Press Release Summary: Financial services contractors in high demand as banks assess operational efficiency to weather 2008
Press Release Body: Turbulent market conditions are still providing new opportunities, as financial services contractors are rapidly discovering. The number of senior business analyst contractor jobs and senior project management jobs in financial services has increased by 22.4% since the start of the year, according to research by Joslin Rowe Interim.
James Guttridge, head of Joslin Rowe financial services interim recruitment, stated: "The majority of senior business analyst contract jobs and project management contracts are focusing on reducing risk and improving operational efficiency. And, whilst it may seem counter intuitive, when companies are trying to rationalise costs they are willing to pay top daily rates for the skills to implement this."
According to Joslin Rowe Interim research, average daily financial services contractor rates are running at around £800 a day - over £200,000 per annum. However, some investment bank jobs are paying a premium.
James Guttridge explained: "Financial services contractors are highly valued, but their stock rockets if they parachute in mid-project. Effectively, they're taking a risk. If the project turns around, the financial services contractor can bolster their CV and their pay packet. Rates can rise by 25% to £1,000 a day in this type of scenario. But if the project fails, or continues to flounder, then it's something that needs to be managed very carefully on a CV so as not to affect future employability.
Typical skills in demand at the moment amongst the financial services interim recruitment agencies include process flow charting, system integration management, strong influencing and negotiation skills, business analysis and project management. Depending on the nature of the role, qualifications in demand can range from Prince2 to chartered accountancy.
James Guttridge believes the most crucial skill is the ability to drive and manage change: "I've received a number of financial services job specifications which have simply included the words "getting things done" in the skills required column. It's an accurate view of what's needed. These candidates tend to be the very best of the best. For example, I'm currently recruiting for a senior business analyst contract within finance. A chartered accountancy qualification is a must but so too are first time passes - a request you don't often see any more on other job specifications."
Notes to Editors
About Joslin Rowe
Established in 1982, Joslin Rowe is one of the leading UK financial services recruitment firms in the UK and Ireland. In April 2006, international staffing services company Vedior (headquartered in Amsterdam, the Netherlands) raised its stake in Joslin Rowe's parent company, The Blomfield Group, from 18% to 70%. Joslin Rowe recruits for banking HR jobs across London, Edinburgh and Glasgow including long-term contracts, temporary and permanent roles.
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