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Head of Risk & Compliance Cork Working with an expanding Technology company t...Apply
Ops Manager – Merchant Services Working with an expanding global company who ...Apply
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A real estate/commercial innovative global organisation is is seeking to hire...Apply
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Loan Administrator Permanent €30k to €35k Dublin Responsibilities Administrat...Apply
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My client, a global financial services company is seeking to hire a Specialis...Apply
Are you a graduate with a business or finance degree who has fluent German wh...Apply
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Salary: €30,000 A leading Irish financial services organisation is seeking to...Apply
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Broadly the global economic performance and Ireland’s position are positive for the rest of 2018. With unemployment at 6.1%, two points lower than the European average (8.6%) and trending closer to 5%, continued inward and indigenous investment along with low inflation, all signals point towards continued, sustainable improvement. Last year we suggested the real impacts of Brexit and the Trump administration may yet to be seen, and this may well still be the case. Ireland has been resilient throughout ten years of turbulence, however, so can be confident of maintaining growth. In terms of professional salaries, increases in the region of 4% have remained ahead of cost inflation and enabled the sustainability of economic (and employment) performance. Indeed the impact of new organisations (mainly financial and fintech) relocating some operations to Ireland from UK will be higher in 2018 due to the time it takes to set up financial operations. The strong sectors (ICT, pharmaceutical, financial, etc.) remain strong, with specialisms like GDPR, Blockchain (not just Bitcoin) and analytics getting the headlines in 2018. There is an on-going drive for a better regional spread for new and existing jobs. There is a salary differential in the region of 5-10% and better retention rates (and more property options), so the regions will be disproportionate beneficiaries of new job creation. 2018 Salary Guides for each discipline: Accountancy & Finance Banking & Financial Services Construction & Property Services HR Insurance IT Legal & Compliance Manufacturing & Engineering Marketing Office Support Sales Science & Pharma Supply Chain
The financial services industry in Ireland employs approximately 40,000 people and has over 400 financial services companies with over one-third of those employed in companies based outside the greater Dublin area. Recent predications indicate that the industry has the potential to grow significantly and may well employ over 50,000 people by the end of 2020. Thoughts on the Market Brexit is proving to be one of the major catalysts for growth in the industry. Over the course of 2017, Ireland was endorsed as a destination of choice by a number of high profile financial services companies who announced that they intend to set up operations or expand their existing operations here in Ireland. These announcements have been warmly welcomed by the industry but are sure to bring with them many recruitment and retention challenges as demand for skilled professionals looks set to heat up even further. Ireland is still the fastest growing economy in the Eurozone and is set to become the only remaining member of the EU with English as it’s primary language. It is a preferred destination for EU nationals who have English as their 2nd language. 11% of people employed in Ireland are from other EU countries compared to 5% in Germany and 2% in France. Being able to tap into the Eurozone with a population of over 503,000,000 and attract professionals to Ireland has proven to be both challenging and successful for financial services groups in Ireland sourcing talent within the area of risk, front office, investment management, client services and back office. In 2018 It will be critical to continue to attract talent to our shores in order to fuel the predicted growth in the industry. The candidate demand increase in 2017 resulted in re-alignment of salaries upwards across many sections in the industry. Companies providing a wide selection of benefits to their employees are benefiting from better employee retention rates compared to those who are still offering minimal benefits as they play an integral part in a potential employee’s decision-making process. Funds & Investment Transfer agency and fund administration saw a little growth over the last 12 months. The landscape in Ireland has changed due to the number of mergers and acquisitions in this space. With many fund administration operations having been outsourced to lower cost economies, quite a number of operations in Ireland primarily provide an oversight function. Salaries have seen an increase on average of 5-12%. We should continue to see a demand for skills in this sector throughout 2018. Business analysis and project management will remain high. Product knowledge within UCITS or private equity will continue to be sought after. Trustee saw gradual growth in 2017 with a shortage of expertise in the area driving up salaries by between 10-15%. Candidates with a strong operational background within fund accounting are now considered as a viable alternative up to supervisory level. Custody has also seen continued growth, while candidates with custody experience are seen as suitable employees for other operational functions (trade support/middle office) due to their transferable skillset. The greatest single area of growth in the Irish market over the past year has been in the area of middle office and trade support operations, with a growth of 8% in employment within the area. Companies opening new operations in Ireland are viewed as employers of choice and as such able to keep salaries within current market rates. While Dublin is traditionally known for its back and middle office operations, a number of investment managers, stockbrokers and proprietary trading houses expanded their front office functions in Ireland in 2017. Post-Brexit, many candidates in London are now very open to relocating to Ireland, in addition to candidates throughout Europe who wish to work in an English speaking economy within the EU. There is expected continued growth in this area with London becoming a prominent supply line of candidates for roles within portfolio management, trading and quantitative risk. Banking Banks based in Ireland have gone through radical changes over the last few years. While the main banks are now back in profit there still remains a lot of challenges ahead