First of all received a telephone interview from HR department. One week later I was moved forward to on site interview and the interview lasts for 3 hours. Was asked for a lot of questions including RMBS, VBA and legal documents. Brain teasers and behavior questions are included as well.

Applied online originally through the recruitment section of the group's website, received a phone call from HR after two days for some preliminary questions and to arrange for an interview. Next step was to have two 2:1 45minute interviews with team members at the the company's headquarters in Canary Wharf. The interviews focused on my CV, motivation for applying to that position specifically and some technical aspects of structured finance - specifically RMBS products. The interviewers were nice and quite relaxed which in turn made the experience far more pleasant than the myriad of interviews i have had elsewhere. Also, the interviewers evidently did not prepare questions prior to the interview and just went with the flow, so to speak. A day later, I received a call from HR saying that the team is keen to have me back for the next round which would include a conference call with the team's head in NY, followed by a 2:1 interview with associates, plus two 1:1 interviews with another head and HR to finish off. Each interview lasted about 45 mins. The former two interviews were mostly technical with a focus on my previous experience in Structured Finance. Again, the interviewers were nice and the experience was wholesome. There was not any grilling as such or any of that "why do you wanna work for us as opposed to our competitors" none sense. N.B. this is not a graduate scheme but an entry level analyst role. Having some experience in structured finance at an investment bank or otherwise would seriously bolster your application/chances.