From Screening to Signing: A Guide to Interviewing Financial Services Candidates

Interviewing candidates in the financial services industry requires both a strategic approach and a keen intuition. While metrics and other quantitative measures are crucial, the art of understanding a candidate beyond their resume plays an equally important role. Here are some best practices to help your organization strike the right balance and identify top talent in a competitive marketplace.

The Screening Process

Before diving into interviews, the initial screening of candidates sets the foundation for a successful hiring process. Reviewing resumes may not be the most exciting task, but it is critical. Here are a few strategies to streamline your efforts and pinpoint candidates who align with your needs:

• Consider career progression. Look for a logical progression in the candidate's career that reflects both personal growth and alignment with industry trends.

• Analyze resume content beyond buzzwords. Understand the actual roles and responsibilities the candidate has held, not just the jargon.

• Check for attention to detail. Spelling or grammatical mistakes may indicate a lack of attention to detail or genuine interest.

• Assess timeliness of resume information. If you find outdated information, consider whether it is due to the recruiter's timeline or the candidate's preparedness.

• Look for industry-specific qualifications. Note any relevant certifications or specialized training.

The Interview Process

Once you have identified promising resumes, the next step is conducting interviews. Ideally, you should conduct initial interviews in person; however, video conferencing can be an effective alternative when logistics require it.

The first interview should serve as an introduction rather than an in-depth discussion. Focus on tailored questions related to the candidate’s experience and skills, and avoid discussing compensation at this stage. Instead, use your intuition to observe the candidate’s behavior and responses closely.

Here are some insightful questions to help you gauge a candidate’s personality, strengths, and weaknesses: 

• Have you participated in athletics? 

• What awards have you earned, and how challenging were they to achieve? 

• Have you ever played an instrument or been in a band? 

• Do you have any military experience? 

These questions can provide valuable insights into a candidate's ability to work in a team, take direction, demonstrate perseverance, and respect hierarchy.

If you are conducting the interview with a colleague, decide beforehand who will take the lead in asking these questions to ensure a smooth process.

Sell Your Organization: 6 Key Differentiators

As you evaluate candidates, remember that they're also assessing your organization. Today's top talent often has multiple opportunities to consider, so positioning your organization as the best choice is critical. Focus on these key areas to make your organization stand out:

1. Your brand

Candidates want to feel connected to a company that aligns with their values and aspirations. Share stories that bring your brand to life—examples of how your company has made a difference, supported the community, or demonstrated a commitment to ethical standards. Illustrate how your organization goes beyond business objectives to impact people and society positively. Highlight initiatives, such as sustainability efforts, diversity and inclusion programs, or charitable contributions, that show your company’s dedication to making a meaningful difference. 

2. Your culture

Culture is often a deciding factor for candidates, especially those seeking a fulfilling and enjoyable work environment. Paint a vivid picture of what it's like to work at your organization by sharing engaging stories or anecdotes about company events, team-building activities, and day-to-day life. Discuss unique traditions or rituals that foster a sense of belonging and community. Mention opportunities for collaboration, mentorship, and professional development that demonstrate your organization's commitment to employee growth.  

3. Your vision

Articulate a clear and compelling vision for your organization’s future. Explain not just where your company is today, but where it aims to be in the next 5 to 10 years, and how it plans to get there. Show candidates that they have a vital role to play in this journey by demonstrating how their skills, experiences, and aspirations align with your strategic goals. 

4. Your opportunities for growth

Candidates are increasingly focused on opportunities for career development and advancement. Highlight the pathways for growth within your organization, including training programs, leadership development initiatives, or opportunities to work on cross-functional projects. Share success stories of employees who started in one role and advanced to higher positions through mentorship, education, or hard work. Make it clear that your organization invests in its people and is dedicated to helping them achieve their full potential. 

5. Your commitment to work-life balance

In today’s fast-paced world, work-life balance is a top priority for many candidates. Share how your organization supports employees in maintaining a healthy balance between their professional and personal lives. This could include flexible working arrangements, remote work options, generous leave policies, wellness programs, or mental health resources.  

6. Your employee experience

Beyond salary and benefits, candidates are looking for an experience—a place where they can see themselves thriving day-to-day. Highlight perks that make your organization a great place to work, such as innovative office spaces, social events, or unique benefits that set your company apart.  

Sealing the Deal: Your Path to Hiring Top Financial Talent

By focusing on these elements, you are not only showcasing your organization’s strengths but also creating a narrative that resonates with candidates on a personal level. Remember, the goal is to make them feel excited and inspired about the prospect of joining your team. The more they can see themselves contributing to and thriving within your organization, the more likely they will choose you over other opportunities.

Remember, the key to successful hiring in the financial services industry lies in balancing thorough evaluation with effective promotion of your organization. By implementing these strategies, you'll be well-positioned to attract and secure the best talent in this competitive field.