UBS: Investment banking technology (internship)

Question

What is your understanding of the role of an investment bank?

Candidate's answer

An investment bank is a financial institution that performs many services for the firm and clients. It's role in society should not be underestimated, as the financial services industry is intertwined into every facet of society.

Question

What is your understanding of UBS as a company?

Candidate's answer

UBS is the largest swiss banking institution and a truly global firm. Renowned initally in asset management, with the greatest amount of wealth under management than any other firm, it has progressed agressively into becoming a full investment bank.

Question

What role do you think technology plays within UBS?

Candidate's answer

Technology is vital for investment banking in general. From the basic, such as providing a platform infrastructure of which everyone can work, to the cutting-edge, such as genetic programming and algorithmic trading.

UBS has shown that it values technology, rather than viewing it as an expense as some rival firms do. It invests heavily in new advancements and leverages that advantage. Areas such as algorithmic trading will grow as technology advances and it is good to see UBS investing in technology to be a leader in these new growing fields.

Question

Tell me about a situation where you have worked within a team to achieve a goal.

Candidate's answer

At university, I was part of the first rowing team. Rowing is the most team-oriented sport as it requires absolute teamwork to be successful. There can be no individual star in an eight man rowing team. In addition to physical fitness, each member of the team has to row in sync with every other member to achieve speed and success. As a team, we aimed to finish in the top ten of every race that we entered for that race season. This required intensive training, six days a week, and total commitment by each team member.

Question

Think about a recent article you have read in the news and explain the content to me.

Candidate's answer

(I decided to talk about the Madoff scandal which had happened just before my interview)

I read about the Madoff scandal in the FT recently. Basically, Madoff, who was a very well respected banker, was running a hedge fund that was essentially a ponzi or pyramiad scheme. The really interesting aspect of this scandal to me, is that this hedge fund has never been profitable. Unlike other hedge funds who are struggling due to the financial climate, Madoff's fund has always been a ponzi scheme. It is really surprising that such a well respected individual can be responsible for such a fraud. I think it is a shame that a scandal of such magnitude has come to light, as it will further damage an already tarnished industry.

These questions were provided to us by a candidate claiming to have interviewed at the institution named above. We cannot guarantee that these were the actual questions asked.