Expert answer:Need Help Answering Barclays Interview Questions

Answer & Explanation:Hi there,I am a college junior and I have an interview for Barclays’ diversity program this week to obtain an internship for the summer. I need someone to write out short 1-4 sentence answers to each of the interview questions in the attached document so that I can memorize them in time for the interview. Please make the answers correct and insightful as if I have expert knowledge regarding the topics addressed in the questions. I am an applied math & economics double major if that helps.I have attached the PDF for the Barclays Junior Success Program for Markets and Research to give you a guide.Barclays Markets and Research Inteview Guide.PDF Barclays Interview Questions.docx I need this by Oct 28 – Wed at 10:30 am EST
barclays_markets_and_research_inteview_guide.pdf

barclays_interview_questions.docx

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Guide to interview
success
Junior Success Markets and Research
November 2015
Welcome
Congratulations on your acceptance into the Junior Success program. At the end
of the two days you will have the opportunity to interview for an internship with us
for the summer. To help prepare you for the interview process, we are happy to
offer you this Guide to Interview Success.
Success
We understand you may not have interviewed with an Investment Bank before,
and it can be difficult to know where to start. This guide includes practice interview
questions, tips for interviewing, external resources you can reference, as well as
information on Barclays’ investment bank and the desks where an intern might
rotate during the summer internship program.
program
Markets and Research consist of various businesses within the investment bank, all
working to provide insights, service and execution for clients. Collectively, we serve
a client base that consists of asset managers, hedge funds, pension plans,
commercial banks, corporations, insurance companies, broker-dealers and REITs.
Our goa
Ou
goal iss to understand
u de sta d our
ou clients’
c e ts needs,
eeds, to build
u d long-lasting
o g ast g relationships
e at o s ps and
a d
become their go-to broker-dealer.
The desk descriptions in the appendix of this guide provide high-level summaries
of the different desks and some of the roles that you might play within Markets
and Research. Each is different: in the types of clients they focus on, what they
y
y primary
p
y responsibilities.
p
have to offer clients, and their day-to-day
You won’t necessarily be expected to know everything that’s in this guide, but we
encourage you to use these materials to help learn about Barclays and prepare for
your interviews.
Lastly, remember to use your Barclays coaching buddy as a resource. They are
h
happy
to answer any questions and
d are there
h
to help
h l guide
d you through
h
h the
h
process.
We wish you the best of luck.
Markets and Research
Contents
• What does Barclays look for?
• Sample questions
• Interview tips checklist
• About Barclays – Investment Bank
• About Barclays – Markets and Research
• Tips from the intern class of 2015
• Resources – links and descriptions
• Appendix – desk descriptions
1
What does Barclays look for?
What your interviewer is looking for…
Passion for the
markets and
interest in
Barclays
Raw smarts and
problem solving
skills
• Does the candidate demonstrate an understanding of
markets?
• Is
I there
th
evidence
id
off interest
i t
t in
i the
th markets
k t
• Why Barclays?
• Does the candidate demonstrate strong academic
achievement?
• Is there evidence of problem solving or quantitative
analysis?
• Has the candidate worked in a team environment?
Teamwork and
leadership skills
Communication
skills
• Has the candidate held any leadership roles? Or
demonstrated leadership qualities in other ways?
• How well does the candidate communicate his or her
thoughts?
g
• How well does the candidate listen and articulate their
responses to questions?
• How has the candidate displayed successful
communication in the past?
2
Sample questions
Understanding/Passion for the markets
Teamwork and leadership

Do you think the stock market is efficient?

Describe a situation where you led a team

What newspapers/publications do you read? Tell me
about an interesting article you read today

Describe a situation where you recognized a problem
or an opportunity and took action

going
g on in the economyy today?
y Where is it
What is g
going and why?

y
championing
p
g an
Have yyou ever found yourself
unpopular position?

How has the U.S. stock market performed YTD and
what are the factors that are driving it higher or
bringing it down? What are your thoughts on how
2015 pans out?

How do you build rapport?

Describe your relationships with colleagues,
professors, bosses and others in a significant
academic/work experience

Describe a situation where you have needed to
sacrifice your personal objective for the team’s benefit

What are the Dow Jones Industrial Average, NASDAQ,
S&P 500? H
How d
do th
they work?
k?

What do you think about gold as an asset class?

In group projects, what role do you tend to take?

