Number of project management and process reengineering jobs increase

Despite the widespread economic turmoil, financial institutions are continuing to hire PRINCE2 and Six Sigma trained professionals for project management roles . The recruitment is occurring at all levels from junior to senior across both permanent and interim positions.

Natalie Eshelby, team leader of Joslin Rowe's permanent banking operations recruitment division, confirms: "We've seen an influx of business analyst and project management jobs in the first few weeks of 2009. This is common in a bad market, as financial services firms need to make an immediate difference to their business fortunes. These firms understand that professionals with a change management background can analyse every action within an organisation and make recommendations on vital process improvements."

According to Joslin Rowe research, the banking operations recruitment  market has changed a great deal in the last decade - and not just as a result of the recent credit crunch.

"Over the years, the day-to-day processing roles have been moved nationwide, offshored or outsourced," explains Eshelby. "What's left, particularly at the moment in London, are the more strategic roles. Our clients are keen to recruit high level experienced programme managers, project managers and senior level business analysts across all asset classes - particularly in the derivatives and equity space. They're also looking to expand their strategic and change management areas.   Obviously some of these projects may involve investigating restructuring, but essentially they will all revolve around steering organisations in the right direction to emerge from the credit crunch.

According to Joslin Rowe , candidates with experience of process reengineering, increasing operational efficiency, outsourcing and off shoring, STP and systems implementation, are of particular interest for the project management jobs currently on offer.

"We're particularly keen to hear from individuals with a Black Belt or Master Black Belt in Six Sigma, who have a demonstrable track record in managing, and working on, business critical projects with multiple workflow streams and deliverables, " states Eshelby. " A  background in investment banking is a prerequisite, and 'change makers' who have matrix managed are also highly desirable"

Such is the demand for candidates with these skills, remuneration packages are remaining robust with many financial institutions paying competitive salaries for the most strategic project management jobs.   Eshelby does warn however, that this demand does not mean candidates will find the interview process easy,  "Applicants will be quizzed on how they've worked at board level before, the size of former budgets managed and just what effect they've had on the bottom line on their previous projects."