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Operations Market Update
BRUIN Financial
Q3 has been a positive and relatively buoyant one for operations across both the permanent and temporary markets. There have been many newly created roles as well as significant movement in the market which has led to replacement hires. Counter-offers have become increasingly commonplace as companies look to hold onto their best talent. As a result, competition for top tier talent is tough; and the strongest candidates are likely to receive multiple offers. In additional to this, during the holiday season the recruitment process tends to be slower as more of the decision makers are away. This can cause the interview process to lose momentum and increases the risks of candidates dropping out. Clients with a streamlined and efficient
recruitment process have benefitted over the last quarter and have enjoyed greater success securing the candidates they need. With more roles on the market, clients are happier to look at candidates with the right fit and some transferable skills rather than like for like experience. These candidates are less likely to be susceptible to counter offers due to the clear progression they see in moving. There has been a rise in salaries for candidates moving between roles. This is caused by the increase competition for candidates but also candidates and clients having more confidence in the market after sitting tight during some tougher years in the recruitment market.
Q3 Newsletter, 2014
Client Testimonial
"I have been extremely
impressed with the work that
BRUIN Financial have carried
out for us.
The consultants are
professional, thorough and
understand our business
needs.
The quality of the candidates
they have is fantastic, as is
their ability to deliver on time.
I would recommend BRUIN
Financial, especially on posts
that are often not
straightforward and has most
recently helped in a somewhat
difficult situation.”
Q3, Market Overview
We have seen increased hiring levels over the last quarter, especially after the usual slowing of the recruitment process during the summer months. We anticipate that the last quarter of 2014 will continue to be buoyant for operations, with employers looking to place roles in this year’s budget.
Q4 often presents challenges getting candidates to move as bonus season approaches; this is especially true for candidates at the higher end. Clients have recognised this and have been looking at solutions such as bonus buy-outs or an increase in basic salary.
Predictions
1
With regards to the temporary
market, we expect to see employers
prepare for the busy ISA and Asset
Servicing season which will
commence in Q1 2015. Given this,
we anticipate an increased demand
for candidates towards the latter
part of Q4 in order to allow for
adequate training etc. Similar to the
permanent market there will be an
continued interest in candidates
with regulatory knowledge and
experience and which we anticipate
will remain throughout 2015.
Temporary & Contract Recruitment
2
Candidate Testimonial
“All the BRUIN consultants
really get to know you as a
candidate.
They understand your
needs/requirements and
only contact you with jobs
that fit your preferences.
With BRUIN the jobs are
always of a high standard
and in line with my career
progression.
My consultants were very
knowledgeable of the
companies I was
interviewing with and I
would always recommend
BRUIN to those looking for
new roles.”
Candidate Testimonial
“BRUIN kept regular contact
and I didn't feel like I was
just another jobseeker.
In terms of contractual
arrangements they have
been seamless and efficient.
Something not industry-
wide in my experience.”
Jonathan Ross
Permanent Recruitment
02031453367
Rosie Gowan
Temporary Recruitment
02031453378
Vijay Hassani
Temporary Recruitment
02031453373
There was a noticeable increase in
roles available in the Asset Servicing
area at various levels this quarter;
this is caused by the upcoming
dividend season. Though rather than
this increase being mostly confined
to the temporary market, clients
have this year increasingly looked to
bring on candidates permanently in
this area; showing more confidence
in the market in general.
Continuing the focus on regulation
there was a high number of roles
looking for strong knowledge and
experience around regulatory
reform in DODD FRANK, EMIR or
MIIFID. This will continue to be a hot
area and the more knowledge
around regulation an operations
candidate has the more in demand
they are.
Another area we have seen more
roles in at various levels is the
Collateral Management area, this is
likely due to recent tighter
regulations in the area.
As hiring levels increase this quarter,
clients have been looking for keen
top-tier graduates to come in with
less experience to come in as they
look to build for the future. Due to
hiring at the junior level there have
been a number of newly created
roles at the VP level as clients look to
take on more senior people to cope
with more at the associate and
analyst level.
Overall these areas have helped
create a buoyant market in
operations over the quarter.
For more information or a discussion about your hiring needs please contact:
BRUIN Contacts
Role Profiles