How Knockri Helped a Bank Hire Top Financial Analyst Talent with AI Efficiency
The Challenge
A prominent Canadian bank faced significant challenges in hiring the right financial analysts. Hiring the wrong candidates posed a risk to the institution’s financial stability. The institution needed a recruitment process that was efficient, compliant with regulatory standards, and capable of identifying top candidates with both the technical and non-technical skills needed for success. The goal was to streamline recruitment, improve candidate quality, and ensure regulatory compliance with data privacy and accountability.
Client
Bank
Time
9 Months
Number of Candidates
8000+
Results
40%
Reduced cost per screened candidate
52%
Reduced average time to fill
30%
Increased employee effectiveness
The Solution
To address these challenges, the bank adopted Knockri’s AI-powered assessments to improve their hiring quality and efficiency. Over a period of 9 months, Knockri assessed over 8,000 candidates, streamlining the selection process by focusing on critical non-technical skills such as execution, problem-solving, and growth mindset, in addition to technical qualifications. Knockri’s assessments seamlessly integrated with the institution’s existing hiring systems, reducing time spent on initial evaluations.
The ethical AI provided objective assessments, ensuring transparency and compliance with the industry’s strict regulatory requirements, including data privacy and accountability. This reduced the reliance on subjective decision-making, allowing recruiters to make more informed hiring decisions based on job-specific skills.
The Impact
The average time to fill financial analyst roles was reduced from 60 days to 29 days, a 52% reduction. The bank also saw a 22% increase in gender and racial diversity in their hiring pool, contributing to a more inclusive workforce. Post-hire performance significantly improved, with a 30% increase in employee effectiveness as candidates demonstrated better alignment with the required skills. Knockri’s ethical AI provided transparency and confidence in the hiring process, ensuring compliance with industry standards while improving overall recruitment outcomes.
