Financial news Ireland – job market news, recruitment & career trends in Ireland for the finance sector

Junior accountants in Ireland might want to think twice before booking that plane ticket to the UK – you're likely to earn more by staying at home. The National Competitiveness Council has just produced a voluminous report on the cost of doing business in Ireland (and hence its attractiveness to international investment). This is based on the four key areas of labour, property, utilities and business services. Rather obviously, we've honed in... Read more

While IDA Ireland has been encouraging a raft of technology companies to either set up shop here or expand their presence, the financial sector has largely been excluded from this recruitment frenzy. Now, however, a number of firms are kick-starting new projects which is creating job opportunities. The likes of IBM, LinkedIn, Citrix, Lumension, RiotGames, SAP, Spencer Stuart and Stream Global Services have all been either setting up or expanding... Read more

Our poll indicates that you don’t rate the European stress tests. 40% of people who’ve responded to date think they were pointless piffle; the remainder think they were too lenient to be meaningful. The markets may agree. Even though German banks came out surprisingly well, Deutsche’s share price plummeted this morning. As BarCap’s banking analysts point out, with or without a stress test, Europe’s banks still have €1.5trn of debt maturing... Read more

There are more signs that securities servicing firms in Ireland are feeling confident about future growth prospects – they're beginning to expand their business facing teams. Firms in Ireland are on the hunt for relationship managers and business development officers to secure a larger slice of the growing fund administration pie. This follows earlier moves to bolster their core custodian functions . Things are definitely looking up for Ireland's funds industry.... Read more

As an international financial services jobs site, with international financial services jobseekers, we feel we ought to be giving you a bit of a steer when it comes to tailoring your CV for jobs outside your home country. There are distinct similarities in what’s expected in different jurisdictions (brevity is almost always good), but there are also distinct variations (Germans like photographs, UK recruiters don’t). For your information, therefore, here’s how you... Read more

Yesterday was D-day for the transferral of the second tranche of loans across to Nama from the five participating banks. However, the biggest transfer – an estimated €8bn from Anglo Irish Bank – was delayed. Neither Nama or Anglo was forthcoming about reasons for the delay, nor did they present a revised deadline, merely stating the loans will be acquired in the "coming weeks after all due diligence material has... Read more

The news that Bank of Ireland intends to cut 750 jobs will not be welcomed by the country's already beleaguered financial sector. But when you consider the size of its workforce (14,636 as at December 2009), the fact that the job cuts will be voluntary and that it's recruiting elsewhere in the business, perhaps the headline figure doesn't seem as deep a cut as it potentially could have been. Details of... Read more

So, the Irish government has decided to take a hardline with Ireland's two largest banks around lending to SMEs, outlining plans that require each to provide €3bn a year to the sector. AIB and Bank of Ireland are already building their teams in anticipation of this. Ireland's large domestic banks have been criticised for supposedly over-constrained lending practices to SMEs – something both they and industry bodies deny – which... Read more

Robert Half, the international recruitment firm, has taken the "difficult decision" to close its Irish operation. Is this a sign that hard times will continue for financial services recruitment, or is the company the exception rather than the rule currently? The financial services recruitment firm has confirmed that its Dublin office ceased operations two weeks ago. The move affects five staff in the Irish capital, who have been supported by "severance... Read more

If you work for an Irish bank, you're probably not the sort of person who puts a deposit on a speed boat in anticipation of an annual bumper bonus payout - particularly over the last two years. Nevertheless, this week’s European Union bonus rules provide a further reason for Ireland's large banks to hold back on variable compensation. The precise wording of the EU's document is as follows: In the case of... Read more

Bank of Ireland and AIB are set make deep cuts in the coming weeks, with as many as 4,000 jobs on the line, according to reports. Layoffs have long-been considered inevitable at Ireland's two largest banks, but so-far the policy of non-replacement of departing staff and non-renewal of contracts has already shed over 3,000 roles. But deeper cuts are necessary, according to reports in the Sunday Independent, with AIB allegedly pondering... Read more

Ongoing governmental calls for Irish banks to increase their lending to the small and medium enterprises (SME) sector appears to have had some affect – firms are beginning to recruit in this area. According to recruitment sources close to the situation, Bank of Ireland and KBC Bank Ireland are currently making enquiries about the possibility of bolstering their Dublin SME lending teams. BoI is rumoured to be looking for at... Read more

If Irish fund administration professionals find the prospect of stunning scenery, a close proximity to the All Blacks and being outnumbered 13 to one by sheep an appealing prospect, good news is on the horizon. New Zealand is making a play to become a bigger player in the sector. The New Zealand government has this month published a discussion paper looking into how the country can grab a bigger slice of... Read more

Bankers in Ireland are increasingly leaving the security of their full-time position for a long-term contract role in a bid to secure the pay rise and promotion that is proving so illusive in their current post. The ongoing permanent recruitment freeze within Irish banks means that the majority of jobs on offer are on 12-18 month contracts. Rather than shielding themselves in the security of their current position, bankers are instead... Read more

In advance of tomorrow’s UK budget, next weekend’s G20 meeting, and the likelihood of further measures to curb banking pay and profitability, here’s a quick roundup of where we are right now in terms of global banking punitive rankings. Notably, the most worst place so far is probably Holland. However, the EU is keen on coming in close behind. 1) Holland Dutch banks adopted a new voluntary code of conduct in September... Read more

The Central Bank has placed recruitment of highly-skilled risk and supervisory staff at the heart of its reformation plans. In total, the regulator aims to add 350 employees over the next two years as it takes a more "intrusive" approach. The ambitious expansion plans were unveiled in its new report 'Banking Supervision: Our New Approach', which outlines how the regulator will be more closely examining the risk management approaches of Ireland's... Read more

The Central Bank (among others) has spent the last week recounting how the risk management failures within Ireland's large domestic institutions led to the country's banking crisis. The domestic banks have supposedly been strengthening their risk functions over the last 18 months, meaning it has been the place to work during the economic downturn. But has enough been done, or is there more hiring on the cards? Central Bank governor Patrick... Read more

You may be aware that we are currently running a competition. If you tell us the most punitive question you have ever come across/conceived, either as an interviewee or interviewer, plus the answer you gave/wanted, we will enter you for a draw to win an iPad. Below, in no particular order, are the questions we've been sent so far. Click on the links below to read the answers, and the context... Read more

The administrative burden of the increasingly popular Ucits funds being rolled out by European hedge funds (often termed 'Newcits' because they replace existing strategies) means firms in Ireland are being required to staff up. Ireland's fund administrators have reasons to be thankful for the impending EU-driven Alternative Investment Fund Management Directive. Ucits, European funds called Undertakings for Collective Investment in Transferable Securities, are exempt from the new rules – one of... Read more

Excessive remuneration, a lack of skills in the financial regulator, irresponsible lending and a "national blind-spot" for property acquisition were all to blame for Ireland's distinctly "home-made" banking crisis. By now, the reasons behind Ireland's banking woes should be evident to most people locally, but international experts have just released a highly critical report – "A preliminary report on the sources of Ireland's banking crisis" by Klaus Regling and Max Watson... Read more