28 The Federal Reserve Bank of New York Interview Questions & Answers
Below is a list of our The Federal Reserve Bank of New York interview questions. Click on any interview question to view our answer advice and answer examples. You may view 5 answer examples before our paywall loads. Afterwards, you'll be asked to upgrade to view the rest of our 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
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
1st Answer Example
"In my current role, I'm tasked with preparing some reports for our leadership team's bi-weekly meeting. Upon first taking that responsibility, I made sure that I kept myself organized during each work day and saving and prepping relevant information needed for their report. A couple of months ago, I was informed first thing in the morning that the meeting was being moved a week up to later that day due to some conflicts and vacation time for some of the team. Right away, I moved some things on my calendar to make this a top priority. From there, my regular organization of the materials needed made it easy for me to complete my job."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"During my last semester of my MBA program last spring, I was nearing completion of my capstone project. The project was a case study of mergers within the manufacturing industry and was a great overall project to learn from. During the semester, my full-time job I was working to put myself through school was becoming much more demanding and parts of my project got postponed to a point where I was fearing not being able to complete it to the best of my abilities with the final due date approaching. Right away, I rearranged my work schedule to work half time and began plugging away at the final pieces of the project. To complete it, I had to sacrifice some outside weekend events with friends. While sad to do that at first, I learned some great lessons on time management, project management and sacrifice."
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
1st Answer Example
"Over the last 10 years in my career in cybersecurity, I've worked with Symantec, Digital Guardian and Teramind DLP software. While every system had its pro's and con's, I've become the expert on our team to lead RFP processes when looking at new systems because of my ability to determine how a new system will impact our business. If hired here at The Federal Reserve Bank of New York, you can rest assured that I have the technical savvy and knowledge to learn any system used here."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"In my current work, I am most familiar with Code42 and its innate insider risk detection and response abilities. In my current field, insider threat has been a problem from the past and I was put in the lead to implement Code42 into use at my organization. I was able to learn the system quickly, implement it and train my team on its use in a matter of a couple of months. I am also familiar with programs like Endpoint Protector and McAfee Total Protection."
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
1st Answer Example
"While I was drawn to a career as a Risk Analyst by my love of investigation and technical acumen, I am also a people person at heart. In my current role, I feel fortunate that I get to work with and communicate with all levels of my organization each day. If hired for this position here at The Federal Reserve Bank of New York, you'll quickly find that I am sharp, witty, knowledgeable and a great all around communicator. My excellent communication skills start with face-to-face verbal conversation but also extends to written skills as well."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"One of the big draws for me to this role with The Federal Reserve Bank of New York will be the ability to work closely with your clients to help them analyze their risk. In the roles that I've held as a Junior Risk Analyst up to this point in my career, my interpersonal relationships on the job have been with my colleagues, my Senior Analysts and other from my own organization. As you'll see from my letters of recommendation, I've been commended for my ability to effectively communicate risky situations in a clear, concise and understandable manner and I think the future clients I would work with here would benefit greatly from that ability."
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
1st Answer Example
"Over the past couple of years in my current position, we have greatly benefited from the vast amount of testing and staging servers that available on the cloud. In developing new programs, our testing and delivery has greatly increased our team's productivity to new levels. Add on the simple cost savings of the cloud and a move to the cloud was a no brainer for us in the end. If hired for this role here at The Federal Reserve Bank of New York, I'd be able to bring new cloud computing ideas to your team from day one on the job."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"As with any of the work that I have done in this field, I focus on the consumer and the benefits that they can reap from my work. In the cloud, updates to existing software are made available almost instantaneously and end users have access to those updates with the simple click of a button. Rewind to years prior, these software updates took time and manpower that are almost unthinkable by today's standards."
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
1st Answer Example
"Over the past ten years, I have pretty extensive experience working on Windham Portfolio Advisor and a program called LogicGate. Windham is a program that is used by my colleagues that are building client portfolios and I work on the risk management pieces with each advisor. LogicGate is a program that I completed an RFP to bring on to my department and it has helped us immensely. I do consider myself to have a very high technical acumen surrounding new software. Right now, what programs are your Risk Analysts using?"
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Being a computer junkie in my spare time, I have a wide array of experience with many of the different types of financial and risk analysis software. I'm a big fan of the MATLAB program because of its ability to build my own algorithms and customize the data analysis within the program. This has significantly impacted my firm in my current role. With my firm recently moving to an Oracle platform, I've become very familiar with Oracle Crystal Ball over the last two years and really like its ability to visualize forecasts."
