If you’ve been applying for a lot of jobs and getting a lot of rejections (or simply hearing nothing at all), you may have the sensation that banks and recruiters have more than enough candidates.
For many jobs, this may be true. And yet every bank has some vacancies that have been open for months and months. Eight months isn’t unusual. We found one role that has been open since 2009.
Of course, the fact that a job has been advertised for years isn’t necessarily an indication that the bank can’t find anyone to fill it. It could simply be that HR have forgotten to take it down.
On the whole, however, the unfillable jobs seem to have things in common: they’re very often in IT or quantitative finance; they’re often in undesirable locations; they’re often in banks’ asset management divisions; they require very specific skills.
Bank by bank, we’ve listed the unfillable roles below. If you’re really desperate to get hired right now, these may be the jobs you should be apply for (assuming you're appropriate).
BAML seems to specifically struggle to find technical staff for its, ‘Global Commercial, Corporate and Investment Banking Technology (GCCIBT) team’ in Croydon. 5 of the 9 roles it’s been advertising for the longest are in Croydon. It’s currently looking for:
1. An AVP senior Java Developer based in Croydon (the position has been open since August 2011)
2. A Croydon-based business analyst for Global Corporate & Commercial Investment Banking Technology. (Open since December 2011.)
BarCap is struggling to fill technology roles. It’s looking for:
1. A development DBA contractor to work on its new(ish) MOTIF global finance platform. Must have experience of: Exadata appliances, preferably in the V2 or X2 series; Oracle version 184.108.40.206 or newer, preferably 220.127.116.11; datapump export and import utilities; Automatic Storage Management (ASM); RMAN Backup and Recovery. BarCap’s been advertising for this person since April 2011.
2. A TIBCO developer. This vacancy is also to work on the MOTIF project and has been open since August 2011. BarCap wants someone with experience developing Java and Tibco components, and – preferably – an understanding of Drools.
3. A process architect. Again, for MOTIF. The vacancy has been open since August. The desired individual must not only have worked in an investment bank or finance, but know about service-oriented architectures, process modeling, and finance and back office processes.
Credit Suisse has been advertising for German speakers in its Polish office since 2009. In London, it can't seem to find:
1. A prime services lawyer – Sought since September 2011. Must be a qualified solicitor with experience of prime brokerage documentation and negotiation either within a major investment bank or top tier law firm.
2. A senior investment risk manager – Sought since the end of October 2011. Must have knowledge of risk/return estimation, portfolio optimization and attribution of risk and return. German speaker preferred.
3. A regional lead for a low latency project – Sought since September 2011. Must have, ‘proven ability,’ to lead an electronic trading delivery team. Also: experience in equities and fixed income and a background in algo trading; an agile background; strong architecture knowledge. Knowledge of all sorts of technologies, including: Linux/Unix/Solaris and other system level technologies; network technologies: hardware, network algos, software and protocols; monitoring technology; application development technologies (C/C++/R/Java,.NET, etc); web and SOA technologies; trading technologies; virtualisation technologies; database servers; messaging systems. And more.
Citi seems quite efficient at filling its roles, with many only advertised this year. However, it's been looking for a, 'senior front office commodities quant' since last December. It's also hiring a lot of C# developers in Belfast.
Deutsche is also struggling with its technology roles, but it seems to be struggling less than other banks. Its vacancies with the greatest longevity only emerged in February 2012 and include positions for application developers and business analysts.
Goldman Sachs cannot appear to hire:
1. An internal audit investment manager – Goldman has been looking for one of these since July 2011. It wants someone with four years’ internal audit experience, plus knowledge of various databases and data analysis and systems architecture skills.
2. An Equities strats analyst or associate – Goldman’s been looking for one of these since October 2011. Fundamentally, this is a role for a quantitative developer on the derivatives desk. The successful candidate will probably have a PhD or Masters, plus programming skills.
3. A securities derivatives strats associate – Also wanted since October 2011, this is similar to the role above, but for securitized derivatives.
JPMorgan appears to be mostly struggling to fill commodities vacancies. It's also looking for...
1. A London-based analyst for the Israeli sales team – JPMorgan’s been trying to fill this vacancy since May 2011. It wants someone has a, “very good understanding,” of debt and equity capital markets, who has excellent communication and presentation skills, and is a good problem solver with attention to detail.
2. A dry bulk freight charterer/trader for the goal team – Vacancy open since June 2011. JPMorgan wants someone with (among other things): a ‘top academic background and prior experience trading energy commodities;’ knowledge of trading coal and dry bulk freight; experience in the Capes and Panamax market.
3. A mining engineer who can sit in the credit risk team and support the metals and mining practice. This is a bit of a specific ask. JPMorgan wants someone with a graduate degree in engineering, a working second language (preferably Spanish), solid experience in the mining industry and knowledge of mining method, AND experience in a financial analysis role. The person will sit in credit risk (implying they’ll earn less than in the front office). Perhaps unsurprisingly, it's been looking for them since July 2011.
Morgan Stanley seems to be struggling to find internal auditors. It's advertising for:
1. A liquidity sales manager in Morgan Stanley Investment Management – Morgan Stanley has been looking for this person since June 2011, when it launched an EMEA liquidity sales business based in London. The applicant will cover Continental Europe and needs excellent interpersonal and academic skills (among other things) and fluency in one or more European languages.
2. Internal audit manager, market risk – Morgan Stanley has been looking for this person since February 2011. It wants someone with: “A strong understanding of market risk, preferably having worked as a risk analyst in a major bank /financial institution.”
3. A capital markets internal auditor – Wanted since November 2011.
UBS has one role that's been open for more than five months, and that's:
1. An equity library quant – UBS has been looking for, 'a quantitative analyst to work on its Equity Derivatives Pricing Library,' since last October. The desired candidate must have: a degree in a mathematical or scientific subject (PhD preferred but not essential); strong computer programming skills, including some experience in writing numerical software, ideally in C++; and experience in a equity derivatives environment, ideally as a front-office quant.