Behavioural preparation - 2 Flashcards

1
Q

Prioritization and Decision Making

Tell me about a time you had to prioritize competing product features with limited resources. How did you approach the decision-making process, and what was the outcome?

Situation | Action | Result

A

Situation - I once had two similar projects running in parallel but at different phases (one had gone live, one hadn’t) being delivered by the same scrum team. One of the Projects had gone live whilst the other needed to gain some traction.
Action - I asked worked with the tech lead to provide a highlevel estimation of the end to end work remaining and based on this I decided to prioritize one over the other as the risk of putting it off was far higher than not completing the work for the other project.
Result - I had to have a potentially painful conversation with one customer. The other didn’t know that we’d devoted time/resources to their project. There was no need to tell them.

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2
Q

Prioritization and Decision Making

Describe a situation where you disagreed with a stakeholder about a product decision. How did you navigate this disagreement and ultimately reach a resolution?

Situation | Action | Result

A

Situation - when I worked at CPD I disagreed with a Sales/Pre-Sales collegue about the channels that we should offer to our customers.
Action - I was invited by my boss to spend a couple of days at a Sales offisite and this particular collegue was in attendance. I took sometime to understand his view point wrt to the channels we should offer and then gave mine. It was very civil and respectful, we’re friends.
Result - I can’t say that after that meeting I had convinced my collegue to promote any channel. But I believe I’d sown a seed for him to atleast consider an alternative.

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3
Q

User Insights and Problem Solving

Share an instance where you identified a key user pain point. How did you gather data and insights to understand the problem better, and what solution did you implement?

Situation | Action | Result

A

Situation - I joined CPD from Sabre where I’d worked on a white label with an onboarding tool. When I joined CPD I noticed a lot of time and resources being put into onboarding which should haven’t required as many resources or any Devs.
Action - I discussed the amount of Dev resource effort was being used with the Tech lead. We then collaborated with the Delivery Lead to discuss how we could help. We then added some features to the next roadmap as a PoC to show what could be achieved to relieve the bottleneck.
Result - more time for the Devs to work on other things. Momre empowerment to Delivery.

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4
Q

User Insights and Problem Solving

Describe a metric that was initially unclear or misleading. How did you dig deeper to understand its true meaning and its implications for the product?

Situation | Action | Result

A

Situation - In CPD it was the first time I’d worked in a payments organisation. The key metrics that we used were: processor payment acceptance rate and payment conversion rate. Which were straightforward. But the metric I used to untangible or obscure was the ‘false positive metric’.
Action - I gained an understanding of it from my boss but it still didn’t seem clear how we could reduce this metric. i.e. it was a blackbox (fraud mgt system). However, as with most things at CPD I did my research online to obtain the knowledge so that I could at least contribute to ideating how we could reduce false positives.
Result - 3DS2 is the one way. Implementing that by providing a device fingerprint enables more data to be used in the determination of the validity of the transaction.

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5
Q

Collaboration and Communication

Tell me about a time you collaborated effectively with a cross-functional team (e.g., engineering, marketing, design) to achieve a product goal. What challenges did you encounter, and how did you overcome them?

Situation | Action | Result

A

Situation - in my role in CPD I was nearly always collaborating with another team. This example is about integrations impacting the frontend.
Action - I set up a 3 step process so that every time we had a new impactful payment method we would provided the integration team with the frontend deisgn, PRIOR to them completing their work.
Result - we avoided a situation where the backend service didn’t allow the frontend to be implemented as we would like,

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6
Q

Collaboration and Communication

Share an example of how you communicated a complex product concept to a non-technical audience. What communication strategies did you use, and how did you ensure understanding?

Situation | Action | Result

A

example - WEB SDK

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7
Q

Leadership and Impact

Describe a situation where you took initiative and went above and beyond your core responsibilities to improve the product. What was the impact of your actions?

Situation | Action | Result

A

I created a PoC to show how we could avoid a one size fits all.

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8
Q

Leadership and Impact

Tell me about a time you mentored or coached a junior product manager. What were the key learnings you shared, and how did you help them develop their skills?

Situation | Action | Result

A

Change the question to a ‘Business analyst’. I helped Olga with understanding the importance of brevity and developer empathy. She got better at communicating Product’s needs to the Dev team and as a result quality improved.

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9
Q

Product Strategy and Execution

Share an instance where you developed a product roadmap with specific goals and milestones. How did you track progress and ensure successful execution?

