not an advanced expert in any specific software, I have had training in a range from introductory to advanced levels in most. I also had extensive experience in most common statistical, database, analysis, and reporting applications for a given field of research. While using MS Excel, VBA, and SAS software in data collection and processing, I employ Eviews, Matlab, Stata, and WEKA for analysis purposes. For Data Mining and Machine Learning analyses, I use WEKA and purpose-built Java codes, and for network research, I employ NodeXL. I also started learning Python, R, and JavaScript but they are still at an intermediate level. 

4. Experience in the management of international statistical databases and the production of statistical data at the international level: Having worked as the representative of CBRT before ECCBSO for three years, I made the necessary theoretical and conceptual preparations for the harmonization with the BACH database. We could not integrate the data with any of the databases during that period due to structural inconsistencies at that time. However, It is now possible to contribute to the current databases, and shortly, it will be possible to integrate with the BACH database, mostly based on the preliminary studies I did. The ECCSBSO databases for which Turkey's data are available today are the Trade Credit and Financing Cost Data Bases, which are under the responsibility of the ERICA and FSA Working groups. One can obtain information about those databases at https://www.eccbso.org/wba/databases. 

5. Experience in developing methodological statistical standards: My work descriptions had always involved using and manipulating/fine-tuning (if not developing) statistical standards at both usage and design levels, including all stages. Design efforts, like platform development, user interfaces, data forms, online manuals, and WIKI pages, all designate some sort of statistical standard for data to collect and use. Hence, though I cannot specifically identify a particular standard, I developed or helped develop; I can comfortably say that examples include some of them in a couple of my works. I can tell “Integrated Company and Real Sector Analysis Platform”, “Integrated Structural Economic Research Department Database, and Data Warehouse Research Platform”, to name a few. For details, please refer to the resume or have me refine the matter if needs be. 

6. Experience in project management, as well as evidence-based policy formulation: As described on my resume, most of the work I carried out in the Statistics Department, involved project management by definition. From the very early days on, I worked on all stages of several projects and managed the most. All, as they were meant to assist the policymakers in their decision-making, involved design criteria for policy formulation from the very start. “Integrated Company and Real Sector Analysis Platform” and “Integrated Structural Economic Research Department Database, and Data Warehouse Research Platform” were designed for helping them analyze the real sector, “Bank Financial Stability, Strength and Rating Estimation, and Evaluation Project” for the analysis of bank and real sector relationship, etc. Other projects listed on the CV can be further examples of those projects I worked on at all stages through the years. 

7. Experience in education and training of colleagues as part of personal development strategy: As a considerably recent development in my career, I have been selected as an in-house tutor for Data Analytics and Visualisation, Data Mining, and Machine Learning subjects. Though I haven't started teaching yet, in a couple of months this will probably be a part of my curriculum/agenda.

INTERVIEWING SUCCESSFULLY (BY WBG)

Introduction

 Successful interviewing requires the ability to clearly demonstrate you have the qualifications and qualities the interviewer and the organization want in the ideal candidate, as well as to determine if the candidate is a good fit for the organization and how you can add value. Preparation and practice is a key component to successful interviewing.

Contacted for an Interview?

BEFORE THE INTERVIEW:

> Respond promptly to show interest. Express thanks for the opportunity and get specifics on logistics:
address, special entry requirements, and the names of those with whom you will be interviewing. You will need these names so that you can research these individuals prior to your meeting.
> Research the interviewers, the organization, and the sector/department/ division. In addition to reading, talk with others who might have knowledge. Based on what you learned, prepare questions you
can ask about the organization, department, and/or position. Show, through these questions, that you are
knowledgable and that you have done your research.
> Review the position announcement and the value you will bring. Make a list of what is required and
desired; then, make a comparable list of what you can bring to the organization to meet these requirements. Think about experience, strengths, education, and feedback others have given you about your work and about you as a person.
> Consider relevant accomplishments or projects you have undertaken. Review your résumé to remind you. Using STAR (Situation, Task, Actions, Results), prepare “mini-stories” that describe your
accomplishments and demonstrate your ability to meet the position requirements.

