With Ireland’s official unemployment rate to dip below 2008 levels, what is the market like for Accounting and Financial Services professionals?
2017 has proven to be a time of continued growth for the majority of organisations based in Ireland. With half of the world’s Top 50 banks having international hubs of operation in the country, the number of available jobs has increased continually.
For Accountants, there’s been a steady uptick in the number of roles coming onstream. In the wake of the downturn, much of the demand for qualified Accounting professionals was driven by multinationals and the Insolvency arena.
Over the past 2 years, there’s been a notable increase in the number of Irish companies hiring. Accountancy Practice is a busy space too, with most firms increasing their graduate intake each year. In 2017, many indigenous start-ups and SME’s have hired their first Accountant to lead their finance function.
Major demand exists for recently qualified accountants who can make that step into industry. Senior end jobs, at Chief Financial Officer/Finance Director level, remain highly competitive, with employers most likely to make sector specific decisions.
The big change in the Retail Banking arena is the higher availability of permanent roles.
There remains strong demand for APA and QFA qualified candidates with a solid Sales/Business Development track record. We see future growth for candidates with broader banking and technology experience, who will be in demand for Business Analyst and Project Management related roles.
With several new entrants into the Asset Finance and Leasing market, we have noticed an increase in demand for Credit Analysis, Underwriting, Sales and Treasury candidates up to Senior Management level.
Demand remains high in Financial Services, a sector expected to grow by 30% in Ireland by 2020.
This momentum was already building before Brexit related decisions started to take shape. New trends are shaping demand for talent; new Central Bank regulations are driving demand for professionals with relevant reporting experience. Recently qualified accountants across Treasury and Funds are sought after too, with particular demand for those with specialist skills in private equity and hedge funds. Graduates with up to 10 years relevant experience are expected to be in demand in the coming years.
Insurance professionals with regulatory experience can also expect to have a stronger selection of roles to choose from in years to come.
While the general insurance market has been mixed, Home and Motor Insurance companies continue to recruit in the Sales, Underwriting and Claims arena and new Brexit related announcements appear to be positive. Qualified Actuaries remain in demand with a wider variety of roles available. The International Life Insurance sector has experienced significant growth in recent years with several global players increasing their operations across Ireland.