Creative hiring solutions for new-entrants in a hyper-competitive Financial Services market.
Updated: Oct 11, 2019
The buzz words we've all had flung at us at one time or another such as;
‘war on talent’
‘dwindling talent pool’
these buzz words may have good reason to be in circulation today, however they are by no means words to live and die by.
There are plenty of new entrants arriving, and plenty of existing firms needing to increase substance and headcount so the market for talent is looking and feeling difference than it has over the years. Adapting while being open to more creative ways to find your best talent is the difference between expense and stress versus commercially viable and easy to make happen.
STRUGGLING TO HIRE?
YOU MAY HAVE TOO MUCH OF THIS GOING ON:
Narrow and hyper specific parameters for suitable candidates.
Wanting your candidates to nicely overlap with an ideal profile.
OPEN TO CREATIVE HIRING SOLUTIONS?
YOUR SEARCH WILL LIKELY BE FAR LESS STRESSFUL!
Overlapping industries and transferable skill sets
Fund Accounting to Finance Manager
This candidate is 18 months ACCA post-qualified, however, their experience to date has been within fund accounting, and not an actual finance function.
The reason they were successful in their application was that the firm recognized their accountancy knowledge and skillset, and knew that with a little training and support, this candidate would become the perfect fit for them, both technically and culturally.
Operations for Fund Administration to PCF 39
This candidate had an excellent background in the middle office and operational positions within fund administration. Their role had evolved over time to incorporate 1st Line Risk Management responsibilities and was also involved in a lot of project work, collaborating with several different departments including TA, Trustee, and Depositary.
This gave them a strong overview of the whole fund's ecosystem, and so we're perfectly placed to take up the PCF 39 role within Ops Risk Management for this new ManCo.
MLRO from a multi-qualified AML role
The MLRO position would normally require someone with strong 2nd Line AML Compliance experience.
However, given the size and scale of the firm here, they were happy to consider someone who had excellent 1st Line AML Compliance experience who could demonstrate a deep understanding of the AML Directives, and how they are applied to the various business lines.
This person was also a member of ACAMS and had completed a number of AML qualifications, showing their desire/motivation to excel in this field.
Of course, there is no one hard and fast rule of hiring and many factors will influence your decision to hire someone (or not). The above examples are merely to highlight the other options that are available to you, if you are struggling to find the ‘perfect’ candidate, particularly in the current market.
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