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CONCERNS HAVE BEEN raised over the number of positions left vacant across Ireland’s financial regulator.
The Central Bank is currently trying to hire people for at least 21 different positions and its Enforcement Division is currently 25% off its target staffing levels.
According to the Finance Minister, there are 53.8 active staff members in the division but the ideal number would be 71.5. The regulator is also looking to recruit both a head and deputy head for the department.
Fianna Fáil spokesperson on financial services Frank O’Rourke has recently raised the issue with the Finance Minister.
Speaking to TheJournal.ie, he outlined his worries over the regulation of the insurance, banking and moneylending sectors.
“In view of the regulatory breaches that contributed to a very costly banking crisis in the past decade, it is deeply concerning that so many positions remain vacant in the Central Bank’s Enforcement division.
In sectors such as insurance, banking and moneylending, strong regulation must be matched by rigorous enforcement so as to protect consumers and ensure adequate deterrents are in place for errant financial service providers.
In an answer to a recent parliamentary question from the Kildare deputy, Michael Noonan said the regulator is in the middle of a recruitment campaign and that he is not unduly concerned about the situation.
“While the vacancy rate of approximately 25% might appear high, it should be borne in mind that it is largely attributable to a significant increase in the staff complement of the Enforcement Division rather than a loss of existing experienced personnel,” he told the Kildare deputy.
“The Bank has informed me that it keeps its resource allocation under constant review and will be flexible as it moves to recruit additional staff.”
He also added that he had no role in staffing the regulator.
The Central Bank’s website is currently advertising 21 different positions in various divisions from database administration to statistics. There are multiple jobs going in some of the roles.
The Enforcement Division is looking for a head and deputy head for the technical and advisory section. The successful applicants, who must have between 10 to 15 years experience as a barrister or solicitor, will help progress cases. The salaries are ‘not disclosed’. ent
The top job is being offered as a five-year contract.
The regulator is also looking for onsite supervisors for the anti-money laundering division and banking supervision inspectors.
Meanwhile, the fatcat bond holders were compensated fully. Didn’t happen though when ordinary working men and women were persuaded by Mary O Rourke to beg borrow or steal to buy shares in Eircom…..
You may be sure that the majority of the managers and higher level workers lost out on nothing . As usual Mulvey, an ex trade union leader, is a disgrace !
Bloody whingers they were happy when the bank was doing well.
They were happy when the bonuses were coming in.
Lucky to be getting anything should only be statutory and be glad of it.
Frankly, they suffer because they are playing golf with the wrong crowd
My heart bleeds
No bank in receipt of state funds should have been allowed to offer anything beyond statutory redundancy. Maybe not a reflection on the person but the company was dead. I await with interest to see where John Moran pops up now he has allowed recapitalisation of banks.
Staff who resigned not entitled to redundancy… Shock Horror
my dad got his mortgage from anglo when it was a fella in an office.he got €4000 to build the house in dublin, and in the height the house was worth €650,000. in walkinstown. mental stuff
But he built it in the rare old times yeah ?
Anglo Irish Bank never offered residential mortgages
rare old times is right mate. even in walkintown… the house is big and had an extension with utility room and jax. it really makes ye remember how crazy it all was
Maybe I’m Missing something, but if you leave a job for a better offer, even if the company you work for is in trouble, you are not entitled to any redundancy. How is this even an issue for reporting in the media????
I have no sympathy for Anglo staff they did a crap job building a busted bank, paid themselves well and the country was left holding a bill for their collective stupidity. Just suck it up the same as contractors who never got paid or small business that went bust. I shared a lift with a stupid girl who had worked for Anglo and she could see no connection with the loss of services in society and her former company’s bad business decisions
Comments closed for Seanie et pals court case-but open for actual current staff working 9-5 same as u-shame on you Journal
Good. Finally a little bit of justice. It appears the country is slowly releasing its head from its anoos
Maybe I’m Missing something, but if you leave a job for a better offer, especially if the company you work for is in trouble, you’re not entitled to reduntancy!!!!!!
“The reason for this, according to the IBOA, is because creditors of the IBRC could legally pursue payments made to those who left early.”
Excellent. They can go after Fitzpatrick then, biggest payout in one person right there.
The lapdogs for the leprechauns who ruined the country,let them starve,call it the Anglo famine.
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