I was already working for Factset for a year when I responded to the interview. To external hires, this was a job opening. To me it was a promotion.
The application process is how I'd put it, since it required more than just interviews. Anyway, there's a diagnostic test. Fail that and you proceed no further. So that's step 1.
Step 2 is the interview with HR. You get asked general questions, the type more suited for external hires.
Step 3 is the interview with your prospective supervisor. That gets challenging: what you know versus what they know, pretty much on the same work process you'll engage in.
The last step is interview with senior management. I don't know if external hires go through this. I did. It was more a lecture than an interview, basically information on where I fit in the company in my new role.