With employment opportunities within domestic banks obviously rather scarce, firms in the IFSC are currently providing the bulk of the Irish financial services jobs. Not surprisingly, they’re proving rather popular.

The hiring freeze continues within Ireland’s big banks, but after a difficult period it’s the international firms in the IFSC that are creating jobs again.

Insurers like Aviva, Canada Life and Zurich are all adding to their ranks while the likes of Citigroup, JP Morgan and State Street are all hiring again, say recruiters.

“There’s definitely a greater desire among candidates to look at opportunities within international firms,” says James Hayes, manager – banking and financial services at Robert Walters. “These are generally more specialist high-end jobs, but we’re reaching the point where these people are at risk within some of the Irish banks.”

The latest Finance Dublin recruitment survey also predicts that both the IFSC and jobs created as a result of NAMA will present the bulk of opportunities this year, with fund administration and insurance the hottest sectors. There’s also the possibility jobs could be created by the “green IFSC”.

But while the international firms are benefiting from a deeper pool of candidates, this doesn’t necessarily mean there’s an exodus from the Irish banks

“Within the Irish banks, morale is low but people are still holding on to the security of their current position,” adds Ken Harbourne, country manager for Robert Half in Ireland. “However, we’re seeing healthy volumes of new roles coming out of the IFSC, within insurance, funds, risk, compliance and financial control and there’s no shortage of applicants.”

There is still a reluctance among senior staff to move from the security of their current role, suggests Fintan Lawler, banking and financial services consultant at Hudson in Ireland.

“For the first time in a number of months we’re seeing a good pipeline of senior management positions, and we’re not exactly being inundated with candidates,” he says.