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The Federal Reserve Bank of New York Interview Questions

To help you prepare for a The Federal Reserve Bank of New York job interview, here are 28 interview questions and answer examples.

The Federal Reserve Bank of New York was written by on January 7th, 2021. Learn more here.

Question 1 of 28

One huge philosophy that we believe in at The Federal Reserve Bank of New York is professional development. How have you worked to develop yourself professionally throughout your career?

How to Answer

In an ever-changing field like financial services, The Federal Reserve Bank of New York knows that professional growth and development is vital to them staying at the forefront of their industry. For this question, your interviewer is looking to ensure that your values surrounding professional development match the values of the company. Use this question as an opportunity for you to highlight the many ways that you grow and develop yourself to be the best that you can be in your career. Highlight any continuing education you have completed, any societies or groups that you belong to and any publications that you read on a regular basis that will prove to your interviewer that you aren't comfortable being stagnant in your career.

Written by Ryan Brunner on January 7th, 2021

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28 The Federal Reserve Bank of New York Interview Questions & Answers

  • 1. One huge philosophy that we believe in at The Federal Reserve Bank of New York is professional development. How have you worked to develop yourself professionally throughout your career?

      How to Answer

      In an ever-changing field like financial services, The Federal Reserve Bank of New York knows that professional growth and development is vital to them staying at the forefront of their industry. For this question, your interviewer is looking to ensure that your values surrounding professional development match the values of the company. Use this question as an opportunity for you to highlight the many ways that you grow and develop yourself to be the best that you can be in your career. Highlight any continuing education you have completed, any societies or groups that you belong to and any publications that you read on a regular basis that will prove to your interviewer that you aren't comfortable being stagnant in your career.

      Written by Ryan Brunner on January 7th, 2021

      1st Answer Example

      "I am a firm believer in being a life long learner in my work as a Data Analyst. As technology and times have changed over the course of time, I see it as very important to be learning and changing along with the times. Just over the past two years, the Data Fest and Data Summit national conferences and participation in these events on a yearly basis is super important to me to help me grow and develop."

      Written by Ryan Brunner on January 7th, 2021

      2nd Answer Example

      "In the financial field, I have to stay at the top of my game to compete with other advisors and keep clients happy and flourishing. To do this, I subscribe to and read many of the great publications that are out there. Some of my favorites include the Wall Street Journal, Money magazine and Forbes. I also subscribe to many others. As well, I am a member of NAIFA and I have attended the organization's Congressional Conference on a few occasions."

  • 2. In the ever increasing world of remote work and staff travel, our cybersecurity team at The Federal Reserve Bank of New York must ensure that our staff keeps our information safe. How would you help to solidify our user authentication for our staff?

      How to Answer

      User authentication is very important at The Federal Reserve Bank of New York because it only allows authenticated users on their network of computer systems, websites and databases. Because of telework and staff travel, employees of The Federal Reserve Bank of New York are often logging onto the network from remote locations and part of your role will be to help strengthen the user authentication processes. As you answer this question, talk about your user authentication experience that you have and be sure to talk about two-factor authentication and its importance in the user authentication process.

      Written by Ryan Brunner on January 7th, 2021

      1st Answer Example

      "In my current role, I helped set up and establish a two factor authentication process that utilized a fingerprint scan for our staff that was accessing our network offsite. Coming from the healthcare industry and looking to get into the banking industry, I've had training on setting up both fingerprint scan and phone setup for two factor authentication and would use what would work best for the step here at The Federal Reserve Bank of New York if hired for this role."

      Written by Ryan Brunner on January 7th, 2021

  • 3. How do you believe your coworkers would describe you?

      How to Answer

      The interviewer would like to know how you are seen by your colleagues. Select approximately three words that truly define who you are. Be sure to choose words that radiate positive thoughts!

      1st Answer Example

      "I believe that my coworkers, if asked, would describe me as a reliable person who is always ready to submit the best work possible. My work ethic has never been questioned, and I am very proud with the work that I have submitted in my career, so far."

      2nd Answer Example

      "Here are some other great keywords you could use:

      - Encouraging
      - Caring
      - Knowledgeable
      - Reliable
      - Focused
      - Honest
      - Assertive
      - Tenacious
      - Motivated
      - Ambitions
      - Conscientious"

  • 4. At The Federal Reserve Bank of New York, our Financial Analysts have to often work under a tight deadline. Talk about a time you had to work under a tight deadline in the past. How did you handle that situation and what made it a success?

      How to Answer

      The financial field can sometimes be chaotic and stressful for analysts working on high pressure deadlines and the work life at The Federal Reserve Bank of New York is no different. To test how you will perform in these situation if hired for this role, your interviewer will be looking to hear about a time where you did just that. No matter what the situation is that you discuss, be sure to show how you remained calm, focused and on-task to get the job done. Try and stress how you are resourceful and willing to utilize a team effort if necessary.

