Making the move from private practice to an in-house legal role, particularly in the financial services sector, requires tailored preparation. The expectations for in-house roles often emphasise commercial acumen, succinct communication, and adaptability. In-house roles often involve more varied responsibilities, closer collaboration with non-legal colleagues, and a focus on legal risk management within a business context. In-house interviews often test your ability to combine legal expertise with practical, business focused solutions. Expect competency based questions, scenario discussions, and an evaluation of your commercial awareness.
Below, we have provided some practice questions specifically for lawyers transitioning into these positions. Preparation Is Key.
Motivations
- What are your motivations for moving in-house and how are your career goals aligned?
- What attracts you to the financial services industry specifically?
- What interests you about this role?
Understanding
- What do you know about our company?
- Do you understand our organisations structure?
- What are the company values and can you give examples of demonstrating these values in the workplace?
- What current challenges do you think our company faces?
- What are the current issues in financial services /retail banking/insurance/crypto etc. industry?
- What do you understand about market regulations specific to our industry?
- What do you believe to be the main differences between being a private practice and in-house lawyer?
- What is your attitude to legal risk?
- What challenges do you expect the in-house legal team to face?
- How do you see the role of legal counsel contributing to a business’s success?
- How would you advise on balancing legal compliance with innovative business initiatives?
Experience
- How is your experience relevant to an in-house role?
- What skills do you have that directly translate to the financial services environment?
- Can you identify the gaps in your experience for this role?
- How will you fill/compensate for gaps in your experience?
- What experience do you have of contract negotiation/ESG compliance/data protection/corporate governance?
- How will you apply your regulatory knowledge in practice?
- What direct in-house experience do you have? Any indirect in-house experience if you haven’t worked in house?
- Can you give examples where you advised businesses or collaborated with commercial teams?
- Describe a time you provided legal advice under tight deadlines.
- How have you handled a situation where business priorities conflicted with legal risks?
- Give an example of how you influenced a business decision using your legal expertise.
Key Points
- Be Succinct. In-house lawyers need to communicate clearly and without jargon, as they often advise non-legal stakeholders. Demonstrate this skill in your answers.
- Show Adaptability. Highlight examples where you quickly adjusted to changing priorities or collaborated across departments.
- Emphasise Commercial Thinking. Showcase your ability to balance legal risk with business objectives.
- Demonstrate Soft Skills. In-house roles often require strong interpersonal skills. Show you can build relationships with both legal and non-legal stakeholders.
- Ask Insightful Questions. Use the opportunity to enquire about the company’s culture, legal team structure, or how success is measured in the role.
- Stay Professional and Personable. A personable approach often carries significant weight. Companies want someone who is not only competent but also easy to work with.
If you are considering a move in-house, it is important to be prepared for the unique challenges and opportunities that come with the new role. Practice answering key interview questions, tailor your CV for the financial services world, and explore current openings that align with your skills.
For further, more generic interview advice and practice questions please contact us via our website. For further insights on career development and tips for lawyers, visit the LawSociety’s career advice page.
Explore current in-house legal vacancies at Fry & Brown or contact us for more detailed advice on making your next move – we’d love to hear from you!
Jan 2025