for this banking sector. Salaries increased in this area over the course of 2017 and permanent opportunities have been on the rise across banks and credit unions. There has been an increase in opportunities in the area of SME lending and demand for skilled APA and QFA professionals remains steady. The Second Payment Services Directive (PSD2) will open up the world of banking and no doubt generate new ways to make payments. It is sure to herald further innovation and changes for this industry over the coming 12 months. Compliance & Risk The past few years have been a constant challenge for compliance & risk teams within financial services and by all accounts, 2018 will still be challenging. Whether preparing for Brexit, preparing for increased regulatory scrutiny, preparing for a clampdown on cryptocurrencies or preparing to reduce reputational risk – 2018 will no doubt bring new challenges for compliance & risk professionals across financial services and as such demand for their skills will remain high. Salaries Salaries have not increased in any significant way over the last 12 months but due to competition for talent and retention counter-offer strategies, many employers seem more prepared to offer prospective employees the latter end of the market salary ranges for their positions. Top Tip for 2018 In order to stay ahead of the competition for new career opportunities, it is important for candidates to invest in themselves through further education, to complement their existing skillset. Looking for a banking and finance job? Check out our latest jobs here
Contracting work is certainly becoming more and more common in Ireland today, and it’s not just in IT. In Financial Services we are seeing a growing demand for contract employees, particularly in the fund servicing industry. Below are several pros and cons to contracting to help jobseekers make an educated decision on their next appointment. Many individuals are open to the idea of more short term, project based work but it depends on whether or not this would be a suitable option for them. Sigmar recruits for a wide range of contracts for a number of clients nationwide ranging from project manager/business analyst implementation roles to operational positions so the sky is the limit in terms of finding a contract positions that would suit you. The premise of this article is not to persuade people to adopt contract work, but to weigh up the pros and cons of contracting and hopefully open up a few minds in the process. Mostly geared towards the fund servicing industry, professionals from other sectors can take some value from this. Looking at the table we see some good arguments on both sides of the coin. What it really comes down to however, is the individual. Depending on your situation certain points will carry more or less weight. Like, for example, if you’re planning a family or looking for a mortgage, job security and benefits (maternity leave in this case) contract working would not be your best option. Before considering contract employment in your sector though, it’s important to understand the market first. Research trends, and identify the skills that are in demand. A good starting point is checking out salary surveys which are published annually by credible recruitment agencies. Sigmar's Salary Survey 2017 gives expert insights into the market, reviewing trends and offering insight into how things are likely to unfold over the year ahead.
We’ve all got responsibilities such as working and building a career, running a household and/or raising children which can all be very overwhelming and lead to lots of stress. Here are 10 things you can do to start feeling better and minimising stress: 1. Identify causes of stress What triggers your stressful feelings? Are they related to your workplace, children and family, friendships, finances or something else? Once you’ve identified the trigger, you can get down to the root of your stress and find the best ways to handle it. 2. Recognize how you deal with stress Are you using unhealthy behaviours to cope with work or life stress? For example are you using sleep deprivation, smoking, consumption of alcohol or junk food as a means of coping? 3. Get a good night’s sleep A lack of sleep can result in an increase in stress as a person will not be able to stay focused at work. Sleep deprivation also impairs our decision making ability as we are unable to think clearly. Getting 8 hours sleep a night will help improve a person’s health as you will be able to stay alert throughout the day. 4. Eat a balanced diet Hectic work schedules leave us short on time to prepare healthy meals for ourselves and people then have a tendency to grab fast foods. However eating a balanced nutritional diet will help you stay healthy and keep your brain alert. Deficiency in food nutrients such as lack of vitamin B in the body can result in depression and irritability. Also when a person is under stress, vitamins C and E may be lost. 5. Exercise When you exercise, your brain produces “feel good” transmitters called endorphins. Producing these endorphins will help you deal with stress healthily as people who exercise regularly have more energy. 6. Stay organized It is an overwhelming feeling to think that there are not enough hours in the day. Therefore it is imperative that you manage your time. Come up with a daily plan and keep a diary to keep yourself on track. 7. Do not procrastinate Work piles up when you keep on delaying tasks. There is no use putting off for tomorrow what can be done today. 8. Don’t take on more than you can handle at work Avoid creating your own stress by over-scheduling and failing to say no when too much is asked. Don’t overpromise, and give yourself time to finish the things you do agree to tackle. Don’t be afraid to ask for help/delegate if you can’t meet all the demands placed on you. 9. Ask for support Accepting a hand from supportive friends and family can help you persevere during stressful times. If you continue to feel overwhelmed by stress, you may want to talk to a psychologist who can help you manage stress. 10. Finally, treat yourself When you accomplish a personal goal or finish a project, do something nice for yourself. Go out for a round of golf with friends or take a weekend break with your family. Treating yourself between tasks can help take the edge off and prepare you for the next challenge.
Sigmar Recruitment’s Banking & Financial Division consists of a team of 15 professionals and experienced consultants dedicated to providing you with high quality recruitment solutions. The majority of our consultants come directly from the Banking & Financial Services industry which gives us an additional dimension to our consultancy in today’s market.
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