Federal Reserve Bank of Chicago Interview Questions

Updated Mar 5, 2015
Updated Mar 5, 2015
29 Interview Reviews

Interview Experience

Interview Experience

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Candidate Interview Reviews

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  1.  

    Intern Interview

    Anonymous Employee
    Anonymous Employee
    Application Details

    I applied online – interviewed at Federal Reserve Bank of Chicago.

    Interview Details

    I applied online, received an email and set up a phone interview with an HR representative. The interview lasted about 15 minutes. The interviewer asked a set of questions that seemed to have been prepared beforehand and he seemed to stick to his script. I had some time to ask questions at the end of the interview.

    Interview Questions
    • Basic behavioral questions: Why do you want to work for Fed? Etc.   Answer Question
    No Offer
    Positive Experience
    Average Interview
  2.  

    ER Associate Economist Interview

    Anonymous Employee in Chicago, IL
    Anonymous Employee in Chicago, IL
    Application Details

    I applied online. The process took 2+ monthsinterviewed at Federal Reserve Bank of Chicago.

    Interview Details

    About a month after submitting my cover letter, resume, writing samples, etc. I was contacted by their HR department to set up a 30-min phone interview with the hiring manager. The questions were straight forward mainly focusing on my interest in economics and research. Exactly two weeks after, they emailed me to tell me they wanted to bring me in for an in-person interview. I interviewed with 15 people, but they were mostly in pairs. The whole interview process lasted 6-7 hours with a lunch break in the middle. Since this is a research assistant job for recent grads who are looking to go to graduate school, they simply want to know if you can perform academic research. I was asked to describe my dissertation, experiences writing research papers, and experiences with statistical packages such as Stata and Matlab. For the most part, there were no technical questions; however, one group asked me to look at a data merging exercise and asked me how I would combine two different data sets and what points I should be aware of. Also, one group of economists grilled me on data management and econometrics (see question 3 below). Overall, the experience was pleasant; you basically have to know your economics and for extra points, be able to refer to literature and current research. If you don't receive an offer, you will not hear from them. Most of the economists liked me and I demonstrated interest, but I did not receive an offer because my undergraduate grades were terrible. So children of academia, grades are important!

    Interview Questions
    • 1. Why are you interested in economics?
      2. Tell me about your research paper.
      3. I give you a data set and you did all the statistical tests to determine the kind of process. You come back to me and tell me it is non-stationary. I look at it and tell you that doesn't seem right. What would you do? What methods would you use to be absolutely sure its non-stationary?
      4. What are you future plans and career path?
       
      Answer Question
    No Offer
    Positive Experience
    Easy Interview
  3.  

    Supervision Analyst Interview

    Anonymous Interview Candidate
    Anonymous Interview Candidate
    Application Details

    I applied online. The process took 3+ monthsinterviewed at Federal Reserve Bank of Chicago.

    Interview Details

    Contacted for phone screener, then a second telephone screener a month later and an in person interview approximately one month later. All in all the interview was based primarily on a form of required questions. It seems that luck played too much of a role.

    Interview Questions
    • Everything was basically by the book. Questions were not unexpected or difficult.   Answer Question
    Negotiation Details
    Lots of applicants, at the time not a lot of room to negotiate.
    Accepted Offer
    Average Interview
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  5.  

    Associate Auditor Interview

    Anonymous Interview Candidate
    Anonymous Interview Candidate
    Interview Details

    Started eith phone interview, then an in person interview with two individuals (one auditor and one manager). Had a third interview with a more senior manager followed by a written assessment.

    Interview Questions
    Accepted Offer
  6.  

    Intern Interview

    Anonymous Interview Candidate in Chicago, IL
    Anonymous Interview Candidate in Chicago, IL
    Application Details

    I applied online. The process took 6+ weeksinterviewed at Federal Reserve Bank of Chicago in April 2014.

    Interview Details

    Applied online then received a phone call to set up a phone screen. After the phone screen, there was an in person interview with two individuals (a member of HR and my now-boss). Most communication was done through email- the longest part was waiting for the background check and drug screen results to go through.

