Careers and Jobs

Nationwide UK has created 20 new jobs in the IFSC with the opening of their Irish operation last month. The company is the world’s biggest building society with assets quoted of £200 billion sterling. Watch this space as the building society is said to potentially explore expanding into other areas of banking. This could signal more new jobs in the IFSC.

I wonder did Mr Cowen include this announcement in latest unemployment figures – I would be confident he did as the new was grim.

Citco has announced that it will cut jobs in Ireland. Employee at their IFSC offices were told that jobs will be lost from next month. Citco provides administration services primarily to non-Irish funds and the company has 1,000 employees in Ireland between Dublin and Cork. We announced earlier this year that they would be creating new jobs in Cork. What a difference 6 months makes.

Citco had planned to grow its Cork city operations and allow the location to take responsibility for a wide range of additional activities. This expansion plans were supported by IDA Ireland and were to create 150 jobs over the next 3 years. This expansion is now in doubt with the job cuts announcement.

Irish operations make up more than a quarter of Citco’s overall workforce. Generally the sector, Fund Administration, accounts for 9000 jobs in Ireland.

The IFSC employs thousands of professionals and you can work there too. The Banking & Finance sector is still buoyant in Ireland and you can get a piece of the action.

There are many opportunities in Funds, Banking, Treasury and below we have outlined where you can find Custody and Trustee jobs. We have listed recruitment agencies who recruit for the sector on this site. We have also listed the job boards that advertise the jobs. If you want to approach these companies directly see the list below.

If you are interested in the Banking & Finance sector in Ireland – Citco recently announced new jobs in Cork

This site will also give you valuable career tips and advice for job hunting in Ireland.

Do you want to work in Treasury in Ireland. The IFSC houses some of the biggest financial companies in the world. I have listed some of the companies to approach if you want a job in Treasury.

Direct applications or speculative approaches to companies is something of a lost profession. Most jobseekers will register with a recruitment agency or view job boards online.

If you are struggling to find a job and want to work in the IFSC why not approach these companies directly. Need help with this then check out this blog.

The Irish funds industry has grown substantially since the creation of the IFSC and now directly employs thousands of staff. If you want a job in Mutual Funds I have listed some companies based in the IFSC in Dublin that you can approach.

We have also posted some Hedge Fund companies and information on how to apply to companies on spec. Read this article as it will provide valuable advice for jobseekers in Ireland.

For CV advice in Ireland check out this blog with loads of free CV advice.

The Banking & Finance sector is buoyant in Ireland dispite recent turmoil in the Global Markets. Over the next few weeks I will outine some key employers in the Sector especially in the IFSC.

Over 430 international operations have approval to trade in the IFSC in Dublin. Another 700 managed entities are approved to do business under the IFSC programme.

Recruitment Agencies and Job Boards in Ireland will have various opportunities and vacancies in Hedge Funds in the IFSC but here is a list of Hedge Funds companies you can approach directly.

Remember if you need help approaching companies directly you can read this article.

I wrote yesterday about the great news released that PAYE workers had reclaimed 1.5bn in tax over the last 4 years BUT guess what!! Abuse and health scandals have just wiped this out. When you sit the cost of the Tribunals on top of this we are actually worse off.

So any good jobs news stories today?

FINANCIAL SERVICES – Cork was once known for its strong Pharmaceutical Sector (and GAA strikes) BUT now it seems that it is building its own little IFSC. Citco has announced that it is creating 150 new jobs. The company already employs 145 in Cork. The majority of the new roles will require 3rd level business/accountancy. Ireland is now has over 40 companies employing over 9000 staff in the funds administration sector.

INFORMATION TECHNOLOGY (IT) - More than half of senior technology executives are confident about the sector in 2008. Many see increases in employment in the sector. Over half believe that it is getting difficult to recruit IT staff.

Citco Fund Services (world’s largest hedge funds administrator) is planning to expand its operations in Dublin. Citco currently employ 600 staff in Ireland and they are looking for new office space which could mean another 100 staff.

With the turmoil in the jobs market many jobseekers are seeking a safe haven to weather this storm. Jobseekers want a sector that will provide stability away from the continual threat of redundancy. Construction is suffering, retail is stuttering, manufacturing on deaths door BUT is financial services the shining knight.

It’s hard to know if Financial Services is a safe bet. The stock market is in turmoil and the banking and financial sector has strong ties to the construction and housing. For example Start Mortgages announced on Friday that it is cutting its workforce by 10% which indicates that the demand for loans is slowing fast. This has a direct knock on effect for banks but also financial services providers such as insurance.

I think Financial Services will remain a pillar of the economy. Developments and announcements such as Citco Fund Services are encouraging and would indicate strength within this sector despite the uncertainty globally.