> Two critical things that every interviewer wants and needs to know are why you want this particular job and what value you will bring. Think carefully about this. A desire to escape your current position or to get a promotion is not an appropriate response.
> Prepare and practice a focused, two-minute overview of your career (experiences, skills, technical
qualifications, interests) as it relates to this position. Interviews often begin with a variation of the “Tell me about yourself” question.
> Develop and get completely comfortable with interview questions and formats. Practice responses
to any “sticky” interview questions that you are worried about being asked. Prepare for “typical”
interview questions as well as behavioral questions where you will provide specific examples of things you have done that relate to the position. Consulting firms may use a case interview format; prepare accordingly.

Plan ahead:

> Determine your interview outfit in advance rather
than the night before. Professional attire (e.g. suit) is
expected for an interview.
> Know the location and plan to arrive 15 minutes
before the interview time. Factor in traffic or
possibly getting lost.
> Pack your bag: Prepare the materials you are taking
with you (i.e. copies of your résumé, portfolio, writing
samples or publications).

DURING THE INTERVIEW:

> Be confident. Think about this interview as an information exchange. You are trying to determine
what needs exist that you can meet and the organization is trying to determine if you can do the
job, want to do the job, and will be pleasant to work with as a colleague. As Amy Cuddy, social
psychologist and researcher from Harvard, tells us (Your Body Language Shapes Who You Are
http://www.ted.com — highly recommended): Breathe deeply, take up space, and stand tall. Show
your confidence and you will feel confident.
> Do what makes you calm. Breathe deeply, read a motivational quote while waiting, visualize a positive experience about to happen and the after-interview feeling of success – whatever it takes to help you relax. Silence your cell phone.
> On arrival, give a firm handshake to each person you meet and smile. A smile is the first thing to go when one is nervous and yet, it’s a critical factor in developing rapport.

AFTER THE INTERVIEW:

> Within 24-48 hours, send an individualized thank you letter/e-mail to each person who was in the interview with you. Customize each in case the letters land side-by-side or are compared. Consider the role each person plays and tailor your comments to this. Include a few ideas discussed as well as anything you forgot to mention. Stress why you believe you are uniquely qualified for this position.

Behavioral Interviews

Behavioral interviewing

> is based on the premise that past performance predicts future performance.
> ask for examples in your past that demonstrate key competencies required for the position for
which you are interviewing.
> can be entirely behavioral or a combination with other interview styles.

As a candidate, you can use behavioral interviewing techniques to your advantage if faced with a
traditional interview format. By citing specific examples of past performance, you build credibility
and demonstrate that you can meet the job requirements.

To prepare for a behavioral interview,

> review the job posting to identify the key competencies required.
> determine the specific non-technical requirements to be met by the person taking this position.
> make a list of specific examples of things you have accomplished in your experience that
demonstrate the competencies required and needs to be met.
> identify 6-8 of these examples where you demonstrated key requirements and skills for the
position.
> prepare a brief mini- story for all these examples (again using the STAR model as mentioned on page 2).

The behavioral interviewer can, and often will, drill down for more information by using follow-up questions. Practice telling these stories so that you can tell them clearly and concisely, without rambling. Examples of behavioral questions (with competencies they are designed to assess):

1. Tell us about a time when you had to deal with a difficult client. What happened and were you
successful? (conflict management, interpersonal strengths)
2. Could you give us an example of a time when you had to handle conflicting priorities? (multitasking, organizational and planning, and communication skills)
3. Tell us about a time when you had to manage a team of people who did not want to work together. (leadership and teambuilding skills)
4. Describe a decision you had to implement that was unpopular and how you did it. (engaging stakeholders and developing collaboration)
5. Give us an example of a time when you had to develop an innovative solution to streamline operations or improve product or service delivery(innovation)

The Interviews

Phone interviews are used as an initial screening mechanism to determine which candidates should be
invited for in-person interviews. They are usually brief: 20-30 minutes.

If you are contacted and unprepared, ask if you can schedule a future convenient time and provide alternate dates/times rather than move into the interview unprepared.

Prepare as you would for an in-person interview, including doing some research about the positions, the business context and the specific requirements and prepare your examples and your mini-stories (see page 6).

If this is an initial screening interview by Human Resources, the interviewer may be more interested in
covering details of your résumé. In this case, be prepared to discuss job transitions as to why you moved from one position to the next. Respond factually, positively, and with confidence. 

