Competency-based interviews are a cornerstone of the recruitment process for senior-level positions in the UK’s Wealth Management market. These interviews aim to delve deep into your professional experiences, behaviours, and skills to evaluate your suitability for the role. At Signia, we’ve crafted a comprehensive guide to help you excel in competency-based interviews and secure that coveted executive position.
Research the Competencies
Start your journey by gaining a firm understanding of the key competencies relevant to the role you’re pursuing. Sometimes, these competencies are explicitly mentioned in the role profile. However, if they’re not, you can employ the following techniques:
– Analyse the job description to identify hints about required competencies.
– Connect with the company’s values and culture to discern the competencies that align with their ethos.
– Reflect on the initial interview stage; consider what aspects were emphasised during that conversation.
– Consult with your dedicated recruitment professional at Signia for their insights on the essential competencies.
The goal is to pinpoint the specific skills and behaviours that are likely to be evaluated during the interview.
Reflect on Past Experiences
Draw from your professional journey and reflect on instances where you’ve demonstrated the desired competencies. Your focus should be on real examples that showcase your achievements, problem-solving abilities, leadership skills, teamwork, and adaptability.
Remember, competency-based interviews are all about illustrating your competence through concrete experiences.
Utilise the STAR Technique
When structuring your responses during the interview, make use of the STAR technique. This approach helps you provide a comprehensive answer:
Situation: Begin by describing the context and the challenges you faced.
Task: Explain your responsibilities and objectives in that particular situation.
Action: Delve into the actions you took to address the challenge.
Result: Share the outcome of your actions, and if possible, quantify the impact of your decisions.
In the interview, pay close attention to the questions. Try to discern which competencies the interviewer is interested in exploring. Respond by highlighting relevant skills, past experiences, and achievements that demonstrate your ability to excel in the role.
Detail Matters
Our experience at Signia suggests that a response should ideally last around 5 to 7 minutes. Striking the right balance between conciseness and providing enough detail is crucial. Remember that your goal is to convey your competencies effectively without overwhelming the interviewer.
Practise, Practise, Practise
To refine your competency-based interview skills, engage in mock interviews with a trusted friend or mentor. This practice will help you articulate your responses confidently and showcase your expertise seamlessly. Work through the STAR format in these practice sessions and get comfortable with the structure of your answers.
Be Yourself
While thorough preparation is essential, don’t forget to be genuine and let your unique qualities shine. Employers want to understand how you’d fit into their corporate culture. Be honest, enthusiastic, and authentic in your responses. Your individuality can be a powerful asset during these interviews.
Avoid Common Mistakes
One common misstep to avoid is using the word ‘We’ too often. Phrases like “We were tasked with” or “I was part of a team, and we carried out” can dilute your personal contribution. Remember, you are being interviewed, not the team. Focus on your individual actions and accomplishments.
By following these steps, you’ll be well-prepared for competency-based interviews and ready to showcase your unique competencies effectively. At Signia, we’re here to support your journey towards securing that senior-level position in the Wealth Management sector.
