Where are all the Financial Services People Gone?

NewBalance

I am a financial services recruitment consultant and am having problems attracting experienced candidate from the Financial Services sector here in Dublin.

I know there are plenty of opportunities around - but seriously - where are all the decent cands?

Nody

London and good luck on competing on benefits/salary.

AARRRGH

I think a lot of industries are finding it hard to recruit at the moment. I work in recruitment somewhat and have noticed fewer applications for IT and business type jobs too. I wonder are people perhaps worried about the economy (falling house prices etc.) so aren't jumping between jobs as much?

NewBalance

Re London and competing with Salary & Bens - Dublin is a different city with a different work ethic - i.e Dublin's more balanced - and you have more chance of standing out here in Dublin if you are exceptional at your role.

The following point though certainly rings true, the house prices dipping would have an effect on peoples confidence, but what about the positions with massive multi-nationals in well paid secure roles?

Why are'nt the people in dead end jobs at Bank of Ireland, ESB, AIB, NIB etc applying to these Investment Banking jobs where they get better money better ben's and do more interesting stuff?

SheroN

Because they have pensions on the way at BOI etc. Also they have to work for about 30 minutes a day.

prendy

well as far as im concerned im staying put till i get experience...only finished degree in may.
then maybe look for something better!

NewBalance

30 mins a day for the next 30 years until pension?

SheroN

Correct. Have you ever worked in a bank? 90% of people are happy to do nothing.

Arrive in at 9.30....
Check mail for 30 mins....
Breakfast break untill 10.30....
Do some work for half an hour...
Surf the web for half an hour..
Tea break...
Lunch for two hours...
and so on and so forth.

SheroN

What kind of roles are you looking to fill?

Mainframe jobs or what?

List up some of the open roles here and you might get some interest

NewBalance

where to start?!

Stock Market Trade Support (all you need is 1 years FX exp be accurate and to be able to get to D18!) that'll get you €28 to €32k depending if you have 1 or 2 years

Mortgage and Loan Processing - €33k - needs 2 years exp of doing the admin for Commercial Mortgages or high net worth Loans (theres a load of documentation behind these facilities).

Investor Serivices Admin - €30k - need Accounts Recs/ excel skills,

Then there's the positions that require some more speciality:

Snr Compliance Manager
Assistant Treasury Managers x5 covering Derivatives, Valuations, Financial Reporting....

Basically if you have 1+ years experience from Financial Services and want more money + better benefits + an actual career rather than Facebooking your life away... then these guys want you

SheroN

I notice one of the jobs is based in D18. Where are the rest of the jobs based?

NewBalance

The Rest are in IFSC or Dublin 2 - for what we have on go to:

<snip> no advertising, please! eth0_

NewBalance

Stop Advertising.

daveirl

This post has been deleted.

NewBalance

considering you only need 1-2 years experience, then Yes.

They also all have annual bonuses ranging from 12 to 20 % - Health Care - Travel Allowances...

So, is that what is holding back the responses then? Low Salaries? What's an attractive salary then for a person with 2 years FS Experience?

the_syco

dublindude wrote: »

I work in recruitment somewhat and have noticed fewer applications for IT and business type jobs too.

This isn't a dig aimed at you, but I've noticed a lot of recruiters are asking for a lot, when only a bit is needed. And as they only need a bit, the salary won't be that high, but as they've a lot listed, the salary seems f**k all.

Example: Vista has been out 1 year. Job requirement would be 5+ years of Vista.

Job needs you to know basic networking, the recruiter puts speil about needing Cisco & MCSE certs.

Also, putting in unneeded certs will put some people off, and the ones that are qualified will see the salary too low end.

NewBalance

I see where you're coming from... but my job is to sort of 'decode' the spec and boil it down to the basics - ideally 2-5 lines...

These roles don't require masses of experience - just a good level of numeracy and accuracy...

Ok, so the Lending Manager does require Loan Processing Experience, but thats not rocket science either - you check the doc's are there, input the rates and open the account (a loan a/c is the same as current a/c but with a debit balance) creat the offer letter from a template filling in the gaps and hey presto = done, onto the next one. Happy Days €60k p/a please plus bonus and shares...

galway008

Alot of people don't like dealing with recruitment consultants.

NewBalance

I know - that's the impression I get! It's as if they feel I am getting a cut of their salary! When it's the client who's paying for my services!

There are cowboys and I hear some terrible stories from Cand's who have met unscrupulous and sharp practicing consultants etc...

Lola123

Whats the salary for the senior compliance mgr? And the exp required?

Nov2006

Are any of the companies you recruit for willing to compromise. I have 10years Fin Services experience but am looking to cut my hours down to 3 days a week due to Family/Studying commitments?
Finding that agencies are mad keen on meeting me/sending out my CV and then push me for 5 days a week jobs (which I already have) then I hear nothing regarding any part time work?
Does p/t just not exist in the FInancial Services world?

stepbar

NewBalance wrote: »

I am a financial services recruitment consultant and am having problems attracting experienced candidate from the Financial Services sector here in Dublin.

I know there are plenty of opportunities around - but seriously - where are all the decent cands?

SheroN wrote: »

Because they have pensions on the way at BOI etc. Also they have to work for about 30 minutes a day.

:rolleyes:

NewBalance wrote: »

30 mins a day for the next 30 years until pension?

:rolleyes:

SheroN wrote: »

Correct. Have you ever worked in a bank? 90% of people are happy to do nothing.

Arrive in at 9.30....
Check mail for 30 mins....
Breakfast break untill 10.30....
Do some work for half an hour...
Surf the web for half an hour..
Tea break...
Lunch for two hours...
and so on and so forth.

:rolleyes: You can kinda see where this is leading.....

NewBalance wrote:

Why are'nt the people in dead end jobs at Bank of Ireland, ESB, AIB, NIB etc applying to these Investment Banking jobs where they get better money better ben's and do more interesting stuff?

Now you've just all credibility with me.

NewBalance wrote: »

I see where you're coming from... but my job is to sort of 'decode' the spec and boil it down to the basics - ideally 2-5 lines...

These roles don't require masses of experience - just a good level of numeracy and accuracy...

Ok, so the Lending Manager does require Loan Processing Experience, but thats not rocket science either - you check the doc's are there, input the rates and open the account (a loan a/c is the same as current a/c but with a debit balance) creat the offer letter from a template filling in the gaps and hey presto = done, onto the next one. Happy Days €60k p/a please plus bonus and shares...

I suspect there is a little more to the job than that. If there's people getting 60k for that, I think the shareholders of the said bank should sell out now. There are business managers who wouldn't even get 60k.

NewBalance

Well, there are more responsibilites to the role of course - as you will be in charge of a Team and so KPI's, SLA's, AML and due dilligence will also all fall at your door - so nearly exonerating the €60k Salary - but a Business Manager in a Bank would surely be on circa €60k or more in Financial Services, a Business Partner would be weighing in around 70k-80k.

GoneShootin

Right I've enough of this thread. It's getting too dodgey for my liking. NewBalance keep this kind of "pseudo-recruitment" type of discussion off boards.ie