| Conditions favour interim recruitment |
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| Friday, 04 April 2008 | |
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Turbulent market conditions are still providing opportunities for financial services contractors.
The number of senior business analyst contractor jobs and senior project management jobs in financial services has increased by 22.4 per cent since the start of the year, according to research by Joslin Rowe Interim. James Guttridge, head of Joslin Rowe financial services interim recruitment, said that the majority of senior business analyst contract jobs and project management contracts were focusing on reducing risk and improving operational efficiency. “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," he added. According to Joslin Rowe Interim research, average daily financial services contractor rates are running at around £800 a day - over £200,000 per annum. Some investment bank jobs are, however, paying a premium. Guttridge explained that financial services contractors are highly valued, but their stock rockets if they parachute in mid-project. Effectively, they are 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 per cent to £1,000 a day in this type of scenario. If the project fails or continues to flounder, however, then it is 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. Guttridge believes the most crucial skill is the ability to drive and manage change. "I have 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,” he said. He gives the example of a senior business analyst contract within finance for which he is currently recruiting. “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,” Guttridge concluded. Related articles
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