As often seen the first quarter of the year is slightly unpredictable when it comes to traffic flow for new vacancies. That said a variety of companies across institutional asset managers, private banks and investment banks have been making hires, even if they have taken an eternity to be delivered causing a little frustration form both clients and candidates.
One of the difficulties ae have face in the current market, often the right experience alone will not guarantee someone securing a role. Both candidates and clients seem to want something a little extra, so managing expectations is something we are very keen to manage here at Bruin.
So compared to this quarter last year we believe it has been quieter, although there are already positive signs that the following three months will be busier, particularly now that the bonus season for all but a few is now over.
All in all the operational landscape is changing with many roles having been outsourced, good operations candidates will have experience and knowledge of most areas of the business.
The role profiles we have seen have been very mixed. Ideally we would like to be in a position when we are meeting good candidates to have more than a handful of roles for them, that isn’t quite the case at the moment, although we believe that will change.
Data has been particularly busy as well as derivative operations. We have also seen a consistent number of roles that sit around the corporate action, operational oversight and operational tax space.
Clients seem to now want candidates who are not only capable of their role but have good experience in other areas, whether that be a certain asset class or IT system. They are also keen on individuals who have experience of working with or interacting with the front office. This certainly helps the roles look more attractive when reaching out to candidates.
The down side of this, once candidates have experienced something slightly detached from the back office, many crave to move away from operations which can sometimes leave a void of the experience required for roles especially in the data and performance space.
We are fairly positive about the quarter ahead – clients have been very active inviting us to see them and discuss recruitment strategy for the next 3 months, We are already seeing the traffic of roles coming to us increased.
As always with operations there isn’t always the steady flow of candidates who are wanting to move like for like, many have aspirations of being in front office positions, mostly justified.
That said clients do seem to be making their operations as attractive as possible providing exposure to the front office from a support perspective.