A job interview is not the place for a spur-of-the-moment chat, regardless of how talented you are at spontaneously speaking in front of an audience.  Recruiting teams or managers that freestyle during an interview may come out as unprepared or uninterested in the candidate. Remember that the job seeker judges the interviewer and the organization in the same way as they judge him.

Hiring managers in the financial industry should reflect on what aspects of the position are crucial for its success. What characteristics do you look out for when hiring someone? How will these skills help fulfill your needs as an organization, and which ones aren't so important in this case since you already have hard-working associates with those qualifications who can perform those tasks instead? 

Using these criteria as a guide, the interviewer must build a list of traits, abilities, and types of experience that may be used to screen resumes and choose candidates to invite in. Before interviewing any of the candidates however, ensure that you have thoroughly reviewed the core competencies needed to be successful in the role, while comparing those competencies to their resumes.

The hiring manager needs a solid understanding of the type of interviews that are being conducted and which ones will work best with their company's culture standards because not all interviewing techniques can fit every industry or employer size. There are two main types of interviewing styles:

Behavioral interviews:

This type of job interview puts the candidate on stage, asking them to describe specific situations that they have been in. The argument is founded upon the principle that previous performance is the best predictor of future behavior - when a candidate’s actions were tested in a post role, it should predict how well he or she would act again in a similar situation. For instance: "Tell me about a time where your job became extremely stressful, and your coping skills were put to the test."

Situational interviews:

Using the situational method, an interviewer presents a hypothetical circumstance or event and asks the applicant to describe how he or she would behave in that situation by eliciting examples from his or her prior experiences, behavior patterns, knowledge, abilities, and competencies.

Determining the format of the questions that will be asked during the interview is an essential point that will be explored in further depth below.

Find a quiet, private location where you may speak freely without losing your stream of thought. If your candidate suspects that others are listening in, the pressure will rise. If reservations are necessary, the interviewer must reserve a spot in advance. While the candidate is loitering in reception, fumbling about in an attempt to locate an empty room or an absent employee will not reflect well on your company. 

According to Careerbuilder, 76% of job seekers want to know how long it’s going to take to fill out an application before they start. Time frames are important for both candidates and interviewers, and therefore, preparing an interview schedule is very helpful. When setting a time for the interview, free up 15 minutes before and after each meeting so the candidate doesn’t have to rush out to the next meeting immediately.

Eventually, interviews that are completely unstructured and in which the interviewer improvises are ineffective. By creating an agenda, you'll be able to direct the debate more effectively and ensure that you don't overlook any relevant concepts.