London, 13 April 2011. The number of confirmed job offers within Financial Services increased by 16% last month, recent research has found. The study was commissioned by city pre‐employment firm Powerchex, which looked at confirmed job offers made throughout March 2011 (see figure 1).
The biggest gains were found in Investment Banking, with 82% more job offers made last month compared to February. Stockbroker firms and Investment Management firms also considerably increased their recruitment levels, up 73% and 56% respectively, and there were also more opportunities for IT contractors working within Financial Services, with an additional 23% more placements offered and accepted than the previous month.
The only losers were Hedge Funds, down 7%, and Insurance firms, down by the same amount but having increased their recruitment intake by 58% the month before.
Alexandra Kelly is MD and founder of Powerchex and also MD of HireRight’s pre‐ employment screening operations in EMEA:
“This is the second consecutive month that we have seen an increase in recruitment levels within Financial Services and this is especially good news for jobseekers, not least because they have not had a huge amount to smile about over the past few months. I am also cautiously hopeful that the market for IT contractors within FS is improving.
“Jobseekers need to keep calm and remember that there are jobs out there for the right people. Above all, they should not be tempted to embellish their job application or CV; many companies outsource their referencing process to specialist providers, and such companies do know what to look for.
“What is critically important is that recruitment professionals and compliance officers do not lose sight of the risks involved in bringing new people into an organisation,” continues Kelly. “This also includes contractors or temporary workers who often have the same access to customer data as permanent hires. The FSA is always looking to make an example of any firms who run into problems having breached their guidelines; better to be safe than sorry!”
Powerchex is the UK’s premier pre‐employment screening firm for financial institutions. Based in the City of London, Powerchex checks the background, employment history, criminal records and professional qualifications of applicants on behalf of financial institutions. It sets the industry benchmark of 5 days for a background check. www.powerchex.co.uk.
Powerchex is a HireRight Company.