    Interview Questions
    • When working in a team environment, what has been your biggest weakness? How do you deal with it?   Answer Question
    Accepted Offer
    Positive Experience
    Average Interview
  7.  

    Check Processor Interview

    Anonymous Interview Candidate in Detroit, MI
    Anonymous Interview Candidate in Detroit, MI
    Application Details

    I applied online. The process took a dayinterviewed at Federal Reserve Bank of Chicago in February 2014.

    Interview Details

    It was very professional and went very well.

    Interview Questions
    Negotiation Details
    It was not none
    Accepted Offer
    Positive Experience
    Easy Interview
  8.  

    Facilities Interview

    Anonymous Employee
    Anonymous Employee
    Interview Details

    Submitted online app and got a call 4 months later

    Interview Questions
    No Offer
    Neutral Experience
    Difficult Interview
  9.  

    N/A Interview

    Anonymous Employee
    Anonymous Employee
    Application Details

    I applied online. The process took 4 weeksinterviewed at Federal Reserve Bank of Chicago.

    Interview Details

    Fairly detailed. Went through two pre-screens and two separate panel interviews

    Interview Questions
    • A lot of questions about handling risk and working with people   Answer Question
    No Offer
    Positive Experience
    Difficult Interview
  10. 4 people found this helpful  

    Intern Interview

    Anonymous Interview Candidate in Chicago, IL
    Anonymous Interview Candidate in Chicago, IL
    Application Details

    I applied online. The process took 4 weeksinterviewed at Federal Reserve Bank of Chicago.

    Interview Details

    Pretty easy interviewing process. Applied online and was contacted for an interview about 2 weeks later. One round, 50 min interview with the manager of the group and the group lead, who were very nice and warm throughout the interview. Mostly behavioral questions, the most technical that it got were questions about my work experience, but no questions that didn't come straight from my resume.

    Interview Questions
    Accepted Offer
    Positive Experience
    Easy Interview
  11.  

    Cannot Disclose Interview

    Anonymous Employee
    Anonymous Employee
    Application Details

    I applied online. The process took 2+ monthsinterviewed at Federal Reserve Bank of Chicago.

    Interview Details

    I applied online. Recruiter called me about a month later and told me I had the qualifications they were looking for. I had a brief follow-up binterview with the recruiter a week later. The recruiter gave me a date range for in-person interviews and told me to be available. Two weeks after that I was formally invited to an in-person interview.

    Interview consisted of the following:
    1) 45 minute essay writing sample.
    2) then 45 minute meetings with different groups. One of the groups was the recruiter by himself.

    Interview was typical behavior style questions. They basically want to make sure you will work well with the existing group/new hires. The only issue was during my interviews, the one with the recruiter (the same one that told me I had all the qualifications and gave me the "wink and nod" about the formal interviews) decided he was going to start vetting candidates right then and there.

    Recruiter questions:
    1) "You don't have an MBA, but have been out of school awhile. Why didn't you go back and get it or are you planning on getting it? I answered that I would be interested in getting one, but my number one priority would be my job responsibilities and if an MBA was required, then yes I would absolutely pursue one after hours. The recruiter made a weird face and said something along the lines of he's surprised I applied without one. I believe it was an ego play by the recruiter.
    2) "Tell me about a challenge you have overcome." I explained a situation where I was given a problem to fix with no knowledge of what was happening by my employer other then "something is happening down there". I explained how it was a "fire drill" and I organized the task, raised a team, and overcame the challenge while establishing procedures to prevent it from happening again in the future. Recruiter then started asking very pointed questions such as, "Why would you take a project without knowing what is wrong? How is that possible?", "Why would you want to work for a company that doesn't tell you anything?" The recruiter was pretty tasteless and I did not want to trash talk my current employer, so I had to play my accomplishment down.

    In summation, I really enjoyed the people I interviewed with except for the recruiter. I believe the recruiter treated me as a "filler spot" to show he was looking for candidates. When the recruiter called me to inform me I was not selected, he told me I didn't really have much experience for the position anyway. I don't see why a professional recruiter would use someone like this or take an "I'm better then you" approach.

    No Offer
    Negative Experience
    Difficult Interview

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