Ensure you are away from all noise and distractions. Consider using a landline if you are at all concerned about cellphone reception.

Smile! A smile can be heard over the phone as confidence and warmth. When you smile and talk, your tone will be upbeat andpositive.

Many prefer to stand up when talking or sit up straight vs. being relaxed in a chair. The intent is to send energy and reflect confidence. It is suggested that you also consider dressing professionally so that you feel as if you are in an actual interview.

> When the conversation is ending, thank the interviewer and ask if itwould be possible to meet in person.
> Take notes on what you learned immediately after the conversation. Send a follow-up thank you e-mail within 24-48 hours to the interviewer, restating your interest in the position and summarizing what you uniquely will bring to the position.

Panel Interviews

A panel interview is a personal interview held with three or more people. In addition to all the basic recommendations mentioned on previous pages for interviews in general, keep in mind the following as tips for this specific situation: 

If possible, get the names of the panel members in advance. This information will help you to feel more comfortable about meeting with them. Also, this enables you to send personalized thank-you notes to each panel member after theinterview. 

Bring extra copies of your résumé to share in the event that someone on the panel has not yet seen it or joins the panel at the last minute. 

Make a strong first impression. As panel members are introduced to you, smile, make eye contact, and greet them using their names. When possible, shake each panel member’s hand. Ask permission if you want to take notes but realize that it is distracting for a panel to watch a candidate write during an interview so use any notetaking sparingly. It is inadvisable to write down questions you are asked. 

Share your attention with everyone on the panel. When answering questions, make initial eye contact with the person asking the question and then try to briefly look at each of the other panel members as you are talking and make a connection with the entire panel. As you end your answer, look at the person who asked the question to see if you need to provide more information. 

Continue to engage all panel members. Use a panel member’s name, when answering, and consider the panelist’s organizational role as you respond. Also, show the relationships between an answer you are giving and a prior panelist’s question, when appropriate, to keep panel members engaged. For example, “This actually ties into what Paul asked earlier about...” 

Ask for clarification if you don’t understand a question and give yourself time to pause and reflect, if you need it. It’s better to think through an answer than to answer incorrectly or ramble.

Prepare for group dynamics. In a panel interview, there are different personalities and interviewing styles. You may be able to tell if someone is in doubt or not as open to your responses. Try to give a clear, confident response to this person. Try to establish rapport with as many as possible but also realize that you may not be able to satisfy all interviewers with your responses all the time.

Prepare for interruptions. It is not uncommon to have someone enter late or have to leave early to catch another meeting. Stay calm and carry on.

Prepare for two questions asked simultaneously. In a panel interview, it is not uncommon for two questions to be asked at once, based on the fact that there are multiple people trying to get information. This can feel stressful. If asked more than one question at a time, answer one and then go back and ask for the other question to berepeated.

You may have to repeat a response. In a group interview, not everyone hears everything the same way. Do not be surprised or feel impatient if you are asked the same question twice or asked for further clarification on something you have already explained.

Questions from you are expected, so have questions ready to ask about the work or the group. These questions should reflect your research. If you can address these questions to different panel members, you will continue to keep panel members involved and interested in the interview (and in you).

Thank all panel participants. At the end of the interview, make eye contact with all and try to shake hands with each person. Follow the interview by sending an individualized thank-you letter/e-mail to each panel member. Customize each letter in case the letters land side-by-side or are compared. Consider the role each person plays and tailor your comments to this. Include a few ideas discussed as well as anything you forgot to mention. Stress why you believe you are uniquely qualified for this position.

Practice Interview Questions

There is no one set of questions, as you know, for every interview. However, by reviewing and developing responses to the questions below, you will gain confidence and focus in talking about
yourself which is a major goal of interview preparation.

Possible interview questions

1. Tell me about yourself (1-2 minute overview focusing on relevance to the position).
2. Why are you interested in this position/unit?
3. What do you know about us?
4. Why do you want to leave your current position?
5. This job, has as a key component, X. Give us an example of a time when you have had to…
(a component or function of the job as detailed in the announcement).
6. In this position, you will have to… (key challenge of the job as detailed in thejob announcement). Tell us about a time when you have had to. (key challenge).
7. What would you do if you found you were unable to. (stress factor you have been able to identify from the announcement)?

