Since the demise of the T+1 settlement initiative, and the outsourcing of many back office functions, many back office consultants have found that the demand for their skills has declined and it is not hard to understand why some have tried to market themselves for the compliance market. As the December 2006 deadline for implementation of the Basel II directive looms ever closer the need for compliance experts will only increase, as will the rates they can command.
As Rice acknowledged "â¦you canât blame people for cleverly orientating their CVâs towards the needs and requirements of the market, but it does demonstrate how essential it is that candidates are pre-screened before they are put in front of financial institutions, otherwise their lack of detailed knowledge will become painfully apparent, this is why at BlueMax IT we pre-screen all our candidates carefully and assess their skills and regularly." This means that the recruiters themselves must have excellent knowledge about the banking market particularly the FSA Basel II directive to be able to see past the buzz words and impartially assess the candidateâs skills.
As Rice emphatically concluded âBlueMax IT consultants have over 40 years experience in the banking and finance sector, and understand what the recent FSA directives mean to our clients and what they require in terms of implementation. Consequently, BlueMax IT has been constructing a high caliber candidate base for some time, containing Business Analysts, Project Managers and Banking Consultants with the knowledge and know-how that our clients need. As regulatory deadlines draw nearer more people will jump on the Basel II bandwagon and this need to identify high quality compliance experts from those who are trying to re-invent themselves as such, will become more and more crucial."
BlueMax IT is a specialist, boutique IT Recruitment consultancy specialising in banking and finance â and only banking and finance. The Blue Max IT areas of focus are investment and retail banking, and IT solution providers to these sectors. BlueMax does provide a âpre-screening service of candidates for clientsâ
The consultancy provides permanent and contract IT professionals â banking consultants, project managers, business analysts and leading edge programmers âwith banking IT project experience to the following segments:-
â¢ Regulatory Compliance - Basel II, FSA.
â¢ Anti â Money Laundering Fraud â Basel, FSA.
â¢ Securities, risk management and algorithmic trading.
â¢ Banking and Internet Security.
â¢ Retail and e-Channels banking and wealth management.
â¢ STP â Front to Back Office Processing Projects.