I had 2 interview rounds since I was referred into the company. If you are referred, you get to skip the first phone check with the recruiter. My first round was a 30-minute zoom meeting with a manager. My second round was a series of 4 events. Three 30-minute 1:1 interviews with managers followed by a 30-minute presentation to a group of people on one of Morningstar's IP (they provide background and information to an extent).