8. Tell us about a project when things did not go as planned.
9. Give us an example of a time when you had to work under pressure and tightdeadlines. How did you handle it?
10. Describe a time when you had to face a conflict on a team and how you handled it.
11. Tell us about a difficult decision related to work that you had tomake.
12. Give us an example of a time when you motivated others.
13. Would you say you are more of an individual or a team player?

14. No one is perfect. Where do you think you might still need to improve? (Think about one skill that can be improved through learning and that you have worked on/are working on.)
15. What would your current manager say about your performance?
16. What would your colleagues say about you?
17. What has been the most frustrating part of your current role?
18. What would you consider the most significant accomplishment in your career so far?
19. What do you think you can bring to this department/unit? (How can you addvalue?)

Possible questions to ask at the interview

Review the position’s context and mission objectives. You can inquire about growth priorities, how innovation is encouraged, how client satisfaction is measured - in other words, questions developed from your research - as well as questions regarding the position.

1. What are the greatest challenges facing this position?
2. What would be the first issue that you would want me to address? or What would you like me to accomplish in the first 60-90 days?
3. How would you describe the ideal candidate for this position?
4. What are the key performance indicators for this role?
5. What are the reporting relationships in this position?

Post-interview Thank You Letter/ E-mail

> Send a thank you letter within 24-48 hours.
> If you send an e-mail to each member of an interview panel, customize and individualize each one as your e-mail may be read and compared by all members of the panel. An option is to send one e-mail to the panel chair, thanking the chair and the panel members.
> Focus on being concise and to-the-point. This is a short letter.

Dear X:

First paragraph (and possibly a second): Thank the interviewer(s) for taking the time to meet with you and restate your interest in the position. Try to recall something from the interview or comments/questions that were of interest or helpful to you. Highlight specific skills and experiences that will enable you to bring value to the organization. Here is also the place to mention anything you forgot to discuss in the interview or to elaborate on items discussed.

Second – third paragraph: Restate your appreciation for being considered and your belief in being able to make a strong contribution. Indicate that you are looking forward to hearing from him/her soon. 

Sincerely (Best regards, etc.),

Your name, e-mail, and phone number

Useful phrases:

> I enjoyed meeting with you to discuss...
> I appreciate the importance of...
> From our discussion, I...
> I was impressed by...
> I am excited about this chance to...
> I believe I can... I feel confident that I can...
> After reflecting on our meeting...
> I also wanted to mention that...

CREATING A STRONG RÉSUMÉ (BY WBG)

 This excerpt is exactly copied from WBG for self-educative purposes

Introduction

The résumé is a career marketing document that takes time and attention to create. The main goal of the résumé is to get invited for a personal interview. This guide is a self-directed resource to get you started, as well as to complement what you learn in one of our workshops. It can also help you prepare for a meeting with a career advisor so you can have a more productive session. It contains a number of resources to help you create and revise your résumé in order to align it with the targeted position and highlights relevant skills, accomplishments, and qualifications.

How to Write Accomplishment Statements

When viewing your CV/résumé, employers look for accomplishments rather than a description of your responsibilities. Accomplishment statements appear at the top paragraph on your résumé and they demonstrate your proven ability to summarize what you have achieved in former positions. 

One suggested format is to begin your description of each position with an overview of the job, i.e., what you helped do, figure out, or answer in your role; who you served; your budget; the region you were responsible for; the number and kind of staff you managed or were a part of; product or service lines, etc. 

After this brief overview, what employers want to see is what you achieved on the job – and this is where accomplishment statements have value. Accomplishments refer to actions you have taken that show results or impact as opposed to tasks or effort. In other words, employers want you to differentiate
yourself by showing why your actions have mattered and what difference you were able to make. The following examples show the impact of using accomplishment-driven statements.

> Relocated office over one weekend, planning and coordinating the logistics. (good)  

> Relocated corporate office of 130 staff members over one weekend, planning and coordinating
the logistics to result in zero disruption to operational schedules and productivity. (better)

> Managed international development conference, coordinating all aspects from planning through
implementation. (good) 

> Managed a 2-day sustainability conference for 175 professionals from 6 regional offices. Planned and coordinated event logistics. Communicated with all participants and presenters. Result: ratings of “outstanding” by 95% of participants regarding event logistics, communication, and materials. (better)

> Developed new presentation methods for annual meetings to make presentations more interesting to participants. (good)

> Developed innovative presentation methods for annual meetings using visual effects technology. Increased viewer interest through video imagery and creative visual effects, resulting in specific feedback on improved presentation methods by more than 85% of participants. (better)

To write accomplishment statements, follow this two-step process:

• Before you start writing your résumé, think about each position you have held and create a list of accomplishments that are related to the kind of work you are pursuing. Always use results, measurable impact and metrics when describing accomplishments.

