The 2012/11/20 at 09:21
3,000 permanent jobs envisaged by the BPCE group, 1,000 extra positions at LCL… Judging from recruitment plans in the banking sector for 2013, the financial crisis is over. While 2012 already shows signs of recovery in the recruitment sector compared with 2011, the dynamic is set to accelerate in coming months. According to a survey published this year by the Robert Walters recruitment firm, the hiring of sales staff specialised in the banking and financial sectors will be fairly strong in 2013. According to Sébastien Guichard, Co-founder of Dogfinance, a company specialised in online financial recruitment, “banks are gearing themselves increasingly towards insurance products, so this is why they are hiring salespersons.” Amongst the roles to fill are those of agency managers, wealth management advisers, bank-client advisers and professional client support, underlines a survey carried out by the recruitment specialist Robert Half Financial Services.
Indeed, many professions are concerned by this positive dynamic. “In our establishment, access to different positions of responsibility is offered as much by external recruitment as internal promotion,” asserts Caroline Cohen Vilain, Recruitment Manager at LCL. This is a time when we are going back to basics, explains another survey by Hays, examining the evolution of banking activities and their needs. After several years of financial turmoil, banks are focusing today on their prime role in financing the economy and businesses. Corporate banking activities as well as activities that do not consume capital stock are at the top of the pops. Even if the climate of economic uncertainty still advises caution, the economic instability has engendered strategic and judicious hiring. “Our recruitments are mainly in the sales professions,” indicates Caroline Cohen Vilain. These profiles represent 40 % of all new recruitments.
Independently of the economic context, new regulatory frameworks in force are another source of stimulation for demand in certain skills. The applications of the Basel II, Solvency 2 and MIFID directives, affecting the banking sector, have led institutions to focus their hiring on risk-related functions, namely risk controllers, conformity managers and permanent assessors. Fixed salaries have progressed as much as 15 % in these professions. Teams in risk control managements have swollen as the evaluation of client or product risks is directly concerned by the new rules adopted on a European scale. Salary rises in these professions benefit those with over 5 years of experience in particular. Generally, support functions are often concerned by the regulatory modifications brought by these directives.
According to the Hays survey, an increase in hiring has been globally observed in credit, structuring, risk, as well as debt recovery and clientele services positions. Directly concerned by the regulatory changes, accounting heads are also amongst the profiles benefiting from higher pay, as they are in charge of producing financial statements, ensuring the respect of legal and regulatory obligations, and supervising teams taking care of general and auxiliary accounting. They also look after debt recovery from clients. As accounting standards are becoming internationalised, the technical skills required and perimeters of action are changing. Responsibilities for such positions can extend up to consolidation and reporting to the mother company. Whatever the level of experience, this is a position that benefits from the market’s current tension. The level of expertise expected for meeting the current complexity is a factor explaining pay rises.
An international streak is increasingly a key criterion demanded by recruiters. Overseas experience and bilingual English skills are amongst the elements that make a difference, as well as mastery of another language such as Spanish or German. The growing internationalisation of bank offers explains the search for such skills. It is also possible to see a strong demand for financial controllers, potentially ready to move overseas, not averse to expatriation, whose recruitment is in line with possible evolutions within the group.