Domestic banks, finance houses and investment banks in Dublin are raising their game – and their salary levels – to lure candidates for securitisation roles.

“The Dublin securitisation sector has traditionally been dominated by German institutions (whether as investors or as structurers). But domestic banks are building up their securitisation presence with the launch of a number of CDOs (Collateralised Debt Obligations) and similar products.

“Dublin’s regulatory and tax environment is attractive and the city is a short commute from London and the Continent. It is a genuine location of choice for individuals keen for an alternative to London, and remuneration levels are closer to the London market than they were,” says James Hayes, manager of Robert Walters’ banking team.

Damien Cahill, banking and finance consultant at Qualitas People Solutions, explains why demand has been steadily increasing: “As financial modelling is getting more sophisticated, banks are looking at new ways to reinvest their assets, and structuring is one of the ways.”

Cahill continues: “In securitisation there is the straightforward origination – going out, knocking on doors and finding the deal; structuring/transactions – putting the deal in place; and execution – selling the deal.”

Typical roles are for asset-backed portfolio managers, structured-credit analysts, and credit derivatives traders.

Junior roles can command up to €60k plus 50% bonus, while senior candidates can expect up to €200k plus profit-related bonus, which could be up to 300%, according to Cahill.