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Jobs and Career Management in the Financial Markets, Banking & Finance |
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TOP STORIESThe worst candidates in Australian banking: part II7 October 2009By Simon Mortlock COMMENTSThey are very racist and most of them came to Australia as back packers and how dare they question my capability. Read all comments »In part II of a two-part series, we give you some more examples of candidates who've made silly mistakes in their job search. If you haven't read part I, click here. The recruiter abuser Candidates who are represented by multiple agencies for the same role are a headhunter’s worst nightmare, says Trevor Bradley, divisional manager, banking and financial services, Chandler Macleod Group. “Job seekers need to ask recruiters exactly who their details are going to. It’s not satisfactory for a recruiter to simply say ‘I will send your details to bank A’ because the CV could go literally anywhere within that organisation. Candidates need to be completely transparent in all dealings with agencies in order to avoid duplication.” The meandering mission-statement maker There's nothing worse in the banking sector than opening a CV and seeing the first page inundated with narrative fluff, says Kevin Jarvis, associate director of Robert Half. “The candidate may be a ‘dynamic leader’ or a ‘results-driven’ individual, but it's best to show, rather than tell, those attributes. On average, a recruiter will make up his or her mind about a candidate within seven seconds when reading a CV, so a very concise mission statement, followed by a straightforward reverse-chronology work history, is the best pattern,” adds Jarvis. The wretched researcher Surprisingly, in an information-dependent sector like banking, some people still fail to do their homework on the firm that’s interviewing them. These candidates think having a fancy CV is enough to land them a job, says Jane McNeill, senior regional director of Hays Banking. “You need to spend time thoroughly preparing for a face-to-face job interview. The ‘about us’ or ‘media’ sections of a firm’s website, as well as your recruitment consultant, can provide a wealth of information that allows you to gain a better understanding of the business and how your experience and skills match,” she adds. It’s a competitive environment for candidates at the moment and you have to demonstrate that you can stand out in a crowd, adds Ben Shields, manager, banking & financial services, Ambition. “You need to prove that you want the position more than the next candidate, and demonstrating your knowledge of the company will go a long way.” The generalist “One of the most common mistakes we see banking candidates make at interviews is really a sin of omission: when asked to describe responsibilities or achievements, the unsuccessful candidate will provide an answer that’s too general,” says Jarvis. Hiring managers in financial services tend to be brief and general in their questions, so candidates may be tempted to give equally broad answers in reply. “My advice is always the same: give details. Be thorough and succinct. Explain by offering solid examples from your own background and experience. And keep going until you know the question has been answered.” The Gordon Gekko Ric Nilson, senior consultant, Manpower Professional, recalls a meeting with an unscrupulous banker: “Her resume was faultless, as was her appearance and manners. Everything was looking good for a senior placement with a major Australian bank. I was almost counting the commission.” During an interview, he asked her to expand on her attitude towards ethics in banking. “Her answer blew me away: ‘it's everyone for themselves and I’m making so much money for the bank that no one cares about ethics’. She was even perplexed by my negative reaction. I live in hope that she has learnt from this experience that good ethics are critical to banking.”
COMMENTSjacko, Consultancy, Wed 07 Oct 09You are on the spot Ric Nilson. There is a lot of this type of attitude in the front office and even with the credit team in the past. A lot of banks tell us about how to fit in their culture. What culture? Ahhh probably they are talking about being unscrupulous and trying to cover for each other in the front office and the credit. They are so use to it that they do not see it as a bad ethics. They don even do their job properly. I am pertaining to those people who held these roles prior 2008.
patrick, Credit, Wed 07 Oct 09We had bad experience with recruiters and we felt that they were just using our cv and interviewing us to get more information to understand the role that they are trying to work with their client then putting someone else or they are just making sure that the current candidate they put forward will get through by holding you and later on going back to us to tell the client took someone who they put forward initialy. This is not also a goof ethics from recruiters. Add your comment »Mia, Investment Banking / M & A, Wed 07 Oct 09A lot of recruiters do not even provide a job specification coming from the company. They just make it up and falsely lead the candidates that they are accredited by as recruiters by the company. Add your comment »in the name of Ethics, Accounting & Finance, Thu 08 Oct 09I was little disappointed with one recruitment agent (RA). The RA asked to provide details of people I worked with and the leadership team. I was under the impression that this is part of the checks and balances in the initial interview of getting to know the candidate, and where I fitted in the bank's space. I later found the RA used the names for coffee meetings to build their own network. I'm wondering the ethics of RA. Add your comment »Ethics must be upheld at any cost, HR & Recruitment, Thu 08 Oct 09My best advice to all who are looking for a new role is to work within the Bank and move either horizontally or vertically. The recruiters in the Sydney markets are under the great expectations that they have mandates to in the hiring process of the banks. The Big 4 banks have their own recruitment process. And you will be more surprised if I say that recruitment companies will not exist in 10 years time in the business form they are currently in. They have already revolved into a new species in the last 5 years. Ethics are changing within recruitment firms where as the ethics within hiring managers are upheld. With the exception of few in the form of kick-backs, etc. Add your comment »Rob, Investment Banking / M & A, Thu 08 Oct 09Simon - maybe you can have a version of shocking recruiters, who put a job description that would render God as the only qualifying candidate or candidates who do 3 jobs at the same time...
ll, Capital Markets, Thu 08 Oct 09There are so many recruiters who don't know how to interview candidates as they don't know the specifications of the job themselves.I have been interviewed for a position in a bank by a recruitment agency once and got rejected. Luckily somehow my CV reached the employer- the same bank ( probably I submitted directly without knowing it ), they invited me for an interview, I spoke to the specialists themselves and got through to the next stage. Add your comment »mbbbdlw, HR & Recruitment, Thu 08 Oct 09According to the ABS (unconfirmed data) there are approximately 650 recruitment agencies in NSW alone. How well are recruiters managing ethics in such a competitive market. Direct advertising (eg: eFinancial Careers, and two others) is eroding recruiters ever diminishing pocket (like the gentleman above who was counting his commission is a history), mandates are almost weekly not renewed with the recruiters, what is the future for the recruiting market. Add your comment »HR, HR & Recruitment, Thu 08 Oct 09Recruiters should not be preachers but should be seen and act ethically at all times. Candidates are inexperienced and should be pointed in the right direction. This is a 3 way partnership between a hiring manager, potential candidate and a recruiters. Ethics should be in place in this 3 way partnership. HR at every company would expect this at the very minimum from all 3 parties. Some of the larger recruiters do try to flex this and this is one main factor for company's not having a preferred supplier. Preferred suppliers does not exist anymore. Therefore the recruiters should not be saying this to candidates. I have had a few instances where candidates direct called us to ask who our preferred suppliers are. Add your comment »DIY, HR & Recruitment, Thu 08 Oct 09eFinancial Careers is the best machine to get closest to a potential interview. Candidates do your owns maths and apply for jobs that you are most suitable. The year is 2009 and it is not 2005. Internet is a fantastic tool, use it. DIY and do not get it done by someone else. Add your comment » |
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