Interviews conducted by regulators are rigorous. For example, the FSA has publicly stated that a meaningful percentage of candidates are found not to be competent in the U.K. An additional proportion of candidates are approved, albeit with restrictions. Preparation ahead of regulatory approval interviews is critical to ensure candidates are able to demonstrate competence and an awareness of their development needs.
Promontory has extensive experience and success in preparing board-level (up to and including chairman) and senior management candidates for FSA and equivalent Approved Person Interviews. Drawing on our experience as former members of FSA senior management, where many of us performed these interviews, we use our extensive knowledge of regulatory practice to provide constructive feedback to individuals, including guidance on identifying and addressing shortcomings.
Promontory can assist firms and individuals in a variety of ways in advance of approval interviews. In addition to conducting practice interviews, we prepare and/or comment on gap analyses and development plans and source and deliver specific briefings for candidates.