If, as many in the recruitment sector will tell you, the situation is looking up for Ireland’s financial services jobs market then it’s a very slow process. However, adding to the gradually growing tide of optimism is the fact that there were more vacancies last month than at any other point during 2009.

The number of new job vacancies in September rose by 31% on August, according to recruiters Premier Group’s monthly employment monitor. This is not to be sniffed at, even taking the typical summer lull into account, but still is still 55% down on this time last year.

While most banks are not planning to expand, a crucial development is that many are now being forced to replace staff that leave, suggests Deborah Hall, senior consultant in Premier’s financial services business.

“Typically, banks are hiring to replenish their depleted workforces rather than to target new growth areas. Over the past year, where possible, banks have redistributed staff internally to fill skills gaps and now they are looking at the external talent pool also,” she says.

Sadly, though, the financial services jobs market remains heavily contracted compared to 18 months ago, and the areas that are growing have been doing so throughout much of 2009.

For example, insurance and life assurance remain relatively buoyant, and there’s been a slight uptick in compliance, risk management and internal audit roles within banking, says Hall.