to fill the role, ending a two-year search
for a niche role in a challenging location
vs traditional recruitment agency fees
Our client, a leading Fintech company, had been searching for a Global Head of Enterprise Risk Management for two years. The role was proving difficult to fill for a number of reasons.
The role was very senior, reporting to the Chief Risk Officer, and therefore the successful candidate needed 10 years’ experience in risk management in an enterprise-size business. They also needed to be familiar with the regulations which cover the fintech market. Our client also wanted to ensure a diverse pool of candidates from a location known for its lack of diversity.
The role was based in a different US state from the usual locations for this type of position. While this meant there were few competitors nearby, location talent was limited. The successful candidate could relocate, however the location was not appealing to many prospects.
The coronavirus pandemic added a further layer of complexity to the search, as many prospective candidates were reluctant to consider a job change amidst so much uncertainty.
We worked closely with our client to discuss their requirements and challenge their perceptions. Our client had initially wanted to focus on individuals with a pure fintech background. We recommend that we changed this to financial services and technology as this would significantly widen the talent pool while still ensuring that the candidates had the necessary skills.
Our insights showed that the best target country for the search would be the US. At this time, the political backdrop in the country was such that most candidates would not consider relocating from outside the country. In addition, we recommended that the search would be local to our client’s location, as the likelihood of relocating was low.
We then mapped the market to find candidates who met our client’s criteria. We did this through original research and engaging with our networks. As these individuals needed experience, knowledge and seniority, the talent pool was small. In total, we were able to identify 35 people who met the requirements.
We then reached out to these prospective candidates to discuss their backgrounds and their interest in the role. At this stage, we qualified out a number of individuals who were either reluctant to change jobs at this time or who lacked the gravitas needed for a senior role in our client’s business.
In total, the details of 11 close-fit candidates were passed on to our client and from these, three were taken through to interview.
The successful candidate was a leader in his field, with experience in financial services and working in companies which were highly regulated. As his experience was gained outside pure fintech, without our recommendations to extend the search, this individual would not have been found.
He also fulfilled the client’s diversity requirements and had just relocated back to the state, so was happy to find the perfect role in his preferred location.
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