BNY Senior Associate Interview Questions, Process, and Tips for Experienced

Q1. What is a journal entry for buy transaction
Ans. 
A journal entry for a buy transaction involves debiting the asset account and crediting the cash account.
• Debit the asset account for the cost of the purchase

• Credit the cash account for the amount paid

• If the purchase was made on credit, credit the accounts payable account instead of cash

• Example: Debit Equipment for $10,000 and credit Cash for $10,000
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Q2. How do we calculate incentive fees
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Incentive fees are calculated based on a percentage of the profits earned by the investment manager.
• Incentive fees are typically calculated as a percentage of the profits earned by the investment manager

• The percentage charged can vary depending on the terms of the agreement between the investment manager and the client

• For example, if the investment manager earns a profit of $100,000 and the agreed-upon incentive fee is...read more
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Q1. Mainframe, JCL, SI related questions
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Q1. SI, SFG, CD related questions
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Q1. Management Round with Head of Department
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Q2. Process and management related general questions
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Q1. Salary Discussion
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Q1. Will you be comfortable with working anywhere across the country
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Q1. A question related to a small case study
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Q2. In a once in day ingested reconciliation table in a sql database, there are open breaks increasing day by day , despite each line of business having, more items closed than reported open for a day, since...read more
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Q1. Explain Logistic Regression with one use case
Ans. 
Logistic Regression is a statistical method used to predict the probability of a binary outcome based on one or more predictor variables.
• Logistic Regression is used when the dependent variable is binary (e.g. 0 or 1, Yes or No).

• It estimates the probability that a given outcome is true based on input variables.

• It uses a logistic function to model the relationship between the dependent variable and independent variables.

• ...read more
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Q1. Spring Java jpa
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Q1. Derivatives types
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Q2. What is the golden rules
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The golden rules are fundamental principles or guidelines that should be followed for success or ethical behavior.
• Golden rules are universal and timeless.

• They are often based on moral or ethical values.

• Examples include 'treat others as you want to be treated' and 'do unto others as you would have them do unto you.'
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