Where is the 10-year rate headed?


Where do you see interest rates going and why?
Tell me about a time you failed and how you
responded to it

What is the relationship between interest rates and
exchange rates?

What are your biggest strengths and weaknesses?

How would you invest 1 million dollars?

Why are you passionate about the markets?

Why are you interested in Sales and Trading?

Tell me what a trader does.
Interest in Barclays
Other questions

How did you learn about Barclays and what interests
you in our firm?

Give me an example of something quantitative you
have done in the past

Why do you want to work at Barclays?

How would a friend describe you?

What are the factors that differentiate our firm from
the other bulge bracket banks?

Where do you see yourself in 5 years? What are you
short/long term goals?

What interests you in our program?

What interests do you have outside of work?

What would you like me to know most that is not in
your resume?
3
Interview tips checklist
Before the interview

During the interview
Research Barclays, recent industry and

market related news

eye contact
Review common questions and practice

Display confidence and send a positive
message with your body language
answering them

Offer a firm handshake and maintain good
Think of concrete examples and

accomplishments you can use to highlight
Listen carefully and welcome all questions
with a smile
your skills

Develop a short summary of who you are,

what you do, what makes you unique and
Give honest, direct answers, but stay
positive
why you would be an ideal candidate for an
internship at Barclays

Prepare questions you would like to ask

If you don’t understand a question, ask for
it to be clarified or repeated
4
About Barclays
Investment Bank
Barclays is an international financial
services provider engaged in personal,
corporate
co
po ate and
a d investment
vest e t banking,
ba
g, credit
c ed t
cards and wealth management with an
extensive presence in Europe, the
Americas, Africa and Asia. Barclays’
purpose is to help people achieve their
ambitions – in the right way.
John McFarlane
Executive Chairman
With 325 years of history and expertise in
banking, Barclays operates in over 50
countries and employs over 130,000
people. Barclays moves, lends, invests and
protects money for customers and clients
worldwide.
Group
Functions
Ma
arkets
and
a
Ressearch
Banking
Investment Bank
Barclaycard
Africa Banking
Corporate Finance
Mergers & Acquisitions
Sales
Compliance
Trading
g
Human
Resources
Personal and
Corporate Banking
Global Finance
and Risk Solutions
Research
Finance
5
Public
Finance
Risk
Trade
Capture Utility
Technology
About Barclays
Markets and Research

Products trade 24 hours a day, affect almost every other asset class and centers around
macroeconomic events such as central bank policy, geopolitical events, and trade
imbalances.

p Include: Foreign
g Exchange,
g , Interest Rates,, Swaps,
p , Treasuries,, Commodities
Groups

Credit products span capital structure and Barclays acts as a provider of liquidity in a
variety of debt markets.

Groups Include: High Yield/High Grade Bonds, Leveraged Loans, Distressed Debt, Primary
CMBS, Securitized Products, Municipal Bonds

The
h Equities division
d
provides
d execution services for
f many exchange
h
traded
d d and
d over-theh
counter products and facilitates access to risk management tools.

Groups Include: US/Global Equities, Electronic Sales and Trading, Equity Derivatives
(Options), Equity Syndicate

The Prime division distributes firm’s stock inventory and provides leverage to clients to
purchase assets both physically and synthetically.

Product offering encompasses Equities, Fixed Income, and Derivatives. Groups include
Equity Finance, Synthetics, Prime Lending and On-Boarding.

Barclays Capital is committed to providing our clients a best-in-class global research
franchise. The team of more than 750 Research professionals covers every discipline,
asset class and region. With the team’s experience and expertise, they deliver
actionable insights and innovative products to clients, partnering with them to ensure
they best leverage the firm’s resources and make informed investment decisions.

The Public Finance team is dedicated to providing comprehensive investment banking
and capital markets solutions to public sector clients. Covering state and local
governments, public authorities, health care systems, universities and other not-forprofit organizations, the Public Finance team helps clients with their complex financial
needs.

Client Capital Management (CCM) is responsible for the management of Capital and
Balance sheet across multiple product classes to ensure appropriate returns for our
shareholders whilst continuing to deliver for our clients.

