Bank of America - Market Risk Analyst Program (MRAP) Interview

Hi guys,

I'm just wondering if anyone has ever gone through BofA's MRAP interview, or any other Market Risk Analyst interview, and could maybe provide some tips and example questions. What should I expect them to ask me? How should I prepare? (This is my first Market Risk interview, and I'm also not that familiar with Finance, being a Statistics major.) Any help welcome and appreciated!

 

MRAP is a pretty solid program...worked with an MRAP intern there last summer and was told the program only recruited like 4 FT per year? Heard their end-of-summer interviews were intense and technical (FX questions, hedging, option/swaps pricing, etc)...for the interview given you're stat major,you should probably know your quant stuff (time series, monte carlo, other stat/probabilities formulas, etc), and maybe things like risk-return (stdev, expected returns, covariance), sharpe ratio, etc.

 

I had an on-campus internship interview with BoA. Technical questions include: probability questions (roll a die/draw cards etc) and I happened to know some black scholes (as an undergard), so there were a few questions around that topic. I had on-site with GS market risk FT. Technical questions were tough, from differentiation to calculate combination and also some stats questions. I had exposure to VaR, they also asked me questions about what is VaR/how to calculate.

 

I had an on-campus internship interview with BoA. Technical questions include: probability questions (roll a die/draw cards etc) and I happened to know some black scholes (as an undergard), so there were a few questions around that topic. I had on-site with GS market risk FT. Technical questions were tough, from differentiation to calculate combination and also some stats questions. I had exposure to VaR, they also asked me questions about what is VaR/how to calculate.

There is another post about MRAP...did they really start recruiting this early? My friend got into this program with a 3.0 GPA

 

it's market risk...read up on margin schedules and appropriate haircuts that need to be taken...how a treasury is less risky than a corp bond and how munis are more risky than a corp bond etc. Understand how a VAR model works (Value-at-Risk)...i think if you understand those concepts you should be ok. Also understand how those risks are mitigated by the haircuts or cash collateralization etc.

 

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