The fund services industry in Ireland remained buoyant for professionals throughout 2011 despite the continuing harsh economic climate. Ireland continues to flourish as a key global location where fund promoters have chosen to develop and service investment funds.
More than 320 fund promoters maintain Irish funds at present, and the country is seen as a key global location for the creation and on-going management of investment funds. According to the Irish Funds Industry Association (IFIA), factors contributing to Ireland being a destination of choice for fund promoters include:
- The flexibility and range of legal structures
- A highly competitive marketplace for service provision
- A reputation for investment vehicles domiciled in other jurisdictions as a centre of excellence
Fund administration skills required
As the funds administration industry in Ireland continues to grow, opportunities for funds specialists in Dublin and across all regional centres have been bucking current employment trends. There is a strong demand for talented fund administration professionals to fill a range of job types at all levels, from entry to director.
There are fewer candidates currently available in the market, compared to previous years, so those professionals looking to progress their careers are enjoying increased job opportunities in the market. Reasons for decreased candidate availability include international relocation of fund administration professionals and a reluctance of many of those permanently employed to explore new opportunities during uncertain economic times.
Temps in demand
Funds professionals who are prepared to come into an organisation as a temporary employee are in particular demand as businesses increasingly find they require immediate expertise.
Job titles currently in demand in funds investment for both permanent and temporary roles include:
- Fund accountants
- Business analysts
- Project managers
- Product developers at all levels
Vanessa Rohr, funds and banking operations team leader at Michael Page said: “The start to 2012 has been tricky as demand has been high for both qualified accountants and experience Transfer Agency/ Investor Services staff at all levels, however candidate availability has diminished. This is due to a number of factors which include immigration, a lack of confidence in the market and an over fished candidate pool over all. During the course of this year, I would envision that this will remain to be a barrier to hire for clients.”
For more information on jobs in funds and financial services contact John Stewart in our Dublin office.