Situation | Action | Result

A

Situation - new Payment page - firefly
Action - broke it up into phases
Result - we had a new payment page that was built on each release to initially replicate the incumbent and then to use a prioritzed feature list to improve it.

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10
Q

Product Strategy and Execution

Describe a product launch you were involved in. What were the key considerations, and how did you measure the launch’s success?

Situation | Action | Result

A

DCC, adoption/attach rate

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11
Q

Data-Driven Decision Making

Describe a situation where you had to make a critical product decision based on conflicting data signals. How did you evaluate the data, identify the most reliable sources, and reach a conclusion?

Situation | Action | Result

A
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12
Q

Data-Driven Decision Making

Share an instance where you identified a data anomaly or inconsistency. How did you investigate the issue, determine the root cause, and use the insights to improve the product?

Situation | Action | Result

A

Gulf Air, ticketed bookings without payment. Root cause analysis was requested of the tech lead.
The root cause was identified and patched.

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13
Q

Data-Driven Decision Making

Tell me about a time you used A/B testing to optimize a product feature. What was the hypothesis, how did you design the test, and what were the results?

Situation | Action | Result

A

Travel insurance
Placement in the flow would not reduce the booking of tickets
It didn’t.

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14
Q

Data-Driven Decision Making

Capital One utilizes various platforms and tools to provide financial services. Describe a situation where you analyzed data from multiple sources (e.g., customer transactions, app usage, market trends) to inform a product decision at Capital One. What were the key insights, and how did they impact the product?

Situation | Action | Result

A

Etihad booking flow - analysis of rejection rate.
Checked the analytics and the booking engine reports
Although they didn’t match 1:1 the indication was that after clicking the pay button we rejected a high number of bookings based on our business rules.
We provided the data to the team responssible.

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15
Q

Data-Driven Decision Making

Imagine you’re tasked with improving customer engagement for a specific Capital One product (e.g., Eno, mobile app). How would you leverage data analytics to identify areas for improvement and measure the effectiveness of your proposed solutions?

A

“If I were tasked with improving customer engagement for Capital One’s mobile banking app, I’d start by analyzing relevant data points beyond basic metrics like goal completion rate. For instance, I’d segment users based on demographics, account types, and engagement levels to identify specific groups dropping off during the bill pay process. Utilizing user pathing tools and heatmaps would help understand the exact points of friction. Furthermore, I’d leverage Capital One’s internal data platform to analyze Tealium data and gain insights into user journeys and identify potential optimization opportunities within the app’s information architecture. Finally, I’d analyze the usage duration and frequency across different user segments to assess overall product stickiness and potential accessibility issues.

Based on my analysis, I might recommend simplifying the bill pay interface, offering in-app tutorials for specific user segments, or integrating AI-powered chatbots for personalized assistance. The effectiveness of these solutions would be measured by tracking changes in specific metrics like bill pay completion rate, time spent within the app, and user satisfaction surveys.”

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16
Q

Product Metrics and KPIs

Capital One prioritizes financial inclusion and accessibility. How would you define and track key metrics related to these values in the context of a specific product or service?

Situation | Action | Result

A
17
Q

Product Metrics and KPIs

Fraud prevention is crucial for a financial institution. Describe a scenario where you analyze transaction data to identify and mitigate potential fraud risks for a Capital One product. What specific metrics would you focus on?

Situation | Action | Result

A
18
Q

Data-Driven Decision Making

Tell me about a time you used A/B testing to optimize a product feature. What was the hypothesis, how did you design the test, and what were the results?

Situation | Action | Result

A
19
Q

Data-Driven Decision Making

Capital One strives to personalize its offerings for individual customers. Explain how you would utilize data and analytics to personalize the user experience within a specific product, considering ethical and privacy concerns.

Situation | Action | Result

A
20
Q

Product Growth and Marketing

Capital One operates in a competitive financial services landscape. How would you approach developing a product growth strategy for a specific Capital One offering, considering its target audience and unique value proposition?

Situation | Action | Result

A
21
Q

Product Growth and Marketing

Financial literacy and responsible financial management are core values at Capital One. How would you integrate these values into the marketing strategy for a new product or feature?

Situation | Action | Result

A
23
Q

Product Growth and Marketing

Cybersecurity awareness is vital for protecting customer information. Describe how you would incorporate security considerations into the product development and marketing plan for a new Capital One offering.

Situation | Action | Result

A