Central Bank hiring 60 graduates - closing date 28th July 2010

Slippers 2

I think they usually hire five graduates, so this is a big change. I'm surprised I haven't seen it mentioned anywhere, especially as there's only two weeks left. I only found it because I was on the Central Bank website looking for something else and checked the Job Opportunities section while I was there.

Link to job specification

Description

Under impending legislation, a new Central Bank of Ireland will replace the Central Bank and Financial Services Authority of Ireland (CBFSAI). This integrated body, combining the existing role of the Central Bank with the previous prudential supervision responsibilities of the Financial Regulator, will have sole responsibility for financial regulation and the stability of the financial system generally in Ireland.

We are looking to recruit 60 high calibre graduates, with an initial intake commencing employment in October 2010. This represents an excellent opportunity to gain unique, professional experience in a dynamic and evolving organisation and to play some part in the challenges which we face given the current global economic climate. The organisation offers excellent training and career development opportunities. Succesful canddiates will be offered a minimum of a 2 year contract.

Our Requirements

We are seeking to recruit very high calibre graduates who have a proven track record of academic excellence as well as having achievements and interests in their lives outside of academia. Applications from all degree disciplines are welcomed.

A minimum of a 2.1 honours degree is required (Level 8 NFQ). Applications are welcome from those who graduated in 2009 and those who expect to graduate in 2010. For those yet to graduate a proven academic track record for third level will be expected. As well as possessing the necessary academic results, it is important that candidates have the motivation, talent and commitment to succeed in a challenging environment. Successful candidates need to display an inquisitive and challenging nature and have the ability to analyse and make sound judgements.


Remuneration and Benefits
· Attractive salary (c. 30k)
· Ongoing professional and personal development
· 22 days annual leave
· Defined benefit pension scheme
· Flexible working hours and excellent work-life balance policies
· Sports and Social Club
· Employee Assistance Programme
· Subsidised staff restaurant
· Commute Travel Pass Scheme

Application and Selection Process

To apply, please complete the application form attached (via the link below) and submit along with a copy of your CV. Please ensure that you list all your Leaving Cert subjects and the results you obtained in each subject on your CV.

Step 1: To apply, please complete the application form attached (via the link below) and submit along with a copy of your CV. The closing date for receipt of applications is the Wednesday 28th July 2010 at 5pm.

Step 2: Applications will be acknowledged as they are received. All applicants will be required to complete an initial on line aptitude assessment, details of this will be sent in the acknowledgement email you will receive. The aptitude assessment must be completed by Friday 30th July 5pm.

Step 3: Subject to the outcome of the aptitude assessment and further short listing, we will revert to all candidates with the outcome of their application by Friday 6th August 2010.

Step 4: Short listed candidates will be invited to attend an event, scheduled for Wednesday 11th August (venue to be confirmed). This event will feature an address by a senior member of The Central Bank staff as well as a group exercise for all candidates.

Step 5: Short listed candidates will be invited to attend for interview, to be held from 19th August to 3rd September.

Step 6: Conditional offers of employment will be made in the second week of September, subject to medical, security clearance and reference checks. Successful candidates will commence employment from October 2010.

Link to application form

Some questions from the application form for a flavour of who they are expecting:

Leaving Cert Points
Please select the relevant option, from the list provided.
500+ Points
450 - 500 Points
400 - 450 Points
Less than 400 Points
Other - Post Primary education outside Ireland

Please select the subject area which best describes your third level qualification.
Finance
Maths
Commerce
Actuarial Studies
Statistics
Regulation & Compliance
Legal
Economics
Other


Hope this is helpful for someone.


And because every OP should have a picture...

Slippers 2

The job spec has been updated with the salary: €27,500 - €28,000

P_1

Thanks for posting that link. Think I may well apply for that. It may prove to be my escape from the joy that is retail.

K4t

Leaving Cert points?:eek:

davey_j_c

Yeah they usually only hire about 5 for the graduate programme. This is different again, not really sure what areas they will be hiring into though.

IrishIrish

Can anyone find any info about what the actual roles involve?

