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2011 Background Screening Buyers Guide - Recruiting News

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(July 14, 2011) Wall Street employment hit a decade high three years ago in June, according to the Bureau of Labor Statistics. Approximately 15,000 jobs have been added in securities, commodities and investments from the cycle bottom, or a two percent gain. Despite those additions, we are still 61,000 jobs below peak, or a seven percent drop. We are, in a word, still underwater.

With targeted layoffs expected at certain large financial institutions, the only thing we know for sure is that if you are rumored to be making cuts -- your firm's name becomes an important search phrase in the eFinancialCareers resume database.

Job Opportunities By Market
Number of jobs posted by region at July 1, 2011

That's the under-the-radar job market -- where HR professionals and recruiters get to the unique art of finding qualified candidates that are a fit for their organization. This isn't a secret culture where a magic keyword equals success, but emerging trends can be spotted and capitalized on. Here's our latest list:

Language skills are becoming a necessary proficiency for Wall Street professionals. And it's not just Mandarin - we've seen increasing requests for Spanish, Portuguese, Korean, Italian and Russian speaking financial markets professionals.

Internal Audit assures the adequacy and effectiveness of internal controls, verifies compliance with corporate policies and procedures, and identifies opportunities to enhance operating efficiencies and/or reduce costs. Any surprise why it's becoming more important? No, but a 3.5% unemployment rate for accountants and auditors makes this a very hard skill set to find.

Asset Allocation is a broad money management phrase, in keeping with the buy-side becoming more active in recruiting - a trend we've seen for most of this year.

The Investment Banking Analyst role supports the senior bankers with financial and valuation analysis, pitch presentations, and capital markets insights. A group to watch as an indicator of deal market strength.

Client Service skills appear to be increasingly sought after - and why not? Firms want to make sure to be the provider of choice in the highly competitive financial services arena.

Constance Melrose
Managing Director
eFinancialCareers North America

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