Sovereign (now part of Banco Santander) interview process consists of several stages. First contact is with internal recruiter and /or HR person. Then you talk to several managers including your immediate supervisor and some people up the chain. Behavioral interviewing techniques are in vogue now.
Sovereign doesn’t believe in line managers having ultimate say about their direct employees, so the HR decisions are several levels removed from your direct supervisor.
I believe Sovereign goes for someone who is somewhat qualified, or under qualified for any given position. At least that is what they are willing to pay – on the low range of what the market is paying for any given position. However, the actual pay scales and top number on the pay scale are reasonably competitive – in other words, if there is an offer on the table, it will be a major lowball.
So, of you are desperate enough to want to work for Sovereign, you can play your cards right and secure a decent starting salary.