Slippers 2

Here's the brochure for last year's programme: http://www.centralbank.ie/data/site/brochure.pdf
It doesn't give you much other than that the programme involves four six-month rotations, but notice that the salary has dropped about 16.7%.

Lux23

I would jump at the chance of getting to work in here. Pity I graduated in 2002.

Faith+1

Pity the salary is crap. I work for DCC and earn well above that.

Tails142

The requirement to have graduated in 2009/10 sounds like discriminiation on the basis of age to me which is contrary to legislation so I wouldnt let that hold you back from applying.

Sometimes the people writing ads for jobs arent fully aware of the legislation and grounds for discrimination whereas the people carrying out the short-listing and interviewing would be more cautious and knowledgable.

Slippers 2

Lux23 wrote: »

I would jump at the chance of getting to work in here. Pity I graduated in 2002.

I asked them if there was an age limit at one of the grad fairs in the RDS and they said no. If you're willing to start at the bottom they'd probably be better off with you than a fresh graduate.

johnhargrove

Slippers 2 wrote: »

I asked them if there was an age limit at one of the grad fairs in the RDS and they said no. If you're willing to start at the bottom they'd probably be better off with you than a fresh graduate.

I applied for the Grad programme in 2009, got rejected on the basis that I had 2years work experience.
They said they were looking for 'fresh' grads

ToasterSparks

Wow, not being tainted with the 'evils' of work experience might actually go in my favour.

Slippers 2

johnhargrove wrote: »

I applied for the Grad programme in 2009, got rejected on the basis that I had 2years work experience.
They said they were looking for 'fresh' grads

I wonder would they let in someone with a bit of work experience who then went back to college and is now a recent graduate again.

ToasterSparks

Slippers 2 wrote: »

I wonder would they let in someone with a bit of work experience who then went back to college and is now a recent graduate again.

I dunno, they're really pushing for transparency and a new era for Financial Regulation. I guess they're looking for young, fresh graduates that they can 'mould' in their own way.

bearray

Hi all. Has anybody actually done any of their apptitude tests? It is said very broad, are they spatial, verbal, numeric tests? thanks

pog it

It is definitely just 2009 and 2010 graduates that they are accepting.

Even if you applied and you graduated in 2008, 07, 06, 05, etc. they would probably find another way to NOT shortlist you.

pog it

Tails142 wrote: »

The requirement to have graduated in 2009/10 sounds like discriminiation on the basis of age to me which is contrary to legislation so I wouldnt let that hold you back from applying.

Sometimes the people writing ads for jobs arent fully aware of the legislation and grounds for discrimination whereas the people carrying out the short-listing and interviewing would be more cautious and knowledgable.

I'd imagine they'd have a subtle way of rejecting your application though, on "other grounds" so that you would not be able to prove it was down to your age that you didn't succeed.

IrishIrish

bearray wrote: »

Hi all. Has anybody actually done any of their apptitude tests? It is said very broad, are they spatial, verbal, numeric tests? thanks

I did them, there's 3 different tests. The main difficulty is lack of time.

First test is a 6 small pages of financial information and then you get asked 37 questions relating to this information. You have 12 minutes to search for the answers within the 6 pages and state whether the question is True, False or Cannot Say (due to lack of info provided).

The second test is very similar. Think there was 49 questions and you had 12 minutes to answer. This time it was the same idea but instead of finanical information it was just text relating to the structure of the company and board of directors etc.

The final test was 20 questions in 5 mins and you had to spot patterns and select which item was wrong. This one was more like what you get in online IQ tests and stuff like that.

Its tough enough to get through but I doubt many people answer all the questions.

bearray

Thank you IrishIrish. How many did manage to do? 49 for 12 mins is impossible though

userod

I wonder would a 3rd class honours degree put you completely out the windows for this? Even if you were to do well enough in an aptitude test?

pog it

userod wrote: »

I wonder would a 3rd class honours degree put you completely out the windows for this? Even if you were to do well enough in an aptitude test?