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
1st Answer Example
"Quality assurance in my work really starts with taking the time to review my data three times and reference it back to my research. To maintain consistency for myself, three times is a great number I learned from a mentor early in my career. I've found this method helps make my work as error free as possible because at times on very large projects, the second and third runs through often find me catching small errors that were overlooked."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"I've become very effective at instituting audit protocols into my data research throughout my career. Audit can happen at any time during a research project and I have the wherewithal to know when to implement audits into the trial, data collection and data analysis process on any project."
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
1st Answer Example
"Now that I am to the midway point of my career, I am looking for my next move to be my final move in finding my work home until I retire. As a successful Financial Advisor today, I want to focus on continuing to grow my skills in advising clients on retirement and private wealth management and it sounds like I'll have that opportunity here at The Federal Reserve Bank of New York. As I continue to grow in my skills and prove my worth to you, a long-term career goal is to be in management where I could oversee the work of Junior Advisors and mentor them towards success."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"A career in risk analysis has been a dream for some time and this opportunity with The Federal Reserve Bank of New York is really my dream job. If hired here, my goal for the next five to ten years would be to continue to hone my skills and help the work of the department to a point where it is growing and becoming more effective. Down the road, I'm really in a position to be an open book when it comes to where my career with The Federal Reserve Bank of New York would go from there."
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
1st Answer Example
"From my first day on the job, I would take the time to break the ice with my colleagues by introducing myself and setting up an individual meeting with each person. In the past, I've done these meetings over lunch or in an office where I've had questions prepared for me to get to know the person both personally and professionally. I want to ask my colleagues what they expect from me and what I can expect from them. I've found that these conversations really help to open up doors for working with each other moving forward."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Being the new person on the job can be a very high anxiety time for some people, but I love the opportunity to break the ice with my coworkers by making that first contact. I think it's important to get to know each other on a personal level because we spend so much of our lives together in the workplace and I am a caring person that wants to know how last night's soccer game went for the kids. Beyond that first ice breaking conversation, my work relationships are then bonded through my work ethic and helping others on my team to show that I am a true team player."
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
1st Answer Example
"In times where this has happened in my current role, I have explained to the customer that an advanced issue like theirs needs to go to one of our subject matter experts to ensure that they get the best support possible. I explain that I am going to put their call on hold and reach out to the department that I need to. If possible, I connect them immediately. If not possible, then I walk through our protocol of submitting a help desk ticket to the appropriate group while explaining to the customer that our expectation is a 24 hour turnaround. I am very appreciative of these protocols because they set very easy to follow standards for our customers and help to avoid unnecessary follow up calls."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"My first step would be to ask for help from my lead in the department or my supervisor. I would let the customer know that I would be putting them in contact with another person that has more expertise on their problem and doing so was best to help problem solve in this case. If hired for this role here at The Federal Reserve Bank of New York, would that method meet the expectations of the department?"
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
1st Answer Example
"In my current role, most of my analysis is handled in SAS and I've really grown to appreciate the program's ability to to manage large data sets and create predictive modeling in the financial field. From a past job, I have experience on SPSS and also with the SQL programming language to build robust databases. Of course, I have received expert level training in Microsoft Excel and consider myself a master of the program."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Having been in the field for over 15 years, looking back at the technological advancements in the tools that we use is very amazing. I consider myself very fluent in both the Sisense and KISSmetrics programs. I also have a good amount of experience in Crystal Reports."
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
1st Answer Example
"If hired for this position, you can rest assured that I know all considerations necessary when looking at cash flow for an organization when determining their overall financial health. A cash flow statement can often show positive cash flow when they take on new cash from loans or long-term debt. While these items do show up as positive on the cash flow, they don't accurately reflect the profitability of the organization."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"I have come across this situation with a company that was selling off a large chunk of inventory. At the same time, the company was delaying their payables. This showed a very skewed positive cash flow but the real story behind the curtains showed a company that was in serious trouble of keeping its doors open."
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
1st Answer Example
"From my two years of experience as a Data Analyst in the financial industry, of course the common issues of overlapping data and duplicate entries did come up. But I've found the biggest issue to be the collection and implementation of real-time data to be the biggest hurdle. With markets continually changing on a daily basis, I've had to be diligent about updating reports for my advisors that I work closely with because what may be valid and real one day may be out of date the next."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Having some very close contacts that are already working in the financial field in data analysis, I understand that manual data tracking can be a pain point due solely to the time needed to complete. Being highly educated in automated processes and utilizing machine learning in other industries, I think the knowledge I could bring to the team here at The Federal Reserve Bank of New York would really help advance your data analysis practices within my first six months on the job."