Barclays Treasury is responsible for ensuring the stability and safety of the bank by
optimizing its use of scarce liquidity, capital and balance sheet resources.
Macro
Credit
Equities
Prime
Research
Public Finance
Client Capital
Management
Treasury
6
Tips from the intern class of 2015
“I prepared a stock
pitch and although
no one ever asked
for it, it really
helped
p because it
forced me to have
knowledge about
the market and
about a specific
sector – mine was
an energy stock.
Even if no one asks
for it explicitly, you
can still weave the
knowledge into the
conversation.”
“Have a story. Don’t just list off your resume, put it into a story that
makes sense and focuses around your strengths and what you are
interested in.”
“Don’t get flustered if you
don’t know the answer to a
brain teaser question, just
work through
g yyour thought
g
process out loud. It is much
more important to hear what
you are thinking than your
answer.”
“Have a structured and concise answer to,
‘Tell me about yourself’.”
“Don’t get caught talking too fast during the
interview. Try to speak slowly and calmly.
Also, eye contact is important.”
“BE YOURSELF.”
7
“Understand how a
bank is structured and
the key differences
between what yyou can
do in sales and trading
versus investment
banking so that you
have a concrete thought
on why you want this
job over the others.”
“When you think about
the
h skills
k ll that
h you have
h
that will help you do
well in this job, have
concrete examples of
where you have
displayed these skills
before.”
Resources
Links and Descriptions
Economic
Releases
Bloomberg
• Incremental information
• News/releases that can affect various
markets or global regions
• Manufacturing Orders
• Factory Orders
• Make note of recurring releases such as
Initial Jobless Claims
• Federal Reserve and unemployment
releases are always important
Earnings
Releases
Bloomberg
• Specific to current release period
Market
Summary
Bloomberg
• Important metrics for understanding
market performance
• Useful for understanding dynamics
between various different asset classes,
geographical regions, etc.
US Global
Economic
News
WSJ