You'd be at a disadvantage. Going by the info they want proof of high academic results, incl. Leaving Cert. Nothing to stop anyone applying though...

mr_bojangles

Does anyone know how long it takes for them to send out the acknowledgement email?

IrishIrish

mr_bojangles wrote: »

Does anyone know how long it takes for them to send out the acknowledgement email?

Once I had the app filled in and sent to them I think they contacted me the next day with another email which told me about the appitude tests they wanted me to do and a link to the tests.

123easy

Anybody know what their attitude would be to engineering graduates with a good degree?

Denerick

Any chance of getting this with a 2:1 in history? This seems too good to be true...

Denerick

I applied anyway. Should be interesting to see what the aptitude test is like

IrishIrish

Denerick wrote: »

I applied anyway. Should be interesting to see what the aptitude test is like

You might struggle a bit with the first test because it has more focus on financial info where you'd benefit from having some sort of past college experience in finance/business/economics etc. But the other 2 tests are fairly normal, wouldn't make any difference what your degree was in.

eclectichoney

Slippers 2 wrote: »

I wonder would they let in someone with a bit of work experience who then went back to college and is now a recent graduate again.

I am also wondering this. I mean if you have just graduated with a Masters, are you still classed as a recent grad even if your primary degree may have been a few years back??

miec

Just to add my 2 cent worth. The jobs have been created to deal with the rise in regulation for the banking / insurance industry after the debacle over the last two years. If anyone is interested in learning more check out the financial regulator website (www.financialregulator.ie) , espicially their strategic planning and all the various regulation that they will be issuing it may help those of you who get to the interview stage.

BESman

Faith+1 wrote: »

Pity the salary is crap. I work for DCC and earn well above that.

You are not a dickhead.

johnhargrove

eclectichoney wrote: »

I am also wondering this. I mean if you have just graduated with a Masters, are you still classed as a recent grad even if your primary degree may have been a few years back??

I applied for the Central Bank Grad Programme last year,
they sent me an email saying that they were highly impressed with my application (whatever), but they wouldn't be taking me on as I had 15months previous work experience. I finished my primary degree in June 2007 and then did a Masters from Sept 2009 to Sept 2010. 'Graduating' in 2010 but that counted against me.
Remember it could be different this time.

danthefan

Phew, would have completely forgotten to do the aptitude tests if I hadn't seen this topic.

Oafley Jones

johnhargrove wrote: »

I applied for the Central Bank Grad Programme last year,
they sent me an email saying that they were highly impressed with my application (whatever), but they wouldn't be taking me on as I had 15months previous work experience. I finished my primary degree in June 2007 and then did a Masters from Sept 2009 to Sept 2010. 'Graduating' in 2010 but that counted against me.
Remember it could be different this time.

Out of interest, did you query the reason why this is? I graduated my post grad in 2008 and I've two years of work that's completely not related to my course - which I hate - and I'd be more than a bit miffed if this counted against me. It would be interesting to see an age profile of those who've been accepted it the past and see if there is some subtle form of discrimination taking place.

johnhargrove

Oafley Jones wrote: »

Out of interest, did you query the reason why this is? I graduated my post grad in 2008 and I've two years of work that's completely not related to my course - which I hate - and I'd be more than a bit miffed if this counted against me. It would be interesting to see an age profile of those who've been accepted it the past and see if there is some subtle form of discrimination taking place.

Got an initial rejection.
Emailed to ask why,
they said it was due to my work experience, and that they were looking for people with no experience, or experience from a university co-op.

As for the legality of it, there's probably loopholes everywhere.

Oafley Jones

johnhargrove wrote: »

Got an initial rejection.
Emailed to ask why,
they said it was due to my work experience, and that they were looking for people with no experience, or experience from a university co-op.

As for the legality of it, there's probably loopholes everywhere.

Honestly, if I were to receive that answer I'd push them on it.

How does experience count against a candidate - especially if it's in an unrelated field?
Would someone who has drawn the dole their entire adult life, and who decided to get a degree at 30, be in a preferable position and if so how?
What is the age of oldest candidate accepted into the graduate programme?

If I didn't get a satisfactory answer, I'd go straight to the Equality Authority.

