Joslin Rowe Reveal a New Type of Candidate Required for Temporary
Product Control Jobs
Released
on: October 14, 2008, 9:10 am
Press
Release Author: Joslin
Rowe
Industry:
Human
Resources
Press
Release Summary: Joslin Rowe have revealed research reveals that
product control will become an ever more important function leading
to changing product control job specs.
Press
Release Body: Joslin Rowe, one of the leading
UK financial services recruitment firms, have released research
that suggests the type of candidate most likely to be hired into
a temporary product control job is going to change, following
a warning from the Financial Services Authority (FSA)
that firms need to maintain their valuation and product
controls more stringently.
Tom
Forrest, associate director of Joslin Rowe's temporary accountancy
& finance recruitment division, clarifies: "The
UK Financial Services Authority has issued a 'Dear CEO' letter,
cautioning banks and investment firms with trading operations
that they will be visiting in the first half of 2009 to focus
on valuation control processes. For many firms, this will be the
impetus to change the type of person they look for in both temporary
and permanent product control hires."
According
to Joslin Rowe
research, product control departments have evolved enormously
in the last 5 years and because of that, the parameters of product
control careers have changed.
"Over
the years, the number crunching of profit and loss figures have
all been offshored," explains Forrest. "Today,
the typical temporary product control job in the UK market is
a very analytical and risk orientated position. Product control
job specs are asking for a totally different class of person for
what's essentially seen as a new breed of role."
The
current climate of concern over risk exposure and writedowns will
also add fuel to the demand for strong product controllers.
"Confidence
can only return to the market when product valuations and controls
are watertight," believes Forrest. "The product control
function will be vital in achieving this. Candidates need to demonstrate,
at interview, that they can build robust relationships with the
trading floor and can control the big personalities that often
dominate."
Forrest
predicts that the market will see a real shift in the type of
temporary product
control jobs being recruited for over the remainder of the
year.
"Obviously,
there's a massive amount of market caution, so hiring the right
staff to support a more rigid infrastructure, whether that's on
a temporary or permanent basis, will be the main focus"
states Forrest. "Anyone with product control experience
typically gained within overseas banks or securities firms, who's
risk aware with a strong attitude, will find themselves in demand
for any temporary product control jobs on offer. It's worth noting
good candidates are still securing multiple job offers even in
this difficult market. Rates aren't dipping either, at up to £500
a day for a temporary product control job."
Ends
Note to Editors
Established
in 1982, Joslin Rowe is one of the leading UK
financial services recruitment firms in the UK. Joslin Rowe consultants,
candidates and clients work together to achieve the best employment
opportunities and long term relationships. Joslin Rowe recruits
for finance jobs
and banking
jobs across London, Edinburgh and Glasgow including long-term
contracts, temporary and permanent roles. Joslin Rowe is a Randstad
company - the second largest HR services group globally.
Web
Site: http://www.joslinrowe.com
Contact
Details: PR Contact:
Belinda Walmsley
Joslin Rowe
Bell Court House
11 Blomfield Street
London
EC2M 7AY
+44 7789 682 754
2009
