I applied online. The process took 4 weeks. I interviewed at Capital One (Washington, DC) in Apr 2016
Interview
The interview process is basically just like everyone has stated:
1. Phone screening
2. Basic coding quiz
3. Technical Phone interview
4. Data challenge
5. On-site interview
I don't have much to add over what others have said about the process, but I can confirm that the job does in fact exist and they are not just collecting data. The standards are high but if you can prove that you have a good understanding of statistics and the ability to reason through problems (both business and coding), your application will be well received. I left the on-site interview with mixed feelings about my performance, but wound up getting a very competitive offer with some flexibility regarding location.
Interview questions [1]
Question 1
They were interesting in my research experience which utilized some computational statistics.
I did an online assessment testing programming skills for 150min. I completed within 40 min since I worked with python this year. Three questions about numeric and one question about strings.
First got an online assessment that costs 30mins with 7 questions. After passing the assessment, I got a 15mins phone interview. With passing the phone interview, I received a 2-hour on-site interview with a friendly environment, including 1-hour behavior, 1-hour case. The case is basic calculations with requiring clear thought of their quesitons.
Interview questions [1]
Question 1
what are the components to approve a credit card transaction