Hiring Strategy

How to Build an Effective Interview & Hiring Plan in Financial Services

August 13, 2025

The difference between securing the right hire and losing them often comes down to process, not just pay.

The strongest candidates, the ones who will move the needle for your business, often have multiple offers on the table. They’re not just deciding based on who they meet, but how the process is run. A well-structured hiring plan signals efficiency, culture, and leadership quality before they’ve even joined. Whether you’re hiring a graduate analyst or a Chief Compliance Officer, the principles remain the same: clarity, speed, and consistency.

Step 1: Define the Role Clearly and Tell a Story

Before you advertise or speak to candidates, ensure:

Responsibilities are documented and agreed internally.
Skills & qualifications are prioritised into “must-have” and “nice-to-have” overloading with non-essential requirements can deter strong applicants.
Success measures for the role are defined (e.g., “deliver X within first 6 months”).

Then take it further:
Don’t just post a bullet-point list of duties. The most effective job descriptions lead with a story; who you are, where the business is heading, recent achievements, and why this role matters to that journey.

For example:
“We’ve doubled assets under management in the past 18 months, expanded into two new markets, and are now looking for a Head of Risk to help us scale responsibly and prepare for an ambitious growth phase.”

Story-led job descriptions not only attract more applications, they help candidates connect emotionally with your mission and that can make all the difference when they’re looking to apply or when they are considering multiple offers.

Step 2: Map the Interview Structure

A good process blends technical evaluation, cultural fit assessment, and soft-skill analysis. For Financial Services roles:

Early stage: Screening call (30–45 mins) to assess career story, motivation, cultural fit and key technical foundations.
Middle stage: Panel interview with technical or case-study component relevant to the role’s domain (e.g., risk scenario analysis, investment case, AML remediation plan).
Final stage: Leadership or stakeholder interview to explore cultural fit, communication skills, and long-term alignment.

Tip: Use consistent scoring criteria at each stage to reduce bias and improve
decision-making.

Step 3: Set Timelines and Stick to Them

In-demand FS candidates often have multiple offers within 2–3 weeks of starting
their search. That means they’re weighing process as much as the role itself.

A smooth, well-communicated process tells candidates you run your business
efficiently.
Delays, mixed messages, or disorganisation can send the opposite signal and tip them toward another offer.
Avoid gaps of more than 5 working days between stages where possible.

Step 4: Prepare Your Interviewers

Interview effectiveness depends on interviewer readiness.

Brief panel members on the role, candidate CV, and focus areas for questioning.
Agree in advance who will cover which topics to avoid repetition and missed areas.
Train interviewers on compliance with employment law and avoiding discriminatory questions.

Step 5: Gather Feedback Quickly and Decide

The best candidates won’t wait long. Collect written feedback within 24–48 hours of
each interview.

Use a standard form or scoring grid.
Debrief quickly to avoid decision drift.
Make offers promptly, hesitation can lose your first-choice hire.

Step 6: Close and Onboard Well

Offer acceptance isn’t the end of the hiring plan. The onboarding phase sets the tone
for performance and retention.

Send contracts quickly.
Keep communication open during notice periods. Meet your next hire for lunch or invite them for a drink with the team etc.
Have an onboarding plan covering induction, training, and 30/60/90-day milestones.

When to Consider Engaging a Specialist Recruiter

Many FS firms run their hiring in-house with success, but there are moments when a specialist partner adds real value:

✔ Niche or senior roles where talent pools are small (e.g., SMF holders, Heads of Risk, specialist profiles).

✔ Confidential searches where market discretion is key.

✔ Time-sensitive hires where delays risk project or regulatory deadlines.

✔ Market mapping when entering a new sector or location.

At FS Talent Group, we work as an extension of your hiring team, not a replacement. We provide market intelligence, pre-vetted shortlists, and discreet search capability, ensuring you meet the right people faster without sacrificing rigour.

Final thought:
An effective hiring plan isn’t about making it complex, it’s about being structured, decisive, and candidate-focused. Get that right, and you not only improve your chances of securing the best talent, but you also strengthen your employer brand in a competitive Financial Services market. Remember: for top candidates, your hiring process is their first experience of how your business operates and that can be the deciding factor.

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