Millennium interview questions

Interview was casual and laid back. Questions about your alpha research pipeline, i.e. how you test ideas, what statistics do you look at / general ML questions like how do you deal with overfitting in specific cases. The whole thing felt like a conversation. Interviewer was nice and responsive. unfortunately it didn't go beyond that interview despite the good vibes.

Quant due diligence process. Lots of calls with data, tech, risk, senior management. They focus a lot on understanding your business and if you fit in their framework. They dig into your track record deeply by looking not only on headline numbers (Sharpe, profit, turnover, etc.), but on drawdowns, risk models, drawdown management strategies. They also focus on business continuity - how do you generate ideas, how many, etc. Big focus on future plans as well. During the process you get to know a big portion of people whom you will interact with later if you join. Then offer negotiation stage happens. If you do this for the first time, do not hesitate to spend serious money on lawyer - completely worth it. I have talked with several «multi-manager» firms, and Millennium’s business development guy was the most involved into the process among others, but did not push and allowed the process to move in comfortable pace. Yet, at one point we felt a need to speed up things, and several interviews happened back to back in just two weeks. They did not fish for trading ideas, and were completely straightforward and transparent in general. Overall, good process, good outcome, good offer.