      Written by Ryan Brunner on January 7th, 2021

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  • 5. At The Federal Reserve Bank of New York, cybersecurity is priority number one in this role. What DLP tools are you familiar with that will help prevent any types of data breaches?

      How to Answer

      In looking to join The Federal Reserve Bank of New York as a cybersecurity expert, your interviewer will expect that you have a good handle on accidental breaches, intentional breaches and system hacks and the different data leakage prevention tools and software that exist. Answer this question openly and honestly while stressing to your interviewer that you have an open mind when it comes to adapting to and learning new technologies that are focused on the banking and financial industries.

      Written by Ryan Brunner on January 7th, 2021

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  • 6. Talk about your experiences working with both fellow Analysts and Accountants within your own firm and with external partners. How do you feel that you will be effective in working with our external candidates in this role here at The Federal Reserve Ban

      How to Answer

      While you are well aware that your career as a Risk Analyst in the financial industry involves many hours behind a desk and plugging away at a computer, The Federal Reserve Bank of New York will expect that you are an excellent team player with your fellow colleagues. On top of that, you will also have an expectation to be a face of the organization for external clients and stakeholders. While a very open ended question, make sure that you hit on your experiences in working as part of a larger team and explain the skills and personality traits that you'll bring to the table if hired at The Federal Reserve Bank of New York. Then, be sure to talk about your experiences working with clients and how you do so effectively.

      Written by Ryan Brunner on January 7th, 2021

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  • 7. What do you see as the top benefits of moving to a cloud based computing platform?

      How to Answer

      While cloud based computing has certainly had its positive impacts across many different industries, the field of software and technology development has its own unique benefits. For this question, your interviewer will be looking to hear that you understand just how a cloud based platform benefits the field. In your answer, focus on resources that impact both the work that the team at The Federal Reserve Bank of New York performs and the end users of the software.

      Written by Ryan Brunner on January 7th, 2021

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  • 8. To help us understand your need for initial training and orientation in this role with The Federal Reserve Bank of New York, can you tell me what financial software you have familiarity working on?

      How to Answer

      Financial software, in particular software geared towards financial analysis, is widely available to the industry with many options available for use. While this won't be a make it or break it question to see if you are experienced with the program that The Federal Reserve Bank of New York utilizes, your interviewer will be looking to hear that you have experience on some of the available systems and that you are ready and willing to take on the challenge of learning something new if hired for this role. In the end in answering this question, make sure that you reiterate that you have the ability and the desire to learn a new program if needed to be successful in this role.

      Written by Ryan Brunner on January 7th, 2021

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  • 9. As a Research Associate with The Federal Reserve Bank of New York, how would you go about minimizing the risk for errors in your work?

      How to Answer

      At The Federal Reserve Bank of New York, your work has the potential to have a great impact on a large number of people and while you won't be expected to be perfect in your work, your interviewer will be looking to hear about the steps you take in your work as a Research Analyst to help mitigate risk in your work. If possible, talk about any quality assurance training you have received that you apply to your work on a daily basis to prove that you are patient and detailed in the work that you will be performing while on the job at The Federal Reserve Bank of New York.

      Written by Ryan Brunner on January 7th, 2021

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  • 10. We are looking for the most motivated individuals to join the team here at The Federal Reserve Bank of New York. Where would you like your career to take you in the next five to ten years?

      How to Answer

      This common interview question put you in a tough spot where you should talk about your ultimate career goals while also balancing the needs of the position that you are interviewing for and the needs of The Federal Reserve Bank of New York. Prior to your interviewer, try to research the job and The Federal Reserve Bank of New York to the point where you can match your career goals with they The Federal Reserve Bank of New York offers. While your interviewer is looking for a long-term fit for the position they are interviewing you for, it is okay to set your sights higher as long as your goals meet that of the organization's goals. If at all possible during your answer, point out that long-term success with The Federal Reserve Bank of New York is vitally important to you.

      Written by Ryan Brunner on January 7th, 2021

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  • 11. If you joined the team here at The Federal Reserve Bank of New York, how would you build relationships with those that you would be working closely with?

      How to Answer

      For this question, your interviewer will be looking to get the sense that you would be proactive about getting to know your colleagues and fitting into the culture of the organization. Use a personal approach to talk about ways that you have done this in the past and how you would do it if hired for this position. Talk about the importance of relationship building in your line of work and how it helps the overall good of the organization if you take the initiative to do this.

      Written by Ryan Brunner on January 7th, 2021

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  • 12. If you were faced with a situation that you didn't know the answer to or understand, what would your next steps be?