NYT
• ‘Front
Front Page’
Page headlines
• Business section
• US/World section for other non-market
related news
Reuters
• World section
• Markets section
• Business section
Bloomberg
• News/market sections
• Market summaries/statistics
Read the headlines
Market section
Note incremental information
Summary statistics
8
Appendix
Desk Descriptions – Credit
Desk
Description
HG Credit Trading
The High Grade Cash Trading team includes Flow Trading (cash and derivatives), Index Trading, Hybrid Trading,
Esoterics Trading (Private Placements/Illiquids) and Yankee Trading (Int’l Credit). By partnering with Sales and
Research, the High Grade Credit Trading Desk offers liquidity and the execution to institutional investors
(insurance companies, money managers, & hedge funds) across the globe. The desk seeks to maximize the
Firm’s return on capital while operating under preset balance sheet and credit parameters. Each trader focuses
on specific sectors and makes markets which balance their core credit views with the demands of customer
liquidity needs.
needs Daily activities include buying and selling securities
securities, providing market color and creating trade
ideas. Important skills include risk management, strong analytic skills, and in depth knowledge of products,
companies and sectors.
HY Credit Trading
High Yield Credit Trading includes cash and derivative trading of corporate issuers whose ratings fall below
investment grade (BB+ or lower), as well as Index trading. High Yield trading works closely with Sales, Research,
and Distressed and Loan counterparts to deliverer liquidity and best execution to qualified institutional investors
and hedge funds across the globe. Traders focus on specific sectors and issuers. Daily activities include making
markets that balance their core credit views with the demands of customer liquidity needs.
needs In close effort with
Sales and Credit Research, HY traders seek to maximize the Firm’s return on capital against preset balance sheet
and credit parameters. High Yield traders have spent or will spend time in Research to fully understand credit
analysis and fundamentals. Important skills include an understanding of credit analysis and risk management.
Loan Trading
The Loan Trading Desk focuses on the trading of higher yielding performing loans. Each trader focuses on
specific sectors and makes markets which balance their core credit views with the demands of customer liquidity
needs. The desk analyst performs the fundamental credit analysis on specific credits and develops actionable
i
investment
t
t ideas
id
for
f both
b th the
th trading
t di desk
d k and
d the
th loan
l
accountt base.
b
By
B partnering
t i with
ith Sales
S l and
d our
dedicated team of research analysts, the Leveraged Loan trading desk offers liquidity, idea generation and best
execution to a variety of loan market participants including Banks, Hedge Funds, CLOs, Mutual Funds and BDCs.
Loan traders seek to maximize the Firm’s return on capital against preset balance sheet and credit parameters.
Important skills include an in depth understanding of credit fundamentals, relative value, and strong analytic
skills.
Distressed Debt
Trading
Distressed Debt Trading includes cash and derivative trading of corporate issuers who are near term default
candidates,
dd
currently
l in bankruptcy
b k
or liquidation,
l
d
or who
h have
h
recently
l resurfaced
f d from
f
the
h bankruptcy
b k
process
as a reorganized company. The team works closely with our High Yield and Loan trading partners in Credit, often
teaming up on specific issuers as credit stories evolve/become more volatile. By partnering with Sales and our
dedicated team of desk analysts (non-publishing research), the Distressed Debt trading desk offers liquidity and
best execution to qualified institutional investors and hedge funds across the globe. Traders operate in a variety
of sectors and issuers, making markets that balance recovery and credit views with the demands of customer
liquidity needs. Distressed traders seek to maximize the Firm’s return on capital against preset balance sheet and
credit parameters. Important skills include an in depth understanding of credit fundamentals, relative value, and
strong analytic
l i skills.
kill
Credit Sales
The US Credit Sales Group engages in transactions in investment grade and speculative grade corporate bonds,
loans, and derivatives (credit default swaps, index, swaptions, etc). A sales person will focus on one of the
aforementioned products, however will be rotated on several Sales desks during the internship. All Sales Teams
works hand in hand with Trading, Syndicate, Strategy, and Research to deliver the Barclays Credit Franchise to
clients. The credit salesperson is the main point of contact for clients and is responsible for managing client
relationships. Daily activities include discussing trade ideas, digesting and explaining market trends, handling
sensitive information, and helping to manage risk for the trading desk. Important skills include strong verbal and
written communication skills, prioritization skills, and attention to detail.
9
Desk Descriptions – Credit
Desk
Description
Latam Trading
The Latam Trading Desk is the most active trading desk in Latin American debt and credit derivatives. The desk
has 3 major components: Credit Derivatives, Corporate credit and Sovereign Credit. The focus of our New York
desk on Latin America is driven primarily by an overlapping time zone. By partnering with Sales and Research,
the Emerging Markets Credit Trading Desk offers investment ideas, market intelligence, liquidity and execution to
qualified institutional investors (insurance companies, investment managers, banks, sovereign wealth funds &
hedge funds) across the globe. The multinational nature of Emerging Markets adds a diverse range of specific
macroeconomic factors and conditions to our business in addition to its primary credit component.
component In the
business, traders are normally divided by geography and/or sector.
Primary CMBS
(securitized
products)
The Primary CMBS group is involved in the origination, underwriting and securitization of commercial real estate
loans. The group provides primarily fixed rate financing for stabilized properties for loan sizes ranging from
$2MM to upwards of $500MM.The ultimate execution of the loans is via a capital markets exit whereby the
bonds are rated by multiple NRSRO’s and are syndicated to both Investment Grade and High Yield investors. In
addition to originating and underwriting loans for securitization with the firm’s capital, the group also acts as
placement agent for various GSA entities and private label non-bank
non bank financial issuers.
issuers
Securitized
Products Sales
(securitized
products)
The Securitized Products business provides clients with investment opportunities in Agency and Non-Agency
Fixed Income instruments. These instruments are backed by cash flows from residential and commercial
mortgages, credit cards, student loans and auto loans as well as a broad spectrum of esoteric cash flows.
Securitization is the process of pooling cash flows and creating structures that match clients’ investment needs.
Our dynamic product suite extends from highly liquid Agency pass-through securities to highly customized
credit tranches. Securitized Products allow exposure to every facet of the Fixed Income markets including
d ti
duration,
convexity,
it and
d credit
dit risk.
i k Securitized
S
iti d Products
P d t investors
i
t
include
i l d Money
M
Managers,
M
Hedge
H d Funds,
F d
Pension Funds, Banks, Insurance Companies, Government Agencies, and other Institutional Investors.
Securitized
Products Trading
(Securitized
Products)
The Securitized Products group is involved in the securitization, marketing and trading of liabilities backed by a
defined real asset. The assets underlying these deals encompass everything from commercial and residential real
estate to consumer loan debt and more esoteric assets like aircraft and cell towers.
The group sits directly between credit trading and interest rate trading in the menu of services Barclays Capital
offers.
ff
Securitized
d products
d
are traded
d d in a wide
d range off markets.
k
The
h group makes
k markets
k
in very liquid
l
d
sec …
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