• To help you to develop this list, ask yourself if you:

> increased efficiency or effectiveness
> accomplished more with fewer resources
> initiated or implemented something that went
above and beyond what was in your job
description
> designed and implemented a technique, strategy,
innovation, or improvement
> solved a challenging problem
> did something that improved client relations or
resulted in greater stakeholder engagement
> improved a process
> saved money, time, or other resources
> implemented a policy, procedure, system, or best
practice
> were recognized informally by clients
> Authored or co-authored a published article or
book
> improved profitability
> enhanced productivity
> contributed something that was above and
beyond

Sometimes, looking at past performance reviews will
help to jog your memory of accomplishments.
Also, consider feedback you have received from
managers, colleagues and clients.

> Use the STAR model to write your accomplishment statement. STAR stands for:
S = Situation solved or opportunity created
T = Tasks that needed to be done
A = Actions you took
R = Results achieved

For each accomplishment statement, briefly tell:

> What was the SITUATION: What was the problem, need, or issue?
> What TASKS needed to be done: Describe the challenge and expectations.
> What ACTION did you take: What was your role? What did you do? What challenges did you
overcome? What steps did you take? What
techniques did you use?
> What were the RESULTS? What was the impact of the actions you took? What were the benefits:
Quantify the results whenever you can, using metrics such as numbers, $, %. When you cannot
quantify, show the impact of your action (i.e., saving time, increasing efficiency, strengthening communication, streamlining operations, building relationships with external stakeholders, expanding product lines).

Key success concepts in writing STARs are:

- Start each with an action verb. (Use past tense for
completed accomplishments).
- Be specific.
- Quantify, using metrics whenever possible (and
when it is helpful).
- Show concrete results or the impact of your
actions.

How to Identify and Use Keywords

When you align your CV/résumé content with an employer’s requirements for a position or TOR, it makes it easier for an employer to shortlist you. Alignment is not about copying the job posting and placing the exact contents into your CV/résumé. (Yes, we have seen it happen!). It’s about making a list of keywords and key phrases that are common to job postings for your field that show what employers are typically looking for and making sure that, when true, these are represented in your CV/résumé.

Keywords and key phrases are what recruiters and Applicant Tracking Systems (software used by organizations to do an initial screening of incoming résumés) search for when reviewing your CV/résumé. They are the nouns and phrases that describe the skills and qualifications employers typically search for as they identify qualified candidates for your field. They can include skills, experience, knowledge, areas of expertise, certifications or special training, education, and personal qualities that are core to the kind of position you are seeking.

A good exercise before updating your résumé is to identify the keywords and key phrases that show up most frequently for your field. Sources for identifying keywords and key phrases for your field include:

> job postings: Review 5-7 job postings (e.g. on Compass) and make a list of keywords and key phrases that come up most often in job postings for your role.
> employer websites and mission statements
> social media profiles of others in your field
> colleagues
> professional associations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

How to Write a Career Profile (also known as a Career Summary or Executive Summary)

Placed at the top of your résumé underneath your contact information, this is prime real estate in a CV/résumé. Its purpose is to show an overview of your core qualifications and the value you bring to an employer. It can be a paragraph overview or it can be a paragraph followed by a bullet listing of core qualifications, special skills, certifications, or areas of expertise.

The summary can include:

> How much and kinds of relevant experience you have
> Key qualifications and skills (These are the keywords
and key phrases that are most important to your
field and to the position)
> Specialty area of expertise and experience
> Differentiators (what makes you unique when
compared to other candidates)

One model to use for developing your Career Profile is that each sentence answers a different question for the reader.