      How to Answer

      Work as an IT support specialist in the software industry could potentially put you in a situation to handle a question or issue that leaves you scratching your head. While explaining to your interviewer that you have the ability to take a methodical approach to getting a problem solved with the help of others, make sure not to lost sight on what is important to the customer. Talk about how you will put the customer at east by considering their needs as part of your process.

      Written by Ryan Brunner on January 7th, 2021

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  • 13. What statistical analysis tools do you have experience working with?

      How to Answer

      As a successful and resourceful Data Analyst, your interviewer at The Federal Reserve Bank of New York is expecting you to be knowledgeable and well-versed in the many tools available to you. In your answer, be sure to show diversity within particular programs like SAS and SPSS while also explaining that you are very proficient in Microsoft Excel. On top of the programs, talk about any experience you have with programming and database language like SQL and Python.

      Written by Ryan Brunner on January 7th, 2021

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  • 14. Have you ever run into a situation where a company had a positive cash flow but was still in critical financial trouble?

      How to Answer

      At the heart of this question, your interviewer is looking to dive in and take a look at your critical thinking skills. While positive cash flow is usually a very good sign of a company's overall ability to settle its debts and handle future financial challenges, there are some situations where all isn't as it seems when looking at a company with a positive cash flow. Whether you have run into this situation or not, it is important for you to point out that you are aware of situations where a positive cash flow can be misleading.

      Written by Ryan Brunner on January 7th, 2021

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  • 15. Among the common issues that are faced by Data Analysts in their work, which one or two problems do you feel really challenge analysts in the financial industry?

      How to Answer

      While the challenges faced by general data analysts makes for a pretty long generalized list, this question is allowing your interviewer the chance to see your critical thinking skills by having you talk about which challenges you feel will be critical in the financial field. While there isn't necessarily a right or wrong answer in this question, make sure that you are able to speak intelligently about your answer and provide ways with how you can meet the challenges in your work with The Federal Reserve Bank of New York.

      Written by Ryan Brunner on January 7th, 2021

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  • 16. In working with financial data here at The Federal Reserve Bank of New York, what are the steps you would take in the data validation process as part of your work?

      How to Answer

      Your job as a detailed and proficient Data Analyst requires you to take proper steps in the data validation process to ensure that data used is accurate and clean. Bad data in the financial industry can have a costly impact and your job will be to ensure that doesn't happen. For your answer to this question, discuss the importance and your method for both data screening and data verification as part of the validation process. Also, be sure to talk about any programs that you utilize during the validation process.

      Written by Ryan Brunner on January 7th, 2021

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  • 17. Pretend an old friend just awoke from a coma that lasted over 30 years. How would you describe the internet to them?

      How to Answer

      A common tactic used in interviews for Risk Analysts is making you think on your feet. This brain teaser question, or any similar to it, will judge your thoughts processes to come up with an answer rather than what your final answer is as this is a very open ended question. As you provide an answer to this question, make sure that you explain why you are coming up with your answer and your thought process behind them. A solid thought process on your end shows that you can be analytical and while creatively solving problems using your critical thinking skills.

      Written by Ryan Brunner on January 7th, 2021

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  • 18. In SQL, how do you explain the differences between clustered and non-clustered indexes? Can you name a time that you used each?

      How to Answer

      The Federal Reserve Bank of New York uses indexes to improve query performances within their software and for this question, your interviewer is looking to hear that you have a basic understanding of both clustered and non-clustered indexes. Explain the differences between the two types of indexes and be sure you can either speak to relevant times that you've used each or when would be the appropriate application to use each.

      Written by Ryan Brunner on January 7th, 2021

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  • 19. What do you know about our products and how do you think you'll be able to handle a support role surrounding them?

      How to Answer

      This question allows your interviewer to gain insight into both your interest in this position and the skills that you will be able to bring to the table. To show your interest, be sure to do as much research on The Federal Reserve Bank of New York as possible and get to know their products. Ensuring that you know the job description from front to back is important as well. Then, talk about how you feel that your skills will apply to working with end users that are contacting about the software.

      Written by Ryan Brunner on January 7th, 2021

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  • 20. What is the most attractive thing in your eyes about this role with The Federal Reserve Bank of New York?

      How to Answer

      For this question, your interviewer is looking to gain insight into what you know and like about The Federal Reserve Bank of New York and how they will be able to help you meet your career goals. In your answer, try and stay focused on the alignment of your values with the organization's values and demonstrate that you've done your research on The Federal Reserve Bank of New York and the job you are interviewing for. To try and maintain positivity in your answer, try not to talk bad about a previous employer as that can make you sound like a difficult employee and raise a red flag for your interviewer.

