Use the same questions, record the evidence and compare candidates against the work you need done.
01 / Set the brief
Before the interview, agree on three things:
- Outputs: the reports, forecasts or models the analyst will own.
- Working conditions: source systems, deadlines, available capacity and business contacts.
- Review: who checks the work and how independently the analyst should operate.
Need help defining the role? Start with the FP&A role brief →
02 / Ask for evidence
Use the same core questions for comparable candidates. Ask about their own contribution; anonymised examples are enough.
1. Can you trust the numbers?
“Two reports disagree. What do you check before sending analysis to management?”
Listen for: source ownership, consistent definitions, cutoffs and reconciliation. Probe: what happens if the difference is still unresolved at the deadline?
2. Can they explain a forecast?
“An operating assumption changes. How does it affect your forecast and the decision it supports?”
Listen for: a driver linked to the financial result, an assumption owner and a useful sensitivity.
3. Can someone else use their model?
“How would a colleague update your model and check that it still works?”
Listen for: traceable inputs, consistent formulas, labelled units, documented assumptions and checks.
4. Can they make the decision clear?
“Explain an analysis to an operating manager in five sentences.”
Listen for: what changed, why it matters, available choices, limitations and the next decision. Assess clarity, not accent or polish alone.
5. Do they own the handover?
“A late input threatens the deadline. What do you do next?”
Listen for: early escalation, an agreed interim output, version status and clear next steps.
6. Do they verify AI output?
“An approved AI tool writes commentary that does not reconcile to the workbook. What do you check?”
Listen for: independent calculation, source checks and protection of confidential data. Use Not applicable when AI is outside the role.
03 / Rate what you observed
Record a specific example beside each rating. Mark Not observed for missing evidence and Not applicable for skills the role does not require. Neither means a score of 1.
Score independently before the debrief. The total should inform discussion, not automatically decide who gets hired.
04 / Try a small work sample
Fictional business · one month · USD. This exercise tests operating analysis and handover, not valuation experience. It uses synthetic figures, not client results.
| Input | Budget | Actual |
|---|---|---|
| Units sold | 1,000 | 900 |
| Price / unit | $120 | $125 |
| Variable cost / unit | $70 | $74 |
| Fixed costs | $30,000 | $32,000 |
Operating profit = revenue − variable costs − fixed costs. There are no other P&L items or cash-flow inputs.
Give the candidate this deliberately incorrect draft to review: “Sales grew 5% and operating margin reached 24%.”
Ask for three outputs:
- A checked workbook showing revenue, operating profit, margin and a reconciled explanation of the profit movement.
- A five-bullet management note correcting the draft, explaining the changes and identifying unanswered questions.
- A scenario and handover: increase actual units by 10%; keep actual price, unit cost and fixed costs unchanged. Document the assumptions and update instructions.
A starting allocation is 45 minutes plus a 15-minute discussion. Pilot it for the role, explain the format and tool policy, and adjust where needed. It is not a validated speed test or unpaid client work.
Reviewer check: explain the movement
Revenue: $120,000 budget → $112,500 actual, a 6.25% decline. Operating margin: 16.67% → 12.36%.
The bridge uses volume at budget contribution, then price and unit-cost changes at actual volume. Other methods are valid if they reconcile without double counting.
Scenario check: 990 units, $123,750 revenue and $18,490 operating profit. That is a scenario, not a demand forecast or evidence of cash generation.
The answer key is public. Change the inputs for a real assessment and ask candidates to explain their work live. More practice: budget vs actual and driver-based forecasting. Check the exercises' review status before formal use.
Take it into your next interview
Download the fillable scorecard →
For an example of the work behind the role, see how a logistics business added FP&A and Power BI support.
Hiring for your team? Discuss your financial analyst requirements →
This is a suggested framework to adapt, not a validated test, universal pass mark or Nexteam's internal assessment rubric. The approach to consistent questions and rating standards draws on OPM's structured interview guidance; this scorecard is not OPM-certified.