> 1st sentence: Define yourself in terms of your career. This can be by position, title, field, or a specialized functional area or area of expertise within your field.
> 2nd sentence: Identify the strengths you are promoting about yourself.
> 3rd sentence: Provide additional depth or breadth. Can also define the kinds of activities you would like to do that are required for the positions you are seeking.
> 4th sentence: Define unique traits as they relate to the position and organization. Here’s a chance to showcase soft skills (personal qualities or strengths that support the job). Think about what others say about you, what you are known for, what people come to you for when asking for your help, etc.

 Phrases that may be helpful to you as you develop your Career Profile:

> Over X years of experience in..., Extensive experience in…, Expertise in…
> Proven strengths in…, Major strengths include…, Skilled in…, Core strengths include…
> Proven ability to…, Proven success in…, Proven record of …, Excellent track record of…, Demonstrated X capabilities with…
> Strong background in…, Background includes…
> Recognized for…, Recognized as a…, Consistently
acknowledged as a…
> Country experience includes…
> Regional experience includes…
> Sectors include…
> Languages...

Examples:

#1: CAREER SUMMARY
Skilled learning specialist, with over 10 years of experience in public, private, and nonprofit organizations. Proven strengths in needs assessment, program design and delivery, and program evaluation. Strong background in working with all levels of management and staff, consistently improving organizational performance through classroom and virtual programs. Recognized for facilitating active learning and incorporating innovative learning strategies to motivate others to achieve their personal best.

#2: PROFESSIONAL SUMMARY
Extensive experience in environmental policy and strategy development for global development organizations, with expertise in carbon finance. Proven background in carbon fund operations in the South Asia, East Asia and Pacific regions. Field experience includes land use, land-use change, and forestry. Recognized for developing highly effective partnerships with stakeholders to establish and implement carbon fund programs.

> REDD + Readiness
> Capacity building
> BioCarbon Fund (BioCF)
> Portfolio management
> Forest Carbon Partnership Facility (FCPF)
> Carbon finance training
> ERPA
> Development finance

#3: PROFILE
Over 10 years of experience leading administrative support staff to provide comprehensive program support services. Proven organizational and time management skills, prioritizing and delegating work to ensure that tight deadlines are met. Recognized for applying strong research and analytical skills to manage and track data, produce reports, and strategically respond to client issues. Committed to demonstrating sensitivity in handling confidential information.

#4 SKILLS
Microsoft Office (Advanced Proficiency) | SAP | TRS | LARS | LMS | Adobe Acrobat | SharePoint

Action Verbs

Powerful action verbs help your achievements to come out clearly, emphasize the contributions you have made in former positions and increase your chances to be found and shortlisted if an employer uses software support. Here is a list of ACTION VERBS you can use.

accelerated, accepted, accomplished, achieved, acquired, adapted, added, addressed, adjusted, administered, advanced, advised, allocated, analyzed, announced, answered, anticipated, applied, appointed, appraised, approved, arranged, assessed, assigned, assisted, assumed, attained, audited, augmented, authorized, awarded, 

balanced, bargained, bolstered, boosted, bought, briefed, brought, budgeted, built, 

cataloged, caused, certified, chaired, changed, clarified, classified, closed, coached, collaborated, collected, combined, communicated, compared, compiled, completed, composed, computed
conceived, conceptualized, concluded, conducted, confirmed, constructed, consulted, contacted, contracted, controlled, converted, conveyed, convinced, cooperated, coordinated, corrected, counseled, created, critiqued, cut, 

decided, decreased, defined, delegated, delivered, demonstrated, described, designated, designed, detected, determined, developed, devised, diagnosed, directed, discovered, discussed, disseminated, distributed, documented, earned, 

edited, educated, eliminated, employed, enabled, encouraged, endorsed, engineered, enhanced, enlarged, enlisted, enriched, ensured, equipped, established, estimated, evaluated, examined, exceeded, executed, exhibited, expanded, expedited, experienced, experimented, explained, explored, expressed, 

facilitated, filed, filmed, financed, finished, forecast, formulated, fostered, found, founded, fulfilled, furthered, 

gathered, generated, guaranteed, guided, 

handled, helped, hired, 

identified, illustrated, implemented, improved, improvised, incorporated, increased, indexed, indicated, influenced, informed, initiated, insisted, inspected, inspired, installed, instituted, instructed, insured, integrated, interacted, interpreted, interviewed, introduced, invented, investigated, involved, issued

