Your Competency-Based Interview Checklist: A Guide for Finance and Accountancy Professionals
Competency-based interviews are a cornerstone of the recruitment process for finance and accountancy professionals. These interviews evaluate how you’ve applied your skills, knowledge, and experience to real-world situations, ensuring you’re the right fit for the role and the organisation. Preparing effectively is crucial to showcase your expertise and confidence. Here’s your ultimate competency-based interview checklist to help you succeed.
1. Understand the Competencies Required
Start by thoroughly analysing the job description. Identify the key competencies the role demands, such as:
Technical Skills: Proficiency in financial reporting standards (e.g., IFRS, UK GAAP), audit processes, or tax regulations.
Analytical Abilities: Problem-solving, data interpretation, and financial modelling.
Leadership and Teamwork: Managing teams, fostering collaboration, and motivating others.
Communication Skills: Presenting financial insights clearly to stakeholders.
Ethical Decision-Making: Upholding integrity and compliance in financial practices.
2. Prepare STAR Responses
The STAR technique (‘Situation, Task, Action, Result’) is a structured method for answering competency-based questions. Prepare examples that highlight your achievements:
Situation: Describe the context or challenge you faced.
Task: Explain your responsibility in that situation.
Action: Detail the steps you took to address the challenge.
Result: Share the outcome, quantifying results where possible (e.g., cost savings, revenue growth).
Example Question: “Tell me about a time you identified a financial discrepancy and resolved it effectively.”
STAR Answer: Outline a scenario where you used your technical and analytical skills to resolve a key issue.
3. Research the Organisation
Demonstrate your interest and alignment with the company’s values by:
Reviewing their website, recent financial reports, and industry news.
Understanding their core services, clients, and market position.
Familiarising yourself with their company culture and values.
This knowledge will help you tailor your responses to show how your competencies fit their needs.
4. Prepare for Common Competency Questions
While every interview is unique, finance and accountancy professionals often encounter questions such as:
“Give an example of how you’ve improved a financial process.”
“Describe a time when you managed a tight deadline in an audit or reporting task.”
“How have you handled disagreements with a client or team member over financial findings?”
“Tell me about a time you identified and mitigated a risk.”
Prepare varied examples to cover a broad range of skills, ensuring they align with the competencies required.
5. Highlight Your Technical Expertise
As a finance professional, your technical skills are vital. Be ready to discuss:
Your experience with accounting software (e.g., Sage, Xero, QuickBooks).
Knowledge of financial regulations and compliance standards.
Specific methodologies or tools you’ve used for analysis or reporting.
Frame your technical expertise within practical scenarios to show its impact.
6. Practice Your Delivery
Confidence and clarity are essential. To hone your delivery:
Practice with a trusted colleague or mentor who can provide feedback.
Record yourself answering questions to evaluate tone, pace, and clarity.
Focus on concise, engaging responses that remain relevant to the question.
7. Prepare Thoughtful Questions
Showcase your curiosity and engagement by preparing insightful questions, such as:
“What are the company’s key priorities for the finance team this year?”
“How does the organisation support professional development and growth?”
“What challenges do you foresee for this role, and how can I contribute to overcoming them?”
8. Dress the Part
First impressions matter, so ensure your attire is professional and suitable for the company’s culture. A polished appearance reflects your attention to detail and respect for the interview process.
9. Manage Your Nerves
Even seasoned professionals can feel nervous before an interview. To stay calm:
Practice deep breathing techniques.
Visualise your success and remind yourself of your achievements.
Arrive early to allow time to compose yourself.
10. Follow Up
After the interview, send a personalised thank-you email. Reiterate your interest in the role and briefly highlight how your skills align with their needs. A thoughtful follow-up can leave a lasting impression.
Final Thoughts
Competency-based interviews are an opportunity to demonstrate your expertise and value as a finance or accountancy professional. By preparing thoroughly, practicing your delivery, and presenting yourself with confidence, you’ll be well-equipped to impress your interviewers and advance your career. Use this checklist as your guide, and you’ll be one step closer to landing your next role.