      Written by Ryan Brunner on January 7th, 2021

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  • 21. What data cleaning methods are you familiar with and comfortable using if hired for this role at The Federal Reserve Bank of New York?

      How to Answer

      To improve data quality and increase overall productivity of a system, The Federal Reserve Bank of New York relies on their data analysts to use data cleansing methods to ensure quality data exists in their software. Be open and honest with the ways that you've helped ensure quality and accurate data in the systems that you've worked with while also showing that you have an open mind to learning and utilizing more methods if hired for this position.

      Written by Ryan Brunner on January 7th, 2021

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  • 22. Our cloud computing at The Federal Reserve Bank of New York requires our experts to take proper security measures in their work. What security measures are you familiar with utilizing in a cloud platform?

      How to Answer

      As with any server or database storage, unique security risks are posed to organizations that have moved their data and applications to the cloud. At The Federal Reserve Bank of New York, part of your role will be to ensure that all security measures are in place with the organizations data in the cloud and your interviewer is looking to hear that you are familiar with diagnosing security risks and taking action to prevent them with this question. Talk about your knowledge of the different cloud service providers and other security measures that you are familiar with taking in your work.

      Written by Ryan Brunner on January 7th, 2021

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  • 23. We pride ourselves on our interdepartmental teamwork here at The Federal Reserve Bank of New York. If hired for this role, what kind of team player could we expect you to be?

      How to Answer

      In the financial world, teamwork at an organization is the key to success and life at The Federal Reserve Bank of New York is no different. As you talk about your abilities and experiences in being a great team player, try to highlight certain themes like building trust, gaining respect and being a subject matter expert as part of a larger team. Don't hesitate to show flexibility in your ability to both lead others and be lead by others and use examples of times that you've done both. To seal your answer for this question, talk about your desire to work as part of a team and do your research on this position to find out what types of colleagues you will be working with.

      Written by Ryan Brunner on January 7th, 2021

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  • 24. What would you say is your style of managing change within an organization?

      How to Answer

      While certainly a very open ended question coming from your interviewer, they'll ideally be looking to hear the key skills and abilities that you will bring to the team at The Federal Reserve Bank of New York to help guide positive changes for business into the future. As you prepare for and eventually answer this question in an interview, try to highlight your best skills that prove your ability to consult on change management within an organization and use examples of times you've put these skills to use on the job. If possible, try to be as diverse as possible in your answer to show that you are flexible and well rounded as you look to take on this role.

      Written by Ryan Brunner on January 7th, 2021

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  • 25. Can you think of a situation where raising debt over equity would be beneficial?

      How to Answer

      Debt and equity have a very closely bonded relationship with each other in relation to a company's finances. In most situations, raising debt can create too high of an amount of pressure to meet payments versus raising equity. But, there are a few key situations where there is a distinct advantage in raising debt over equity and your interviewer will be looking to hear that you understand at least one of those advantages to be tax shielding, reducing cost of capital and not diluting the stake for investors.

      Written by Ryan Brunner on January 7th, 2021

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  • 26. The staff at The Federal Reserve Bank of New York are often targets of advanced phishing threats. Explain your experience in helping to prevent phishing attacks and how you can help benefit our team with that experience.

      How to Answer

      Cyberattackers have become very advanced in their techniques to disguise themselves as a trusting a business in attempts to steal both personal and financial information. They do this through well designed emails to staff of banking institutions to try and trick frontline staff into releasing information to them. At The Federal Reserve Bank of New York, staff need to be aware of these attacks and you will be tasked with helping to prevent phishing attacks in this role. Talk about the experience you have in helping to prevent phishing attacks and try to relate your experience to the banking world.

      Written by Ryan Brunner on January 7th, 2021

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  • 27. What qualities do you feel a successful manager should have?

      How to Answer

      Some great qualities of a manager are:

      - Being someone who people naturally want to follow
      - Exceptional interpersonal skills
      - Strong relationship building skills
      - Taking ownership for the team's errors and mistakes
      - Excelling at motivating others
      - Providing kudos/recognition to your team
      - Knowing how to select and hire the right people to join the team
      - Having a vision for the future

      These are just a few to get started!

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  • 28. In a technical support role here at The Federal Reserve Bank of New York, we expect that you would be able to bring great customer service skills to the role. Describe your customer service philosophy in the support that you would provide.

      How to Answer

      While your interviewer will be able to get great insight into your technical expertise during your interviewer, this one question will allow you the opportunity to describe how you will bring solid interpersonal skills to the role. Your interview knows that customers will rely on you to provide quick and sensible support for their needs, but the expectation to do that in a pleasing manner is of utmost importance. Talk from a high level about your feelings on why providing great service is important and give an example or two of ways that you have done that in the past.

      Written by Ryan Brunner on January 7th, 2021

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