joined, justified, 

kept, 

launched, learned, leased, led, leveraged, licensed, linked, located, logged, 

maintained, managed, mandated, matched, measured, mediated, mentioned, mentored, met, modified, monitored, motivated, moved, multiplied, 

named, negotiated, 

observed, obtained, opened, operated, ordered, organized, outlined, oversaw, 

paid, participated, partnered, perceived, performed, persuaded, pioneered, placed, planned, prepared, presented, prevented, priced, prioritized, processed, procured, produced, programmed, projected, promoted, prompted, proposed, provided, published, purchased, pursued, 

qualified, quantified, 

ranked, rated, received, recognized, recommended, reconciled, recovered, recruited, reduced, referred, refined, regulated, related, released, renegotiated, reorganized, replaced, replied, reported, represented, requested, researched, resolved, responded, reevaluated, retained, revamped, reversed, reviewed, revised, 

salvaged, saved, scheduled, screened, secured, selected, serviced, set, settled, shaped, simplified, solved, sorted, sought, specified, spoke, staffed, stimulated, strategized, streamlined, strengthened, structured, studied, submitted, substituted, succeeded, suggested, summarized, supervised, supported, surveyed, synthesized, 

tackled, targeted, taught, tested, trained, translated, transported, traveled, treated, troubleshot, turned, 

uncovered, unified, updated, upgraded, used, 

validated, visited, 

worked, wrote

Tips for Preparing a Statement of Interest (SOI)

> The Statement of Interest (SOI) is similar to a cover letter but it can be longer (2 pages maximum) and does not use business format.
> Read the announcement carefully and highlight or underline all of the items in both the Duties and
Accountabilities and Selection Criteria sections that match your experiences, skills, and education.
> Prepare statements describing your qualifications for each of the items you have highlighted or underlined. What examples can you provide? You can showcase a few specific details from your résumé. Select and describe relevant experiences, showing their significance to the position. Make the connection for the reader in an interesting way.
> The SOI does not need to be chronological. Lead with the most relevant information or an impactful
statement or story.
> Avoid using general terms such as several, numerous, various, or familiar with.
> Limit self-reported behaviors/skills, such as “excellent communicator” or “good people skills.” Instead, describe an experience that validates the skills and/or behaviors.
> Keep the information in your application relevant to the vacancy announcement. Information not related to the vacancy can cause the reader to wonder if you read the announcement.
> It is not necessary to describe the issues related to the position. The readers should be aware of them.
> Limit your text. Two pages are sufficient.
> Proofread carefully to eliminate any grammar, punctuation, or spelling errors. Do not rely on spell
check to catch grammar and spelling errors!

Statement of Interest Format

> 1st paragraph:
Begin with interest statement that emphasizes why you are interested in this position and the value you will bring. Ask yourself and address: Why are you interested in this specific position? What draws you to this position? Avoid describing how you will benefit from the position if selected. The reader wants to know your motivations.
> Following paragraphs:
Use a 2-page maximum length: Use your prepared statements describing your qualifications for the Duties and Accountabilities, Selection Criteria, and Competencies of the announcement. Include specific accomplishments or experiences that are of greatest interest and relevance to this position and unit.
> Closing paragraph:
Thank the reader for his/her consideration and review of your attached CV and indicate you look forward to the opportunity to meet to further discuss how you can meet their needs.

CV/Résumé and Statement of Interest Checklist

Layout and Appearance

- Name is at top of page and in bold and larger font.
- Address, phone number, and email (LinkedIn URL optional) are easy to read.
- Résumé is appropriate length (generally 2 pages for experienced professionals).
- There are 1” (1/2” minimum) margins all the way around.
- Font size is clearly legible (usually 11 or 12 pt; 10 is minimum, depending on font style).
- Formatting is consistent throughout (font size, bullet sizes, heading sizes).
- Verb tenses are in the present for current jobs, unless an accomplishment stated has been completed. Verb tenses are in the past for previous jobs.
- Weight and balance are clear: positions at the WBG and those with greatest relevance to the job you are seeking have greater length and description.
- The most important information is on the top half of the résumé.
- Headings (Name and Page Number) are placed on Page 2 and subsequent pages.
- You have not overused bullets.
- In about a 10-second scan of your document, the reader's eye is drawn to your most important points.