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
1st Answer Example
"With any large analysis project and performing data validation, my first step is to create a detailed plan for the data needed. This plan will define the required data to be validated and set the way for the remaining steps. The next steps are to validate the information in the database and then the formatting of the data. Finally, prior to validating the data, sampling needs to be done to ensure that a small sample meets the requirements of the project. Being very proficient with many validation programs, I consider myself very proficient in both QuerySurge and Datameer but remain open to learning any new programs here at The Federal Reserve Bank of New York."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Here at The Federal Reserve Bank of New York, your Financial Advisors rely on the most accurate and up to date data to present to clients and I would take great pride in my job as a Data Analyst to provide the best data possible. To validate data, the two important steps I would take are data screening and data verification. I am very confident in my ability to work with algorithms that screens large sets of data for their accuracy. On top of that, I have worked with a few of the different data verification programs like Experian and Sage Intacct."
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
1st Answer Example
"Just like my role as a Risk Analyst, the most important thing that I could do in this situation would be to relate it to everyday things that the person would be familiar with. I would explain that the internet is a combination of television, mail, telephone, the local library and an old computer all put into one place. Each one of those components would help explain things like email, YouTube and all of the other life altering things about the internet. To really throw them for a loop at the end to blow their mind, I'd have to let them know that their local grocery store is also available too!"
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"I think that the best way to make it easy to understand would be to start explaining it in its simplest format and then expand from there. I'd draw two neighboring houses and show how the computers in each house can connect to send electronic mail, pictures, videos and information to each other. Then, I'd expand this out over the entire world where we are all connected with all of the feature of the internet. A simplified approach like this is also necessary in our work as Risk Analysts in the financial arena and it really helps people grasp new and very complicated things quickly."
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
1st Answer Example
"In the simplest of terms, a clustered index order records in a table the way that they are physically stored. There can only be one clustered index per table. Non-clustered indexes do not store data to match the physical order that it is stored. Rather, it can hold up to 249 indexes per table. Both types come with their own benefits over the other. In my experience, clustered indexes are suited best for programs that use primary key as an identity integer column. On the other hand, non-clustered make the most sense for programs that need JOIN and WHERE clauses within them."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"In my experience, clustered indexes are faster to read but very slow when it comes to update data within. Non-clustered indexes are just the opposite in that they are slower to read but much fast to insert new data into them. In my current role, I mostly use clustered indexes when large numbers of rows need to be retreived and when insert operations are important. Most other times, I will use non-clustered as the standard."
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
1st Answer Example
"One of the main things that is attracting me to a position with The Federal Reserve Bank of New York will be the new opportunity to work solely with cloud based software. With my current experience in supporting server and data storage issues, I am confident in my ability to support the services here based on that experience."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Upon reading the job description for technical application support, it was easy for me to see that my skills were a perfect match for the position. It sounds like you are looking for an expert that can provide support on GlobalLink applications and has exceptional experience across many different scripting languages. As you can see from my resume, I have experience using Perl and Python and I feel like these experiences would help make a smooth transition for me into this role. On top of that, my cloud based experience would translate nicely to this role here at The Federal Reserve Bank of New York as well."
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
1st Answer Example
"Over the past couple of years, I've had an eye on pursuing a career with The Federal Reserve Bank of New York because of your reputation as a forward moving financial institution and your commitment to the communities that you do business in. As a person that believes in togetherness and helping others out where possible, these are values that I hold very high and would bring to the team here."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"As I enter the midway point of my career, my job search has been focused on finding an employer that I can spend the rest of my career with and someday retire from. Looking at the history, culture and growth of The Federal Reserve Bank of New York, this is definitely a place that I'd love to be a part of as you continue to grow and prosper into the future."
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
1st Answer Example
"In my current work, I use a very methodical fashion in cleaning data for finished systems. My first step is to remove duplicate and irrelevant observations within the data. Then I scan the data to remove extra spaces, convert numbers stored as text into numbers and remove duplicate data. These steps help ensure clean and accurate data and I never overlook them. If hired for this position, what methods does the current data analyst team her at The Federal Reserve Bank of New York utilize?"
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"I am familiar with many methods used in the cleansing of data. The initial monitoring of errors within a system is very important to identifying where errors occur and give insight into how to fix corrupt data. I have utilized the tools within Domo software to validate data accuracy and scrub for duplicate data in my processes as well. Being very proficient in data analysis, I'm very open to learning new methods as well if hired for this position."