P_1

So essentially they're looking for people with no working experience whatsoever?

Fantastic, looks like my application was a wasted effort so.

Oafley Jones

pithater1 wrote: »

So essentially they're looking for people with no working experience whatsoever?

Fantastic, looks like my application was a wasted effort so.

Which is idiotic as the people they need to do the job won't be the type of individual who's easily lead or put off with nonsense excuses. What they want is people who have the ability to ask tough questions, and in my experience that tends to come an awful lot easier to people who've actually worked.

Denerick

Oafley Jones wrote: »

Which is idiotic as the people they need to do the job that are required won't be the type of individual who's easily lead or put off with nonsense excuses. What they want is people who have the ability to ask tough questions, and in my experience that tends to come an awful lot easier to people who've actually worked.

I thought they want 60 people to mould their own way, due to the changed circumstances and increased importance of the regulator?

Oafley Jones

Denerick wrote: »

I thought they want 60 people to mould their own way, due to the changed circumstances and increased importance of the regulator?

They're not making pottery.

Denerick

Oafley Jones wrote: »

They're not making pottery.

Might as well be. Employers seem to have the mental agility of robots. Like one of the application forms I had to fill out recently.

'Outline why you want to get involved in Human Resources?'

What I wanted to say:

'I don't. I want a job. Any job. Why the **** else would somebody want to get into Human resources?'

What I did say:

'I have a wide set of skills that will enable me to blah blah blah'

This unemployment lark is quite depressing...

P_1

One thing that I don't get is that in the job specification it is stated that:

"We are seeking to recruit very high calibre graduates who have a proven track record of academic excellence as well as having achievements and interests in their lives outside of academia. Applications from all degree disciplines are welcomed. "

Now I would imagine that holding some degree of working experience would qualify as a good achievement and interest in somebody's life outside of academia.

Oafley Jones

pithater1 wrote: »

One thing that I don't get is that in the job specification it is stated that:

"We are seeking to recruit very high calibre graduates who have a proven track record of academic excellence as well as having achievements and interests in their lives outside of academia. Applications from all degree disciplines are welcomed. "

Now I would imagine that holding some degree of working experience would qualify as a good achievement and interest in somebody's life outside of academia.

So Mr. Johnson I see you've 8 years of tobogganing and have never worked a day in your life, welcome aboard. Which mould would you like to step into; we've two models 1)Patrick Neary - moustache optional or 2) John Hurley?

Denerick

I did the aptitude tests. The abstract reasoning/pattern test was good, as was the verbal reasoning. I was iffy on the first one though.

Fingers crossed!

ToasterSparks

I can't believe there's a job though, where my lack of proper work experience is a plus. Seriously, don't complain about it, about 99% of the other jobs available expect experience! Give some rookies a chance. :P

P_1

Denerick wrote: »

I did the aptitude tests. The abstract reasoning/pattern test was good, as was the verbal reasoning. I was iffy on the first one though.

Fingers crossed!

How long were you waiting to be sent the link for the aptitude tests if you don't mind me asking?

Denerick

pithater1 wrote: »

How long were you waiting to be sent the link for the aptitude tests if you don't mind me asking?

I got the link straight away but left it for a couple of days.

mary.

johnhargrove wrote: »

Got an initial rejection.
Emailed to ask why,
they said it was due to my work experience, and that they were looking for people with no experience, or experience from a university co-op.

As for the legality of it, there's probably loopholes everywhere.

I applied after having gone back to college after working for a few years, and I got a link for the aptitude test. Wonder why I got a link to the aptitude if they don't want folks like us! They'll probably ditch me at the next stage!!!

ToasterSparks

Denerick wrote: »

I got the link straight away but left it for a couple of days.

+1 to this, it seems to be how it works for everyone.

P_1

Denerick wrote: »

I got the link straight away but left it for a couple of days.

Hmm applied on Friday afternoon, haven't heard anything back yet...

ToasterSparks

If it's Friday afternoon you applied, then they might not get around to emailing you until Monday. I wouldn't worry just yet!