Content

- Summary statement at top shows direction, focus, an overview of your strengths, and the
value you bring.
- Relevant jobs and experiences are included that show you are qualified for the position.
- Keywords are used in the summary and throughout the résumé.
- Statements demonstrate accomplishments rather than routine tasks and duties.
- Each statement begins with an action verb. Responsible for is not an action verb!
- Metrics are included, when possible, and/or the impact/results of your actions. A model to use is: Action verb + action taken on your part + results.
- Statements support and demonstrate the summary at the top of the résumé.
- There are no complete sentences. There are no I statements.
- Descriptions are clear, concise, compelling, and confident.
- The résumé is free of spelling, punctuation, and grammatical errors.

Statement of Interest

- It is two pages or less.
- It addresses the key elements in the job announcement.
- It begins with an interest statement that shows why you are interested in the position and the
value you will bring.
- It follows with an unfolding of your background as it relates to the position. It has paragraphs
that describe your relevant experience and qualifications.
- It includes accomplishments that are of greatest interest and relevance to the position.
- It is free of grammar, punctuation, and spelling errors.

Interview with EBRD

 Hello everyone,

First of all, thank you for giving me this opportunity.

Allow me to introduce myself to you. 

My name is Murat Cakir, and I am working as a senior expert in the Central Bank Structural Economic Research Department. I have worked for 19 years in the Sectoral Assessment Division and the Real Sector Data Division of the Statistics Department before transferring to this department in 2017. Sectoral Assessment Division, which was a part of the Credits Department, when I started working at the central bank, was later attached to the Statistics Department after the CBRT ceased its credit-granting activity just before the CBRT's establishment of the Statistics Department. 

For the majority of these 19 years at the Statistics Department, my work has involved dealing with many different issues from various fields: collecting, processing, analysis, reporting, and interpretation of financial and economic data of mainly the real sector,  banking, and stock markets, along with their credit relations, and developing policy recommendations. I also actively worked in the design, management, and implementation of related IT projects of the department. 

During those years, the main report we have produced has been the Company Accounts. Within the framework of the central bank's financial stability target, the banking and real sector credit relationship, in particular, has been one of the most significant motives focused on and was the preeminent design attribute of the Company Accounts. 

Since our focus was then different, though known to all of us, financing problems of the SMEs were not our primary concern. Instead, it was the credit risk of the firms borne by the banks and whether they would be able to pay back loans, given their financials. When I was working on a special report featuring transition or migration tables between the size groups using the loan balances, I realized that there was indeed a vast discrepancy between the funds granted between groups. That was valid for the geographical classifications too. So this got me interested, and I decided to go deeper into the details about the hardships SMEs were facing in financing issues. 

My research revealed that the local resources were roughly inadequate. Thus, I started to examine the resources provided by the international organizations to SMEs. I studied the 210 individual projects administered by the World Bank until then. I discovered the share of SMEs in the total was around 14 %.  SMEs used only 3 % of this amount directly. In summary, I have confirmed that SMEs do not have a financing opportunity parallel to their importance in the economy. 

Since the analysis was only a determination and a confirmation of the current situation, I started to focus on and search for ways about "how the problem could be solved" with a more proactive perspective. 

Would it be possible to redistribute the financial resources more efficiently across the economy and find a Pareto-optimal solution? 

Could the firms be helped generate enough cash and make a profit more efficiently? 

Could the credit risks be reduced? 

While contemplating all these and similar questions, I realized that the credit relationship with each firm, regardless of its scale, is an individual one. Thus, the risks are high, and the funds are not distributed properly due to this particular characteristic. 

What if concepts like cooperation, business partnership, and diversification, known to improve the efficiencies,  could be introduced into the analysis of SME financing?

After a long thought process and a thorough examination and research, I realized that the "integration" concept was what I needed. 

So what do I mean by 'integration' in this context? Essentially, it means the endeavor through which the loan takers act together voluntarily, integrated over a set of 'dimensions.' 

What is the aim of this? I propose that there is practically a quite reasonable potential for improvement through integration, at least conceptually:

• It may solve the issue of channeling the funds to their intended uses through incentives directing the loan takers to work together, and

• It may save funds to an extent lower than the total of when two or more entities take loans individually.

What is a dimension?