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
1st Answer Example
"For me, the planning stage of the cloud deployment process really sets the groundwork for security in a project. In my current role, each project adopts a cloud framework that suits the project the best. This framework is the base for our security measures in the cloud. From there, I always look to utilize a cloud service that encrypts our data and take all measures to steer away from storing sensitive information within the cloud. Last, as with any project, I help implement strict testing measures to check on the security of our cloud operations."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"In my current role, the biggest security risks that we face are loss of sensitive data and malware infections. To take all security measures possible, our first plan of attack for security is to ensure that all of our data is backed up locally with electronic copies of data. To prevent malware in all ways possible, we have implemented a strict password strength policy and we install anti-virus software in our own equipment and recommend that customers do the same as well."
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
1st Answer Example
"My colleagues that I work closely with would tell you that I'm knowledgeable in my area of expertise to contribute to the much larger team and do so without hesitation. As well, I'm able to communicate effectively, take direction and run with when needed and always willing to help out other areas if I have free time. I understand that I would be working very closely with the Advising staff here at The Federal Reserve Bank of New York and know that they would have high expectations out of my work."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"I prefer to work in an environment that promotes teamwork and collegiality. If I were fortunate enough to join the team here, I want you to know that I love being in a leadership type role on a team where I can delegate work and help train others to better the organization. As well, I also thrive in a role where I am the minion and taking direction from others. I'd say that my key skills in working as a team are my ability to friendly, honest and trustworthy with my team."
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
1st Answer Example
"I would say that my style mixes both a process driven approach and a personable approach. First and foremost, I'm a firm believer that a project roadmap created by key stakeholders is the first step towards a successful change within any process. I then work closely with anyone necessary to ensure the process is accurate and fair to all involved. Last year, I took on a project that involved stakeholders from many departments. I took the time to meet 1:1 with them along with organizing a large group meeting for the entire stakeholder team. This helped map out the project roadmap and create a huge success in the end of the project."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Being a very data driven leader, I like to rely on hard data to implement change. This helps drive the communications to staff and eventually help to instill confidence in the plan for all people involved. On top of the data piece, I also consider myself a great change management coach. As you can see from my resume, I've received the Prosci Change Management Certificate that focuses on the ADKAR methodology and am very well versed coaching leaders and front-line staff on change management procedures and would love to bring these skills to the team here at The Federal Reserve Bank of New York."
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
1st Answer Example
"In the situations where I've advised an organization to increase debt, they've received a distinct advantage in a lower cost form of financing versus equity financing. In the end, this reduced the organization's WACC and came out to be a win for them."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Last year, I advised a manufacturer to take the debt over equity route when adding a new line of products that was guaranteed to be very profitable. This fact allowed the company to simply and quickly repay the loan plus interest while being able to reap the rewards of the extra profits. In that same case using equity, final profit would've been less."
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
1st Answer Example
"In my current role, training and education of staff is the number one priority in preventing phishing attacks because attacks come to individuals and are often very well disguised. I've created several online training modules to help staff spot and report phishing attempts from hackers and the program has worked wonderfully. If hired for this role, I could hit the ground running in helping to create great training modules for the staff here at The Federal Reserve Bank of New York."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"Being very familiar with the latest techniques that phishing hackers are using, I've worked through setting up firewalls to detect phishing attempts and used antivirus software that utilizes internet security. Here at The Federal Reserve Bank of New York, I understand that phishing is a very common threat that hackers utilize to steal personal and financial information and firewalls can be a very effective technique to help block those attempts."
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!
Answer Example
"I feel that a successful manager should be patient, strive to be a mentor, and be willing to receive constructive feedback from their team. As a manager, I want to have a team that trusts me and comes to me for professional development and coaching."
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
1st Answer Example
"To me, my job duties aren't fully satisfied if an end user leaves our conversation without a smile on their face. While any technical support specialist can handle the customer aspect of the job, few have the people skills to do so pleasantly for their customers. In any interaction that I have with a customer, I talk in a calm and boosting manner. If they are upset or mad about a situation, I reflectively listen and never place any blame back on them. By taking this approach, my customer surveys in my current position have been excellent for the three years I've held that role."
Written by Ryan Brunner on January 7th, 2021
2nd Answer Example
"If hired for this role here at The Federal Reserve Bank of New York, you'll quickly find that my mantra in working with customers is speed with a smile. To do this, I need to be resourceful in providing them with an answer or triaging them to the correct person. I need to be knowledgeable in our product base to give them answers with confidence. And last, but not least, I need to be positive in all interactions with them."